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    Nate Pendleton

    Research Analyst at Texas Capital

    Nate Pendleton is an analyst at Texas Capital Securities, specializing in general sector research and covering five publicly listed companies as part of his equity research activities. With a track record measured by TipRanks at a 0.82-star rating, his performance metrics indicate limited significant outperformance to date, though specific average return and success rate data are not publicly available. Having joined Texas Capital in recent years, Pendleton holds the CFA credential and likely maintains industry-standard securities licenses as part of his analyst responsibilities, though FINRA registration details are not explicitly listed. His analysis contributes to Texas Capital’s research coverage, focusing on providing insights and recommendations to institutional investors.

    Nate Pendleton's questions to NET Power (NPWR) leadership

    Nate Pendleton's questions to NET Power (NPWR) leadership • Q2 2025

    Question

    Nate Pendleton from Texas Capital Bank questioned if any performance or operational trade-offs were made to achieve the value engineering savings. He also asked how the recent 45Q tax credit parity for CO2 utilization impacts Net Power's total addressable market.

    Answer

    COO Marc Horstman stated that the value engineering efforts followed a 'design to cost' approach that reduced costs without sacrificing the plant's core reliability or performance requirements. President, CEO & Director Danny Rice explained that 45Q parity for EOR is a 'big deal' for Project Permian, making it more economically compelling and helping a first-of-a-kind plant achieve a competitive LCOE right out of the gate.

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    Nate Pendleton's questions to NET Power (NPWR) leadership • Q4 2024

    Question

    Nate Pendleton from Texas Capital requested more details on the industrial-scale platform, including its addressable market and royalty structure, and asked about the opportunity in California through the Carbon TerraVault MOU.

    Answer

    COO Brian Allen described the industrial platform as a new market for smaller, behind-the-meter applications, with CFO Akash Patel clarifying that NET Power acts as a pure licensor with minimal capital outlay. CEO Daniel Rice highlighted the Carbon TerraVault MOU as a synergistic partnership to provide California with new baseload power by co-locating plants with CO2 storage, with specifics to be informed by ongoing engineering studies.

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    Nate Pendleton's questions to Berry Corp (bry) (BRY) leadership

    Nate Pendleton's questions to Berry Corp (bry) (BRY) leadership • Q2 2025

    Question

    Nate Pendleton from Texas Capital inquired about Berry's ability to sustain its 20% well cost reduction in the Uinta Basin and asked about other long-term opportunities within the California portfolio beyond the current sidetrack program.

    Answer

    CEO Fernando Araujo stated that there is room for further cost improvements in the Uinta, potentially another 5% or more, through better dual-fuel fleet performance and water management. He also detailed a vast portfolio of opportunities in California, including horizontal drilling in the Monarch formation, development in the Hill property, and workover potential in Round Mountain, all of which offer high rates of return.

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    Nate Pendleton's questions to Berry Corp (bry) (BRY) leadership • Q4 2024

    Question

    Nate Pendleton inquired about the progress of joint venture discussions for future Uinta Basin development in light of recent well results. He also asked about the opportunity for Berry's C&J Well Services division following new P&A legislation in California and the competitive landscape.

    Answer

    CEO Fernando Araujo stated that while JV discussions are ongoing to potentially accelerate Uinta development, Berry is comfortable proceeding alone and will only agree to a deal that is accretive and doesn't undervalue the asset. President Danielle Hunter addressed the P&A question, noting the new legislation will increase demand, positioning C&J well. However, she believes industry consolidation, which Berry is considering, is needed to materially impact pricing and activity levels.

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    Nate Pendleton's questions to TALOS ENERGY (TALO) leadership

    Nate Pendleton's questions to TALOS ENERGY (TALO) leadership • Q2 2025

    Question

    Nate Pendleton of Texas Capital asked for the key drivers behind the company's improved full-year guidance, despite the Sunspear shut-in, and inquired about specific regulatory policies that could further boost production in the Gulf of America.

    Answer

    President and CEO Paul Goodfellow attributed the improved guidance to a company-wide culture of efficiency and strong execution, which has led to better-than-planned uptime. On policy, he highlighted frequent lease sales, updated commingling rules, and a more effective process for managing abandonment liabilities as key areas for improvement.

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    Nate Pendleton's questions to California Resources (CRC) leadership

    Nate Pendleton's questions to California Resources (CRC) leadership • Q2 2025

    Question

    Nate Pendleton from Texas Capital asked for an update on the Class VI permitting progress for CTV projects and inquired about legislative support for CO2 pipeline development in California.

    Answer

    EVP Chris Gould confirmed progress on all CTV permits, expecting a draft permit for the A1A2 reservoir this year and noting the EPA is committed to expediting the process. President & CEO Francisco Leon highlighted strong momentum for Assembly Bill 881, which would lift the moratorium on CO2 pipelines and could be in effect by January 2026, unlocking carbon management at scale.

