Gas

Ranger Energy Services, Inc. Announces Q4 2023 and Full Year 2023 Results

Retrieved on: 
Monday, March 4, 2024

Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for the fourth quarter and full year ended December 31, 2023.
  • Stuart Bodden, Ranger’s Chief Executive Officer, commented, “We are pleased to report the highest annual earnings in Ranger’s history in 2023.
  • Ranger also reported record high EBITDA, Free Cash Flow and Earnings per Share despite weaker than anticipated customer activity.
  • Ranger is debt free with over $85 million of liquidity and confident in our ability to navigate an uncertain environment.

USA Compression Partners, LP Announces Pricing of $1.0 Billion Offering of Senior Notes

Retrieved on: 
Monday, March 4, 2024

USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today announced the pricing of a private placement to eligible purchasers by the Partnership and its wholly-owned subsidiary, USA Compression Finance Corp., of $1.0 billion in aggregate principal amount of 7.125% senior unsecured notes due 2029 at par.

Key Points: 
  • USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today announced the pricing of a private placement to eligible purchasers by the Partnership and its wholly-owned subsidiary, USA Compression Finance Corp., of $1.0 billion in aggregate principal amount of 7.125% senior unsecured notes due 2029 at par.
  • The offering is expected to close on March 18, 2024, subject to customary closing conditions.
  • The Partnership estimates that it will receive net proceeds of approximately $984.4 million, after deducting the initial purchasers’ discounts and estimated offering expenses.
  • The notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any other jurisdiction.

Permian Resources Corporation Announces Pricing of Secondary Public Offering of Class A Common Stock

Retrieved on: 
Monday, March 4, 2024

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the pricing of an underwritten public offering of an aggregate 48,500,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), at a price to the public of $15.76 per share, by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments and Riverstone Investment Group LLC and certain members of the Company’s management (the “Selling Stockholders”).

Key Points: 
  • Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the pricing of an underwritten public offering of an aggregate 48,500,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), at a price to the public of $15.76 per share, by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments and Riverstone Investment Group LLC and certain members of the Company’s management (the “Selling Stockholders”).
  • Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.
  • The offering of Class A common stock is not conditioned upon the completion of the Concurrent OpCo Unit Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon the completion of the offering.
  • Goldman Sachs & Co. LLC is serving as the underwriter for the offering.

Apex Clean Energy Awards Latest Funds, Totaling $710,000, in Conservation Grant Program

Retrieved on: 
Monday, March 4, 2024

Apex Clean Energy today announced the 2023 recipients of $710,000 in grant funding through its Apex Conservation Grant Program , which supports conservation initiatives near the company’s commercialized renewable energy projects.

Key Points: 
  • Apex Clean Energy today announced the 2023 recipients of $710,000 in grant funding through its Apex Conservation Grant Program , which supports conservation initiatives near the company’s commercialized renewable energy projects.
  • Since its founding in 2021, the program has distributed $2.4 million in grant funds—with another $6.26 million secured in matching donations—to preserve and restore nearly 3,000 acres near project areas.
  • An employee-initiated program, the Apex Conservation Grant Program is the first of its kind within the clean energy industry and expands the ecological benefits of Apex’s renewable energy projects by contributing a sum of money proportional to the size of each project (approximately $1,000/MW) to support local or regional conservation efforts.
  • “While our mission to accelerate the shift to a clean energy future has enormous positive ramifications for our nation’s environment and economy, the Apex Conservation Grant Program came from us looking at our work and asking, ‘How can we do more?’” said Ken Young, CEO of Apex.

NGL Energy Partners LP Announces Status of Investor Tax Packages

Retrieved on: 
Monday, March 4, 2024

NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today provided an update on the expected availability of the partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders.

Key Points: 
  • NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today provided an update on the expected availability of the partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders.
  • Historically, NGL’s Investor Tax Packages have been available by early March for the preceding tax year; however, the timing of the availability of NGL’s 2023 Investor Tax Packages is dependent upon actions of the U.S. Congress and the Biden administration with regard to the passage, or not, of the Tax Relief for American Families and Workers Act of 2024, (referred to as “H.R.
  • This legislation includes changes in tax law which would be applied retroactively to the 2023 tax year.
  • 7024, NGL will provide an update on the availability of the 2023 Investor Tax Packages.

