Sign in

    Jacob Roberts • TPH&Co. (Perella Weinberg Partners)

    Jacob Roberts's questions to BKV Corp (BKV) leadership

    Jacob Roberts's questions to BKV Corp (BKV) leadership • Q2 2025

    Question

    Jacob Roberts of TPH & Co. asked about the competitiveness of the Bedrock acquisition process and which factors are most important for future M&A. He also inquired if the liquids composition of the Bedrock assets is similar to BKV's legacy portfolio.

    Answer

    CEO Chris Kalnin revealed the Bedrock deal was a bilateral discussion, aided by Bedrock's interest in becoming a BKV shareholder. President of Upstream Eric Jacobsen added that for future deals, achieving accretive economics via BKV's playbook is the most critical factor. He also confirmed the Bedrock assets have a slightly higher and richer liquids content compared to BKV's existing assets.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to BKV Corp (BKV) leadership • Q1 2025

    Question

    Jacob Roberts asked for details on the Comstock CCUS partnership, specifically the differences in developing a project at an operational plant versus one under construction. He also requested commentary on the macroeconomic conditions mentioned in the prepared remarks and their specific impact on the power business.

    Answer

    President of Upstream Eric Jacobsen clarified that the Comstock projects will be developed in a phased approach, with BKV handling CO2 capture, compression, and sequestration for a fee as Comstock grows its production. CEO Christopher Kalnin addressed the macro question, explaining that inflation increases the cost of new power generation, which supports higher power prices, while the trend of onshoring data centers and industrial capacity is bullish for power demand in Texas.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to BKV Corp (BKV) leadership • Q4 2024

    Question

    Jacob Roberts asked about BKV's CCUS expansion strategy, inquiring about regulatory and geologic factors in target areas and whether a potential JV would be a blanket or project-by-project deal. He also asked if the company would consider power M&A outside of ERCOT and if such investments would require a carbon offset component.

    Answer

    President of Upstream Eric Jacobsen noted that key states for CCUS expansion have favorable geology and regulatory frameworks. CEO Christopher Kalnin clarified that a potential JV would be a platform-level deal, not project-specific. Kalnin also confirmed BKV is actively looking at power assets outside of ERCOT and can cater to customers who require decarbonized power as well as those who prioritize speed to market, pricing each offering accordingly.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to BKV Corp (BKV) leadership • Q3 2024

    Question

    Jacob Roberts inquired about the planned capital allocation between restimulations (refracs) and new horizontal wells for 2025, and asked if a higher mix of refracs would meaningfully shift production decline rates or lease operating expenses (LOE).

    Answer

    COO Eric Jacobsen explained that refracs are a pivotal part of their program and typically constitute 20-25% of development capital spending. He noted that refracs have a slightly higher first-year decline rate (mid-50% range) than new wells (45%) but still contribute to the company's overall low-decline asset base. He also stated that refracs help lower LOE on a per-unit basis by increasing overall production volumes.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to Gulfport Energy Corp (GPOR) leadership

    Jacob Roberts's questions to Gulfport Energy Corp (GPOR) leadership • Q1 2025

    Question

    Jacob Roberts circled back to the Kage pad, asking about potential future well design changes in the area and whether the company had anticipated such strong results. He followed up by asking if more activity would have been directed there if the results were foreseen, or if that would require a better oil price environment.

    Answer

    EVP and COO Matthew Rucker stated that they continuously refine well designs and will apply learnings from the Kage pad's long-term performance to future wells. President and CEO John Reinhart added that while the condensate wells are economically attractive, the company's focus for 2026 is leaning more toward dry and wet gas development given the favorable macro environment for gas, rather than prioritizing liquids-focused drilling.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to Gulfport Energy Corp (GPOR) leadership • Q3 2024

    Question

    Jacob Roberts asked about the company's flexibility to shift its production mix between liquids and gas based on forward curves and whether operational efficiencies would continue with the move into new areas like the Marcellus.

    Answer

    EVP and CFO Michael Hodges affirmed the company's flexibility to pivot its capital allocation within a 12-18 month timeframe if a 'sticky change' in commodity prices occurred. President and CEO John Reinhart expressed confidence that operational efficiencies will continue, driven by constant team improvements, and noted that the company continues to break operational records.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to Comstock Resources Inc (CRK) leadership

    Jacob Roberts's questions to Comstock Resources Inc (CRK) leadership • Q1 2025

    Question

    Jacob Roberts asked about the long-term rig count the Western Haynesville could support if gas prices cooperate and whether the company has a specific growth target. He also asked about the Olajuwon well's expected flow rate versus its initial production (IP) rate.

    Answer

    CEO Miles Allison responded that the company will prudently develop the asset and will not oversupply the market, aiming to meet new demand from data centers and LNG. He highlighted the potential for 12 Bcf of new gas demand and positioned the Western Haynesville as a key source. COO Daniel Harrison stated the Olajuwon well will be flowed on a similar type curve to other core wells, with no midstream constraints affecting its flow rate.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to Comstock Resources Inc (CRK) leadership • Q4 2024

    Question

    Jacob Roberts of TPH & Co. inquired if the planned 4-rig program in the Western Haynesville is sufficient to meet all HBP and MVC needs with their midstream partner, or if a ramp-up would be needed. He also asked about the extent of seismic and historical data used to understand the play.

