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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.
i3 Energy has announced that it has refinanced its Trafigura straight-line amortising facility with a traditional RBL facility provided by a Canadian chartered bank. We believe that i3 Energy's shareholders stand to benefit considerably from the restructured balance sheet because it is significantly better adapted to the company's needs, in our opinion. We believe the new RBL facility will free funds for growth and provide better long-term balance sheet stability, while significantly reducing in
Companies: i3 Energy Plc
WHIreland
Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors.
Companies: Jersey Oil & Gas PLC
Zeus Capital
i3 has announced a refinancing of its C$75m Trafigura debt facility, increasing liquidity for the company to pursue further growth initiatives. i3 has also announced its end 2023 reserves update, showing significant replacement of production during the year.
Diversified Energy, Touchstone Exploration, Savannah Energy, Chariot, Plexus Holdings, Energean, Gulf Keystone Petroleum, PetroTal Corp, Ithaca Energy, Pantheon Resources, Serinus Energy, Angus Energy, Aker BP, Equinor, BlueNord ASA, Invictus Energy Source: FactSet, weekly change 18/03/24-22/03/24 Oil edged lower to settle below $81 a barrel after a stronger dollar curbed investor appetite for commodities, offsetting signs of a tighter global crude market. Refined product supplies are looking m
Companies: TXP POS SAVE DEC CHAR
Cavendish
Companies: Good Energy Group PLC
Canaccord Genuity
Results demonstrate Bretana cash flows that allow growth CAPEX and dividends. PetroTal has produced a solid set of 2023 results. These show the cash flow generating capability of the company’s Bretana field in Peru, which enables PetroTal to both expend growth CAPEX while also making material returns to shareholders.
Companies: PetroTal Corp.
Companies: FOG PEB KBT EMR TIME GETB JNEO
The company's business structure is evolving and diversifying into several compelling and complementary businesses. The opportunistic, potential sale of its producing shallow assets would represent a significant change and the company's openness to realise value from that sale speaks to the company's prioritisation of shareholder interests and shareholder value creation. The current year will be significant for many of the company's growth businesses as they establish their first significant com
Companies: Caspian Sunrise PLC
Central Asia Metals (CAML LN) reported full year earnings with net revenue of US$197m down 12% YoY (-1% against VSA estimate) owing to lower commodity prices and modestly lower output albeit comfortably within guidance. EBITDA of US$97m was down 27% YoY marginally below our estimate as the lower top line combined with inflationary pressure. However, group COGS ex-D&A increased 8% YoY, far lower than in-country inflation. A flagged increase in taxation in Kazakhstan meant that net income was US$3
Companies: Central Asia Metals Plc
VSA Capital
• YE23 2P reserves were estimated at 11.8 mmboe, including 0.7 mmboe for Canada and 4.6 mmboe non-core, leaving 6.5 mmboe for the company’s core Colombian assets. This compares with 2.1 mmbbl at YE23 plus 3.9 mmbbl for Carrizales Norte reported in September for a total of 6 mmbbl. Adding back 0.6 mmbbl (net) produced at Tapir in 2023 suggests that Arrow has added 1.1 mmbbl at its core Colombian assets since the latest reserve reports (September 2023 for Carrizales Norte and YE23 for the other a
Companies: Arrow Exploration Corp.
Auctus Advisors
Companies: Diversified Energy Company PLC
Tennyson Securities
• FY23 production, YE23 net cash and YE23 reserves and resources had been reported previously. • The FY24 production guidance of 21.5-24.5 mbbl/d with US$205-235 mm opex and US$135-155 mm capex has been re-iterated. • Current production continues to be high, with average production for the first half of March of ~23,000 bbl/d, including ~7.9 mbbl/d for Jasmine, 7.2 mbbl/d for Nong Yao, 2.9 bbl/d for Manora and 4.9 mbbl/d for Wassana. Production at Wassana is particularly high. • Valeura will als
Companies: Valeura Energy Inc.
Companies: FOG TND BVXP ACC HDD
Companies: PMG DUKE CMCL BOOM
Companies: Pantheon Resources plc
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