Latest news with #Bayswater
Yahoo
6 days ago
- Business
- Yahoo
PROP vs. CIVI: Which DJ Basin Player Has the Upper Hand?
Prairie Operating Co. PROP and Civitas Resources CIVI are two key independent energy firms with operations deeply rooted in Colorado's Denver-Julesburg (DJ) Basin. PROP, a newer entrant with a bold consolidation strategy, has expanded rapidly through high-profile acquisitions. In contrast, CIVI is a more established player, sharpening its focus on cost discipline while also expanding into the high-return Permian shared presence in the DJ Basin makes them natural competitors. With oil prices hovering in uncertain territory and investor appetite leaning toward disciplined capital deployment and free cash flow visibility, it's crucial to evaluate which name better balances risk, growth and return dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now. Strategic Growth via Acquisitions: PROP has undergone a dramatic transformation since 2023, executing over $800 million in deals that tripled its scale. Acquisitions of Genesis, Nickel Road, and Bayswater have added 54,000 net acres and more than 28 thousand barrels of oil-equivalent per day (BOE/d) in output. With an estimated 10-year inventory runway and over 580 gross locations, Prairie Operating Co.'s strategy positions it for long-term growth in a basin where large-cap competitors are pulling back. Its rural Colorado location also reduces permitting risk and accelerates development Firepower and Production Growth: Prairie Operating Co.'s financial metrics are quickly scaling after the $602 million acquisition of Bayswater assets. Adjusted EBITDA for 2025 is forecasted between $350 million and $370 million, a massive leap from the $140 million previously projected. Net income guidance stands between $69 million and $102 million, while the company maintains a low leverage ratio of 1.0x. With $475 million in liquidity, PROP has the balance sheet strength to fund growth without diluting shareholders. On the production side, Prairie Operating Co. expects to average 29,000 to 31,000 BOE/d in 2025, representing a more than 300% increase year over Hedging Locks in Upside: One of the more underappreciated aspects of Prairie Operating Co.'s story is its proactive hedging strategy. It has locked in about 85% of its remaining 2025 daily production at $68.27/bbl WTI and $4.28/MMBtu Henry Hub. For 2026 through Q1 2028, the hedges average $64.29/bbl and $4.09/MMBtu. This not only secures visibility on future cash flows but also shields the company from downside risk in a volatile energy market. In fact, the hedge book is giving it about $70 million in built-in value at today's prices. Prairie Operating Co.'s program also stands out for its scope and timing, implemented just before a pullback in commodity prices. Cost Optimization and Cash Flow Strength: Civitas Resources focuses heavily on driving efficiencies. A company-wide cost optimization plan is targeting $100 million in additional annual free cash flow, with 40% of those savings expected to be hit by the second half of 2025. Deals like a new oil gathering agreement are helping cut costs and boost margins. In 2024, CIVI generated $1.3 billion in free cash flow and expects another $1.1 billion in Permian Expansion: One favorable investment case for Civitas Resources centers on its sharpened focus and early success in the Permian Basin, particularly in the Delaware sub-region. In Q1 2025, Civitas strategically shifted 40% of its capital activity to the Delaware Basin, which has consistently offered the highest returns within its portfolio. This move is already yielding tangible operational gains. According to management, the Delaware team is drilling approximately 10% faster than expected, reflecting meaningful efficiency improvements. Additionally, longer lateral developments enabled by prior ground acquisitions are enhancing capital efficiency Balance Sheet and Hedging Strategy: Civitas remains laser-focused on achieving its $4.5 billion net debt target by year-end 2025. The company has nearly $200 million in hedge value secured, with about 50% of crude volumes hedged, insulating free cash flow against further oil price volatility. Management noted they have structured their base dividend and spending to remain cash flow neutral even if WTI dips to $40. Both stocks have been hammered over the past year. PROP is down 71%, while CIVI has fallen 61%. The declines reflect weak oil prices, EPS misses, and macro concerns. However, Prairie Operating Co.'s sharper decline may also reflect uncertainty