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Delek Logistics Partners Lp
Independence Oil and Gas (DKL) is a master limited partnership (MLP) that focuses on the acquisition, development, production, and gathering of natural gas, natural gas liquids (NGLs), and crude oil in the United States. The company primarily operates in the Anadarko and Arkoma basins in Oklahoma and the Delaware Basin in West Texas.
When it comes to financial performance, here are some key points to consider:
* As of December 31, 2021, DKL had total estimated proved reserves of approximately 1.4 trillion cubic feet equivalent (tcfe) of natural gas, NGLs, and crude oil.
* For the year ended December 31, 2021, DKL reported net income of $116.5 million, compared to a net loss of $41.3 million for the same period in 2020.
* The company's distributable cash flow (DCF) for the year ended December 31, 2021, was $156.4 million, compared to $82.6 million for the same period in 2020.
* DKL's DCF coverage ratio for the year ended December 31, 2021, was 1.6x, indicating that the company generated sufficient cash flow to cover its distributions to unitholders.
In terms of growth, here are some notable points:
* DKL has a portfolio of high-quality assets in prolific basins with long-lived reserves, providing a stable foundation for growth.
* The company has a proven track record of acquiring and developing underdeveloped assets, enhancing their value through operational improvements and optimization of development plans.
* DKL has a strong balance sheet and access to capital markets, providing it with the financial flexibility to pursue growth opportunities.
* The company has a disciplined approach to capital allocation, focusing on high-return projects that generate attractive risk-adjusted returns for unitholders.
It's important to note that while DKL has a solid track record of financial performance and growth, investing in the stock market always carries risks. Investors should carefully consider their own investment objectives, risk tolerance, and financial situation before making any investment decisions.