HOUSTON, July 10, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its board of directors has declared a quarterly cash dividend of $1.00 per common share, or $4.00 per common share on an annualized basis, for the second quarter of 2025. This cash dividend will be paid August 15, 2025 on all outstanding common shares to holders of record as of the close of business on July 31, 2025. The Company will report its second quarter 2025 financial results b ...

Targa's Value Proposition and Growth - Targa is the largest gatherer and processor in the Permian Basin, driving integrated returns through NGL pipeline transportation, fractionation, and LPG exports[9] - The company has experienced significant volume growth, with a +24% CAGR in fractionation volumes and +12% CAGR in LPG export volumes from FY 2019 to YTD 3Q24[12] - Permian natural gas inlet volumes have grown at a +25% CAGR from Q4 2019 to YTD 3Q24[16] - Targa's adjusted EBITDA has grown by +182% since 2019, driven by its integrated NGL business and strong business fundamentals[19] Financial Performance and Shareholder Returns - Management expects to recommend to Targa's Board of Directors an increase to the 2025 quarterly cash common dividend to $4.00 per share annualized for the first quarter of 2025, representing a +33% YoY increase[9, 10] - Targa has repurchased over 202 million shares since October 2020 at a weighted average price of ~$7069[19] - The company's 2024E fee-based volumes in G&P are approximately ~90%[9, 66] - Targa expects to return 40-50% of adjusted cash flow from operations across a multi-year horizon[75] Permian Basin and Infrastructure - Targa has a premier Permian asset footprint with ~88 Bcf/d gross processing capacity across 43 plants[26, 27, 80] - The company is expanding its Permian G&P footprint, with several new plants scheduled to come online between 1Q25 and 3Q26[32, 94] - Targa's Daytona NGL Pipeline has a capacity of 400 MBbl/d and was expected to be in service in 3Q24[95]

Core Viewpoint - Energy Transfer LP (ET) is positioned to benefit from increasing global demand for U.S. natural gas liquids (NGL) through strategic expansion of its export infrastructure, particularly at key terminals like Nederland and Marcus Hook [1][9]. Group 1: Export Capacity and Market Position - Energy Transfer has significant export capacity, capable of shipping over 1.1 million barrels per day of NGLs and 1.9 million barrels per day of crude oil, with nearly a 20% share of the global NGL export market [2][9]. - The expansion of NGL export capabilities allows Energy Transfer to capture higher-margin international volumes, which are generally more profitable than domestic sales [3][9]. Group 2: Financial Stability and Growth - The company benefits from long-term, fee-based contracts with global customers, providing stable cash flows amid volatile commodity price cycles [3]. - Energy Transfer's integrated pipeline and storage network enhances supply-chain connectivity, allowing for increased throughput without a proportional rise in fixed costs, thereby improving margins [4]. Group 3: Industry Context and Competitors - Other Master Limited Partnerships (MLPs) like Enterprise Products Partners LP and Plains All American Pipeline LP are also capitalizing on rising NGL demand, with Enterprise aiming to export over 100 million barrels per month by 2027 [6][7]. - The overall demand for NGL is increasing globally, supported by regulatory tailwinds favoring energy exports, positioning Energy Transfer for sustainable cash flow growth and robust returns to unitholders [5]. Group 4: Earnings and Valuation - The Zacks Consensus Estimate indicates an increase in Energy Transfer's earnings per unit for 2025 and 2026 by 2.13% and 4.26%, respectively, over the past 60 days [8]. - Energy Transfer units are currently trading at a discount relative to the industry, with a trailing 12-month EV/EBITDA of 10.24X compared to the industry average of 11.48X, suggesting undervaluation [10]. Group 5: Price Performance - Energy Transfer units have appreciated by 13.8% over the past year, outperforming the Zacks Oil and Gas - Production Pipeline - MLB industry's growth of 9.2% [12].

