14
Mar

Wrap – Week Ended 03/12/21

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Solid week with the ZLT up 8% (up 19% YTD).  Renewables caught a bounce while traditional energy and service took a breather as the commodity rally largely took a pause.

While rigs paused as well note that big hop in frac spreads.

Also note that Gas Buddy is reporting an almost full recovery in gasoline demand is underway, as gasoline pushes to a 20+ high on weak supply and a newly created deficit in inventories. While air traffic will take more time to fully recovery we have long viewed Spring 2021 / Summer 2021 as very much due for a massive passenger vehicle driving recovery.   Look for U.S. refiner throughput to cross over to positive comps YoY in a few weeks as well.

Free Stuff Last Week:  (None)

Holdings Watch: 

  • We added to one of our 4 gassy positions twice and added to our position in warrants in an EV related name.
  • The blotter is updated.

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Questions and comments under The Wrap will be addressed in the Monday post.

Questions about the site can be directed to zman@zmansenergybrain.com

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Have a good rest of the weekend,

Z

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2 Responses to “Wrap – Week Ended 03/12/21”

  1. 1
    zman Says:

    By the way:

    https://ir.bonanzacrk.com/news-releases/news-release-details/bonanza-creek-energy-inc-and-highpoint-resources-announce

    As expected shareholders approved the deal. It moves to the pre pack stage now.

  2. 2
    crysball Says:

    Z,
    Thanks in advance for the graphical presentation of frac spread data.
    It’s just that ‘a picture is worth a thousand words’….and there is just so much data to absorb each day.

    I’m a slope guy, and the graphical view of frac spreads provides rates of change more meaningfully than raw numerical data.

    Also, with the HPR prepackaged BK being better for BCEI, will this ultimately be reflected in share price….down the road when the dust settles on final terms of the negotiations with HPR bond holders ?

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