LOE

U.S. Energy Corp. Reports Financial and Operating Results for First Quarter 2024

Retrieved on: 
木曜日, 5月 9, 2024
LOE, Iron ore

Sales from oil production represented 88% of total revenue during the quarter, an increase from 86% in the first quarter of 2023.

Key Points: 
  • Sales from oil production represented 88% of total revenue during the quarter, an increase from 86% in the first quarter of 2023.
  • Lease operating expense (“LOE”) for the first quarter of 2024 was approximately $3.2 million, or $29.02 per Boe, as compared to $4.4 million, or $28.39, in the first quarter of 2023.
  • Cash general and administrative (“G&A”) expenses were approximately $2.0 million during the first quarter of 2024, a reduction from the $2.1 million reported during the first quarter of 2023.
  • Adjusted EBITDA was $0.2 million in the first quarter of 2024, compared to adjusted EBITDA of $1.2 million in the first quarter of 2023.

Vital Energy Reports First-Quarter 2024 Financial and Operating Results

Retrieved on: 
水曜日, 5月 8, 2024
LOE, Vitalism, Investment, Delaware Basin, Vital, Webcast, TIL, MBO, Consolidated, OK, LTIP, GAAP

TULSA, OK, May 08, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported first-quarter 2024 financial and operating results.

Key Points: 
  • TULSA, OK, May 08, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported first-quarter 2024 financial and operating results.
  • "We continued our trend of delivering strong financial and operational results while successfully integrating recent acquisitions," stated Jason Pigott, President and Chief Executive Officer.
  • Results in the Southern Delaware position we built last year are far exceeding industry results.
  • During the second quarter of 2024, Vital Energy plans to operate four drilling rigs and two completions crews, and TIL 24 wells.

Evolution Petroleum Reports Third Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Fourth Quarter

Retrieved on: 
火曜日, 5月 7, 2024
LOE, NGL, International, Central Time, Natural gas, Interest, Hand, Webcast, BOPD, Public expenditure, Senior, Henry Hub, DUC, Jonah Field, Tax, MCF, Line of credit, SCOOP, Phase 5, CO2, Evolution, GAAP, G&A, BBL

Evolution reported $23.0 million in total revenue for the current quarter, a 10% increase from the prior quarter.

Key Points: 
  • Evolution reported $23.0 million in total revenue for the current quarter, a 10% increase from the prior quarter.
  • On a per unit basis, total LOE decreased 10% from $21.31 per BOE in the prior quarter to $19.24 in the current quarter.
  • Evolution expects to receive the remaining net cash flows at the final post-closing settlement occurring during the fourth quarter of fiscal 2024.
  • As previously announced, Evolution Petroleum will host a conference call on May 8, 2024, at 10:00 a.m. Central Time to review its third quarter fiscal 2024 financial and operating results.

Ring Energy Announces First Quarter 2024 Results, Provides Second Quarter 2024 Outlook and Reiterates Full Year 2024 Guidance

Retrieved on: 
月曜日, 5月 6, 2024
Valorem, LOE, Table, NGL, Transport, Atlas, Depreciation, GTP, Natural gas, Balance sheet, Capital expenditure, NYMEX, Public expenditure, GAAP, G&A, Video game

THE WOODLANDS, Texas, May 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for the first quarter of 2024. Also, the Company provided an outlook for the second quarter of 2024 and reiterated its operational and financial guidance for the full year of 2024.

Key Points: 
  • Adjusted EBITDA was $62.0 million for the first quarter of 2024 compared to $65.4 million for the fourth quarter of 2023 and $58.6 million for the first quarter of 2023 — a 6% year-over-year increase.
  • Adjusted Free Cash Flow for the first quarter of 2024 was $15.6 million versus $16.3 million for the fourth quarter of 2023 and $10.5 million for the first quarter of 2023.
  • Included was capital spending of $36.3 million in the first quarter of 2024 versus $38.8 million in the fourth quarter of 2023 and $38.9 million in the first quarter of 2023.
  • Adjusted Cash Flow from Operations was $51.9 million for the first quarter of 2024 compared to $55.1 million for the fourth quarter of 2023, and $49.4 million for the first quarter of 2023.

Magnolia Oil & Gas Corporation Announces First Quarter 2024 Results

Retrieved on: 
火曜日, 5月 7, 2024
Oil, Gas, Energy, LOE, Total, Common, D&C, Austin, Texas, Class, Webcast, Eagle Ford, Dallas, Public expenditure, Knowledge, Interest, Common stock, Acquisition, Share repurchase, Bank statement, GAAP, Lunar phase, Growth

First quarter D&C capital represented approximately 52% of adjusted EBITDAX and was 15% lower than the prior-year’s first quarter.

Key Points: 
  • First quarter D&C capital represented approximately 52% of adjusted EBITDAX and was 15% lower than the prior-year’s first quarter.
  • Total production in the first quarter of 2024 grew 7% on a year-over-year basis to 84.8 thousand barrels of oil equivalent per day (“Mboe/d”) including 37.5 thousand barrels per day of oil.
  • On April 30, 2024, Magnolia acquired oil and gas properties in Giddings from a private operator encompassing roughly 27,000 net acres for approximately $125 million.
  • Includes $2.9 million of share repurchases incurred during the first quarter, but settled during the second quarter of 2024, and excludes $1.7 million of share repurchases incurred during the fourth quarter of 2023, but settled during the first quarter of 2024.

