Phase 2 · Energy
Energy ecosystem
Every sector has a Leader, Pioneer, Challenger, Median and Failure. The Median shows what normal looks like; the Failure teaches as much as the Leader.
LeaderXOM
Capital discipline + Permian scale. Standard for new-era energy mega-caps.
PioneerCVX
Founded 1879. Survived every oil cycle since Standard Oil.
ChallengerVST
Independent power producer riding AI-data-center load growth. Newest large-cap energy name.
MedianOXY
Mid-major E&P. Cyclical, leveraged to oil price, hedge-funded activist ownership.
FailurePARA
Bankruptcy 2020. Shale boom-bust. The discipline-vs-leverage lesson.
Sector stats
- Avg 20y CAGR7.2%
- Avg survival24 years
- Median multiple9.0× P/E
- Avg drawdown-56%