Category: Tortoise Capital Advisors

Rob Thummel quoted in WSJ

Oil Volatility Picks Up, Putting 2019 Rally Under Scrutiny Portfolio managers move into less-risky investments; prices swing with Trump pressure on OPEC and Iran Volatility is picking up in oil markets following a powerful 2019 rally, prompting a retreat among portfolio managers into less-risky investments in a sector that many investors still view as hot. […]

Reuters with Brian Kessens

Occidental CEO Vicki Hollub makes bold bid for rival shale producer With a $38 billion bid on Wednesday for rival oil producer Anadarko Petroleum Corp, Occidental Petroleum Corp CEO Vicki Hollub has again grabbed the spotlight, as the oil and gas industry trailblazer squares off against Chevron Corp, a company four times Occidental’s size. Hollub, […]

Tortoise's Rob Thummel in Bloomberg

Occidental Bids $38 Billion for Anadarko in Plan to Beat Chevron Cash-and-stock proposal values oil producer at $76 per share Occidental says it made three offers to Anadarko since March The first major bidding war has broken out in the Permian. After being rebuffed several times, Occidental Petroleum Corp. on Wednesday made public a $38 […]

E&E News with Rob Thummel

Robots in the Permian? Climate concerns drive innovation Chevron Corp.’s $33 billion takeover of Anadarko Petroleum Corp. shows how some of the world’s supermajor oil companies are investing in the Permian Basin oil field as a hedge against a future clouded by climate change. The deal, announced April 12, will leave Chevron with about 2.4 […]

Nick Holmes quoted in Bloomberg

Oil Stumbles as Crude and Gasoline Declines Dash Expectations U.S. inventories fell by 1.4 million barrels last week: EIA Stock draws show tightening market but fall below API forecast Oil lost ground after government data showed U.S. crude and gasoline supplies shrinking less than forecast by an industry report. Futures in New York closed down […]

Rob Thummel comments on Oil

Oil Prices Near Five-Month High As U.S. Gasoline Stockpiles Tumble Crude oil prices held near a five-month high after U.S. government data showed the biggest decline in gasoline stockpiles since 2017, offsetting an increase in crude inventories. Futures in New York rose as much as 0.9% on Wednesday, while gasoline futures jumped as much as […]

Tortoise's Nick Holmes quoted in Bloomberg

Crude Oil Market Rallies on Fading Fears of a Glut Wagers on rising U.S. crude price reach highest since October Positive sentiment may be close to peak: U.S. Bank’s Haworth The oil market has all but forgotten last year’s price crash. Money managers haven’t been this optimistic about U.S. oil prices since early October, just […]

Tortoise's Rob Thummel in Wall Street Journal

Battered Oil Investors Dive Back Into Crude Signs suggest heavyweight producers from OPEC are cutting output and the breakneck expansion in U.S. shale drilling is slowing down Oil investors, their wounds still fresh from last year’s sharp selloff, are again growing bullish on crude. Supporting the confidence of hedge funds and other money managers: signs […]

Brian Kessens in Bloomberg

Oil Bulls Get Bolder as OPEC Cuts Lessen Odds of a Relapse Net-long bets on Brent crude rally rise most since August ‘Risks on the upside much more likely now’: portfolio manager Oil’s bulls are getting bolder. With production cuts orchestrated by OPEC taking hold and U.S. shale drillers promising to curb spending, hedge funds […]

Tortoise's Nick Holmes in Bloomberg

Oil Gains as Russia, Saudis Signal Commitment to Production Cuts Minister says Russia will hit OPEC+ output target by April Crude shrugs off bearish U.S. data to rally late in session Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a […]

Rob Thummel in S&P Global

Producers weigh DUC production at $50/b oil Highlights Market mixed if higher or lower price needed Platts: $50/b oil enough to bring production DUC decisions also hinge on takeaway ability Houston — The volume of drilled but unproduced wells continues to build across the US to record levels, but market sentiment is mixed on whether […]

Tortoise's Rob Thummel quoted in The Wall Street Journal

Fears Loomed Large in Oil’s Worst Quarter Since 2014 The U.S. crude benchmark finished the year 25% lower after a slump that shaved $30 off oil prices The oil market is engulfed by fears of a global growth slowdown, as worries grow that falling demand and robust output from major producers will lead to a […]

Tortoise's Graham Allen discusses Brexit on InvestmentEurope

Tortoise podcast: May, the condemned prisoner Tortoise senior portfolio manager Graham Allen has likened UK prime minister Theresa May to a “condemned prisoner choosing their method of execution” in his latest podcast outlining the options now facing the country on the matter of Brexit. Click here to listen to the podcast.

Robert Thummel from Tortoise in Barron's

Oil Market Bet: Iran Sanctions Won’t Boost Prices The oil market has had nearly six months to assess the possible effect of U.S. sanctions on Iranian oil exports. Surprisingly, the prospect of significantly tighter global supplies has resulted in lower prices. President Donald Trump announced on May 8 that he would end the participation of […]

Tortoise's Michelle Kelly in Mutual Fund Wire

Where One $20B Asset Manager Sees Strategic Opps When it comes to strategic opportunities, the team at one private-equity-backed Midwestern asset manager is open to M&A, alliances, and internal product development. For their due diligence on potential allies or targets, one factor rises above the rest. “First and foremost, culture is very important to Tortoise […]