Haynesville

Nine Energy Service Announces Third Quarter 2023 Results

Retrieved on: 
Monday, November 6, 2023
Energy, Other Energy, Oil, Gas, Weather, Pincer, Haynesville, Telephone number (mathematics), NYSE, EBITDA, Eagle Ford, Dallas, GAAP, Recurrence, Depreciation, Capital expenditure, Central Time, Borrowing base, Calendar, Capital, Video game, Bank, Q3

The Company had provided original third quarter 2023 revenue guidance between $140.0 and $150.0 million, with actual results coming within the provided range.

Key Points: 
  • The Company had provided original third quarter 2023 revenue guidance between $140.0 and $150.0 million, with actual results coming within the provided range.
  • “Third quarter revenue was in-line with expectations coming within our original guidance,” said Ann Fox, President and Chief Executive Officer, Nine Energy Service.
  • Completion tool revenue was down quarter over quarter due to a reduction in international sales as well as the reduction in U.S. completion activity.
  • Capital expenditures totaled $3.9 million during the third quarter of 2023 and totaled $16.2 million year-to-date through September 30, 2023.

Williams Reports Strong Third-Quarter Results

Retrieved on: 
Wednesday, November 1, 2023
Trucking, Other Energy, Logistics, Supply Chain Management, Oil, Gas, Transport, Energy, Other Transport, Adjustment, JV, Sale, Au Sable, Weather, Haynesville, Rocky Mountains, NGL, EBITDA, News, Modified, Discovery, Acquisition, Opal, MountainWest Sports Network, Ethane, Webcast, Central Time, NYMEX, Marketing, Barnett, Bookkeeping, Fine chemical, Petroleum, Broadcasting

In the third quarter, Williams sold its Bayou Ethane system for $348 million in cash, representing a last-twelve-month multiple over 14x Adjusted EBITDA.

Key Points: 
  • In the third quarter, Williams sold its Bayou Ethane system for $348 million in cash, representing a last-twelve-month multiple over 14x Adjusted EBITDA.
  • Williams has also agreed to purchase KKR’s 50 percent ownership interest in Rocky Mountain Midstream, resulting in 100 percent ownership of Rocky Mountain Midstream for Williams.
  • Williams' Third-Quarter 2023 Materials to be Posted Shortly; Q&A Webcast Scheduled for Tomorrow
    Williams' third-quarter 2023 earnings presentation will be posted at www.williams.com .
  • A webcast link to the conference call will be provided on Williams’ Investor Relations website.

DT Midstream Completes Phase 1 LEAP Expansion

Retrieved on: 
Wednesday, August 30, 2023
DTM, LEAP, Haynesville, Transco, GoldenPass Line, NYSE, Natural gas, LNG

DETROIT, Aug. 30, 2023 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) announced today the early commissioning of its LEAP phase 1 expansion, increasing its capacity from 1.0 Bcf/d to 1.3 Bcf/d, ahead of its planned Q4 2023 in service date and on budget.

Key Points: 
  • DETROIT, Aug. 30, 2023 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) announced today the early commissioning of its LEAP phase 1 expansion, increasing its capacity from 1.0 Bcf/d to 1.3 Bcf/d, ahead of its planned Q4 2023 in service date and on budget.
  • The pipeline’s phase 2 and phase 3 expansions remain on track for in-service dates of Q1 2024 and Q3 2024, respectively.
  • The multi-phased project will bring LEAP’s total capacity to 1.9 Bcf/d and provide scalability for further expansions up to 3 Bcf/d.
  • David Slater, DT Midstream President and CEO, stated, “The LEAP expansion project’s early in-service is a key first step in providing our customers ‘wellhead to water’ access to premium LNG markets.

WhiteHawk Energy Proposes to Combine with PHX Minerals, Inc. in Stock-for-Stock Transaction

Retrieved on: 
Wednesday, August 9, 2023
Oil, Gas, Natural Resources, Energy, Other Natural Resources, Mining, Minerals, Proposal, Letter, Haynesville Shale, G&A, Whitehawk, Vii, CFO, Immediate, Haynesville, Weil, Gotshal & Manges, Cryptocurrency, Holding company, Security (finance), Sales, PHX

An affiliate of WhiteHawk Energy, LLC (“WhiteHawk”), an independent energy minerals and royalties company, today sent a letter to Mark Behrman, the Chairman of PHX Minerals, Inc.’s (“PHX”) board of directors, copied in full below, with respect to its proposal to combine with PHX in a stock-for-stock transaction to form a publicly traded corporation, WhiteHawk Minerals Corporation.

