Dan Steffens: US Oil Producers Need $60 to $65 Oil Just To Maintain Current Production Levels

Wall St. For Main St., Released on 7/16/20

Jason Burack of Wall St for Main St interviewed returning guest, President of the Energy Prospectus Group (EPG) https://energyprospectus.com/, Dan Steffens.

Dan Steffens is the President of Energy Prospectus Group (EPG), a networking organization based in Houston, Texas. He is a 1976 graduate of Tulsa University with an undergraduate degree in Accounting and a Masters in Taxation. Mr. Steffens began his career in public accounting, becoming licensed as a CPA in 1978. After four years in public accounting, he transitioned to the oil & gas industry with the bulk of his time (18 years) spent with Amerada Hess Corporation (HES). He served as the Hess United States E&P Division Controller from 1994 to 2001.

During this 30+ minute interview, Jason asks Dan about the supply and demand fundamentals for oil before and after the craziness in the oil markets from February through May.

Dan thinks that oil demand has rebounded substantially although there’s research and data that disagrees with him:
1) U.S. Demand For Gasoline Is Still Well Below Its Pre-Covid-19 Levels https://www.forbes.com/sites/jimcolli…
2) Asia Distillates-Jet fuel cash discounts widen on muted demand https://www.reuters.com/article/marke…
3) Shell CEO: Don’t Expect V-Shaped Oil Demand Recovery https://oilprice.com/Latest-Energy-Ne…

Jason also asks Dan about the balance sheets, hedging, cost cutting and free cash flow among the small and mid tier US oil and natural gas companies he covers.

Dan gives away a lot of his best oil and natural gas stock ideas in the interview but he has extensive research and valuation modeling behind the EPG paywall for subscribers.

Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at www.jasonburack.com.

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