00:08:30 Silent treatment. @jleqc homecoming. What has been seen while on the road.
00:20:00 @Prairieboydave takes the stage to discuss @FreeholdRoyalty
00:23:00 Dave explains the royalty company business.
00:25:00 @BJamz2022 asks about Freehold's Q2 and recent events. 00:28:00 Mark asks about investing in U.S. assets vs. Canadian.
30:30 Dave discusses Freehold's increasing leverage by 22YE. @rockcreekfreak asks about natural gas royalties paid to Freehold. Why primarily focus on AECO pricing?
00:37:00 Mark asks about FOREX risk and if Freehold is considering a U.S. listing.
00:42:00 Important tax considerations for potential U.S. owners of $FRHLF ($FRU's OTC listing). Do your own due diligence, team!
@AhmedBa44329064 asks about the Midland assets. Will production be delayed because of staffing issues?
00:50:30 @RazorOil asks why $FRU trades at such a low multiple vs. peers?
00:57:00 How does $FRU keep from overinvesting in the business at the wrong time in the cycle? What is the company's right size? Mark: Would the company diversify in potash or other commodities? Dave discusses what Freehold would do to stay in business for the next 25 years.
1:07:00 @timber001 joins and begins a discussion of the macro vs. recent prices -- headlines vs. reality. Does a potential Iran deal change things? Congrats to Joe on his son! Mark: What's in a "Burt Reynolds"? @HalfbeardCanada joins.
1:14:00 @ArtVandelay_II gives a top-down view of things from a portfolio manager's perspective.
1:21:30 Mark asks about Canada's CPI print. Arthur is skeptical and anecdotally discusses mortgage rates. Then discusses scarcity and inflationary pricing.
1:35:30 @AhmedBa44329064 and @jleqc provide their perspectives on the current situation and balance against Arthur's short-term bearish approach (heavy cash).
1:45:00 @energyburrito
gives a food review (of himself!) and discusses his overall view of the oil market and energy. Arthur recommends @hendry_hugh's podcast with
https://podcastaddict.com/episode/143692084
1:55:00 Burrito is scaling in -- to small/microcaps?
Burrito gives a shout-out to @WhiteTundraSG and his recent smallcap session. and ...
1:59:00 Shubham joins and discusses the weakness in the physical market. Kazakh production has dropped, but this hasn't affected the market as of yet.
Shubham talks about Iran and discusses how Russian NG wells might be down through April. It's a good time to hedge if you're selling into Europe.
2:10:00 Shubham previews some names he'll be talking about in future sessions. Shubham thinks small caps are well positioned here.
Nandospage starts a discussion of Russian/Iranian tanker use. Shubham will be discussing Peiridae ($PEA) soon. A name I held and got out of a few months ago. We discussed $PEA with @Zeal1203 @jim_duffus @BarrsDorian @brianhumphrie19
https://ds2112.substack.coam/p/high-energy-tuesday-ep-9?src_iid=a076d655-2816-400d-8de0-ce25b4651f50&utm_source=twitter&utm_medium=social&utm_campaign=twitter-embed#details
Shubham is a Californian, but he's not moving to Portugal.
2:24:00 Shubham discusses a potential floor of $200/BOE NG. With ~100% taxes on oil/gasoline in Europe, why would NG pricing go lower than that?
@rockcreekfreak discusses zinc mooning because of a smelter shutting down in Europe.
2:29:00 Rock on Request! RCF discusses the Montney and how overcapitalization leads to misleading production numbers. Professor RCF discusses how "cubes" yield more gas, fewer liquids.
2:44:00 @mfwarder joins. Matt discusses some of the carve-outs for West Virginia in the Manchin bill (aka the Inflation Reduction Act). Matt clarifies what the suspension of new leases on US Federal lands really means.
2:58:00 Matt discusses the pricing companies will negotiate during annual contract discussions. A lot utility commissions aren't giving sufficient guidance to allow companies to negotiate multiyear deals.
asks about buying opportunities during shoulder season. If thermal drops 15-20%, then Matt would be adding.
3:05:30 @ReserveList joins. Matt expects new highs for thermal.
3:12:30 Distinguishing characteristics for met and thermal?
asks about $WHC. "My biggest position," Matt says. Matt breaks down which customer nations get thermal and met from producing countries. Joe S. asks about $ADES.
3:28:00 Is Whitehaven still flowing 100% FCF? The company doesn't trade like US names.
High-Energy Tuesday