Latest news with #Anadarko
Yahoo
23-07-2025
- Business
- Yahoo
Gulfport Energy Schedules Second Quarter 2025 Earnings Release and Conference Call
OKLAHOMA CITY, July 23, 2025--(BUSINESS WIRE)--Gulfport Energy Corporation (NYSE: GPOR) announced today that it will host a teleconference and webcast to discuss its second quarter 2025 financial and operating results beginning at 9:00 a.m. ET (8:00 a.m. CT) on Wednesday, August 6, 2025. Gulfport plans to announce second quarter 2025 results on Tuesday, August 5, 2025, after market close. The conference call can be heard live through a link on the Gulfport website, In addition, you may participate in the conference call by dialing 866-373-3408 domestically or 412-902-1039 internationally. A replay of the conference call will be available on the Gulfport website and a telephone audio replay will be available from August 6, 2025 to August 20, 2025, by calling 877-660-6853 domestically or 201-612-7415 internationally and then entering the replay passcode 13754847. About Gulfport Gulfport is an independent, natural gas-weighted exploration and production company focused on the exploration, acquisition and production of natural gas, crude oil and NGL in the United States with primary focus in the Appalachia and Anadarko basins. Our principal properties are located in eastern Ohio targeting the Utica and Marcellus formations and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations. View source version on Contacts Investor Contact Jessica Antle – Vice President, Investor Relationsjantle@ 405-252-4550 Sign in to access your portfolio
Reuters
22-07-2025
- Business
- Reuters
ConocoPhillips nears sale of Oklahoma assets to Stone Ridge Energy, sources say
NEW YORK, July 22 (Reuters) - U.S. oil and gas producer ConocoPhillips (COP.N), opens new tab is in advanced talks to sell assets in Oklahoma to privately owned Stone Ridge Energy for around $1.3 billion, three people familiar with the matter told Reuters on Tuesday. Oklahoma City-based Flywheel Energy, a private oil and gas company backed by Stone Ridge Energy, will operate the assets on its backer's behalf, one of the sources said. The sources cautioned that no deal is guaranteed and talks could still end without an agreement. They also spoke on condition of anonymity to discuss private deliberations. ConocoPhillips declined to comment. Stone Ridge Energy, the energy-focused arm of New York-based Stone Ridge Asset Management, did not immediately respond to a request for comment. Flywheel, which also counts commodities trader Gunvor among its investors, did not immediately respond to requests for comment. Reuters reported in April that ConocoPhillips had hired investment bank Moelis & Co (MC.N), opens new tab to manage an auction of the assets, which are comprised of operations in the Anadarko basin inherited by the energy producer as part of its $22.5 billion takeover of Marathon Oil last year. As part of the deal, Stone Ridge Energy will acquire 300,000 net acres (121,406 hectares) in the Anadarko shale formation, which produce about 39,000 barrels of oil equivalent per day, of which about half is natural gas. If completed, the asset sale would help ConocoPhillips surpass a target to raise $2 billion from divestments. Conoco set that target after it took on about $5.4 billion of Marathon's debt as part of that acquisition.
Yahoo
03-07-2025
- Business
- Yahoo
Can Occidental Sustain and Increase its Dividend Amid Energy Cycles?