Key Points: 
  • An affiliate of WhiteHawk Energy, LLC (“WhiteHawk”), an independent energy minerals and royalties company, today sent a letter to Mark Behrman, the Chairman of PHX Minerals, Inc.’s (“PHX”) board of directors, copied in full below, with respect to its proposal to combine with PHX in a stock-for-stock transaction to form a publicly traded corporation, WhiteHawk Minerals Corporation.
  • WhiteHawk is disclosing the contents of its letter in order to inform PHX stockholders of the potential opportunity to combine the two companies.
  • We are once again writing to reiterate an affiliate of WhiteHawk Energy, LLC’s (“WhiteHawk”) proposal to acquire PHX Minerals, Inc. (“PHX”) common stock in a stock-for-stock transaction to form a publicly traded corporation, WhiteHawk Minerals Corporation (“WhiteHawk Minerals”), pursuant to which PHX stockholders would own approximately 61%2 of the pro forma equity of WhiteHawk Minerals and would receive a one-time $0.20 per share cash dividend (the “Proposal”).
  • We strongly prefer to engage in direct and constructive discussions to reach an agreement for the benefit of PHX.

MRC Global Announces Second Quarter 2023 Results

Retrieved on: 
Monday, August 7, 2023
Permian, International, SG, Utility, Debt, GAAP, Central Time, MRC, Landfill gas utilization, Downstream, Gas, Internet, Production, Webcast, Growth, Haynesville, NYSE, Video game, Bookkeeping, Retail, Arms industry, Bank, DIET, PTI

HOUSTON, Aug. 07, 2023 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, today announced second quarter 2023 results.

Key Points: 
  • HOUSTON, Aug. 07, 2023 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, today announced second quarter 2023 results.
  • MRC Global’s second quarter 2023 gross profit was $175 million, or 20.1% of sales, as compared to the second quarter 2022 gross profit of $151 million, or 17.8% of sales.
  • Second Quarter 2023 Financial Highlights:
    Adjusted Gross Profit, as a percentage of sales, of 21.5%, an increase of 30 basis points compared to the first quarter of 2023
    Adjusted EBITDA of $63 million, or 7.2% of sales and our 5th consecutive quarter above 7%
    Rob Saltiel, MRC Global’s President and CEO stated, “Our second quarter results delivered revenue growth over last year, better-than-expected cash flow generation and strong adjusted gross profit margins.
  • We expanded our revenue backlog in the quarter, aided by gains in our International segment and our DIET sector.

WhiteHawk Energy Announces $100 Million Acquisition Finance Facility With Top Tier Institution to Accelerate Its Acqusition of Core Natural Gas Mineral and Royalty Assets

Retrieved on: 
Monday, August 7, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Partnership, Institution, Range Resources, CNX Resources, Marcellus Formation, Chesapeake Energy, EQT, Whitehawk, Acquisition, Haynesville, Haynesville Shale, Southwestern Energy

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today entrance into a $100.0 million acquisition finance facility (the "Acquisition Facility") with a top tier institution (“Institution”).

Key Points: 
  • WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today entrance into a $100.0 million acquisition finance facility (the "Acquisition Facility") with a top tier institution (“Institution”).
  • The Acquisition Facility will mature on December 31, 2025 and contains certain co-investment rights for the Institution.
  • “This is an exciting day for WhiteHawk, as we take our next big step towards being the leading natural gas mineral and royalty company in the United States.
  • There is a significant opportunity to continue to acquire natural gas mineral and royalty assets delivering consistent and growing cash flow in core basins developed by top-tier operators.

CHESAPEAKE ENERGY CORPORATION ACHIEVES GRADE "A" MIQ AND GRADE "A-" EO100™ RECERTIFICATION FOR MARCELLUS OPERATIONS

Retrieved on: 
Monday, July 17, 2023
Methane, GHG, Carbon, Chesapeake Energy, Certification, MIQ, Biodiversity, Climate change, Natural gas, ESG, Ethics, Equitable, Haynesville, Letter, Renewable energy

The company received a grade A under the MiQ methane emissions standard and a grade A- from Equitable Origin's EO100™ Standard for Responsible Energy Development, which focuses on environmental, social and governance (ESG) performance.

