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Yahoo
4 days ago
- Business
- Yahoo
Better Dividend Stock: Western Midstream vs. Energy Transfer
Key Points Energy Transfer and Western Midstream Partners have high distribution yields. The MLPs back their payouts with stable cash flow and strong financial profiles. Both have solid growth prospects. 10 stocks we like better than Energy Transfer › Energy Transfer (NYSE: ET) and Western Midstream Partners (NYSE: WES) are among the largest master limited partnerships (MLPs). These midstream companies generate stable cash flow, much of which they pay out to investors. Energy Transfer's distribution yields 7.5%, and Western Midstream's is over 9%. Most investors will likely prefer to own only one of these MLPs, especially due to the potential tax complications associated with the annual Schedule K-1 federal tax forms they send to investors. Here's a look at which MLP is the better buy for those seeking sustainable, growing dividend income. Drilling down into their operations Energy Transfer and Western Midstream operate diversified energy midstream networks. Western Midstream serves the Delaware, DJ, and Powder River basins. It primarily gathers, treats, processes, and transports natural gas, NGLs, and crude oil, as well as provides water disposal services. It generates fee-based income secured by long-term contracts. Energy Transfer offers broader diversification, as it serves a range of commodities, including natural gas, NGLs, crude oil, and refined products. Its integrated wellhead-to-water system features over 130,000 miles of pipelines linking gathering and processing assets, storage facilities, and export terminals. About 90% of its earnings are fee-based. Energy Transfer's larger, more diversified infrastructure business model reduces risk and increases its growth potential. There are other notable differences between these MLPs. Oil giant Occidental Petroleum is one of Western Midstream's largest customers and holds a 44.8% direct interest in the MLP, as well as a 2% stake in its operating company. Energy Transfer, on the other hand, doesn't have a single significant customer or a large controlling shareholder. Instead, the company controls two other MLPs (Sunoco and USA Compression), which supply it with additional income and enhance its growth profile. Comparing their financial positions A high dividend yield can sometimes signal financial distress, but that's not the case with these MLPs. Energy Transfer is in the best financial position in its history. Its leverage ratio is now in the lower half of its target range of 4.0-4.5 times. Additionally, the MLP generates enough cash to cover its payout by more than two times, providing it with the flexibility to invest in growth projects and make acquisitions. Western Midstream also maintains a strong financial position, backed by a leverage ratio currently below 3.0x. While Western Midstream has a higher payout ratio, it expects to generate sufficient free cash flow this year to cover its capital expenditures with some room to spare. As a result, it also has ample financial flexibility to make bolt-on acquisitions and approve additional organic expansion projects. A look at their growth profiles Energy Transfer plans to invest $5 billion in growth capital projects this year, including a major new natural gas pipeline, several additional gas processing plants, and increased export capacity. Those projects should fuel accelerated earnings growth in the 2026-2027 time frame. Meanwhile, the company has several more expansion projects under development, including its Lake Charles LNG export terminal. Energy Transfer also has the financial capacity to continue its industry consolidation strategy (it typically makes one multibillion-dollar acquisition per year to enhance its capabilities and drive growth). These growth investments support Energy Transfer's outlook for 5% earnings growth this year, which should accelerate in 2026. That backs its plans to increase its high-yielding distribution by 3% to 5% annually. Meanwhile, Western Midstream expects its 2025 capital spending to be between $625 million and $775 million, with 65% allocated to growth initiatives. It aims to use its financial flexibility for additional organic expansions and accretive bolt-on acquisitions as opportunities arise. These growth investments should drive mid-single-digit cash flow and distribution growth. High-quality, high-yielding investments Western Midstream and Energy Transfer offer high-yielding distributions, backed by stable cash flows and strong financial profiles. As a result, either would be a solid option for those seeking to generate passive income. However, Energy Transfer's greater diversification reduces risk and provides it with more growth potential. Those features make it a better choice for investors seeking a sustainable, growing income stream. Do the experts think Energy Transfer is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Energy Transfer make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,034% vs. just 180% for the S&P — that is beating the market by 853.75%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,023,813!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Matt DiLallo has positions in Energy Transfer. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy. Better Dividend Stock: Western Midstream vs. Energy Transfer was originally published by The Motley Fool
Globe and Mail
18-07-2025
- Business
- Globe and Mail
Snow Lake Advances Uranium Projects in Wyoming and Namibia in Support of U.S. Policies on National & Energy Security
