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February 14th, 2024: On Monday February 12th, Diamondback Energy ($FANG, NYSE) announced its acquisition of Endeavor Energy to add to its Permian basin assets.

September 5, 2023: A large Canadian infrastructure company is buying the Pipestone gas plant, in a transaction that stipulates plant expansion.

June 20th, 2023: Permian basin consolidation continues at a rapid pace. Only a few days after Earthstone Energy (NYSE: ESTE) announced its acquisition of Novo Oil & Gas Holdings LLC, Civitas Resources announced today it will be simultaneously acquiring Midland Basin assets from Hibernia Energy III, LLC and Delaware Basin assets from Tap Rock Resources.

June 16, 2023: The oil and gas M&A boom is in full swing, with Earthstone Energy (NYSE: ESTE) recently having announced it was acquiring Novo Oil & Gas Holdings LLC, a Delaware operator backed by private equity firm Encap, for $1.5B.

April 7, 2023: Ovinitiv (NYSE: OVV) is acquiring oil and gas assets in the Permian Basin from three private companies backed by Encap, a private equity firm: Black Swan Oil & Gas, Petrolegacy Energy & Piedra Resources.

January 20, 2023: The fundamental setup for oil and related equities remains compelling due to steadily rising demand and supply disappointments due to underinvestment and policy constraints.

A deep dive on small cap E&P valuations and the associated investment opportunity.

 Breaking down the key drivers of higher E&P cash flow.

A review of Bison research to date and the improving fundamental backdrop in the oil and gas space.

Our outlook for oil prices in 2022 and an overview and analysis of the DUC depletion in the U.S.

Touching on recent market volatility and opportunities in oil and gas moving forward.

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 in certain hubs skyrocketing, validating our predictions of looming supply shortages.

An update on Mid-Con market dynamics.

An overview of the Mid-Con region and it's poorly understood market dynamics.

There's a supply deficit at Waha Hub which is likely to persist for years.

The suburbanization trend is a poorly understood driver of higher oil demand.

Canadian E&Ps have lagged their US counterparts while fundamentals are improving.