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    Nate Pendleton's questions to California Resources (CRC) leadership • Q4 2024

    Question

    Nate Pendleton from Texas Capital asked for specific milestones regarding the MOU with National Cement and inquired about the strategy for the CO2 transportation component. As a follow-up, he asked about the new CFO's top financial priorities and the rationale for redeeming only half of the 2026 senior notes.

    Answer

    CEO Francisco Leon described the National Cement deal as a key brownfield partnership and stated CRC is actively working with federal and state bodies to lift the moratorium on CO2 pipelines. CFO Clio Crespy outlined her priorities as maintaining a strong balance sheet, driving cash flow, and disciplined capital allocation. She explained that redeeming only half the 2026 notes was a strategic move to preserve flexibility for growth and shareholder returns, with plans to address the remainder well before maturity.

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    Nate Pendleton's questions to Archrock (AROC) leadership

    Nate Pendleton's questions to Archrock (AROC) leadership • Q2 2025

    Question

    Nate Pendleton of Texas Capital questioned the elasticity of demand for horsepower given falling rig counts and asked about the durability of the 2026 order book. He also inquired about competitive dynamics outside the Permian.

    Answer

    President & CEO D. Bradley Childers affirmed the 2026 order book is robust and durable, with the minimum $250 million CapEx guidance considered a firm floor. SVP & CFO Doug Aron added that historically low stop activity and new gas projects support this view. Childers also explained that while all basins are competitive, Archrock's strong partnerships with key customers provide a stable planning cycle and a preferred provider position, ensuring consistent demand.

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    Nate Pendleton's questions to Archrock (AROC) leadership • Q2 2025

    Question

    Nate Pendleton of Texas Capital inquired about the elasticity of demand for compression horsepower given the recent drop in rig counts, asking how durable the 2026 order book is against potential customer delays. He also asked about competitive dynamics in basins outside of the Permian.

    Answer

    President & CEO D. Bradley Childers affirmed that the 2026 order book and the minimum spending level of $250 million are considered robust and durable. SVP & CFO Doug Aron added that growing natural gas volumes are driving historically low stop activity, supporting this view. On competition, Childers explained that Archrock's position as a 'partner of choice' for key customers provides a stable planning cycle and a dependable relationship, mitigating competitive pressures in various basins.

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    Nate Pendleton's questions to Archrock (AROC) leadership • Q2 2025

    Question

    Nate Pendleton questioned the elasticity of demand and the durability of the 2026 order book amid falling rig counts. He also asked about the competitive dynamics in basins outside of the Permian.

    Answer

    President & CEO D. Bradley Childers asserted that the 2026 order book and the minimum CapEx level of $250 million are robust and durable. CFO Doug Aron added that growing natural gas volumes are reflected in historically low stop activity for their equipment. On competition, Mr. Childers explained that Archrock's status as a preferred partner for key customers provides a stable planning cycle and makes them the first call for new horsepower needs, regardless of the basin.

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    Nate Pendleton's questions to Archrock (AROC) leadership • Q1 2025

    Question

    Nate Pendleton inquired about the pricing difference between new and older compression assets and asked how much of Archrock's fleet is still considered non-core for potential divestment.

    Answer

    President and CEO D. Childers explained that there is little to no pricing difference for units under 10 years old, but older equipment can see differentials due to technology and efficiency. He clarified that the amount of non-core horsepower is now 'very negligible,' as the company has shifted from large-scale transformation to a more surgical, strategic approach to fleet management.

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    Nate Pendleton's questions to W&T OFFSHORE (WTI) leadership

    Nate Pendleton's questions to W&T OFFSHORE (WTI) leadership • Q2 2025

    Question

    Nate Pendleton of Texas Capital inquired about potential policy actions from the current administration to incentivize production in the Gulf of America and also asked for the key drivers behind the strong implied production ramp-up expected in the latter half of 2025.

    Answer

    Founder, Chairman, CEO & President Tracy Krohn discussed potential policy support, including lower royalties and streamlined regulations like changes to the 'idle iron act,' to incentivize Gulf of America production. Executive VP & COO William Williford added that the expected production increase in late 2025 is driven by ongoing low-cost workovers, recompletions, and the continued ramp-up of a recently acquired Cox field.

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    Nate Pendleton's questions to Solaris Energy Infrastructure (SEI) leadership

    Nate Pendleton's questions to Solaris Energy Infrastructure (SEI) leadership • Q2 2025

    Question

    Nate Pendleton asked about the permitting status for the data center fleet and inquired about operational levers being used to mitigate the expected activity decline in the Logistics Solutions segment.

    Answer

    CFO & President Kyle Ramachandran clarified that while the customer handles permitting, Solaris provides support; one data center has its Title V air permit, and the second is in process. Chairman & CEO William Zartler addressed the logistics question, stating they are actively managing fixed costs to protect margins without compromising safety or reliability.

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