Group 1 - ConocoPhillips' subsidiary, ConocoPhillips Australia, has completed seabed surveys in the Otway Basin, preparing for an exploration program [1][2] - The drilling campaign is set to begin in Q3 2025 using the Transocean Equinox semi-submersible rig, with data collected to inform safety and environmental planning [2] - The Korea National Oil Corporation has joined the Otway gas hunt alongside ConocoPhillips Australia and 3D Energi, with active permits located near existing gas-producing fields [3] Group 2 - ConocoPhillips Australia currently holds an 80% stake in the project, which will be reduced to 51% under a pending farm-down agreement, with KNOC acquiring a 29% share [4] - The exploration drilling aims to identify natural gas reserves to support Australia's domestic energy market, emphasizing the importance of natural gas for electricity generation and heating [5] - The company has a long history of natural gas development in the region, which is crucial for meeting Australia's future energy needs, and has implemented strong environmental mitigation measures [6] Group 3 - ConocoPhillips is reshaping its global portfolio while advancing its Australian drilling plans, having exited stakes in certain Shell-operated assets in the Gulf of America [7] - With the completion of seabed surveys and new partners involved, ConocoPhillips is positioned to commence a critical exploration phase in the Otway Basin, reinforcing its commitment to Australia's gas security [8]

Core Insights - Eni S.p.A. has entered exclusive negotiations with Global Infrastructure Partners to potentially sell a 49.99% co-control stake in its carbon capture, utilization, and storage subsidiary, Eni CCUS Holding [1][2] - The deal is part of Eni's strategy to accelerate investments in energy transition and unlock value from its decarbonization assets [2][5] - Eni CCUS Holding operates key carbon capture initiatives in the UK and the Netherlands, and holds future acquisition rights to the Ravenna CCS project in Italy, indicating strong market interest in CCUS [3][4] Company Strategy - The exclusivity period allows both Eni and GIP to complete due diligence and finalize transaction documentation [2] - GIP is expected to co-invest in expanding the CCUS platform, validating Eni's energy transition portfolio which includes renewable energy and low-carbon technologies [5] Project Developments - Eni has secured financing for the Liverpool Bay CCS project, which aims to capture CO2 emissions from industrial facilities in North West England and transport them for permanent storage beneath the Irish Sea [6] - Major EPC contracts have been awarded to Italian firms for the construction of CO2 compression stations and offshore platforms for long-term CO2 storage [7] Regulatory Context - Eni is among 44 oil and gas firms tasked by the EU to advance carbon storage initiatives, with a goal of injecting at least 50 million tons of CO2 annually by 2030, highlighting the urgency for CO2 storage solutions [8] - The timing of Eni's stake sale discussions reflects strong investor appetite for carbon management infrastructure as regulatory and climate ambitions intensify in Europe [8] Market Implications - Eni's potential partnership with GIP could serve as a model for legacy energy companies to monetize transition-related assets while leveraging external capital to scale their decarbonization efforts across Europe [9]

Equinor ASA (EQNR) , the Norwegian energy major, has obtained a key drilling permit for an exploration well in the Norwegian North Sea, signaling continued momentum in offshore energy activity. The permit, granted by the Norwegian Offshore Directorate, allows the company to drill wellbore 35/11-31 S within production license 090.The drilling operation will be carried out using the COSL Innovator, a semi-submersible rig operated by COSL Drilling Europe. This unit, built in 2012, is capable of operating in wa ...

Company Overview - OMS Energy Technologies Inc. is a growth-oriented manufacturer specializing in surface wellhead systems and oil country tubular goods for the oil and gas industry [6] - The company serves both onshore and offshore exploration and production operators across six vital jurisdictions in the Asia Pacific, Middle Eastern, and North African regions [6] - OMS operates 11 strategically located manufacturing facilities to ensure rapid response times and customized technical solutions [6] Initial Public Offering (IPO) Details - OMS announced the pricing of its initial public offering of 3,703,704 ordinary shares at a public offering price of US$9.00 per share, totaling US$33.3 million [1] - The ordinary shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "OMSE" on May 13, 2025, with the offering expected to close on May 14, 2025 [2] - The underwriter has a 45-day option to purchase up to 555,555 additional ordinary shares at the public offering price [2] Financial Advisory and Regulatory Information - Roth Capital Partners acted as the sole manager for the offering, while Joseph Gunnar & Co., LLC served as the financial advisor [3] - A registration statement related to the securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on April 28, 2025 [3]

Volumes in this segment also saw a healthy 8.1% year-over-year increase to 2,808 mboe/d. Pembina Pipeline Corporation (PBA) reported first-quarter 2025 earnings per share of 56 cents, which missed the Zacks Consensus Estimate of 57 cents. This underperformance was primarily due to weak delivery in the company's Facilities segment. PBA's Facilities volume for the same period was 619 thousand barrels of oil equivalent per day (mboe/d), missing the consensus expectation of 622 mboe/d. However, the bottom line ...

