Natural Gas Liquids (NGL)

Search documents
APA Corporation Provides Third-Quarter 2025 Supplemental Information and Schedules Results Conference Call for Nov. 6 at 10 a.m. Central Time
Globenewswire· 2025-10-08 20:53
Core Insights - APA Corporation provided supplemental information regarding its estimated financial and operational results for the third quarter of 2025, indicating that actual results may vary based on various factors [1] Financial Performance - Estimated average realized prices for the third quarter of 2025 are as follows: - Oil in the United States: $66.00 per barrel - NGL in the United States: $20.00 per barrel - Natural Gas in the United States: $0.70 per Mcf - Oil internationally: $68.50 per barrel - NGL internationally: $40.00 per barrel - Natural Gas internationally: $4.20 per Mcf [2] - The net gain on oil and gas purchases and sales (before tax) is estimated at $177 million, which includes the impact of realized gain/loss from commodity derivatives [2] Operational Updates - APA curtailed approximately 20 million cubic feet per day of U.S. natural gas production and 1,400 barrels per day of U.S. natural gas liquids production in response to weak or negative Waha hub prices [5] - The company received substantial payments from the Egyptian General Petroleum Corporation (EGPC), leading to normalized receivables from Egypt [3] Cash Flow and Debt Management - Total distributions to the non-controlling interest partner in Egypt amounted to $173 million during the third quarter, compared to $126 million in the first quarter and $91 million in the second quarter [4] - Despite these distributions reducing free cash flow, net debt and free cash flow were both lower than previously expected due to positive developments in payments from Egypt [4] Shareholder Actions - The estimated weighted-average basic common shares for the third quarter is 357 million, with APA repurchasing 3.1 million shares at an average price of $20.78 per share during the quarter [6] Upcoming Events - APA will host a conference call to discuss its third-quarter 2025 results on November 6 at 10 a.m. Central time, which will be webcast on the company's website [7]
Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Third Quarter 2025 Earnings
Globenewswire· 2025-10-02 20:15
HOUSTON, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced today their quarterly distributions with respect to the third quarter of 2025 and also announced timing of third quarter 2025 earnings. Third Quarter Distribution DeclarationPAA and PAGP announced the following quarterly cash distributions, each of which will be payable on November 14, 2025 to holders of the respective securities at the close of business on October 31, ...
Norway’s August oil and gas output surpasses forecasts
Yahoo Finance· 2025-09-24 15:13
Norway's oil and gas production in August 2025 surpassed forecasts, according to the Norwegian Offshore Directorate (NoD). The combined output exceeded projections by 2.6%, with an average daily production of 2.12 million barrels (mbbl) of oil, natural gas liquids (NGL) and condensate. Gas sales reached 10.3 billion standard cubic metres (bscm), a slight increase from the previous month. Oil production alone outperformed expectations, registering a 7% increase over the NoD's forecast and a 3.7% rise com ...
Is PrimeEnergy Stock a Smart Bet Amid Oil Slump & Gas Growth?
ZACKS· 2025-09-03 16:40
Core Viewpoint - PrimeEnergy Resources Corporation (PNRG) has shown resilience in a challenging oil market, outperforming its peers and focusing on expanding its natural gas production while managing share buybacks to reward investors [1][2][16]. Company Performance - PNRG stock has increased by 14.9% over the past year, contrasting with a 13.9% decline in the industry [1]. - The company has faced declining crude prices, impacting earnings and margins, yet it has maintained solid cash flow and is actively repurchasing shares [2][9]. - For the first half of 2025, PNRG reported revenues of $92 million, down from $107.8 million the previous year, with net income decreasing to $12.4 million from $31.1 million [8]. Production and Investment Strategy - PNRG is focusing on its core assets in the Permian Basin, emphasizing horizontal drilling to enhance production while minimizing environmental impact [3]. - The company plans to invest $129 million in 43 horizontal wells in 2025, an increase from $113 million in 2024 and $96 million in 2023 [4]. - Between 2023 and 2025, PNRG projects a total investment of $338 million in horizontal development, primarily in West Texas [5]. Market Environment - The U.S. Energy Information Administration forecasts Brent crude prices to average $58 per barrel in Q4 2025, potentially dropping to $50 in early 2026 due to oversupply [10]. - In contrast, natural gas prices are expected to rise, with Henry Hub spot prices projected to reach $4.30 per MMBtu in 2026, supported by increased LNG exports [10]. - PNRG's growth in natural gas and NGL production is helping to balance revenues against the volatility of oil prices [11]. Valuation Metrics - PNRG is currently trading at a trailing 12-month EV/EBITDA ratio of 1.89X, significantly lower than the industry average of 11.19X and its peers, indicating potential undervaluation [12].
Can Domestic Assets Continue to Drive Long-Term Growth for Occidental?
