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CorEnergy updated its outlook for 2022 to the following, reflecting changes in the timing expectations around the return of Amplify offshore volumes to CorEnergy's systems and a softer volume outlook primarily due to the delayed court proceedings around drilling permits: Expected adjusted EBITDA of $42.0-$44.0 million, Maintenance capital expenditures expected to be in the range of $8.0 million to $9.0 million in 2022; quarterly maintenance costs are not expected to be uniform throughout the year due to project timing, Maintain $0.20/share annual run rate common dividend subject to Board approval on a quarterly basis.

Reports Q1 revenue $32.87M vs. $23.04M last year. "Our first quarter results demonstrate the benefit of our reorganized operations and reduced costs, leading to better dividend coverage. Looking to the rest of the year, we see a number of opportunities to positively impact transportation volumes, including the return of volumes on the Amplify pipeline and potential resolution of the permitting case in California," said Dave Schulte, Chief Executive Officer. "On the strategic front, we have spoken about our potential for engaging with project developers and have begun working on specific mandates to enable the transportation of CO2. We are pleased to announce that we signed our first non-binding memorandum of understanding to provide the transportation solution for a carbon sequestration project in California. We believe that carbon sequestration projects could enable us to maximize utilization of our pipeline assets and rights of ways."

ReportsFY22 revenue $32.8M vs. $5.9M last year. "In 2021 CorEnergy overcame the pandemic-related challenges of 2020 and we are now positioned for the future. We were able to transition our business model to a low-cost structure; owning and operating energy pipelines and storage assets. We optimized our capital structure for the benefit of our stockholders, internalized our REIT manager, and positioned our business for future growth. The benefits of these efforts were apparent in the third and fourth quarter run rate, as we established our new baseline in volumes and revenue that demonstrated our ability to fully cover our dividend expectations," said Dave Schulte, Chief Executive Officer. "We expect to continue to earn and pay our $0.20 annualized common dividend in 2022, with potential for modest long-term growth. We published our inaugural ESG report, confirming that we have always operated responsibly and are positioned to grow in the new energy transition marketplace as well as through incremental acquisitions."