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Nucor Corporation delivered a mixed set of results in the quarter, failing to meet revenue expectations of Wall Street but managing an earnings beat. Its result was largely attributed to Nucor's steel products segments' continued profitability as well as higher volumes and margins at its steel mills segment. Their Steel Products segment's net earnings were down 10% from Q4 levels, but they were still 42% higher compared to the same period a year earlier. Shipments from Nucor's steel mills increa
Companies: Nucor Corporation (NUE:NYSE)Nucor Corporation (NUE:NYS)
Nucor had a mediocre quarter as its earnings dropped compared to the previous two quarters due to reduced shipping volumes and metal margin contraction, particularly at the company’s plate and sheet mills. However, the company delivered an all-around beat, largely driven by a strong performance for its Steel Products Segment. It introduces the first sustainable steel product, Elcyon, engineered particularly for Offshore Wind Energy Applications. The startup and construction of the company’s Nuco
Nucor managed to deliver an all-around beat as a result of strong performance in raw material operations, tabular, buildings, deck, joist, structural, sheet, plate, and bar. Various finished organic growth projects in the core steel marketing businesses of the company are contributing to the profitability of the company. The flexible and sustainable business model of Nucor proves its ability to grow and create values for its shareholders. The management continues to enhance its diversified portf
Nucor Corp is a renowned steel company and one of metals and mining giants across the globe. The company started off with 2022 on a positive note despite the war-related headwinds impacting the supply chain. The Russian invasion of Ukraine significantly impacted commodity markets and the supply chains of almost every industry resulting in pronounced volatility. Nucor appears to be dealing well with the situation. By the end of 2022, the management plans to have invested $4.1 billion in strategic
Companies: Nucor Corporation (NUE:NYS)Nucor Corporation (0K9L:LON)
This is our first report on steelmaker, Nucor Corp. The company started off with 2022 on a positive note despite the war-related headwinds impacting the supply chain. The Russian invasion of Ukraine significantly impacted commodity markets and the supply chains of almost every industry resulting in pronounced volatility. Nucor appears to be dealing well with the situation. By the end of 2022, the management plans to have invested $4.1 billion in strategic organic growth. Additionally, over the p
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Last week, JOG successfully secured its second GBA farmout, locking in a path to delivering zero-capex barrels. The surprisingly muted share price response to the farm-out leaves JOG trading at an unjustifiably large discount to our valuation. With a material fully funded development project under its belt and a clean balance sheet, JOG presents a very low-cost way to access high quality development barrels for investors and potential acquirers alike. If the threat of M&A does not narrow JOG’s v
Companies: Jersey Oil & Gas PLC
• 3Q23 production was 2,518 boe/d, near our forecast of 2,674 boe/d.
• Arrow held US$12.9 mm in cash at the end of September. This is ahead of our expectations of US$6.6 mm on lower capex and opex.
• Four new wells are expected to be on stream by YE23 including RCE 7, RCE-8 and two wells at Oso Pardo.
• Following interpretation of the recently shot 3D seismic at Tapir, Arrow plans to drill a total of 15 wells in 2024 including five exploration wells targeting 3 material and low risk exploration
Companies: Arrow Exploration Corp.
Plexus FY23 revenue and losses were in line with expectations. As well as the further development of its licensee relationship with SLB (Schlumberger), Plexus is focussed on its re-entry into the rental of exploration wellheads from Jack-up rigs, the sale of surface production wellheads and the provision of specialised solutions and applications to operators, particularly for Plug & Abandonment (P&A) work. Plexus won a substantial c£5m special project contract during the year, which was expanded
Companies: Plexus Holdings
Companies: CPH2 TIDE MRL BRCK JNEO
Alien and the Iron Ore Company of Australia (IOCA), continue to lay the foundations for operations at Hancock, one of its direct shipping iron ore (DSO) projects in Western Australia. Progress made to date ensures that, should a positive investment decision be made following the conclusion of Definitive Feasibility Studies (DFS), Hancock will be in operation and generating cashflow soon after capital is invested.
Companies: Alien Metals Ltd
• With the acquisition of interests in Sygna and Statfjord Øst expected to complete in January, the process to establish a stable well-funded producing business in Norway is almost complete. FY23 production at Sygna and Statfjord Øst net to Longboat Norge is ~250 boe/d.
• The acquisition of 49.9% of Longboat Norge by JAPEX in 2023 provides low cost capital and access to a strong balance sheet to develop further the Kveikje area and make acquisitions at no further dilution to Longboat plc.
Companies: Longboat Energy Plc
Companies: 88E GENI BMS CRU POS
CPH2 and ATOME have reached a mutual agreement to cease the previous production order made by ATOME. The CPH2 Board of Directors considers it is in the Company’s best of interests to focus its engineering and installation resources in ensuring roll out Membrane Free Electrolysers with current partners Fabrum Solutions Limited, KCA Deutag and, Northern Ireland Water. As part of the agreement, Molecular Energies has requested, and CPH2 has agreed to, a non-binding framework agreement with G-Mobili
Companies: Clean Power Hydrogen PLC
Jersey Oil & Gas, Serica Energy, Trinity Exploration & Production, Longboat Energy, Ithaca Energy, Neptune Energy, Pantheon Resources, Nostrum Oil & Gas, Kufpec, ORLEN.
Companies: TRIN LBE JOG
Companies: Good Energy Group PLC
Companies: Trident Royalties Plc
The front of this note takes a look at the UK oil and gas sector, why domestic production is advantageous, what the main political parties think, and what could happen going forward. The latter part contains a review of the companies in our coverage – some that are UK centric, which give exposure to the note’s wider theme, and others that are focused elsewhere.
Companies: TLOU PTAL HTG ENW ITM BLVN RKH HBR UJO GMS JOG MATD CEG GENL AXL
Companies: HZM BMN ATM CMCL THX EST GROC PRU
A summary of our hypothetical “Car Crash” commodity price scenario analysis is outlined in Table 1, which provides increased confidence, we believe, in i3 Energy's capacity to fund its dividend under adverse conditions. Notably, the dividend yield is an attractive 10.3%. Effectively, our analysis reinforces our view that i3 Energy is mispriced. Details for our “Car Crash” commodity price scenario are provided in Tables 2, 3, 4 and 5. We reiterate our 20.9p fair value estimate, which is premised
Companies: i3 Energy Plc
Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer released an update on its Greenfield Exploration activities in its Palito Complex. The exploration activity has been undertaken as part of the Exploration JV with Vale SA.
The update from the announcement today reflects the high prospectivity of the Palito complex. During the year, the company ran a programme of collecting 5,5k soil samples which have increased their first-pass surface geochemistry coverage
Companies: Serabi Gold PLC (SRB:LON)Serabi Gold PLC (SBI:TSE)