Insights

Ardabelle Capital Announces Strategic Partnership with TPG NEXT

DETAILS

- Ardabelle Capital announced a strategic partnership with TPG NEXT, focused on sustainable investment. - Ardabelle was founded in 2024 by Virginie Morgon, targeting mid-market businesses in industrial, services, and technology sectors. - The firm aims to help corporations create resilient supply chains amidst resource scarcity and regulatory changes. - Virginie Morgon emphasized investing in regional champions and leveraging partnerships to foster future leaders. - Ardabelle will focus on businesses providing sustainable solutions like resource preservation and sustainable logistics. - TPG NEXT’s Managing Partner praised Ardabelle’s strategy for capitalizing on the demand for sustainable value chains. - Ardabelle's founding team consists of seven partners with extensive backgrounds in investment management and sustainability. - The partnership with TPG NEXT will provide Ardabelle with access to a global ecosystem and expertise in climate and impact investing. - TPG is a prominent asset management firm with a diversified investment strategy and assets under management totaling $246 billion. - The collaboration aims to support Ardabelle’s business building and expansion efforts through strategic capital and operational support.

COMPANIES

Ardabelle Capital, TPG NEXT, Eurazeo, McKinsey & Company, SUEZ, The Carlyle Group, Danone, World Economic Forum, CalPERS, TPG

TAGS

fundraising

Matador Resources Company Reports First Quarter 2025 Results and Announces $400 Million Share Repurchase Program and Adjustment in Drilling Activity

DETAILS

- Matador Resources Company reported its financial and operating results for the first quarter of 2025. - The company announced a $400 million share repurchase program and adjustments to its drilling activity for 2025. - Joseph Wm. Foran, the company's CEO, expressed satisfaction with the profitable quarter, emphasizing long-term growth and operational expertise amid market volatility. - Matador's robust balance sheet and high production levels were cited as key strengths. - The board authorized the repurchase of up to $400 million of Matador's common stock. - The share repurchase aims to return value to shareholders and is separate from the quarterly dividend of $0.3125 per share. - Matador's directors and executives purchased 31,100 shares for $1.6 million in Q1 2025, highlighting confidence in the company. - The company expects to reduce its drilling rigs from nine to eight by mid-2025 to enhance flexibility in response to market conditions. - As a result of its adjusted drilling activity, Matador expects a reduction in capital expenditures for the year by $100 million. - Total oil and natural gas production rose 33% year over year to an average of 198,631 BOE per day. - Average oil production increased 36%, and average natural gas production grew 29% compared to the previous year. - Matador turned to sales 40 gross operated wells in the first quarter, exceeding previous performance. - The company started sales on its first three-mile lateral wells, showing promising early results. - Matador expects record production results in the second quarter of 2025, projecting 207,000 BOE per day. - The company's operational efficiencies allowed for a 3% decrease in drilling and completion costs per foot. - Matador continues to enhance its midstream operations through its joint venture, San Mateo. - The Marlan processing plant expansion is on track to increase processing capacity by 200 million cubic feet per day. - Matador is hosting a "Town Hall" Conference Call on April 28, 2025, to discuss results and market volatility. - The company has updated its full-year 2025 guidance for production and capital expenditures due to changing market conditions. - Despite reductions, Matador expects a 17% increase in production compared to 2024 levels. - The company remains committed to monitoring market conditions and adjusting operations accordingly. - Matador emphasizes the importance of preparedness and flexibility in navigating challenges in the oil and gas sector. - The company aims to continue increasing asset value and shareholder returns through strategic actions and operational efficiency.

