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    Josh Jane

    Managing Director at Daniel Energy Partners

    Josh Jayne is a Managing Director at Daniel Energy Partners, specializing in research and analysis within the oil services and capital equipment sectors. He delivers field-driven insights focused on individual companies through in-basin field trips and direct engagement with public and private executives, contributing to market intelligence highly valued by institutional investors. Jayne began his career at Simmons & Company, progressing through senior analyst and leadership roles before joining Daniel Energy Partners, where he has become known for high-impact research and advisory work. He holds advanced credentials relevant to the energy finance sector and has earned professional recognition for his analytical performance and client engagement.

    Josh Jane's questions to MRC GLOBAL (MRC) leadership

    Josh Jane's questions to MRC GLOBAL (MRC) leadership • Q4 2024

    Question

    Josh Jane of Daniel Energy Partners questioned the outlook for international markets in 2025, asking about bright spots and how the current backlog compares historically. He also inquired about capital allocation priorities, specifically the attractiveness of M&A versus the share repurchase program.

    Answer

    CEO Rob Saltiel stated that the international backlog is at its highest level in years and the business continues to be strong, driven by margin-accretive valve sales for projects in Europe and Asia Pacific. He highlighted strength in Norway, the U.K., and Central Europe, as well as more activity in energy transition projects abroad. On capital allocation, Saltiel emphasized the priority of achieving a 1.5x net debt leverage ratio in 2025 while also executing on the new share buyback program starting in Q2. He noted that with the balance sheet now strengthened, M&A will be considered again after a decade-long hiatus.

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    Josh Jane's questions to Civeo (CVEO) leadership

    Josh Jane's questions to Civeo (CVEO) leadership • Q4 2024

    Question

    Josh Jane of Daniel Energy Partners inquired about Civeo's capital return framework going forward, particularly as a percentage of free cash flow, and asked how the company is balancing the current rightsizing of its Canadian business with its long-term optimism for the region.

    Answer

    President and CEO Bradley Dodson reiterated that Civeo's capital allocation framework remains unchanged: a fundamental dividend supplemented by opportunistic buybacks, while targeting a leverage ratio of around 1x. He stated that post-acquisition, leverage will be approximately 1x, allowing the framework to continue. Regarding Canada, Dodson explained that the business has been rightsized for the current market reality, and the company will consistently evaluate its cost structure against its evolving outlook.

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    Josh Jane's questions to Noble Corp (NE) leadership

    Josh Jane's questions to Noble Corp (NE) leadership • Q4 2024

    Question

    Josh Jane inquired if modifications are needed for the Globetrotter rigs to compete in the intervention market and asked for more detail on potential tariff impacts.

    Answer

    President and CEO Robert Eifler stated that no significant modifications are needed for the Globetrotters, as most intervention equipment is transferable and provided by service companies. CFO Richard Barker addressed tariffs, calling the situation fluid but noting that the 2025 guidance already includes a 3-4% general cost inflation assumption to account for such risks.

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    Josh Jane's questions to Weatherford International (WFRD) leadership

    Josh Jane's questions to Weatherford International (WFRD) leadership • Q4 2024

    Question

    Josh Jane from Daniel Energy Partners asked about the success of Weatherford's Managed Pressure Drilling (MPD) offerings and the outlook for that technology. He also inquired about the sense of urgency in the offshore market and which regions might see a pickup in activity in the second half of the year.

    Answer

    CEO Girish Saligram expressed continued excitement for the MPD product line, noting that its new Motus system will see a significant contribution in the coming year. On the offshore market, Saligram stated that while the cycle has long-term strength, there is some near-term choppiness. He identified Brazil, the Caspian region, and the Norwegian North Sea as positive areas, while noting challenges in the U.K. He confirmed the company has good line of sight to a pickup in activity based on firm rig schedules and contracts.

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