Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, June 18, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Civitas Resources, Inc. ("Civitas Resources" or the "Company") (NYSE: CIVI) investors of a class action representing investors that bought securities between February 27, 2024 and February 24, 2025, inclusive (the "Class Period"). Civitas Resources investors have until July 1, 2025 to file a lead plaintiff motion. Investors are encouraged to co ...

Core Insights - Ring Energy, Inc. has affirmed its borrowing base at $585 million under its $1.0 billion senior secured credit facility, with the term extended to June 2029 and Bank of America appointed as the new Administrative Agent [1][2]. Financial Highlights - The company has focused on strengthening its balance sheet and improving asset quality, maintaining a sufficient borrowing base despite slight reductions from the previous year due to oil and gas price volatility in 2025 [2]. - The company aims to generate free cash flow through cost reductions, divestitures of non-core assets, and acquisitions of high-margin, low-break-even assets, using excess cash to reduce debt and enhance shareholder value [2]. Banking Relationships - Ring Energy has expanded its banking relationships by adding Citibank, N.A. to its syndicate, which now includes a total of 11 banks, including Bank of America, N.A. and Goldman Sachs Lending Partners, LLC [2][5]. Credit Facility Details - The company entered into a Third Amended and Restated Credit Agreement with a borrowing base of $585 million, reflecting a 25 basis point reduction in the Applicable Margin pricing grid [5]. - The next regularly scheduled bank redetermination is set to occur in the fall of 2025 [5]. Company Overview - Ring Energy, Inc. is engaged in oil and gas exploration, development, and production, with a focus on developing its assets in the Permian Basin [3].

Key Takeaways PAA is selling most of its Canadian NGL business to Keyera for about $3.75 billion. The deal boosts PAA's crude oil focus while reducing exposure to commodity volatility. PAA expects nearly $3 billion in net proceeds post-tax, aiding buybacks and strategic acquisitions.Plains All American Pipeline, L.P. (PAA) and Plains GP Holdings (PAGP) , (collectively, Plains) have entered into a definitive agreement to sell the majority of their Canadian Natural Gas Liquids (“NGL”) business to Keyera Cor ...

Core Insights - Hess Corporation (HES) shares have increased by 13% over the past six months, outperforming the oil-energy sector and the Zacks S&P 500 composite, which grew by 4.7% and 1.5% respectively. The company's market capitalization stands at $44 billion [1] - The company is currently trading above its 50-day simple moving average (SMA), indicating a bullish trend [2] - Hess's disciplined cost control has led to a 6.4% sequential increase in upstream income to $563 million, despite weaker oil prices and volumes [5][8] - The Yellowtail project in Guyana is on track for startup in Q3 2025, with an expected initial production capacity of 250,000 barrels of oil per day [7] - The average price target for Hess shares is $160.97, suggesting a potential upside of 13.56% from the last closing price [11] Financial Performance - Adjusted net income for Hess's exploration and production (E&P) segment rose 6.4% sequentially to $563 million in Q1 2025, despite lower oil prices and reduced sales volumes [8] - Cash operating costs were reported at $12.27 per barrel of oil equivalent (Boe), and depreciation, depletion, and amortization (DD&A) costs were $13.25/Boe, both within manageable ranges [9] - Capital and exploratory expenditure increased to $1.09 billion in Q1 2025 from $927 million a year earlier, with over half directed towards high-return projects in Guyana [10] Strategic Focus - Hess's investment strategy emphasizes high-return assets, particularly in offshore Guyana, with major developments like Uaru, Yellowtail, and Whiptail expected to drive long-term production and cash flow growth [10] - The company has a strong earnings surprise history, surpassing earnings estimates in the last four quarters with an average surprise of 9.58% [14]

