Bitumen Bros
@BitumenBros
We manage a small, friends & family partnership investing in the 🇨🇦 oil sands
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In 2016 we launched our investment partnership focused on the Canadian Oil Sands. We contributed $500k of our own capital (no unit shaming!) and raised $1.5M from friends & family. Since then we achieved a 23.2% CAGR (vs 8.1% for $XEG and 11.2% for $XIU).
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SCOOP: Oilsands giant Cenovus Energy is said to be preparing a bid for MEG Energy, setting up a potential challenge to Strathcona Resources' hostile takeover offer. financialpost.com/commodities/en… $CVE.TO $MEG.TO $SCR.TO #OOTT #com #cdnecon
The worst part about Oil Twitter is the manic focus on the price of oil tomorrow, next week, next quarter, etc. The future price of oil is important, but unknowable.
Adam Waterous unscripted: a compilation pemcap.substack.com/p/strathcona-r… $SCR.TO Strathcona Resources Capital Allocation
This obscure 2017 FP interview is the best one-pager on Adam Waterous. $SCR.TO $GFR.TO $MEG waterous.com/assets/NewsFil…
If you are an oil producer, the events of yesterday tell you nothing about the future. They also do not change the uncertainty you deal with. However, it does change the daily amount of cash you collect for your product. You are receiving an excess benefit for risks that others
Is Strathcona going to successfully come away with MEG energy? In March @Cole_Smead said MEG was takeout candidate, now that it's got an offer how does he see it playing out? Watch the full interview: youtu.be/X7ZfeRB5Jsg?si…
Global upstream oil & gas investment is set to DECLINE 4% in 2025. Cost-adjusted upstream activity DOWN ~8% globally. US SHALE investment to DROP ~10%. Macro is strengthening towards production/supply decline. #OOTT
Strathcona chair Adam Waterous says the odds of a new oil pipeline to tidewater being built in Canada are improving, as well as a major carbon capture and storage project. But he warns that the hefty capital requirements will favour the largest players, potentially triggering a
Adam Waterous talk at Ben Graham Centre Value investing conference 2025. $SCR.TO $FFH.TO $FRFHF youtu.be/SmdAWuGsWH0?si…
Just thinkin'... If sharebuybacks are the chief plan going forward, then $MEG shareholders should (1) fire entire BoD & mgmt, which costs ~$4/bo to maintain (~$2/bo in SBC), while keeping the engineers who have kept SOR low, and (2) let share buybacks proceed automatically...
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