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Independent Research & Consulting
LNG & Energy Infrastructure
Utilities, Midstream & IOCs
Renewable Energy
Marine
Corporate & Buyside Consulting
WHO WE ARE
Webber Research & Advisory provides independent research and consulting services for institutional investors, corporates, project developers, private equity, and family offices. We focus on providing market leading coverage and analysis across the LNG & Energy Infrastructure, Renewable Energy, Utility, Midstream, IOCs, and Marine industries.
We are committed to adding value through a mosaic of context, insight, thought leadership, hard work, and diligence – creating unparalleled research and tailored, bespoke solutions for our research and consulting clients.
Our team
Michael Webber, CFA
Managing partner
Michael Webber, CFA
Managing Partner – Export Infrastructure
Mike co-founded Webber Research & Advisory in 2019, and has spent the past 13 years in equity research covering Export Infrastructure, Shipping, & Transportation at Wells Fargo & Deutsche Bank. Mike has been named to Institutional Investor’s (I.I.) All-America Research Team in each of the past 5 years, finishing as the #1 ranked Shipping & LNG analyst in 2019, 2018, 2017, 2016, & 2015, and part of the #1 ranked Natural Gas team in 2019. He was named the sector’s best stock picker by the FT 2013, #2 in 2012, named in Business Insiders: Rising Stars Of Equity Research Under 35 in 2017, and is a NAMEPA award winner for his work in ESG. Mike graduated from the University of Virginia in 2004.
Greg Wasikowski, CFA
Associate Partner
Greg Wasikowski, CFA
Associate Partner & Co-Founder
Greg was a senior member of the #1 I.I. ranked Wells Fargo LNG, Shipping, & Equipment Leasing team from 2017-2019, prior to which he worked in Consulting for RSM US LLP. Greg attended Bucknell University where he majored in Accounting and Financial Management and was a member of the baseball team. Greg holds the CFA designation.
Chris Tsung, CFA
Associate Analyst
Chris Tsung, CFA
Associate Export – Infrastructure
Chris joined Webber Research & Advisory in 2019. Prior to joining Webber R|A, Chris was an AVP at DWS in Strategic Planning & Analysis for their Alternatives platform. Prior to that, Chris spent 6-years at Deutsche Bank in their private equity group as a key member of the investment management team overseeing $4.9B in AUM. Chris began his career with Citigroup in private equity fund administration. Chris is a graduate from the Zicklin School of Business at Baruch College and holds the CFA designation.
Tim Biggins
Operating Partner
Tim Biggins
Operational Partner
Tim Biggins has over twenty years of leadership experience in technology consulting, healthcare equity research and institutional equity sales. In that time, he has led multinational technology projects, co-authored numerous company and industry equity research reports, and driven sales efforts at top equity accounts for several multinational banks.
Eric Smith
Managing Partner, EPC Risks
What we do
Equity Research: Leading Coverage Of The LNG, Marine, Renewable Energy Sectors
Industry Research: Thematic, Detailed Analysis of Sector Trends & Market Dynamics
W|EPC: Detailed Energy & Utility Project Coverage
Consulting: Financial, Commercial & Technical Analysis, Bespoke Engagements
Consulting: Market Research, Board Presentations
Consulting: Independent Valuations, Fairness Opinions
RECENT HIGHLIGHTS
Webber R|A Renewables Weekly
Renewable Energy Weekly *REGI (Outperform) – Virtual NDR Weds 5/27 To participate email us directly or at info@webberresearch.com Renewables - Weekly Highlights: • GE To Add 193MW Onshore Wind In Turkey – Blades Built In-House (page 1) • SPWR Sells O&M Business,...
W|EPC: Objections To Venture Global’s Storage Tank Design
Venture Global – PHMSA Objects to Calcasieu Pass LNG’s Storage Tank Design A day after Venture Global successfully raised the first LNG storage tank roof (4/27/20) at its Calcasieu Pass LNG facility, PHMSA issued a memo (4/25/20) to FERC objecting to the LNG storage...
Webber Research: Renewable Energy Weekly
ENPH Partners With 5B In Australia GE Renewable Energy Q1 Earnings Sunpower COVID Updates Safe Harbor Deadline Extension Brought To Treasury BNEF Semi-Annual LCOE Update (Page 2, Charts On Page 4) New York Approves Offshore Wind Plans, But Delays Action Due To COVID...
Tankers: Moving From OPEC Trade, To Global COVID Relapse Hedge
Tanker Q120 Preview & Storage Update Thesis (EURN, DHT, FRO, ASC, etc) .....................Pages 1-2 Floating Storage Scenario Analysis......................Pages 2-5 Tanker Rates Reactions & Implications .................Page 5 Multi-Factor Supply/Demand...
Exxon, Qatar & Golden Pass: Something’s Gotta Give
Analyzing Project Costs & Logistics In The COVID Era (Part 1 of 2 - Satellite Image Analysis Later This Week) Golden Pass: 4 Key Takeaways..........................................Page 2 EPC: Monthly Progress Evolution...................................... Page 3...
