Podcasts

Kosmos Energy: From Discovery to Disappointment

Kosmos Energy proved it could find major hydrocarbons. The harder problem was building a public company around discoveries that are rare, unpredictable and impossible to schedule.

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PES kosmos energy from discovery to disappointment 2

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Kosmos Energy proved it could find major hydrocarbons. The harder problem was building a public company around discoveries that are rare, unpredictable and impossible to schedule. This episode looks at why Kosmos changed its model, why that made strategic sense, and why the execution ultimately left shareholders disappointed.

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Oil Rich, Equity Poor: How Debt Ate Tullow Shareholders

Oil Rich, Equity Poor: How Debt Ate Tullow Shareholders

Debt can let shareholders control more oilfields, but it can also leave them with little of the economics. Tullow’s latest shock shows how valuable producing assets can survive while leverage erodes the equity beneath them.

The New World Energy Order

The New World Energy Order

An audio version of my World Energies Summit 2026 speech on the new global energy order: stronger oil & gas demand, renewed exploration, higher costs of capital, and what the next upstream growth cycle means for companies and investors.

Harbour Energy’s Valuation Discount Is Becoming Harder to Justify

Harbour Energy’s Valuation Discount Is Becoming Harder to Justify

Harbour Energy’s shareholder base, balance sheet and per-share economics are changing. As legacy holdings unwind and the enlarged portfolio begins to deliver, the case for its valuation discount is becoming harder to sustain.

Resource Duration Is Back. Cheap Capital Is Not. Risk Never Left.

Resource Duration Is Back. Cheap Capital Is Not. Risk Never Left.

Resource duration is back, but cheap capital is not. We look at how higher financing costs are reshaping project economics, shareholder returns and who should own long-life oil and gas resources through development.