Golar LNG (GLNG): FLNG Growth Opportunities- 1Q26
Updated equity research on Golar LNG after 1Q26 results, covering Argentina, FLNG growth opportunities, financing, valuation scenarios...
Excelerate Energy – 1Q26 Results – Iraq Delay, Acadia Redeployment & Growth Ahead
Excelerate Energy 1Q26 results analysis, covering Acadia FRSU Delay in Iraq, PetroBangla force majeure, Jamaica , updated DCF Valuation
Tullow Oil – Initial Equity Research
In-depth equity research on Tullow Oil $TLW.L 2026 refinancing, PIK debt structure, Jubilee production outlook, GNPC, Hedges DCF valuation..
Fortress Infrastructure $FIP – Long Ridge Sale
Analysis of Fortress Infrastructure’s $1.52Bn Long Ridge Energy sale to MARA Holdings. Review of transaction terms, RailCo preferred structure and updated sum-of-the-parts valuation for the remaining business.
Kistos Holdings – Oman Acquisition, Valuation and Investment Case
Updated equity research on Kistos Holdings $KIST., covering the Oman acquisition, Balder/Norway, legacy assets, bond structure, DCF valuation
Fortress Infrastructure $FIP : Record EBITDA, but Debt Still Controls the Equity Story as Long Ridge Becomes Critical
Fortress Infrastructure 4Q25 results analysis: record EBITDA, rising interest, cash flow pressure, Long Ridge remains central to equity story
New Fortress Energy operates floating LNG assets across the Caribbean and Latin America. Source: MORAM Capital.
New Fortress Energy – Restructuring Deep Dive
MORAM Capital breaks down New Fortress Energy UK Restructuring Plan: new capital structure, asset-by-asset EBITDA analysis, preferred equity dilution & valuation
Golar LNG – A Key LNG Winner from the Iran-Hormuz Shock
Updated Golar LNG equity research on the Hormuz shock: detailed analysis of Gimi, Hilli and Mark II, FLNG growth pipeline, valuation, ...
Excelerate Energy operates the world's largest FSRU fleet, with 10 units plus a newbuild and a planned conversion. Source: MORAM Capital.
Excelerate Energy – Updated Iran War
MORAM Capital updates its Excelerate Energy analysis following record FY25 results and break out of the Iran War (Updating $EE target price)
Venture Global
Initial Equity Research on Venture Global, a global LNG exporter. We analyze its asset base, contract structure and capital allocation to derive a normalized earnings profile and valuation.