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BP(BP) - 2022 Q2 - Earnings Call Transcript
2022-08-17 04:46
Archaea Energy Inc. (LFG) Q2 2022 Earnings Conference Call August 16, 2022 11:00 AM ET Company Participants Megan Light - VP of IR Nick Stork - CEO Brian McCarthy - CFO Conference Call Participants Derrick Whitfield - Stifel Matthew Blair - Tudor, Pickering, Holt Craig Shere - Tuohy Brothers Operator Good morning, and welcome to the Archaea Energy, Inc. Second Quarter 2022 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this event is being recorded. I'd now like to turn the call ...
BP(BP) - 2022 Q2 - Earnings Call Presentation
2022-08-17 01:13
Financial Highlights - 2Q 2022 net income was $32.6 million[12] - 2Q 2022 Adjusted EBITDA was $30.1 million[12] - The company increased 2022 Adjusted EBITDA guidance range to $132.5 – $147.5 million[12] Operational Achievements - RNG Produced and Sold was 2.04 Million MMBtu[12] - Electricity Produced and Sold was 159 thousand MWh[12] - Expanded commercial partnership with Énergir via new 20-year, fixed-price contract for more than 2 million MMBtu / year[13] - New commercial partnership with UGI via 5-year, fixed-price contract for 331,785 MMBtu / year[13] Strategic Initiatives - Initial capital contribution to Lightning Renewables JV for $222.5 million[12] - Lightning Renewables JV successfully acquired an additional site ("Fort Wayne") for $38 million[28] - Closed INGENCO acquisition[12] - Won 3 competitive RFP processes to develop new RNG facilities at municipal landfills[12] Future Outlook - The company targets 70% of RNG volumes committed under long-term, fixed-price agreements[98] - The company has a high-quality project backlog creates clear trajectory for Adjusted EBITDA growth[86]
BP(BP) - 2022 Q2 - Quarterly Report
2022-08-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 for the period ended 30 June 2022 Commission File Number 1-06262 BP p.l.c. (Translation of registrant's name into English) 1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 4 ...
Archaea Energy (LFG) Presents At JPMorgan Energy, Power, & Renewables Conference - Slideshow
2022-06-24 22:31
| --- | --- | --- | |----------------------------|---------------|-----------------------------------------------------------| | | | | | | | | | Renewable Energy Redefined | June 23, 2022 | J.P. Morgan 2022 Energy, Power and Renewables Conference | Cautionary Notes Forward-Looking Statements 2 This presentation contains certain statements that may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of ...
BP(BP) - 2022 Q1 - Earnings Call Transcript
2022-05-10 18:55
Archaea Energy Inc. (LFG) Q1 2022 Earnings Conference Call May 10, 2022 11:00 AM ET Company Participants Nick Stork – Chief Executive Officer Brian McCarthy – Chief Financial Officer & Chief Investment Officer Megan Light – Vice President of Investor Relations Conference Call Participants Hamzah Mazari – Jefferies Derrick Whitfield – Stifel Matthew Blair – Tudor, Pickering, Holt & Co. Paige Graf – U.S. Capital Advisors Craig Shere – Tuohy Brothers Investment Research Operator Greetings and welcome to Archae ...
BP(BP) - 2022 Q1 - Quarterly Report
2022-05-02 16:00
Financial Performance - Reported loss for the first quarter 2022 was $20.4 billion, compared to a profit of $2.3 billion in the fourth quarter of 2021[8] - Underlying replacement cost profit for the first quarter was $6.2 billion, an increase from $4.1 billion in the previous quarter[9] - The replacement cost profit before interest and tax for Q1 2022 was $3,831 million, up from $1,479 million in Q1 2021, reflecting a significant increase in profitability[69] - Underlying replacement cost profit before interest and tax for Q1 2022 was $4,683 million, compared to $1,565 million in Q1 2021, indicating strong operational performance[70] - Total adjusted EBITDA for Q1 2022 was $6,163 million, an increase from $3,195 million in Q1 2021, showcasing improved earnings before interest, taxes, depreciation, and amortization[76] - Total sales and other operating revenues for Q1 2022 were $49,258 million, a decrease from $50,554 million in Q4 2021[154] - BP's revenue from contracts with customers in Q1 2022 was $46,920 million, compared to $42,628 million in Q1 2021[154] - Total comprehensive income for the first quarter of 2022 was $(9,364) million, a decrease from $3,355 million in the fourth quarter of 2021[113] Cash Flow and Debt Management - Operating cash flow for the first quarter was $8.2 billion, up from $6.1 billion in the same period last year[22] - Net debt reduced to $27.5 billion at the end of the first quarter, down from $30.6 billion at the end of the fourth quarter 2021[25] - Surplus cash flow generated in the first quarter was $4.1 billion, with a $2.5 billion share buyback announced[9] - BP plans to use 60% of surplus cash flow for share buybacks