Midstream

Westwood Launches First Exchange-Traded Fund: Westwood Salient Enhanced Midstream Income ETF (MDST)

Retrieved on: 
Tuesday, April 9, 2024
WHG, MDST, Midstream, Energy, Natural gas, MLP, ETF, Security (finance)

DALLAS, April 09, 2024 (GLOBE NEWSWIRE) -- Westwood Holdings Group (WHG), a publicly-traded investment management boutique and wealth management firm, today launched the Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST).

Key Points: 
  • DALLAS, April 09, 2024 (GLOBE NEWSWIRE) -- Westwood Holdings Group (WHG), a publicly-traded investment management boutique and wealth management firm, today launched the Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST).
  • The fund is the first Westwood Exchange-Traded Fund (ETF) .
  • The ETF combines a high conviction, actively managed, energy-focused equity portfolio with an options overlay designed to produce enhanced income distributions for investors.
  • Westwood is not aware of comparable ETFs in the Midstream sector.

Phillips 66 Delivers Strong 4Q 2023 Results, Advances Strategic Priorities

Retrieved on: 
Wednesday, January 31, 2024
Professional Services, Chemicals, Plastics, Oil, Gas, Manufacturing, Energy, Finance, BPD, Transport, QatarEnergy, Public expenditure, Carbon, Investment, DCP Midstream Partners, Phillips 66, Midstream, Webcast

Phillips 66 generated $2.2 billion in cash from operations in the fourth quarter of 2023.

Key Points: 
  • Phillips 66 generated $2.2 billion in cash from operations in the fourth quarter of 2023.
  • During the fourth quarter, Phillips 66 funded $634 million of capital expenditures and investments, $1.2 billion of share repurchases and $457 million in dividends.
  • Phillips 66 is executing its strategic priorities to increase mid-cycle adjusted EBITDA by $4 billion to $14 billion by 2025 and grow shareholder distributions.
  • Members of Phillips 66 executive management will host a webcast at noon ET to provide an update on the company’s strategic initiatives and discuss the company’s fourth-quarter performance.

Hess Reports Estimated Results for the Fourth Quarter of 2023

Retrieved on: 
Wednesday, January 31, 2024
Professional Services, Other Natural Resources, Oil, Gas, Energy, Finance, Natural Resources, Class, NGL, Interest, Hess Corporation, Prosperity, Global Infrastructure Partners, Corporation, JDA, Barrel, Acquisition, Midstream, Comparability, Uaru, E&P

E&P net income was $512 million in the fourth quarter of 2023, compared with $641 million in the fourth quarter of 2022.

Key Points: 
  • E&P net income was $512 million in the fourth quarter of 2023, compared with $641 million in the fourth quarter of 2022.
  • On an adjusted basis, E&P fourth quarter 2023 net income was $531 million, compared with $565 million in the prior-year quarter.
  • After-tax expense for Corporate, Interest and Other was $162 million in the fourth quarter of 2023, compared with $208 million in the fourth quarter of 2022.
  • Net cash provided by operating activities was $1,344 million in the fourth quarter of 2023, compared with $1,252 million in the fourth quarter of 2022.

Humble Midstream II Receives Capital Commitment From Quantum Capital Group

Retrieved on: 
Tuesday, January 30, 2024
Other Energy, Oil, Gas, Sustainability, Environment, Finance, Alternative Energy, Energy, Professional Services, Partnership, Growth, TC Energy, Partner, Entrepreneurship, Midstream, Progress Energy, Humble, Renewable energy

Humble Midstream II Partners LLC (“Humble II”) announced today that it has formed a partnership with Quantum Capital Group (“Quantum”).

Key Points: 
  • Humble Midstream II Partners LLC (“Humble II”) announced today that it has formed a partnership with Quantum Capital Group (“Quantum”).
  • Based in Denver, Colorado, Humble II is pursuing the development and operation of energy infrastructure projects across North America.
  • “With this commitment from Quantum, we are able to focus on building infrastructure solutions that support the North American energy complex,” said Humble II Chief Executive Officer Steven Huckaby.
  • “Our capital commitment to Humble II demonstrates our confidence in their leadership, organization, approach, and track record, and we look forward to being a part of their growth and success.”
    Additionally, Humble II is excited to announce that industry veteran Michael R. Culbert has joined the company’s Board of Directors.

RGC Resources, Inc. Reports 2023 Earnings

Retrieved on: 
Monday, November 20, 2023
Midstream, Mountain Valley Pipeline, MVP, Growth, GAAP

ROANOKE, Va., Nov. 20, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $11,299,282, or $1.14 per share, for the fiscal year ended September 30, 2023, compared to a net loss of $31,732,602, or $3.48 per share, for the fiscal year ended September 30, 2022.

Key Points: 
  • ROANOKE, Va., Nov. 20, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $11,299,282, or $1.14 per share, for the fiscal year ended September 30, 2023, compared to a net loss of $31,732,602, or $3.48 per share, for the fiscal year ended September 30, 2022.
  • Roanoke Gas continued executing its strategy of utility infrastructure investment to increase system reliability and drive customer growth and earnings.
  • The significant increase in 2023 earnings reflected non-cash MVP income resulting from the resumption of construction in June of 2023.
  • RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

UGI Reports Fiscal 2023 Results

Retrieved on: 
Thursday, November 16, 2023
Other Energy, Utilities, Oil, Gas, Other Manufacturing, Alternative Energy, Energy, Engineering, Manufacturing, Sale, Webcast, Interest, NYSE, Public utility, UGI Corporation, Pennant, Weather, Internet, EPS, Midstream, LPG, GAAP, Natural gas, RNG, John Allen Farm Massacre, UGI, 139th, Property management, Renewable energy

UGI Corporation (NYSE: UGI) reported financial results for the fiscal year ended September 30, 2023 and provided guidance for fiscal year 2024.