Industry Overview - The Zacks Oil and Gas - Production and Pipelines industry includes companies that own and operate midstream energy infrastructure, such as extensive pipeline networks for transporting crude oil, liquids, and natural gas [3] - The industry is capital-intensive, with a debt-to-capitalization ratio of 56.8%, which can limit financial flexibility and investment capacity [4] - Companies are increasingly investing in renewable energy projects, diversifying their portfolios to generate additional cash flows alongside stable fee-based revenues from transportation assets [3] Current Challenges - Conservative capital expenditures by upstream companies may reduce the utilization of midstream assets, impacting revenue [1] - The shift towards renewable energy is expected to decrease demand for traditional pipeline and storage networks for oil and natural gas [5] - Rising regulatory burdens and compliance costs related to greenhouse gas emissions are creating operational and financial pressures on companies [7] - Oil and gas exploration companies are focusing on shareholder returns rather than production growth, which may further reduce demand for midstream services [6] Market Performance - The Zacks Oil and Gas - Production and Pipelines industry has outperformed the S&P 500 and the broader Zacks Oil - Energy sector over the past year, with a growth of 36.2% compared to 10.6% for the S&P 500 and 6.7% for the broader sector [11] Valuation Metrics - The industry is currently trading at a trailing 12-month enterprise value-to-EBITDA (EV/EBITDA) ratio of 13.93X, which is lower than the S&P 500's 16.89X but higher than the sector's 4.9X [14] Key Companies - **Transportadora de Gas del Sur SA (TGS)**: Operates the most extensive natural gas pipeline network in Latin America, generating stable fee-based revenues [18] - **Kinder Morgan, Inc. (KMI)**: Manages a vast network of pipelines and terminals, providing stable earnings through long-term contracts [20][22] - **Enbridge Inc. (ENB)**: A leading midstream player with a complex transportation network, generating stable revenues from long-term contracts [25][26] - **The Williams Companies Inc. (WMB)**: Focuses on transporting and processing natural gas, well-positioned to meet the demand for clean energy [29][30]

Oslo, 18 June 2025 Interoil published its Annual Report 2024 on 13 June 2025. The ESEF file which was attached then did not include the Independent Auditor’s Report. The correct and complete ESEF file is attached hereto. For ease of reference and for completeness, the original Annual Report 2024 which was published on 13 June is also included here. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments INTEROIL ANNUAL REPORT 2 ...

Core Insights - Chevron Corporation (CVX) and ConocoPhillips (COP) are major players in the U.S. energy sector, each with distinct strategies in dividend policies, capital discipline, and project exposure [1][2] Chevron Corporation (CVX) - **Dividend Yield and Defensive Appeal**: Chevron offers a 4.6% dividend yield, supported by 38 consecutive years of dividend growth. In Q1 2025, Chevron returned $6.9 billion to shareholders, balancing $3 billion in dividends with $3.9 billion in buybacks [4] - **Production Growth**: Chevron aims for 6-8% production growth in 2025, driven by projects in Kazakhstan, the Gulf of Mexico, and the Permian Basin. The Tengiz project has recently achieved a significant production milestone [5] - **Cost Discipline and Efficiency Focus**: Chevron anticipates $2 billion in structural cost savings in 2025, with an additional $2-3 billion in efficiencies expected in 2026, enhancing capital efficiency and free cash flow [6] - **Global Asset Upside**: The acquisition of Hess will provide Chevron access to the Stabroek Block in Guyana, which contains over 11 billion barrels of recoverable reserves, potentially boosting cash flow by $10 billion by 2026 [7] ConocoPhillips (COP) - **Marathon Deal Unlocks Scale and Efficiency**: ConocoPhillips' $22.5 billion acquisition of Marathon Oil has increased its scale and diversification, with Q1 2025 production reaching 2.389 million BOE/D and earnings rising despite lower commodity prices [8] - **Global LNG and Alaska Investments**: Strategic investments in LNG and Alaska are expected to generate multi-billion-dollar free cash flows post-2027, providing stable earnings streams [10] - **Cash Flow Strength and Shareholder Returns**: In Q1 2025, ConocoPhillips reported $5.5 billion in cash from operations, a 23% year-over-year increase, returning $2.5 billion to shareholders through dividends and buybacks [11] - **Diversified Asset Base**: ConocoPhillips has a diversified portfolio across short-cycle and long-cycle assets, reducing dependence on any single basin or commodity trend [12] Price Performance and Valuation - **Price Performance**: Over the past year, Chevron's stock declined approximately 3%, while ConocoPhillips fell around 13%, with Chevron's defensive income profile helping it withstand sector volatility [13] - **Valuation Comparison**: Chevron trades at a forward P/E of over 19X, while ConocoPhillips trades at 16X, suggesting potential upside for COP if operational momentum continues [15] - **EPS Estimates**: Chevron's earnings are expected to fall 32% this year but rebound by 27% in 2026, while ConocoPhillips is projected to see a smaller 20% decline this year [16][19] Conclusion - Both Chevron and ConocoPhillips are rated a Zacks Rank 3 (Hold), with Chevron excelling in income generation and operational efficiency, while ConocoPhillips offers stronger valuation upside and long-term growth potential through LNG and Alaska [20]