Core Insights - ONEOK, Inc. announced the acquisition of the remaining 49.9% interest in Delaware G&P LLC for $940 million, consisting of $530 million in cash and $410 million in common stock [1][11] - The Delaware Basin joint venture has a processing capacity of over 700 million cubic feet per day and is located in West Texas and New Mexico [2][11] - Following the acquisition, ONEOK will become the sole owner of the Delaware Basin JV by May 28, 2025 [2][11] Company Expansion and Strategy - ONEOK is actively expanding its operations through strategic acquisitions, which enhance geographic diversification, infrastructure integration, and fee-based earnings [3][11] - Recent acquisitions include Magellan Midstream Partners, Easton Energy's NGL pipelines, Medallion Midstream, and EnLink Midstream, which collectively strengthen ONEOK's position in the oil and natural gas pipeline sector [4][5][11] - These acquisitions are expected to generate significant cost savings and synergies, thereby improving profitability [6] Industry Context - Other companies in the oil and gas sector, such as Energy Transfer and TotalEnergies, are also pursuing growth through mergers and acquisitions, indicating a trend in the industry [7][9] - Energy Transfer's acquisition of WTG Midstream Holdings LLC expanded its gas gathering pipeline network by 6,000 miles [8] - Devon Energy's acquisition of Grayson Mill Energy significantly increased its net acre position and production volume in the Williston Basin [12] Stock Performance - ONEOK's stock has experienced a decline of 9.4% over the past three months, compared to a 5.7% decline in the industry [14]

Summary of ONEOK (OKE) Fireside Chat - May 28, 2025 Company Overview - **Company**: ONEOK (OKE) - **Industry**: Energy and Natural Gas Key Points and Arguments Commodity Price Impact - ONEOK is less affected by commodity price fluctuations compared to other companies, which can see cash flow changes of up to 40% with a $1 change in gas or a $10 change in oil prices [4][6] - Recent oil price declines have not led to a decrease in volume for ONEOK, indicating stability in their operations [4][6] Natural Gas Outlook - Natural gas production in the U.S. has increased from approximately 20 trillion cubic feet (Tcf) in 2000-2007 to around 42 Tcf in 2024, driven by coal-to-gas conversions and LNG exports [8][9] - Current LNG export facilities are projected to increase capacity to 10 billion cubic feet (Bcf) per day, with potential future expansions [10] - The demand for natural gas is expected to grow due to factors such as artificial intelligence data centers and ongoing coal plant conversions [11] Natural Gas Liquids (NGLs) and Petrochemicals - NGLs are primarily byproducts of crude oil and natural gas production, and their value is dependent on transportation to markets where they can be sold at higher prices [12][13] - The U.S. is expected to remain a significant supplier of ethane to petrochemical companies, with a notable portion being exported to China [18][20] Regulatory Environment - The current administration is actively seeking specific feedback from the industry to improve regulatory processes, which is seen as a positive change [22] - Tariff policies are viewed as volatile, but there is a growing understanding that they may not be permanent [23][24] Strategic Focus and Growth - ONEOK's strategy emphasizes brownfield expansions to reduce capital costs and enhance integration within their existing systems [26][27] - The company has divested non-integrated assets to focus on core business areas, which has allowed for better capital allocation [28] Financial Strategy - ONEOK aims for a balanced capital allocation strategy, prioritizing organic growth projects while maintaining a strong dividend policy [75][76] - The company targets a debt-to-EBITDA ratio of around 3.5 times, with plans for stock buybacks if excess cash is generated [78][79] Storage and Volatility Management - Storage capacity is seen as a critical component for managing the volatility of natural gas pricing, especially with increasing LNG exports [37][44] - ONEOK is expanding its storage capabilities, which are expected to provide opportunities in a volatile market [47][59] Customer Diversification - The company is shifting from a supply-push model to a demand-pull model, diversifying its customer base and reducing reliance on specific markets [51][52] Long-term Outlook - The Bakken region is expected to sustain production levels for decades, supported by advancements in drilling technology [54] - ONEOK anticipates continued growth in its core business, driven by synergies from recent acquisitions and ongoing demand for natural gas and NGLs [83][84] Additional Important Insights - The integration of various assets is a key focus for ONEOK, as it allows for better control over revenue streams and operational efficiencies [91][94] - The company is positioned well in the LNG market, with the U.S. being a significant player in global exports, particularly to Asia [71][72] This summary captures the essential insights from the ONEOK Fireside Chat, highlighting the company's strategic focus, market outlook, and financial strategies.

