Understanding the Trade and Cyclical Nature of the Oil and Gas Business

Kaes has worked at Diamondback Energy since July 2016 in various roles and as President and CFO since February 2022. Prior to that, he was CEO of Bison Drilling and Field Services in Midland, TX from September 2012 to June 2016. He began his career at Citigroup as an investment banking analyst, and worked for Wexford Capital prior to joining Bison.

On this episode, Chris and Kaes discuss:

• Learning the Oil & Gas business
• A timeline of Diamondback Energy
• The Permian Basin
• How to get people to love Oil & Gas again

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Links

Diamondback Energy

Kaes on Twitter

Topics

(00:01:48) - Kaes’ career & tennis

(00:09:32) - Learning the Oil and Gas business

(00:16:37) - Building Windsor

(00:26:15) - High yield vs. investment grade businesses

(00:31:20) - Diamondback’s merger with Energen Resources

(00:34:12) - Experiences during Covid

(00:39:03) - How do you source deals?

(00:42:18) - The 2021 market

(00:45:24) - Hedging

(00:46:41) - Thoughts on the Permian basin

(00:49:09) - Being a low-cost producer

(00:52:07) - Learning to manage people

(00:53:43) - Thoughts on the $60b Pioneer acquisition

(00:55:28) - Is there a way to make people love OIl & Gas again

(00:01:46) - This business is a trade

(01:03:06) - Are investors coming back into the space?

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