26 August 2025 | 8:18PM EDT Oil Analyst Stress Testing Our Price Forecast Amidst Stable OECD Stocks Yulia Zhestkova Grigsby +1(646)446-3905 | yulia.grigsby@gs.com Goldman Sachs & Co. LLC Daan Struyven +1(212)357-4172 | daan.struyven@gs.com Goldman Sachs & Co. LLC Alexandra Paulus +1(212)902-7111 | alexandra.paulus@gs.com Goldman Sachs & Co. LLC Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the ...

2025 Half Year Results 27 August 2025 For personal use only Disclaimer This presentation has been prepared by Karoon Energy Ltd (Karoon or the Company). The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. This presentation contains summary information about the Company and its activities that is current as at the date of this presentation and remains subject to change without n ...

But what does all of this mean for the oil and gas stocks. Well, your next guest is bullish on parts of the oil business and today he's calling 10 different exploration and production companies as outperforms. Joining us now to talk about it, Neil Dingman.He is energy analyst at William Blair. Neil, great to have you on the program. I love your names because these are not the chevrons and Exxons of the world. These are the Diamondbacks. These are the Vipers.These are the Perian Resources. uh kind of the mor ...

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to perform their own research and consider their financial situation before making decisions [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to understand how these instruments work and the associated risks before investing [1].

Shares of PrimeEnergy Resources Corporation (PNRG) have declined 1.7% since reporting results for the second quarter of 2025. This compares with the S&P 500 index’s 0.9% rise over the same time frame. Over the past month, the stock has declined 17.2% against the S&P 500’s 1.5% growth.Earnings & Revenue PerformancePrimeEnergy posted revenues of $42 million for the second quarter of 2025, down 35% from $64.8 million in the same quarter last year. Net income dropped to $3.2 million from $19.7 million a year ag ...

Granite Ridge Resources (GRNT) FY Conference Summary Company Overview - Granite Ridge Resources is positioned as a leading public investment platform for U.S. energy development, focusing on disciplined capital allocation and shareholder value creation [3][5][45] - The company operates with a diversified asset base across six premier basins, with a significant concentration in the Permian Basin, which accounts for nearly two-thirds of its production [7][8] Core Strategies - The investment strategy includes partnerships with proven management teams to capture undervalued opportunities, targeting a greater than 25% full cycle return on investments [5][17] - Granite Ridge employs two main strategies: operated partnerships for control and growth, and traditional non-operated interests for diversification and cash flow [22][39] Financial Performance - Production growth of 28% year-over-year, with a raised full-year production guidance by 10% after the second quarter earnings [9][42] - The company maintains a strong balance sheet with a leverage ratio of 0.8x net debt to trailing twelve months EBITDAX, underlevered compared to peers [10][56] - Current fixed dividend yield is approximately 8% to 9%, with the company trading at about 2.6x this year's EBITDA [11][41] Market Dynamics - U.S. shale activity has significantly decreased since February 2022, with rig counts down 30% and frac spreads down 45% compared to pre-COVID levels, leading to stalled supply growth [13][16] - Rising reinvestment rates and declining well productivity indicate a deteriorating asset base industry-wide, suggesting an undersupplied market and potential for higher commodity prices [14][15][16] Investment Opportunities - Granite Ridge is capitalizing on the current market environment by focusing on short cycle developments with clear returns, while others in the industry are contracting [17][36] - The company has screened over 650 transactions in the past year, indicating a robust business development pipeline [19][42] Recent Developments - New partnerships with Admiral Permian Resources and Petro Legacy Energy have been established, with significant capital invested and production contributions expected [33][34][36] - The company plans to close more than 50 deals in 2025, expanding its inventory by 74 net locations, which equates to approximately three years of inventory at current drilling rates [42][44] Competitive Positioning - Granite Ridge ranks in the top quartile among small-cap energy companies in terms of return on capital employed, production growth, leverage, and dividend yield [41] - The company’s unique business model differentiates it from traditional oil and gas producers, allowing it to maintain growth while managing debt conservatively [45][62] Conclusion - Granite Ridge Resources is strategically positioned to leverage current market conditions for growth, with a disciplined approach to capital allocation and a commitment to shareholder value through dividends and strong financial management [46][47]

HONG KONG, Aug. 26, 2025 /PRNewswire/ -- PetroChina Company Limited ["PetroChina" or the "Company", (HKSE: 00857; SSE: 601857)] announced that in the first half of the year, the Company proactively responded to changes in macroscopic environment, coordinated efforts to advance production and operations, technological innovation, marketing, and quality and efficiency improvement. Its oil and gas output maintained steady growth, transformation and upgrading of refining and chemical operations was further prop ...

