Chord Energy Corp (CHRD-Q)

Has it in his main fund and his income fund. Pure-play Bakken producer. Off the radar of US institutions, as it's just too small for that market. Vast majority of free cashflow will come to shareholders as buybacks, and over time this will drive a re-rating. An opportunity for very good upside.

Very good company with strong asset base and management team. Would recommend holding for the long term. Share prices are cheap, but entire market is cheap. 

Owns shares in energy income fund. Strong dividend yield that is sustainable. Excellent inventory, with good shale exposure. Premium pricing in North Dakota. Better names for capital appreciation, but a quality name. Would recommend for income investors. 

Likes it, owns a little. Trades at 3.5x cashflow, big enough scale. Good capital appreciation prospects.

He's been buying, now a full position of 4%. Returning 75% of free cashflow via buybacks. Report by Raymond James says it has the deepest inventory in the area of any producer. Ability to drive rerating over time. Target $243, 37% upside modestly, probably closer to 50% upside.

They recently bought Enerplus and remains a pure play on North Dakota. His favourite US name, though prefers Canadian oil. A good $14 free cash flow yield, but there are better opportunities.

ERF is being bought by a North Dakota producer, Chord Energy Management. He's bullish oil. Using an $80 per barrel baseline, CHRD next year (after they absorb Enerplus) should trade at 3.4x cash flow and 14% free cash flow yield (vs. most names at 7-8%). At a 5x multiple next year, CHRD would trade at $253 price target or 42% upside.

Recently re-established a small position, about 3%. Paying 75% of free cashflow to shareholders, debt free, significant discount to US peers. Big enough to attract institutional investors once the sentiment tide turns to energy. 50% upside at $80 oil. 

Pure play USA Bakken company. Good US option. Returning 75% of cash flow to investors. Strong management team. Better opportunities in Canada. Expecting 50% upside at $80 oil. 

Has since sold shares due to strength in share price.
Sees better upside in Enerplus.
Likes company - expecting ~50% upside.
Quality company over all.
Good for long term shale investors in USA. 

Made money and sold for a name with better quality and inventory depth. He does still own some in an income fund. CHRD is doing everything it should. See his Top Picks for a name with better upside relative to risk.

His only US name. Trades at a parity valuation with Canadian names. Very economic with 10 years of Bakken inventory. Rewarding shareholders with 75% of free cashflow. Lots of upside with increased price of oil.

US Bakken name with 10+ years of inventory.
Committed to return 75% of free cash flow to investors.
Will most likely see higher returns to shareholders in the form of dividends and share buybacks. 
Expecting a double in share price.
Excellent fundamentals going forward.
Only US holding.

Consolidator of Bakken assets in USA & Canada.
Trading at 1.8x cash flow @ $100 oil.
Currently trading at 19% free cash yield @ $80 oil.
Has committed to returning 75% of free cash flow yield.