Occidental Petroleum Corporation OXY, an upstream oil and gas producer with integrated midstream and chemical operations, has made notable progress in strengthening its balance sheet and shareholder returns since the 2019 Anadarko acquisition. The company lowered debt by $6.8 billion in the past 10 months, which lowered its annual interest expenses by $370 million, boosting net income. The ongoing deleveraging effort has positioned it well to focus on increasing shareholder value, including strong free cash flow is underpinned by its low-cost, high-margin operations in the Permian Basin, complemented by steady contributions from international assets. This solid operational performance supports the company's dual focus on reducing debt and enhancing shareholder returns. In 2024, Occidental increased its dividend by 22%, underscoring management's commitment to delivering sustainable and disciplined capital company's diversified asset base, including its OxyChem segment and carbon capture ventures, adds resilience and optionality to earnings. These segments provide non-cyclical cash flows and position Occidental as a potential long-term energy transition player. Occidental's capital allocation strategy prioritizes returning excess free cash to its shareholders, with dividends forming a core component alongside company's enhanced financial position, operational efficiency and broad-based cash flow streams provide a strong foundation for maintaining and gradually increasing its dividend over time. Although exposure to commodity price fluctuations introduces an element of risk, Occidental's strategic discipline and capital prudence reinforce the credibility of its dividend growth outlook and offer investors confidence in the sustainability of the dividend policy. Oil and gas companies are enhancing shareholder value by consistently paying dividends, supported by strong cash flows and disciplined capital spending. These regular payouts reflect financial leading upstream oil and gas companies are ConocoPhillips COP and EOG Resources EOG, which are raising shareholder value through regular dividend payments. ConocoPhillips returned a total of $9.1 billion to shareholders in 2024, including $5.5 billion through share repurchases and $3.6 billion through Resources has a track record of stable and growing dividends spanning 27 years. EOG has never suspended or lowered its dividend, even during business turmoil, reflecting a solid underlying business. The stable performance of the company allowed its earnings to beat estimates in each of the last four reported quarters, the average surprise being 24.34%. Image Source: Zacks Investment Research Occidental's return on invested capital ("ROIC") is lower than the industry average in the trailing 12 months. ROIC of OXY was 6.26% compared with the industry average of 6.61%. Image Source: Zacks Investment Research Occidental's shares have gained 8.4% in the last three months compared with the Zacks Oil and Gas-Integrated-United States industry's rise of 8%. Image Source: Zacks Investment Research Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP) : Free Stock Analysis Report Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
03-07-2025
- Business
- Globe and Mail
Can Occidental Sustain and Increase its Dividend Amid Energy Cycles?
Occidental Petroleum Corporation OXY, an upstream oil and gas producer with integrated midstream and chemical operations, has made notable progress in strengthening its balance sheet and shareholder returns since the 2019 Anadarko acquisition. The company lowered debt by $6.8 billion in the past 10 months, which lowered its annual interest expenses by $370 million, boosting net income. The ongoing deleveraging effort has positioned it well to focus on increasing shareholder value, including dividends. Occidental's strong free cash flow is underpinned by its low-cost, high-margin operations in the Permian Basin, complemented by steady contributions from international assets. This solid operational performance supports the company's dual focus on reducing debt and enhancing shareholder returns. In 2024, Occidental increased its dividend by 22%, underscoring management's commitment to delivering sustainable and disciplined capital returns. The company's diversified asset base, including its OxyChem segment and carbon capture ventures, adds resilience and optionality to earnings. These segments provide non-cyclical cash flows and position Occidental as a potential long-term energy transition player. Occidental's capital allocation strategy prioritizes returning excess free cash to its shareholders, with dividends forming a core component alongside buybacks. The company's enhanced financial position, operational efficiency and broad-based cash flow streams provide a strong foundation for maintaining and gradually increasing its dividend over time. Although exposure to commodity price fluctuations introduces an element of risk, Occidental's strategic discipline and capital prudence reinforce the credibility of its dividend growth outlook and offer investors confidence in the sustainability of the dividend policy. How Oil & Gas Companies Are Raising Shareholders' Value? Oil and gas companies are enhancing shareholder value by consistently paying dividends, supported by strong cash flows and disciplined capital spending. These regular payouts reflect financial stability. Some leading upstream oil and gas companies are ConocoPhillips COP and EOG Resources EOG, which are raising shareholder value through regular dividend payments. ConocoPhillips returned a total of $9.1 billion to shareholders in 2024, including $5.5 billion through share repurchases and $3.6 billion through dividends. EOG Resources has a track record of stable and growing dividends spanning 27 years. EOG has never suspended or lowered its dividend, even during business turmoil, reflecting a solid underlying business. OXY Stock's Earnings Surprise History The stable performance of the company allowed its earnings to beat estimates in each of the last four reported quarters, the average surprise being 24.34%. Occidental's ROIC Lower Than the Industry Occidental's return on invested capital ("ROIC") is lower than the industry average in the trailing 12 months. ROIC of OXY was 6.26% compared with the industry average of 6.61%. OXY's Price Performance Occidental's shares have gained 8.4% in the last three months compared with the Zacks Oil and Gas-Integrated-United States industry's rise of 8%. Price Performance (Three months) OXY's Zacks Rank Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP): Free Stock Analysis Report Occidental Petroleum Corporation (OXY): Free Stock Analysis Report EOG Resources, Inc. (EOG): Free Stock Analysis Report
