EnergyCents

Oil prices are up by more than 75% since the start of the year and recently crossed the psychologically important $100/barrel milestone. The corresponding rise in US drilling rigs, however, has been far more modest.  
S&P Global Energy Shale Sector expert Imre Kugler joins hosts Hill Vaden and Sam Humphreys to discuss activity levels in US shale, and why operators are hesitant to ramp up production despite higher prices.
Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en

Why are the world's largest oil companies turning their attention back to West Africa? In this episode of EnergyCents, Sam Humphreys and Hill Vaden are joined by S&P Global's Justin Cochran and Roderick Bruce to explore the region's deepwater revival. From promising geology and the pursuit of "needle-moving" discoveries to improved fiscal terms and faster licensing, the conversation examines what is drawing exploration capital to Africa's Atlantic margin—and whether this renewed interest can translate into the next generation of major oil discoveries.
Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en

Phillips 66 is a US-based downstream energy company that operates through five core segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels.
Sean Maher, Phillips 66 chief economist and head of investor relations, joins hosts Hill Vaden and Sam Humphreys to discuss how Phillips 66 is navigating the current high-margin, high-utilization environment and outline the investment priorities fueling the company's next leg of growth.
Learn more about Phillips 66 at: https://investor.phillips66.com/investors/default.aspx
Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en

What happens when plenty of capital enters the energy transition, but not enough of it reaches the companies best positioned to scale? In this episode of EnergyCents, Hill Vaden and Sam Humphreys speak with Francis O'Sullivan, Managing Director of Energy Investment at S2G, about "The Illusion of Crowds," a paper that challenges the idea that more investors automatically create a smarter, more effective market.
They discuss how capital has become highly concentrated, why this matters for the "missing middle" — companies beyond venture stage but not yet ready for traditional infrastructure finance — and what LPs and GPs can do to better support practical, scalable energy innovation.
Find out more about the paper and S2G here: https://www.s2ginvestments.com/insights/report-illusion-of-crowds
Learn more about S&P Global Energy here: Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en

Scenario planning allows investors and executives to prepare for situations outside of their base-case expectations. S&P Global Energy developed a new case called "Quagmire" that assumes conflict around the Strait of Hormuz becomes a permanent geopolitical feature and trade flows fragment in favor of regional energy security.
Oil markets experts Louise Vertz and Sandra Abdallah join hosts Hill Vaden and Sam Humphreys to walk us through the assumptions in S&P Global Energy's "Quagmire" scenario and explain what lasting changes could be in store for oil markets if disruption turns from months into years.
Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en