In the 2010s, Kurt Wulff is in his sixth decade of analyzing opportunities in the oil and gas industry.  The founder of McDep LLC recommends investment ideas among oil and gas stocks globally, from large integrated oil companies to small cap and income stocks.  McDep LLC’s clients are institutional, corporate and individual investors.  Posted 3-5 weeks after being sent to clients in real-time, historical research since 2000 is publicly accessible on  

During the 2000s, the McDep Buy List at the end of 2002 gained 40% a year to the end of 2007.  The declining market of 2008 took a toll by reducing performance to 29% a year for the five years ended September 5, 2008 when Mr. Wulff suspended all buy recommendations.  Also in a five-year program administered by Independent Consultants, McDep LLC was selected as an Independent Research Provider to six Investment Banks who provided their clients with McDep opinions on oil and gas stocks. 

For most of the 1990s, the McDep analyst was a pioneer in earning payment for his work through broker-dealers who provide third party independent research in exchange for “soft dollars”.  McDep Associates Inc., predecessor of McDep LLC, had been formed for that purpose in 1988.  During the late 1990s, Mr. Wulff analyzed Canadian oil and gas stocks for Smith Barney and also was the director of research for a consulting firm before returning to McDep.

Kurt Wulff made his initial investment reputation as an oil analyst while at Donaldson, Lufkin & Jenrette where his recommendations from 1973 to 1986 gained a median 28% a year.  During the takeover battles of the 1980s, he identified megadeals in advance for investors.  He advised Gordon Getty, Carl Icahn and Boone Pickens.  He testified before Congress on energy and takeover issues.  As a DLJ analyst, Kurt Wulff was named to the All-America Research Team 25 times in oil, exploration and natural gas.

In the 1960s, Kurt Wulff started his career as an engineer with Chevron in San Francisco.  He later joined a Cambridge, Massachusetts consultant where he advised international corporations as well as the governments of Alaska, Algeria, and the U.S.  Born in Wisconsin, he earned degrees of Bachelor of Science in Chemical Engineering from the University of Wisconsin and Master in Business Administration from Harvard University.

Mr. Wulff wrote with Bill Bruns, How to Profit from the Coming Oil Crisis, a book published by Bertelsmann three years before Saddam Hussein’s invasion of Kuwait.  Featured in Barron’s, Institutional Investor, Business Week and Oil and Gas Investor, he has been a guest on Bloomberg, Nightly Business Report, CNBC, CNN, and Wall Street Week with Louis Rukeyser.  He is a past president of the National Association of Petroleum Investment Analysts.  A Chartered Financial Analyst, Mr. Wulff belongs to the CFA Institute and the Boston Security Analysts Society.  

As an activist, he sponsored shareholder resolutions credited with bringing confidential voting to the proxy process at major oil companies, among other reforms.  Testifying in Delaware Court on behalf of retirement investors, Kurt Wulff helped beneficiaries of oil company employee pension plan win a judgment that was the largest of its kind up to that time.  For the San Juan Basin Royalty Trust, his nomination of the successor trustee was approved by special vote of all unitholders.

Disclaimer and Disclosure
Analyses are prepared from sources and data believed to be reliable, but no representation is made as to their accuracy or completeness. Neither he nor his spouse trade a subject stock within a week before or after a change in rating.