EOG Resources (EOG) M&A Announcement May 30, 2025 09:00 AM ET Speaker0 Good day, everyone, and welcome to EOG Resources' Encino Acquisition Conference Call. As a reminder, this call is being recorded. For opening remarks and introductions, I'll turn the call over to EOG Resources' Vice President of Investor Relations, Mr. Pierce Hammond. Please go ahead, sir. Speaker1 Good morning and thanks for joining us. Earlier this morning, we issued a press release announcing a definitive agreement to acquire Encino A ...

Core Viewpoint - The Trump administration's decision to allow Chevron to maintain its assets in Venezuela is seen as a positive move by Republican Congressman Carlos Gimenez, who supports a return to Trump-era policies regarding Venezuela and its regime under Nicolás Maduro [1][6][15]. Group 1: Chevron's Operations in Venezuela - Chevron is permitted to maintain its assets in Venezuela but is restricted from importing oil and paying royalties to the Maduro regime, which could amount to over $700 million monthly [5][9][15]. - The concern exists that if Chevron were forced out, Chinese interests might take over its assets, which are considered superior in quality compared to other Venezuelan oil infrastructure [5][9]. Group 2: Political Context and Implications - Gimenez emphasizes the intertwined economic relationship between Maduro and Cuban leader Miguel Diaz-Canel, with Venezuela supplying oil to Cuba in exchange for security personnel [11][12]. - The Congressman advocates for a peaceful transition to a legitimate government in Venezuela, supporting Edmundo Gonzalez, who was declared to have lost the 2024 election under disputed circumstances [13][15]. Group 3: Broader Implications for U.S. Policy - The current situation is framed as a struggle between democracy and dictatorship, with Gimenez urging U.S. interests to remain aligned with democratic principles and to avoid any financial support to the Maduro regime [9][15]. - The article highlights the importance of U.S. policy in supporting democratic movements in Latin America, particularly in Venezuela and Cuba, where strongman regimes are in power [10][15].

Acquisition Overview - EOG is acquiring Encino Acquisition Partners for $5.6 billion [3] - The acquisition includes approximately 675,000 net acres [3, 8] and over 1.0 billion Boe of undeveloped net resources [3, 8] - The deal is expected to close in the second half of 2025 [3] Financial Impact - The acquisition is expected to be accretive, increasing EBITDA by 10% in 2025 [3] - It is also expected to increase CFO and FCF by 9% in 2025 [3] - EOG is raising its regular dividend by 5% to $1.02 per share [3] Strategic Benefits - The acquisition expands EOG's Utica asset position to a pro forma total of 1.1 million net acres [8, 10] with over 2.0 billion Boe of undeveloped net resources [8, 10] - EOG anticipates $150 million in synergies in the first year, primarily from lower capital, operating, and debt financing costs [8] - The acquisition increases EOG's working interest in the northern acreage by over 20% [9] Operational Synergies - EOG's technical expertise is expected to lower well costs by approximately 15% in the volatile oil window [17] - EOG's well costs are expected to be less than $650 per foot, compared to Encino's ~$750 per foot [17, 19]

HOUSTON, May 30, 2025 /PRNewswire/ -- EOG Resources, Inc. (EOG) today announced a definitive agreement with Canada Pension Plan Investment Board (CPP) and Encino Energy under which EOG will acquire Encino Acquisition Partners (EAP or Encino) for $5.6 billion, inclusive of EAP's net debt. EOG currently expects to fund the acquisition through $3.5 billion of debt and $2.1 billion of cash on hand."This acquisition combines large, premier acreage positions in the Utica, creating a third foundational play for EO ...

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 activities [1]. Group 1 - The website provides general news, publications, and personal analysis 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].

Core Viewpoint - Strathcona Resources Ltd. has initiated an offer to acquire all outstanding common shares of MEG Energy Corp. for a combination of Strathcona shares and cash, reflecting a strategic move to consolidate its position in the oil and gas sector [1][2]. Offer Details - The offer consists of 0.62 Strathcona shares and $4.10 in cash for each MEG share [1]. - The offer is open for acceptance until September 15, 2025, at 5 p.m. Mountain Time [2]. - The offer is subject to conditions including the deposit of more than 50% of MEG shares and obtaining necessary regulatory approvals [6][7]. Equity Commitment - Strathcona has secured an equity commitment from Waterous Energy Fund, which holds 79.6% of Strathcona shares, to purchase an additional 21.4 million shares at $30.92 each, totaling approximately $662 million [3][4]. - This investment is noted as the largest single investment in the Canadian upstream oil and gas sector since 2014 [4]. Shareholder Approval - Strathcona anticipates issuing up to 145 million shares as part of the offer, which represents about 68% of its outstanding shares [17]. - The issuance of approximately 169.3 million shares requires shareholder approval, which has been obtained through written consent from WEF [18][19]. Strategic Intent - The company aims to acquire any MEG shares not deposited under the offer through compulsory acquisition or other means, reinforcing its strategy to integrate MEG as a wholly-owned subsidiary [8]. - The completion of the WEF III equity investment is expected by July 13, 2025, and is not a condition for the offer [16]. Advisors and Communications - Scotiabank and TD Securities are acting as exclusive financial advisors, while legal counsel includes Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP [21]. - Laurel Hill Advisory Group has been engaged as a strategic communications advisor and information agent for the offer [22].

