Sign in

    Chris Baker • Evercore ISI

    Chris Baker's questions to BKV Corp (BKV) leadership

    Chris Baker's questions to BKV Corp (BKV) leadership • Q2 2025

    Question

    Chris Baker from Evercore ISI asked about the impact of the Bedrock acquisition on the company's maintenance capital expenditures and requested more details on the recently reserved manufacturing slots for power turbines, such as delivery windows and scale.

    Answer

    Eric Jacobsen, President of Upstream, stated that Bedrock's low-decline assets would add approximately $20-25 million to the current maintenance CapEx of $170-180 million. CEO Chris Kalnin added that the turbine slots provide crucial optionality in discussions with hyperscalers, enabling BKV to link new power generation capacity directly to long-term Power Purchase Agreements (PPAs) to de-risk the investment.

    Ask Fintool Equity Research AI

    Chris Baker's questions to Viper Energy Inc (VNOM) leadership

    Chris Baker's questions to Viper Energy Inc (VNOM) leadership • Q2 2025

    Question

    Chris Baker asked about the strategy for reaching the $1.5 billion net debt target, questioning the mix between organic cash flow and non-core asset sales, and inquired about the future allocation between share buybacks and variable dividends.

    Answer

    CEO Kaes Van’t Hof explained that the debt target will be reached through a combination of free cash flow generation, potential sales of non-Permian assets, and a significant focus on share buybacks, especially given the current stock valuation. He emphasized that while Viper is primarily a distribution vehicle, the company will opportunistically use buybacks during periods of stock price dislocation.

    Ask Fintool Equity Research AI

    Chris Baker's questions to Murphy Oil Corp (MUR) leadership

    Chris Baker's questions to Murphy Oil Corp (MUR) leadership • Q4 2024

    Question

    Chris Baker from Evercore ISI asked if there is any additional conservatism baked into the 2025 guidance beyond typical Gulf of Mexico weather assumptions, given the unexpected issues in 2024. He also inquired about the potential to exceed the minimum 50% cash return to shareholders again in 2025, following the nearly 80% return in 2024.

    Answer

    President and CEO Eric Hambly stated their storm guidance methodology aims for a mean expectation and that the recent high level of mechanical workovers is not common and thus not forecasted to be an ongoing issue. CFO Tom Mireles addressed cash returns, explaining that they leaned heavily into buybacks in 2024 due to the share price. He confirmed they will maintain flexibility to exceed the 50% minimum again in 2025 if they see a dislocation in share price, noting that such actions would likely occur in the second half of the year due to front-loaded CapEx.

    Ask Fintool Equity Research AI