The Western Investor Reenters the Gold Market

01/17/2020

We believe that the upcoming next leg of gold’s bull market will be driven by western buyers, a subject we discussed in our 2Q 2019 Letter. Last decade’s gold bull market, which lasted 10 years..

Modeling the Haynesville & Marcellus Recoverable Natural Gas Reserves

01/09/2020

In a previous post, we talked about how over the last nine years, the largest source of U.S. natural gas supply growth has come from the Marcellus shale. The Marcellus produces 22.5 bcf/d,..

Top 3 Goehring & Rozencwajg Posts of 2019

01/02/2020

Happy New Year!

 

While we are at the end of one year and the beginning of another, we'd like to take a moment to reflect on our writings. 

 

Below we recap our 3 most popular blog posts of 2019. ..

Natural Gas: A Potential Turning Point in a Decade’s Long Bear Market?

12/16/2019

The shale gas revolution began in earnest in 2005. Even though the shales were being aggressively developed, shale gas production in 2010 still represented only 20% of US supply. Of the 21..

BNN Bloomberg Interviews Adam Rozencwajg About Oil

12/04/2019

G&R Managing Partner Adam Rozencwajg was recently featured on BNN Bloomberg’s Weekly program with Andrew McCreath. During these two segments, Adam discusses an array of energy-related topics, such..

[New Podcast] Leigh Goehring and Adam Rozencwajg join Grant’s Current Yield Podcast

12/02/2019

Leigh Goehring and Adam Rozencwajg were recently featured on Grant’s Current Yield Podcast, where they spoke with Grant’s Interest Rate Observer founder Jim Grant and Deputy Editor Evan Lorenz.

..

Why the Narratives around Oil Supply and Demand are Wrong

11/20/2019

Often at the bottom of intense, grinding bear markets or the top of bull markets, investors will create a narrative to help explain the extreme price action. Today, the prevailing consensus view..

Oil: A Market Divorced from Reality

11/13/2019

“Over the last 120 years, we estimate it took 17 barrels of oil on average to buy one unit of the S&P 500 Index. Today it requires over 53 barrels.”

 

In the thirty years we have been investing in..

Declining Tier 1 Acreage and Slowing US Shale Oil Production

11/07/2019

What’s happening to US shale production? After growing by a torrid 145,000 b/d per month in 2018, shale production growth has ground to a screeching near halt. Since December, shale oil production..

[New Podcast] Adam Rozencwajg Featured on Financial Sense

10/23/2019

Goehring & Rozencwajg managing partner Adam Rozencwajg is constantly on the hunt for commodity sectors that are radically undervalued. This usually involves companies that have little-to-no..

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