Today we had the pleasure of hosting Robert Catell, Chairman of the Advanced Energy Research and Technology Center ("AERTC") at Stony Brook University (go Seawolves!). Bob was previously the Chairman and CEO of KeySpan Corporation, the former Brooklyn Union Gas.

The AERTC's mission is to innovate energy research, education and technology deployment with a focus on efficiency, conservation, renewable energy and nanotechnology applications for new and novel sources of energy. Our discussion begins with some background on Bob's distinguished energy and power career and continues to discuss Stony Brook and their goal to develop the new technologies necessary for the energy field going forward. We are really excited about the work Stony Brook and the AERTC are doing. Thank you Bob for letting us be students today!

Our TPH crew, Mike Bradley and Colin Fenton launched the discussion with a brief energy and commodity market update. Colin explained how data from the NYM crude oil options market reveal derivatives traders were not surprised by the new Administration's policy decisions on Keystone XL, Dakota Access, or new leases on Federal lands and are, as of this week, more concerned about passing through the midpoint of a mild winter.

----------

Copyright 2021, Tudor, Pickering, Holt & Co. The information contained in this update is based on sources considered to be reliable but is not represented to be complete and its accuracy is not guaranteed. This update is designed to provide market commentary only. This update does not constitute an offer to sell or a solicitation of an offer to buy any securities. Nothing contained in this update is intended to be a recommendation of a specific security or company nor is any of the information contained herein intended to constitute an analysis of any company or security reasonably sufficient to form the basis for any investment decision. Past performance is not indicative of future results. Tudor, Pickering, Holt & Co., and its officers, directors, shareholders, employees and affiliates and members of their families may have positions in any securities mentioned and may buy or sell such securities before, after or concurrently with the publication of this update. In some instances, such investments may be inconsistent with the views expressed herein. Tudor, Pickering, Holt & Co. may, from time to time, perform or solicit investment banking or other services for or from a company, person or entities mentioned in this update. Additional important disclosures, including disclosures regarding companies covered by TPH’s research department, may be found at www.tphco.com/Disclosure. Tudor, Pickering, Holt & Co. (TPH) is the global brand name for Tudor, Pickering, Holt & Co. Securities, LLC, Tudor, Pickering, Holt & Co. Securities – Canada, ULC, Perella Weinberg Partners LP, and their affiliates worldwide.

Institutional Communication Only. Under FINRA Rule 2210, this communication is deemed institutional sales material and it is not meant for distribution to retail investors. Recipients should not forward this communication to a retail investor.

C.O.B. Tuesday Ep. 48 Featuring Robert Catell (Advanced Energy Research and Technology Center - Stony Brook University)

C.O.B. Tuesday