Bison Insights Overview: Why You Should Subscribe
High-conviction oil and gas investment research, expert industry perspectives, and macro analysis from a professional energy investor.
On Bison Insights, I write about overlooked and misunderstood oil and gas investments, focusing on securities where I think the market is mispricing the asset value or upside potential.
I’ve spent nearly two decades professionally investing in energy. Bison Insights provides a real-time look at how I analyze the market, identify opportunities, and update my views as the facts change.
My Investment Approach
I look for large discrepancies between market price and intrinsic value, and I often find the best opportunities in smaller companies or securities that investors have overlooked or misunderstood.
My process starts with understanding the business, what it owns, how it generates cash, and why the market may be valuing it incorrectly. I also speak with executives, industry specialists, investors, and others throughout the oil and gas value chain to pressure-test my conclusions.
I prefer to focus on a smaller number of high-conviction ideas where I think the market is missing something important, explain the thesis clearly, and continue updating it as the story develops.
I or funds I advise own the securities I write about, which I disclose. These ideas can be volatile and involve a real risk of loss. What I generally look for is asymmetry, though, where the upside potential is much greater than the downside risk.
The Bison Insights composite tracker shows how the ideas have performed together since publication compared with the oil and gas sector and the broader market:
Example Idea: A High-Risk, High-Upside Warrant
One recent success case captures this approach was a set of warrants tied to a publicly traded energy services company.
On February 6, 2026, I published A High-Upside Potential, High-Risk Opportunity Levered to Oil and a Cyclical Recovery. The thesis was relatively straightforward: the company had high leverage to an offshore drilling recovery, its stock traded at a steep discount to replacement cost, and the warrants were a low-cost way to gain exposure to that recovery.
The thesis played out very positively over the subsequent period, resulting in substantial outperformance. On March 19, I exited the position, locking-in a 276% gain since publication:
This was an unusually successful outcome and shouldn’t be viewed as representative of what every idea will do. But it illustrates what I’m looking for and trying to share: an overlooked security where the potential payoff appears much larger than the market is pricing in.
Expert Interviews and Industry Access
As part of my research process, I regularly speak with the management of the companies I write about, including CEOs, CFOs, and other C-suite executives and sometimes other current / former employees of these companies.
Some of these conversations are shared directly through recorded interviews and live discussions, sometimes with subscriber Q&A. These expert interviews can be accessed here: Bison Insights Expert Interviews.
These conversations provide context that often doesn’t show up in a financial model or public filing. They help me understand management’s forward-looking capital-allocation priorities, operating conditions, industry constraints, and the risks that could challenge my thesis.
Macro Commentary
Oil and gas equities are affected by commodity prices, inventories, supply and demand, drilling activity, capital spending, infrastructure, and geopolitics. I regularly write about these broader forces and explain how they affect the specific securities I’m following.
For example, a recurring part of this work is tracking physical oil inventories. The Big Four inventory tracker combines U.S. crude oil, including the Strategic Petroleum Reserve, with gasoline, distillate, and jet fuel inventories. It helps show whether the physical data is confirming or challenging the prevailing market narrative:
I also share timely oil-market observations through articles, live discussions, and the Bison Insights chat, where I’m generally active on weekday mornings and share my real-time daily thoughts with paid subscribers.
What Subscribers Receive
Free subscribers receive high-level market insights, macro context, and an introduction to the types of oil and gas investment opportunities I’m tracking.
Paid subscribers receive the company and security names, thorough investment theses, supporting valuation and financial charts and tables, expert interviews, and regular updates.
Pro tier subscribers also access live in-depth idea and macro presentations monthly, with special Q&A sessions. This tier is oriented to larger oil & gas investors, industry executives, family office investors, and fund managers.
My hope is that the research helps you become a sharper and better-informed energy investor. My full, organized article directory can be found here: Bison Insights Article Directory.
If this is the type of research you find useful, I’d be glad to have you here. Subscribe to Bison Insights:
Disclaimer: This is for informational and educational purposes only. This isn’t an offer, solicitation, or investment recommendation. Please consult an advisor and do your own diligence. Past performance may not repeat itself.
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