Thu, May 15, 3:03 PM (29 days ago)
**Energy 11, L.P. (E11) Q1 2025 Financial Summary** **Company Overview:** Energy 11, L.P. (E11) is a Delaware limited partnership focused on acquiring and developing oil and natural gas properties in the United States. The partnership has no officers, directors, or employees, with day-to-day management handled by the General Partner, Energy 11 GP, LLC. **Q1 2025 Financial Performance:** **Revenue:** - Total revenue increased by 13.4% to $20.9 million, driven by higher sales volumes and natural gas prices. - Oil revenue: $16.9 million (realized price of $69.61 per barrel) - Natural gas revenue: $1.7 million (realized price of $4.01 per Mcf) - Natural gas liquids (NGL) revenue: $2.3 million (realized price of $37.00 per BOE) **Profit Margins:** - Operating income increased by 6.2% to $5.6 million. - Net income rose by 5.9% to $5.6 million. - Basic and diluted net income per common unit: $0.29 (up from $0.28 in Q1 2024) **Cash Flow:** - Net cash flow provided by operating activities: $16.1 million (up from $12.5 million in Q1 2024) - Capital expenditures: $0.6 million (down from $5.2 million in Q1 2024) - Distributions paid to limited partners: $6.6 million ($0.35 per common unit) **Earnings Changes:** - The increase in revenue and net income was primarily driven by higher sales volumes and natural gas prices, which offset the impact of lower oil prices. **Quarterly Performance Discussion:** - The partnership's results were positively impacted by the completion of 15 new wells in the summer of 2024. - Sold production volumes increased by 17.4% to 374,564 BOE. - The partnership's liquidity is dependent on cash on hand, cash from operations, and availability under the BF Credit Facility. **Trends and Uncertainties:** - Oil prices declined through Q1 2025 and into Q2, with factors such as U.S. trade policies, OPEC production quotas, and global economic growth projections negatively impacting prices. - The partnership faces challenges related to natural production volume declines and the need to add reserves in excess of production to support future growth. - The partnership's liquidity and ability to fund capital expenditures are sensitive to changes in oil and natural gas prices and production levels. **Future Operations Impact:** - The partnership anticipates that it may be obligated to invest at least an additional $100 million from 2025 through 2029 to participate in new well development in the Sanish Field. - The partnership's ability to generate sufficient cash from operations and maintain availability under its credit facility will be crucial for funding capital expenditures and supporting future distributions. **Ticker:** E11 **Full Name:** Energy 11, L.P.