Financial Performance - FY25 Revenue was $267.1 million, within the guidance range of $265M-$275M [14, 16] - FY25 Adjusted EBITDA was $28.8 million, also within the guidance range of $28M-$33M [14, 16] - Q4FY25 Revenue decreased by 15.3% to $71.2 million compared to $84.1 million in Q4FY24 [16, 27] - FY25 Free Cash Flow was $12.1 million, a significant decrease from $48.9 million in FY24 [16] - FY25 Adjusted EBITDA decreased by 48% to $28.8 million compared to $55.3 million in FY24 [16, 27] Segment Performance - Enterprise Division revenue for FY25 was $188.1 million, a 9.6% decrease compared to $208.1 million in FY24 [31, 35] - Education Division revenue for FY25 was $74.6 million, a slight increase of 0.5% compared to $74.2 million in FY24 [31, 37] - Enterprise Division's Q4FY25 revenue decreased by 21.6% to $45.7 million compared to $58.2 million in Q4FY24 [31, 35] - Education Division's Q4FY25 revenue remained relatively flat at $24.4 million compared to $24.4 million in Q4FY24 [31, 37] Deferred Revenue - Q4FY25 Deferred Subscription Revenue Balance was $111.7 million, compared to $107.9 million in Q4FY24 [16]

Third Quarter 2025 Earnings November 5, 2025 Today's Presenters Barry McCarthy President and Chief Executive Officer Chip Zint Senior Vice President and Chief Financial Officer Brian Anderson © 2025 Deluxe Corporation Brian Anderson Vice President, Strategy & Investor Relations 2 Vice President, Strategy & Investor Relations 3 Cautionary Statement Statements made in this presentation regarding Deluxe, the company's,or management's intentions, expectations, outlook, or predictions about future results or eve ...

Third Quarter Highlights †See "Non-IFRS Financial Information"1 Calculated as trailing 12 month Free Cash Flowover the average trailing 12 month market capitalization in USD. Gerard Bond, President and CEO of OceanaGold, said: "The third quarter was another period of safe and responsible gold production in which we continued to generate substantial Free Cash Flow, despite it being the planned lowest production quarter of the year. The investment made in waste stripping at Haile and Macraes throughout 2025 ...

Core Insights - W&T Offshore, Inc. reported a net loss of $71.5 million for Q3 2025, significantly impacted by a non-cash valuation allowance against deferred tax assets [4][13] - The company declared a fourth quarter 2025 dividend of $0.01 per share, continuing its commitment to return value to shareholders [4][18] - Production increased by 6% quarter-over-quarter to 35.6 MBoe/d, driven by the integration of new fields from the Cox acquisition [2][4] Financial Performance - Revenues for Q3 2025 were $127.5 million, a 4% increase from Q2 2025, primarily due to higher production volumes [4][5] - Adjusted EBITDA grew by 11% quarter-over-quarter to $39.0 million [4] - Average realized price per Boe decreased by 2% from Q2 2025 to $38.33 per Boe [3][4] Production and Costs - Production for Q3 2025 consisted of 14.3 MBbl/d of oil, 3.1 MBbl/d of NGLs, and 111.6 MMcf/d of natural gas [2] - Lease operating expenses (LOE) per Boe decreased by 8% to $23.27, despite an absolute cost of $76.2 million [4][6] - Gathering, transportation costs, and production taxes totaled $5.8 million, slightly higher than Q2 2025 [7] Balance Sheet and Liquidity - As of September 30, 2025, the company had $124.8 million in unrestricted cash and total debt of $350.4 million, with net debt decreasing by $58.6 million from the end of 2024 [14][15] - The net debt to trailing twelve months Adjusted EBITDA ratio was 1.6x [15] Capital Expenditures and Guidance - Capital expenditures for Q3 2025 were $22.5 million, with a revised full-year guidance of $57 million to $63 million [16][17] - The company expects to lower gathering, transportation, and production taxes guidance for the full year 2025 to $24.0 – $26.0 million [20] Operational Updates - W&T performed five low-cost workovers and three recompletions in Q3 2025, positively impacting production and revenue [19] - The company plans to continue low-cost operations that enhance production and revenue [19]

