Well, that was fun.  Oil broke below $46, gas below $1.75, and what little equity value remains got crushed in the worst week I can remember. But it’s a good thing and I’m going to tell you why. We are reliving 2014. U.S producers who didn’t use the last 5.5 years to learn how to run a business, to get debt under control, to raise equity when you trade at a premium and merge when you see the writing on the wall,...

Today DRW offers a calm, cool, rational special edition podcast to get you through earnings, coronavirus, and the remainder of the week. Thoughts on the episode? Please let me know by sharing in the comments below! Related Mentions: CoronavirusMalaria Mortality RatesUS Influenza Mortality RatesMicrosoftUnited AirlinesJP MorganPayPalNikeUnder ArmourCrisis of Balance SheetsContinental ResourcesAEGIS Energy RiskAntero ResourcesOccidental PetroleumExxonChevron

United Airlines pulled 2020 guidance as a result of the “outbreak.” Microsoft said it would miss segment revenues. The U.S. government has issued travel warnings. Almost everyone has grabbed the best excuse ever to lower their forecasts. Almost... You may have noticed but oil is down from $62 -$48 since January 2nd. So... can somebody walk me through why, of the 50 or so quarterly reports I've read, not ONE COMPANY has mentioned coronavirus ANYWHERE...

RE: What your BD team should be working on. Like the old joke about lawyers and the ocean, Monday’s press release presented a good start. First, congratulations to Mr. Papa who had a long and distinguished career and I applaud him for his decision to spend more time with his family. After 52 years, he deserves it. To the analysts that said “the stock might under perform in the wake of his retirement"… you have seen the stock chart,...

With the volatility in today's commodity price market environment, what better time to discuss financial hedging strategies than now with the experts at AEGIS Energy Risk, Matt Marshall and Rob Via. Supplemental to this podcast, you can also find Matt's February Market update video, complete with charts, graphs and highlights here. Thoughts on the episode? Please let me know by sharing in the comments below! Related Mentions: AEGIS Energy RiskCoronavirusOPECRussia - Vladimir PutinSaudi AramcoExxonAntero ResourcesApacheEIALibyan ProductionCentennial Resource Dev

Founded in 2002, Cimarex was born as the E&P spin out of Helmerich & Payne. It was the land before shale and the conventional oil and gas business was in decline in the United States. It was the time before horizontal Wolfcamp wells, before STACK cubes and before casual Friday's became "If you bring your brain to work, you can wear pajamas." Flash forward, tie on, to 18 years later and the founding principles (and principals)...

You may have missed it last week, so I wanted to circle back and highlight a press release in today's post. Succession planning is huge in a well functioning and exceptionally managed organization and this starts from the top. Board members who are aligned, knowledgeable, and approving decisions for the benefit of the shareholders. This ensures the continued high level performance at a company and shows how powerful the "G" is in ESG. It's not...

We talk fashion (because really, who better to talk fashion than a guy with gold tipped slippers), production growth (and why companies keep announcing they are growing), motivations behind movements and why if you are anti-frac, you are anti-American. DRW Shoe collection (mom, you jealous?) Highlights (can we call it that?) from quarterly earnings this week: ECA: strong hedge book, growing oil 4% XEC: 6-13% oil growth PXD: 10% growth in oil from 220 mbo/d to 235-245 mbo/d SM: oil growth of 5-10% on capex...

Did I read that right? Yes. You did. Like many of you, I like to engage in fact based discussions about frac'ing. Like, for instance, there isn't a "K" in the phrase "fracture stimulation". Or, how casing design, blow out preventers, and cement bond logs work to protect groundwater. I describe the depth of the zone vs. the depth of the fresh water. I describe that, even though I love golf, 36...

Let’s talk about Greta. Ask any author, actor, blogger, influencer, what it takes to build a brand and they would tell you it’s extremely hard. So how is it that a 15 year old from Sweden has found international notoriety? Sure. NOW she’s famous. But I’m talking about before. Michael Bloomberg has spent $400 mm of his own money to get into the Democratic race (with the Sanders/Warren wealth tax, he actually has a wonderful...