Core Viewpoint - The sale of Golar LNG Limited shares by Beck Capital Management illustrates how even financially strong LNG operators can lose favor during shifts in capital cycles [1][2]. Company Overview - Golar LNG Limited's current share price is $36.99, with a market capitalization of $3.8 billion, revenue of $326.6 million, and net income of $59.8 million for the trailing twelve months (TTM) [4]. - The company specializes in designing, building, owning, and operating marine infrastructure for liquefaction and regasification of LNG, focusing on long-term charters and midstream LNG value chain [4]. Financial Performance - In the latest quarter, Golar reported a net income of $31 million attributable to shareholders and an adjusted EBITDA of $83 million, supported by long-term FLNG charters with a backlog of approximately $17 billion [5]. - The company maintains strong liquidity with $661 million in total cash at the end of the quarter and has authorized a $150 million share buyback while sustaining a quarterly dividend of $0.25 [5]. Market Position - Golar LNG's shares have decreased by 9% over the past year, underperforming the S&P 500, which has increased by 15% during the same period [3]. - Golar now represents 0.5% of Beck Capital Management's $433.8 million in reportable U.S. equity holdings, down from a previous stake of 172,826 shares to 54,860 shares [2]. Investment Considerations - The company is viewed as a cash-generating infrastructure play with long-term visibility, although it faces challenges in gaining market recognition compared to mega-cap technology stocks [7]. - The trimming of Golar's position by Beck Capital Management may reflect risk management rather than a loss of confidence in the company's fundamentals [7].

Core Insights - Delfin Midstream Inc. has entered into a Letter Of Award with Samsung Heavy Industries, designating SHI as the exclusive EPCI Contractor for the first FLNG Vessel of the Delfin LNG project [2] - The company is on track to make a Final Investment Decision (FID) for its leading US energy infrastructure project in November 2025, with plans for a second FLNG Vessel FID in early 2026 [4][5] - The Delfin project aims to produce up to 13.2 million tonnes of LNG annually and is positioned to be a significant economic contributor and job creator in the long term [6] Project Development - The LOA includes an Early Engagement scope of work to mobilize project teams and de-risk the project schedule [3] - Delfin has secured manufacturing capacity for the FLNG Vessel's gas turbines from Siemens Energy, and has made significant progress in debt and equity financing [4] - A Dock Reservation scheme has been agreed upon for the second FLNG Vessel, facilitating the early 2026 FID [5] Strategic Partnerships - The collaboration between Delfin and SHI is expected to strengthen partnerships for the second and third FLNG Vessels, including joint development of strategic business and trade opportunities [5] - The project is anticipated to enhance cooperation in trade, energy, and shipbuilding between the Republic of Korea and the USA [6] Company Overview - Delfin is a leader in LNG export infrastructure utilizing low-cost floating LNG technology and operates a brownfield deepwater port [7] - The company has acquired the UTOS pipeline, the largest natural gas pipeline in the Gulf of America, and has received necessary licenses for long-term LNG exports [7]

Company Overview - Excelerate is a global company with a presence in various regions including Asia, the Middle East, South America, Europe, and the Caribbean [1] - The company is a critical provider of last-mile LNG infrastructure, focusing on expanding the total addressable market (TAM) for LNG [2] Industry Context - Excelerate is unique among energy companies at the conference, as it remains agnostic about the cost of LNG [2] - There has been a significant number of final investment decisions (FIDs) made in the United States for LNG projects, which is expected to continue into 2025 [2]

Group 1 - The article highlights the first coverage of an infrastructure-focused energy player, presenting it as a distinctive and attractive investment opportunity [1] - The identification of the company was linked to a recent cooperation announcement between YPF and Eni, indicating potential strategic partnerships in the energy sector [1] Group 2 - The analysis is conducted by buy-side hedge professionals who focus on fundamental, income-oriented, long-term analysis across various sectors globally [1]

Group 1 - The company, Crown LNG Holdings Limited, received a letter from NASDAQ indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Annual Report on Form 20-F for the period ended December 31, 2024 [1][2] - The letter does not have an immediate effect on the listing of the company's ordinary shares on the NASDAQ Capital Market, and the company has 60 days to submit a plan to regain compliance [2] - The company intends to file the 20-F as soon as possible and believes it will be in compliance with all NASDAQ continued listing requirements thereafter [2] Group 2 - Crown LNG is a leading provider of offshore LNG liquefaction and regasification terminal infrastructure solutions, focusing on harsh weather locations [4] - The company targets a significant addressable market for bottom-fixed, gravity-based liquefaction and floating storage regasification units, as well as associated green and blue hydrogen, ammonia, and power projects [4] - Crown aims to provide lower carbon sources of energy securely to underserved markets across the globe [4]