Core Insights - Riley Exploration Permian, Inc. reported solid financial and operational results for Q3 2025, highlighting disciplined execution and strategic progress, including the successful integration of the Silverback acquisition [2][5][19] - The company increased its quarterly dividend by 5% to $0.40 per share, reflecting confidence in its cash flow generation [2][10] - Average oil production during the quarter was 18.4 MBbls/d, with total equivalent production averaging 32.3 MBoe/d, marking a 21% increase in daily oil volumes and a 33% increase in total equivalent volumes quarter-over-quarter [4][6] Financial Performance - Revenues for Q3 2025 totaled $107 million, with net income of $16 million or $0.77 per diluted share [6] - Adjusted EBITDAX was reported at $64 million, with total free cash flow of $25 million [6][13] - The company incurred total capital expenditures of $29 million, with $18 million accrued for activity-based capital expenditures [8][14] Operational Highlights - The company drilled 0.0 net wells in Q3 2025 but completed 5.0 net wells and turned to sales 7.5 net wells [3][4] - The integration of Silverback operations led to increased oil production above pre-acquisition levels [5] - The company is advancing its midstream infrastructure in New Mexico, with a planned 2026 in-service date for a pipeline [11][19] Production and Pricing - Average realized prices were $63.94 per barrel of oil, $(0.21) per Mcf of natural gas, and $(0.66) per barrel of natural gas liquids [7][18] - The company reported a $2 million gain on derivatives, primarily realized [7] Debt and Capital Structure - As of September 30, 2025, the company had $375 million in total debt, with $225 million outstanding on its Credit Facility and $150 million in Senior Notes [9][29] - The company increased total debt by $91 million, primarily to fund the Silverback acquisition [9] Future Guidance - The company raised its full-year oil production guidance by 2% at the midpoint, with a 4% increase expected for Q4 2025 [13][19] - Detailed guidance for Q4 2025 includes plans for drilling 8.0 to 10.0 net operated wells and total capital expenditures between $50 million and $71 million [21]

Core Viewpoint - Seadrill Limited reported a net loss of $11 million for the third quarter of 2025, a significant improvement from a net loss of $42 million in the previous quarter, while total operating revenues decreased to $363 million from $377 million [3][4][6]. Financial Highlights - Total operating revenues for Q3 2025 were $363 million, down from $377 million in Q2 2025, primarily due to lower economic utilization and fewer rig operating days [4][6]. - Contract revenues amounted to $280 million, compared to $288 million in the prior quarter [3][19]. - Adjusted EBITDA was reported at $86 million, down from $106 million in the previous quarter, with an adjusted EBITDA margin of 24.4% [3][6][27]. - The diluted loss per share improved to $0.17 from $0.68 in the prior quarter [3][19]. Operational Results - The company secured over $300 million in new contracts across five rigs, enhancing its order backlog [5][6]. - Economic utilization for the quarter was reported at 91.1%, down from 93.4% in the previous quarter [29][31]. - Total operating expenses decreased by $34 million to $337 million, with a notable reduction in management contract expenses [6][19]. Balance Sheet and Cash Flow - As of September 30, 2025, Seadrill had gross principal debt of $625 million and cash and cash equivalents of $428 million, resulting in a net debt position of $197 million [7][21]. - Net cash provided by operating activities during Q3 2025 was $28 million, with free cash flow reported at $9 million [7][32][33]. Order Backlog - Seadrill's order backlog as of November 5, 2025, was approximately $2.5 billion, reflecting the company's strong position in securing contracts [9][11].

