<![CDATA[Kontrarian Korner: Threads]]>https://www.kontrariankorner.com/s/threadshttps://substackcdn.com/image/fetch/$s_!31v-!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F72bf9770-fe2c-40fd-9af6-b3b71fb3b01a_242x242.pngKontrarian Korner: Threadshttps://www.kontrariankorner.com/s/threadsSubstackTue, 21 Apr 2026 18:31:06 GMT<![CDATA[Recent News On Calumet]]>https://www.kontrariankorner.com/p/recent-news-on-calumethttps://www.kontrariankorner.com/p/recent-news-on-calumetTue, 23 Apr 2024 18:59:51 GMTCalumet released an operational update last week and it looks like things continue to improve with the Montana Renewables (MRL) segment. Production volumes were up each month, and the inflection of MRL is one of the catalysts I laid out in my deep dive. From the commentary in the news release, it looks like the inflection will become more obvious to investors with the Q2 financials.

If they finish the MLP conversion and potentially get a low-interest rate loan from the DOE, I think the share price could be significantly higher over the next 12 months. They also got a $25 price target from an investment bank I’ve never heard of (HC Wainwright), so shares are up more than 5% today as I’m writing this.

]]><![CDATA[Peabody Completes Wards Well Acquisition & Coal Stocks Rally]]>https://www.kontrariankorner.com/p/peabody-completes-wards-well-acquisitionhttps://www.kontrariankorner.com/p/peabody-completes-wards-well-acquisitionTue, 16 Apr 2024 17:34:29 GMTThe coal sector is rallying this morning along with a rally in coal prices. Spring is typically a weak period for coal prices and stocks in the sector, so we will see if it continues.

Peabody Energy announced that they completed their acquisition of Wards Well to add to their Centurion mine. Last week, they lowered Q1 revenue guidance, so I’m sure we will hear from management on both topics with Q1 earnings.

Warrior Met Coal also got an upgrade from Citi recently, with a price target of $75, which is too low if you have a 3 to 5 year time horizon in my opinion.

]]><![CDATA[New Contracts For Borr Drilling]]>https://www.kontrariankorner.com/p/new-contracts-for-borr-drillinghttps://www.kontrariankorner.com/p/new-contracts-for-borr-drillingTue, 09 Apr 2024 14:17:55 GMTWe finally have some good news out of Borr this morning, with the announcement of new contracts for three of their jackups. The new contracts have an average day rate just over $193,000, which is a good sign for the next couple years. It’s still worth keeping an eye on their contracting activity to see what they do with the recently suspended jackup, but I’m looking forward to the Q1 conference call.

https://twitter.com/plmlindstroem/status/1777575348063891839

]]><![CDATA[Borr Selling Off (Again)]]>https://www.kontrariankorner.com/p/borr-selling-off-againhttps://www.kontrariankorner.com/p/borr-selling-off-againThu, 04 Apr 2024 15:22:44 GMTIt looks like it was premature to assume Borr would sidestep releases of jackups due to the higher quality of their fleet. Their jackup that was contracted with Aramco until October 2025 was suspended for a year, starting sometime in Q2. They will be looking for another contract in the meantime. Don’t think it’s a huge deal if you have a longer term time horizon, but might have an impact on day rates in the near term.

https://borrdrilling.com/news/borr-drilling-limited-contracting-update-2/

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