An Update to the Update of One of My Favorite Energy Credits

Summary

The episode revisits the author’s earlier research reports from October and December 2025 on a leading natural‑gas utility, reaffirming its investment thesis built on ultra‑low leverage, a management team focused on debt reduction, high‑quality assets, and accelerating free cash flow. New commentary from company leadership at a recent industry conference is highlighted, confirming the firm’s continued commitment to these pillars and underscoring robust demand from LNG exports and power generation. The host emphasizes that the company’s bonds remain strong candidates for credit‑focused portfolios seeking both safety and exposure to growing natural‑gas demand.