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The ZLT ended up 8.6% on the week last week in a quiet five days for oil and natural gas and as several key names rebounded from 2Q24 report season dips. US upstream activity remains a little more subdued than expected. Recession fears continues to modestly weigh on oil prices as does the potential for a easing tensions in the Middle East. Against this back drop we see little material increase in the decurtailment from OPEC+ in 4Q24. Look for requested name and owned name cheat sheet updates in the weeks ahead.
Free Stuff Last Week:
- Smart Sand 2Q24 Beat - This sand name is cheaper than dirt. If you're not a Seeking Alpha subscriber and want to read it ping us at zmanalpha@gmail.com and we can send you a free pass link - limited to 5. We spoke with the company after that piece and if you have questions about that or the updated cheat sheet in Friday's post please ask below and we will address Monday.
Holdings Watch:
- We added to one Oil Service name and one micro cap E&P last week.
- The trading blotter is updated.
Have a great rest of the weekend,
Z
