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Michael Fitzsimmons  

PRO Top Ideas
Top Ideas are high-conviction long or short ideas focused on market mispricings with asymmetric risk/reward profiles.
  • PetroQuest: Initial Woodford West Relay Wells Greatly Exceed Expectations, And The Stock Will Too
       • May. 8, 2014 PQ 18 Comments

    Summary

    • PetroQuest's strategic plan is to funnel free cash flow from its Gulf Coast assets to develop its Woodford acreage.
    • 50% of total 2014 cap-ex is allocated to the liquids-rich Woodford play.
    • It was a wise decision: production data on the company's first 6 well completions exceeded expectations by ~50%.
    • Today's Q1 EPS report was bullish: oil production increased 93%; net income of $0.15/share was up 275% and higher than full-year 2013.
    • As a result of the Woodford catalyst, and today's Q1 EPS report, I am raising my previous 12-month price target to $13 - more than double the current stock price.
  • Massive Johan Sverdrup Oil Field: Worth An Extra 30% For Lundin Petroleum
       • Feb. 12, 2014 LNDNF 6 Comments