Elda River Capital Management Completes Successful Spin-Out and Launch of Independent Real Assets Investment Firm

Retrieved on: 
Friday, March 1, 2024

Elda River Capital Management, LLC (“Elda River”) announced today its launch as an independent real assets-focused investment firm.

Key Points: 
  • Elda River Capital Management, LLC (“Elda River”) announced today its launch as an independent real assets-focused investment firm.
  • Elda River launched with approximately $1.5 billion in assets under management in a spin-out from Magnetar and has offices in Houston, Texas; Evanston, Illinois; and London, United Kingdom.
  • Elda River is led by co-Managing Partners Eric Scheyer and Adam Daley, former partners at Magnetar and co-heads of Magnetar’s Energy & Infrastructure business.
  • “After nearly two decades at Magnetar, our team is excited to launch Elda River and we are grateful for the strong support of our investors,” said Eric Scheyer, Co-Founder and Managing Partner of Elda River.

New Fortress Energy Places Terminal Gas Sul LNG Terminal in Santa Catarina, Brazil into Operation

Retrieved on: 
Friday, March 1, 2024

New Fortress Energy, Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today announced that its Terminal Gas Sul (“TGS”) LNG terminal located in Santa Catarina, Brazil, is now operational with the Energos Winter Floating Storage Regasification Unit (FSRU) on-site.

Key Points: 
  • New Fortress Energy, Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today announced that its Terminal Gas Sul (“TGS”) LNG terminal located in Santa Catarina, Brazil, is now operational with the Energos Winter Floating Storage Regasification Unit (FSRU) on-site.
  • TGS is an offshore LNG import terminal with a capacity of approximately 6 MTPA (300 TBtu) and maximum send out of 500 mmscf/day.
  • The terminal includes the Winter FSRU and a 33-kilometer, 20-inch pipeline, which connects the facility to the existing inland Transportadora Brasileira Gasoduto Bolívia-Brasil (“TBG”) pipeline.
  • The TGS terminal is essential infrastructure and will play a vital role in meeting the region's power and gas requirements.

NuStar Energy L.P.’s Preferred Unit 2023 Schedule K-1 Tax Packages Now Available

Retrieved on: 
Friday, March 1, 2024

NuStar Energy L.P. (NYSE: NS) today announced that the 2023 tax packages for preferred units, which include the Schedule K-1’s for Series A, Series B and Series C preferred units, are available online at www.nustarenergy.com in the Investors section of the website.

Key Points: 
  • NuStar Energy L.P. (NYSE: NS) today announced that the 2023 tax packages for preferred units, which include the Schedule K-1’s for Series A, Series B and Series C preferred units, are available online at www.nustarenergy.com in the Investors section of the website.
  • The partnership expects to begin mailing the 2023 tax packages on March 6, 2024.
  • NuStar Energy L.P., through its subsidiaries (collectively, “NuStar” or the “Partnership”), is an independent liquids terminal and pipeline operator.
  • For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/ .

Overseas Shipholding Group to Announce Fourth Quarter and Full Year 2023 Results on March 11, 2024

Retrieved on: 
Friday, March 1, 2024

Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that it plans to release its fourth quarter results of fiscal year 2023 before the market opens on Monday, March 11, 2024.

Key Points: 
  • Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that it plans to release its fourth quarter results of fiscal year 2023 before the market opens on Monday, March 11, 2024.
  • The Company will host a conference call and webcast to discuss its fourth quarter and full year 2023 results at 9:30 a.m.
  • ET on Monday, March 11, 2024.
  • A replay of the webcast will also be available on the website after the completion of the call.

NOG CEO Nick O’Grady to Present at the Raymond James 45th Annual Institutional Investors Conference on March 5, 2024

Retrieved on: 
Friday, March 1, 2024

Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”), a leading Non-Operating E&P company, today announced that Nick O’Grady, Chief Executive Officer will participate in a fireside chat at the Raymond James 45th Annual Institutional Investors conference on March 5, 2024, at 9:50 a.m.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”), a leading Non-Operating E&P company, today announced that Nick O’Grady, Chief Executive Officer will participate in a fireside chat at the Raymond James 45th Annual Institutional Investors conference on March 5, 2024, at 9:50 a.m.
  • ET.
  • A live webcast of the event can be accessed from the Investor Relations, Events and Presentations tab on our website or through the following link: https://wsw.com/webcast/rj129/nog/1473120 .
  • The webcast will be archived on our website for 90 days.