In today’s briefing:
- Enterprise Product Partners: Major Drivers
- SDRL: Sailing Thru an Acquisition
- Valero Energy: Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)
Enterprise Product Partners: Major Drivers
- Enterprise Product Partners delivered a mixed set of results in the quarter.
- Enterprise moved a record 11.2 million barrels of oil equivalent per day which helped it deliver an all-around beat.
- They believe that a wide gas-to-crude differential could result in a considerable cost advantage for American petrochemicals globally.
SDRL: Sailing Thru an Acquisition
- SDRL is trying to put emphasis on receiving all the required regulatory approvals to close the Aquadrill transaction than on reporting its quarterly results
- Fourth quarter 2022 is not likely to show much of the benefits the business and industry have been experiencing in recent weeks
- Day rates have continued to increase as utilization rates remain high and companies are not willing to reactivate their drill ships unless customers pay for the process
Valero Energy: Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)
- Valero had a solid year-end, with refineries running at 97% of their capacity in a positive refining margin situation.
- Besides, significantly discounted sour crude oils and fuel oils helped its refinery.
- High natural gas costs in Europe also encouraged refiners to process sweet crude oils rather than sour crude oils, placing additional pressure on sour crude oils.
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