Delaware Basin

Permianville Royalty Trust Announces Monthly Cash Distribution

Retrieved on: 
Friday, February 17, 2023
Oil, Gas, Energy, Public expenditure, Sponsor, Annual report, Capital expenditure, Trustee, Bookkeeping, Cryptocurrency, Delaware Basin, Trust

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $3.0 million for the current month on realized wellhead prices of $80.01/Bbl, down $0.1 million from the prior month’s oil cash receipts.

Key Points: 
  • Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $3.0 million for the current month on realized wellhead prices of $80.01/Bbl, down $0.1 million from the prior month’s oil cash receipts.
  • Recorded natural gas cash receipts from the Underlying Properties totaled $1.1 million for the current month on realized wellhead prices of $5.19/Mcf, down $0.4 million from the prior month.
  • Total accrued operating expenses for the period were $2.4 million, an increase of $0.4 million from the prior period.
  • Capital expenditures increased $1.7 million from the prior period to $1.9 million.

Energy Transfer Reports Strong Fourth Quarter 2022 Results and Announces 2023 Outlook

Retrieved on: 
Wednesday, February 15, 2023
Oil, Gas, Natural Resources, Energy, Mining, Minerals, Other Energy, Transfer, Permian, Public expenditure, Haynesville Shale, Wolf, Interstate Highway System, Natural gas, Strategic Petroleum Reserve (United States), Master limited partnership, USAC, Transport, Delaware Basin, Corporation, NYSE, Gulf Coast of the United States, Acquisition, Maintenance, NGL, Carbon, EBITDA, Sunoco, Corporate social responsibility, Energy Transfer Partners, SUN, Partnership, Risk management, Enabling, Borrowing base, Bear, Propane, Cryptocurrency, Petroleum, Video game, David Sherman, LP

Energy Transfer LP (NYSE:ET) (“Energy Transfer” or the “Partnership”) today reported financial results for the quarter and year ended December 31, 2022.

Key Points: 
  • Energy Transfer LP (NYSE:ET) (“Energy Transfer” or the “Partnership”) today reported financial results for the quarter and year ended December 31, 2022.
  • Energy Transfer expects its 2023 Adjusted EBITDA to range between $12.9 billion and $13.3 billion.
  • During the fourth quarter of 2022, Energy Transfer’s assets continued to reach new milestones, with volumes increasing across all segments compared to the same period last year.
  • In January 2023, Energy Transfer announced a quarterly cash distribution of $0.305 per common unit ($1.22 annualized) for the quarter ended December 31, 2022.

NGL Energy Partners LP Announces Third Quarter Fiscal 2023 Financial Results

Retrieved on: 
Thursday, February 9, 2023
Trucking, Other Energy, Logistics, Supply Chain Management, Oil, Gas, Transport, Energy, Other Transport, Public expenditure, Loss, Record, Central Time, Water, CMA, Partnership taxation in the United States, Liquid logistics, Water & Solutions, Note, Delaware Basin, West Texas Intermediate, Acquisition, NGL, Maintenance, EBITDA, GAAP, Webcast, WTI, Sale, Risk, Forecasting, Hurricane Ida, Argus, Depreciation, Borrowing base, Maple syrup, Bookkeeping, Adjustment, Partnership

Operating income for the Crude Oil Logistics segment increased $13.8 million for the quarter ended December 31, 2022, compared to the quarter ended December 31, 2021.

Key Points: 
  • Operating income for the Crude Oil Logistics segment increased $13.8 million for the quarter ended December 31, 2022, compared to the quarter ended December 31, 2021.
  • A conference call to discuss NGL’s results of operations is scheduled for 4:30 pm Central Time on Thursday, February 9, 2023.
  • NGL defines EBITDA as net income (loss) attributable to NGL Energy Partners LP, plus interest expense, income tax expense (benefit), and depreciation and amortization expense.
  • Forward-looking non-GAAP financial measures provided without the most directly comparable U.S. GAAP financial measures may vary materially from the corresponding U.S. GAAP financial measures.

Medallion Closes on Sale of Natural Gas Business

Retrieved on: 
Monday, February 6, 2023
Oil, Gas, Energy, Sale, Mineral group, Petroleum, Delaware Basin

Medallion Midstream Services (“Medallion”), a portfolio company of The Energy & Minerals Group, announced today that it has closed the sale of its natural gas gathering and processing business in the Delaware Basin to Cardinal Midstream Partners.

Key Points: 
  • Medallion Midstream Services (“Medallion”), a portfolio company of The Energy & Minerals Group, announced today that it has closed the sale of its natural gas gathering and processing business in the Delaware Basin to Cardinal Midstream Partners.
  • “We are pleased to have completed this transaction as it allows us to enhance our focus on the continuing growth of Medallion’s crude oil gathering and transportation business, which serves its customers through a network of over 1,300 miles of pipeline spanning the Midland and southern Delaware Basins,” said Randy Lentz, Medallion’s Chief Executive Officer.

Matador Resources Company Announces Strategic Bolt-on Delaware Basin Acquisition

Retrieved on: 
Tuesday, January 24, 2023
Oil, Gas, Energy, Avalon, EnCap, Public expenditure, EnCap Investments, Sewell, Central Time, Hand, Natural gas, PD, LLP, Bone Spring Formation, JPMorgan Chase, NYSE, Acquisition, Friends, Pronto, Adjustment, BOE, British thermal unit, Vinson & Elkins, Borrowing base, Bank, Cryptocurrency, Airline, Potash, Advance, Bullfighter, Delaware Basin

Matador’s management will host a live conference call to discuss the Advance Transaction on Tuesday, January 24, 2023 at 10:00 am Central Time.

Key Points: 
  • Matador’s management will host a live conference call to discuss the Advance Transaction on Tuesday, January 24, 2023 at 10:00 am Central Time.
  • Foran, Matador’s Founder, Chairman and CEO, commented, “Matador is very excited by this strategic bolt-on opportunity as well as the opportunity to work with Advance and EnCap.
  • Matador expects to add future proved reserves and reserves value as a result of the development of these properties going forward.
  • This acquisition also provides us with increased operational scale in the Delaware Basin, which we expect will improve our overall rates of return and unit-of-production costs.

Mexco Energy Corporation Reports Financial Results for Third Quarter

Retrieved on: 
Friday, February 10, 2023
Permian, Safe harbor, MXC, NYSE, Acquisition, Regulation, Delaware Basin, Natural gas, Oil

MIDLAND, TX, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) today reported net income of $1,244,785, or $0.56 per diluted share, for the Company’s third quarter of fiscal 2023 compared with $753,302, or $0.35 per diluted share, for the third quarter of fiscal 2022.

Key Points: 
  • MIDLAND, TX, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) today reported net income of $1,244,785, or $0.56 per diluted share, for the Company’s third quarter of fiscal 2023 compared with $753,302, or $0.35 per diluted share, for the third quarter of fiscal 2022.
  • For more information on Mexco Energy Corporation, go to www.mexcoenergy.com .
  • Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements.
  • For additional information, please contact: Tammy L. McComic, President and Chief Financial Officer, at Mexco Energy Corporation, (432) 682-1119.

Crestwood Provides Fourth Quarter Operational Update

Retrieved on: 
Wednesday, January 11, 2023
Other Transport, Trucking, Rail, Air, Other Energy, Transport, Oil, Gas, Energy, Logistics, Supply Chain Management, Weather, Public expenditure, EBITDA, Vista Equity Partners, Safety, NYSE, Freezing, Growth, Oil, Risk management, Delaware Basin

Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today announced that it expects fourth quarter 2022 financial results to be impacted by extreme winter weather events that adversely impacted volumes and well connect activity across Crestwood’s gathering & processing assets during the quarter.

Key Points: 
  • Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today announced that it expects fourth quarter 2022 financial results to be impacted by extreme winter weather events that adversely impacted volumes and well connect activity across Crestwood’s gathering & processing assets during the quarter.
  • Compared with previous expectations underpinning prior full-year 2022 guidance, Crestwood estimates fourth quarter Williston Basin gathering volumes to have decreased by approximately 15%, and Powder River Basin and Delaware Basin gas gathering volumes to have decreased by approximately 5% to 10%.
  • As a result, Crestwood anticipates that its full-year 2022 financial results will be slightly below previously provided guidance ranges.
  • Crestwood and its producer customers have fully resumed normal operations and expect these volume disruptions to be isolated to the fourth quarter.

NGL Energy Partners LP Announces Increase in Adjusted EBITDA Guidance, Indebtedness at December 31, 2022 and Appointment of New Chief Financial Officer

Retrieved on: 
Tuesday, January 3, 2023
Other Transport, Trucking, Other Energy, Transport, Oil, Gas, Energy, Other Natural Resources, Logistics, Supply Chain Management, Natural Resources, Linda, Water, Administration, EBITDA, Williams Companies, Note, Risk management, NGL, Growth, NYSE, Nature, Delaware Basin, Partnership, WPX Energy, Finance

NGL Energy Partners LP (NYSE: NGL) (“the “Partnership” or “NGL”) announced an increase to its Fiscal 2023 Adjusted EBITDA guidance today.

Key Points: 
  • NGL Energy Partners LP (NYSE: NGL) (“the “Partnership” or “NGL”) announced an increase to its Fiscal 2023 Adjusted EBITDA guidance today.
  • The Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million.
  • Of this amount, more than $430 million is expected to be generated from the Partnership’s Water Solutions segment.
  • “As we increase Adjusted EBITDA and reduce indebtedness, we continue to de-lever.”
    In addition, NGL today announces that Brad Cooper will be promoted to Executive Vice President and Chief Financial Officer effective January 13, 2023.

Permian Resources Announces Senior Leadership Changes

Retrieved on: 
Wednesday, December 14, 2022
Permian, Acquisition, Jefferies Group, Executive, Delaware Basin, NYSE, ConocoPhillips, Sale, CFO, Energen Resources Corporation, Colgate, Senior advisor, Knowledge, Pleasure, Centennial, RSP, Concho Resources, History, Range Resources, Retirement, Management, Finance

MIDLAND, Texas, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced pending retirements of two executive officers of the Company, along with their respective succession plans.

Key Points: 
  • MIDLAND, Texas, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced pending retirements of two executive officers of the Company, along with their respective succession plans.
  • Previously, Mr. Gray was Founder, Director and Chief Executive Officer of RSP Permian until its merger with Concho Resources.
  • Permian Resources announced that Guy Oliphint will join the Company as Executive Vice President of Finance, effective January 3, 2023.
  • “I’m excited to partner with Guy as he prepares to lead the finance function of Permian Resources and have no doubt he will do an outstanding job.”
    “We are pleased to welcome Guy as Permian Resources’ incoming CFO.

Houston American Energy Increases Interest in Colombian CPO-11 Project

Retrieved on: 
Friday, December 9, 2022
Venus, Acquisition, Delaware Basin, Cappello romano, NYSE, Regulation, Mineral, Mike Houston (American football), Llanos Basin, Colonization of Venus

Houston, TX, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) today announced the acquisition of an additional interest in Hupecol Meta, LLC.

Key Points: 
  • Houston, TX, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) today announced the acquisition of an additional interest in Hupecol Meta, LLC.
  • Through its membership interest in Hupecol Meta, Houston American now holds an approximately 16% interest in the Venus Exploration area and an approximately 8% interest in the remainder of the block.
  • John Terwilliger, CEO of Houston American, stated, “We are excited about the increase of our interest in the CPO-11 block, the progress made by Hupecol Meta to date and the outlook for development of the block.
  • For additional information, view the company’s website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.