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    Josh Jayne

    Managing Director at Daniel Energy Partners

    Josh Jayne is a Managing Director at Daniel Energy Partners, specializing in energy sector research with a focus on oil service and capital equipment companies. He provides in-depth market intelligence, covering leading public and private firms operating within these sectors, and is noted for leveraging direct field research and executive engagement to inform investment decisions. Jayne began his career at Simmons & Company and has since built a reputation for industry expertise and insightful analytical performance over multiple years at Daniel Energy Partners. He holds senior leadership credentials within the firm, though specific securities licenses or FINRA registrations are not publicly listed.

    Josh Jayne's questions to Atlas Energy Solutions (AESI) leadership

    Josh Jayne's questions to Atlas Energy Solutions (AESI) leadership • Q2 2025

    Question

    Josh Jayne of Daniel Energy Partners asked for the strategic rationale behind the PropFlo acquisition, the company's view on the wet versus dry sand market, and an assessment of the current operator mindset in the Permian.

    Answer

    EVP & President of Sand and Logistics Chris Scholla explained that the PropFlo acquisition completes their wellsite value chain, offering customers a system that enables continuous 24/7 pumping. He noted the wet vs. dry sand decision is driven by total delivered cost and doesn't foresee new capital for market expansions. Regarding customer mindset, he senses more stability but noted many operators are still finalizing Q4 and 2026 plans.

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    Josh Jayne's questions to Archrock (AROC) leadership

    Josh Jayne's questions to Archrock (AROC) leadership • Q2 2025

    Question

    Josh Jayne from Daniel Energy Partners asked management to expand on the perceived 'dislocation' between Archrock's share price and its future expectations, and whether this would lead to more aggressive buybacks. He also asked about the future trend for equipment time on location.

    Answer

    President & CEO D. Bradley Childers reiterated strong confidence in the business's stable, long-term growth, which he believes is undervalued by the market, making buybacks an attractive tool. SVP & CFO Doug Aron added that the company's industry-low leverage provides the flexibility to be opportunistic. Childers also projected that the average time equipment stays on location, currently over six years, will likely continue to extend as more large, long-life horsepower is added to the fleet.

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    Josh Jayne's questions to Archrock (AROC) leadership • Q2 2025

    Question

    Josh Jayne asked management to elaborate on the perceived 'dislocation' between Archrock's share price and its future expectations, and whether this has made them more aggressive with capital returns. He also inquired about the future trend for how long equipment stays on location.

    Answer

    President & CEO D. Bradley Childers affirmed their confidence in the business's future, stating the market is undervaluing their shares, which makes them look to use both dividends and price-sensitive buybacks. CFO Doug Aron added that their industry-low leverage provides the flexibility to be opportunistic. Mr. Childers also expects the average time equipment stays on location, currently over six years, to extend further as the fleet mix shifts toward more large horsepower, long-term infrastructure assets.

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    Josh Jayne's questions to Archrock (AROC) leadership • Q2 2025

    Question

    Josh Jayne of Daniel Energy Partners asked management to expand on their view of a 'dislocation' between Archrock's share price and its future expectations, and whether this might lead to more aggressive buybacks. He also inquired about the future evolution of the trend for equipment staying on location longer.

    Answer

    President & CEO D. Bradley Childers reiterated strong confidence in the business's stable, long-term growth, which he believes the market is undervaluing, making buybacks an attractive tool. SVP & CFO Doug Aron added that the company's industry-low leverage provides the flexibility to be opportunistic. Regarding equipment tenure, Childers stated he expects the average time on location, currently over six years, to continue extending as the fleet mix shifts further toward large, long-term infrastructure horsepower.

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    Josh Jayne's questions to TIDEWATER (TDW) leadership

    Josh Jayne's questions to TIDEWATER (TDW) leadership • Q2 2025

    Question

    Josh Jayne from Daniel Energy Partners asked for Tidewater's multi-year outlook for West Africa in light of driller optimism for 2026-2027. He also inquired about the rationale behind the specific $500 million size of the new share repurchase program.