Winnipeg, Manitoba--(Newsfile Corp. - July 18, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) (" Snow Lake"), a uranium exploration and development company, provides an update on progress at its uranium projects in Wyoming and Namibia, together with how the exploration and development of such projects hold the potential to directly support U.S. national and energy security objectives. Highlights Drill rigs set to start turning the week of July 21, 2025 at the flagship Pine Ridge uranium project (" Pine Ridge") in Wyoming Pine Ridge is a 50/50 joint venture (the " Joint Venture") between Snow Lake and Global Uranium and Enrichment Limited (" GUE") The drill campaign at Pine Ridge is planned to undertake a total of ~38,000m (125,000ft) of drilling Pine Ridge is a near development In-Situ Recovery (" ISR") uranium project located in the heart of Wyoming's prolific Powder River Basin primed for rapid advancement The objective of the current drill program at Pine Ridge is to produce a maiden resource estimate prior to the end of 2025 The Engo Valley uranium project (" Engo Valley") Phase 2 drill program continues, and is planned to consist of up to approximately 7,500 meters of a combination of reverse circulation and diamond drilling Phase 2 is designed to provide a drill database sufficient to calculate a maiden uranium resource estimate in accordance with SK-1300 prior to the end of 2025 U.S. Administration executive orders on nuclear energy and domestic production of critical minerals, including uranium, provide significant tailwinds to support the development of our Pine Ridge and Engo Valley projects CEO Remarks "The U.S. needs more uranium mines in order to achieve its policy objectives of national and energy security. We are of the firm belief that our Pine Ridge uranium project in Wyoming holds the potential to become one of those new uranium mines," said Frank Wheatley, CEO of Snow Lake. "With the commencement of drilling at Pine Ridge, our drilling programs on our Pine Ridge uranium project in Wyoming, and our Engo Valley uranium project in Namibia, are now in full swing, and our objective for both projects is to produce a maiden resource estimate prior to year end." Mr. Wheatley continued:"With unprecedented demand for electricity, coupled with the U.S. Administrations strong support for nuclear energy to ensure U.S. national and energy security, we are excited to begin our drill program at Pine Ridge, which we feel has all the characteristics of a leading U.S based uranium development project that holds the potential to positively contribute to satisfying the U.S. goals of energy security." U.S. Administration Support of Uranium Mining The U.S. Administration has issued a number of executive orders that directly support the development of nuclear energy, and the domestic production of critical minerals, including uranium. In May, 2025, the U.S. Administration issued four executive orders (the " Nuclear Executive Orders"), designed specifically to accelerate the deployment of nuclear energy in the U.S. as the AI arms race between the U.S. and China heats up, and which will help fast-track Snow Lake's Pine Ridge uranium project development timelines. The Nuclear Executive Orders are designed to Combined with all previous Executive Orders on critical minerals, these orders will: Dramatically increase global demand for uranium Accelerate U.S. domestic uranium mining The AI arms race between the U.S. and China continues to heat up, and is driving massive: Investments in data centres to drive the AI revolution Demand for nuclear energy to power data centres Demand for uranium, including new uranium mines, to power nuclear reactors Acceleration of Pine Ridge Development Timelines The Executive Orders have the potential to fast-track Pine Ridge through development, permitting, and into production Drill Program at Pine Ridge The Joint Venture has selected Single Drilling to execute its initial drilling program at Pine Ridge. Single Drilling brings extensive operational experience, having successfully completed numerous previous drilling campaigns at the Pine Ridge site. Their familiarity with Pine Ridge is expected to support an efficient and well-executed program, with the potential addition of a second rig to accelerate progress. In addition, the Joint Venture has engaged Hawkins CBM Logging, Inc. as the geophysical contractor to provide specialized support for the drill program. Pine Ridge is an advanced ISR opportunity of significant scale within the Powder River Basin of Wyoming, the premier US uranium basin. It is also located in one of the most mining friendly states. Pine Ridge has been significantly de-risked through historical drilling and has an ideal geological foundation to be developed into a production asset. The 2025 exploration program will focus on testing high-priority target areas, with approximately 38,000 m (125,000 ft) of drilling to be completed to rapidly advance the project. The determination of targets has been guided by extensive data compilation from prior historical drilling and geological review. The expected start date for drilling is July 21, 2025. Drill Program at Engo Valley The Phase 2 drill program (" Phase 2") at Engo Valley has been designed to follow up on the Phase 1 drill program completed in 2024, and will focus on the MUO and D1 target areas The objective of Phase 2 is to develop a drill data base sufficient to calculate a maiden mineral resource estimate for Engo Valley by the end of 2025. To date, a total of 21 infill RC holes have been completed in the MUO, 6 infill RC holes within the D1 North area, and 4 RC holes were completed in the MUO-D1 area. The diamond drilling segment of Phase 2 started in June, 2025. A total of 19 diamond drill holes are planned for the MUO and 8 diamond drill holes are planned to be drilled in the D1 area. Downhole radiometrics will be completed on each drill hole with a gamma spectrometer probe. About Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on Nasdaq:LITM, with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba, as well as investments in a number of public companies with critical minerals assets. