Key Takeaways CVX has shut down the Leviathan gas field due to Israeli security directives tied to regional tensions. The halt ends exports to Egypt, intensifying energy strain and disrupting Mediterranean-Europe gas flows. Plans to expand Leviathan's output to 21 bcm annually are now suspended amid escalating geopolitical risks.Chevron Corporation (CVX) , a Houston, TX-based integrated oil and gas company, has confirmed the complete shutdown of its massive Leviathan gas field, situated in the Levant Basi ...

Core Insights - OMS Energy Technologies Inc. has successfully listed on Nasdaq and is preparing for its inaugural earnings call, highlighting a strong operational foundation and commitment to financial management [1][3] Operational Highlights - The company has established long-term contracts and relationships with oil companies and service providers across Asia Pacific, MENA, and West Africa, including a new contract in Angola [4][6] - OMS is experiencing customer growth in Indonesia, attracting new clients and driving sales of surface wellhead and Christmas tree products [5] - A new three-year agreement with PTTEP in Thailand and a 10-year supply agreement with Saudi Aramco are expected to stabilize and significantly boost revenue [6] Geographic and Talent Pool Expansion - OMS operates 11 manufacturing facilities across six countries, enhancing its competitive edge by hiring local talent and participating in government contracts [7] - The company is exploring new jurisdictions to increase market share and expand its global reach [7] Product Development & Manufacturing Advancements - OMS is investing $1.1 million in Additive Manufacturing research to develop a metallic seal for high-pressure-high temperature gate valves, which is expected to improve supply chain efficiency [10] - The company is leveraging its manufacturing expertise to fulfill orders under long-term agreements with major clients, ensuring shorter lead times [11] Occupational Health, Safety and Environmental Management Enhancements - OMS holds multiple ISO certifications, including ISO 9001 and ISO 45001, demonstrating its commitment to quality and safety in operations [12] Strategic Development Initiatives - The company is focused on sustainable growth through R&D collaborations and exploring acquisitions and joint ventures to diversify revenue [13]

Company Overview - Diamondback Energy (FANG) shares increased by 3.7% to close at $154.91, with a notable trading volume compared to normal sessions, and a total gain of 5.2% over the past four weeks [1][2] Recent Developments - The company amended its credit agreement with Wells Fargo Bank, extending the maturity to 2030 and reducing interest rates, which enhanced investor confidence in its financial stability [2] - Escalating tensions between Israel and Iran have driven oil prices up, benefiting U.S. shale producers like Diamondback Energy due to concerns over the security of the Strait of Hormuz, a key oil supply route [2] Earnings Expectations - Diamondback is expected to report quarterly earnings of $2.72 per share, reflecting a year-over-year decline of 39.8%, while revenues are projected to be $3.41 billion, an increase of 37.2% from the previous year [3] - The consensus EPS estimate has been revised 6.4% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Industry Context - Diamondback Energy is part of the Zacks Oil and Gas - Exploration and Production - United States industry, which includes other companies like Comstock Resources (CRK) [5] - Comstock's EPS estimate for the upcoming report remains unchanged at $0.16, representing a year-over-year increase of 180% [6]

Group 1 - The core viewpoint of the news is that domestic crude oil futures experienced a significant increase, with the main crude oil contract rising over 5% on June 16 [1] - As of June 16, the main crude oil contract rose by 5.68%, reaching 542.90 yuan per barrel, while fuel oil and liquefied petroleum gas also saw notable increases [1][2] - The price movements in the futures market indicate a bullish trend across various oil-related contracts, including fuel oil and low-sulfur fuel oil [1][2] Group 2 - On June 13, commodity warehouse data showed that the inventory of medium-sulfur crude oil futures remained stable at 4,029,000 barrels, while fuel oil futures inventory was unchanged at 24,750 tons [3] - The data also indicated a phenomenon of "backwardation" in the market for fuel oil, asphalt, and liquefied petroleum gas, where spot prices exceeded futures prices [3] - The basis data revealed that the basis rates for fuel oil, asphalt, and liquefied petroleum gas were 40.77%, 1.54%, and 13.11% respectively, indicating varying levels of market dynamics [3]

Core Viewpoint - The ongoing conflict between Iran and Israel is causing significant volatility in oil prices, with energy company CEOs expressing caution in making predictions about future price movements [2][3][7]. Group 1: Company Responses - Lorenzo Simonelli, CEO of Baker Hughes, emphasized the unpredictability of oil prices, stating that attempts to forecast them are likely to be incorrect [2]. - Meg O'Neill, CEO of Woodside Energy, noted that the company is closely monitoring the conflict's impact on global markets and highlighted the significant effects on forward prices due to recent events [3][4]. - Both CEOs indicated a wait-and-see approach regarding their projects, reflecting the fluid nature of the situation [3]. Group 2: Geopolitical Context - The Strait of Hormuz, a critical waterway for global oil transit, remains open as of the latest reports, although there are concerns about potential Iranian actions to close it in response to the conflict [5][8]. - Approximately 20% of the world's oil passes through the Strait of Hormuz, underscoring its importance in the global energy supply chain [7][8]. - Historical precedents were cited by O'Neill, linking oil prices to geopolitical events, including World War II and the 1970s oil crisis [7].