Financial Performance - Cheniere Energy reported a first-quarter 2025 adjusted profit of $1.57 per share, missing the Zacks Consensus Estimate of $2.81 and down from $2.13 per share in the year-ago quarter, attributed to increased operating costs and expenses [1] - Revenues totaled $5.4 billion, exceeding the Zacks Consensus Estimate of $4.4 billion and increasing by 28% from $4.3 billion in the prior year, driven by strong LNG shipments [2] - Consolidated adjusted EBITDA was $1.9 billion, up about 5.6% from the previous year, supported by higher total margins per metric million British thermal units of LNG delivered [5] Capital Allocation and Shareholder Returns - The company allocated over $1.3 billion in the first quarter of 2025 towards growth initiatives, strengthening its balance sheet, and returning value to shareholders [3] - Approximately 1.6 million shares of common stock were repurchased for around $350 million, and $300 million in consolidated long-term debt was repaid [3] - The quarterly dividend of 50 cents per share is scheduled to be paid on May 19, 2025 [3] Operational Highlights - Cheniere loaded 608 trillion British thermal units (TBtu) of LNG during the quarter, surpassing the consensus mark of 586 TBtu [2] - Distributable cash flow (DCF) was reported at $1.3 billion, with 168 cargoes shipped compared to 166 in the year-ago period [6] Cost and Balance Sheet - Total costs and expenses amounted to $4.5 billion for the first quarter, reflecting a 44.7% increase from the prior-year quarter [6] - As of March 31, 2025, Cheniere had approximately $2.5 billion in cash and cash equivalents, with net long-term debt of $22.5 billion and a debt-to-capitalization ratio of 69.1% [7] Project Developments - The first train of the CCL Stage 3 Project achieved substantial completion in March 2025, with the project being 82.5% complete as of the same date [4][14] - The CCL Midscale Trains 8 & 9 Project received authorization from the Federal Energy Regulatory Commission to site, construct, and operate the project [4][16] 2025 Guidance - Cheniere expects consolidated adjusted EBITDA in the range of $6.5 billion to $7 billion for 2025, with DCF anticipated between $4.1 billion and $4.6 billion [8]

Delek US Holdings, Inc. (DK) reported a first-quarter 2025 adjusted net loss of $2.32 per share, wider than the Zacks Consensus Estimate of a loss of $2.27 and the year-ago quarter’s loss of 41 cents. This decline was mainly due to weaker year-over-year performance in the Refining segment. (See the Zacks Earnings Calendar to stay ahead of market-making news.)Net revenues decreased 18.2% year over year to $2.6 billion.  The figure also missed the Zacks Consensus Estimate by $208 million.The diversified downs ...

Core Viewpoint - Permian Resources Corporation (PR) reported a first-quarter 2025 adjusted net income per share of 42 cents, missing the Zacks Consensus Estimate of 44 cents, primarily due to increased operating expenses and lower oil prices, although the figure was consistent with the previous year [1] Financial Performance - Oil and gas sales reached $1.4 billion, reflecting a 10.7% increase year-over-year but falling short of the Zacks Consensus Estimate by 1.2% [1] - Adjusted cash flow from operations increased by 13.9% to $960.5 million, with capital expenditures totaling $501 million, resulting in adjusted free cash flow of $460 million [6] - Total operating expenses rose to $872 million from $774.1 million in the prior year, driven by a 6.5% increase in lease operating costs and a 15.6% rise in depreciation, depletion, and amortization [5] Production and Pricing - Average daily production increased by 16.8% year-over-year to 373,209 barrels of oil equivalent (Boe), surpassing the Zacks Consensus Estimate of 368,855 Boe [3] - Oil volume for the quarter was 174,967 barrels per day, up 15.3% year-over-year, exceeding the consensus mark of 171,776 Bbls/d [3] - The average sales price for oil was $70.48 per barrel, down 7.4% from the previous year, and slightly below the consensus estimate [4] Dividend and Shareholder Returns - The board declared a quarterly cash dividend of 15 cents per share, equivalent to 60 cents annually, to be paid on June 30, 2025 [2] Strategic Moves - The company completed the sale of its non-core Barilla Draw gathering systems for $180 million during the quarter [2] - A strategic acquisition was announced, expected to contribute approximately 12,000 Boe/d in the second half of the year, although this is not included in the revised standalone guidance [10] Guidance and Outlook - Updated full-year 2025 guidance anticipates average daily production between 360,000-380,000 Boe/d, with oil production ranging from 170,000 Bbls/d to 175,000 Bbls/d [7] - Controllable cash expenses are projected to be between $7.25 and $8.25 per Boe, with lease operating expenses estimated at approximately $5.55 per Boe [8] - The capital expenditure budget has been slightly reduced to a range of $1.9-$2 billion [9]

