Excelerate Energy, Inc. - EE STOCK NEWS

Excelerate Energy reported fourth-quarter net income of $33.9 million and full-year net income of $80.0 million for 2022. Adjusted net income was $34.1 million for Q4 and $108.7 million for the year. The company executed a 20-year Sales and Purchase Agreement with Venture Global for 0.7 MTPA of LNG in February 2023 and closed a $600 million credit facility. Notable developments include deploying FSRU Exemplar to Finland and extending the charter for FSRU Explorer by five years. The Board declared a quarterly dividend of $0.025 per share, payable April 27, 2023. Guidance for 2023 Adjusted EBITDA is $320 million to $340 million.

Excelerate Energy, Inc. (NYSE: EE) announced a quarterly cash dividend of $0.025 per share for Class A common stock for the quarter ending December 31, 2022. This dividend is payable on April 27, 2023 to shareholders on record by April 12, 2023. Additionally, its operating subsidiary will distribute $0.025 per interest to Class B limited partnership interest holders on the same date. The declaration and future dividends are dependent on the Board's discretion.

Excelerate Energy has announced the extension of its $350 million revolving credit facility and the addition of a $250 million term loan. The term loan will be used primarily to purchase the FSRU Sequoia, expected to be completed by April 2023. The credit facilities will now mature on March 17, 2027, and allow for a rise in total leverage ratios, enhancing the company's financial flexibility and supporting future growth. This financing reflects strong lender confidence in Excelerate's strategy and capabilities within the LNG industry.

Excelerate Energy has announced a five-year extension of its Time Charter Agreement with Dubai Supply Authority (DUSUP) for the FSRU Explorer, which is currently set to end in the fourth quarter of 2025. This extension underscores Excelerate's commitment to strengthening its regasification business and enhancing energy security in Dubai. The FSRU Explorer, operational since 2015, plays a critical role in the emirate's natural gas supply and offers flexibility to meet seasonal demand.

Excelerate Energy has signed a 20-year LNG Sales and Purchase Agreement (SPA) with Venture Global LNG for 0.7 million tonnes per annum (MTPA) of liquefied natural gas from the Plaquemines LNG facility in Louisiana. This strategic partnership aims to enhance energy security and support Excelerate's growth strategy by diversifying its LNG supply portfolio. CEO Steven Kobos emphasized the importance of this agreement in providing flexible and cost-effective natural gas solutions to customers worldwide. Venture Global's CEO Mike Sabel expressed excitement about the collaboration, highlighting its potential to address energy poverty globally.

Excelerate Energy, Inc. (NYSE: EE) will announce its fourth quarter and full year 2022 results on March 27, 2023, after U.S. market close. The earnings release and presentation will be accessible on the company's investor website. A conference call for investors and analysts is scheduled for March 28, 2023, at 8:30 a.m. Eastern Time, which will also be available through live webcast. Excelerate is focused on providing integrated LNG services and aims to revolutionize access to cleaner energy solutions. For more details, visit www.excelerateenergy.com.

Excelerate Energy, Inc. (NYSE: EE) announces that its Chief Financial Officer, Dana Armstrong, will participate in one-on-one investor meetings at the Raymond James 44th Annual Institutional Investors Conference in Orlando, Florida, on March 6, 2023. The company, based in The Woodlands, Texas, aims to innovate in the LNG sector, providing flexible regasification and integrated services. With a commitment to cleaner energy solutions, Excelerate operates globally with offices in major cities such as Dubai and Singapore. More details can be found on their website.

Excelerate Energy (NYSE: EE) announced the arrival of its floating storage and regasification unit (FSRU) Exemplar at Inkoo, Finland, on December 28, 2022. The FSRU will provide regasified LNG to Finland and the Baltic region under a 10-year charter with Gasgrid Finland Oy. The Exemplar is capable of regasifying over 5 bcm/y of LNG. Additionally, Excelerate Finland, a newly formed subsidiary, has secured agreements for commissioning volumes, enhancing its market presence in the region.

Excelerate Energy (NYSE: EE) announced that CEO Steven Kobos will present at the 2022 Wells Fargo 21st Annual Midstream & Utilities Symposium on December 7, 2022, at 12:55 p.m. Eastern Time. A live audio webcast and archived recording will be available on the Company’s website. The Company, based in The Woodlands, Texas, specializes in LNG services, focusing on rapid market access and reliable solutions worldwide.