tag:blogger.com,1999:blog-1527840491496268397.post7783375788668030971..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: "Big Oil" Earnings ($XOM $CVX)Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1527840491496268397.post-83601448785605050492023-05-22T19:49:07.946-07:002023-05-22T19:49:07.946-07:00After decades of structural underinvestment in tra...<i>After decades of structural underinvestment in traditional energy sources, the sector now must contend with optimizing CAPEX in an inflationary environment with increasing energy transition mandates. Globally, oil-based fuel consumption now stands 3% above pre-Covid levels.3 Europe’s pivot away from Russian natural gas supply is also supportive of U.S. LNG development.<br /><br />In this context, <b>we are seeing 15-20% capital spending increases but only 0-5% production increases.</b> The outliers are the supermajor integrated names which are raising their CAPEX budgets to around 30% growth as they pick-up spending on clean energy projects.</i><br />https://www.morganstanley.com/im/en-us/individual-investor/insights/articles/capex-reshapes-credit-profile-sectors-in-flux.htmlCPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-90260881666407239602023-05-22T12:40:23.123-07:002023-05-22T12:40:23.123-07:00Good thread on the transaction:
https://twitter.c...Good thread on the transaction:<br /><br />https://twitter.com/WAR527/status/1660647482211160070CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-23943970152124278702023-05-22T12:35:57.361-07:002023-05-22T12:35:57.361-07:00Chevron Corp said on Monday it is increasing its U...<i>Chevron Corp said on Monday it is increasing its U.S. oil and gas footprint by acquiring shale producer PDC Energy Inc in a stock-and-debt transaction worth $7.6 billion. [...]<br /><br />Analysts in recent months have been questioning Chevron's ability to counter worries that the company's core U.S. shale properties are in decline following poor performance in the Permian basin of West Texas and New Mexico last year.</i><br />https://www.reuters.com/markets/deals/chevron-buy-pdc-energy-76-billion-2023-05-22/CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-69966840147217653392023-05-04T10:30:57.845-07:002023-05-04T10:30:57.845-07:00ConocoPhillips total production was up 2.6% y/y an...ConocoPhillips total production was up 2.6% y/y and crude oil production was up 2.4% y/y.<br /><br />Capex was actually down 8.4% y/y.<br /><br />https://conocophillips.gcs-web.com/node/23921/html#a53392156ex99_2.htmCPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.com