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Pine Ridge Uranium Project Overview Pine Ridge is an advanced ISR uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. Figure 1: Pine Ridge Uranium Project and Adjacent Properties To view an enhanced version of this graphic, please visit: Pine Ridge is surrounded by existing uranium projects held by UEC and Cameco and is also located only ~15km from Cameco's Smith Ranch Mill which has licensed capacity of 5.5Mlbs U 3 O 8 p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S. Pine Ridge is a uranium project of potential significant scale with a large JORC 2012 exploration target. For more information on this exploration target, please refer to GUE's website 1. 2025 Exploration Program The Joint Venture has consolidated the existing historical data on the project area and integrated it with available public information from nearby projects to develop a 3D model of the known mineralization and potential mineralization. The results of this data compilation and evaluation led to the staking of an additional 937 claims at Pine Ridge and increasing the Joint Venture's landholding to a total of approximately 15,130 ha (37,387 acres). In addition, the understanding and results from the data compilation and geological review has guided the development of high-priority drill targets in the area (shown in red below), with approximately 38,000 m (125,000 ft) of drilling to be completed inside these areas during the initial exploration program. To view an enhanced version of this graphic, please visit: Conoco drilled 765 holes into the project area and the prior owners of Pine Ridge drilled an additional 449 holes. Their drill campaigns were primarily designed to continue building on the geologic understanding of the project while testing key areas for uranium potential. The results from these drill campaigns allowed the prior owners to develop a model that included 335 km of redox boundaries hosted in stacked horizons within the Tertiary sandstones. This interpretation is further supported by adjacent ISR properties with published resources. Engo Valley Uranium Project Overview The Engo Valley Uranium Project is located in the Skeleton Coast, in the Opuwo District of the Kunene Region, along the coast of northwest Namibia, approximately 600 kilometers north of Swakopmund, Namibia (see Figures 1 and 2). Uranium mineralization was discovered in 1973 and exploration was conducted intermittently by Gencor between 1974 and 1980. The Engo Valley Uranium Project is considered to be a top tier exploration project. The project is accessible from the south via 190km of desert track roads from Mowe Bay, via the Sarusas mine. To the east there are unconfirmed track roads that connect the project area to the settlement of Orupembe. Exclusive Prospecting License Prospecting License EPL 5887 (the " License") is registered in the name of the Project Company and covers a surface area of approximately 68,283 hectares (see Figure 2). The License was granted for industrial minerals, non-nuclear fuel minerals, nuclear fuel minerals, precious metals and precious stones, which includes uranium. A valid environmental clearance certificate has been issued by the Namibian Ministry of the Environment to the Project Company, allowing exploration work to be undertaken on the License. Current Uranium Operations in Namibia Namibia hosts many proven uranium deposits, including 3 major deposits, 2 of which are currently in production: Rossing Mine: One of the largest open pit uranium mines in the world, operating since 1976, currently producing 3,711 tonnes of uranium oxide per annum; 8% of the global output. By the end of 2021, Rossing had supplied 142,908 tonnes of uranium oxide. Husab Mine: Swakop Uranium started development of the mine in 2013 and production started at the end of 2016. The main part of the Husab mine is the Rossing South orebody, about 5 kilometers south of the Rossing mine and 45 kilometers north east of Walvis Bay, producing about 5,500 tonnes of uranium oxide per annum. Langer-Heinrich Mine: One of the largest uranium reserves in Namibia having estimated reserves of 57,000 tonnes of ore grading 0.055% uranium, with the past producing mine currently in process of resuming operations. Figure 1: The Engo Valley Uranium Project (EPL 5887) To view an enhanced version of this graphic, please visit: Figure 2: The Engo Valley Uranium Project, indicating "Angra Fria" or Cape Fria, the site of a proposed 3 rd Namibian Atlantic port. 2 To view an enhanced version of this graphic, please visit: Geological Setting - Engo Valley Uranium Project In the Engo Valley Uranium Project, uranium mineralization occurs in the sedimentary strata of the Karoo Sequence: as an unconformity-related in a fluvio-glacial alluvial fan type deposit in the of the Dwyka Formation and has potential for a roll-front type deposit in the Engo Formation. Uranium mineralization occurs as disseminated carnotite in the clastic sediments of the Dwyka Formation and as fine-grained uraninite in the black shale and the pink sandstone of the Engo Formation. The pink sandstone has not been adequately investigated. The Munutum and Natas Valley area east of the Engo Valley area also has not been adequately explored. Historical airborne radiometric data indicates the potential for a shallow calcrete-hosted uranium mineralization. Historical