Palm Beach, FL – August 30, 2022 – FinancialNewsMedia.com News Commentary – Mobile fueling emerged more recently. Mobile fueling has been around for decades. You can’t drive a huge bulldozer or crane into a gas station, so of course it’s necessary to refuel such equipment on-site. For decades, construction equipment has been fueled on-site via mobile fueling. Mobile fueling is a service where a fuel delivery company delivers fuel on-site for trucks, equipment, boats, cars or machinery. Historically, consumers/businesses had to pump fuel into their own equipment, either at a gas station, card-lock or from an on-site fuel storage tank. Mobile fueling changes that. With mobile fueling, your fuel supplier delivers fuel directly into on-site. This saves time and money and it reduces liability associated with fuel storage and dispensing. A recent report predicted growth in the market: “Mobile fuel storage tanks are used for transportation and storage of fuel and other industrial fluids to remote service areas, whether in-shop or in-field. It is used to store diesel fuel, motor oils, lubricants, liquid wastes, and other combustible liquid. These storage tanks are used in farms, the agricultural sector, shops, industrial facilities, and construction sites. The mobile diesel fuel tank has also been used as an emergency storage tank for supplying generators, vehicles, and other machinery in emergency periods. The mobile fuel tank is used for portable applications, so they can conform to multiple situations and projects and are available in 500 and 1,000-gallon capacity. The design and structure meet the end-user needs and requirements for storing fuel. The mobile fuel storage tank market is segmented into the material and end-user segment. The material segment is further segmented into carbon steel, high-density polyethylene (HDPE), and stainless steel. Stainless steel material is projected to boost the market growth as it delivers longer durability, highly resistant to the effects of corrosion and other natural elements like heat, and free from leaking. The end-user segment is further divided into the chemical, oil & gas, aviation, and others. The oil & gas segment contributes to the largest market share in the global market owing to the increasing application of storage of oil & gas.” Active companies in the markets this week include EzFill Holdings, Inc. (NASDAQ: EZFL), Spire Inc. (NYSE: SR), NGL Energy Partners LP (NYSE: NGL), Murphy Oil Corporation (NYSE: MUR), Marathon Oil Corporation (NYSE: MRO).
The article continued: “Increasing refining, transportation, production & exploration of oil & gas brings the application of mobile fuel storage tank. Fracking and transportation of gas drive the demand for the mobile fuel storage tank market in the projected period. North America is anticipated to hold the largest market share in the global market, owing to increasing production and exploration of oil & gas. U.S. holds a large portion of market share due to potential gas and oil reserves.”
EzFill Holdings, Inc. (NASDAQ: EZFL) BREAKING NEWS: EzFill Announces Geographic Expansion into West Coast Florida Market – EzFill Embracing the Famous Tampa Tag Line of “Come to Tampa Bay where Treasure Awaits” – EzFill Holdings, Inc. (“EzFill” or the “Company”), a pioneer and emerging leader in the mobile fuel industry, today announced the expansion in the West coast of Florida, specifically the Gulf of Mexico region of Tampa Bay.
Tampa Bay is Florida’s largest open water estuary, extending over 400 square miles and forming coastlines of Hillsborough, Manatee and Pinellas counties. The area includes a population of almost 3.2 million people – over two times the population of Miami. To that end, Tampa Bay represents a premier opportunity for EzFill to maximize growth in all three main verticals: commercial fleet, marine and sales direct to consumers.
“In a very short amount of time, we have been able to secure over 11 brand new fleet customers to our service offering. This includes one of the largest grocers within the country where our service commitment to them includes hundreds of thousands of gallons of fuel per year covered by two fills per day, seven days per week,” says EzFill Chief Commercial Officer, Rick Dery. Another new customer in this market, Pexco, a major produce distributor in the region promotes the service benefits. “This is a first for our fleet and I cannot express how enthusiastic we are at Pexco to utilize it. It’s all about freedom to do our work!” says Victor Hinson, Transportation Manager at Plant City based Pexco.
“After only several weeks, the EzFill portfolio of business in the Tampa Bay area includes servicing over 160 commercial vehicles that will utilize approximately 600,000 gallons of fuel per year … and we’re continuing to grow.” continued Dery.