Financial Data and Key Metrics Changes - The reported adjusted EBITDA for the third quarter was $1.275 billion, representing a 19% increase year-over-year and a 10% sequential increase [18] - Full year 2025 adjusted EBITDA is now estimated to be around the top end of the $4.65 billion to $4.85 billion range [18] - Available liquidity at the end of the third quarter was $2.3 billion, with a pro forma consolidated leverage ratio of approximately 3.6 times [18] Business Line Data and Key Metrics Changes - Permian natural gas inlet volumes averaged a record 6.6 billion cubic feet per day in the third quarter, an 11% increase year-over-year [11] - NGL volumes increased by about 180,000 barrels per day compared to the previous year [6] - NGL pipeline transportation volumes averaged a record 1.02 million barrels per day, and fractionation volumes averaged 1.13 million barrels per day [14][15] Market Data and Key Metrics Changes - The company experienced strong growth in both the Midland and Delaware basins, with a noted increase in Delaware activity [92] - The company expects at least 10% growth in Permian volumes for 2025, with strong low double-digit growth anticipated for 2026 [11] Company Strategy and Development Direction - The company announced several new growth projects, including the Speedway NGL transportation expansion and the Yeti gas processing plant [7] - The strategy focuses on executing large capital projects while investing in high-return projects to transform into a large investment-grade integrated NGL infrastructure company [9] - The company aims to grow adjusted EBITDA, increase common dividends per share, and generate significant free cash flow while maintaining a strong balance sheet [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued Permian volume growth driven by customer success and industry trends [7] - The company is well-positioned to manage potential headwinds from low commodity prices and maintenance on natural gas pipes [51] - Management noted that the expected increase in free cash flow will be durable, even in a strong growth environment [9] Other Important Information - The company plans to recommend an increase in the annual common dividend to $5 per share, a 25% increase from the previous level [19] - The company repurchased $156 million in common shares during the third quarter, totaling $642 million year-to-date [19] Q&A Session Summary Question: How have things unfolded versus original expectations? - Management indicated that volumes have largely materialized consistent with or better than expectations, driven by producer performance and some volatility providing additional marketing opportunities [24] Question: What is the outlook for growth in the Permian? - Management expressed confidence in continued growth, supported by bottom-up forecasts from producers and a strong commercial team [27] Question: Can you discuss operational leverage and future expansions? - Management noted that downstream spending will be modest after major projects come online, with a focus on rateable fracs as volumes grow [36] Question: What is the rationale behind recent project announcements? - Management emphasized a capital-efficient approach, leveraging existing volumes and ensuring operational flexibility for producers [44] Question: How do you view the competitive landscape in the Permian? - Management acknowledged the competitive nature but highlighted their unique assets and strong commercial relationships as key advantages [106]

Financial Data and Key Metrics Changes - Targa Resources reported adjusted EBITDA for Q3 2025 at $1.275 billion, representing a 19% increase year-over-year and a 10% sequential increase [18] - The company expects full-year 2025 adjusted EBITDA to be around the top end of the guidance range of $4.65 billion to $4.85 billion [18] - Available liquidity at the end of Q3 was $2.3 billion, with a pro forma consolidated leverage ratio of approximately 3.6x, within the long-term target range of 3x-4x [18] Business Line Data and Key Metrics Changes - Permian natural gas inlet volumes averaged a record 6.6 billion cubic feet per day in Q3, an 11% increase year-over-year [11] - NGL volumes increased by about 180,000 barrels per day compared to the previous year, driven by growth in the Permian [6] - NGL pipeline transportation volumes averaged a record 1.02 million barrels per day, and fractionation volumes averaged 1.13 million barrels per day in Q3 [14][15] Market Data and Key Metrics Changes - The company noted that October volumes were impacted by producer shut-ins due to low commodity prices and storms, but these volumes have largely returned [11] - The outlook for NGL supply growth remains strong, supported by ongoing projects and expansions in the Permian [15] Company Strategy and Development Direction - Targa Resources is focused on executing large capital projects while investing in high-return projects to transform into a large investment-grade integrated NGL infrastructure company [9] - The company announced several new growth projects, including the Speedway NGL transportation expansion and the Yeti gas processing plant, to accommodate continued volume growth [7] - The strategy emphasizes maintaining a strong investment-grade balance sheet while increasing common dividends and reducing share count [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued Permian volume growth, supported by customer success and a favorable industry trend of rising gas-to-oil ratios [8] - The company anticipates a durable increase in free cash flow, even in a strong growth environment [9] - Management acknowledged some conservatism in Q4 guidance due to potential headwinds from maintenance and commodity price fluctuations [51] Other Important Information - Targa plans to recommend an increase in the annual common dividend to $5 per share, a 25% increase from the previous level, effective Q1 2026 [19] - The company repurchased $156 million in common shares during Q3, bringing year-to-date repurchases to $642 million [18] Q&A Session Summary Question: How have things unfolded versus original expectations? - Management noted that volumes have largely materialized consistent with or better than initial forecasts, driven by producer performance and some volatility providing additional marketing opportunities [24] Question: What is the outlook for growth in the Permian? - Management expressed confidence in continued growth, supported by bottom-up forecasts from producers and a strong commercial position [27] Question: Can you discuss operational leverage and future expansions? - Management indicated that downstream spending will be modest post-2027, focusing on rateable fracs as projects come online [34] Question: What is the rationale behind recent project announcements? - Management emphasized a capital-efficient approach, leveraging existing volumes and ensuring operational reliability for producers [42] Question: How do you view the competitive landscape in the Permian? - Management acknowledged ongoing competition but highlighted Targa's unique capabilities and strong commercial relationships as key advantages [105]

