02
Mar
Wrap – Week Ended 03/1/24
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We had a few more comments than usual in last week's Wrap and little of that has changed so please check here. For the most part our big picture items to watch are progressing roughly as expected.
For the week ended 3/1/24 the ZLT was up 7.6% and we are up 5.1% on the year now. Earnings season was good for us in most aspects though our small renewable wedge continues to require more patience. We have a few stragglers reporting over the next two weeks and will largely be focused on full company updates for the next several weeks.
Holdings Watch:
- We add to one Bakken player, one EBOS name last week. We are overwhelmingly oily at this time.
- We exited our modest position in large cap liquids rich gassy player RRC up 22% on valuation vs our 2024 Base Case. We plan to push proceeds back into other owned gassy names with lower valuations soon.
- The trading blotter is updated.
Free Stuff Last Month:
- GRNT Seeking Alpha piece written @ $5.33 and pre dividend.
- CRK Seeking Alpha piece written @ $7.20,
- VTS Seeking Alpha piece written @ $21.17.
Questions and comments under The Wrap will be addressed in the Monday post.
Questions about the site may be directed to zmanalpha@gmail.com
Test drives are available for a bit longer on the Membership Options page.
Have a great weekend,
Z
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PEMEX Refinery closed by the Nuevo Leone State Government.
The CATEDEYTA Refinery (nameplate 275,000 BOPD) was reportedly closed for repeated refusals to admit state government environmental officials to test for & monitor pollution violations.
Am unable to post the web link, but the article first appeared on Reuters.
The state government has a long running battle over repeated gross pollution violations by PEMEX.
PEMEX claims the state has no authority over PEMEX.
March 2nd, 2024 at 1:39 pmOPEC+ cuts extending through 2Q.
https://www.bloomberg.com/news/articles/2024-03-03/opec-extends-oil-supply-cuts-until-mid-year-to-avert-a-surplus?embedded-checkout=true
March 3rd, 2024 at 10:39 amRussia to do an incremental 471,000 bopd cut in 2Q.
March 3rd, 2024 at 10:39 amre 1 – thanks.
March 3rd, 2024 at 10:41 amhttps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/030324-several-opec-countries-extend-output-cuts-through-q2-as-russia-announces-new-reductions
March 3rd, 2024 at 11:42 amInteresting reading watch:
https://www.thinkgeoenergy.com/interest-surging-for-superhot-superdeep-geothermal-energy/
March 3rd, 2024 at 12:53 pmInteresting reading watch:
https://www.alicat.com/knowledge-base/gyrotron-geothermal-drilling-discussing-the-implications-for-mining-oil-and-gas-and-hydrogen-production/#:~:text=Quaise's%20gyrotron%20geothermal%20drilling%20process&text=The%20gyrotron%20generates%20the%20heat,to%20clean%20the%20drilling%20pathway
March 3rd, 2024 at 1:03 pmhttps://www.opec.org/opec_web/en/press_room/7305.htm
March 3rd, 2024 at 6:06 pm