The United Steelworkers union (USW) adopted a national agreement negotiated with Marathon Petroleum for use in contracts between 30,000 oil industry workers and their refineries and chemical plants, t... ...

The playbook is simple — collect first, consider production later.Cash Before CrudeOn the fourth quarter earnings call, CEO Ryan Lance cut through the geopolitics with one line that matters more than any production forecast:"Our focus remains on trying to get the recovery that has owed us from the two judgments that we have in place."Translation for investors: Conoco's Venezuelan upside is legal, not operational. Years after its assets were expropriated, the company is pursuing cash through courts, settleme ...

The playbook is simple — collect first, consider production later.Cash Before CrudeOn the fourth quarter earnings call, CEO Ryan Lance cut through the geopolitics with one line that matters more than any production forecast:"Our focus remains on trying to get the recovery that has owed us from the two judgments that we have in place."Translation for investors: Conoco's Venezuelan upside is legal, not operational. Years after its assets were expropriated, the company is pursuing cash through courts, settleme ...

Financial Data and Key Metrics Changes - For the full year 2025, total company production grew by 11% to approximately 100,000 barrels of oil equivalent per day, with oil production growing by 4% to nearly 40,000 barrels per day [7][16] - Fourth quarter adjusted net income was approximately $71 million or $0.38 per diluted share, with adjusted EBITDA at $216 million [8][16] - Free cash flow for the full year exceeded $425 million, with approximately 75% returned to shareholders through dividends and share repurchases [9][16] - The balance sheet ended the year with a cash balance of $267 million, providing ample liquidity [20] Business Line Data and Key Metrics Changes - The company achieved a new production record in the fourth quarter, averaging nearly 104,000 barrels of oil equivalent per day, reflecting a sequential increase of 3% [8][16] - Operationally, field-level cash operating expenses declined by 7% to $5.12 per BOE during 2025 [7] Market Data and Key Metrics Changes - Total revenue per BOE declined 13% quarter-over-quarter due to lower oil prices [21] - The company remains unhedged for all oil and natural gas production, with anticipated oil price differentials of approximately $3 per barrel [23] Company Strategy and Development Direction - The company's strategy focuses on steady mid-single-digit production growth, high pre-tax margins, and reliable free cash flow while maintaining a low reinvestment rate [10][11] - The company plans to maintain capital spending at similar levels in 2026 while targeting a production growth of approximately 5% [13][23] - The company emphasizes a disciplined approach to capital allocation and operational efficiency, aiming to maximize returns while minimizing financial risk [11][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate product price volatility and highlighted the importance of maintaining low leverage [11][15] - The outlook for 2026 is optimistic, with expectations for gradual production growth despite potential weather impacts in the first quarter [23][44] Other Important Information - The company repurchased approximately 8.9 million shares throughout 2025, reducing the diluted share count by roughly 4.5% [9][17] - A 10% increase in the quarterly dividend was announced, marking the fifth consecutive annual increase [19][14] Q&A Session Summary Question: Performance of recent wells in Giddings - Management noted that recent wells have outperformed type curves due to improved drilling practices and better rock quality [25][26] Question: M&A activity and pricing trends - Management acknowledged increased competition and rising prices for acreage but emphasized a preference for undeveloped opportunities rather than PDP-heavy deals [28][30] Question: Well-cost reductions and capital efficiency - Management indicated that well costs have decreased, with current costs around $1,000 per foot for standard Giddings wells, and service costs are expected to remain flat to slightly down [35][36] Question: Production outlook for 2026 - Management expects steady growth throughout 2026, with a heavier capital outlay in the first half of the year [44][23] Question: Maintenance capital estimates - Management suggested that maintenance capital is likely around $400 million, reflecting efficiencies gained over the years [78][80]

