PEMineralBro

@WAR527 how does this capital structure make sense?

Phoenix One LLC (private) Prospectus filed May 4 for $750 mm in 3, 5, 7, 11 year Senior Subordinated Notes payable in cash or compounded. Issuer will have $2.3 B in debt and $78 mm in equity after the offering. #toc12806_6" target="_blank" rel="nofollow noopener">sec.gov/Archives/edgar…

@askwhy_asshole @WAR527 Seems like a better deal than the traditional 20% over an 8% hurdle, right?

@WAR527 Curious your thoughts on the 12.5% management incentive fee as described here: tinyurl.com/3auhnxwf

WhiteHawk S-1 Registration for IPO sec.gov/Archives/edgar…

@johnarnold @EnergyCynic Care to speculate as to why?

It would take the CFTC about 5 minutes to figure out who this was and whether there was any misconduct, assuming they want to.

@willrayvalentin NGPs fund 12 has done very well with tap rock and hibernia.

I was once in a room w an MD for PE explaining our deal. He stopped me mid sentence and said “hold on. You just said these drilling results would be top quartile in terms of economics. If they’re not THE most economic wells being drilled then why would I invest in this deal?” A few weeks later I was in a PE portco presentation at Tulsa ADAM and I saw a slide where the guy was presenting his Caney Woodford company. He had a slide showing these were THE most economic wells being drilled in America. Everyone in the room had a good laugh. He had a 5 year commitment probably knocking down $1 million a year in salary. Since then, I’ve always imagined this scenario where PE is sitting in the room w some family office in NYC, explaining how all 5 of their portcos are drilling THE most economic wells in America… in different formations and basins. Yet somehow NGP hasn’t had a great fund since Energy Transfer 🤔 Anyways, there’s a club and you ain’t in it. Get used to it plebe.

@OutHouse_Landmn @JHandimeyer I saw this. Why are both EOG and Silver hill overlapping wells like this?

These prices have some of yall actin crazy

@FauxRight Need to clear that context window

Like, using these AI tools has generally gotten better every day, but now and then....

@WAR527 It would also widen the trade deficit which has been big marker for this administration

Good thread x.com/Big_Orrin/stat…

@johnthenoticer @Baby_Namu What does it look like if you control for income / age?

Germany has 39,000 Japanese citizens; only two of them were suspected of violent crimes in 2023. By contrast, out of 25,000 Algerians, 1,729 were suspected of committing a violent crime in 2023.

@johnarnold The main issue with trumps tariffs is they are arbitrary and invoke maximum uncertainty. None of them have been planned with thought or planning.

Had Bernie been elected prez he would have enacted tariffs and we'd be in the opposite world of Ds defending them & Rs intensely opposed. Had SCOTUS ruled differently and a Dem became prez in '29, that person would have fiddled around the edges but largely kept the tariffs.

@unusual_whales Counterpoint: copilot is hot garbage and i can’t find an email 2 weeks later

Microsoft AI CEO, Mustafa Suleyman, says that "most, if not all, professional tasks" undertaken by white collar workers will be fully automated by AI within the next 12 to 18 months

@FauxRight Slop bowls

What food do we eat today that in 1,000 years will be described as: “Primitive millennial peasant food — shockingly good with the right pairing.”

@Big_Orrin What crude oil diffs are you watching closest? Dubai/brent, urals/brent…wti/brent?

@GringoInvesting Don’t forget dollar is 8% less valuable than one year ago

Oil: so the last 4 years will have seen: ✔️Huge dump of US SPR into market ✔️Opec bringing all it's spare capacity to market ✔️Prod peak for the marginal producer of last 10 years ✔️Demand consistently outperforming estimates ✔️Per/ft crude productivity peaking in every US basin The bear case is: ✔️Regime change leading to *maybe* 1mb/d increase over 3 years (300k/year/increase from VZ) Am I missing anything?

@willrayvalentin Speaking of newly formed E&P names, I liked 406 energy. Unique and good back story. Don’t know the team though

Jade Owls Could there be a worse name for an oil company?

My feedback would be two columns: concern / action item to address concern.

No doubt the worst IR slide I could dream up for a company. If you had doubts about buying before, look no further.

@Jack_McClendon No, just blatant corruption.

Can anyone, literally anyone justify the PE exec pardon, Chengping Zhao pardon, Hernandez pardon, Trevor Milton pardon? Anyone?

@MineralBro If you know buyers here, I can back up the truck for them.

How are you guys not making money in minerals with deals like this floating around?

@WAR527 Oxy should buy them and sell more minerals to pay down the debt

As expected, $CIVI to explore sale. DJ and Perm after drop in price from $85 in Sept. 23 to $32.50 today. $CVX and $OXY among top producers in both basins, but scale of $CIVI?? bloomberg.com/news/articles/…

@atherton_chris is this leasehold?

Haynesville 1,411.5 acres in Bossier Parish, Louisiana sells for $14,125,000 ($10,003/acre) this morning on Efficient Markets 5 unique bidders placed 57 bids Bureau of Land Management, Eastern States Lease Sale 9-23-2025