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Josh Young

 
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  • Oil Drilling Slowdown: Texas Oil Drilling Permits Fall 50% In One Month
    Wed, Dec. 3 USO, OIL, UCO 11 Comments

    Summary

    • Texas drilling permits declined substantially in November.
    • Drilling permit declines should lead to drilling activity declines.
    • Drilling activity declines should lead to less oil production growth.
    • This is bullish for the price of oil.
  • The Rising Marginal Cost Of Oil Production Highlighted By Kashagan Expense Escalation
    Fri, Oct. 10 XOM 9 Comments

    Summary

    • Kashagan pipes leaking, will cost an additional $3.6 billion to fix.
    • The latest in a series of delays and expense escalations in the $50 billion oil project.
    • Highlights issues the oil majors are having ramping up oil production.
    • Tangible evidence of the rising marginal cost of production of oil.
  • Athlon Deal Highlights Exxon Permian Steal
    Mon, Sep. 29 ATHL 20 Comments

    Summary

    • Encana bought Athlon for $7.1 billion.
    • Paid $65,000 per BOEPD and $37,600 per acre.
    • Positive read-through for recent Exxon Permian acquisition from Linn Energy.
    • Implies Linn paid $278,000 per BOEPD for California acquisition.
  • MLPs Overpaying For Assets? Atlas May Have Overpaid Versus Cabot In Recent Eagle Ford Transactions
    Editors' Pick • Fri, Sep. 26 ARP 11 Comments

    Summary

    • Atlas and Cabot bought similar assets in a similar time frame.
    • Atlas paid approximately $1.5 million per undeveloped location.
    • Cabot paid approximately $600,000 per undeveloped location.
  • Linn Energy Overpaid For Exxon's California Production
    Fri, Sep. 19 LINE 163 Comments

    Summary

    • Linn is effectively paying $232,000 per barrel per day.
    • The company is sacrificing core land with substantial upside potential.
    • It is also buying assets in a politically fraught market.
  • Conoco North Sea Asset Sale: Surprisingly Good News For BP And An Independent Scotland
    Tue, Sep. 16 COP, BP 4 Comments

    Summary

    • FT reports that Conoco is putting its North Sea assets up for sale.
    • Implies rumors of massive recent discovery are false.
    • Negative implications for BP, the operator of the block.
    • Negative implications for potential tax and economic base for Scotland if it votes for independence - the field is in Scottish waters.
  • Magnum Hunter And Spartan Surge After Equity Offerings
    Wed, May. 28 PTORF, MHR 5 Comments

    Summary

    • Magnum Hunter up 8% and Spartan up 3% the day of the offerings.
    • Unusual for stocks to perform well subsequent to "secondary" equity offerings.
    • Different uses of capital, but both apparently seen as accretive by the market.
    • .
  • Monterey Shale Is A Bust - Negative For Occidental Spin-Off And Other Implications
    Fri, May. 23 CHK, BFZ, GST 42 Comments

    Summary

    • The EIA wrote down 96% of the estimated recoverable oil from the resource.
    • This could negatively impact the anticipated spinoff of OXY's California operations.
    • Other companies are affected, including CHK's acreage position and VQ's LBO debt.
    • Could in theory negatively affect California muni bonds.
  • Spartan Energy May Double: Stellar Management Track Record, Cheap Valuation, And Production Outperformance
       • Sat, May. 3 PTORF, PTORF 32 Comments

    Summary

    • Among the best track records of any public company management team.
    • Already outperforming in the third entity they are running, with more to come.
    • Trading below analyst estimates despite beating guidance and projections - an unusual bargain!
    • Recent set of 10 wells produced 3x as much as expected in their first 30 days of production.
  • MLP Suspends Distributions - Second MLP To 'Blow Up' In 2014
    Thu, Apr. 24 APL, ATLS, BWP 38 Comments

    Summary

    • Eagle Rock has suspended its distributions until after the close of a midstream asset sale.
    • EROC had already traded down substantially in the past 12 months.
    • Second MLP to "Blow Up" in 2014.
  • The Next MLPs To Crash? Hedgeye Targets Another Pipeline MLP
    Mon, Apr. 21 KMI, KMP, BWP 116 Comments

    Summary

    • Hedgeye targeting another set of MLPs, already down.
    • Last MLPs Hedgeye targeted traded down substantially.
    • This time may be different, and Hedgeye was not as vocal about the big MLP blowup of 2014.
  • 3 Oil Companies Surprise The Stock Market With Gusher Wells
    Wed, Apr. 16 ATHL, GDP, HK 10 Comments

    Summary

    • Certain oil and gas plays are substantially outperforming production expectations.
    • The stock prices of these companies are rising.
    • Spartan wells outperform the most of these three, but US investors still don't know the name.
  • Tuscaloosa Disappointment Validates Investment Thesis, Negative Implications For Other TMS Players
    Thu, Feb. 20 GDP 17 Comments
  • Baytex Bids To Buy Out Aurora Oil: Investment Implications
       • Tue, Feb. 11 AAGLF 11 Comments
  • Boardwalk Blows Up - $3 Billion Of Market Value Evaporates In One Day
    Tue, Feb. 11 BWP 33 Comments
  • Pipeline Delay Kills, Benefits Railroads
    Sat, Feb. 8 TRP 82 Comments
  • Exxon, Chevron, Conoco And Shell Disappoint
    Fri, Jan. 31 COP, CVX, RDS.A 8 Comments
  • 3 Battleground Growth Stocks: Facebook, Tesla And Netflix
    Thu, Jan. 30 FB, NFLX, TSLA 14 Comments
  • Antero Resources' Massive Utica Well Results
    Tue, Jan. 28 AR 9 Comments
  • Seeking Alpha Top Idea Explained In Non Technical Language - AusTex Oil
    Wed, Jan. 22 ATXDY 38 Comments
  • Is Herbalife Regulatory Risk Too High To Invest? Nu Skin Aftermath
    Sat, Jan. 18 HLF 47 Comments
  • Sell Shell And Oil Majors, Buy High Growth Undervalued Juniors
    Sat, Jan. 18 RDS.A 22 Comments
  • Five Of The Fastest Growing E&P Companies
    Sat, Jan. 18 ATXDY, FANG, GPOR 22 Comments
  • Two Reasons Why Herbalife Was Not Bought Out In The Midst Of A Bear Raid - A Theory
    Thu, Jan. 16 HLF 9 Comments
  • The Next Great Investment Idea: AusTex Oil Is Trading At 1/3 Of Proved Reserve Value, Growing 300% Per Year
       • Sat, Jan. 11 ATXDY 98 Comments
  • High Yield, High Risk: Royalty Trust Wealth Destruction And Opportunity Update
    Dec. 30, 2013 CHKR, HK, MHR 18 Comments
  • GeoMet Preferred: The Little Preferred Issue That Has Outperformed Linn And Magnum Hunter
    Dec. 18, 2013 GMET 3 Comments
  • Brutal Weather Hurting Oil Producers, Benefiting Natural Gas Producers
    Dec. 17, 2013 AREX, GMET, KWK 7 Comments
  • Troubling Developments For These 2 Companies In The Energy Business
    Dec. 16, 2013 SYRG, GRH 2 Comments
  • Natural Gas Prices Surging, Driving Return Potential For This Leveraged Natural Gas Liquidation Play
       • Dec. 13, 2013 GMET 55 Comments
  • Is Alexander Energy The Next Magnum Hunter Or Halcon?
    Dec. 6, 2013 PTORF 13 Comments
  • Barron's Doubles Down On Approach Resources Despite Poor Well Results And Valuation
    Dec. 6, 2013 AREX 18 Comments