Core Insights - PrimeEnergy Resources Corporation (PNRG) reported a 1.6% increase in shares since Q1 2025 results, outperforming the S&P 500's 1.8% decline during the same period [1] - The company achieved Q1 revenues of $50.1 million, a 16.4% increase from $42.99 million in the prior year, driven by higher natural gas and NGL volumes despite a decline in oil revenues [2] - Net income decreased by 19.3% to $9.1 million, with diluted EPS falling 15.7% to $3.72 due to increased depreciation and interest expenses [2] Production and Revenue Growth - Oil production rose 6% year over year to 457,000 barrels, while natural gas output increased by 106.6% to 2.39 billion cubic feet, and NGL production surged 120.4% to 454,000 barrels [3] - Oil sales decreased by 1.9% to $32.7 million, but natural gas revenues more than quadrupled to $6 million, and NGL revenues increased by 95.4% to $8.5 million, leading to a total oil and gas revenue improvement of 21% year over year [4] Operating Expenses and Margins - Production costs rose 4.3% to $9.5 million, while depreciation, depletion, and amortization expenses nearly doubled to $20.4 million due to expanded asset base [5] - Interest expenses increased by 174.4% to $590,000, reflecting higher debt balances and interest rates [5] Management Commentary - The CFO described the quarter as showing "strong operational momentum," highlighting growth in gas and NGL volumes and ongoing capital returns through share repurchases [6] - Management emphasized the portfolio's resilience to commodity price volatility, supported by a mix of mature reserves and active development areas in Texas [6] Strategic Factors - Performance was influenced by robust development in West Texas, with participation in numerous new horizontal wells leading to production gains, particularly in natural gas and NGLs [7] - Weaker oil and NGL pricing partially offset revenue gains, while increased depreciation and interest costs impacted profitability [7] Guidance and Outlook - The company plans to invest $118 million in 38 horizontal wells in 2025, continuing aggressive capital deployment in the Midland Basin [8] - Management intends to fund capital needs primarily through operating cash flows and a $300 million credit facility, with $108.5 million remaining available [8] Shareholder Returns - In the quarter, PrimeEnergy repurchased 47,970 shares for $9.17 million, continuing its share repurchase program, with a total of $112.6 million returned to shareholders through buybacks [10] - A gain of $619,000 was recorded from the sale of a workover rig, reflecting ongoing portfolio optimization [10] Overall Assessment - Despite a decline in earnings due to increased investment and rising costs, underlying growth in production and revenues, along with continued capital returns, indicate confidence in the company's long-term strategy [11]

Plains All American Pipeline (PAA) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Company Participants Blake Fernandez - Vice President - Investor RelationsWillie Chiang - Chairman, Director & CEOAl Swanson - EVP and CFOHarry Pefanis - President & Director of Plains All American GP LLCGabriel Moreen - Managing DirectorManav Gupta - Executive DirectorChris Chandler - EVP and COOJeremy Goebel - EVP and CCONone - ExecutiveSunil Sibal - Managing DirectorAJ O’Donnell - Director - Equity ResearchJohn Mackay - VP ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA attributable to Plains of $754 million for Q1 2025, with the crude oil segment adjusted EBITDA at $559 million, impacted by winter weather and refinery downtime [5][10] - The NGL segment reported adjusted EBITDA of $189 million, benefiting from higher frac spreads and NGL sales volumes [11] Business Line Data and Key Metrics Changes - The NGL segment's transition to more fee-based earnings continues, with a 30,000 barrel per day fractionation project placed into service [7] - The crude segment experienced two strategic transactions, including the acquisition of the remaining 50% equity in the Cheyenne Pipeline and the acquisition of Black Knight Midstream for approximately $55 million [8][10] Market Data and Key Metrics Changes - The company expects a $60 to $65 WTI price environment for the remainder of the year, which may lead to EBITDA guidance being in the lower half of the respective ranges [6] - The NGL segment remains largely insulated from lower commodity prices, with approximately 80% of estimated C3 plus spec products sales hedged for 2025 [7] Company Strategy and Development Direction - The company continues to execute on its efficient growth strategy, generating significant free cash flow and maintaining a flexible balance sheet [7][13] - The focus remains on distribution growth as the primary method for returning cash to shareholders, with opportunistic unit repurchases [21] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing uncertainty regarding trade tariffs and OPEC dynamics, which are creating volatility in the market [5][6] - The company remains optimistic about the medium to long-term outlook despite current market conditions, emphasizing the cyclical nature of commodity markets [6][39] Other Important Information - The company has successfully deployed approximately $1.3 billion into bolt-on acquisitions over the last several years, indicating a commitment to pursuing attractive risk-adjusted returns [9] - The management acknowledged the retirement of Harry Pofonis, the President and Co-Founder, recognizing his contributions to the company [9] Q&A Session Summary Question: Thoughts on capital allocation in the current environment - The company remains committed to distribution growth as the primary method for returning cash to shareholders, with opportunistic unit repurchases as a component of capital allocation [21][22] Question: M&A landscape and volatility impact - Volatile markets create questions, but the company believes it is well-positioned to pursue attractive deals while maintaining capital discipline [23][24] Question: Earnings cadence in Canada with new fractionation complex - The expanded capacity at the PFS facility in Edmonton will ramp up over the remainder of the year and into next year, contributing gradually to earnings [27][28] Question: Insights on Permian volumes and producer conversations - The company has seen over 100,000 barrels per day growth from the end of last year, with producers adopting a wait-and-see approach due to market volatility [35][36] Question: Acquisition multiples for recent deals - Both recent acquisitions met the company's return thresholds, with a focus on capital discipline and risk-adjusted returns [41][42] Question: Capital expenditure guidance and 2026 outlook - The investment capital guidance for 2025 remains unchanged at $400 million, with expectations for 2026 to align with long-term capital guidance [45][46] Question: Hedging philosophy and frac spread - The company maintains a consistent hedging strategy, with approximately 80% of estimated C3 plus spec products sales hedged for 2025 [47][48] Question: Demand signals and refining market health - The global refining market remains healthy, with strong crack spreads and refineries running at high capacity [71][73]

