960v

OXY Low Carbon Ventures sells the first “carbon neutral” barrels. https://www.worldoil.com/news/2021/2/1/oxy-teams-with-macquarie-to-deliver-world-s-first-carbon-neutral-oil-from-permian-basin-to-india

A good summary of the argument starts at 7:01. By doing DAC, some argue that "perverse incentives" are created for oil companies. Not sure if I buy it, but the argument is repeated consistently on forums and in the media. NBC News Summary - "Bill Gates-Backed Carbon Capture Plant Does The Work Of 40 Million Trees" On a hilarious note; one of the youtube comments is "Who else came here after Elon Musk said he will give 100$ million for this tech?" With 62 likes.

Et tu Musk? I am sure some environmentalists are cringing at this, given that it is coming from the leader of EV. Let us see how it works out. "Elon Musk to offer $100 million prize for 'best' carbon capture tech." https://www.nbcnews.com/science/environment/elon-musk-offer-100-million-prize-best-carbon-capture-tech-rcna234

The FT beating the DAC drum for OXY a bit. ;D Occidental claims green push ‘does more than Tesla’ https://www.ft.com/content/eb8236e0-abfc-4d82-b6ff-540d36c501e9

The Direct Air Capture tech is what is interesting, and OXY has its first foot planted. If they can scale the tech successfully with their venture partners and start selling carbon credits and develop a renewable carbon fuel, it gets really interesting. With all the focus on global warming and DAC being one of the few economic alternatives, there is a growth thesis. I picked OXY up as a value investment, but after researching OXY Low Carbon, I now see a nascent growth play baked in. However, I wouldn't go into OXY just because of that, but hey, it's good to have DAC on board if it works out. https://www.oxylowcarbon.com/ https://www.1pointfive.com/

After, digging in I must concur with you on the Oaktree move. Very hard to value this overall with all of the moving pieces. This looks like a lottery ticket with ok odds at best, but its hard to put any serious weight in with all that's going on. Thanks for the other REIT recommendations I'll take a look.

ValueM - Interesting points. BAM also owns Oaktree, so I guess they figured it out. They must like the assets if they keep coming back? Lots of drama going on here with a SEC investigation and the PPP loans. It appears the SEC could wipe out AHT if hit it with fines and in turn this would also kill Oaktree senior notes? From a quick look at the balance sheet there seems to be nothing Oaktree can secure a note against. Seems odd that they would invest if they didn't expect the investigation to go away. https://www.wsj.com/articles/texas-hotelier-monty-bennetts-companies-under-sec-investigation-11596507852 Delist notice also didn't help their cause. https://www.wsj.com/articles/ashford-trust-receives-continued-listing-notice-from-the-nyse-due-to-non-compliance-and-intends-to-cure-01601583855?tesla=y Entertaining Q3 presentation, definitely no sugar coating by AHT. https://s1.q4cdn.com/906437698/files/doc_presentations/2020/09/v2/AHT-Preferred-Exchange-Offer-Presentation.pdf

Plus the new Oaktree note is senior to the pref. https://www.prnewswire.com/news-releases/ashford-hospitality-trust-secures-commitment-for-200-million-corporate-financing-with-ability-to-upsize-to-350-million-301198531.html Common could be of interest but you really have to sit down and figure out all of the dilutions that are about to happen. Common Dilution of 20% is in the works. https://www.sec.gov/Archives/edgar/data/1232582/000110465920138580/tm2037875-7_424b3.htm

Agree with you on Berkshire and their "reputation management;" I have done the sidecar with good results. Howard Marks seems to play a similar game with Oaktree, but I have heard some vulture snarls directed his way. Does Oaktree often do direct common equity take unders? or do they just kill the common holder when their issued notes go into default?

BG2008 - Indeed distressed financing at its finest ;D How would you say Oaktree is different than Berkshire when it comes to governance? Both seem to extract high interest loans and warrants with usually result in significant dilutions to common shareholders.

High End Hotel REIT Micro Cap with liquidity issues, but Oaktree just extended a loan to provide liquidity. https://www.ahtreit.com/ https://finance.yahoo.com/news/ashford-hospitality-trust-secures-commitment-130000402.html I am going to start digging into this one. Just curious to see if anyone had any experience with these guys? High risk and volatility for sure but if things workout there appears to be potential for a nice return. Their current portfolio looks promising if the vaccines take us back to near normal. https://www.ahtreit.com/portfolio.htm

The bull ride continues. Let’s hope we don’t have another crash to ten. United Airlines jumped on the DAC bandwagon today. There may be a growth story built into this value stock. Let’s see how it works out. It would be the ultimate comeback story if they can get rid of the preferred, and DAC actually takes off and they are a leader in the field. https://www.reuters.com/article/united-arlns-climate-occidental-idUSKBN28K1NE

OXY to sell Colombia assets for $825 million https://www.globenewswire.com/news-release/2020/10/01/2102266/0/en/Occidental-Announces-Sale-of-its-Onshore-Assets-in-Colombia-to-The-Carlyle-Group.html https://www.houstonchronicle.com/business/energy/article/Oxy-to-sell-Colombia-assets-for-825M-15612523.php

Baby steps in the right direction.

Sold! Wyoming lost the bid to Orion Mine Finance with a bid of $1.33 billion. https://www.oxy.com/News/Pages/Article.aspx?Article=6305.html