Exploration Gencor conducted an exploration / reconnaissance program intermittently between 1974 and 1980. The program was comprised of airborne radiometric survey, ground radiometric survey, geological mapping, diamond and percussion drilling, limited resistivity work and limited radon etch survey. A total of 5,784 meters of drilling were completed, including 1,061 meters of diamond drilling. The airborne radiometric survey was confined to the western side of the License along the Engo Valley paleochannel. The survey delineated four anomalies, named D1, D2, D3 and D4. D1 was further delineated into three anomalies named D1 Extension, Main Uranium Occurrence (MUO), and Louw's Valley. Most of the historical exploration was focused in D1 and most of the drilling was concentrated in the MUO. The drilling was widespread, non-systematic and non-grid pattern. An untested anomaly, named D5, has not been evaluated for uranium and covers an area of 14 square kilometers with a strike length of 7 kilometers. A historic, non-compliant S-K 1300 mineral resource estimate was completed by Gencor in the 1970's on the MUO and D1 Extension. Phase 1 Drill Program The Phase 1 drill program (" Phase 1"), completed in 2024, consisted of 1,570 meters of reverse circulation drilling in 20 holes. A total of 8 drill holes were completed on the Main Uranium Occurrence (" MUO"), 5 drill holes were completed on the D1 target area (" D1"), and 7 holes were completed on a variety of targets identified by the radon cup survey (the " Radon Survey"), also completed in 2024 by Snow Lake. Phase 1 was designed to confirm historical uranium mineralization, identified in the sandstones and conglomerates at the MUO and D1 in the 1970's, through twinning historical drill holes and starting an in-fill grid pattern between the historical drill holes. Downhole radiometrics were completed on each Phase 1 drill hole with a gamma spectrometer probe. The reader is cautioned that Snow Lake uses eU 3 O 8 calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Snow Lake considers all eU 3 O 8 readings below 50 ppm as background radioactivity, and not mineralised ground. Notable results from the downhole radiometrics include: Mineralized intersection of 232 ppm eU 3 O 8 over a 4 meter (" m") interval from 11 m depth, associated with sandstone, observed from drill hole ERCH001 Mineralized intersection of 251 ppm eU 3 O 8 over a 3 m interval at 25 m depth, associated with sandstone, observed from drill hole ERCH001 Mineralized intersection of 244 ppm eU 3 O 8 over a 13 m interval from 17 m depth, associated with sandstone, observed from drill hole ERCH002 Mineralized intersection of 183 ppm eU 3 O 8 over a 2 m interval from 34 m depth, associated with sandstone, observed from drill hole ERCH002 Mineralized intersection of 269 ppm eU 3 O 8 over a 7 m interval from 27 m depth, associated with sandstone, observed from drill hole ERCH007 Mineralized intersection of 225 ppm eU 3 O 8 over a 9 m interval from 62m depth, associated with shale, observed from drill hole ERCH009 Mineralized intersection of 260 ppm eU 3 O 8 over a 6 m interval from 19m depth, associated with shale, observed from drill hole ERCH010 Qualified Person Technical information in this news release has been reviewed and approved by Milton Misihairabgwi (AusIMM), a professional geologist with Namib Geological Services, who is a Qualified Person as defined by the Securities and Exchange Commission's Regulation S-K 1300. Update - Phase 2 Drill Program The Phase 2 drill program is planned to consist of up to approximately 7,500 meters of a combination of reverse circulation and diamond drilling, and is designed to provide a drill database sufficient to calculate a uranium maiden resource estimate in accordance with SK-1300 A total of 21 infill RC holes have been completed in the MUO, 6 infill RC holes within the D1 North area, and 4 RC holes were completed in the MUO-D1 area. Downhole radiometrics were completed on each drill hole with a gamma spectrometer probe. The reader is cautioned that Snow Lake uses eU 3 O 8 calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Snow Lake considers all eU 3 O 8 readings below 50 ppm as background radioactivity, and not mineralised ground. Notable results from the downhole radiometrics on the first segment of drilling include: Mineralized intersection of 997 ppm eU 3 O 8 over a 7 m interval, associated with shale, observed from drill hole ERCH025 Mineralized intersection of 296 ppm eU 3 O 8 over a 1.2m interval, associated with shale, observed from drill hole ERCH026 Selection and preparation of samples for wet chemical analysis is in progress. Samples will be submitted to ALS laboratories. Analysis of data from the Phase 1 drill program samples did confirm that radiometric grades are reliable and can be used as equivalent radiometric grades. Sampling is undertaken on each meter interval. Selective sampling of drill holes using downhole radiometric grades has been carried out based on this diamond drilling segment of the Phase 2 drill program started in June, 2025. A total of 19 diamond drill holes are planned for the MUO and 8 diamond drill holes are planned to be drilled in the D1 area. The objective of the Phase 2 drill program is to develop a drill data base sufficient to calculate a maiden mineral resource estimate for Engo Valley by the end of 2025. Phase 2 is focused on the MUO, and the D1 target area. See Figure 1. To view an enhanced version of this graphic, please visit: Assuming the Phase 2 drill program continues to go according to plan and assay results are received in a timely fashion, the preparation of a maiden mineral resource estimate for Engo Valley is targeted for completion before the end of 2025.
