HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL) (the “Trust”) today announced the net profits interest calculation for September 2020. The net profits interest calculation represents reported oil production for the month of June 2020 and reported natural gas production during May 2020. The calculation includes accrued costs incurred in July 2020.
This month, there was a slight rebound in the reported oil volumes, which partly reflects a return of previously deferred sales and shut-in production by some of the operators of the oil and gas properties underlying the Trust (the “Underlying Properties”). Excluding prior net profits interest shortfalls, income from the distributable net profits interest this month would have been approximately $0.4 million, or $0.013087 per unit. As a result of the cumulative outstanding net profits shortfall of approximately $2.8 million reported in the prior two months, however, no distribution will be paid to the Trust’s unitholders of record on September 30, 2020 in October 2020. Distributions to the Trust will resume once the cumulative net profits interest shortfall, which now totals approximately $2.4 million, is eliminated.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations. The amounts in the table have not been adjusted to reflect temporarily delayed sales and shut-in oil volumes discussed below.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
44,028 |
|
1,468 |
|
230,839 |
|
7,446 |
|
$ |
33.31 |
|
$ |
1.12 |
Prior Month |
|
42,572 |
|
1,373 |
|
230,867 |
|
7,696 |
|
$ |
17.25 |
|
$ |
1.13 |
Recorded oil cash receipts from the Underlying Properties totaled $1.5 million for the current month on realized wellhead prices of $33.31/Bbl, up $0.7 million from the prior month distribution period. Based on current data for the Underlying Properties, COERT Holdings 1 LLC (the “Sponsor”) indicates that production and cash receipts continue to normalize.
Recorded natural gas cash receipts from the Underlying Properties remained approximately the same at $0.3 million for the current month on realized wellhead prices of $1.12/Mcf.
Total accrued operating expenses for the period were $1.5 million, a $0.4 million decrease month-over-month from August 2020. Capital expenditures decreased $1.7 million from the prior month. This decrease is primarily due to an adjustment by Pioneer Natural Resources to the previously billed completion costs associated with the three Wolfcamp area wells drilled by Pioneer during early 2019.
The remaining cumulative shortfall in net profits for the prior months will be deducted from any net profits in next month’s net profits interest calculation. At this time based on current commodity prices, the Sponsor anticipates that the Underlying Properties will return to generating positive net profits later this year, as they did this month before deducting the cumulative shortfall.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, expected expenses, including capital expenditures, and expectations regarding the ability of the Underlying Properties to generate positive net profits later this year. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Continued low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2019 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 16, 2020, and the Trust’s Quarterly Report on Form 10-Q for the period ended June 30, 2020, filed with the SEC on August 7, 2020. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that its joint venture COOEC-Fluor Heavy Industries, Co., Ltd. (COOEC-Fluor) fabrication yard in Zhuhai, China, has been awarded a contract to fabricate jackets and suction caissons by Seaway 7, the Renewables business unit of Subsea 7, for phase one of the Seagreen offshore wind farm project (Seagreen 1) located in the North Sea off the coast of Scotland.
“Fluor is committed to building a better world by providing renewable energy solutions to meet our clients’ needs,” said Mark Fields, president of Fluor’s energy and chemicals business. “Through our joint venture COOEC-Fluor fabrication yard – one of the world’s largest – we will demonstrate Fluor’s commitment to sustainable development by working with Seaway 7 to successfully deliver the jackets and suction caissons for Scotland’s largest wind farm.”
COOEC-Fluor’s scope of work for Seagreen 1 includes the fabrication and load-out of suction caisson jackets.
When complete, Seagreen will generate up to 1,075 megawatts – enough to supply electricity for approximately 1 million homes.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents. Fluor’s 47,000 employees build a better world by designing, constructing and maintaining safe, well-executed, capital-efficient projects. Fluor is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE:KSU) will release its third quarter 2020 financial results on Friday, October 16, 2020, before the opening of trading on the New York Stock Exchange.
KCS will also hold its third quarter 2020 earnings conference call on Friday, October 16, 2020 at 8:45 a.m. eastern time. Shareholders and other interested parties are invited to participate via live webcast or telephone. To participate in the live webcast and to view accompanying presentation materials, please log into investors.kcsouthern.com immediately prior to the presentation. To join the teleconference, please call (844) 308-6428 from the U.S., or (412) 317-5409 from all other countries.
A replay of the presentation will be available by calling (877) 344-7529 from the U.S., (855) 669-9658 from Canada or (412) 317-0088 from all other countries and entering conference ID 10147562. The webcast replay and presentation materials will be archived on the company’s website.
