BOE

Evolution Petroleum Reports First Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Second Quarter

Retrieved on: 
Tuesday, November 7, 2023
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Evolution reported $20.6 million of total revenue for the current quarter, a 13% increase from the prior quarter.

Key Points: 
  • Evolution reported $20.6 million of total revenue for the current quarter, a 13% increase from the prior quarter.
  • Lease operating costs (“LOE”) remained relatively flat at $11.9 million in the current quarter compared to $11.8 million in the prior quarter.
  • During the first quarter of fiscal 2024, the Company fully funded operations, development capital expenditures, and cash dividends through cash generated from operations and working capital.
  • As previously announced, Evolution Petroleum will host a conference call on Wednesday, November 8, 2023, at 10:00 a.m. Central Time to review its first quarter fiscal 2024 financial and operating results.

Letter to Stockholders Issued by Diamondback Energy, Inc.

Retrieved on: 
Monday, November 6, 2023
Knowledge, Acceleration, JV, Insurance, Sale, Policy, Security (finance), BOE, Public Sector Net Cash Requirement, Water, NGL, G&A, Viperidae, CFPS, GAAP, Acquisition, MBO, Atlas, GRP, Letter, Growth, Transport, EPS, Lake Como, LOE, Deep Blue, Firebird, Net asset value, FCF, WTI, Philosophy, Energy Independence and Security Act of 2007, Bank, Oil, Pharmaceutical industry, Airline, Holding company, Diamondback, Diamondback Energy

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.
  • In summary, Diamondback continues to execute on our business plan with our best-in-class cost structure and strong balance sheet.
  • This JV, of which Diamondback retained 30% ownership, creates the largest independent water business in the Midland Basin and brought in proceeds of ~$500 million to Diamondback.
  • Important information regarding forward-looking statements is included in our earnings release furnished to the SEC simultaneously with this letter.

Diamondback Energy, Inc. Announces Third Quarter 2023 Financial and Operating Results

Retrieved on: 
Monday, November 6, 2023
Sale, Delaware Basin, BOE, Public expenditure, EBITDA, G&A, Roc Oil Company, Free cash flow, Transport, Share repurchase, Hand, Ontario Energy Board, Natural gas, Barnett, Bank, Airline, Holding company, Diamondback

For the first nine months of 2023, Diamondback drilled 235 gross wells in the Midland Basin and 31 gross wells in the Delaware Basin.

Key Points: 
  • For the first nine months of 2023, Diamondback drilled 235 gross wells in the Midland Basin and 31 gross wells in the Delaware Basin.
  • Diamondback's third quarter 2023 net income was $915 million, or $5.07 per diluted share.
  • Third quarter 2023 net cash provided by operating activities was $1.4 billion.
  • Below is Diamondback's guidance for the full year 2023, which includes fourth quarter production, cash tax and capital guidance.

Vital Energy Reports Third-Quarter 2023 Financial and Operating Results

Retrieved on: 
Thursday, November 2, 2023
Permian, Consolidated, BOE, Investment, NYSE, Wells, Public expenditure, G&A, Vitalism, Sustainability reporting, GAAP, Certification, Free cash flow, Acquisition, MBO, TIL, OK, Maple, Methane, Tall, LTIP, Webcast, GHG, Acceleration, State Administrative Expenses, Medical device, Bank, Airline, Cryptocurrency

TULSA, OK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported its third-quarter 2023 financial and operating results. 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, Friday, November 3, 2023. Participation details can be found within this release.

Key Points: 
  • Record quarterly production exceeds guidance, leads to increased full-year 2023 outlook
    TULSA, OK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported its third-quarter 2023 financial and operating results.
  • 1Non-GAAP financial measure; please see supplemental reconciliations of GAAP to non-GAAP financial measures at the end of this release.
  • Wells completed by Vital Energy on the recently integrated Driftwood and Forge assets are currently outperforming historical oil production results by 7% and 29%, respectively.
  • Vital Energy updated its fourth-quarter 2023 capital investment guidance to $175 - $190 million (previously $195 - $210 million, provided with acquisition announcements in September).

Coterra Energy Reports Third-Quarter 2023 Results, Announces Quarterly Dividend

Retrieved on: 
Monday, November 6, 2023
Energy, Other Energy, Oil, Gas, Permian, BOE, Coterra, NYSE, Anadarko Basin, Public expenditure, United Nations, Activity, G&A, Share repurchase, Sustainability reporting, GAAP, Free cash flow, Nature, Atlas, Environment, Common, Progress Energy Inc, Natural gas, Webcast, Capital expenditure, Financial Accounting Standards Board, Arms industry, Bank, Holding company, Beef cattle, Clothing

Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported third-quarter 2023 financial and operating results.

Key Points: 
  • Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported third-quarter 2023 financial and operating results.
  • Additionally, the Company declared a quarterly dividend of $0.20 per share, provided fourth-quarter production and capital guidance, and updated full-year 2023 guidance.
  • Coterra published its 2023 Sustainability Report on November 6, 2023.
  • Coterra will host a conference call tomorrow, Tuesday, November 7, 2023, at 9:00 AM CT (10:00 AM ET), to discuss third-quarter 2023 financial and operating results.

ConocoPhillips Reports Third-Quarter 2023 Results; Announces 14% Increase in Quarterly Ordinary Dividend

Retrieved on: 
Thursday, November 2, 2023
Energy, Other Energy, Oil, Gas, Permian, Sale, BOE, NYSE, Steam, Public expenditure, Gate, CPF2, Eagle Ford, Dallas, Acquisition, VROC, Eagle Ford Group, LNG, Depreciation, CFO, Investment, ConocoPhillips, Cryptocurrency, Holding company, Mobile phone, Airline, Bank, Surmont

And today we announced a 14% increase in our quarterly ordinary dividend, consistent with our long-term objective to deliver top quartile growth relative to the S&P 500."

