The Trevor Rose Podcast

Hosted by Mr. Rose

Business Investing News

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Episodes

309

Latest episode

Nov 2026

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EN-US

About the show

Sharing insights on energy, finance & business related items

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60 recent

November 12, 2026Episode 3101 hr 17 min

Chris Kalnin (BKV) — Growing to 1 Billion Cubic Feet/Day

This episode we are joined by Mr. Chris Kalnin - CEO of BKV - a NYSE listed energy company with a market cap of ~$2 billion. Christopher (Chris) Kalnin is the Chief Executive Officer and Founder of BKV Corporation. He also serves as a Board Member for the company. Chris started BKV in June 2015 with the vision to create a one-of-a-kind, highly successful natural gas E&P company. Since then, he has grown BKV to over 350 employees with multiple assets across Pennsylvania and Texas. Prior to BKV, Chris was Vice President of Strategic Business Operations and Planning at Level 3 Communications (now Lumen). He has also served as a strategic advisor to the CEO at Thailand’s national oil and gas company PTT Exploration and Production (PTTEP) and as a consultant with McKinsey & Company. He started his career as a Financial Analyst with Credit Suisse First Boston. Chris received an HBA with distinction from The University of Western Ontario and an MBA from Northwestern University at the Kellogg School of Management, where he graduated summa cum laude. In his free time, Chris enjoys spending time with his wife and six kids and watching Southlake Carroll Dragon football. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects STEP, Sanjel and Wayfinder - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Guests may make forward-looking statements, which are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to each company’s public disclosure documents for important risk factors. Please do your own research, and consult professionals directly before making any investment decisions. Support the show

November 5, 2026Episode 3091 hr 28 min

Alex Verge (Journey) — From $0.06 to $6.00 a Share

This episode we are joined by Mr. Alex Verge - CEO of Journey Energy - a TSX listed energy company with a market cap of ~$400 million. Mr. Verge is the President and CEO at Journey and has more than 40 years of experience in the oil and natural gas industry. He has served as Director, CEO and President of NuVista Energy Ltd., and is a Member of the Association of Professional Engineers, Geoscientists of Alberta. He received a Bachelor of Science degree in Chemical Engineering from the University of Toronto, and a Masters of Engineering degree in Chemical and Petroleum Engineering from the University of Calgary. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects STEP, Sanjel and Wayfinder - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Journey Energy Today 02:43 A $31M Power Plant for $5M 06:35 Alex's Stake and the IPO 08:44 Early Career and Education 23:16 Sword Energy Origins 28:20 Redwater and Bank Line Cuts 32:01 Spotting the Duvernay 36:58 2020: Shares Hit 6 Cents 43:14 Enerplus Deal and Recovery 48:06 Forming the Spartan JV 1:02:54 2027 Drilling Outlook 1:11:39 Medicine Hat and Power Plants Support the show

October 29, 2026Episode 30858 min

Will Ulrich (Presidio) — 500% Returns Buying Old Wells

This episode we are joined by Mr. Will Ulrich - CEO of Presidio Production Company - a NYSE listed energy company with a market cap of ~$300 million. Will is co-CEO of Presidio since co-founding the company in 2017. He has over 18 years of energy experience and is focused on using technology and best practices to drive behavior change in the oilpatch. His mission is to create the industry's best return on capital employed by delivering the industry's lowest operating expenses, highest profitability and best emissions profile. He graduated from Harvard College with a degree in Economics and began his career as an investment banker at UBS. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects STEP, Sanjel and Wayfinder - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro: What is Presidio Production? 01:21 Why buy wells instead of drilling them 05:59 From Harvard to Wall Street 08:19 Atlas Energy and the Cohen family 14:07 First deals: Midstates, Apache and Templar 20:08 How asset-backed bonds (ABS) work 26:50 Going public through a SPAC 32:11 Getting more oil out of existing wells 39:46 Using A.I. in the field 46:23 Oil and gas prices, M&A and Canada 51:47 Message to shareholders 2026 Support the show