and allocate the remaining 40% to strengthen the balance sheet[41] - The company completed a share buyback program, repurchasing 300 million ordinary shares for $1,592 million in the first quarter of 2022[157] - The net cash provided by operating activities for the first quarter of 2022 was $8,210 million, an increase from $6,116 million in the fourth quarter of 2021[123] - BP's net debt including leases was $36,129 million in the first quarter of 2022, down from $39,411 million in the fourth quarter of 2021[174] Capital Expenditure - Capital expenditure in the first quarter was $2.9 billion, compared to $3.8 billion in the first quarter of 2021[23] - Total capital expenditure for the first quarter 2022 was $715 million, compared to $1,224 million in the fourth quarter 2021[91] - Organic capital expenditure for the first quarter of 2022 was $2,573 million, compared to $3,512 million in the fourth quarter of 2021[169] - Capital expenditure for Q1 2022 was $1,254 million, a decrease from $1,319 million in Q1 2021, reflecting a strategic focus on cost management[76] Production and Operations - Reported production for Q1 2022 was 966 mboe/d, a 6.2% increase compared to Q1 2021, mainly due to major project start-ups[52] - Liquids production for Q1 2022 was 948 mb/d, while natural gas production was 1,964 mmcf/d, reflecting a slight decrease in overall production compared to Q1 2021[77] - BP's total hydrocarbons production in the first quarter 2022 was 750 mboe/d, down from 1,126 mboe/d in the fourth quarter 2021[108] - BP expects second-quarter 2022 underlying upstream production to be lower than Q1 2022, primarily in gas & low carbon energy[35] Strategic Initiatives - Major project start-up in the Gulf of Mexico and creation of Azule Energy joint venture in Angola were highlighted as part of the company's transformation strategy[10] - The company continues to progress its EV charging strategy and has plans to invest £1 billion in the UK over the next decade[10] - The company announced a strategic partnership with Volkswagen Group to roll out an EV fast charging network in Europe and the UK, aiming for up to 8,000 new charge points by the end of 2024[85] - The company entered into a 10-year strategic agreement with Nuseed to accelerate market adoption of sustainable low-carbon biofuel feedstock[86] Impairments and Charges - Significant pre-tax charges of $30.8 billion were recorded as adjusting items, primarily due to the exit from Rosneft[8] - BP reported a total pre-tax charge of $25,520 million in Q1 2022 related to its investment in Rosneft and other businesses in Russia[139] - The impairment charge of $13,479 million was primarily due to the loss of significant influence over Rosneft, with an additional $11,082 million reclassified from equity to the income statement[135][136][147] - The gas & low carbon energy segment reported a net impairment charge of $252 million in Q1 2022, compared to $122 million in the same period of 2021[145] - The oil production & operations segment experienced a net impairment charge of $624 million in Q1 2022, up from $99 million in Q1 2021[146] Shareholder Information - Dividend announced for the first quarter was 5.46 cents per ordinary share, payable in June 2022[8] - BP shareholders' equity decreased to $63,299 million as of March 31, 2022, down from $75,463 million at the beginning of the year[116] - BP's total equity decreased to $78,519 million in the first quarter of 2022 from $90,439 million in the fourth quarter of 2021[163]
BP(BP) - 2021 Q4 - Annual Report
2022-03-18 11:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 ...
BP(BP) - 2021 Q4 - Earnings Call Transcript
2022-03-17 21:32
Archaea Energy Inc. (LFG) Q4 2021 Earnings Conference Call March 17, 2022 11:00 AM ET Company Participants Nick Stork – Chief Executive Officer Brian McCarthy – Chief Financial Officer and Chief Investment Officer Megan Light – Vice President of Investor Relations Conference Call Participants Derrick Whitfield - Stifel Hamzah Mazari - Jefferies Matthew Blair - Tudor Martin Malloy – Johnson Craig Shere - Tuohy Brothers Paige Graf - U.S. Capital Advisors. Operator Good morning and welcome to the Archaea En ...
BP(BP) - 2021 Q3 - Earnings Call Transcript
2021-11-16 21:18
Archaea Energy Inc. (LFG) Q3 2021 Earnings Conference Call November 16, 2021 11:00 AM ET Company Participants Megan Light - Vice President of Investor Relations Nick Stork - Chief Executive Officer Eric Javidi - Chief Financial Officer Conference Call Participants Hamzah Mazari - Jefferies Craig Shere - Tuohy Brothers Timm Schneider - Citi Operator Good morning, and welcome to the Archaea Energy Third Quarter 2021 Earnings Call and Webcast. This event is being recorded [Operator Instructions]. I would now l ...
BP(BP) - 2020 Q4 - Annual Report
2021-03-22 16:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 ...