    Answer

    President & CFO Roland Burns stated that the current activity level is very comfortable and sufficient to meet all commitments without getting overextended. COO Daniel Harrison explained that extensive 3D seismic data has been crucial for planning and that the company plans to drill future pilot holes and conduct coring to gather more rock property data.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to Comstock Resources Inc (CRK) leadership • Q3 2024

    Question

    Jacob Roberts of TPH & Co. inquired about the potential timing of rig additions in 2025 given the current commodity price environment and what constitutes a 'balanced program'. He also asked for an update on the midstream capacity runway in the Western Haynesville.

    Answer

    President and CFO Roland Burns responded that 2025 rig additions are under evaluation and contingent on winter gas market conditions, with a target of hedging 50% of production to de-risk the program. VP of Finance and IR Ronald Mills added that while current wells will near existing treating capacity, the new Marquee plant coming online will add 400 million cubic feet per day of capacity, providing significant runway for growth.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to CNX Resources Corp (CNX) leadership

    Jacob Roberts's questions to CNX Resources Corp (CNX) leadership • Q1 2025

    Question

    Jacob Roberts asked for an update on the performance of the Apex wells that were turned-in-line during the quarter relative to the base business. He also sought clarification on whether the deactivation of the Buchanan power facility on the PJM list would impact CNX's environmental attribute sales segment.

    Answer

    Chief Operating Officer Navneet Behl stated that the eight wells brought online from the Apex acquisition are producing better than expected. Chief Financial Officer Alan Shepard added that the Buchanan facility's deactivation will have no impact on the company's environmental attribute sales, as CNX utilizes multiple facilities across the PJM Interconnection to create those credits.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to CNX Resources Corp (CNX) leadership • Q4 2024

    Question

    Jacob Roberts inquired about the visibility CNX has into the mining plans that determine coal mine methane volumes and whether opportunities exist beyond the Buchanan complex. He also asked about the drivers behind year-over-year changes in gas marketing sales points.

    Answer

    Ravi Srivastava, President of New Technologies, explained that CNX works closely with mine operators to understand their plans, with volumes primarily coming from the Buchanan mine. CFO Alan Shepard attributed shifts in marketing sales points to routine, daily optimization of the company's firm transportation portfolio, not fundamental changes to contracts.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to CNX Resources Corp (CNX) leadership • Q3 2024

    Question

    Jacob Roberts asked if the potential benefits from 45Q and 45V tax credits on CMM volumes are mutually exclusive. He also inquired if the recent stock appreciation has impacted M&A discussions, particularly for opportunities in the New Technology segment.

    Answer

    Ravi Srivastava, President of New Technologies Group, responded that it is unknown if the 45Q and 45V benefits would be mutually exclusive until final guidance is released. CFO Alan Shepard reiterated that M&A is considered within their standard capital allocation process and declined to comment on specific conversations.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to EQT Corp (EQT) leadership

    Jacob Roberts's questions to EQT Corp (EQT) leadership • Q1 2025

    Question

    Jacob Roberts asked for the drivers behind the increased third-party revenue guidance and whether this new forecast represents an upper limit. As a follow-up on M&A, he questioned if the limited opportunity set for deals applies only to integrated assets or if EQT would consider acquiring pure-play midstream businesses.

    Answer

    CFO Jeremy Knop explained the change in third-party revenue guidance was primarily an accounting reallocation to align with Equitrans's historical reporting, not a fundamental business change. On M&A, Knop reiterated that EQT's edge lies in integrating upstream and midstream assets, as seen with Equitrans. While open-minded, he expressed skepticism about achieving similar synergies with pure-play midstream assets, stating it's hard to envision such an opportunity at this time.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to EQT Corp (EQT) leadership • Q4 2024

    Question

    Jacob Roberts from TPH & Co. requested a risk assessment of the 2025 maintenance capital budget, specifically concerning its relationship with new compression projects. He also asked if lower Q4 midstream spending was deferred or eliminated.

    Answer

    President and CEO Toby Rice explained that the compression plans are based on normal project management scheduling and risk assessment, with a good level of comfort based on pilot projects, and he does not anticipate significant flex. CFO Jeremy Knop stated the Q4 midstream underspend was 'a little bit of both' deferred and permanently eliminated.

    Ask Fintool Equity Research AI

    Jacob Roberts's questions to EQT Corp (EQT) leadership • Q3 2024

    Question

    Jacob Roberts sought clarity on the 2025 production outlook, asking if the guided 2,100 Bcfe level (net of sales) implies a decline from the current run rate of approximately 2,400 Bcfe (excluding shut-ins). He also asked if the non-operated asset sale would impact operating expense guidance.

    Answer

    CFO Jeremy Knop clarified that year-over-year production on the remaining asset base is expected to be 'relatively flat' in 2025. He also confirmed that the non-operated asset divestiture is not expected to cause any material changes to the company's operating expense profile.

    Ask Fintool Equity Research AI