On today's episode of Forward Guidance, Josh Young Chief Investment Officer & Founder of Bison Interests joins the show for a deep dive into the oil and gas industry. After a record year in 2022 for oil & gas, with energy being the best performing sector, 2023 has sent investors on "a wild ride" with crude oil retracing gains from its high of around $120 to around $75.
Josh walks through the relative performances of the oil majors, and the small/mid size cap companies he specializes in. As many oil & gas companies have restructured their balance sheets and paid down overhanging debt, is the stage set for an outperformance of the oil & gas companies that incurred tougher times throughout the previous decade. To hear all this and more, you'll have to tune in!
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Referenced In The Show:
The Bottomless Well: The Twilight of Fuel, the Virtue of Waste, and Why We Will Never Run Out of Energy: https://www.amazon.com/Bottomless-Well-Twilight-Virtue-Energy-ebook/dp/B009TCWKLC
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Timestamps:
(00:00) Intro
(00:21) A wild Ride In The Oil Market
(05:34) Oil Companies Profitability vs A Decade Ago
(15:22) Are O&G Companies Investing In R&D, Or Share Buybacks?
(18:57) Natural Gas
(23:58) Are Rising Production Costs Impacting O&G Companies?
(28:50) Permissionless
(29:53) Searching For Low Decline Producers In The Oil Market
(33:28) Baytex Energy (BTE)
(40:45) Josh's Oil Price Outlook
(56:19) Blockworks Research
(57:19) Investing In O&G Companies In The U.S & Canada vs Rest of World
(01:08:03) Overrated O&G Companies In The Small & Mid Cap Industry
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.