    Answer

    EVP & COO Piers Middleton conveyed a very positive long-term outlook for Africa, anticipating a significant ramp-up in 2026 as projects enter the vessel-intensive development phase, despite a potential near-term pause. President & CEO Quintin Kneen explained the $500 million buyback figure was based on the company's ability to execute it over approximately a year, considering current cash, excess liquidity from the new revolver, and strong quarterly free cash flow generation.

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    Josh Jayne's questions to TIDEWATER (TDW) leadership • Q4 2024

    Question

    Josh Jayne of Daniel Energy Partners asked about the state of the debt markets for the OSV sector and its implications for newbuild financing. He also inquired about the company's long-term capital return philosophy.

    Answer

    Executive West Gotcher described the corporate debt markets as constructive for Tidewater but noted that financing for newbuilds remains limited for the broader industry due to past losses. President & CEO Quintin Kneen stated that while there's no set target for capital returns, the aggressive 2024 share repurchases indicate their approach, with a priority on first establishing an optimal long-term capital structure.

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    Josh Jayne's questions to Valaris (VAL) leadership

    Josh Jayne's questions to Valaris (VAL) leadership • Q2 2025

    Question

    Josh Jayne inquired about customer sentiment amid oil price volatility, the rig count outlook in Saudi Arabia, and the company's forward-looking strategy for its share buyback program given its strong liquidity.

    Answer

    President & CEO Anton Dibowitz confirmed customers remain confident, as most offshore projects are economic below $50/barrel, and stated the Saudi rig count is stable. On capital returns, both Dibowitz and SVP & CFO Chris Weber reiterated their commitment, stating that while returns may not be linear, strong performance and proceeds from a planned rig sale will increase flexibility for buybacks.

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    Josh Jayne's questions to Valaris (VAL) leadership • Q2 2025

    Question

    Josh Jayne asked about the current customer mindset amid recent oil price volatility, the rig count outlook in Saudi Arabia, and the company's strategy for share buybacks given its strong liquidity and cash flow.

    Answer

    CEO Anton Dibowitz stated that customers remain confident, citing the strong economics of offshore projects (many with breakevens below $50/barrel) and are proceeding with plans. He noted the Saudi rig count is stable and Valaris's position is secure with long-term contracts. CFO Chris Weber and CEO Anton Dibowitz reiterated a commitment to capital returns, noting it may not be linear but that strong performance and the upcoming rig sale provide increased flexibility.

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    Josh Jayne's questions to EXPRO GROUP HOLDINGS (XPRO) leadership

    Josh Jayne's questions to EXPRO GROUP HOLDINGS (XPRO) leadership • Q2 2025

    Question

    Josh Jayne from Daniel Energy Partners asked for an assessment of the customer base's sense of urgency given recent commodity price volatility. He also asked new CFO Sergio Maiworm to expand on his financial philosophy, particularly regarding free cash flow conversion and maximizing shareholder value.

    Answer

    CEO Michael Jardon characterized customer sentiment as convicted in executing existing long-cycle deepwater projects but cautious on committing to new, short-cycle activity due to market uncertainty. CFO Sergio Maiworm stated his focus is on increasing free cash flow conversion by attacking all avenues: expanding margins, improving capital deployment efficiency, and fine-tuning strategic objectives, including accretive M&A, to help a 'fantastic organization' become even better.

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    Josh Jayne's questions to EXPRO GROUP HOLDINGS (XPRO) leadership • Q2 2025

    Question

    Josh Jayne of Daniel Energy Partners asked for an assessment of the customer base's sense of urgency given recent commodity price volatility. He also invited the new CFO to expand on his financial philosophy, particularly regarding free cash flow conversion and maximizing shareholder value.

    Answer

    CEO Michael Jardon described customer sentiment as convicted in executing existing deepwater projects but more cautious on initiating new, short-cycle activities due to market uncertainty. CFO Sergio Maiworm stated his primary focus is on increasing free cash flow conversion by expanding EBITDA margins, improving capital deployment efficiency, and optimizing processes. He emphasized his goal is to help a great company become even better by finding accretive growth opportunities and fine-tuning strategic objectives.

