| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| 401K | 26 | $92.40 | $2,402 | 0.10% | $75.32 | $444 | +22.7% | — |
In short: On the host's Kalshi market ("which companies will sign a Venezuelan oil agreement," Shell leading at 62%): "Shell is the most likely of those three, quite rightly priced… I would probably be long Shell short Exxon right there." A prediction-market trade, with the caveat that Shell is "pretty much into the gas" and the contract's small print matters.
This is a view on a betting market, not on Shell's shares. Kalshi lists a contract on which oil majors will sign a new Venezuelan oil agreement, and Shell leads at 62%. Sankey thinks that price is about right and would bet on Shell and against Exxon. Exxon and ConocoPhillips are still pursuing billions in court awards over Venezuela's past seizure of their assets and aren't likely to sign anything that gives those claims up. His caveats: Shell is mostly interested in Venezuelan gas, and the fine print on what counts as an "agreement" matters.
23:13So Shell is the most likely of those three quite rightly priced I think there I would probably be long Shell short Exxon right there. — the Venezuelan thing is quite marginal that's the only thing. So you've got to remember that we're in call it 100 million barrel a day market for oil approximately normalized.
In short: Named in the standfirst as one of the companies for which surging European gas prices are "creating opportunities." Not carried into the bullet summary, which restricts itself to the U.S. exporters — so Shell is a body mention only, and the specific case was not captured. (Row uses the NYSE ADR symbol; the primary listing is London.)
Shell is the world's largest trader of liquefied natural gas as well as a producer of it — it buys, ships and resells cargoes globally, not just the ones from its own fields. Barron's standfirst names it among the companies for which surging European prices are creating opportunities.
A trading business of that kind earns on dislocation rather than on the price level: when one region is desperate and another is well supplied, whoever controls the ships and the contracts to move gas between them captures the gap. A war-driven disruption plus record-low European storage is close to a textbook description of that condition. It also means the gain does not require Shell's own production to rise at all.
Shell does not appear in Barron's bullet summary, only the standfirst, so it is a secondary mention — and with the body not captured, the specific argument is unknown. The row uses the New York-listed SHEL shares; the primary listing is London.
In short: The seller, and the reason the asset was cheap and the staff were good. NAM Offshore was "a 50/50 joint venture between Shell and Exxon… originally this was Royal Dutch Shell main driver but they're equal shareholders." Two things he credits them for: technical pedigree — "Shell is a top-end technical company… a lot of formal training within the company in addition to that good hiring plus a lot of mentoring" — and asset integrity, "the highest standard you could get in the world." Two things he attributes the opportunity to: 15+ years of almost no drilling or heavy workovers offshore, and the fact that a Groningen-scale onshore business made the offshore "a logical sale." No view on the shares.
Shell appears as the seller, not as a stock. It owned half of NAM Offshore — the Dutch offshore gas business Tenaz bought — through a fifty-fifty joint venture with Exxon.
The interesting part is why a supermajor let it go. Shell's Dutch business was dominated by Groningen, the biggest onshore gas field in Europe, which was eventually shut down because producing it caused earthquakes. Against that, a scattered offshore portfolio nobody had drilled in fifteen years was, in Marino's words, "a logical sale." He is careful to say the neglect was rational for a company that size, not incompetence — the projects were simply too small to compete for a supermajor's capital, which is exactly the gap a small company can step into.
Two things Tenaz got beyond the rocks: the staff, trained and mentored inside Shell ("a top-end technical company"), and platforms maintained to what he calls the highest asset-integrity standard in the world — meaning no expensive catch-up repairs. No view is offered on Shell shares.
20:50So it's been pretty good organic growth in addition to the acquisitions. To specifically answer your questions there on NOM. So NOM is a 50/50 joint venture between Shell and Exxon. It's in Netherlands and of course originally this was Royal Dutch Shell main driver but they're equal shareholders.
In short: Held, and deliberately distinguished from the refining trade Barron's is still recommending: "Total and Shell are in our international strategy and those are majors, right? They're not necessarily refiners. I'm comfortable holding those." But they fall inside her broader caution on the integrateds — rich, and up because crude went from $58 to $86 rather than on anything company-specific. Net: a hold she is not adding to.
In short: Named once, as the evidence that the re-opening is a pattern rather than a one-off: "BP now joins Shell and Chevron in the reopening of the Venezuelan energy sector." No view on the shares is offered — Shell's presence is cited as confirmation of the Washington-to-Caracas sequence, and Shell has the existing Trinidad LNG relationship that makes the offshore gas exportable without a new build.
In short: Cited in the M&A wave — "Shell now coming with ARC" — a major deal showing US/global operators moving up into Canada's competitive inventory.
30:29You see Shell now coming with ARC. These are some major deals here and it's just because this inventory is very competitive relative to a lot of the plays that those companies have elsewhere. So last quarter or last year was one of the biggest M&A years that we saw about $30 billion worth of M&A versus prior years going all the way back to 2017 2018.
In short: Illustrative, not rated — named with Exxon as the two oil majors he knows have advanced AI far enough to mine their own well-log/seismic/completion data for correlations a human geophysicist could never compute, an example of the AI-efficiency "free warrant" being largest in oil & gas where the data is richest.
30:41So to me we have all these debates about gosh the mining companies just seem so undervalued in general certainly especially versus a lot of the high-flying tech industries but I feel like this is yet another reason why these companies are trading at discounts to their true value — and I think that's much truer in the oil and gas business where there's more data, AI at both Exxon and Shell the only two that I know about but probably others too has advanced to the extent that Exxon can
In short: A Fervo power-purchase counterparty — a major energy company taking geothermal offtake, named to show the breadth of large buyers behind the sector.
In short: A European integrated that cut its dividend during COVID — "not built for it," i.e. less financially well-run than the US majors that held theirs. (Also the kind of buyer Cheniere contracts cargoes to.)
Shell is a big European integrated oil company. He points to it as one of the Europeans that cut their dividend during COVID — his shorthand for being less financially battle-tested than the US majors, which held theirs.
It's also the type of large buyer that signs long-term contracts to take cargoes off Cheniere. Mentioned as a contrast and a customer rather than a recommendation.
59:40If you go to COVID, the price of oil went negative. Exxon, Chevron, ConocoPhillips, and even the high-quality large-cap E&Ps paid that dividend. The Europeans integrateds, they weren't built for it. — What do you mean? So, think about Shell, BP, Total, Repsol, Eni. They cut dividends during COVID. — not as well-run as the Americans.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.