Global Commodities Research 13 June 2025 Oil Flash Note J P M O R G A N Israel's attack on Iran raises worst-case scenario probability to 17% Israel launched a wide-ranging attack on Iran's nuclear program and military leadership overnight, striking dozens of targets in an operation that pushes the region into a new conflict with uncertain consequences. While the initial attack avoided energy targets, the Israeli offensive could extend over several days, with Iran vowing to retaliate, potentially having a s ...

13 June 2025 | 6:19AM EDT Oil Comment: Higher Risk Premium Near Term; Unchanged 2026 Forecast +1(212)357-4172 | daan.struyven@gs.com Goldman Sachs & Co. LLC Ephraim Sutherland Daan Struyven +1(972)368-0395 | ephraim.sutherland@gs.com Goldman Sachs & Co. LLC Yulia Zhestkova Grigsby +1(646)446-3905 | yulia.grigsby@gs.com Goldman Sachs & Co. LLC Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Di ...

Core Viewpoint - ConocoPhillips is currently viewed as the better investment option compared to EOG Resources due to its diversified portfolio and growth potential in LNG and Alaska, which enhances its ability to return cash to shareholders [12][13]. ConocoPhillips Overview - ConocoPhillips holds a leading position in Tier 1 acreage across key regions, including No. 1 in Delaware and Eagle Ford, No. 2 in Bakken, and No. 3 in Midland, with a cost of supply below $40 per barrel [3]. - The company anticipates generating $6 billion in incremental annual free cash flow through 2029, assuming oil prices average $70 per barrel, indicating a strong growth profile [4]. - ConocoPhillips plans to return a significant portion of its rising free cash flow to shareholders, aiming to grow its dividend, which currently yields over 3%, and repurchase over $20 billion of its stock in the next three years [5]. EOG Resources Overview - EOG Resources focuses on organic exploration in the lower 48 states and has recently made bolt-on acquisitions, including a $5.6 billion deal for Encino Acquisition Partners, to enhance its position in the Utica [7][9]. - The company expects to generate between $12 billion and $22 billion of cumulative free cash flow from 2024 to 2026, with oil prices averaging between $65 and $85 per barrel, allowing for over 6% annual growth in free cash flow per share [10]. - EOG has been increasing its dividend at a rate twice that of its peer group since 2019, with recent raises pushing its yield above 3% [11]. Comparative Analysis - Both ConocoPhillips and EOG Resources are recognized as well-managed companies with strong resource positions and balance sheets, enabling substantial cash generation and shareholder returns [12]. - ConocoPhillips is highlighted as the superior choice for investment due to its strategic investments in LNG and Alaska, which provide greater growth visibility and the potential for higher total returns compared to EOG [13].

Group 1 - Petroleo Brasileiro (PBR) is identified as a potentially attractive investment opportunity despite existing political risks in Brazil [1] - The upcoming election in Brazil is viewed as a potential catalyst for PBR's stock performance [1] Group 2 - The article emphasizes the author's background in algorithmic trading and macroeconomic topics, which may provide insights into investment strategies related to PBR [1] - The author has a conservative investment track record, with a notable portfolio yield of 12.84% last year at a beta of less than 0.6, indicating a focus on risk management [1]

Group 1: Stock Performance - Cenovus Energy (CVE) closed at $14.83, with a +2.84% change from the previous day, outperforming the S&P 500's daily loss of 1.13% [1] - The stock has increased by 5.72% over the past month, surpassing the Oils-Energy sector's gain of 5.03% and the S&P 500's gain of 3.55% [1] Group 2: Earnings Estimates - The upcoming earnings per share (EPS) for Cenovus Energy is projected to be $0.2, reflecting a 48.72% decrease from the same quarter last year [2] - Revenue is estimated to be $9.21 billion, indicating a 15.35% decline compared to the corresponding quarter of the prior year [2] - Full-year Zacks Consensus Estimates forecast earnings of $0.98 per share and revenue of $35.98 billion, representing year-over-year changes of -19.67% and -9.27%, respectively [3] Group 3: Analyst Ratings and Valuation - Cenovus Energy currently holds a Zacks Rank of 5 (Strong Sell), with a 20.53% decrease in the Zacks Consensus EPS estimate over the last 30 days [5] - The company has a Forward P/E ratio of 14.75, which is a premium compared to the industry average Forward P/E of 14.4 [6] - The Oil and Gas - Integrated - Canadian industry ranks in the bottom 5% of all industries, with a current Zacks Industry Rank of 234 [6]