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
KCS: Ashley Thorne, 816-983-1530, This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--#FrackingWaterTreatmentMarket--This report provides comprehensive insights into the fracking water treatment market by application (treatment and recycle and deep well injection), geography (APAC, Europe, MEA, North America, and South America), market valuations and forecasts, and the competitive landscape globally.
The research is classified into seven sections – fracking water treatment market landscape, market sizing, five force analysis, customer landscape, geographic landscape, drivers, challenges, and trends, and vendor landscape and analysis.
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today that there will be no distribution paid for the month ended September 2020 to holders of record as of the close of business on September 30, 2020, as costs, charges and expenses attributable to the Trust’s royalty properties exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by the volatility in commodity prices. Recently, there has been a substantial decrease in oil and natural gas prices due in part to significantly decreased demand as a result of the COVID-19 pandemic and an oversupply of crude oil. Oil and natural gas prices could remain low for an extended period of time, which in turn could have a material adverse effect on Trust distributions. Continued low oil and natural gas prices, among other things, will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust’s Form 10-K for the year ended December 31, 2019 under “Part I, Item 1A. Risk Factors,” the Trust’s Form 10-Q for the quarter ended March 31, 2020 under “Part II, Item 1A. Risk Factors” and the Trust’s Form 10-Q for the quarter ended June 30, 2020 under “Part II, Item 1A. Risk Factors.” Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.investorhq.businesswire.com/
LONDON--(BUSINESS WIRE)--#GlobalMethanolMarket--Technavio has been monitoring the methanol market and it is poised to grow by $ 15.62 bn during 2020-2024, progressing at a CAGR of over 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BASF SE, BP Plc, Celanese Corp., ENERKEM Inc., Eni Spa, LyondellBasell Industries NV, Methanex Corp., OCI NV, Petroliam Nasional Berhad, and Proman AG are some of the major market participants. The increasing adoption of MTO technology will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Methanol Market 2020-2024: Segmentation
Methanol Market is segmented as below:
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Methanol Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The methanol market report covers the following areas:
This study identifies the rising demand for methanol from China as one of the prime reasons driving the methanol market growth during the next few years.
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Methanol Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Derivative Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
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LONDON--(BUSINESS WIRE)--#GlobalOffshoreSupplyVesselMarket--Technavio has been monitoring the global offshore supply vessel market size and it is poised to grow by USD 4.77 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A.P. Moller - Maersk AS, Bass Marine Pty Ltd., BOURBON Corp., Edison Chouest Offshore Co., Harvey Gulf International Marine LLC, Hornbeck Offshore Services Inc., Island Offshore Management AS, SEACOR Marine Holdings Inc., Swire Pacific Ltd., and Tidewater Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The increasing number of global offshore oil and gas drills has been instrumental in driving the growth of the market. However, the rise in operational costs might hamper the market growth.
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Offshore Supply Vessel Market 2020-2024: Segmentation
Offshore Supply Vessel Market is segmented as below:
Offshore Supply Vessel Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The offshore supply vessel market report covers the following areas:
This study identifies the increasing demand for high-capacity and LNG-fueled OSVs as one of the prime reasons driving the Offshore Supply Vessel Market growth during the next few years.
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Offshore Supply Vessel Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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DUBLIN--(BUSINESS WIRE)--The "North America Fracking Chemicals Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The North America fracking chemicals market is expected to grow at a CAGR of approximately 8.77% during the forecast period
Factors such as high active rig count, longer lateral lengths, increased number of frac stages per well, and the amount of fracking fluid used per frac stage are expected to drive the market. Moreover, the market is expected to be driven by the completion of a large number of uncompleted wells in the United States. However, volatile crude oil prices and the environmental risks associated with hydraulic fracturing are restraining the hydraulic fracturing services market and, in turn, the fracking chemicals market in North America.
Key Market Trends
Water-Based Fluid Segment to Dominate the Market
United States to Dominate the Market
Competitive Landscape
The North America fracking chemicals market is moderately fragmented. Some of the key players are Halliburton Company, BASF SE, The Dow Chemical Company, CES Energy Solutions Corp, and Solvay SA.
