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  • Roger S. Conrad

Resilience and Green Shoots

By  Elliott H. Gue
Issue No.176 . Aug. 4, 2020

Natural gas never managed to break $2 per thousand cubic foot and oil prices actually went negative. So Q2 results for energy companies were never going to be pretty. And with Covid-19 uncertainty still a threat up and down the value chain, it’s little surprise second half 2020 guidance has remained cautious.

Nonetheless, we’re seeing unmistakable signs of resilience, as well as the green shoots of recovery. And both are good reasons to buy best in class energy stocks, which continue to offer their most attractive yields in memory.

One of the green shoots is what appears to be the first monthly rise in North American hydraulic fracturing activity in months, with the final count returning to levels not seen since April. July activity has been particularly robust in the Permian Basin. But there are some signs of improvement elsewhere also, including the Anadarko (Oklahoma), Bakken, Eagle Ford (Texas) and Niobrara (Colorado) regions.

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    Experts

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor