Permian

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

Retrieved on: 
Wednesday, March 6, 2024
Permian, Flat top, NYMEX, Weather, Share repurchase, Wells Fargo, Oil

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
Permian, Investment, Mining, BMO Capital Markets, National Bank of Canada, Bank, Term loan, Scotiabank, Bank of Montreal, Carbon, Line of credit, CNG, Toronto-Dominion Bank, Cadence Bank, Bookrunner, National bank, Renewable energy

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
Permian, Acquisition, Growth, NGL, Eagle Ford, Dallas, WTI, Oil

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
Permian, EPSN, Acquisition, PDP

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
Permian, Acquisition, Data collection, Hart–Scott–Rodino Antitrust Improvements Act, APA Corporation, APA, Oil

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
Permian, Vitalism, Delaware Basin, TIL, Investment, OK, GAAP, LTIP, Consolidated, WTI, Webcast, G&A, MBO, GHG, Methane

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
Permian, Share repurchase, Growth, Capital expenditure, Sale, Video game

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.

Letter to Stockholders Issued by Diamondback Energy, Inc.

Retrieved on: 
Tuesday, February 20, 2024
Permian, Acquisition, Free cash flow, OPEC, Growth, CFPS, NGL, Sale, West Texas Intermediate, Viperidae, Letter, FCF, IPO, Firebird, Deep Blue, DD, WTI, LOE, Security (finance), EPS, Endeavour, G&A, MBO, GRP, Oil

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.
  • The fourth quarter of 2023 rounded out a great year for Diamondback Energy and our stockholders.
  • Diamondback is focused on per share growth, and we have now grown oil production per share 14x since our 2012 IPO.
  • Therefore, Diamondback is positioned to maintain our production, grow Free Cash Flow and return that Free Cash Flow to our stockholders.

Enterprise Begins Initial Service on TW Products System

Retrieved on: 
Thursday, March 7, 2024
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Permian, Multimedia, Natural gas, Gasoline, Transport, NGL, Atlas, Enterprise Products, EPD, Security (finance), Chaparral, JAL, Risk, Partner, Petroleum

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that the first phase of its Texas Western Products System (“TW Products System”) is now in service with the start of truck loading operations at the company’s new Permian terminal in Gaines County, Texas.

Key Points: 
  • Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that the first phase of its Texas Western Products System (“TW Products System”) is now in service with the start of truck loading operations at the company’s new Permian terminal in Gaines County, Texas.
  • View the full release here: https://www.businesswire.com/news/home/20240307497958/en/
    Enterprise's Hobbs TW Products terminal is located in Gaines County, Texas.
  • (Photo: Business Wire)
    “Once completed, the TW Products System will provide supply reliability and diversity to the historically underserved gasoline and diesel markets in the southwest United States,” said A.J.
  • Utilizing a batched delivery system will give the company the ability to continue transporting mixed NGLs and NGL purity products in addition to gasoline and diesel.

Granite Ridge Resources, Inc. Reports Fourth Quarter and Full-Year 2023 Results and Provides Outlook for 2024

Retrieved on: 
Thursday, March 7, 2024
Oil, Gas, Energy, Permian, Vitalism, Acquisition, Natural gas, Sale, OCF, GAAP, Security (finance)

Granite Ridge Resources, Inc. (NYSE: GRNT) (“Granite Ridge” or the “Company”) today reported financial and operating results for the fourth quarter and full-year 2023 and provided initial guidance for 2024.

Key Points: 
  • Granite Ridge Resources, Inc. (NYSE: GRNT) (“Granite Ridge” or the “Company”) today reported financial and operating results for the fourth quarter and full-year 2023 and provided initial guidance for 2024.
  • Luke Brandenberg, President and CEO of Granite Ridge, commented, “We were pleased to end fourth quarter and full year 2023 with an average daily production increase of 18% and 23%, respectively.
  • While we are typically a buyer of assets, we are always looking for opportunities to redeploy capital at attractive valuations.
  • The Company’s total production for the quarter grew 18% from the prior year quarter to 26,034 Boe per day.