ZACKS· 2025-08-18 16:41
Core Insights - Occidental Petroleum Corporation (OXY) possesses a robust domestic asset portfolio in the U.S. energy sector, particularly in the Permian Basin, which is the most productive oil region in North America, allowing for consistent cash flows despite commodity price fluctuations [1][3] - The company's extensive holdings in the Permian Basin provide access to large, contiguous acreage with significant resource potential, supporting total production volumes alongside assets in the Rockies and Gulf of America [2][3] - Occidental's domestic assets facilitate strong production growth and resilience against market downturns, positioning the company competitively in both domestic and global energy markets [3][4] - The diversified revenue streams from crude oil, natural gas, and natural gas liquids (NGL) production enhance cash flow stability and support U.S. energy demand [4][10] - The company is advancing large-scale carbon capture and storage initiatives in its production regions, integrating conventional energy with low-carbon solutions, which adds long-term value to its domestic footprint [5][10] Industry Context - Domestic assets are crucial for oil and gas companies, providing reliable production, reduced transportation costs, and stronger operational control, which enhances supply security and limits geopolitical risks [6] - Competitors like ExxonMobil and Devon Energy benefit significantly from their domestic assets, which provide operational stability and long-term growth opportunities [7] Performance Metrics - Occidental's stock has increased by 3.7% over the last three months, outperforming the Zacks Oil and Gas-Integrated-United States industry's growth of 2.2% [8] - The company has consistently beaten earnings estimates in the past four quarters, with an average surprise of 25.72% [12] - Occidental's return on equity (ROE) stands at 13.78%, slightly below the industry average of 14.57% [14]
Prairie Operating Co. Announces Second Quarter 2025 Results
Globenewswire· 2025-08-12 20:05
Core Insights - Prairie Operating Co. reported significant growth in its financial and operational performance for Q2 2025, achieving record production and adjusted EBITDA, while completing strategic acquisitions to strengthen its position in the DJ Basin [4][6][10]. Financial Performance - Total revenue reached $68.1 million, marking an increase of approximately 400% quarter-over-quarter [6][7]. - Net income attributable to common stockholders was $48.5 million, reflecting an increase of over 500% quarter-over-quarter [7][8]. - Adjusted EBITDA was recorded at $38.6 million, an increase of over 600% quarter-over-quarter [6][8]. - Quarterly production surged over 540% to a total of 21,052 Boe/d, with approximately 50% being oil [6][19]. Operational Highlights - The company successfully integrated the Bayswater assets acquired earlier in the year, expanding its operated wells from 34 to over 360 [4]. - Prairie drilled 18 and completed 9 wells during the quarter, with average spud-to-total-depth times improving to 5.3 days [11]. - The execution of the 11-well Rusch pad was a key highlight, achieving average rates of penetration exceeding 450 feet per hour [12]. - The company implemented U-shaped lateral designs to enhance drilling efficiency and maximize resource extraction [13]. Capital Expenditures and Acquisitions - Capital expenditures incurred were $56.6 million, with over $600 million spent on acquiring producing oil and gas assets [17][7]. - The company amended its Credit Facility Agreement with Citibank, reaffirming the borrowing base to $475 million [7][10]. Liquidity and Guidance - As of June 30, 2025, Prairie had approximately $98.7 million in liquidity, consisting of $88 million available under its Credit Facility and $10.7 million in unrestricted cash [23]. - The updated guidance for 2025 anticipates adjusted EBITDA to range between $240 million and $260 million, supported by an active hedging program [26][25].
Compared to Estimates, Targa Resources (TRGP) Q2 Earnings: A Look at Key Metrics
ZACKS· 2025-08-07 20:00
Core Insights - Targa Resources, Inc. reported $4.26 billion in revenue for Q2 2025, a year-over-year increase of 19.6%, with an EPS of $2.87 compared to $1.33 a year ago, indicating strong earnings growth despite missing revenue estimates by 12.19% [1] - The company delivered an EPS surprise of +50.26%, exceeding the consensus EPS estimate of $1.91 [1] Financial Performance - Targa Resources' stock has returned -4.5% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change, and currently holds a Zacks Rank 3 (Hold) [3] - Key metrics for Targa Resources include: - NGL sales per day: 606.4 million barrels, exceeding the average estimate of 591.25 million barrels [4] - Gross NGL production (Coastal): 31.6 million barrels, slightly below the estimate of 32.03 million barrels [4] - Condensate sales per day: 20.1 million barrels, above the estimate of 19.31 million barrels [4] - Logistics and Marketing NGL sales: 1151.1 million barrels, surpassing the estimate of 1093.79 million barrels [4] - Export volumes: 423.1 million barrels, below the estimate of 443.45 million barrels [4] - Fractionation volumes: 969.1 million barrels, below the estimate of 1106.38 million barrels [4] - Total Plant natural gas inlet volumes: 7894 million cubic feet, above the estimate of 7645.53 million cubic feet [4] - Total Gross NGL production: 1025.2 million barrels, exceeding the estimate of 990.94 million barrels [4] - Average realized prices for Condensate: $63.79, above the estimate of $62.47 [4] - Average realized prices for Natural gas: $1.01, below the estimate of $1.75 [4] - Average realized prices for NGL: $0.41, slightly below the estimate of $0.45 [4] - Plant natural gas inlet volumes (Badlands): 130.9 million cubic feet, below the estimate of 141.6 million cubic feet [4]
OXY(OXY) - 2025 Q2 - Earnings Call Presentation
2025-08-07 17:00
Financial Performance & Debt Reduction - Occidental generated approximately $2.6 billion in operating cash flow before working capital in Q2 2025[6, 11] - The company repaid $7.5 billion of debt over the last 13 months, reducing annual interest expense by ~$410 million[7, 24] - Additional divestitures of approximately $950 million were announced since Q1 2025[7, 11, 24] - Unrestricted cash balance as of June 30, 2025, was $2.3 billion[27] Cost Reduction & Efficiency - $150 million of additional 2025 capital and opex reductions are planned[7, 13] - Cumulative cost reductions of $500 million are expected in 2025, enhancing cash flow[7] - Domestic operating cost reduction drivers are expected to save ~$150 million in 2025[13] - Permian unconventional well costs in 1H25 were 13% lower than the 2024 average[15] Production & Operations - Total company production was 1,400 Mboed in Q2 2025[11, 27] - OxyChem pre-tax income was $213 million in Q2 2025[27] - Midstream adjusted pre-tax income was $116 million in Q2 2025[27]
Devon Energy to Report Q2 Earnings: How Should You Play the Stock?