Yahoo
01-07-2025
- Business
- Yahoo
Sierra Leone Stakes Next Oil Frontier Claim
African countries have recently started making more and more headlines with their plans to develop local oil and gas reserves despite strong opposition from foreign environmentalist organisations and international lenders. The latest to join the oil and gas club is Sierra Leone. And it has big plans for its hydrocarbons. The small Western African state earlier this month concluded a round of seismic research that it now hopes would lure international oil majors in, after several discoveries that failed to produce commercial volumes of hydrocarbons. U.S. Anadarko and Russia's Lukoil were exploring in the country's waters but did not make any major find—although Anadarko struck potentially commercial oil at several offshore sites about a decade ago. Despite a tough start, hopes remain high, and Sierra Leone is planning a new licensing round later this year based on the results of the new survey. 'The reprocessing of that data is happening now with our multi-client partners, TGS, and we are hoping to get something to push to the market in October,' said the head of the country's Petroleum Directorate, as quoted by Reuters, last week. Foday Mansaray added that several oil majors had bought the new data, including Shell, Hess Corp., Murphy Oil, and Brazil's Petrobras. Nestled between Ivory Coast and Guinea, Sierra Leone has estimated hydrocarbon reserves of some 30 billion recoverable barrels of oil equivalent. Of this, an estimated 3 billion barrels lie in a single discovery made by Anadarko over 10 years ago: the Vega prospect. The prospect's development has stalled since its discovery, however, as the company concluded, based on early exploration, that it was not commercially viable. The same has happened to Anadarko's three other discoveries and Lukoil's Savannah discovery. It wasn't just that early exploration data. In 2014, Sierra Leone suffered an outbreak of Ebola, which interfered with its foreign investment plans, to put it mildly, and then the net-zero narrative started gathering pace, discouraging investors from betting on oil and gas. This only serves to highlight the change in sentiment over the past decade—and why oil and gas are so back. In its latest issue of the Statistical Review of World Energy, the Energy Institute reported that demand for oil and gas globally had increased for yet another year in 2024. The increase was modest, at 1% but still an increase, despite forecasts of peak demand for hydrocarbons. This increase was the result of a general rise in energy demand—which prompted a boost in oil, gas, and coal consumption. 'Electrification is accelerating, particularly across developing economies where access to modern energy is expanding rapidly. However, the pace of renewable deployment continues to be outstripped by overall demand growth, 60% of which was met by fossil fuels,' the president of the Energy Institute, Andy Brown, said at the release of the data. So, if the world is consuming ever more energy and wind and solar cannot meet it, then the world will continue needing oil and gas in still-growing volumes—and new sources of supply. This is why Sierra Leone has these high hopes and is investing in seismic surveys. Because legacy production regions are not going to produce forever. Petrobras is an example. The company recently said it has plans for international expansion with a focus on Africa. The reason: natural depletion at some of its fields at home. Petrobras is not alone in the hunt for new discoveries that have revived interest in African exploration. Italy's Eni recently acquired four new offshore blocks in Sierra Leone's neighbour, Ivory Coast, as part of a large-scale project that is supposed to be the first net-zero offshore oil development ever. TotalEnergies earlier in the year received an offshore exploration license for an offshore block in Sao Tome and Principe – an island off the western coast of Africa close to OPEC member Equatorial Guinea. Liberia has also joined the ranks of prospective future oil producers in Africa with a licensing round for as many as 29 blocks earlier this year. Given its proximity to the Ivory Coast and Senegal, and the similar geology, Sierra Leone has good reason for its energy hopes. But it's not just clinging to these hopes. The authorities in the West African state have cut red tape in order to facilitate foreign energy investment. 'From letter of intent to license, our process will not exceed 85 days. Our investment terms are very simple,' the Petroleum Directorate's Mansaray said earlier this year. In this, Sierra Leone is joining a trend across the continent. African governments are turning their backs on transition promises with little substance and instead turning to exploiting their countries' natural resources. As one now former Big Oil top executive said a few years ago, as long as there is demand for oil and gas, there will be supply. By Irina Slav for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
