BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

TPL: Rising Production, Raising Estimates

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

<ul type="disc"><li>The steady rise in crude oil prices resulted in Texas Pacific Land (TPL) reporting an increase in oil and gas royalties in the second quarter.</li></ul> <ul type="disc"><li>An upward move in energy prices has helped restart activity in the Permian Basin. Rig count and overall activity remain depressed compared to pre-COVID-19 levels even though crude oil prices are now higher than they were in all of 2019. The slow progression in active rigs could result in accelerated activity in 2022 as budgets are adjusted for a higher oil price.</li></ul> <ul type="disc"><li>Second quarter revenue reached $95.9 million on an increase in oil and gas royalties. TPL realized royalties on at an average of $65.30 a barrel of oil. The barrel of oil equivalent was $40.83 in the second quarter. Quarter to date, the price of crude oil has remained above TPL’s second quarter average.</li></ul> <ul type="disc"><li>TPL ended the second quarter with approximately $329.1 million in cash. Management has been patiently looking for the right assets to acquire.</li></ul>

The steady rise in crude oil prices resulted in Texas Pacific Land (TPL) reporting an increase in oil and gas royalties in the second quarter. An upward move in energy prices has helped restart activity in the Permian Basin. Rig count and overall activity remain depressed compared to pre-COVID-19 levels even though crude oil prices are now higher than they were in all of 2019. The slow progression in active rigs could result in accelerated activity in 2022 as budgets are adjusted for a higher oil price. Second quarter revenue reached $95.9 million on an increase in oil and gas royalties. TPL realized royalties on at an average of $65.30 a barrel of oil. The barrel of oil equivalent was $40.83 in the second quarter. Quarter to date, the price of crude oil has remained above TPL’s second quarter average. TPL ended the second quarter with approximately $329.1 million in cash. Management has been patiently looking for the right assets to acquire.

Texas Pacific Land

TPL: Before Accelerated Growth