Financial Data and Key Metrics Changes - The company reported an average production of 81,000 BOE per day, with a revenue of $253 million, where oil contributed 49%, gas 33%, and NGLs 18% [25][26] - The net debt to EBITDA ratio improved from 1.0 times at the end of 2024 to 0.7 times at the end of Q1 2025 [6][23] - Projected interest expense for 2025 is expected to decrease by $22 million due to debt refinancing [6] Business Line Data and Key Metrics Changes - The production mix for the quarter was 24% oil, 53% natural gas, and 23% NGLs [25] - The company plans to shift its drilling focus towards natural gas, with a projected increase in natural gas production while keeping overall barrel oil equivalent flat [7][8] Market Data and Key Metrics Changes - Oil prices have recently dipped into the $50 range, impacting the company's strategy to focus on natural gas drilling [7] - The company maintains a strong position in the natural gas market, with a volume mix of 54% natural gas projected for 2025 [7] Company Strategy and Development Direction - The company emphasizes four strategic pillars: maintaining financial strength, disciplined execution, disciplined reinvestment rate, and maximizing cash distributions [3][4] - The company aims to keep its reinvestment rate below 50% of operating cash flow to optimize distributions to unitholders [4][12] - The recent acquisition of XTO assets is expected to enhance the company's drilling opportunities and production capabilities [10][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging market environment but believes the company is well-positioned to navigate through commodity cycles [7][23] - The company anticipates double-digit growth in natural gas production in 2026, driven by increased drilling activity in the Deep Anadarko Basin [7][8] Other Important Information - The company has distributed over $1 billion back to unitholders since inception, with a current distribution of $0.79 per unit, resulting in a 20% yield [16] - The company has made 21 acquisitions since early 2018, spending over $2 billion, focusing on cash-flowing properties at discounted prices [18] Q&A Session Summary Question: Can you elaborate on the recent acquisition and its impact? - The acquisition adds significant acreage but only produces about 1,600 BOE per day. It includes 1 million acres across various regions, primarily in the Greater Anadarko Basin [32][34] Question: What is the strategy regarding the reinvestment rate and rig deployment? - The company plans to maintain a reinvestment rate below 50%. Currently, two rigs will be operational, with a potential third rig added later in the year depending on cash flow [40][42] Question: How does the company view the oil to gas ratio in future development? - The company will prioritize gas drilling when gas prices are favorable compared to oil, with a focus on maintaining high rates of return [48][49] Question: What are the expectations for natural gas prices and production in 2026? - The company expects significant growth in gas production in 2026, with a projected increase of over 20% in gas volumes while oil production may decrease slightly [65]

1Q25 Earnings Call May 9, 2025 Forward-Looking Statements & Non-GAAP Financial Measures Disclosure Investor Relations Contacts Blake Fernandez Vice President, Investor Relations Blake.Fernandez@plains.com Michael Gladstein Director, Investor Relations Michael.Gladstein@plains.com Investor Relations 866-809-1291 plainsIR@plains.com 2 ▪ This presentation contains forward-looking statements, including, in particular, statements about the performance, plans, strategies and objectives for future operations of Pl ...

Permian Resources Corporation (PR) reported first-quarter 2025 adjusted net income per share of 42 cents, which missed the Zacks Consensus Estimate of 44 cents. This underperformance was due to a 12.6% year-over-year increase in operating expenses and lower oil prices. However, the reported figure was in line with the year-ago period. (See the Zacks Earnings Calendar to stay ahead of market-making news.)Meanwhile, Permian Resources’ oil and gas sales of $1.4 billion rose 10.7% from the year-ago quarter but ...

FORT WORTH, Texas, May 8, 2025 /PRNewswire/ -- PHX MINERALS INC., "PHX" or the "Company" (NYSE: PHX), today reported financial and operating results for the quarter ended March 31, 2025.Summary of Results for the Quarter Ended March 31, 2025 Net income was $4.4 million, or $0.12 per diluted share, compared to net income of $0.1 million, or $0.00 per diluted share, for the quarter ended Dec. 31, 2024, and net loss of ($0.2) million, or ($0.01) per diluted share, for the quarter ended March 31, 2024. Adjusted ...

For the quarter ended March 2025, Permian Resources (PR) reported revenue of $1.38 billion, up 10.7% over the same period last year. EPS came in at $0.42, compared to $0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.39 billion, representing a surprise of -1.22%. The company delivered an EPS surprise of -4.55%, with the consensus EPS estimate being $0.44.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

May 6, 2025 Resiliency and Continuous Improvement Support Strong Long-Term Outlook Important Disclosures Forward-Looking and Cautionary Statements Certain statements in this presentation, other than statements of historical facts, that address activities, events or developments that Chord expects, believes or anticipates will or may occur in the future, including any statements regarding the benefits and synergies of the Enerplus combination, future opportunities for Chord, future financial performance and ...

Energy Transfer (ET) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Thomas Long - Director & Co-CEOTheresa Chen - MD - Equity ResearchMackie McCrea - Director & Co-CEOJean Ann Salisbury - Managing DirectorSpiro Dounis - DirectorKeith Stanley - DirectorMichael Blum - Managing DirectorManav Gupta - Executive DirectorDylan Bramhall - Group Chief Financial Officer of LE GP, LLCJohn Mackay - VP - Equity ResearchGabriel Moreen - Managing Director Conference Call Participants Jeremy Tonet - Eq ...