Wrap – Week Ended 08/25/23



We are tied up again this weekend so this will be brief. The ZLT was down 1.9% on the week for a second week as economic concerns continued to be in focus for the group which has so far had a pretty good 3Q.

Summer and the usual lack of material news flow, other than the occasional Permian deal (see our Monday and Tuesday posts for coverage of the PR acquisition of ESTE with pro forma cheat sheet and 2024 model) are making for a bit of light volume profit taking in upstream and oil service. We're shifting upside targets to 2024 metrics and will continue to do so over the next couple of weeks as we walk through updates of key positions along with some requested names. 

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

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

Have a good weekend, 



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