around its recent acquisitions. Image Source: Zacks Investment Research PROP trades at just 0.27X forward sales, a significant discount to Civitas Resources' 0.56X. Image Source: Zacks Investment Research According to Zacks' estimates, PROP's earnings are set to surge 382.9% in 2025 and another 13.5% in 2026. Image Source: Zacks Investment Research Civitas Resources, in contrast, is expected to see EPS fall by 29.3% in 2025 and another 9.5% in 2026. Image Source: Zacks Investment Research These trends underscore Prairie Operating Co.'s near-term growth trajectory versus CIVI's short-term reset. Both PROP and CIVI currently carry a Zacks Rank #3 (Hold), reflecting mixed near-term prospects. CIVI offers strong free cash flow, disciplined cost control, and targeted Permian focus. Prairie Operating Co., meanwhile, brings exciting growth potential, low valuation and accelerating volumes. While both stocks have merits, PROP appears slightly better positioned at this moment given its explosive earnings growth outlook and improving cash flow can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Civitas Resources, Inc. (CIVI) : Free Stock Analysis Report Prairie Operating Co. (PROP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Fashion Network
24-04-2025
- Entertainment
- Fashion Network
Mulberry's new campaign shines spotlight on its manufacturing
Mulberry 's latest campaign rejects exotic locations and fantasy scenarios and instead focuses on something at the heart of the British brand — its leathercraft and artistry in a campaign featuring supermodel Erin O'Connor with artist and emerging talent Kesewa Aboah. It was shot at The Rookery, one of Mulberry's two carbon-neutral Somerset factories, and takes a closer look at the people, places, and processes involved in making each bag. The campaign was shot by the photographer Felix Cooper and styled by Harry Lambert. It features the new Suede Tote, a casual, everyday bag that comes in regular and large sizes and features a discreet, debossed Mulberry Tree logo, a 'playful, recognisable motif' that's 'back again after a few years away'. Elsewhere, the Amberley – first launched in 2017 –evolves with a new, larger Top Handle silhouette, which highlights the classic, equestrian-inspired Rider's Lock and comes in a Night Sky Croc texture. Core Mulberry styles return in full force across the campaign, including the brand's Bayswater in Blossom Pink; the Mini Islington Bucket in Oak and new-season Orchid Bloom; and the relaxed Mini Soft Bayswater – a minimalist update to the Bayswater – in Chalk. There are also restored pre-owned pieces including an archive Small Amberley Satchel to round off the offering. Accompanying the campaign is a behind-the-scenes, documentary-style photo series shot by Paola Ristoldo that 'offers an intimate look at the craftspeople… plus the everyday trinkets and treasures that mean so much to them'.
Fashion Network
24-04-2025
- Entertainment
- Fashion Network
Mulberry's new campaign shines spotlight on its manufacturing
Mulberry 's latest campaign rejects exotic locations and fantasy scenarios and instead focuses on something at the heart of the British brand — its leathercraft and artistry in a campaign featuring supermodel Erin O'Connor with artist and emerging talent Kesewa Aboah. It was shot at The Rookery, one of Mulberry's two carbon-neutral Somerset factories, and takes a closer look at the people, places, and processes involved in making each bag. The campaign was shot by the photographer Felix Cooper and styled by Harry Lambert. It features the new Suede Tote, a casual, everyday bag that comes in regular and large sizes and features a discreet, debossed Mulberry Tree logo, a 'playful, recognisable motif' that's 'back again after a few years away'. Elsewhere, the Amberley – first launched in 2017 –evolves with a new, larger Top Handle silhouette, which highlights the classic, equestrian-inspired Rider's Lock and comes in a Night Sky Croc texture. Core Mulberry styles return in full force across the campaign, including the brand's Bayswater in Blossom Pink; the Mini Islington Bucket in Oak and new-season Orchid Bloom; and the relaxed Mini Soft Bayswater – a minimalist update to the Bayswater – in Chalk. There are also restored pre-owned pieces including an archive Small Amberley Satchel to round off the offering. Accompanying the campaign is a behind-the-scenes, documentary-style photo series shot by Paola Ristoldo that 'offers an intimate look at the craftspeople… plus the everyday trinkets and treasures that mean so much to them'.