Key Points: 
  • And today we announced a 14% increase in our quarterly ordinary dividend, consistent with our long-term objective to deliver top quartile growth relative to the S&P 500."
  • Increased the quarterly ordinary dividend by 14% to $0.58 per share.
  • ConocoPhillips announced a quarterly ordinary dividend of $0.58 per share, payable Dec. 1, 2023, to stockholders of record at the close of business on Nov. 14, 2023.
  • Beginning in the first quarter of 2024, ConocoPhillips plans to pay its quarterly ordinary dividend and VROC concurrently and will announce such payments in the same quarter they will be paid.

Pioneer Natural Resources Reports Third Quarter 2023 Financial and Operating Results

Retrieved on: 
Thursday, November 2, 2023
Oil, Gas, Energy, Policy, BOE, NYSE, Tax, IRR, Pioneer Natural Resources, Public expenditure, G&A, DD, Canadian petroleum companies, Nature, Foot, Atlas, Environment, Transport, Social responsibility, Income tax, Depreciation, Hand, Natural Resources, Pioneer, PXD, ExxonMobil, Security (finance), Airline, Renewable energy

Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") today reported financial and operating results for the quarter ended September 30, 2023.

Key Points: 
  • Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") today reported financial and operating results for the quarter ended September 30, 2023.
  • Pioneer reported third quarter net income attributable to common shareholders of $1.3 billion, or $5.41 per diluted share.
  • The Company emphasizes developing natural resources in a manner that protects surrounding communities and preserves the environment.
  • Due to the pending merger with ExxonMobil, Pioneer will not host a conference call or webcast to discuss its third quarter 2023 results.

Matador Resources Company Reports Third Quarter 2023 Results and Increases Fourth Quarter Production Guidance

Retrieved on: 
Tuesday, October 24, 2023
Oil, Gas, Natural Resources, Energy, Mining, Minerals, Other Energy, Delaware Basin, Weather, BOE, NYSE, History, Public expenditure, GAAP, Acquisition, Bureau of Land Management, Maintenance, Bureau, Chase Bank, North Thames Gas Board, JPMorgan Chase, Horseshoe, XOP, Bullfighter, Evacuation slide, Natural gas, Video game, Petroleum, Wolf

Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today reported financial and operating results for the third quarter of 2023.

Key Points: 
  • Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today reported financial and operating results for the third quarter of 2023.
  • This record total production for the third quarter of 2023 was 3% better sequentially than our former total production record of 130,683 BOE per day in the second quarter of 2023.
  • We anticipate achieving the mid-to-high end of our full-year 2023 guidance range for total oil and natural gas equivalent production, oil production and natural gas production.
  • Effective October 24, 2023, Matador anticipates achieving the mid-to-high end of its full-year 2023 guidance range for total oil and natural gas equivalent production, oil production and natural gas production.

Peyto Announces Closing of Repsol Acquisition, Exchange of Subscription Receipts Into Common Shares, an Issuance of Senior Secured Notes and Appointment of New Director

Retrieved on: 
Tuesday, October 17, 2023
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CALGARY, Alberta, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to announce that it has completed its previously announced acquisition of Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U. ("Repsol"), including all related midstream facilities and infrastructure located predominantly in the Deep Basin area of Alberta, for cash consideration of US$468 million (CDN$636 million) (the "Acquisition") prior to closing adjustments. The Acquisition increases Peyto’s current production to 123,000 boe/d (86% natural gas, 14% NGLs), adds over 800 high-impact gross drilling locations1 and includes extensive gas processing and pipeline infrastructure that complement Peyto’s legacy assets in the Edson area. Peyto has plans to begin drilling operations on the Repsol lands, immediately.

Key Points: 
  • In addition, on closing of the Acquisition, in accordance with the terms of the Subscription Receipts, each Subscription Receipt was exchanged for one common share of Peyto.
  • Trading in the Subscription Receipts on the Toronto Stock Exchange is expected to be halted and the Subscription Receipts delisted before trading commences on October 18, 2023.
  • The Company is also pleased to announce that it has priced an issuance of $160 million of senior secured notes.
  • Material assumptions include timing and payment of dividends on the Common Shares and the de-listing of the Subscription Receipts on the Toronto Stock Exchange.

IDTechEx Asks, Will LCDs Be Replaced in VR

Retrieved on: 
Wednesday, September 27, 2023
AMOLED, Sony Semiconductor Israel, OLED, Life, Smartphone, London, Lens, EMagin, Sault Ste. Marie Airport, Samsung, Research, JDI, LCD, D/Vision Pro, TrafFix Devices, Inc. v. Marketing Displays, Inc., VR, PlayStation VR2, Very important person, Motion, HKC, CMOS, Immersion, Apple, BOE, Growth, Silicon, PPI, RGB, Pixel, Glass, PlayStation, Japan Display, FMM, Apple Thunderbolt Display, Television, Video game, Sony

It predicts the VR display market to grow at a CAGR of 7.5% to 2034, with innovation in display technology driving this growth ahead of the whole VR market.

Key Points: 
  • It predicts the VR display market to grow at a CAGR of 7.5% to 2034, with innovation in display technology driving this growth ahead of the whole VR market.
  • As this problem was solved, VR headset designers saw the other advantages of LCDs, as well as their lower cost.
  • The display industry clearly views this technology as extremely important, and IDTechEx expects OLED-on-Si to be a leading VR display technology by 2034.
  • As the VR landscape evolves, OLED-on-Si and other emerging technologies, including micro-LED, are expected to reshape the VR display landscape, eventually ending LCDs' current reign.