Key Topics Covered:
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast, in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fluid Type
5.1.1 Water-Based
5.1.2 Foam-Based
5.1.3 Others
5.2 Well Type
5.2.1 Vertical
5.2.2 Horizontal & Directional
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 The Dow Chemical Company
6.3.2 Parchem Fine & Specialty Chemicals Inc.
6.3.3 Halliburton Company
6.3.4 Solvay SA
6.3.5 SNF Group
6.3.6 DuPont de Nemours, Inc.
6.3.7 BASF SE
6.3.8 Flotek Industries Inc.
6.3.9 CES Energy Solutions Corp.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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LONDON--(BUSINESS WIRE)--#BlowoutPreventerMarket--The global blowout preventer market to register an incremental growth of USD 492.19 million, witnessing a CAGR of almost 2% during 2020-2024, according to the latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the blowout preventer market in optimistic, probable, and pessimistic forecast scenarios.
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Amid the COVID-19 Crisis, the Revaluated and Updated Blowout Preventer Market Report Says:
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Blowout Preventer Market Segmentation and Competitive Analysis
Blowout preventer market is segmented by type (annular blowout preventer and ram blowout preventer), location (onshore and offshore), and geography (North America, Europe, MEA, APAC, and South America). The rise in unconventional oil and gas resources has been an instrumental factor in influencing the growth of the blowout preventer market. Other market drivers include a rising number of deep and ultra-deepwater drilling projects and environmental norms and increased safety concerns.
The market is fragmented. The report analyzes the market’s competitive landscape and offers information on several market vendors, including AXON Pressure Products Inc., Control Flow Inc., General Electric Co., National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc, UZTEL SA, Weatherford International Plc, Worldwide Oilfield Machine, and Yantai Jereh Oilfield Services Group Co. Ltd. Moreover, Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
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LONDON--(BUSINESS WIRE)--#GlobalWindTurbineGeneratorMarket--The global wind turbine generator market is expected to grow by USD 7.22 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%.
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The market is driven by the rise in wind energy consumption. In addition, R&D in direct-drive generators for wind turbines is anticipated to boost the growth of the wind turbine generator market.
The depletion of conventional sources of energy and rising GHG emissions are fueling the adoption of renewable energy sources across the world. Wind energy is one of the most abundant and efficient source of power generation compared to other renewable energy sources. In 2018, China added a wind capacity of 23,000 MW. Similarly, countries such as Denmark, Spain, Germany, and the UK produce more than 10% of their power from wind energy. The growing use of wind energy worldwide is increasing the demand for wind turbine generators, thereby driving the growth of the market.
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Major Five Wind Turbine Generator Companies:
ABB Ltd.
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers generators for all drivetrain concepts such as gearless or geared, and also for both doubly-fed and full converter type and all power and voltage levels up to 20 MW and 15 kV.
Alxion
Alxion operates its business through a unified segment. The company offers AC frameless permanent magnet generators which include 6 sizes from 145 mm up to 800 mm available in four different lengths per size and two standard rated speeds.
AVANTIS Energy Group
AVANTIS Energy Group operates its business through a unified segment. The company offers water-cooled permanent magnet synchronous generator with 690 V and 120 poles per phase (3 phases) to operate at low revolution speeds.
Bora Energy
Bora Energy operates its business through a unified segment. The company develops a series of wind turbine generators specifically made for remote, industrial, and community wind, simulating large wind farm turbines features.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Aviation, and Healthcare. The company offers medium and large generators (3.2-3.8 MW at 50 or 60 Hz).
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Wind Turbine Generator Market Application Outlook (Revenue, USD Billion, 2020-2024)
Wind Turbine Generator Market Geography Outlook (Revenue, USD Billion, 2020-2024)
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
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Global Wind Turbine Bearing Market – Global wind turbine bearing market by product (GBMB and BBYBGB), application (offshore and onshore), and geography (APAC, Europe, North America, South America, and MEA).
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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DUBLIN--(BUSINESS WIRE)--The "Specialty Fuel Additives - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 8th edition of this report. The 191-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Specialty Fuel Additives Market to Reach $11.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Specialty Fuel Additives estimated at US$7.9 Billion in the year 2020, is projected to reach a revised size of US$11.6 Billion by 2027, growing at a CAGR of 5.7% over the analysis period 2020-2027.
Deposit Control Additives, one of the segments analyzed in the report, is projected to record a 6.5% CAGR and reach US$5.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cetane Improvers segment is readjusted to a revised 5.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 5.3% CAGR
The Specialty Fuel Additives market in the U.S. is estimated at US$2.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 5.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.
