Shares of Ormat Technologies Inc. (ORA) rose 2.5% to $74.11 on May 8, following the company’s first-quarter 2025 results.Ormat reported first-quarter 2025 adjusted earnings per share of 68 cents, which beat the Zacks Consensus Estimate of 58 cents by 17.2%. The bottom line also increased 4.6% from 65 cents in the year-ago quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.)The company reported GAAP earnings of 66 cents compared with 64 cents in the year-ago quarter.ORA’s Total Rev ...

Opal Fuels (OPAL) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants Todd Firestone - Vice President of Investor Relations & Corporate DevelopmentAdam Comora - Co-Chief Executive OfficerJonathan Maurer - Co-Chief Executive OfficerKazi Hasan - CFODerrick Whitfield - Managing DirectorMatthew Blair - Managing DirectorMarty Malloy - Director of ResearchAdam Bubes - VP - Equity ResearchBetty Zhang - Associate Director - Equity ResearchCraig Shere - Director of Research Operator Good day and than ...

Financial Data and Key Metrics Changes - BKV reported a net loss of $79 million or a loss of $0.93 per diluted share for Q1 2025, while adjusted net income was $35 million or a positive $0.41 per diluted share [30] - Combined adjusted EBITDAX was just over $100 million, with $90 million from upstream operations and $10 million from the power segment [29] - Cash and cash equivalents at the end of Q1 were approximately $15 million, with net leverage standing at less than 0.7 times net debt to adjusted EBITDAX [32] Business Line Data and Key Metrics Changes - The upstream business produced 761 million cubic feet equivalent per day, exceeding guidance, with development CapEx at $48 million, 26% below the midpoint of guidance [15][16] - Power joint venture adjusted EBITDA was $20 million, with BKV's share at $10 million, driven by higher pricing due to cold weather [27] - The carbon capture business is on track with significant milestones, including a partnership with Comstock Resources and a $500 million investment commitment from Copenhagen Infrastructure Partners [11][12] Market Data and Key Metrics Changes - ERCOT revised its 2031 load forecast higher by 68 gigawatts, a 45% increase from 2024 projections, primarily driven by data centers [26] - The demand for low carbon gas is expected to grow, supported by decarbonization efforts and the increasing need for power driven by cloud computing and AI [4][5] Company Strategy and Development Direction - BKV is focused on vertical integration across its four business lines: upstream, midstream, carbon capture, and power generation, aiming to create premium margins and differentiated products [5] - The company is leveraging its position in the Barnett Shale, which has over 15 years of inventory and is strategically located near LNG export markets and data centers [8][15] - BKV aims to deliver decarbonized energy solutions and capitalize on the growing demand for carbon capture and storage [12][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the robustness of the 45Q tax credit and the bipartisan support for carbon capture initiatives [45] - Despite macroeconomic headwinds, BKV's proactive supply chain management is expected to minimize disruptions and cost impacts [5] - The company anticipates a ramp-up in production in the second half of 2025, with natural gas pricing remaining elevated [18] Other Important Information - BKV's CCUS strategy is validated by recent partnerships and project advancements, with a goal of achieving a 1 million ton per year CO2 injection rate by the end of 2027 [23][60] - The company has a disciplined capital investment framework, with expectations for total CapEx in Q2 2025 between $75 million and $100 million [31] Q&A Session Summary Question: Thoughts on the resiliency of the 45Q tax credit and momentum in CCUS projects - Management believes the 45Q tax credit is robust and enjoys bipartisan support, which is critical for energy competitiveness in the U.S. [45][46] - There is strong momentum in carbon capture, particularly in natural gas processing, with several projects in the pipeline [49] Question: Clarification on CapEx for CCUS and project timing - Management indicated that while the overall CapEx for CCUS remains robust, the timing may shift as they optimize capital spending with their JV partner [58][60] Question: Upstream production growth inclination - Management remains committed to disciplined capital investment, with a focus on commodity price ranges, and anticipates production growth in the latter half of 2025 [65][66] Question: Details on the Comstock partnership and project development - Management explained that the partnership with Comstock will follow a phased approach, capturing CO2 from their plants as production grows [73] Question: Macroeconomic conditions affecting the power segment - Management highlighted inflation in construction costs and bullish sentiment for data center investments as key factors influencing the power business [75][77] Question: Funding mechanisms for the new JV with CIP - Management confirmed that there is an upfront capital component to the JV, which will be drawn down as projects are deployed over the next 12 to 24 months [84]

BKV (BKV) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Company Participants David Tameron - CFOChris Kalnin - CEOEric Jacobsen - President - UpStreamScott Gruber - Director - Oilfield Services & Equipment ResearchJake Roberts - Director - E&P Research Conference Call Participants Tim Rezvan - Managing Director & Equity Research AnalystBetty Jiang - Senior Equity Research Analyst - US Integrated Oil and E&Ps David Tameron Good morning, everyone, and thank you for joining BKV Corporation's First Quarter twe ...