EIA原油成品油库存下降，北半球进入需求旺季 1、纽约商品交易所7月交货的轻质原油期货价格下跌90美分，收于每桶60.94美元，跌幅为1.46%；7月交货的伦敦 布伦特原油期货价格下跌75美分，收于每桶64.15美元，跌幅为1.16%。SC原油主力合约收跌1.97%，报453元/桶。 2、美国至5月23日当周EIA原油库存 -279.5万桶，预期11.8万桶，前值132.8万桶；俄克拉荷马州库欣原油库存 7.5 万桶，前值-45.7万桶；汽油库存 -244.1万桶，预期-52.7万桶，前值81.6万桶；精炼油库存 -72.4万桶，预期48.1万 桶，前值57.9万桶；原油进口-53.2万桶，前值11万桶；原油出口增加79.4万桶/日至430.1万桶/日；战略石油储备（SPR） 库存增加82.0万桶至4.013亿桶，增幅0.2%，为2022年10月21日当周以来最高；除却战略储备的商业原油库存减少 279.5万桶至4.4亿桶，降幅0.63%。（来源：Bloomberg） 3、马来西亚种植与商品部部长Johari Abdul Ghani表示，马来西亚将把地面运输车辆的生物柴油掺混比例从B10提 升至B20。目前马 ...

HOUSTON, May 29, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (“Amplify” or the “Company”) (NYSE: AMPY) announced today that it completed its regularly scheduled semi-annual borrowing base redetermination. The redetermination affirmed the borrowing base at $145 million. The next regularly scheduled borrowing base redetermination is expected to occur in the fourth quarter of 2025. Martyn Willsher, Amplify’s President and Chief Executive Officer commented, “I would like to express my appreciation to our synd ...

Group 1 - Devon Energy Corporation (NYSE: DVN) is currently trading near $30, reflecting a decline in energy prices [1] - The company is experiencing volatility in energy prices, which will impact short-term pricing [1] - The price of oil is expected to stabilize, suggesting that current low prices may not persist [1]

Summary of TETRA Technologies (TTI) Conference Call Company Overview - TETRA Technologies has been operating for over 40 years, providing diverse revenue streams from energy services and industrial chemicals across the United States and 23 other countries [3][4] - The company is recognized as an industry innovation leader, particularly in completion fluids, oil and gas water treatment, and water management services [4] Financial Performance - TETRA reported a strong first quarter with adjusted EBITDA margins of 36% for completion fluids and 13% for water and flowback services [5] - The industrial chemicals segment achieved its highest first-quarter revenue and adjusted EBITDA in history [5] - Trailing twelve months revenue reached $327 million, reflecting a nearly 50% growth since the second year of COVID in 2021 [7] - The company has a solid balance sheet with a leverage ratio of 1.5 times and no debt maturities until 2029 and 2030 [29] Market Position and Growth Strategies - TETRA is positioned in key markets, including deepwater and unconventional markets in North America, Latin America, and the Middle East [4] - The company is focusing on three emerging growth strategies: 1. **Electrolytes for Energy Storage**: TETRA has developed a zinc bromide-based electrolyte for long-duration energy storage, partnering with Eos Technologies [13][14] 2. **Produced Water Desalination**: The company is introducing a desalination solution for produced water, targeting markets such as agriculture and industry [18][20] 3. **Critical Minerals Production**: TETRA has secured over 40,000 acres of brine leases in Arkansas, rich in lithium, bromine, magnesium, and manganese [22][24] Industry Trends and Challenges - The deepwater market is projected to grow at a 7% CAGR through 2028, with TETRA maintaining a strong market share [9] - The company is addressing challenges in the Permian Basin, where produced water disposal capacity is becoming limited, necessitating innovative solutions [19][20] - TETRA's technology investments are expected to enhance margins and operational efficiency, particularly in the water and flowback segment [11][12] Key Collaborations and Innovations - TETRA has collaborated with EOG Resources for produced water beneficial reuse and desalination pilot projects, achieving a 92% desalination rate in initial tests [21][20] - The company is leveraging automation technologies to reduce manpower requirements in operations, enhancing efficiency [12] Conclusion - TETRA Technologies is well-positioned for growth with a solid financial foundation, innovative technologies, and strategic partnerships, despite facing industry challenges [30]