Group 1: America First Trade Policy - The "America First" agenda aims to eliminate trade imbalances through tariffs and new trade agreements [1] - The strategy focuses on making the U.S. a dominant force in the energy sector, supporting manufacturing and technology expansion [2] Group 2: Enterprise Products Partners - Enterprise Products Partners operates one of the largest energy infrastructure platforms in the U.S. with 50,000 miles of pipelines [6] - The company is a leader in exporting U.S. hydrocarbons and is expanding its export capabilities, including projects worth $7.6 billion [9][10] - Enterprise has raised its cash distribution for 26 consecutive years, currently yielding 6.7% [10] Group 3: NextEra Energy - NextEra Energy is the largest electric utility in the U.S. and a leader in renewable energy production [11] - The company plans to invest $120 billion in domestic energy infrastructure over the next four years, including significant solar energy projects [12] - NextEra has increased its dividend for 30 consecutive years, indicating strong financial health [14] Group 4: Future Growth and Investment - The U.S. energy sector is expected to grow due to increased demand from manufacturing, AI, and electrification, requiring 450 GW of new electricity generation capacity by 2030 [13] - Both Enterprise Products Partners and NextEra Energy are well-positioned to benefit from the anticipated growth in energy demand and exports [15][16]

Core Insights - Peyto Exploration & Development Corp. reported strong operating and financial results for Q1 2025, driven by increased natural gas prices and effective risk management strategies [3][6][25]. Financial Performance - Funds from operations (FFO) reached $225.2 million, or $1.12 per diluted share, a 10% increase from Q1 2024 [6][40]. - Earnings for the quarter totaled $114.1 million, or $0.57 per diluted share, reflecting a 14% year-over-year increase [6][9]. - The company reduced net debt by $65.7 million, bringing it down to $1.28 billion [6][46]. - Total capital expenditures were $102.1 million, with a total payout ratio of 76%, down from 89% in Q1 2024 [6][54]. Production and Pricing - Average production volumes increased by 7% year-over-year to 133,883 boe/d, with natural gas production averaging 710.5 MMcf/d [6][9]. - The realized natural gas price after hedging was $4.17/Mcf, 89% higher than the AECO 7A monthly benchmark of $1.92/GJ [6][13]. - The company recorded $50.8 million in realized hedging gains during the quarter [6][13]. Cost Structure - Cash costs totaled $1.42/Mcfe, a 6% decrease from $1.51/Mcfe in Q1 2024, maintaining the lowest cash costs among Canadian producers [6][15]. - Operating margin stood at 71%, with a profit margin of 32% [6][16]. Capital Expenditures and Drilling Activity - Peyto drilled 19 wells (18.2 net) and completed 13 wells (13.0 net) during the quarter [10][21]. - The company invested $15.5 million in gathering and processing facilities, enhancing its operational capacity [10]. Market Outlook - The company remains optimistic about future natural gas prices, supported by increasing U.S. LNG export demand and ongoing natural gas demand for AI-driven data centers [25][26]. - Peyto's capital guidance for 2025 is set between $450 million and $500 million, with plans to adjust based on commodity price fluctuations [26].