ZACKS· 2025-08-04 17:15
Core Viewpoint - Devon Energy Corporation (DVN) is anticipated to show an increase in revenue but a decrease in earnings for the second quarter of 2025, with a negative earnings surprise of 4.72% reported in the previous quarter [1]. Factors Influencing Q2 Earnings - Strong production from a diverse multi-basin portfolio, especially the Delaware Basin, is expected to support solid second-quarter results [2]. - The company has hedged its second-quarter production to mitigate market volatility in oil, natural gas liquids (NGL), and natural gas prices, providing stability to earnings [2]. - A disciplined approach to cost management has kept operating expenses in check, while robust cash flow generation has supported share repurchase efforts, likely boosting quarterly earnings [3]. - Restructuring NGL contracts and enhancing downstream oil realizations through expanded access to export markets are expected to positively impact earnings [4]. Q2 Expectations - Devon Energy expects second-quarter production volume to be between 810,000 and 828,000 barrels of oil equivalents per day (Mboe/d), with a Zacks Consensus Estimate of 817.7 Mboe/d, indicating a year-over-year growth of 15.7% [5]. - The Zacks Consensus Estimate for second-quarter revenues is $4.01 billion, reflecting a growth of 2.46% from the previous year [5]. - The consensus estimate for earnings is 83 cents per share, indicating a decline of 41.13% from the year-ago figure [6]. Earnings Prediction Model - The model does not predict a likely earnings beat for DVN this quarter, as it has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [7][8]. Summary of Expectations - Devon Energy anticipates Q2 revenues of $4.01 billion, up 2.46%, but expects EPS to drop 41.13% to 83 cents, supported by strong output from the Delaware Basin and cost discipline [10]. - The company is working on restructuring NGL contracts and expanding export capabilities to enhance pricing and downstream margins [10].
Insights Into Targa Resources (TRGP) Q2: Wall Street Projections for Key Metrics
ZACKS· 2025-08-04 14:21
Core Viewpoint - Analysts expect Targa Resources, Inc. (TRGP) to report quarterly earnings of $1.91 per share, reflecting a year-over-year increase of 43.6%, with revenues projected at $4.85 billion, up 36.2% from the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised 2% higher over the last 30 days, indicating a collective reevaluation by analysts [1][2]. Key Metrics Forecast - Analysts predict 'Gathering and Processing - NGL sales per day' to reach 591.25 thousand barrels, an increase from 569.70 thousand barrels year-over-year [4]. - 'Gathering and Processing - Gross NGL production - Coastal' is expected to be 32.03 thousand barrels per day, down from 34.40 thousand barrels [4]. - 'Gathering and Processing - Condensate sales per day' is estimated at 19.31 thousand barrels, a decrease from 21.20 thousand barrels [5]. - 'Logistics and Marketing - NGL sales' are projected to be 1,093.79 thousand barrels per day, up from 1,018.40 thousand barrels in the same quarter last year [6]. - 'Logistics and Marketing - Export volumes' are expected to reach 443.45 thousand barrels per day, compared to 394.10 thousand barrels year-over-year [6]. - 'Logistics and Marketing - Fractionation volumes' are forecasted at 1,106.38 thousand barrels per day, up from 902.20 thousand barrels [7]. - 'Gathering and Processing - Total Gross NGL production' is estimated at 990.94 thousand barrels per day, compared to 965.70 thousand barrels in the same quarter last year [8]. - The average realized price for 'Gathering and Processing - Average realized prices - Condensate' is projected at $62.47, down from $72.83 year-over-year [8]. Stock Performance - Targa Resources shares have shown a return of -6.1% over the past month, contrasting with the Zacks S&P 500 composite's +0.6% change [10].