TPIC: Shuts Iowa/Juarez Facilities – Withdraws 2020 Guidance
We thought we'd pass along a snippet from our recent note on TPIC (4/23) - highlighting both its 2020 guidance withdraw, as well as the shutdown of its Iowa & Juarez facilities - which, while disclosed in subsequent filings, were not highlighted in the guidance...
Renewable Energy: The Next Generation
Initiating Coverage Of ENPH, TPIC, REGI, & ENS Executive Summary .......................................................Page 5 Industry Overviews........................................................Page 9 Near-Term...
W|EPC: AEP Capital Project Analysis – Q220
Digging Into AEP's Capital Project Backlog AEP Company Overview Page 2 Key Takeaways Page 3 ERCOT Overview ...
W|EPC: Sempra’s Costa Azul – Is ECA Different? A Deep Dive Into SRE’s Mighty Mouse
Sempra LNG’s Costa Azul – Analysis & Risks As Larger Projects Falter Overview Pages 1-3 ECA Phase 1 & 2 Structures Pages 3-4 Supply Dynamics...
Tankers: Floating Storage Scenario Analysis & Utilization Impact
Our 3-Stage Approach To Tankers For the Remainder Of 2020 Our 3-Stage Approach To The Remainder Of 2020 Pages 1-2 Floating Storage Scenario Analysis – Impact On Utilization Pages 2-3 Storage Arbitrage, Inventories, & Rate...
W|EPC: Force Majeure & The LNG Supply Chain: Scenarios For BH, Kiewit, & Venture Global
Reviewing Satellite Images Of Italian Fabrication Yards & Force Majeure Flow Charts • Supply Chain Overview Pages 1-2 • Satellite Images: BH’s Fabrication Yard In Avenza, Italy ...
W|EPC Utilities & Energy – Sempra Deep Dive – Oncor, March 2020
Sempra (SRE) Capital Project Analysis – Oncor March 2020. As part of our W|EPC Utility & Energy Project coverage, we’ve put together a deep dive into a number of large public utilities, including SRE, SO, D, AEP, CNP, ENB, EPD, ET, KMI, XOM, TOT, RDS:A, and...
Tankers Reset As OPEC War Changes Economics
Market Updates & Thoughts....................Pages 1-3 Tanker Trade Dynamics...........................Page 4 Fuel Spreads, Economics........................Page 5 Crude/Product/LPG Rate Changes............Pages 6-9 LNG Arb, Freight...
LNG Canada Update: Shell, Fluor, JGC, & Force Majeure
**March 18 Update........................................Page 2 Executive Summary.......................................Page 3 COVID-19 Impact..........................................Page 4 EPC Schedule Analysis...................................Page 5 Site Labor...
OPEC+ Fallout: Contagion Everywhere From Looming Price War…
***From Sunday 3/8*** For access information please email us at info@webberresearch.com Tankers Among Few Eventual Beneficiaries Impact On Tankers: Page 1, 3-5 The 2015 Tanker Comp,...
Noisy Neighbors: A Commonwealth LNG Deep Dive & Venture Global’s Engineering Update
Energy EPC: Venture Global's Engineering Update & A Detailed Look At Their Commonwealth LNG Note 1: As expected (and highlighted in our Commonwealth LNG Report below - initially published nearly two weeks ago), Venture Global has filed motion to intervene in...
Venture Global LNG: Costs Ramping At Calcasieu?
Headcount, Parking Data Suggest Material EPC Inflation For access information, please email us at info@webberresearch.com Construction Details: Pages 1-2 Parking & Headcount estimates ...
LNG’s Black Friday
LNG’s Black Friday: Endgame For TELL, Magnolia (LNG-ASX) Gets Taken Out For access please email us at info@webberresearch.com The Walls Close In Around TELL – Stock Down 72% This Week As Liquidity & Commercial Realities Finally Overlap. TELL has traded down 52%...
The Golar Clean Up Trade – Let’s Get Schwifty
Golar Q4 Earnings Preview - Reorg Pressure Ramps GLNG/GMLP Equity Thesis, SOTP Valuation: Pages 1-2, 6 Our Expected Golar Reorg Solution: Pages 2-4 GMLP: Risk around Eskimo/Jordan Contract? Pages 2, 7...
LNG Update: Coronavirus Force Majeure — Context, Data, and Exposure
Corona-Related Force Majeure: Highlights From Our Recent LNG Update Chinese LNG Contractual Exposure - SPA Breakdown By Counterparty Pages 2, 5-9 Historical Context - SARS, 6 Previous Global Health Emergencies ...
Webber R|A Barge Week- Part 2: The M&A Menu
Barge Week Continues at Webber R|A with our Barge M&A Menu, out yesterday. The Barge M&A Menu: Assessing 2020 Consolidation Options includes: • The Elephant In The Room – Inland Special Situations (Page 2-3) • High Profile Coastal Distress (Pages 4-5) •...
Contact us
For access and pricing information, please email us at info@webberresearch.com
- Webber Research & Advisory
150 E52nd St, Suite 14001
New York, NY, 10022 - (646) 993-0693
- info@webberresearch.com