Financial Data and Key Metrics Changes - Targa Resources reported adjusted EBITDA for Q3 2025 at $1.275 billion, representing a 19% increase year-over-year and a 10% sequential increase [16] - The company expects full-year 2025 adjusted EBITDA to be around the top end of the guidance range of $4.65 billion to $4.85 billion [16] - At the end of Q3, Targa had $2.3 billion of available liquidity and a pro forma consolidated leverage ratio of approximately 3.6 times, within the long-term target range of three to four times [16] Business Line Data and Key Metrics Changes - Permian natural gas inlet volumes averaged a record 6.6 billion cubic feet per day in Q3, an 11% increase year-over-year [9] - NGL volumes increased by approximately 180,000 barrels per day compared to the previous year, driven by growth in the Permian [4] - NGL pipeline transportation volumes averaged a record 1.02 million barrels per day, and fractionation volumes averaged 1.13 million barrels per day in Q3 [11][12] Market Data and Key Metrics Changes - The company noted that October volumes were impacted by producer shut-ins due to low commodity prices and storms, but these volumes have largely returned [9] - The outlook for NGL supply growth in Targa's system remains strong, supported by ongoing projects and expansions [12] Company Strategy and Development Direction - Targa is focused on executing large capital projects while investing in high-return projects to transform into a large investment-grade integrated NGL infrastructure company [7] - The company announced several new growth projects, including the Speedway NGL transportation expansion and the Yeti gas processing plant [5] - Targa aims to grow adjusted EBITDA, increase common dividends per share, reduce share count, and generate significant free cash flow while maintaining a strong investment-grade balance sheet [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued Permian volume growth, supported by customer forecasts and commercial success [6] - The company anticipates a durable increase in free cash flow, even in a strong growth environment [7] - Management acknowledged some conservatism in Q4 guidance due to potential headwinds from shut-ins and maintenance on natural gas pipes [50] Other Important Information - Targa plans to recommend an increase in the annual common dividend to $5 per share, a 25% increase from the previous level [16] - The company repurchased $156 million in common shares during Q3, bringing year-to-date repurchases to $642 million [16] Q&A Session Summary Question: How have things unfolded versus original expectations for 2025? - Management indicated that volumes have largely materialized consistent with or better than initial forecasts, driving record Permian NGL transportation and fractionation volumes [22] Question: What is the medium-term outlook for growth in the Permian? - Management expressed confidence in continued growth based on producer forecasts and the company's strong position in the market [25] Question: Why invest in infrastructure now instead of leveraging third-party NGL infrastructure? - Management emphasized the importance of being capital-efficient and de-risking investments by ensuring flowing volumes before new projects come online [44] Question: What are the anticipated bottlenecks in the Permian? - Management noted that residue takeaway is currently tight, but new pipelines coming online in late 2026 will alleviate some of these issues [45] Question: How does the company view the competitive landscape in the Permian? - Management acknowledged the competitive nature of the market but highlighted Targa's strong operational capabilities and established relationships with producers [102]

Group 1 - The article discusses the analysis of oil and gas companies, specifically focusing on Crescent Energy and similar firms, highlighting the search for undervalued companies in the sector [1] - The author emphasizes the cyclical nature of the oil and gas industry, which requires patience and experience for successful investment [2] - The investing group, Oil & Gas Value Research, aims to identify under-followed oil companies and out-of-favor midstream companies that present attractive investment opportunities [2] Group 2 - The article mentions that the investing group includes an active chat room for discussions among oil and gas investors, facilitating the sharing of recent information and ideas [2] - The author has a beneficial long position in Crescent Energy shares, indicating a personal investment interest in the company [3] - The article does not provide specific investment recommendations but encourages investors to review company documents and press releases for their own investment qualifications [4]