This week, I’m joined by Adam Anderson of Innovex to talk North Face, corporate decisions, the oil and gas Industry, CO2. Lots to unpack, and the most important thing is just having the conversation. #hottakeoftheday podcast Episode 92 w/Adam Anderson https://youtu.be/IiuY-BpGV-c   Audio Podcast   About Adam As Chief Executive Officer, Adam Anderson led the way in forming Innovex and continues to lead their efforts in bringing efficient and innovative solutions to the oilfield. He also held that executive position at Team Oil Tools. Previously, Adam was...

Can I borrow your platform? I have something to do. When DoorDash and Airbnb went public earlier this month, it struck me that their “product” was selling someone else’s asset. It’s highly capitally efficient and therefore has a seemingly high ROI (though profitability is a long term question), and investors loved it though it creates not but convenience. Social media platforms, such as Twitter and this one, lend you eye balls so you can share the things you have to say...

2020, more than anything, has brought with it the feeling that we are being treated like children. Perhaps it is no surprise. According to the Center for Plain Language, the average reading level a newspaper targets is Grade 8. But when you think about it, nothing in life is black and white. Even where to go to dinner requires discourse, and if you learned anything about real world problems in my book (WTF is Wrong with Everybody Else?), you will...

Earthstone continued the trend of consolidation today with the announcement of their acquisition of Independence Resource Management, a Warburg backed Midland basin company. Some metrics: an announced PV 10 of the PDP of $173 mm against a purchase price of $185.9 mm trailing 12 month EBITDA of $81.3 mm (but note in included 6 months pre CV prices) 4,900 acres with 70 locations having an IRR of 45% About 65% cash (~135 mm) and the rest in stock Some takeaways: ...

Make hay while the sun is shining. And in the land of oil and gas investing, it has been a rain, cold, snowy, dreary, no good very bad last few years. But... all bad things must end, if only of a moment, and the last 6 weeks has been incredible. Wisely, the hay is being made. Today, Antero announced it would issue $500mm of new debt to redeem old debt that is coming due in 2022. Last week, Talos did...

Oil and gas companies aren’t great at branding. We make a ubiquitous product that consumers purchase based on need more than price (natural gas and oil) but marketing is essential to brand building. Both your own personal brand and they of your company. This week we are joined by Clay McDaniel, that CEO of RIPL who yells building brands, the beauty of their app to help do it and life lessons he wished he’d known when he was younger. Enjoy!   #hottakeoftheday...

I listened to a great podcast this week from the show "Brought to you by..." on Philip Morris, the Marlboro man and the brand he made famous.  To hear ads from the 40s and 50s for cigarettes is entertaining for obvious reasons.  The menace is that ads are meant to sell products that, sometimes shouldn't be purchased for health reasons.  Unfortunately, we don't evaluate "financial health" in the same way as physical health and so we forget that in...

This week, I invite the co-host of the first podcast I ever went on and for founder of Digital Wildcatters. We talk GPAs and viral posts; what you learn from field, Bitcoin, asset bubbles, building a media company and what two people he would like to have a few rounds with in the octagon. You won’t want to miss it. #hottakeoftheday podcast Episode 90 w/Collin McLelland https://youtu.be/PLzJg7f8CXs   Podcast Audio  

This week, Engine No. 1 took a small stock position in ExxonMobil and with it, proceeded to send it a letter,asked to get on the board and for them to change their approach to the business.  No big deal, and a little humorous, I did that too with CDEV  and it was about as well received.  Activism is a tough road to take, but when the momentum of energy investing is on your side, as it has been over...

I will start by saying that until very recently, I loved Airbnb.  I won't belabor the single unfortunate hosting experience and subsequent drama it created in my life for the last 75 days, but I wanted to put that out there.  I don't own their stock, nor will I, and I'm unlikely to continue hosting through the platform.  Throughout 2020, we have rented our place in AZ (because revenue = good, as you know from What the F&@K is...