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    Josh Jayne's questions to EXPRO GROUP HOLDINGS (XPRO) leadership • Q3 2024

    Question

    Josh Jayne asked about the value proposition of Expro's products amid high rig day rates, how the oil price correction has impacted M&A opportunities, and what cost-saving initiatives are planned for 2025 to support margins.

    Answer

    CEO Michael Jardon affirmed that the value proposition for efficiency-driving technology remains strong. On M&A, he said the focus is on long-term industrial logic, not short-term price moves. He and CFO Quinn Fanning detailed a pre-existing cost initiative, now being accelerated, focused on improving operating leverage through process efficiency and technology, not just headcount cuts.

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    Josh Jayne's questions to OCEANEERING INTERNATIONAL (OII) leadership

    Josh Jayne's questions to OCEANEERING INTERNATIONAL (OII) leadership • Q2 2025

    Question

    Josh Jayne from Daniel Energy Partners asked for confirmation on improved future visibility in the Offshore Projects Group (OPG) business. He also requested more detail on how the recently passed 'Big Beautiful Bill' could provide further growth for the company's AdTech business lines.

    Answer

    President and CEO Roderick Larson confirmed that visibility in the OPG segment has improved, largely due to securing significant, long-term international contracts like the one for BP in Mauritania. Larson then detailed the broad positive impact of the new legislation on AdTech, highlighting increased funding for UUVs, the revitalization of space programs like Artemis which benefits their human spaceflight and thermal protection systems work, and accelerated submarine maintenance programs for the Marine Services division.

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    Josh Jayne's questions to OCEANEERING INTERNATIONAL (OII) leadership • Q2 2025

    Question

    Josh Jayne from Daniel Energy Partners questioned the improved visibility and longer-term bookings in the OPG business and asked for more detail on how Oceaneering is positioning itself to capitalize on the growth opportunities presented by the recently passed 'Big Beautiful Bill' for its AdTech business.

    Answer

    President and CEO Roderick Larson confirmed that OPG's visibility has improved due to large, long-term international contracts like the BP Mauritania award. Regarding the new legislation, he detailed significant opportunities across AdTech, including increased funding for UUVs, a revival in space projects like Artemis, and accelerated demand for submarine maintenance and new builds, for which the company is already planning to expand capacity.

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    Josh Jayne's questions to OCEANEERING INTERNATIONAL (OII) leadership • Q2 2025

    Question

    Josh Jayne of Daniel Energy Partners questioned the increased visibility in the Offshore Projects Group (OPG) and asked for more detail on the potential growth impact from the recently passed reconciliation bill on the AdTech business lines.

    Answer

    President and CEO Roderick Larson confirmed that OPG visibility has improved due to booking large, long-term international contracts, such as for BP in Mauritania, which create a stable base of work. Regarding the new legislation, he detailed significant positive impacts across AdTech, including increased funding for UUVs, the revitalization of space programs like Artemis which benefits their human spaceflight and thermal protection systems work, and accelerated submarine maintenance programs that will drive demand for the Marine Services division.

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    Josh Jayne's questions to OCEANEERING INTERNATIONAL (OII) leadership • Q2 2025

    Question

    Josh Jayne of Daniel Energy Partners inquired about the increased booking visibility in the Offshore Projects Group (OPG) and requested more detail on the potential growth impact from the recently passed 'Big Beautiful Bill' on the AdTech business lines.

    Answer

    President and CEO Roderick Larson confirmed that OPG's visibility has improved due to securing large, long-term international contracts, such as with BP in Mauritania. Regarding the new legislation, Mr. Larson detailed significant positive impacts across AdTech, including increased funding for UUVs, a resurgence in space programs like Artemis, and accelerated funding for submarine maintenance and new builds, which may prompt Oceaneering to expand its capacity.

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    Josh Jayne's questions to HELIX ENERGY SOLUTIONS GROUP (HLX) leadership

    Josh Jayne's questions to HELIX ENERGY SOLUTIONS GROUP (HLX) leadership • Q2 2025

    Question

    Josh Jayne of Daniel Energy Partners inquired about the pipeline of other large shallow water abandonment opportunities similar to the recent Exxon agreement and asked about the decision timeline for returning to a two-vessel market in the North Sea for 2026.