Key Takeaways XOM awards EnerMech a key contract to decommission the Hoover-Diana deepwater development. The project includes subsea flushing, pigging, and coiled tubing to retire aging infrastructure. This marks the first large Gulf decom job for EnerMech, boosting its presence in a growing U.S. market.Exxon Mobil Corporation (XOM) has awarded a major deepwater decommissioning contract to integrated energy services provider EnerMech for its 25-year-old Hoover-Diana development in the U.S. Gulf of Mexico, ...

Ensign Energy Services (TSX: ESI:CA ) ( OTCPK:ESVIF ) is a service provider to the oil and natural gas sector in [predominantly] the USA and Canada, where about 85% of its land drilling rigs are located. Additionally, the company also owns specialty coring rigsHe is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable research on appealing Europe-focused investment opportunities not found elsewhere. The a focus is on high-quality ideas in the small-cap spac ...

Industry Overview - The Zacks Oil and Gas - Drilling industry includes companies providing rigs and services for oil and natural gas exploration and development, with operations both onshore and offshore [2] - Drilling for hydrocarbons is capital-intensive and technically challenging, primarily influenced by contracting activity rather than oil or gas prices [2] - Offshore drilling companies exhibit higher volatility compared to onshore counterparts, with their share prices more closely correlated to oil and gas prices [2] Current Challenges - The industry is facing significant challenges due to contracting delays, soft gas prices, and macroeconomic uncertainty, leading to a Zacks Industry Rank of 235, placing it in the bottom 4% of 245 Zacks industries [1][7] - Earnings estimates for the industry have declined sharply, with a drop of 85.2% for 2025 and 51.7% for 2026 over the past year, indicating a negative outlook [9] - The industry has underperformed compared to the broader Zacks Oil - Energy sector and the S&P 500, with a decline of 38.6% over the past year versus a 2.1% increase in the sector and a 9.1% gain in the S&P 500 [11] Market Trends - Macroeconomic uncertainty is causing hesitation in customer decision-making, slowing the pace of tenders and contract awards, and making near-term earnings visibility difficult for drillers [3] - There are concerns about premature rig reactivation leading to oversupply, particularly in deepwater segments, which could undermine pricing power and margins [4] - Despite short-term challenges, long-term demand for deepwater drilling is expected to grow, with forecasts indicating a 40% increase in investment by 2030, supported by large undeveloped reserves and major project approvals [5] Company Highlights - **Transocean Ltd. (RIG)**: Reported contract drilling revenues of $906 million in Q1 2025, an 18.7% increase year-over-year, with a market capitalization of $2.9 billion and a projected earnings growth of 123.1% for 2025 [18] - **Patterson-UTI Energy (PTEN)**: Generated $51 million in adjusted free cash flow in Q1 2025, with a market capitalization of $2.5 billion and a dividend yield of nearly 5% [21] - **Precision Drilling Corporation (PDS)**: Canada’s largest drilling rig contractor, with a market capitalization of $687.3 million, has seen its earnings estimate for 2025 increase from $3.84 to $4.13 per share in the past 60 days [24]