Sign in

    Jacqueline Koletas • The Goldman Sachs Group, Inc.

    Jacqueline Koletas's questions to Targa Resources Corp (TRGP) leadership

    Jacqueline Koletas's questions to Targa Resources Corp (TRGP) leadership • Q4 2024

    Question

    Jacqueline Koletas questioned where Targa is seeing the commercial success that is driving capital spending higher, and asked about the expected cadence for new processing plants beyond 2026 and additional long-haul NGL infrastructure.

    Answer

    CEO Matt Meloy stated that commercial success has been strong in both the Midland and Delaware basins, driven by the fungibility and reliability of their systems for both sweet and sour gas. He confirmed a cadence of two plants in 2025 and four in 2026, with 2027 and 2028 needs currently under evaluation. President, Gathering and Processing, Pat McDonie added that a long list of new contracts provides strong visibility for growth.

    Ask Fintool Equity Research AI

    Jacqueline Koletas's questions to Hess Midstream LP (HESM) leadership

    Jacqueline Koletas's questions to Hess Midstream LP (HESM) leadership • Q4 2024

    Question

    Jacqueline Koletas asked how Hess Midstream thinks about the use of leverage going forward, particularly as the company expects to reach below a 2.5x leverage ratio in 2026. She also inquired about the Q1 2025 guidance, asking what it assumes for weather impacts beyond January and the expected recovery in the basin.

    Answer

    CFO Jonathan Stein clarified that the projected $1.25 billion in financial flexibility through 2027 is funded by both leverage capacity and excess free cash flow, with the priority remaining on shareholder returns over M&A. President and COO John Gatling stated the Q1 guidance is 'thoughtful and maybe a little bit conservative' to account for potential weather volatility in February and March, despite a strong recovery from January's events. Stein noted this implies an average 11% EBITDA increase from Q2 to Q4.

    Ask Fintool Equity Research AI

    Jacqueline Koletas's questions to Hess Midstream LP (HESM) leadership • Q3 2024

    Question

    Jacqueline Koletas asked for details on the impact of recent wildfires, questioning the split between cost and volume effects and which segments were most affected. She also requested a breakdown of the other factors influencing the updated 2024 guidance range.

    Answer

    President and COO John Gatling clarified that the wildfire impact was primarily on volumes across all systems (oil, gas, and water) due to power outages, with minimal cost implications. CFO Jonathan Stein added that despite this, Q4 EBITDA is still expected to grow 5% vs Q3. He noted the guidance range accounts for potential weather contingencies, the pace of an active maintenance program, and final G&A allocations.

    Ask Fintool Equity Research AI

    Jacqueline Koletas's questions to Kinetik Holdings Inc (KNTK) leadership

    Jacqueline Koletas's questions to Kinetik Holdings Inc (KNTK) leadership • Q3 2024

    Question

    Jacqueline Koletas questioned the expansion potential of the new Eddy-to-Culberson pipeline, its commercial impact, the commodity price outlook, and the timing for the return of curtailed Alpine High volumes.

    Answer

    President and CEO Jamie Welch and executive Kris Kendrick described the new pipeline as a 'massive game changer' that can be expanded from 150 MMcf/d to over 260 MMcf/d. It strategically frees up high-margin sour gas capacity in the north. Welch expects challenged but positive Waha pricing in December, sufficient to bring Alpine High volumes back online, and sees crude oil remaining range-bound.

    Ask Fintool Equity Research AI