COMPANIES

Matador Resources Company, Piñon Midstream, LLC, San Mateo Midstream, LLC, Ameredev

TAGS

oil and gas

Frontier and Hafslund Celsio pave the way for first waste-to-energy carbon removal retrofit

DETAILS

- Hafslund Celsio is building the first retrofit of a waste-to-energy facility aimed at carbon removal, which could serve as a model for around 500 similar facilities across Europe. - This approach has the potential to remove 400 million tons of CO₂ annually by 2050. - Retrofitting existing infrastructure allows for affordable carbon removal at scale. - Frontier facilitated offtake agreements with Hafslund Celsio, Norway’s largest supplier of district heating, enabling the retrofit project. - Frontier buyers will invest $31.6 million to remove 100,000 tons of CO₂ between 2029 and 2030. - Hafslund Celsio’s Oslo facility processes about 350,000 metric tons of waste each year, generating electricity and heat from incineration. - The incineration process generates biogenic CO₂ emissions from organic materials and fossil CO₂ emissions from inorganic materials. - The retrofit will include a unit that captures both biogenic and fossil CO₂ emissions, with plans to transport captured CO₂ to the Northern Lights facility for permanent storage. - Hafslund Celsio anticipates capturing up to 175,000 tons of each type of CO₂ emissions per year from this facility. - Waste-to-energy facilities can effectively manage pre-sorted waste and reduce methane emissions by converting waste into a low-carbon energy source. - The retrofitting of these facilities could allow for significant carbon removal and additional decarbonization benefits. - Existing infrastructure means retrofits can deliver affordable carbon removal at scale, particularly as European policies shift towards waste-to-energy over landfills. - The CO₂ capture project is supported by both public and private contributions, including funding from the Norwegian government and the City of Oslo. - Frontier's founders and various companies are participating in the offtake agreements, ensuring revenue stability for the project. - Hafslund Celsio’s initiative is seen as a path for other facilities across Europe to remove significant amounts of CO₂ from the atmosphere. - The Norwegian Minister of Energy praised the project for promoting carbon removals in challenging sectors like waste incineration.

COMPANIES

Hafslund Celsio, Frontier, Northern Lights, Stripe, Google, Shopify, McKinsey Sustainability, Autodesk, H&M Group, JPMorgan Chase, Workday, Salesforce, Aledade, Match Group, Samsara, SKIMS, Skyscanner, Wise, Zendesk

TAGS

Carbon Capture Utilization and Storage

WhiteHawk Energy Acquires Natural Gas Mineral and Royalty Interests Across 475,000 Gross Unit Acres in Core of Marcellus Shale

DETAILS

- WhiteHawk closes $118 million acquisition of additional Marcellus Shale natural gas mineral and royalty assets by doubling its ownership interests in its existing 475,000 gross unit acres position. - Acquisition generates cash flow from over 1,400 wells, anchored by top-tier operators EQT, Range Resources, and CNX Resources. - This transaction increases WhiteHawk’s natural gas mineral and royalty interests in its approximately 1,050,000 gross unit acres in the core of the Marcellus and Haynesville Shales with interests in over 3,400 producing wells. - The $118 million transaction doubles the Company’s present ownership interest in a portion of its Marcellus Shale royalties position, primarily focused in Washington and Greene counties, Pennsylvania. - The 2025 Marcellus Acquisition provides additional production, line-of-site development, undeveloped inventory, and cash flow from WhiteHawk’s core Appalachia position. - This marks WhiteHawk's sixth acquisition over the last three years and the third acquisition of royalty interests on these assets. - WhiteHawk’s consolidated Marcellus Shale assets cover approximately 675,000 gross unit acres with production from around 2,068 horizontal shale wells. - The Company owns mineral and royalty interests in 141 wells-in-progress, 66 permitted wells, and 1,713 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale. - Approximately 95% of production, cash flow, and present value associated with the Marcellus assets are operated by EQT, Range Resources, CNX Resources, and Antero Resources. - WhiteHawk also owns natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres and about 1,371 producing horizontal shale wells. - The Haynesville Shale assets are actively being developed by Expand Energy, Aethon Energy Management, and Comstock Resources. - WhiteHawk Energy focuses on acquiring mineral and royalty interests in top tier natural gas resource plays, including the Haynesville and Marcellus Shales. - The management team at WhiteHawk has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years.

COMPANIES

WhiteHawk Energy, EQT, Range Resources, CNX Resources, Antero Resources, Expand Energy, Aethon Energy Management, Comstock Resources

TAGS

oil and gas

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