Yahoo
04-07-2025
- Business
- Yahoo
Anschutz: Powder River's Winning Factor? Vast Potential
[Editor's Note: This story is part of an ongoing series focused on the top private producers in the Lower 48, including Veteran, Newly Listed Private Producers on Top 100 Hungry for M&A and Right Risk, High Return: Aethon Jumps on Elevated NatGas Prices] Operations in the Rockies are complex from both a regulatory and a takeaway standpoint. Regulations are tight. Terrain is tough. The weather, challenging. And access to takeaway can be inconsistent. 'But we're a private company, and it fits us better because we have a longer time frame and a longer view,' Anschutz Exploration CEO Joseph DeDominic told Hart Energy. Indeed, those potential drawbacks were a key part of what made the Rockies a good focal point when the firm was streamlining its portfolio. DeDominic said the reason Anschutz chose the Rockies' Powder River Basin region as its base of operations comes down to one word: competition. Anschutz considered the Permian Basin, which has been white-hot for most of the oil and gas business' history, but the competition there was a hassle, particularly from a price perspective. 'Our company's name is Anschutz Exploration, right? We're a front-end, technical-based company. We're a greenfield company. We want to do geological work. We want to identify the areas; we want to buy leases; and we have the patience to do that because we're private.' And as shale runway tightens, inventory in plays like the Permian is growing scarce. Meanwhile, the Rockies has room to grow. 'Over time, I think you'll see the publics moving more into the Rockies. Or at least if nothing else, more investment from private equity, maybe first, then public companies after that,' he said. Last year Occidental Petroleum sold its northern Powder River Basin assets to Anschutz, excluding land in Converse and Niobrara counties, amounting to about 200,000 acres according to public documents filed during the third quarter. The company came by the Powder assets with its blockbuster acquisition of Anadarko Petroleum in 2019 and had begun a divestiture campaign of non-core assets last year to reduce debt from its more recent $12 billion purchase of Permian Basin producer CrownRock. 'We saw early on that the southern part of the Powder River Basin was by far the most contiguous and the part that we felt like we could get the most value out of,' Oxy CEO Vicki Hollub said during the company's third-quarter earnings call. The company sold off the northern assets to Anschutz 'because it's in a better area for them to be able to develop,' she said. As such, Anschutz is in the early stages of developing those assets, which are far less mature than those in the north, DeDominic said. Anschutz maintains a five-year plan that refreshes with each passing year. From the start, DeDominic said, the team put in the time to invest in the technical work of identifying the best areas to buy prime leases, add critical infrastructure and develop surface assets. 'We have good wells, and we have a low-cost structure. Part of that is driven by being private; we're a very lean organization,' he said. 'We're keeping our head down and staying focused on what matters for the company and how to make the best decisions. 'We're looking longer term. We're not like a public worrying about quarterlies or the one year by hitting those targets in the near term and having to go meet with investors or do roadshows. We're in the same building; we go upstairs two floors and meet with Mr. Anschutz.' Moreover, its single-owner status affords certain flexibility that public companies cannot enjoy. 'The financial returns of the company are important, but from year-to-year, there's some investors who want an annual dividend or an annual return,' DeDominic said. 'We can go a couple of years—not that we're doing that right now—but we could go a couple of years where we outspend or we buy some more assets, and we can live through that. We're a little bit different just due to our ownership.' Since emerging from the pandemic, production growth has been in the low double digits, between 10% to 12% annually and will continue at that pace, which can 'throw off quite a bit of free cash' for acquisitions or reinvestment in the company. Current production is oil-focused, composing 63% of the resource mix, which is 'a little bit outside the norm,' DeDominic said. There are significant gas resources across the company's footprint, and Anschutz is testing and appraising those sites. 'I believe, like a lot of folks, that natural gas prices will be higher in the future, and so the economics will look better to drill more gas wells in the next five to 10 years,' he said. 'In the long term, our five-year plan has this somewhere around 58% oil to 56%, rather than the 62% to 63% we are today. It's not huge, we still have a lot of oil remaining in our assets, but we'll do more gas drilling and start to build that [gas] volume over time.' DeDominic joined Anschutz in 2014 as president and COO, succeeding William J. Miller when he moved to a senior vice president role with parent company Anschutz Corp. DeDominic, a geologist, had previously worked in operations at firms including Santos U.S.A., Sanchez Energy and Occidental Petroleum, where he began his career. During the two decades he worked at Oxy, DeDominic deployed his expertise in Colombia, Libya and as president and general manager for the firm's Williston Basin enterprise. Meanwhile, Anschutz Exploration was beginning to streamline its footprint across the Lower 48. Between November 2010 and July 2011, the Denver-based producer divested more than $2.3 billion worth of Williston and Marcellus assets. In December 2010, Oxy