Fashion Network
24-04-2025
- Entertainment
- Fashion Network
Mulberry's new campaign shines spotlight on its manufacturing
Mulberry 's latest campaign rejects exotic locations and fantasy scenarios and instead focuses on something at the heart of the British brand — its leathercraft and artistry in a campaign featuring supermodel Erin O'Connor with artist and emerging talent Kesewa Aboah. It was shot at The Rookery, one of Mulberry's two carbon-neutral Somerset factories, and takes a closer look at the people, places, and processes involved in making each bag. The campaign was shot by the photographer Felix Cooper and styled by Harry Lambert. It features the new Suede Tote, a casual, everyday bag that comes in regular and large sizes and features a discreet, debossed Mulberry Tree logo, a 'playful, recognisable motif' that's 'back again after a few years away'. Elsewhere, the Amberley – first launched in 2017 –evolves with a new, larger Top Handle silhouette, which highlights the classic, equestrian-inspired Rider's Lock and comes in a Night Sky Croc texture. Core Mulberry styles return in full force across the campaign, including the brand's Bayswater in Blossom Pink; the Mini Islington Bucket in Oak and new-season Orchid Bloom; and the relaxed Mini Soft Bayswater – a minimalist update to the Bayswater – in Chalk. There are also restored pre-owned pieces including an archive Small Amberley Satchel to round off the offering. Accompanying the campaign is a behind-the-scenes, documentary-style photo series shot by Paola Ristoldo that 'offers an intimate look at the craftspeople… plus the everyday trinkets and treasures that mean so much to them'.
The Guardian
11-04-2025
- Entertainment
- The Guardian
The perfect ‘new' handbag? An old one
The world seems to get loopier by the minute, so I am delighted to bring you news of one small way in which it is becoming more sane. In fashion, until recently, the only desirable handbag was a new one. 'It bags' have come in all shapes and sizes over the years. We have lived through and lusted after the Paddington by Chloé, the Bayswater by Mulberry, Gucci's Jackie bag, Dior's Saddle and the Bottega Veneta Cassette. The Guardian's journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. The bag of the moment has been teeny tiny one season, and sack-like the next. It has been understated and in-the-know some years, brash and statement-making in others. But through every chop and change, there has been one constant: we wanted our bags box-fresh and brand-new. The dream was gleaming hardware, straight-out-of-the-dust-bag leather, a pert silhouette unstretched by use. But finally, fashion has fallen for the charms of love-worn handbags. As vintage has become a flex, bags that look as if they've lived a life are now seen as status symbols. At Balenciaga, bags on the catwalk now come scuffed and softened. At Coach, they have graffiti scribbles on them. At Bottega Veneta, they have rolled-up newspapers sticking out of them. At Miu Miu they have spare shoes poking out and emergency sweaters looped through their handles. The new obsession with old handbags is changing the way bags are made and marketed. The hottest bag of 2025 is Louis Vuitton's reissue of a collaboration with Takasha Murakami from more than 20 years ago. The Haribo-bright monogram on white, a Y2K-meets-pop-art take on the brown and gold classic Vuitton colours, looks as good now as it did when it was launched in 2003. I've still got mine from the first time around and the reissue reminded me to take it out of retirement. When I put it away, I remember thinking it was past its best because it looked old – but in our more vintage-enlightened era, I love it all the more for looking as if it has been around the block a few times. The British film director Joanna Hogg, who made The Souvenir, recently made a 23-minute film for Miu Miu about the life of a white handbag, following it from unboxing to old age. All of this adds up to a radical new perspective: bags don't have to be spanking new to be desirable. This is deeply, wonderfully sane. Because when you find a bag that you love to use, rather than just love to look at, you love it more every day. A new bag is an unknown quantity, because bags only reveal their strengths and weaknesses when tested out in the wild. Sign up to Fashion Statement Style, with substance: what's really trending this week, a roundup of the best fashion journalism and your wardrobe dilemmas solved after newsletter promotion Some bags turn out to have a Tardis-like ability to fit everything you need without looking as if you are carting luggage around: but you won't know this until you've road tested it. Other bags have an incredibly annoying tendency to suck objects into dark depths so that you can never find anything. A frazzled rummage to locate a ringing phone is not fun. We need to rethink the way we buy handbags. A couple of years ago, I decided to give myself a Loewe basket bag as a birthday treat. In the store, I asked to see the bags I was considering, and proceeded to decant my possessions into each one to see if they would fit, walking around the store to see if the strap would dig in or the weight would bounce at an awkward point. The sales assistants were charming but clearly thought I was eccentric. But you wouldn't buy a coat without trying it on over your jumper. Why should buying a bag be different? Still, a new bag is always a punt. And you know what makes a bag more valuable than any designer price tag? The confidence of knowing it will do the job. The battle scars and wrinkles of age don't detract from its worth, they prove it. The best new bag is an old bag. At last, something that makes sense. Model: Tomiris at Milk. Styling assistant: Sam Deaman. Hair and makeup: Sophie Higginson using Davines and Charlotte Tilbury. Dress, £270, Essentiel Antwerp. Earrings, £37, & Other Stories. Bag, £129, Dune London