Financial Data and Key Metrics Changes - For the full year 2025, total company production grew by 11% to approximately 100,000 barrels of oil equivalent per day, with oil production growing by 4% to nearly 40,000 barrels per day [7][9] - Fourth quarter adjusted net income was approximately $71 million or $0.38 per diluted share, with adjusted EBITDA at $216 million [9][17] - Free cash flow for the full year exceeded $425 million, with approximately 75% returned to shareholders through dividends and share repurchases [10][20] Business Line Data and Key Metrics Changes - The company achieved a new production record in Q4, averaging nearly 104,000 barrels of oil equivalent per day, reflecting a sequential increase of 3% [8] - Field-level cash operating expenses declined by 7% to $5.12 per BOE during 2025, contributing to improved operational efficiency [7][9] Market Data and Key Metrics Changes - Total revenue per BOE declined 13% quarter-over-quarter due to lower oil prices, impacting operating income margins [21] - The company remains unhedged for all oil and natural gas production, which allows for upside potential in commodity prices [24] Company Strategy and Development Direction - The company's strategy focuses on steady mid-single-digit production growth, high pre-tax margins, and reliable free cash flow while maintaining a low reinvestment rate [11][12] - Magnolia plans to maintain capital spending at similar levels year-over-year while targeting a production growth of approximately 5% in 2026 [13][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate product price volatility and emphasized the importance of maintaining low leverage for financial flexibility [15][20] - The outlook for 2026 includes expectations for gradual production growth despite potential weather impacts in Q1 [24][43] Other Important Information - The company repurchased approximately 8.9 million shares throughout 2025, reducing the diluted share count by roughly 4.5% [10][18] - A 10% increase in the quarterly dividend was announced, marking the fifth consecutive annual increase [14][19] Q&A Session Summary Question: Performance of recent wells in Giddings - Management noted that recent wells have outperformed type curves, attributing success to improved drilling techniques and better rock quality [26][27] Question: M&A activity and pricing trends - Management acknowledged increased competition and rising prices for acreage but emphasized a preference for undeveloped opportunities rather than PDP-heavy deals [28][30] Question: Cost reductions and capital efficiency - Management indicated that well costs have decreased, with current costs around $1,000 per foot for standard Giddings wells, and service costs are expected to remain flat to slightly down [34][35] Question: Capital allocation strategy - Management stated that excess cash from higher oil prices would be directed towards dividends, share repurchases, or opportunistic acquisitions, without plans to add another rig [96][99] Question: Production outlook for 2026 - Management expects steady growth throughout 2026, with a heavier capital outlay in the first half of the year [42][43] Question: Development approach and well pad sizes - The average well pad size remains around 3-4 wells, with opportunities for longer laterals if adjacent acreage can be acquired [49][51] Question: Maintenance capital estimates - Management suggested that maintenance capital is likely around $400 million, reflecting efficiencies gained over the years [78][80]

Occidental Petroleum (NYSE: OXY) started 2026 off with a bang. Shares of the oil and gas producer rallied 10.4% in January. That meaningfully outperformed the S&P 500's 1.4% rise last month. A rebound in crude oil prices was a major catalyst for the oil stock last month. However, it wasn't the only factor behind Occidental's January surge. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » ...

Wall Street analysts expect BP (BP) to post quarterly earnings of $0.57 per share in its upcoming report, which indicates a year-over-year increase of 29.6%. Revenues are expected to be $59.91 billion, up 24.6% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 3.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its ear ...

Shell Plc downgraded after soft trading update Proactive uses images sourced from Shutterstock RBC Capital Markets has downgraded Shell PLC to 'Sector Perform' from 'Outperform', citing mounting concerns over the energy major's resource depth and what the bank calls a rare "double miss" on earnings. The investment bank cut its price target to 3,200p from 3,600p, implying roughly 12% upside from current levels. Analyst Biraj Borkhataria argues Shell delivered a soft trading update that triggered earnings ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

DALLAS, Feb. 6, 2026 /PRNewswire/ -- Argent Trust Company, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.283370 per unit, payable on February 27, 2026, to unit holders of record on February 17, 2026. Sabine's cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at ...