USA bought the Williston properties that Anschutz owned in Dunn County, North Dakota, for $1.4 billion, according to Hart Energy's supplement to Oil and Gas Investor magazine, the 2012 North American Unconventional Yearbook. The Dunn County divestiture was one of three M&A deals Anschutz made during that nine-month period, and it's the one that brought DeDominic into the Anschutz orbit. He remained in touch with owner Phillip Anschutz and grew familiar with the firm's guiding principles and business model. When the opportunity to join the private firm emerged in late 2013, DeDominic decided it would be a good step to take after years spent working at public companies which, he said, 'worked out very well.' Anschutz was focused on emerging shale oil plays, and in 2015, held leases on more than 1 million net acres, mostly in Texas, Montana, Colorado and New York. It was time again to restructure the footprint. 'At that time there was a dip in oil prices, and the company had a number of assets scattered around the Lower 48. We cleaned it up and completed a strategic deep dive on where we wanted to focus, and we decided to focus on the Northern Rockies,' he told Hart Energy. Anschutz built out the technical and geoscience teams and narrowed its target to a number of different areas of interest. But the Powder River Basin was number one. 'That focus has allowed us—from doing that foundational work up front—to really grow the company successfully, not just from a well performance standpoint, but from a financial standpoint,' he said. 'We're one of the top operators in Wyoming, and we have assets in Utah and Colorado as well.' In the Powder this year, Anschutz has charged ahead with 3-mile laterals in the oily stacked play of Wyoming. The firm has already grown production from its 2024 average of 48,000 boe/d to top its 2025 target of 60,000 boe/d net production. 'When you drill cubes or bigger pad developments, you get some ups and downs,' DeDominic said. 'We do live within our cash flow as a company, so we are cash flow positive, even under these volatile times, and we'll continue to do so. We can do that and grow the company.' Much has been said about 'peak oil' this year, as 'I do think personally we are at peak oil, or we are getting pretty close. If not now, it's not too far away, I think there's a limit to how many stacked pay resources there are available in the Lower 48. 'The resource play has been going on for 15-plus years. It's not going to last forever, there's only so much inventory, and it's starting to get consolidated.' RELATED VanLoh: Continued US Oil Growth at $63 is a 'Dangerous Assumption' Operators will be thoughtful on how they develop inventory with a goal of extending the life of the resource and growing their companies at their own pace, but there are limits. Mature basins in North Dakota, the Eagle Ford and elsewhere are 'getting a little long in the tooth.' 'I know they still have a lot of recompletions and infill drilling and everything else, but that's not going to drive production higher; it's going to keep it flat at best. 'I think the peak is going to be generally flattish,' DeDominic said. 'There will be some decline, but I think it could easily extend five to 10 years without a big drop.' Sign in to access your portfolio
Yahoo
02-07-2025
- Business
- Yahoo
Drill Rigs Set to Commence Major Exploration Program at Pine Ridge Uranium Project
Winnipeg, Manitoba--(Newsfile Corp. - July 2, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that its 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE"), has selected Single Water Services LLC ("Single Drilling") to execute its initial drilling program at the Pine Ridge Uranium Project in Wyoming ("Pine Ridge"). Highlights Drill rigs set to commence as the Joint Venture launches a major ~38,000m (125,000ft) drill campaign at its flagship Pine Ridge uranium project Drill contractors officially engaged with operations commencing on July 21, 2025 Drill program will systematically test numerous high priority targets to fast-track delineation of ISR-amenable uranium resources Pine Ridge is a near development In-Situ Recovery ("ISR") uranium project located in the heart of Wyoming's prolific Powder River Basin primed for rapid advancement CEO Remarks "We continue to advance the Pine Ridge Uranium Project with the selection of Single Drilling to undertake an expansive drill program at Pine Ridge," said Frank Wheatley, CEO of Snow Lake. "Single Drilling is very familiar with Pine Ridge as they conducted a significant portion of the historical drilling at Pine Ridge." Mr. Wheatley continued: "With global demand for electricity continuing to rapidly expand, driven in part by the AI arms race between the U.S. and China, nuclear energy continues to emerge as a clean, reliable and cost-effective solution to satisfy this demand. Bolstered by the U.S. Administration's support for nuclear energy, we feel Pine Ridge has all the characteristics of a leading uranium development project." Drill Program at Pine Ridge The Joint Venture has selected Single Drilling to execute its initial drilling program at Pine Ridge. Single Drilling brings extensive operational experience, having successfully completed numerous previous drilling campaigns at the Pine Ridge site. Their familiarity with Pine Ridge is expected to support an efficient and well-executed program, with the potential addition of a second rig to accelerate progress. In addition, the Joint Venture has engaged Hawkins CBM Logging, Inc. as the geophysical contractor to provide specialized support for the drill program. Pine Ridge is an advanced ISR opportunity of significant scale within the Powder River Basin of Wyoming, the premier US uranium basin. It is