Energy

The Boring Pick: Get a Double-digit IRR by Investing in Reciprocal Compressors

Swiss Old Economy Business for the Win

Aug 31 • Mihail Stoyanov

Choose Your Cuban Poison: Sherritt Equity Exposure or Sherritt Debt Exposure

How to Bet on Cobalt-Nickel Supply Chain in North America

Aug 12 • Mihail Stoyanov

Baker Technology Limited (SGX: BTP): The Double Discount

A cash box, an idle liftboat, and six forgotten AHTS tugs

Jul 21 • Mihail Stoyanov

The LatAm Yield: How to Buy the LatAm HY Market

Four Doors Into a Market Built on Real Assets

Jul 16

The Quiet Yield: How to Buy the Nordic HY Market

A report on the most overlooked credit market in Europe, and the four doors through which an individual investor can actually walk in

Jun 30

The Mid-Size FPSO Trade: How to Acquire a FCF Generating FPSO Fleet at 0.33 P/TBV

Another Malaysian Energy Play

Jun 23 • Mihail Stoyanov

How to Ride the Energy Bull Market: Shop for Refined Products and Cheap FCF-producing Assets

Thoughts about confirmation bias, sideways vs. directional volatility, Petrobras, and Harbor Energy

Jun 12 • Mihail Stoyanov

Offshore Support Vessels in the Malaysian Upstream: Purchase 24% FCF yield at 0.56x Price to TBV

Offshore Capital Cycle Play

May 29 • Mihail Stoyanov

Ecopetrol’s Long Duration Notes: Buying Political Change at a Discount

The May 31 Colombian presidential election is eight days away. The bond market is pricing the Petro regime in perpetuity. It is wrong. Here is the…

May 25

Thoughts on UAE’s Decision, OPEC Irrelevance, and Long Non-OPEC Picks

May Energy Report: The OPEC Edition

May 8 • Mihail Stoyanov

Colombian Oil and Gas Play: Pay $3.7/bbl EV/2P and Get >100% Upside Potential

Asymmetric Bet on "LatAm Oil" and "Long Colombia" Themes

Apr 29

Ghana’s Last Independent: Buying Tullow’s Bonds and Capturing IRR >15.0% on Senior Secured Debt

Senior Secured Notes with 10.25% coupon, plus 3% PIK, and 1.75% PIYC

Apr 9 • Mihail Stoyanov

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