Core Viewpoint - Energy Transfer LP is experiencing volatility in 2025, but recent Q1 results indicate strong growth potential, with a 7.8% yield and expectations for accelerating growth in the future [1][6]. Financial Performance - Energy Transfer reported a net income of $1.32 billion for Q1, translating to $0.36 per diluted unit, reflecting a year-over-year growth of approximately 6.5% and surpassing analysts' expectations of $0.33 per unit [2]. - Revenue decreased by 2.8% year-over-year to $21 billion, while distributable cash flow fell from $2.36 billion in Q1 2024 to $2.31 billion in the recent quarter [4]. Volume Growth - The company experienced volume growth across various segments: interstate natural gas transportation volumes increased by 3%, crude oil volumes surged by 10%, natural gas liquids (NGLs) volumes rose by 4%, and NGL exports jumped by 5% [3]. Industry Outlook - CEO Marshall McCrea expressed optimism about the industry, anticipating a rebound after a temporary slowdown, particularly highlighting strong future demand for oil and gas products [5]. - International demand for butane, ethane, and propane, especially from China, is expected to remain robust, with no anticipated challenges in selling out terminal capacity [5]. Growth Initiatives - Energy Transfer is focusing on the data center market, with plans to explore opportunities with around 150 data centers in Texas and other states, indicating significant growth potential [5]. - The company plans to invest approximately $5 billion in organic growth capital projects this year, with most projects expected to come online in 2025 or 2026 [5]. Investment Appeal - The company offers a strong income investment opportunity with a forward distribution yield of 7.8% and a recent distribution increase of over 3% [6]. - Energy Transfer's business model is resilient, primarily fee-based, with limited exposure to commodity prices, and the balance sheet is reported to be the strongest in its history [6][7].

Core Viewpoint - Petrus Resources Ltd. reported its financial and operational results for Q1 2025, highlighting stable production levels, strategic capital investments, and a focus on maintaining financial stability through hedging and infrastructure development [1][2][4]. Financial Performance - Average production for Q1 2025 was 8,929 boe/d, slightly down from 9,066 boe/d in Q4 2024 [6][8]. - The total realized price increased by 11% to $29.35/boe from $26.45/boe in the previous quarter, primarily due to improved natural gas pricing [6][8]. - Funds flow generated was $12.5 million, or $0.10 per share, maintaining gains from Q4 2024 [6][9]. - The company paid a regular monthly dividend of $0.01 per share, totaling $3.8 million, with $2.6 million reinvested under the dividend reinvestment plan [6][9]. Capital Expenditures - Petrus invested $17.3 million in capital during the quarter, with approximately 60% directed towards drilling, completing, and tying in 7 gross (4.1 net) wells [6][8]. - The remaining capital expenditures were focused on the construction of a 12-kilometer expansion of the North Ferrier pipeline, aimed at enhancing access to undeveloped lands and cost-effective transportation of natural gas [6][8]. Debt and Financial Stability - Net debt increased to $66.0 million as of March 31, 2025, with a net debt to annualized funds flow ratio of 1.3x, attributed to high capital spending [6][9]. - The company anticipates a decline in net debt in the second half of the year, forecasting a return to the 2025 guidance target of $60 million by year-end [4][6]. Production and Pricing Details - Natural gas production averaged 35,689 mcf/d, while oil and condensate production averaged 1,202 bbl/d, and NGLs averaged 1,777 bbl/d [8][9]. - The realized price for natural gas was $2.25/mcf, while oil and condensate realized $92.73/bbl, and NGLs realized $39.54/bbl [8][9]. Outlook - The 2025 capital program is on schedule, with drilling operations continuing through spring breakup and production expected to come online later in May [3][4]. - Approximately 56% of forecasted production for 2025 is hedged at an average price of $2.67/GJ for natural gas and CAD$94.75/bbl for oil, positioning the company to achieve guidance targets [4][6].

OKLAHOMA CITY, May 7, 2025 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company"), today reported financial and operating results for the first quarter ended March 31, 2025.FIRST QUARTER 2025 AND RECENT HIGHLIGHTS Averaged 24.4 MBoe/d of total equivalent production (oil production of 15.6 MBbls/d) Generated $50 million of operating cash flow or $56 million before changes in working capital(1), $36 million of Total Free Cash Flow(1) and $39 million of Upstre ...