Key Points: 
  • UGI Corporation (NYSE: UGI) reported financial results for the fiscal year ended September 30, 2023 and provided guidance for fiscal year 2024.
  • In October 2023, the Company also completed the sale of substantially all of the energy marketing portfolio in France.
  • UGI provides an adjusted EPS guidance range of $2.70 - $3.002 per diluted share for the fiscal year ending September 30, 2024.
  • UGI Corporation will hold a live Internet Audio Webcast of its conference call to discuss fiscal 2023 earnings and other current activities at 9:00 AM ET on Friday, November 17, 2023.

Equinor third quarter 2023

Retrieved on: 
Friday, October 27, 2023
Dogger Bank Wind Farm, New York Public Service Commission, EQNR, MMP, NYSE, Midstream, Tax, Dogger Bank, Government, Buzzard, Use, Public expenditure, Farm, Troll, Carbon, Wind, Norwegian State Educational Loan Fund, Maintenance, Senior, Bayou Bend Collection and Gardens, NCS, Kilowatt-hour, USD, Investment, Vito, New York Stock Exchange, Marketing, Communication, Rosebank, Renewable energy, Nyhamna, Speciality chemicals, Holding company, Management, Natural gas, Petroleum, Pharmaceutical industry, Bank, Equinor, Eirin, LNG

Power production from renewable energy sources was 373 GWh in the quarter, up from 294 GWh in the same quarter last year.

Key Points: 
  • Power production from renewable energy sources was 373 GWh in the quarter, up from 294 GWh in the same quarter last year.
  • Equinor maintains a strong financial position with adjusted net debt to capital employed ratio* at negative 22.9% by the end of the third quarter, from negative 35.1% at the end of the second quarter of 2023.
  • The Equinor shares will trade ex-dividend on Oslo Børs and New York Stock Exchange from and including 14 February 2023.
  • The third tranche of the share buy-back programme for 2023 was completed on 20 October 2023 with a total value of up to USD 1.67 billion.

Charles Griffie Appointed as Range Director

Retrieved on: 
Friday, October 20, 2023
Leadership development, Harvard Business School, LP, University of Colorado Denver Business School, NYSE, Midstream, ESG, NGL, MBA, Senior, RRC, Range, University, Anadarko Petroleum, Natural gas, Management, Engineering

FORT WORTH, Texas, Oct. 20, 2023 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced the appointment of Charles G. Griffie to its Board of Directors.

Key Points: 
  • FORT WORTH, Texas, Oct. 20, 2023 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced the appointment of Charles G. Griffie to its Board of Directors.
  • Range Chairman, Greg Maxwell, stated, “We are excited to announce the addition of Charles Griffie to the Range board as part of our ongoing refreshment process.
  • Mr. Griffie previously served as the Senior Vice President of Engineering and Operations at Western Midstream Partners, LP.
  • Prior to that, Mr. Griffie had an extensive career with Anadarko Petroleum Corporation where he worked in various roles of responsibility.

Radix Delivers on Operational Excellence, Turning Data into Profitability

Retrieved on: 
Wednesday, October 18, 2023
Intelligence, Sustainability, Environment, health and safety, Midstream, Digitalization, Moscone Center, Energy, Radix, Senior, EHS, Environment, Clemson Energy Sustainability, Partnership, Caterpillar, Gas, AVEVA, Fortune 500, Asset management, Risk management, Safety, Health

The accelerated partnership focuses on taking the strategic assets of Midstream O&G operating data, leveraging edge-to-cloud scalabilities, and producing better data-driven decisions.

Key Points: 
  • The accelerated partnership focuses on taking the strategic assets of Midstream O&G operating data, leveraging edge-to-cloud scalabilities, and producing better data-driven decisions.
  • In addition, the team will present customer success cases with a deep dive on enterprise operational data infrastructures and analytics utilizing AVEVA’s entire portfolio.
  • Natalia Klafke, Global Head of Energy & Sustainability, states, “More than engineers, Radix collaborates with the best in class to revolutionize data for the industries we serve into profitability for our customers.
  • They see huge transformational business value through our extensive suite of optimization capabilities - turning insightful data into increased profitability while helping them reach their sustainability goals.”
    The Radix team presence will be a highlight of the event, allowing customers to engage and discover new pathways to learn more about how Radix is converting insightful, raw data into actionable operational business intelligence.

Hess Reports Estimated Results for the Third Quarter of 2023

Retrieved on: 
Wednesday, October 25, 2023
Finance, Oil, Gas, Energy, Professional Services, Utilities, Destiny, Water, Midstream, Global Infrastructure Partners, Barrel, NGL, Hess Corporation, Corporation, Hess, GAAP, Maintenance, Interest, JDA, Uaru, Class, E&P, Video game, Natural gas, Petroleum, Gulf of Mexico, Whiptail

During the third quarter of 2023, the Corporation drilled 28 wells, completed 41 wells, and brought 26 new wells online.

Key Points: 
  • During the third quarter of 2023, the Corporation drilled 28 wells, completed 41 wells, and brought 26 new wells online.
  • In the third quarter of 2023, we sold nine cargos of crude oil from Guyana, compared with eight cargos in the prior-year quarter.
  • During the third quarter of 2023, a mechanical issue on the Liza Destiny reduced production during the quarter.
  • Midstream capital expenditures were $65 million in the third quarter of 2023 and $60 million in the prior-year quarter.