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Phillips 66 had a disappointing quarter failing to meet Wall Street expectations in terms of revenues as well as earnings. The management managed to strengthen their financial position by retiring debt and resuming their share repurchase program with their cash flow production. Share repurchases and dividends delivered $3.3 billion to shareholders. They further finished Frac 4 at the Sweeny Hub, adding 150,000 barrels daily. Sweeny Hub's overall capacity for fractionation is 550,000 barrels per
Companies: Phillips 66 (PSX:NYSE)Phillips 66 (PSX:NYS)
Baptista Research
With the results of Phillips 66 around the corner, the stock price has been appreciating over the past few weeks. The company is operating in a positive market environment that is driven by tight worldwide demand and supply balance. The management has maintained solidity in its operations in the successful completion of the company’s spring turnaround activities. Phillips 66 had delivered an all-around beat in its last result and resumed its share repurchase program in the second quarter. Among
Phillips 66 is an integrated energy manufacturing and logistics company. It delivered a strong set of results since the start of 2022 benefitting from the bull run in oil prices. Earlier in the year, the company completed the buy-in of Phillips 66 Partners in midstream. Furthermore, the management is moving forward with the Rodeo Renewed project and anticipate finishing the last stages of the permitting procedure soon. Over 50,000 barrels of renewable fuel can initially be produced daily at Rode
Companies: Phillips 66 (PSX:NYS)Phillips 66 (0KHZ:LON)
This is our first report on integrated energy player, Phillips 66. The company delivered a strong set of results since the start of 2022 and its last quarter was an all-around beat. Earlier in the year, the company completed the buy-in of Phillips 66 Partners in midstream. Furthermore, the management is moving forward with the Rodeo Renewed project and anticipate finishing the last stages of the permitting procedure soon. Over 50,000 barrels of renewable fuel can initially be produced daily at R
Research Tree provides access to ongoing research coverage, media content and regulatory news on Phillips 66. We currently have 0 research reports from 2 professional analysts.
In last couple of weeks, besides its 2023 annual results, Aminex also provided an update on two important developments for the company.
Companies: Aminex Plc
Shard Capital
JOG has released its results to the end of 2023, confirming a strong £10.5m cash holding number, and providing an update on progress towards FID on its Buchan development project.
Companies: Jersey Oil & Gas PLC
Zeus Capital
The RZK-1 well has reached TD on time and on budget, encountering the Gaufrette Main target on prognosis. Whilst post well analysis has confirmed the presence of good quality reservoir (exceeding pre-drill expectations) and multiple gas shows, the reservoirs are interpreted to be largely water-bearing and therefore sub-economic. Whilst the results have not delivered a material gas accumulation, the presence of strong gas shows and excellent reservoir development is encouraging for future explora
Companies: Chariot Limited
Cavendish
Broadly, our take away is that the Q1 results again provide confidence in the delivery of i3 Energy's assets and management team. We reiterate our 21p fair value estimate for i3 Energy. As a reminder, our fair value estimate is premised a 5x EV/2025 expected debt adjusted cash flow (“DACF”) multiple. We believe the company's solid operational results combined with rising commodity prices will further support the positive trajectory of i3 Energy.
Companies: i3 Energy Plc
WHIreland
Union Jack has announced a final dividend for 2023 of 0.25p/share, following the 0.30p/share interim dividend announced and paid during 2023.
Companies: Union Jack Oil Plc
Jersey Oil & Gas provided its annual results for the year ended 31 December 2023, in which we believe the key interest relates to updates on the progress towards project sanction for the Buchan field.
I3 has announced its Q1 2024 results, showing ongoing cash generation as the company prepares for its significant 2024 CAPEX programme, with new drilling activity to begin in late Q2.
GMS has announced an update on its net debt position, showing further reductions, as expected
Companies: Gulf Marine Services PLC
Hunting has announced a significant new US$145m OCTG contract win in the Middle East, boosting order book to record levels and seeing guidance now expected to be towards the top of the existing range.
Companies: Hunting PLC
Companies: CARR JOG STX HERC
Companies: Diversified Energy Company PLC
Tennyson Securities
Caspian Sunrise announced it has entered into an agreement to grant exclusivity to Absolute Resources LLP a Kazakh registered company in connection with the proposed conditional sale of the MJF and South Yelemes structures at the BNG Contract area for a consideration of $83 million.
Companies: Caspian Sunrise PLC
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Companies: Savannah Resources Plc
SP Angel
Prospex Energy (PXEN LN) is an investment company with exposure to European gas and power markets. The company has recently reported full year results with a net loss of £1.2m which broadly represents the G&A of the investment company with cash generative performance from the underlying investments; an operating gas to power plant in Spain (49.9%) and producing gas assets in Italy (37%).
Companies: Prospex Energy Plc
VSA Capital
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