At this point the DOE is poking the bear.

Here are the price differences for the avg american consumer from 2005 to 2025: Groceries: +155% Housing: +90% Healthcare: +120% Education: +58% ——— Gasoline: 0% Over that 20 yr span the US Oil and Gas Industry became a global energy superpower. This ^ is the result.

Calling c the "speed of light" completely misses the point. Rather, c is the "spacetime exchange rate": how many units of space you can exchange for one unit of time. In actuality, everything travels at the "speed of light", just not necessarily through space alone... (1/4)

Sankey always does a great job communicating the status of oil markets. Clear and concise. Recent cnbc piece is worth a watch.

Open AI: I will pay 2x spot rates to secure energy for my datacenter. Don’t care if it’s wind or coal. META: 5x spot rates. Any energy other than a melted down nuclear power plant lol Google: I’ll take that melted shit. 7x rates. Chamath: Energy costs are going to zero.

Sometimes you gotta step back and just look in awe at what the American Oil and Gas industry is capable of. Permian Basin Stats - 250+ companies - $500 billion invested - 50,000 wells - Made the US the #1 oil producer There's no other country on earth that could achieve this.

Those Tamboran Australian shale wells…not good. $TBN Based on IP results, well productivity looks like Barnett (1 bcf/1000), but with costs similar to Western Haynesville (>$20mm)…. And no market to sell the gas. Mgmt will hype this another 36 mos and then this will all end.

$DVN reports y/y D&C costs in the Delaware Basin have come down from $800/ft to $650/ft. Softening service costs play a role, sure. But this rate of change in the 10th year of a play is impressive af. Hats off to the $DVN ops team.

AI will end humanity because humanoid robots, who still lack the capability of peeling a banana, will power itself by drilling gas wells, mining materials, and assembling solar panels. Did I get that right?

2014-2018: Companies underwrote 30 wells per section in the Delaware. We laughed. 2019-2023: OOPS. Spacing and timing matter. What we meant was 12 wells/section 2024+: Nvmd, up to 40 wells/section is doable when sequencing development correctly The last point is true.

It doesn’t count as a rumor if nobody cares. $CRGY $VTLE

Don’t see the rational in a SM + CIVI merger. No asset overlap, too many basins. “Scale efficiencies” are achieved when growing within a single basin. Achieving “scale” by adding basins isn’t a thing. It’s a mess. In that merger, one company wins, one loses. Just ask $CTRA