Permian

ROTH to Host 36th Annual Conference March 17-19 in Dana Point, California

Retrieved on: 
Monday, March 11, 2024

NEWPORT BEACH, Calif., March 11, 2024 (GLOBE NEWSWIRE) -- via IBN – Roth Capital Partners, LLC ("ROTH"), www.roth.com , will host its 36th Annual Conference on March 17-19, 2024, at The Ritz Carlton, Laguna Niguel, located in Dana Point, CA.

Key Points: 
  • NEWPORT BEACH, Calif., March 11, 2024 (GLOBE NEWSWIRE) -- via IBN – Roth Capital Partners, LLC ("ROTH"), www.roth.com , will host its 36th Annual Conference on March 17-19, 2024, at The Ritz Carlton, Laguna Niguel, located in Dana Point, CA.
  • The annual ROTH Conference provides an exceptional platform for institutional investors to connect with executive management from an array of public and private growth companies.
  • We are delighted to anticipate an even more diverse range of attendees for our 36th Annual Conference," remarked Byron Roth, Executive Chairman of ROTH.
  • Sagar Sheth, CEO of ROTH, remarked, "The annual ROTH Conference is a cornerstone event, and attendees are benefiting even more from the combined expertise of MKM’s integration.

Evolution Petroleum to Participate in Water Tower Research Fireside Chat and Provides Update on SCOOP/STACK and Chaveroo Operations

Retrieved on: 
Thursday, March 7, 2024

HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") announced today that the Company is scheduled to participate in a fireside chat with Water Tower Research on March 20, 2024, at 1:00 PM Central Time.

Key Points: 
  • HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") announced today that the Company is scheduled to participate in a fireside chat with Water Tower Research on March 20, 2024, at 1:00 PM Central Time.
  • Additionally, Evolution plans to participate for its full 50% working interest in the second development block, which consists of 6 horizontal well locations.
  • The Company fully expects to systematically participate in future development blocks, holding in aggregate over 70 additional horizontal well locations.
  • Future acreage costs are fixed at $36,000 per additional net horizontal well, spaced at approximately 160 gross acres per well.

NCS Multistage Holdings, Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, March 7, 2024

HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (Nasdaq: NCSM) (the “Company,” “NCS,” “we” or “us”), a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies, today announced its results for the quarter and year ended December 31, 2023.

Key Points: 
  • Total revenues were $35.2 million for the quarter ended December 31, 2023, a decrease of 12% compared to the fourth quarter of 2022.
  • Gross profit was $12.3 million, or a gross margin of 35%, for the fourth quarter of 2023, compared to $15.6 million, or 39%, for the fourth quarter of 2022.
  • Other income was $0.4 million for the fourth quarter of 2023 as compared to $1.4 million for the fourth quarter of 2022.
  • Consequently, we reversed our previously recorded litigation provision of $40.8 million during the fourth quarter of 2023.

HighPeak Energy, Inc. Announces Fourth Quarter and Yearend 2023 Financial and Operating Results and Provides 2024 Guidance

Retrieved on: 
Wednesday, March 6, 2024

FORT WORTH, Texas, March 06, 2024 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter and the year ended December 31, 2023.

Key Points: 
  • FORT WORTH, Texas, March 06, 2024 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter and the year ended December 31, 2023.
  • In addition, HighPeak provided its 2024 guidance and capital budget, as approved by its Board of Directors.
  • The Company surpassed the milestone of $1 billion in revenues in 2023 and generated free cash flow (a non-GAAP financial measure defined and reconciled below) of $33.7 million in the fourth quarter.
  • HighPeak Chairman and CEO, Jack Hightower, said, “2023 was a transformational year for HighPeak and we are continuing to carry positive momentum into 2024.

VoltaGrid Secures Long-Term Capital Via a Combination of $550 Million Term Loan and $210 Million of Equity

Retrieved on: 
Monday, March 4, 2024

In conjunction with the Term Loan Facility, the Company has entered into a revised senior secured revolving credit facility (the “Credit Facility”) that provides immediate access to $100 million and up to $150 million under certain conditions.

Key Points: 
  • In conjunction with the Term Loan Facility, the Company has entered into a revised senior secured revolving credit facility (the “Credit Facility”) that provides immediate access to $100 million and up to $150 million under certain conditions.
  • The Credit Facility includes support from BMO Capital Markets, The Toronto-Dominion Bank, National Bank of Canada, Scotiabank and Cadence Bank.
  • Lastly, VoltaGrid is pleased to announce the closing of its follow-on equity raise of $210 million, which closed in the third quarter of 2023 and included investments from Longbow Capital Inc. (“Longbow”), CPP Investments and other strategic equity investors.
  • BMO Capital Markets Corp. and National Bank Financial Markets acted as Co-Lead Arrangers and Bookrunners and Bank of Montreal as Administrative Agent for the Credit Facility.

