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    Derek Whitfield • Texas Capital

    Derek Whitfield's questions to EOG Resources Inc (EOG) leadership

    Derek Whitfield's questions to EOG Resources Inc (EOG) leadership • Q1 2025

    Question

    Derek Whitfield asked about the potential for service price reductions in a protracted low oil price environment and the flexibility of EOG's current service contracts. He also inquired about the company's long-term strategy for exposure to LNG markets versus domestic gas markets.

    Answer

    COO Jeff Leitzel stated it's hard to predict when high-spec service costs might decline but affirmed that EOG's contracts have built-in flexibility to adjust activity levels. CEO Ezra Yacob explained the gas marketing strategy focuses on securing access to global markets with a diverse portfolio of pricing mechanisms (Brent, JKM, Henry Hub) to capitalize on arbitrage opportunities, while selling FOB to avoid on-water risk.

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    Derek Whitfield's questions to Granite Ridge Resources Inc (GRNT) leadership

    Derek Whitfield's questions to Granite Ridge Resources Inc (GRNT) leadership • Q4 2024

    Question

    Derek Whitfield of Texas Capital asked about Granite Ridge's strategy for natural gas opportunities in the current environment and sought insights into the company's deal sourcing funnel, including key success factors beyond price.

    Answer

    Executive Luke Brandenberg explained that while they have no pure-play gas partners in their operated partnership program, they benefit from gassy Delaware production. He highlighted compelling traditional non-op inventory in the Haynesville and dry gas Eagle Ford, expressing optimism for accelerated development if prices hold. Regarding deal sourcing, Brandenberg noted they lost gas deals in 2024 by not paying for high price assumptions but have found success in the Permian and the Utica condensate window. He emphasized a diversified deal flow strategy to identify market themes quickly.

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    Derek Whitfield's questions to Kodiak Gas Services Inc (KGS) leadership

    Derek Whitfield's questions to Kodiak Gas Services Inc (KGS) leadership • Q4 2024

    Question

    Derek Whitfield asked how macro volatility from tariffs and OPEC announcements is affecting customer rent-versus-buy decisions and if the shifting natural gas demand outlook has altered Kodiak's targeted producing regions.

    Answer

    CEO Mickey McKee suggested that while tariffs may cause minor cost inflation, lower commodity prices could actually encourage customers to outsource compression, benefiting Kodiak. CFO John Griggs reiterated the stability of their production-focused, fixed-revenue business model. McKee affirmed their strategy remains centered on basins with both oil and gas exposure, like the Permian and Eagle Ford, which are ideally positioned to serve future LNG demand.

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    Derek Whitfield's questions to Diamondback Energy Inc (FANG) leadership

    Derek Whitfield's questions to Diamondback Energy Inc (FANG) leadership • Q4 2024

    Question

    Derek Whitfield inquired about the capital and production impact from the agreement to accelerate development in Double Eagle's noncore Southern Midland Basin assets and asked where the greatest remaining opportunities for unmodeled synergies lie after the recent integrations.

    Answer

    President Kaes Van't Hof clarified the development acceleration has zero capital impact for Diamondback as it's a carry arrangement, and it's expected to generate about $100 million of consolidated free cash flow in 2026, with half benefiting Viper. Chairman and CEO Travis Stice added that while capital synergies have been a focus, longer-dated synergies will come from integrating field operations and production teams to improve LOE and OpEx.

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