October 22, 2026Episode 3071 hr 15 min

Chris Carter (NGP) — 38 Years of Energy Private Equity

This episode we are joined by Mr. Chris Carter - Managing Partner of NGP Energy Capital - a Dallas-based energy private equity firm that has invested since 1988 and raised over $25 billion in cumulative capital commitments. As Managing Partner, Chris oversees NGP's efforts in sourcing, structuring, executing and monitoring investments. He chairs the Investment, Investment Process and Monitoring Committees and is a member of NGP's Executive Committee. Chris joined NGP as an Associate in 2004. Previously, he was a summer Associate at McKinsey & Company and an Analyst with Deutsche Bank's Energy Investment Banking Group, where he focused on financing and merger and acquisition transactions. Chris received a B.B.A. and an M.P.A. in Accounting from the University of Texas at Austin in 2002, where he was a member of the Canfield Business Honors Program. He also received an M.B.A. from Stanford University Graduate School of Business in 2008, graduating as an Arjay Miller Scholar. Enjoy. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp STEP, Sanjel and Wayfinder - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro: What is NGP? 02:31 Fund 14's first close 11:23 Stanford, McKinsey and returning in 2008 20:15 Ken Hersh's lessons: management first 23:44 Skin in the game 26:02 Barclays, Carlyle and the 2025 restructure 30:08 The shale hangover and NGP's new model 36:20 The case for energy private equity 45:20 How NGP backs management teams 48:32 Why not PDP, and the Permian math 51:59 Finding good rock: Hibernia and Tap Rock 1:01:19 Underwriting, fund life and continuation vehicles 1:07:53 Investing in Canada 1:12:05 Listener question: ABS and private credit Support the show

October 15, 2026Episode 30658 min

Terry Etam — $40B vs. $4B: Which Pipeline Gets Built?

Greetings & welcome back to the podcast. This episode we are joined by Terry Etam - energy executive, best-selling author of the The End of Fossil Fuel Insanity & contributor to the boereport.com Terry’s wide range of energy experience includes executive level positions , writing best selling novels & hands on experience in the field. You can find Terry's writing on the boereport.com as well as his personal website publicenergynumberone.com Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro 00:40 Pacific Link: the $40B West Coast pipeline 04:05 Why Ottawa has to be involved 07:52 Northern Shield and the Prairie Connector 11:19 Pipeline announcements and the Alberta referendum 14:45 The Mackenzie Valley Highway problem 20:37 Wilkinson's 180 on peak oil 24:19 Gas prices, rail, and the carbon tax 32:27 Investors are coming back to Canada 36:54 Hormuz and the new oil price floor 47:06 Oil demand, supply, and listener questions Support the show

October 8, 2026Episode 3051 hr 1 min

Adam Waterous (Strathcona) — How Canada Can 2x Oil Production

This episode we are joined by Mr. Adam Waterous - Executive Chairman of Strathcona Resources & Greenfire Resources - two TSX listed energy companies with market caps of ~$8 billion & ~$2 billion respectively. Mr. Waterous is also CEO of Waterous Energy Fund - a Calgary-based private equity firm with ~$3 billion under management. Prior to founding Waterous Energy Fund in January, 2017, Adam served as Global Head of Investment Banking and Head of Energy and Power, North America at Scotiabank, where he was responsible for all of Scotiabank's global Equity and Advisory activities and Scotia Waterous. Under Adam’s leadership from 2005 to 2016, Scotia Waterous was among the most active advisors in the oil and gas acquisition and divestiture market with transactions roughly evenly split between Canada, the United States and other countries. Adam co-founded Waterous & Co., a predecessor firm to Scotia Waterous, in September 1991 where he was a member of the firm's Executive Committee and the head of the firm. Scotia Capital acquired Waterous & Co. in 2005. Before co-founding Waterous & Co., Adam worked in the Mergers and Acquisitions department with First Boston Corporation in New York and in management consulting with McKinsey & Company in Toronto. Adam has been active in many industry, community, health, arts, and education organizations. In 2013, Adam was awarded the Queen Elizabeth II Diamond Jubilee Medal for his contributions to the community and, along with his wife Jan, the Queen Elizabeth II Platinum Jubilee Medal in 2022 for their work in advancing sustainable transportation solutions in their hometown of Banff. In 2017, Adam received the Lifetime Achievement Award from the Oil and Gas Council. Adam received the 2019 Lefaivre Award, presented to an individual each year by the United Way of Calgary for exceptional volunteer service and community involvement. Adam is a Member and serves on the Board of the Horatio Alger Society of Canada. Adam serves on the Advisory Board of the Fairfax Centre for Free Enterprise at Huron University. Adam is Executive Chairman of Waterous Energy Fund portfolio companies Strathcona Resources and Greenfire Resources. Adam holds an Honours Business Administration degree from the University of Western Ontario and a MBA from Harvard Business School. Being in the top five percent of his class at Harvard, he was designated a Baker Scholar. Enjoy. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 — Intro 01:24 — Why Adam bought Mt. Norquay 03:23 — Founding Waterous & Co. in 1991 07:35 — The first client: 1000 letters 13:11 — "Relationships will break your heart" 14:34 — What makes a deal work 20:07 — Access to capital and the returns record 23:47 — Three things the industry gets wrong 34:07 — Meota Central: modular SAGD build 39:01 — How Canada can 2x oil production 47:44 — The MOU: Who pays for the pipeline? 53:34 — Where does sidelined capital go? 58:33 — Questions from X Support the show