also located in one of the most mining friendly states. Pine Ridge has been significantly de-risked through historical drilling and has an ideal geological foundation to be developed into a production asset. The 2025 exploration program will focus on testing high-priority target areas, with approximately 38,000 m (125,000 ft) of drilling to be completed to rapidly advance the project. The determination of targets has been guided by extensive data compilation from prior historical drilling and geological review. The expected start date for drilling is July 21, 2025 with drilling permits expected to be received imminently. Overview - Pine Ridge Pine Ridge is an advanced ISR uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. Figure 1: Pine Ridge Uranium Project and Adjacent Properties To view an enhanced version of this graphic, please visit: Pine Ridge is surrounded by existing uranium projects held by UEC and Cameco and is also located only ~15km from Cameco's Smith Ranch Mill which has licensed capacity of 5.5Mlbs U3O8 p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S. Pine Ridge is a uranium project of potential significant scale with a large JORC 2012 exploration target. For more information on this exploration target, please refer to GUE's website1. Exploration Program The Joint Venture has consolidated the existing historical data on the project area and integrated it with available public information from nearby projects to develop a 3D model of the known mineralization and potential mineralization. The results of this data compilation and evaluation led to the staking of an additional 937 claims at Pine Ridge and increasing the Joint Venture's landholding to a total of approximately 15,130 ha (37,387 acres). In addition, the understanding and results from the data compilation and geological review has guided the development of high-priority drill targets in the area (shown in red below), with approximately 38,000 m (125,000 ft) of drilling to be completed inside these areas during the initial exploration program. Figure 2: Priority Areas for 2025 Exploration Program at Pine Ridge To view an enhanced version of this graphic, please visit: Conoco drilled 765 holes into the project area and the prior owners of Pine Ridge drilled an additional 449 holes. Their drill campaigns were primarily designed to continue building on the geologic understanding of the project while testing key areas for uranium potential. The results from these drill campaigns allowed the prior owners to develop a model that included 335 km of redox boundaries hosted in stacked horizons within the Tertiary sandstones. This interpretation is further supported by adjacent ISR properties with published resources. About Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on Nasdaq:LITM, with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba, as well as investments in a number of public companies with critical minerals assets. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Contact and InformationFrank Wheatley, CEO Investor RelationsInvestors:ir@ Follow us on Social MediaTwitter: 1 To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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19-06-2025
- Business
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Noble Plains Uranium Secures Duck Creek Project in Heart of Powder River Basin Uranium District
Over 4,000 Historic Drill Holes Outline 3-Mile Uranium Trend in One of America's Most Prolific ISR Districts Vancouver, British Columbia--(Newsfile Corp. - June 19, 2025) - Noble Plains Uranium Corp. (TSXV: NOBL) (OTCQB: IXIXF) (FSE: INE0) ("Noble Plains" or the "Company") is pleased to announce that it has entered into a property option agreement to acquire an 80% interest in the Duck Creek Project ("Duck Creek Property", "Duck Creek", the "Project", or the "Property"), a strategically located brownfield uranium asset in Wyoming's highly productive Powder River Basin. The Project spans 4,133 acres (6.5 square miles) of mineral rights and is directly surrounded by a cluster of major in-situ recovery ("ISR") uranium resources and operations—including those held by Uranium Energy Corp., Cameco Corporation, and GTI Energy Limited (see Figure 1). These neighboring operations, together with the Project's dense historical drill coverage and shallow roll-front mineralization, strongly support the prospectivity and strategic value of Duck Creek. "Duck Creek sits in the heart of a proven uranium district and is backed by an enormous amount of historical drilling, giving us high confidence in the geological potential," said Drew Zimmerman, President of Noble Plains. "This is exactly the kind of brownfield project we target—shallow mineralization, extensive data, and near existing infrastructure. It aligns with our goal of building out pounds in the ground quickly and efficiently to provide shareholders real leverage to the uranium market." The Property includes 78 lode mining claims (1,573 acres) and four State of Wyoming mineral leases (2,560 acres). Importantly, the Project hosts a 3-mile-long corridor of high-density drilling completed by Kerr-McGee Nuclear Corporation in the 1970s. A total of 4,068 historical drill holes outline a consistent, shallow roll-front uranium system within the Eocene-aged Wasatch Formation, with mineralization occurring from less than 50 feet to 260 feet below surface. Surface features also show evidence of historic open-pit production from these same mineralized zones (see Figure 2). "The Powder River Basin is reasserting its importance as a centre of U.S. uranium production," added Paul Cowley, CEO of Noble Plains. "Our review of the historic dataset for Duck Creek confirmed not only the continuity of near-surface mineralization, but also significant upside in the untested deeper Fort Union Formation which hosts resources and production from many of our neighbours. It's a rare combination of near-term development potential and meaningful exploration upside." Figure 1: Duck Creek Project Surrounded by resource and production projects To view an enhanced version of this graphic, please visit: Note: source of resource numbers: Allemand-Ross, Barge, and Ludeman projects, from 2022-09 technical report Exhibit 96.1. Smith Ranch Highland, from Cameco website. Lo Herma, from company website. Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the Duck Creek Project. Figure 2: 3-mile-long trend of high-density historic drilling and historic production areas To view an enhanced version of this graphic, please visit: A National Instrument 43-101 ("NI 43-101") technical report is nearing completion and will present an exploration target of pounds of uranium based on the historical drilling, prepared by an independent Qualified Person. Noble Plains has spent the last two months conducting a detailed review of the drillhole database and modeling key mineralized zones, and the Company is confident in both the data quality and the resource potential. Confirmation drilling is planned for later this year to advance the Project toward an initial NI 43-101 compliant resource estimate. Strategic Context Wyoming has produced over 238 million pounds of uranium since the 1950s, with the Powder River Basin(the "PRB") representing a key district in that legacy of production. With ISR now the dominant extraction method in the PRB and Wyoming overall, Duck Creek represents a low-impact, low-cost path to resource development. ISR mining allows for faster permitting, minimal surface disturbance, and lower capital and operating costs-aligned with Noble Plains' strategy of environmentally responsible uranium development. The addition of Duck Creek significantly strengthens Noble Plains' Wyoming portfolio, following the Company's recent acquisitions in the Shirley Basin, including the Shirley Central project announced earlier this month (see news release dated June 3, 2025). Terms of Transaction The Company has entered into a property option agreement (the "Agreement") effective June 13, 2025, with a private vendor (the "Optionor") pursuant to which the Company can acquire an 80% interest in the Duck Creek Property over three years. Pursuant to the Agreement and within seven days of TSX Venture Exchange approval, the Company will (a) pay US$250,000 to the Optionor; (b) reimburse the Optionor staking costs and Bureau of Land Management fees; and (c) issue 1,250,000 shares of Noble Plains ("Shares") to the Optionor. On or before the first anniversary of the Agreement, the Company will (a) pay a further US$300,000 to the Optionor, and (b) issue 1,500,000 Shares to the Optionor (or pay US$200,000 to the Optionor at the Optionor's option). On or before the second anniversary of the Agreement, the Company will (a) pay a further US$450,000 to the Optionor, and (b) issue 1,500,000 Shares to the Optionor (or pay US$300,000 to the Optionor at the Optionor's option). On or before the third anniversary of the Agreement, the Company will (a) pay US$500,000 to the Optionor, and (b) issue 1,250,000 Shares to the Optionor (or pay US$400,000 to the Optionor at the Optionee's option), at which time a joint venture will be created on a 80:20 ratio, subject to a 1% net smelter royalty retained by the Optionor. The Duck Creek Property option transaction requires acceptance by the TSX Venture Exchange prior to closing. No finder's fees are being paid in connection with the Duck Creek Property transaction and the Shares to be issued pursuant to the Agreement will be subject to the statutory hold period of four months from the date of issuance in accordance with applicable Canadian securities laws. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. About Noble Plains Uranium Corp. Noble Plains Uranium (TSXV: NOBL) is focused on acquiring and advancing U.S.-based uranium projects amenable to In-Situ Recovery (ISR)-the most capital-efficient and environmentally responsible method of uranium extraction. The Company targets historically explored, geologically robust projects in uranium-friendly jurisdictions with the goal of rapidly delineating NI 43-101 resources and building out a pipeline of ISR-development opportunities. "Paul Cowley", CEO For further information, please contact Paul CowleyTelephone: (604) 340-7711 Website: Bradley Parkes, VP Exploration and Director of Noble Plains Uranium Corp., is the Qualified Person as defined in National Instrument 43-101, who has read and approved the technical content of this news release. Cautionary Statements Regarding Forward-Looking Information This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Noble Plains, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the acquisition of an 80% interest in the Duck Creek Property, the merits of the Project, including potential mineralization therein, completion of an NI 43-101 compliant technical report on the Property, and the planned 2025 exploration program to advance the Project towards an NI 43-101 compliant resource estimate. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Noble Plains, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain TSX Venture Exchange approval, the ability of the Company to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's filings on SEDAR+ at for a more complete discussion of such risk factors and their potential effects. Noble Plains does not assume any obligation to update forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. 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