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    Jeffrey Grampp • Alliance Global Partners

    Jeffrey Grampp's questions to Flotek Industries Inc (FTK) leadership

    Jeffrey Grampp's questions to Flotek Industries Inc (FTK) leadership • Q1 2025

    Question

    Jeffrey Grampp asked about the competitive landscape and total addressable market (TAM) for the PWRtek solution and questioned what Flotek's next strategic steps would be after integrating the new assets.

    Answer

    CEO Ryan Ezell positioned the PWRtek assets as a unique, turnkey solution with no direct competitors, differentiating them from simpler filtration units. He clarified that the 500-unit TAM mentioned was specific to domestic oil and gas power, with the broader market for data centers and grid support being much larger. As for next steps, Ezell identified upgrading real-time instrumentation for production chemistry as the next major phase, which he believes will significantly expand Flotek's addressable market and create a comprehensive chemical and data management company.

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    Jeffrey Grampp's questions to Flotek Industries Inc (FTK) leadership • Q4 2024

    Question

    Jeffrey Grampp of Alliance Global Partners inquired about the drivers behind the significant Q4 international revenue growth, its materiality, and its margin profile. He also asked about customer response to the ongoing uncertainty surrounding EPA regulations for flare monitoring.

    Answer

    CEO Ryan Ezell attributed the international growth to strategic expansion in the Middle East, particularly a newly approved slickwater fracturing system in Saudi Arabia and conventional work in the UAE and Oman. CFO J. Clement quantified the revenue, noting international chemistry was $4.5 million in Q4. Ezell explained that while specialty products carry high margins, friction reducers are more commoditized. Regarding the EPA, Ezell stated that despite regulatory delays, major operators are proceeding with flare monitoring adoption as part of their internal sustainability programs, driving continued growth for Flotek's VeraCaL units.

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    Jeffrey Grampp's questions to Flotek Industries Inc (FTK) leadership • Q3 2024

    Question

    Jeffrey Grampp of Alliance Global Partners inquired about Flotek's flare monitoring business, specifically the preferred sales model (lease vs. buy) and customer concentration. He also asked about the company's strategy for balancing SG&A cost controls with the need to reinvest in growth opportunities like the JP3 system.

    Answer

    CEO Ryan Ezell explained that the company's preferred commercial model for the flare market is a rental and service agreement, though some customers are considering capital purchases for long-term monitoring. He noted that while a few key customers were early adopters, the customer base is now rapidly diversifying. CFO Bond Clement added that while they are monitoring demand and may add headcount for JP3 field delivery, these costs would likely be in COGS, not SG&A, and they expect SG&A as a percentage of revenue to continue trending down.

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    Jeffrey Grampp's questions to Vitesse Energy Inc (VTS) leadership

    Jeffrey Grampp's questions to Vitesse Energy Inc (VTS) leadership • Q1 2025

    Question

    Jeffrey Grampp of Alliance Global Partners inquired about the primary factors that would drive results toward the high or low end of Vitesse's revised 2025 guidance. He also asked about the potential for share buybacks, given the stock's current valuation and high dividend yield, and any limitations from the credit facility.

    Answer

    President Brian Cree explained that the guidance range is influenced by the timing of completing drilled but uncompleted wells (DUCs), potential acquisition activity, and the development pace of third-party operators. Chairman and CEO Robert Gerrity added that service costs were already declining. Regarding capital allocation, CFO James Henderson stated that the primary focus is the fixed dividend, which limits excess cash for buybacks at current commodity prices, though it is constantly evaluated. Robert Gerrity affirmed that the company allocates capital to the highest-return opportunities, whether assets or stock repurchases.

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    Jeffrey Grampp's questions to Vitesse Energy Inc (VTS) leadership • Q4 2024

    Question

    Jeffrey Grampp of Alliance Global Partners inquired about Vitesse's acquisition strategy following the Lucero deal, asking if the stronger balance sheet and volatile oil markets would lead to a more aggressive M&A approach. He also asked about the company's dividend philosophy and its willingness to use the balance sheet to protect the dividend during market downturns.

    Answer

    Chairman and CEO Bob Gerrity responded, stating that oil prices in the $60s represent a 'sweet spot' for acquisitions and that the company is seeing significant deal flow. Regarding the dividend, Gerrity emphasized it is Vitesse's core 'product' and is protected by disciplined capital spending. He explained that lower oil prices lead to lower drilling and completion costs, which benefits their coverage ratio, making the dividend 'solid' in a $55 to $85 oil price environment.

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    Jeffrey Grampp's questions to Vitesse Energy Inc (VTS) leadership • Q3 2024

    Question

    Jeffrey Grampp of Piper Sandler Companies inquired about the reasons for Vitesse's low Q3 capital expenditures despite robust activity levels, the durability of organic CapEx growth into 2025, and the current acquisition environment for both near-term development and larger deals.

    Answer

    President Brian Cree explained that lower Q3 CapEx was a matter of timing, with well completions from earlier acquisitions shifting into Q4 2024 and Q1 2025. He also confirmed greater visibility into 2025 organic growth, noting that received AFEs have nearly doubled from 2023. Chairman and CEO Bob Gerrity added that while current oil prices make near-term acquisition opportunities more attractive, they must compete with high-return organic projects, and the company remains highly selective on larger deals.

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    Jeffrey Grampp's questions to Amprius Technologies Inc (AMPX) leadership

    Jeffrey Grampp's questions to Amprius Technologies Inc (AMPX) leadership • Q4 2024

    Question

    Jeffrey Grampp asked how recent large orders of $15-20 million compare to other opportunities in the pipeline and whether the manufacturing diversification strategy is driven solely by trade concerns or also by other factors like customer preference.