October 1, 2026Episode 3041 hr 3 min

Travis Pace (Fortuna Operating) - Building a 30,000 Boe/d Non-Op Business

This episode we are joined by Mr. Travis Pace - CEO of Fortuna Operating - a private company that manages a non-op energy portfolio of ~30,000 boe/d on behalf of North Hudson Resource Partners - a private equity firm with ~$2 billion under management. Travis Pace serves as CEO of Fortuna Operating, which manages all non-op funds on behalf of Fortuna and North Hudson. Prior to Fortuna, Mr. Pace founded Corbin Development Group, LLC, a privately held non-op company where he built and led the successful exit of a non-op oil and gas portfolio in the Delaware Basin. Prior to that, Pace founded a financial and commercial advisory firm for large-scale natural gas infrastructure projects around the world. Mr. Pace holds an MBA and BA in English from Texas Tech University, and an MA in International Relations from the Fletcher School of Law and Diplomacy at Tufts University. Enjoy. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro 00:09 Fortuna value proposition 02:54 Meeting Mark Bisso in 2017: How the North Hudson partnership works 08:04 Oil vs. gas mix 11:37 Fort Worth, Texas Tech, and buying Barnett leases at $200 a day 17:54 Selling Corbin Development Group 19:59 The non-op thesis 21:52 AFEs, drilling JVs & joint acquisitions 26:37 Fund mechanics: distributions & exits 41:52 The knock on non-op: paying for decisions you don't make 46:38 Why not just back operating teams directly? 49:12 Cygnet, Hawthorne and how Fund V rolled into HWN 1:00:31 Which basin excites Travis the most Support the show

September 24, 2026Episode 3031 hr 0 min

Bobby Tudor (Artemis) — 20 Years at Goldman & Building an Energy Investment Bank

This episode we are joined by Mr.Bobby Tudor - CEO of Artemis Energy Partners - and board member of Murphy Oil - a NYSE listed energy company with a market cap of ~$5.5 billion. Mr. Bobby Tudor is the founder and CEO of Artemis Energy Partners, an Investing and Advisory platform focused on companies involved in the Global Energy Markets. Mr. Tudor is also a Retired Founder and CEO of Tudor, Pickering, Holt & Co. Prior to forming TPH, Mr. Tudor was a Partner at Goldman Sachs and a leader of its worldwide Energy practice. Over his 30-plus year career in Investment Banking, he has worked on many of the defining transactions of the period, across most energy subsectors and geographies. Mr. Tudor lives in Houston with his wife, Phoebe. They have three children, Caroline, Margaret, and Harry. The Tudors are passionate supporters of the Arts, Public Education, Social Services, and Public Parks. Mr.Tudor chairs Greentown Labs and the Houston Energy Transition Initiative, and is past chair of the Greater Houston Partnership and Rice University's Board of Trustees. Mr. Tudor holds a BA in English and Legal Studies from Rice University, and a JD from Tulane. Enjoy. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro 01:11 Basketball to Goldman Sachs 08:31 Becoming a Goldman Partner 17:16 Leaving Goldman to Build TPH 24:21 Winning the First Client 29:40 Breaking Into Calgary 34:39 Competing With Banks That Lend 39:36 Consolidation Over Growth 43:10 The SPR Is Running Dry 46:15 Canada Vs. Venezuela 49:57 Questions from X 53:25 Artemis & Energy Tech Support the show