Permian Resources Announces Strong First Quarter 2024 Results and Increases Full Year Guidance

Retrieved on: 
火曜日, 5月 7, 2024
Energy, Other Energy, Oil, Gas, Permian, LOE, Debt-to-GDP ratio, Appendix, Acceleration, D&C, Natural gas, GP, Hand, Security (finance), Conference, Acquisition, Process control block, Bank statement, Interest, Cryptocurrency

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its first quarter 2024 financial and operational results and revised 2024 guidance.

Key Points: 
  • Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its first quarter 2024 financial and operational results and revised 2024 guidance.
  • “Outstanding well results and higher operational efficiencies across both legacy Permian Resources and Earthstone assets drove robust production during the quarter.
  • “Our strong first quarter production results were primarily driven by better than expected well performance, strong production runtimes and acceleration from continued operational efficiencies,” said Will Hickey, Co-CEO.
  • Permian Resources will host an investor conference call on Wednesday, May 8, 2024 at 9:00 a.m. Central (10:00 a.m. Eastern) to discuss first quarter 2024 operating and financial results.

Empire Petroleum Announces Results for Fourth Quarter and Full Year 2023

Retrieved on: 
月曜日, 4月 1, 2024
Oil, Gas, Energy, Permian, Natural gas, Growth, G&A, AGU, LOE, NGL, Atlas, DD, Anticipation, Consultant, Economics

Empire Petroleum (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana today announced operational and financial results for the fourth quarter and full year of 2023, including year-end 2023 proved reserves.

Key Points: 
  • Empire Petroleum (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana today announced operational and financial results for the fourth quarter and full year of 2023, including year-end 2023 proved reserves.
  • Mike Morrisett, President and Chief Executive Officer of Empire, commented, “We are committed to executing on our targeted plan for developing our unique asset base.
  • We see significant potential given our top-notch group of technical professionals led by the oversight of Phil Mulacek.
  • Bottom line, we are looking at 2024 to be a real turning point for Empire.

W&T Offshore Announces Fourth Quarter and Full Year 2023 Results Including Year-End 2023 Proved Reserves, Provides Guidance for 2024, and Declares Dividend for First Quarter of 2024

Retrieved on: 
火曜日, 3月 5, 2024
Acquisition, Production, Senior, Depreciation, Holy Grail, Balance sheet, Joint venture, ARO, Free cash flow, Natural gas, Cost, Term loan, Debt, British thermal unit, Capital expenditure, Table, Transport, NGL, TTM, Atlas, GAAP, Comparable, Bankruptcy, GOM, LOE, Policy, Tax, Public expenditure, Investment, Hand, G&A, Oil

Detailed guidance for the first quarter of 2024 and full year 2024 was also provided, and W&T announced its dividend for the first quarter of 2024.

Key Points: 
  • Detailed guidance for the first quarter of 2024 and full year 2024 was also provided, and W&T announced its dividend for the first quarter of 2024.
  • We remain committed to enhancing shareholder value and returning value to our shareholders through the quarterly dividend announced in November 2023.
  • The W&T year-end 2023 proved reserves do not include the 18.7 MMBoe of proved reserves acquired in early January 2024 for $72 million.
  • W&T’s reserve life ratio at year-end 2023, based on year-end 2023 proved reserves and 2023 production, was 9.7 years.

Letter to Stockholders Issued by Diamondback Energy, Inc.

Retrieved on: 
火曜日, 2月 20, 2024
Permian, Acquisition, Free cash flow, OPEC, Growth, CFPS, NGL, Sale, West Texas Intermediate, Viperidae, Letter, FCF, IPO, Firebird, Deep Blue, DD, WTI, LOE, Security (finance), EPS, Endeavour, G&A, MBO, GRP, Oil

Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter.

Key Points: 
  • Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter.
  • The fourth quarter of 2023 rounded out a great year for Diamondback Energy and our stockholders.
  • Diamondback is focused on per share growth, and we have now grown oil production per share 14x since our 2012 IPO.
  • Therefore, Diamondback is positioned to maintain our production, grow Free Cash Flow and return that Free Cash Flow to our stockholders.

Permian Resources Announces Strong Fourth Quarter 2023 Results and Provides Highly Capital Efficient Full Year 2024 Plan

Retrieved on: 
火曜日, 2月 27, 2024
Energy, Other Energy, Oil, Gas, Permian, Acquisition, Weather, GP, Annual report, Interest, Natural gas, Growth, D&C, Foot, Resource, Conference, PR, LOE, Public expenditure, Security (finance), Hand, G&A, Appendix, Bank statement

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its fourth quarter and full year 2023 financial and operational results and 2024 operational plans.

Key Points: 
  • Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its fourth quarter and full year 2023 financial and operational results and 2024 operational plans.
  • “During the fourth quarter, Permian Resources reported another strong quarter of production outperformance and operational improvements in the midst of closing the Earthstone acquisition.
  • With a focus on capital returns, Permian Resources’ 2024 operational budget delivers a highly capital efficient plan that maximizes free cash flow and value for its investors.
  • Permian Resources will host an investor conference call on Wednesday, February 28, 2024 at 8:00 a.m. Central (9:00 a.m. Eastern) to discuss fourth quarter and full year 2023 operating and financial results.