Close of Business Tuesday - Special Edition - Senator Kevin Cramer

We have a “COBT Special Edition” for you this week! We were thrilled to have the opportunity to visit with Senator Kevin Cramer of North Dakota this morning. We had plenty to cover with the Senator given the Dakota Access Pipeline controversy and how it affects the Bakken and America's national and economic security.   Senator Cramer was very generous with his time and thoughts and we greatly enjoyed the conversation. As you will hear towards the end, we also had some great conversation around the 45Q tax provision, the Paris Accord, and how the energy debate can be made more balanced and more bipartisan. For the good of the nation and the world, we need it. We are excited to keep pushing for what our friend Scott Tinker calls the “radical middle” and we appreciate your thoughts and suggestions as we try and get there.We want to say a big thank you to Senator Cramer on behalf of the energy community for giving us the "on the ground" view of the current environment in North Dakota.-----------------Copyright 2020, 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 Advisors LP, Tudor, Pickering, Holt & Co. Securities – Canada, ULC 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.