We believe successful long-term energy investing requires analysis that accounts for, and seeks to profit from, that cyclicality.
Our process puts an uncommon emphasis on a company’s long-term returns on invested capital as a way of measuring business quality and management acumen – traits that tend to be durable and commodity-agnostic
We think our process can translate current valuations into market expectations of long-term returns – allowing us to understand where return expectations may be too high or too low, and to invest accordingly.
We believe our analysis can provide a powerful, non-cyclical buy/sell discipline. We believe we can effectively compare companies across different sub sectors, creating an “apples to apples” framework, and stripping out commodity volatility.
Our hometown is the unsung hero of our process. Our principals’ deep relationships and connections in the energy capital allow us to constantly gain insight into how the energy market is evolving, whether we’re at work, lunch, or t-ball practice.