Fundamental Idea Generation
Coverage Universe
Investment universe focused on approximately 300 companies within the energy complex
Analysts focused on one sub-sector each; finite coverage universe increases domain expertise
CIO purview across sub-sectors allows for dynamic capital allocation across the energy spectrum
Investment Research
In depth investment process rooted in security selection from bottom up, fundamental research
Extensive in-house modeling capabilities
Leverage deep industry networks with multi-decade relationships across management teams and buy/sell side
Sourcerock Idea
Typical Sourcerock investment profile:
High Free Cash Flow
Clean balance sheet
Solid management team
Capital discipline / return
Durability of business model across a wide range of commodity prices
Attractive relative valuation