Financial Data and Key Metrics Changes - BKV reported a net loss of $79 million or a loss of $0.93 per diluted share for Q1 2025, while adjusted net income was $35 million or a positive $0.41 per diluted share after removing unrealized derivative losses [27] - Combined adjusted EBITDAX was just over $100 million, with $90 million from upstream operations and $10 million from the Power joint venture [26][30] - Accrued capital expenditures for the quarter were $58 million, significantly below the low end of the guidance range of $75 million [27] Business Line Data and Key Metrics Changes - The upstream business produced 761 million cubic feet equivalent per day, exceeding the midpoint of guidance, with development CapEx spending at $48 million, 26% below the midpoint of the guided range [13][14] - The Power joint venture's adjusted EBITDA was $20 million for the quarter, with BKV's implied 50% share being $10 million, driven by higher pricing due to cold weather [24] - The carbon capture business is on track with significant milestones, including a partnership with Comstock Resources and a $500 million investment commitment from Copenhagen Infrastructure Partners [10][11][20] Market Data and Key Metrics Changes - ERCOT revised its 2031 load forecast higher by 68 gigawatts, a 45% increase from 2024 projections, primarily driven by data centers [23] - Power prices averaged $54.52 per megawatt hour, with an average realized spark spread of $25.39 per megawatt hour [25] Company Strategy and Development Direction - BKV is focused on vertical integration across its four business lines: upstream, midstream, carbon capture, and power generation, aiming to create premium margins and differentiated products [5] - The company is leveraging its position in the Barnett Shale, which is experiencing a renaissance, to optimize capital expenditures and enhance operational efficiencies [12][13] - BKV aims to capitalize on the growing demand for decarbonized energy solutions, particularly in the context of data centers and the broader energy transition [11][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the robustness of the 45Q tax credit and the bipartisan support for carbon capture initiatives, which are expected to drive growth in the CCUS sector [4][43] - The company anticipates continued strong demand for natural gas and power, particularly in Texas, driven by economic development and the expansion of data centers [8][23] - Management remains cautious about macroeconomic headwinds, including inflation and potential tariffs, but believes in the resilience of its business model [5][30] Other Important Information - BKV's cash and cash equivalents at the end of Q1 were approximately $15 million, with a net leverage ratio of less than 0.7 times [28] - The company has a strong balance sheet and increased its borrowing base to $850 million, reflecting confidence in its financial position [29] Q&A Session Summary Question: Thoughts on the resiliency of the 45Q tax credit and momentum behind CCUS projects - Management believes the 45Q tax credit is robust and enjoys bipartisan support, which is critical for energy competitiveness in the U.S. [43][44] - There is strong momentum in carbon capture, particularly for natural gas processing projects, with BKV positioned as a leader in this space [45][46] Question: CapEx for CCUS and potential changes - Management indicated that while the internal CapEx for CCUS remains unchanged, the timing may shift as they optimize capital spending with their new JV partner [54][55] Question: Upstream production growth inclination - Management reiterated a disciplined approach to capital investment, with a commitment to 2% to 3% growth in production by Q4 2025 compared to Q4 2024, while monitoring macroeconomic conditions [60][62] Question: Differences in project timing with Comstock - Management explained that the development of projects with Comstock will follow a phased approach, allowing for growth as Comstock increases production [68][70] Question: Funding mechanisms for the new JV with CIP - Management confirmed that there is an upfront capital component associated with the JV, which will be drawn down over the next 12 to 24 months as projects are deployed [82][83] Question: Willingness to pay a premium for decarbonized power and gas - Management noted that while not all customers are willing to pay a premium, there is a segment, particularly large tech companies, that are very interested in decarbonized energy solutions [85][86]

Montauk Renewables (MNTK) Q1 2025 Earnings Call May 09, 2025 08:30 AM ET Company Participants John Ciroli - Chief Legal Officer & SecretarySean McClain - President & CEOKevin Van Asdalan - CFOSaumya Jain - Equity Research AssociateMatthew Blair - Managing DirectorBetty Zhang - Associate Director - Equity Research Conference Call Participants Tim Moore - Managing Director, Senior Research Analyst Operator Good day, everyone, and thank you for participating in today's conference call. I'd like to turn the cal ...

Montauk Renewables (MNTK) Q1 2025 Earnings Call May 09, 2025 08:30 AM ET Speaker0 Good day, everyone, and thank you for participating in today's conference call. I'd like to turn the call over to Mr. John Ciroli as he provides some important cautions regarding forward looking statements and non GAAP financial measures contained in the earnings materials or made on this call. John, please go ahead. Speaker1 Thank you, and good day, everyone. Welcome to Montauk Renewables earnings conference call to review th ...

Corporation May 9, 2025 BKV Important Notice and Disclaimer | About BKV | | --- | | Quarterly Highlights | | Business Units Overview: Upstream & Midstream | | Business Units Overview: CCUS | | Business Units Overview: Power | Financial Overview Appendix 2 Important Notice and Disclaimer 3 About BKV BKV is an Energy Solutions Leader 4 Natural gas production location Wyoming County, Pennsylvania 5 • • • • • BKV Delivers Value Beyond the Sum of Its Parts | ⚫ | | --- | | ⚫ | | ⚫ | | ⚫ | ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫⚫ 6 BKV ...

TULSA, Okla., May 8, 2025 /PRNewswire/ -- ONE Gas, Inc. ("ONE Gas") (NYSE: OGS) announced today that it has priced its public offering of 2,500,000 shares of its common stock for approximate gross proceeds of $197,500,000 (before offering expenses and underwriting discounts and commissions, assuming the underwriter does not exercise its option to purchase additional shares and upon, and assuming, full physical settlement of the forward sale agreement). In connection with the offering, ONE Gas entered into a ...

Granite Ridge Resources, Inc. (GRNT) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10%. A quarter ago, it was expected that this company would post earnings of $0.14 per share when it actually produced earnings of $0.17, delivering a surprise of 21.43%.Over the last four quarters, t ...