Core Viewpoint - A new round of fuel price adjustments will take effect from August 26, with gasoline and diesel prices decreasing by 180 yuan/ton and 175 yuan/ton respectively [3]. Group 1: Price Adjustments - The highest retail prices for various fuel types are as follows: 89 gasoline at 8880 yuan/ton, 92 gasoline at 9413 yuan/ton, 95 gasoline at 9946 yuan/ton, 0 diesel at 7860 yuan/ton, and -10 diesel at 8332 yuan/ton [2]. - The average national price reductions are: 92 gasoline down by 0.14 yuan per liter, 95 gasoline down by 0.15 yuan per liter, and 0 diesel down by 0.15 yuan per liter [4]. - In Jiangsu, the price of 92 gasoline will decrease from 7.23 yuan per liter to 7.09 yuan per liter after the adjustment [5]. Group 2: Market Trends - The demand for oil is expected to gradually decline as the summer driving season comes to an end, coupled with increased production from OPEC+ and rising U.S. crude oil output, leading to a continued oversupply in the global oil market [6]. - Short-term geopolitical uncertainties are anticipated to increase volatility in oil prices [6].

Summary of Diversified Energy Company (DEC) FY Conference Call Company Overview - **Company Name**: Diversified Energy Company (DEC) - **Ticker**: DEC - **Market Capitalization**: Approximately $1.3 billion [4] - **Enterprise Value**: Approximately $3.6 billion [4] - **Production**: Approximately 1.2 Bcfe per day of natural gas, equivalent to just under 200 MBOEs daily [5] Core Business Model - Focus on optimizing free cash flow through strategic acquisitions [6] - Operates mature producing assets rather than developing new ones [7] - Significant growth in the Central region (Oklahoma, Texas, Louisiana) with 65% of production from this area [8] - Recent acquisition of Maverick Natural Resources for $1.3 billion, enhancing scale in Oklahoma and entry into the Permian Basin [9] Financial Performance - Achieved over 310% increase in adjusted EBITDA over the past five years [17] - Second quarter production was approximately 1,150 MMcfe per day [17] - Free cash flow generation and steady growth in revenue and adjusted EBITDA [17] - Repurchased approximately $43 million of shares, about 4% of shares outstanding [18] Capital Allocation Strategy - Balanced capital allocation strategy focusing on debt reduction, shareholder returns, and accretive acquisitions [18] - Returned over $2 billion to shareholders through dividends, repurchases, and debt repayments over the past seven years [20] - Guidance for free cash flow generation this year is $420 million, with dividends fixed at $1.01 per share [46] Risk Management - High degree of hedging in commodity prices, approximately 80-85% hedged in the near term [12] - Focus on reducing environmental risks, achieving a 99.5% leak-free status [15][16] - Corporate decline rate is just under 10%, with strategies in place to mitigate this through acquisitions and partnerships [36] Strategic Partnerships - Partnership with The Carlyle Group, which has ring-fenced approximately $2 billion for acquisitions [22] - Carlyle provides both debt and equity financing, allowing DEC to grow its asset base without consolidating debt on its balance sheet [57] Industry Trends and Opportunities - Participation in the growing demand for natural gas, particularly in data centers and LNG markets [24][25] - Incremental revenue generation from capturing coal mine methane, yielding higher prices due to environmental credits [41] - Focus on optimizing existing assets through smarter asset management practices [30] Conclusion - Diversified Energy Company positions itself as a leader in acquiring and optimizing mature producing assets, with a strong focus on cash flow generation and shareholder returns. The strategic partnerships and risk management practices further enhance its growth potential in the evolving energy landscape.

Key Takeaways Crescent Energy is acquiring Vital Energy in a $3.1B all-stock transaction, including debt.CRGY expects $90-$100M in annual synergies and aims for stronger shareholder returns.CRGY will consolidate assets across Eagle Ford, Permian, and Uinta Basins with 10+ years of inventory.Crescent Energy Company (CRGY) , an independent oil and gas company, announced that it has entered into an agreement to acquire Vital Energy, Inc. (VTLE) in an all-stock transaction valued at $3.1 billion, including Vita ...