The legal overhang is in the rearview after the settlement with the county. I wrote up my thoughts on why the CCC is a nothing burger (and now they are potentially a target of Elon Musk), but they are very close to having the pipelines ready to go, and they are working directly with the fire marshal, which has state and federal authority.
My recent post is the long (and more complete) version of that argument, but this thing is basically a dirt cheap, catalyst rich, complicated situation where the potential upside was worth the digging. The market won't really respond until first production, but this thing will get simpler over the next 3-6 months, and when that happens, shares won't be stuck in neutral.
Why would Exxon sell for 650M an asset that will generate 1.3 billions in a few years? My guess is that for whatever reasons (legal or technical) they are sceptical about the chance to restart production...
California puts rules on oil producers that affevt them globally. All major oil companies divested California assets, and now those operations are done by California only companies
The legal overhang is in the rearview after the settlement with the county. I wrote up my thoughts on why the CCC is a nothing burger (and now they are potentially a target of Elon Musk), but they are very close to having the pipelines ready to go, and they are working directly with the fire marshal, which has state and federal authority.
My recent post is the long (and more complete) version of that argument, but this thing is basically a dirt cheap, catalyst rich, complicated situation where the potential upside was worth the digging. The market won't really respond until first production, but this thing will get simpler over the next 3-6 months, and when that happens, shares won't be stuck in neutral.
Can you please point me to this more recent post? Thanks!
https://www.kontrariankorner.com/p/sable-offshore-more-drama-from-the?lli=1
Thanks!
Why would Exxon sell for 650M an asset that will generate 1.3 billions in a few years? My guess is that for whatever reasons (legal or technical) they are sceptical about the chance to restart production...
California puts rules on oil producers that affevt them globally. All major oil companies divested California assets, and now those operations are done by California only companies
wow Li Lu bought $32m last quarter. https://www.dataroma.com/m/m_activity.php?m=HC&typ=a
Yeah, it seems partially derisked enough for serious value investors, not just degens
greenhaven road also bought and wrote in his letter. he said he's never done oil and gas before. https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/672f714841861437b8578856/1731162441691/Greenhaven+Road+-+2024+Q3+FINAL-.pdf
for people who want to follow this story, i recommend:
https://x.com/CorneliaLake
and
kontrarian korner