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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Mattyice who wrote (77430)	4/15/2025 8:50:45 AM
From: E_K_S	1 Recommendation Recommended By roguedolphin Respond to of 78476

RE: Flex Lng Ltd (FLNG) On my DVN research I found out that DVN owns a large position in FLNG as well as has a long term contract supplying LNG. Devon Energy (DVN) has established a strategic LNG export partnership with Delfin Midstream, focusing on capital-efficient global market access. Key details include: LNG Export Facilities & Partners Delfin Midstream Partnership: Liquefaction Capacity: Devon secured a long-term tolling agreement for 1–2 million tonnes per annum (mtpa) of LNG capacity across Delfin’s floating LNG (FLNG) vessels 1 5 6. Equity Investment: Devon made a pre-FID (Financial Investment Decision) strategic investment in Delfin, with options for additional equity post-FID 1 6 7. Infrastructure: Delfin’s FLNG project leverages the UTOS pipeline (acquired by Delfin) and connects to Williams’ Transco pipeline in Louisiana for gas supply 7. Facility Details Project Status: Fully permitted, targeting 2026 startup for the first FLNG vessel 7. Capacity: Each FLNG vessel can produce ~1.0 mtpa, with Delfin’s Gulf Coast site supporting up to four vessels (13 mtpa total) 1 5. Market Access: The partnership enables Devon to diversify pricing by linking U.S. natural gas to global LNG markets, particularly in Asia and Europe 1 4 7. Additional Midstream Connections Williams (WMB): Gas flows via WMB’s Transco pipeline to Delfin’s interconnect in Cameron Parish, LA 7. Genesis Energy (GEL): Delfin leases capacity on GEL’s High Island Offshore System for pipeline infrastructure 7. This partnership reflects Devon’s strategy to enhance gas pricing power without significant capital expenditure, while aligning with midstream players for infrastructure support 7 8. Looking to also start a position in Flex Lng Ltd (FLNG) 9.5x PE and 13.42% div yield. Plan is to scale into DVN and FLNG maybe 4:1 and create a combined % portfolio at/below 1%. 2020 was the time to enter Oil/NG as it was a multi year low. I got lucky w/ OVV, KMI & WMB. All > 30% CAGR. Will be peeling off some of these positions to build my DVN/FLNG position.

To: Mattyice who wrote (77430)	4/15/2025 4:06:20 PM
From: E_K_S	Read Replies (1) \| Respond to of 78476

Look's like I was wrong about FLNG & DVN. FLNG is a common term used in the LNG transport business and not related to the company Flex Lng Ltd (FLNG). So DVN secures contracts w/ different parties that may include FLNG. FLNG has a lot of Debt and does not even cover their div. So my plan is to just build a position in DVN and avoid FLNG. I have had bad experience w/ these shippers years ago and continue to avoid them.