    Answer

    VP - Commercial Daniel Stuart indicated that while other opportunities exist, they are generally framework agreements rather than firmly contracted work, with demand expected to increase in 2026. Regarding the North Sea, COO Scotty Sparks stated that the decision to reactivate the Seawell depends on the award of large decommissioning tenders. He expects to know by Q4 2025 whether Helix will return to a two-vessel market in 2026.

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

    Josh Jayne's questions to Weatherford International (WFRD) leadership • Q2 2025

    Question

    Josh Jayne asked about the deepwater opportunity for Managed Pressure Drilling (MPD), questioning the pace of customer adoption and the evolution of the technology.

    Answer

    President and CEO Girish Saligram expressed a bullish outlook on MPD, highlighting its evolution toward a holistic 'managed pressure wells' concept. He noted significant customer interest and quotation activity, but stated that a meaningful revenue uptick from these deepwater projects is not expected until the second half of 2026 and into 2027, as MPD becomes a key differentiator for rig operators.

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    Josh Jayne's questions to DNOW (DNOW) leadership

    Josh Jayne's questions to DNOW (DNOW) leadership • Q1 2025

    Question

    Josh Jayne from Daniel Energy Partners asked for the current percentage of DNOW's U.S. business tied to upstream activity and what assumptions for rig and completion counts are embedded in the full-year guidance. He also inquired about the M&A landscape and whether market volatility makes it more difficult to complete deals.

    Answer

    CEO David Cherechinsky estimated that the U.S. business is approximately 70% upstream-levered. He acknowledged potential rig count declines but stated that the revenue impact is uncertain and could be fully offset by price increases from tariffs. Regarding M&A, Cherechinsky noted that while recent oil price volatility might cause some seller caution, DNOW has several active conversations and has not yet seen tangible evidence of sellers pulling back, describing the current M&A activity level as normal.

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    Josh Jayne's questions to DNOW (DNOW) leadership • Q4 2024

    Question

    Josh Jayne requested the 2025 outlook for DNOW's Canadian and international markets and asked about the current M&A environment, including how the company balances acquisition opportunities with its aggressive share repurchase program.

    Answer

    President and CEO David Cherechinsky projected relatively flat activity for both Canada and international markets in 2025, noting a strategic high-grading in the international business to improve long-term profitability. Executive Brad Wise addressed M&A, stating the opportunity pipeline is steady. He affirmed DNOW's capacity to simultaneously fund organic growth, pursue acquisitions, and execute its share buyback program, as demonstrated in 2024. The company will favor M&A for the right deal but will otherwise prioritize share repurchases.

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    Josh Jayne's questions to Transocean (RIG) leadership

    Josh Jayne's questions to Transocean (RIG) leadership • Q4 2024

    Question

    Josh Jayne asked about the future direction of rig safety technology beyond HaloGuard and inquired about the potential catalysts for increased drilling activity in the U.S. Gulf of Mexico.

    Answer

    President and COO Keelan Adamson explained that future technology development will focus on assisting crews with critical decision-making and preventing harm during major accident hazard activities. CEO Jeremy Thigpen noted that while a favorable political administration would be positive for the Gulf of Mexico, any resulting increase in demand would take time to materialize due to long project cycles.

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    Josh Jayne's questions to Smart Sand (SND) leadership

    Josh Jayne's questions to Smart Sand (SND) leadership • Q3 2024

    Question

    Inquired about the drivers behind the expected growth in the Industrial Product Solutions (IPS) segment, the company's future strategy for shareholder returns, and the outlook for the Canadian market.

    Answer

    The IPS growth is based on new business being pursued, primarily in glass sand. Shareholder returns will be opportunistic, balancing special dividends and buybacks based on free cash flow generation. The company is very optimistic about the Canadian market, citing the Blair facility's logistical advantages and the expected increase in natural gas production to support new LNG facilities.

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