| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| RLT | 907 | $49.19 | $44,615 | 2.66% | $39.42 | $8,859 | +24.8% | — |
In short: The large gas-gathering system that acquired Aris at $25 — Aris chose to merge in rather than fight for scale.
49:45When you recommended it was trading around 23 bucks. It got taken out by Western Midstream Partners at $25. Tell me about Did you like that deal? What's going on with water in general? — The thesis with water is I think it's pretty simple. The Permian Basin is almost perhaps the most important reservoir in global oil supply and demand balances.
In short: Reference — the midstream business Oxy owns 40% of, "doing just fine at multi-year highs." The asset Smead thinks Oxy should monetize to fund buybacks — a live example of his sell-the-hedged-asset, keep-the-oil-beta capital-allocation view.
56:38They own 40% of that business. Well, if you go look at the midstream business right now, their stock prices haven't moved at all. They're doing just fine at multi-year highs, I think, in Western Midstream stock case. But if I have $6.4 billion in a mid-stream business that is doing fine right now, wouldn't I want to sell that midstream business and go out and reinvest that either in my own stock in a buyback or by just reducing my capital structure and returning that to shareholders in some way? I would. And
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