Core Insights - USA Compression Partners (USAC) reported a first-quarter adjusted net profit of 18 cents per common unit, missing the Zacks Consensus Estimate of 22 cents due to higher costs and expenses, but improved from 16 cents in the same quarter last year [1] - The company generated revenues of $245.2 million, a 7% increase year-over-year, surpassing the Zacks Consensus Estimate of $244 million, driven by a 3.2% rise in Contract operations and a significant 165.5% increase in Related party revenues [1] - Adjusted EBITDA rose by 7.2% to $149.5 million, exceeding the estimate of $146.2 million, while net income decreased to $20.5 million from $23.6 million year-over-year [2] Financial Performance - Adjusted gross operating margin decreased to 66.7% from 67.3% in the previous year [3] - Revenue-generating capacity increased by 2.4% year-over-year to 3.6 million horsepower, although below the estimate of 1.9% [3] - Average monthly revenue per horsepower rose to $21.06 from $19.96, but was below the estimate of $21.62 [3] Utilization and Cash Flow - Average quarterly horsepower utilization rate was 94.4%, slightly down from 94.8% a year ago [4] - Distributable cash flow (DCF) available to limited partners totaled $88.7 million, providing 1.4X distribution coverage, up 2.7% from the previous year [5] - The company declared a cash distribution of 52.5 cents per unit for the first quarter, to be paid on May 9, 2025 [5] Costs and Capital Expenditures - Total costs and expenses were reported at $175.8 million, an 8.3% increase from $162.4 million in the prior-year quarter [6] - Growth capital expenditures amounted to $22.2 million, while maintenance capital expenditures were $10.9 million [6] - As of March 31, 2025, USAC had a net long-term debt of $2.5 billion [6] Guidance - For the full year 2025, USAC expects adjusted EBITDA to be between $590 million and $610 million, with distributable cash flow projected to range from $350 million to $370 million [7] - Expansion capital expenditures are anticipated to be between $120 million and $140 million, while maintenance capital expenditures are expected to total between $38 million and $42 million [7]

Financial Performance - Ovintiv Inc. reported first-quarter 2025 adjusted earnings per share of $1.42, exceeding the Zacks Consensus Estimate of $1.20, but slightly down from $1.44 in the previous year due to lower realized oil prices and increased total expenses [1] - Total revenues for the quarter were $2.4 billion, a 1.1% increase from the prior year, and surpassed the Zacks Consensus Estimate by 3.3%, driven by higher product and service sales [1] Dividend and Asset Management - The board of directors declared a quarterly dividend of 30 cents per share, payable on June 30 to shareholders of record as of June 31 [2] - The company completed the divestiture of its Uinta assets for approximately $1.9 billion during the quarter [2] Share Buyback and Debt Management - The share buyback program was paused in Q4 2024 to allocate $377 million from the Montney acquisition and Uinta divestiture [3] - By the end of Q1, approximately $368 million was redirected toward debt reduction due to the buyback pause, with plans to resume buybacks in Q2 [4] Production and Pricing - Total first-quarter production was 588,300 barrels of oil equivalent per day (BOE/d), an increase from 573,800 BOE/d year-over-year, but below the estimate of 591,500 BOE/d [5] - Natural gas production rose to 1,764 million cubic feet per day (MMcf/d) from 1,648 MMcf/d in the prior year, but missed the estimate of 1,798.1 MMcf/d [5] - Realized natural gas price was $3.16 per thousand cubic feet, up from $2.56 year-over-year, while realized oil price decreased to $71.79 per barrel from $75.66 [6] Costs and Capital Expenditures - Total expenses increased to $2.5 billion from $1.9 billion year-over-year, exceeding the estimate of $1.9 billion [7] - Capital investments were $617 million compared to $591 million in the previous year, with a non-GAAP free cash flow of $1 billion for the quarter [8] Production Outlook - For Q2 2025, total production is expected to be between 585 MBOE/d and 605 MBOE/d, with capital investment projected between $550 million and $600 million [13] - For the full year 2025, total production is anticipated to average between 595 MBOE/d and 615 MBOE/d, with capital investment expected to be between $2.15 billion and $2.25 billion [14] Regional Production Insights - In the Permian Basin, production averaged 217 MBOE/d, with plans to invest $1.2 billion to $1.3 billion to drill 130-140 net wells in 2025 [10] - Montney production averaged 272 MBOE/d, with an investment plan of approximately $575 million to $625 million for 75-85 net wells [11] - Anadarko production averaged 91 MBOE/d, with an expected investment of $300 million to $325 million for 25-35 net wells [12]