“Smart, consistent and strategic growth are the paramount guidelines for expansion for the EzFill team.” asserted Michael McConnell, CEO of EzFill Holdings. “Tampa is a perfect example and is proving to be an excellent market for us. Jacksonville is projected to open by end of September. Further growth within Florida … and more importantly, outside the boundaries of the state, are front burner objectives for EzFill in the coming months.”
With the number of gas stations in the U.S. continuing to decline, corporate giants like Shell, Exxon, GM, Bridgestone, Enterprise, and Mitsubishi have recognized the increasing shift in consumer behavior and are investing in the fast growing on-demand mobile fueling industry. As the only company to provide fuel delivery in three vertical segments – consumer, commercial, and specialty including marinas – EzFill is well positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options. CONTINUED… Read the EzFill full press release by going to: https://ir.ezfl.com/news-events/press-releases
Additional recent developments in the markets this week include:
Spire Inc. (NYSE: SR) – To meet the growing energy demands in the Rockies and Western U.S., Spire Storage recently announced that is proceeding with the expansion of its facilities in Wyoming, with partial availability of additional natural gas storage capacity in fiscal 2024 and more in 2025.
“We’ve seen an increasing recognition of the value of natural gas storage over the last few years given the impact on energy security caused by Winter Storm Uri in 2021 and recent global events. Natural gas plays a key role in ensuring that security for the future,” said Scott Smith, president of Spire Storage. “Natural gas storage also helps to support and balance seasonal gas heating demand and the intermittent nature of renewable power generation, which is an increasingly important generation source in the Western U.S.”
NGL Energy Partners LP (NYSE: NGL) recently reported its first quarter Fiscal 2023 financial results. Highlights include: Net income for the first quarter of Fiscal 2023 of $23.1 million, compared to a net loss of $134.5 million for the first quarter of Fiscal 2022; Adjusted EBITDA for the first quarter of Fiscal 2023 of $123.9 million, compared to $91.1 million for the first quarter of Fiscal 2022; Record Water Solutions quarterly Adjusted EBITDA of $105.0 million, a 28.9% increase compared to the first quarter of Fiscal 2022 and a 16.4% increase from the immediately preceding fiscal quarter; Record produced water volumes processed of approximately 2.15 million barrels per day during the first quarter of Fiscal 2023, growing 29.2% from the same period in the prior year and 11.8% over the immediately preceding fiscal quarter; and Subsequent to the first quarter of Fiscal 2023, the Partnership placed the entire Ambassador Pipeline into propane service by connecting the southern leg from the Wheeler terminal into Marysville storage.
Murphy Oil Corporation (NYSE: MUR) recently announced its financial and operating results for the second quarter ended June 30, 2022, including net income attributable to Murphy of $351 million, or $2.23 net income per diluted share. Adjusted net income, which excludes discontinued operations and other one-off items, was $305 million, or $1.93 net income per diluted share.
“I am very pleased with our company’s accomplishments this quarter as the offshore team continues to successfully execute a significant and intricate project in the Gulf of Mexico, while our onshore team has enhanced production volumes and accelerated returns across our North American unconventional business through new completion designs and longer laterals. This outstanding execution has enabled us to capitalize on current high oil prices, as the additional production provides excess cash flow to support our delevering strategy while increasing our dividend. With our strong operational capabilities and meaningful debt reduction progress, we are now in a position to disclose a capital allocation framework that will highlight targeted returns to our shareholders through the dividend and share repurchases,” said Roger W. Jenkins, President and Chief Executive Officer.
Marathon Oil Corporation (NYSE: MRO) recently reported second quarter 2022 net income of $966 million, or $1.37 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $934 million, or $1.32 per diluted share. Net operating cash flow was $1,678 million, or $1,586 million before changes in working capital (adjusted CFO). Free cash flow was $1,323 million, or $1,213 million before changes in working capital and including E.G. distributions (adjusted free cash flow).
The Company: Generated record quarterly adjusted free cash flow of over $1.2 billion at 24% reinvestment rate; Continue to exceed commitment to return at least 40% of adjusted CFO to equity investors; and Expect $4.5 billion of 2022 free cash flow, assuming $100/bbl WTI and $6/MMBtu Henry Hub.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of the current press releases issued by EzFill Holdings, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: email@example.com – +1(561)325-8757
The post Mobile Fuel Delivery Market Gaining Ground as Fuel Prices Fall appeared first on Financial News Media.