Key Points: 
  • The company received a grade A under the MiQ methane emissions standard and a grade A- from Equitable Origin's EO100™ Standard for Responsible Energy Development, which focuses on environmental, social and governance (ESG) performance.
  • "These achievements are a testament to our team and our commitment to deliver the affordable, reliable and lower carbon energy the world needs.
  • The MiQ standard is graded across a sliding A–F scale based on methane intensity, company practices and methane detection technology deployment.
  • "Chesapeake's A grade recertification underscores its commitment to continued emissions reduction in its natural gas production," said Georges Tijbosch CEO of MiQ.

Ranger Energy Services, Inc. Announces Q1 2023 Financial and Operational Results

Retrieved on: 
Tuesday, May 2, 2023
Oil, Gas, Energy, Permian, Ranger, Pressure, Ancillary services (electric power), Capital expenditure, Share repurchase, EBITDA, Acquisition, Wireline, Growth, Haynesville, Hand, NYSE, Video game, Security (finance), Tourism, Bookkeeping, Bank, Airline, Life insurance, Adjustment

Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for the first quarter ended March 31, 2023.

Key Points: 
  • Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for the first quarter ended March 31, 2023.
  • “Considering this progress and our previously announced capital return program, we initiated a share repurchase program late in the first quarter.
  • As previously communicated, we will continually evaluate capital return and deployment options that provide shareholders with the highest return opportunity.
  • The Company’s full-year 2023 financial guidance is unchanged and continues to reflect revenue growth and improved Adjusted EBITDA margins resulting from efforts to improve asset utilization and operating efficiency.

Verde Bio Holdings Provides Third Quarter Corporate Update

Retrieved on: 
Monday, March 20, 2023
Permian, Petro, File, Quarter, Natural gas, EOG, OTCQB, Hope, National Exchange Carrier Association, Acquisition, Corporation, FINRA, Growth, Investment banking, Haynesville, Environment, Fine chemical, Marketing, Financial services, Bank, Civitas

FRISCO, TX, March 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTCQB: VBHI), a growing oil and gas royalty company, today issued its third quarter shareholder update, along with its 10-Q filing with the highlights of the Quarter and what is in store for the future.

Key Points: 
  • FRISCO, TX, March 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTCQB: VBHI), a growing oil and gas royalty company, today issued its third quarter shareholder update, along with its 10-Q filing with the highlights of the Quarter and what is in store for the future.
  • "I'm pleased to report another quarter of consistent execution towards our growth initiatives driven by the strategic expansion of our low-risk, long-life, low-decline asset acquisition model.
  • Looking forward, we are focused on the growth of our portfolio and revenues as well as overall profitability.
  • The Quarter was somewhat quiet for the Company with acquisitions but was ripe with activity as it transforms for its next phase of growth.

Williams Continues Track Record of Financial Stability and Growth With Higher Fourth Quarter and Full-Year 2022 Results; Analyst Day Set for Feb. 21

Retrieved on: 
Monday, February 20, 2023
Other Energy, Utilities, Oil, Gas, Alternative Energy, Energy, Other Transport, Trucking, Transport, Storm, Hand, Investment, Marketing, Acquisition, Haynesville, News, GAAP, Adjustment, February 13–17, 2021 North American winter storm, Sequent, Growth, WMB, Real estate, Cryptocurrency, Life insurance

Debt is net of cash on hand, and Adjusted EBITDA reflects the sum of the last four quarters.

Key Points: 
  • Debt is net of cash on hand, and Adjusted EBITDA reflects the sum of the last four quarters.
  • (4) Full-year 2022 excludes $933 million for purchase of the Trace Midstream Haynesville gathering assets, which closed April 29, 2022.
  • (5) Full-year 2022 excludes $424 million for purchase of the NorTex Midstream assets, which closed August 31, 2022.
  • Full-year 2022 AFFO increased by $845 million reflecting higher operating results exclusive of non-cash items and higher distributions from equity-method investments.