BTEGF - An Important Catalyst Is Coming For Energy Stocks Into Year-End

• As oil prices average well above $60/bbl (despite the pullback), energy companies are going to face growing pressure to increase capital allocation to shareholders.
• By the time of Q3 earnings announcement, we fully expect more companies to announce more shareholder-friendly capital allocation policies, providing a pivotal tailwind/catalyst into year-end.
• Companies with no debt and a positive cash surplus like SandRidge Energy have already announced very shareholder friendly buyback plans.
• We expect other lower debt leverage names to do the same into year-end.

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