    Answer

    CEO Kang Sun stated that most customers in the pipeline have the potential for orders of a similar magnitude and that the sales team is focused on accelerating their qualification process. He confirmed that diversifying manufacturing is not just for geopolitical reasons but also to be closer to customer bases in regions like Europe, though Asia remains the primary manufacturing hub due to the supply chain.

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    Jeffrey Grampp's questions to Amprius Technologies Inc (AMPX) leadership • Q3 2024

    Question

    Jeffrey Grampp asked about the primary drivers for the record increase in new and total customer counts, questioning if the SiCore product and secured manufacturing capacity were the main catalysts. He also noted the seemingly rapid qualification period for the $20 million SiCore order and asked if this was typical.

    Answer

    CEO Kang Sun attributed the customer growth first to superior battery performance, with the new SiCore capacity removing previous constraints. He explained that the quick qualification for the $20 million order was possible because the specific application had a simpler certification process, and the customer could validate performance using Amprius's extensive existing data.

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    Jeffrey Grampp's questions to Evolution Petroleum Corp (EPM) leadership

    Jeffrey Grampp's questions to Evolution Petroleum Corp (EPM) leadership • Q2 2025

    Question

    Jeffrey Grampp of Alliance Global Partners asked for details on the SCOOP/STACK well performance relative to type curves, the expected production contribution from new Chaveroo wells in fiscal Q4, and the outlook for the full-year CapEx budget.

    Answer

    COO J. Bunch reported that SCOOP/STACK gas wells are performing approximately 10% above the company's type curve, while oil production is on target. He anticipates minimal production contribution from new Chaveroo wells in fiscal Q4. CFO Ryan Stash confirmed that CapEx spending will be weighted to the second half of the year and that the company remains comfortable with its initial full-year guidance.

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    Jeffrey Grampp's questions to Ocean Power Technologies Inc (OPTT) leadership

    Jeffrey Grampp's questions to Ocean Power Technologies Inc (OPTT) leadership • Q2 2025

    Question

    Jeffrey Grampp of Alliance Global Partners asked for an outlook on the Middle East market, specifically the timeline for converting partnerships into orders and revenue. He also questioned the primary risks to achieving the company's goal of profitability by the end of calendar 2025.

    Answer

    CEO Philipp Stratmann expressed confidence in securing more bookings and revenue from the Middle East during calendar 2025. He cited the company's hot-weatherized vehicles, new solar-powered solutions, and strong local partnerships as key drivers. Regarding profitability risks, Stratmann identified the main challenge as carefully managing the pace of scaling operations and headcount to meet growing demand without compromising the company's cost-effective structure.

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    Jeffrey Grampp's questions to Ocean Power Technologies Inc (OPTT) leadership • Q1 2025

    Question

    Jeffrey Grampp of Alliance Global Partners inquired about the primary drivers for the significant increase in the company's sales pipeline, the evolution of the sales team, the order volume for the quarter, and whether the current, lower operating expense level is sustainable.

    Answer

    CEO Philipp Stratmann attributed the pipeline growth to geopolitical demand for ocean security, increased U.S. government funding, and the commercial readiness of OPTT's systems. He noted the sales team has evolved to better serve government and marine tech sectors. Stratmann confirmed the company feels confident about its order guidance and stated that the major cost reductions in operating expenses are largely complete, establishing a new, sustainable baseline.

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    Jeffrey Grampp's questions to Ocean Power Technologies Inc (OPTT) leadership • Q4 2024

    Question

    Jeffrey Grampp of Alliance Global Partners inquired about obtaining a more current backlog figure, the primary risks to achieving the fiscal 2025 contracted order target, and the potential for further reductions in operating expenses.

    Answer

    CEO Dr. Philipp Stratmann confirmed that while a specific updated backlog number would be provided next quarter, the company is comfortable with its targets based on the $5 million starting backlog. He identified converting conversations to purchase orders and maintaining high product quality for repeat business as key internal focuses. Dr. Stratmann also affirmed that operating expenses are expected to decrease further, driven by headcount optimization and tighter controls on third-party spending.

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    Jeffrey Grampp's questions to Ring Energy Inc (REI) leadership

    Jeffrey Grampp's questions to Ring Energy Inc (REI) leadership • Q3 2024

    Question

    Jeffrey Grampp asked about the proportion of the capital budget allocated to exploratory or delineation wells in Q4 and whether successful tests would necessitate significant new infrastructure investments.

    Answer

    CEO Paul McKinney stated that while debt reduction remains the top priority, strong performance has allowed for four test wells in the quarter, representing a significant portion of Q4 capital. He indicated that as the balance sheet strengthens (leverage below 1.0x), more capital will be allocated to inventory growth. VP of Operations Shawn Young clarified that while most production facilities are proximal, successful new development would require some incremental investment in water supply and disposal infrastructure.

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    Jeffrey Grampp's questions to Ring Energy Inc (REI) leadership • Q2 2024

    Question

    Jeffrey Grampp of Alliance Global Partners asked about the capital expenditure outlook, noting that implied spending per quarter in the second half of the year seems higher than the first half despite similar activity levels. He also inquired whether recent well cost reductions are temporary market effects or permanent internal efficiencies.

    Answer

    Paul McKinney, Chairman and CEO, explained that the second-half CapEx guidance includes some conservatism and allocates capital toward higher-risk organic growth projects and facility upgrades. Shawn Young, VP of Operations, added that a slight increase in planned wells for the fourth quarter also contributes to the higher figure. Regarding cost savings, both executives confirmed it is a mix of temporary market softness and sustainable internal efficiencies from faster and more effective drilling and completion performance.

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