Freehold Royalties Announces Fourth Quarter and Full Year 2023 Results, Reserves and Guidance for 2024

Retrieved on: 
Wednesday, February 28, 2024

Oil and NGL production grew by 3% versus the previous quarter and 6% when compared to the same period in 2022.

Key Points: 
  • Oil and NGL production grew by 3% versus the previous quarter and 6% when compared to the same period in 2022.
  • Cash costs(1) for the quarter totalled $4.73/boe, down 7% versus the previous quarter and 9% from the same period in 2022.
  • Freehold experienced a record leasing year in 2023 with 122 agreements signed during the period, a 53% increase from 2022.
  • In total, Freehold estimates approximately $7.7 billion in gross third-party capital was spent on its royalty lands in 2023 up from $6.3 billion in 2022.

Epsilon Announces and Closes an Acquisition in the Permian Basin

Retrieved on: 
Tuesday, February 27, 2024

Epsilon is pleased to announce the closing of a third transaction in the Permian Basin over the last twelve months, and the second with a Midland-based private operator focused on Mississippian development in Ector County, Texas on the Central Basin Platform.

Key Points: 
  • Epsilon is pleased to announce the closing of a third transaction in the Permian Basin over the last twelve months, and the second with a Midland-based private operator focused on Mississippian development in Ector County, Texas on the Central Basin Platform.
  • The acquired assets are a 25% working interest in 3 producing wells and 3,246 gross undeveloped acres.
  • The assets are directly offset to the Company’s existing assets in the play (together, the “Pradera Fuego Project” or “Pradera”).
  • Jason Stabell, Epsilon’s Chief Executive Officer, commented, “We are excited to announce this bolt-on acquisition to our existing assets in the Permian Basin.

APA Corporation Announces Timeline For Closing of Callon Petroleum Company Transaction; Issues Investor Slide Deck Highlighting Top-Tier Permian Performance

Retrieved on: 
Monday, February 26, 2024

Assuming both APA and Callon shareholder approvals are obtained, the closing of the acquisition is expected to occur on or about April 1, 2024.

Key Points: 
  • Assuming both APA and Callon shareholder approvals are obtained, the closing of the acquisition is expected to occur on or about April 1, 2024.
  • APA and Callon have scheduled separate shareholder meetings for March 27, 2024, for their respective shareholders to vote on the transaction.
  • We look forward to integrating the Callon assets and providing more information about the Permian Basin outlook from the combined assets.
  • The APA subsidiary Apache Corporation operates the majority of the company’s assets in the Permian Basin.

Vital Energy Reports Fourth-Quarter and Full-Year 2023 Financial and Operating Results

Retrieved on: 
Wednesday, February 21, 2024

TULSA, OK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported fourth-quarter and full-year 2023 financial and operating results and provided its 2024 outlook. Supplemental slides have been posted to the Company's website and can be found at www.vitalenergy.com. A conference call and webcast is planned for 7:30 a.m. CT, Thursday, February 22, 2024. Participation details can be found within this release.

Key Points: 
  • Plans to invest $750 - $850 million, increasing FY-24 oil production ~10% from 4Q-23 exit
    TULSA, OK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported fourth-quarter and full-year 2023 financial and operating results and provided its 2024 outlook.
  • "We now have the scale and inventory to sustainably maximize cash flows from operating activities and generate Adjusted Free Cash Flow.
  • In 2023, Vital Energy published the Company's fourth Sustainability Report and an inaugural Climate Risk and Resilience Report.
  • In 2023, Vital Energy expanded this certification to approximately 60% of its gross operated oil production and became the first company to receive the TrustWell Low Methane Rating.

Archrock Reports Fourth Quarter and Full Year 2023 Results and Provides 2024 Guidance

Retrieved on: 
Tuesday, February 20, 2024

HOUSTON, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the fourth quarter and full year 2023 and provided 2024 guidance.

Key Points: 
  • HOUSTON, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the fourth quarter and full year 2023 and provided 2024 guidance.
  • Revenue for the fourth quarter of 2023 was $259.6 million compared to $218.9 million in the fourth quarter of 2022.
  • Net income for the fourth quarter of 2023 was $33.0 million compared to $10.5 million in the fourth quarter of 2022.
  • Achieved record period-end utilization of 96% for the fourth quarter of 2023 compared to 93% in the fourth quarter of 2022.