Rattler Midstream LP - RTLR STOCK NEWS

Rattler Midstream LP (NASDAQ: RTLR) reported strong financial results for Q2 2022, with consolidated net income of $55.1 million, an increase of 48% from Q1. Adjusted EBITDA was $102.4 million, reflecting an 18% rise, while cash flow from operations was $73.2 million. Rattler declared a cash distribution of $0.30 per common unit. The company is undergoing a merger with Diamondback Energy, expected to finalize soon. The Q2 performance shows growth in both net income and Adjusted EBITDA, highlighting operational efficiency despite lower crude oil gathering volumes.

Rattler Midstream LP (NASDAQ: RTLR) announced it will release its second quarter 2022 financial results on August 3, 2022, after market close. Notably, due to the merger with Diamondback Energy (NASDAQ: FANG), Rattler will not conduct an earnings call or investor presentation for this quarter. Investors are encouraged to review the registration statement and other relevant documents filed with the SEC regarding the merger for important information. Rattler operates midstream assets in the Permian Basin, primarily serving Diamondback Energy.

Weiss Law is investigating potential breaches of fiduciary duty by Rattler Midstream LP's board of directors regarding its proposed merger with Diamondback Energy, Inc. Under the agreement, unitholders of Rattler will receive 0.113 units of Diamondback for each Rattler unit, translating to an implied value of approximately $15.08 based on Diamondback's recent closing price of $133.43. The investigation will assess whether the board acted in the best interest of unitholders and whether the merger consideration is adequate.

Rattler Midstream LP (NASDAQ: RTLR) reported a Q1 2022 net income of $37.1 million, a decrease of 17% from Q4 2021. Adjusted EBITDA rose 8% to $87.0 million. Cash flow from operations was $59.9 million with a Free Cash Flow of $44.9 million. The board approved a cash distribution of $0.30 per common unit, yielding 8.9% based on the closing unit price of $13.50. Rattler acquired a 10% stake in BANGL for $22.2 million, and repurchased 0.2 million common units at an average price of $11.90. The guidance for 2022 indicates a positive outlook in produced water gathering and distributions.

Rattler Midstream LP (NASDAQ: RTLR) will announce its first quarter 2022 financial results on May 3, 2022, after market close. A conference call will follow on May 4, 2022, at 9:00 a.m. CT for investors and analysts to discuss these results. Participants can join via phone or through a live webcast on Rattler's website. A replay will be available after the call until May 11, 2022. Rattler is a subsidiary of Diamondback Energy, operating midstream and energy-related infrastructure assets primarily in the Permian Basin, serving both Diamondback and third-party customers.

Rattler Midstream LP (NASDAQ: RTLR) announced its fourth-quarter and full-year 2021 results, reporting a consolidated net income of $44.5 million for Q4 2021, up 14% from Q3 2021. Adjusted EBITDA for Q4 reached $80.8 million, an 8% increase QoQ. The company generated $54.1 million in Free Cash Flow during the fourth quarter and plans a cash distribution of $0.30 per common unit. Key strategic developments include acquisitions totaling $282 million and a joint venture investment in the BANGL pipeline. Rattler's 2022 guidance anticipates net income between $160-$200 million.

WhiteWater Midstream, MPLX, and West Texas Gas have added Rattler Midstream as a fourth partner in their BANGL joint venture. Concurrently, Diamondback Energy entered into a long-term natural gas liquids product dedication with BANGL. The venture commenced full commercial service in Q4 2021, facilitating NGL takeaway capacity from MPLX and WTG plants in the Permian Basin to Sweeny, Texas. BANGL aims to expand its capacity up to 300,000 barrels per day, enhancing the efficiency of gas processing and fractionation in the region.

Rattler Midstream LP (NASDAQ: RTLR) plans to release its fourth quarter 2021 financial results on February 23, 2022, post-market. A conference call and webcast for investors will occur on February 24, 2022, at 9:00 a.m. CT, to discuss the results. Participants can access the call via phone or through the company's website. As a subsidiary of Diamondback Energy, Rattler focuses on midstream and energy-related infrastructure in the Permian Basin, offering services under long-term, fixed-fee contracts.

Rattler Midstream LP (NASDAQ: RTLR) has successfully completed a $160 million drop down transaction with Diamondback Energy (NASDAQ: FANG), acquiring water midstream assets. The deal was funded through cash on hand and borrowings from its revolving credit facility. Additionally, Rattler and Diamondback amended their commercial agreements to expand Rattler's service coverage to include more Diamondback leasehold acreage. This acquisition enhances Rattler's midstream operations in the Permian Basin, positioning it for continued development and growth.