Macro/Headlines/Events BKR U.S. Land Rig Count: Declined 10 rigs this week with rig count now below 700 rigs for the first time since May 2022.  Stepping back and looking at the decline relative to the Q4 peak, the biggest percentage decline has occurred…

Macro/Headlines/Events Exciting Monday as OPEC surprises the energy world with 1MM BBL/day cut to production and a nice size M&A transaction in the market. BB- Ovintiv to Buy EnCap Permian Oil and Gas Assets for $4.3B ($3.1B cash and 32.6MM shares)  Deal…

Macro/Headlines/Events BKR- U.S.  Land Rig Count was down 1 rig week/week to 753 rigs. For those that attended our Event in Scotland in late August, you will appreciate the Offshore Article below in the WSJ over the weekend. WSJ- The Offshore…

DEP Update:  Happy New Year!  An early release today as we will soon depart North Carolina to return to Houston.  Kicking off this weekend’s note is our first Ruminations piece by our newest team member, Bill Herbert.  This, in our humble opinion, is a…

Macro/Headlines/Events BKR U.S. Land Rig Count.  Down one rig w/w to 759 rigs.  This marks the third weekly decline, albeit the declines thus far are minor.  That said, the E&P commentary noted above, again from a small sample, is consistent with leading edge…