September 17, 2026Episode 3021 hr 33 min

Darcy Reding (Cavvy Energy) - LNG & $1,100/Ton Sulphur: The Evolution of Cavvy Energy

This episode we are joined by Mr. Darcy Reding - CEO of Cavvy Energy - a TSX listed energy company with a market cap of ~$700 million. Mr. Reding previously served as the Vice President of Operations & Geoscience at NAL Resources Management until the acquisition by Whitecap Resources in Q1 2021. Mr. Reding has 35 years of energy technical and leadership experience that spans across the upstream and midstream segments at NAL and previously with Norcen Energy, Northrock Resources, Samson Exploration and Enterra Energy Trust. Mr. Reding graduated from the University of Calgary with a Bachelor of Science in Chemical Engineering and is a Professional Member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Among other things we learned about Building North America's #1 Independent Gas Storage Company. Enjoy. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp Bunch Projects - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro 00:12 What Cavvy Energy Is & the $1,000–$1,100/Ton Sulphur Story 02:56 The Cavvy Rebrand: From Pieridae to Working Horses 04:36 The Goldboro LNG Story & Why It Died 07:09 Darcy's Path to CEO 10:04 Phase One to Phase Two: Debt Paydown & Growth Strategy 17:48 Sulphur 101: Why Cavvy Has So Much of It 35:53 Sulphur Pricing History & the 2026 Windfall 43:05 Locking In 2027: The $525/Ton Deal & What's Next for Sulphur 52:18 Natural Gas Properties: Waterton, Caroline & Jumping Pound 1:02:09 Wellbore Liability & the AER's New LCA Standard 1:04:37 Third-Party Processing: Three Deep-Cut Sour Gas Plants 1:11:45 Capital Allocation & the 2027 Drilling Program 1:18:40 The AIMCo Story: From 20 Cents to 44% Ownership 1:23:54 Questions From X Support the show

September 10, 2026Episode 3011 hr 25 min

Toby McKenna (Rockpoint) — Building North America's #1 Independent Gas Storage Company

This episode we are joined by Mr. Toby McKenna - CEO of Rockpoint Gas Storage - a TSX listed gas storage company with a total equity value of ~$3.4 billion. Mr. McKenna is the Chief Executive Officer at Rockpoint responsible for the management and performance of the corporation’s storage and retail distribution assets. He brings to Rockpoint Gas Storage over 30 years of experience in the energy industry with leadership roles across a wide spectrum of disciplines including gas storage and marketing, midstream operations, energy trading, business development and Acquisitions and Divestitures. From 2014 to 2020 he was cofounder of Tidewater Midstream Ltd. where he served in multiple roles including Director, President and CEO, Vice President of Business Development & Commercial and most recently as President, Midstream. From 2010 to 2014, he was Vice President, Natural Gas Trading for Castleton Commodities Canada and prior thereto was cofounder of its predecessor, Louis Dreyfus Energy Canada in 2003. Mr. McKenna obtained his Bachelor of Business Administration from Saint Francis Xavier University, Nova Scotia (1994). Among other things we learned about Building North America's #1 Independent Gas Storage Company. Enjoy. Newsletter: Subscribe Here Thank you to our sponsors. Without their support this episode would not be possible: Connate Water Solutions ATB Capital Markets Remote Power Corp - *This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions. TIMECODES: 00:00 Intro 00:29 What Rockpoint Is: ~280 BCF & Six Facilities 03:12 The Put Option That Didn't Exist for 30 Years 04:08 Going Public: $700 Million, 10x Oversubscribed 07:13 New Brunswick to St. FX: Early Days 10:41 Learning the Business: Trading, Losses & Lessons 16:29 Building an NGL Business Plan 25:11 Trading Storage at AECO, Then Running Rockpoint 30:58 The Oversupply Story & What Changed 33:54 New Demand: 20 BCF Gulf Exports, LNG, Data Centers 37:03 The Gulf of Mexico Analogue: Storage Values Up 300% 40:03 Depleted Reservoirs vs. Salt Caverns 43:34 Why You Can't Just Build Your Own: The White Space Problem 58:12 Leverage, Dividends & Capital Allocation 1:08:39 Brookfield, the Lockup & the CPUC Application 1:15:09 Access Gas, Questions From X & Why He's Bullish on Canada Support the show