Dafinchi AI

Unitil Corporation

UTL

Energy & Utilities

2w

Progress and Potential Settlement in Maine Natural Gas Acquisition Review

The regulatory review of Maine Natural Gas is on schedule with a decision deadline of November 5.
The Office of the Public Advocate did not object to the acquisition, which is a positive sign.
Technical conferences are planned for August and September, with a possibility of reaching a settlement that could lead to an earlier decision.

Unitil Corporation

UTL

Energy & Utilities

2w

Financial Performance Summary

Depreciation and amortization expenses rose by $7.4 million due to higher depreciation rates, increased utility plant, and amortization of storm and deferred costs.
Electric adjusted gross margin for the first half of 2025 was $53.3 million, up 2.5% or $1.3 million, driven by higher distribution rates and customer growth.
For the first six months of 2025, adjusted net income was $33.1 million or $2.03 per share, an increase of $1.6 million or $0.07 per share compared to the same period in 2024.
Gas adjusted gross margin increased 17.1% to $108.1 million for the first half of 2025, reflecting higher rates, customer growth including 8,800 customers from Bangor Natural Gas acquisition, and return to normal winter weather.
Income taxes increased slightly by $0.2 million reflecting higher pretax earnings.
Interest expense increased by $3.7 million due to higher long-term debt and regulatory liabilities, partially offset by lower short-term borrowing costs.
Operation and maintenance expenses increased by $7.1 million, including $1.7 million related to Bangor Natural Gas and $2.2 million in transaction costs (excluded from adjusted earnings).
Other expenses decreased by $1 million due to lower retirement benefit costs.
Unitil reported adjusted net income of $4.7 million and adjusted earnings of $0.29 per share for Q2 2025, up $0.4 million and $0.02 per share from Q2 2024.

Select Energy Services, Inc.

WTTR

Energy & Utilities

1w

Strategic Growth in Water Infrastructure with Long-term Contracts

Signed several new long-term agreements for large gathering, recycling, distribution, and disposal projects in the Northern Delaware Basin.
Added approximately 60,000 acres of leasehold dedication and 385,000 acres under right of first refusal agreements.
Contracts encompass full water cycle including gathering, recycling, disposal, and distribution.
Contracts support expansion of recycling facilities and pipeline infrastructure.
Expectation of 20% YoY growth in water infrastructure revenue in 2026, building on double-digit growth in 2025.

Riley Exploration Permian, Inc.

REPX

Energy & Utilities

1w

Impact of Infrastructure Challenges on Production and Mitigation Strategies

Natural gas processing issues in New Mexico caused well shut-ins and deferred oil production, but the impact on revenue was minimal as oil revenue is the primary driver.
Disruptions are timing issues rather than well performance problems, presenting opportunities for midstream and power projects aimed at improving flow assurance.
The company is advancing midstream and power generation projects, including compressor station expansions, to mitigate future infrastructure constraints and support stable production.

Northwest Natural Holding Company

NWN

Energy & Utilities

2w

Rapid Customer Growth in Texas Gas Utilities Driven by SiEnergy and Pines Acquisition

SiEnergy posted a customer backlog exceeding 217,000 future meters, including 12,000 meters from the Pines acquisition.
Combined SiEnergy and Pines served approximately 83,000 customers as of June 30, 2025.
The backlog growth and acquisition integration are progressing smoothly, with high growth potential making SiEnergy a significant future revenue contributor.

Gulfport Energy Corporation

GPOR

Energy & Utilities

1w

Strategic Acreage Acquisition and Inventory Expansion in Utica Shale

Gulfport announced plans to allocate up to $100 million for discretionary acreage acquisitions in the Utica Shale, marking the highest leasehold spend in over 6 years.
The company aims to secure 40 to 50 new wells in Belmont and Monroe counties, focusing on low breakeven, high-quality acreage.
These acquisitions are expected to add more than 2 years of core drilling inventory, reinforcing long-term growth prospects.
The targeted areas are adjacent to current operations, allowing for synergies and infrastructure advantages.
The company has already invested $7 million in Q2 2025 and plans to continue aggressive land acquisition efforts into early 2026.
This strategic focus on high-return wet and dry gas windows demonstrates a proactive approach to resource development.

Patterson-UTI Energy, Inc.

PTEN

Energy & Utilities

3w

Market Volatility and Macro Uncertainty Impacting Oil and Gas Activity

Oil prices fluctuated between mid-$50s and mid-$70s per barrel due to trade policy fears, OPEC+ production signals, and geopolitical risks, creating market volatility.
Customer drilling and completion activity remains cautious, with expectations of potential negative impacts on U.S. oil production and natural gas demand, especially as LNG facilities come online.
Management emphasizes the unsettled macro environment and its influence on customer behavior and industry activity levels.

SR

Energy & Utilities

2w

Strategic Acquisition of Piedmont Natural Gas Tennessee Business

Announced acquisition of Piedmont Natural Gas Tennessee from Duke Energy, adding $900 million to 5-year capital plan.
Transaction aims to increase scale, diversify portfolio, and expand into a high-growth, regulated jurisdiction.
Expected to close in Q1 2026, with regulatory approval sought within 45 days of announcement.
Funding strategy includes a bridge facility, potential sale of nonutility assets, and a balanced mix of debt, equity, and hybrid securities.
Integration expected to leverage existing shared services platform, with a focus on efficiency and long-term EPS growth of 5-7%.

OKE

Energy & Utilities

2w

Final Investment Decision on Permian Delaware Basin Natural Gas Processing Plant

Announced a $365 million FID for a new 300 MMCF/day plant in the Permian's Delaware Basin, supporting strategic growth in a key area.
Project supports increasing processing capacity to 1.1 BCF/day in the basin, with over 700 MMCF/day currently operational.
Expected completion in mid-2027, with additional low-cost expansions and new capacity driven by acreage dedication and producer activity.