Bison Interests Content

Looking back on the success of Bison research to date.

An update on the ongoing energy crisis and disappointing OPEC+ production numbers. Bison estimates that spare capacity is overstated by at least 1.8MM bbl/d.

OPEC+ likely has less spare capacity than advertised. 

Oil demand will likely outpace new supply  and inventories are drawing down fast, resulting in a tighter market more susceptible to price increases moving forward. 

Supply chain disruptions and higher-than-expected demand are creating a structural shift that has resulted in inflationary price movements.

The suburbanization trend has accelerated since our first white paper on the topic year ago. As we move into a tighter-supplied market, subrubanization will remain an under-appreciated  driver of oil demand moving forward.

Bison's latest white paper dives into Canadian oil egress, additional transport capacity and the local price impact.

Shortages of natural gas have sent pricing at some hubs skyrocketing, which fits into research Bison has been publishing over the past few months. 

Shifting supply-side factors in the midcon region have caused local realized prices at Conway Hub to spike.

A supply deficit and change in mid-con propane exports have recently driven up basis prices at the Conway Hubs.

Sandridge is cheap compared to peers, associated with value destruction despite new management, and is exposed to a huge natural gas price torque.

Natural Gas Supply at Waha Hub has swung from a years-long glut to a deficit that may persist for years.