He thinks there is an opportunity with this one as the light oil differentials will compress again soon. The company sells into the Cromer market, where differentials are much tighter. This translates to high-quality valuations at a good discount. He expects steady eddy growth.

He is not enamored by the service fluid space. He feels there is not a strong negotiation position with customers, so he does not think they are benefiting from higher commodity prices.

He thought this was going to be a great year for WTI prices – hitting $70 per barrel. There always seems to be another concern for investors. He is not sure what the unicorn is needed to change things. He would prefer to purchase high-quality Permian producers.

He met with the new management and is convinced it is not enough to change investor perception. The level of distaste for the name is at all times high. Exposure in Utah is also hurting as investors see them alone and it is risky and boring.

This company has struggled to gain investor interest and he believes it will continue to do so despite the high yield. It is about 50% light oil so its exposure to wide differentials is limited. He thinks the dividend is sustainable. Yield 9.2%.

The company holds a lot of acreage in the Montney, but they face the challenge of growing cash flow and production with a natural gas concentration. There are better opportunities elsewhere. He is still bearish natural gas.

Although he is an oil bull, selling assets to clean up the balance sheet has limited the ability to improve financially despite the rise in oil prices. There are better companies to choose from.