Antioxidants Segment to Record 4.1% CAGR
In the global Antioxidants segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$414.9 Million in the year 2020 will reach a projected size of US$550.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2027.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/a2r0df
ResearchAndMarkets.com
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Next phase of project feasibility study to commence, will develop facility design to support capture, use and storage of 2 million tonnes of carbon dioxide annually
CHICAGO & HOUSTON & PARIS & VANCOUVER, British Columbia--(BUSINESS WIRE)--On September 1, the United States Department of Energy’s National Energy Technology Laboratory (DOE-NETL) awarded $1.5 million in federal funding for cost-shared research and development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado Project, which was the subject of a scoping study launched earlier this year. The commercial-scale carbon-capture project, based in Florence, Colorado, is a partnership of Svante Inc., LafargeHolcim, Oxy Low Carbon Ventures, LLC (OLCV), a wholly-owned subsidiary of Occidental, and Total.
With the successful completion of the initial scoping study in June 2020 and confirmation of DOE funding, the partnership has committed to the next project phase to evaluate the feasibility of the facility designed to capture up to 2 million tonnes of carbon dioxide per year directly from the Holcim cement plant and the natural gas-fired steam generator, which would be sequestered underground permanently by Occidental.
“Oxy Low Carbon Ventures is leveraging Occidental’s 40 years of experience in securely storing CO2 in geologic formations to advance permanent sequestration as a solution that supports global emissions reduction efforts through carbon retirement,” said Oxy Low Carbon Ventures President Richard Jackson. “This partnership is a powerful example of how cross-industry collaboration can help progress carbon capture, utilization and storage projects that will be critical to accelerating the transition to a lower-carbon world.”
The carbon-capture facility under review will employ Svante’s solid sorbent technology to capture carbon directly from the cement kiln as a non-intrusive “end-of-the-pipe’’ solution.
“We have been very vocal about the importance we place on finding and accelerating global solutions to reduce our carbon footprint,” said Jamie Gentoso, CEO, U.S. Cement for LafargeHolcim. “Effective and efficient large scale carbon capture technology will be a profound advancement for many industries. This U.S. DOE grant is a significant step in advancing this first-of-its-kind, large-scale technology, and we’re proud to partner with Svante, Oxy Low Carbon Ventures and Total to bring it to life.”
“This project along with the U.S. DOE funding is an important external validation that we are becoming a significant global technology provider in carbon capture space across a range of large-scale industrial applications like cement and blue hydrogen,” said Claude Letourneau, president and CEO of Svante Inc.
“Total brings its experience in this new phase of feasibility to support the development of Svante’s promising CO2 capture technology. Together with our industrial partners and thanks to public-private initiative, we aim at accelerating the deployment, at scale, of innovative and cost-efficient technologies, contributing to decarbonize industry and curb CO2 emissions,” said Marie-Noëlle Semeria, senior vice president, Group CTO at Total.
Electricore, Inc. will facilitate management of the federal grant, and Kiewit Engineering Group Inc. will lead the engineering development. This joint initiative follows the recently-launched Pilot Plant Project CO2MENT between Svante, LafargeHolcim and Total in Canada at the Lafarge Richmond cement plant, where progress has been made towards re-injecting captured CO2 into concrete.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major. www.total.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental an international energy company with operations in the United States, Middle East, Africa and Latin America. OLCV is advancing cutting-edge, low-carbon technologies and business solutions that economically and sustainably grow our business while reducing emissions. OLCV is also progressing the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally.
Cautionary Statement Regarding Forward-Looking Statements by Occidental
Any statements in this release relating to expectations, beliefs, plans or forecasts, including any statements relating to the success, capability or scalability of the project, that are not historical facts are forward-looking statements. These statements are typically identified by words such as “potential,” “will,” “would,” “should,” “may,” “plan,” “believe,” “expect,” “designed to,” or similar expressions that convey the prospective nature of events or outcomes. Actual results, including those related to project plans and timing and the impact and results of new technologies, including emission reductions, could vary from anticipated results. Factors that could cause actual results to differ include, but are not limited to: the scope and duration of the COVID-19 pandemic and actions taken by governmental authorities and other third parties in response to the pandemic; global commodity pricing fluctuations; supply and demand considerations for carbon capture and sequestration technologies; the competitiveness of alternative energy sources or product substitutes; higher-than-expected costs; the regulatory environment; availability of funding, personnel and materials; litigation; actions by third parties; failures in risk management; and changes in laws, regulations or tax rates. Material risks that may affect the results of Occidental and its subsidiaries appear in Part I, Item 1A “Risk Factors” of Occidental’s Annual Report on Form 10-K for the year ended December 31, 2019 and in Occidental’s other filings with the Securities and Exchange Commission.
About LafargeHolcim
LafargeHolcim is the global leader in building materials and solutions and active in four business segments: Cement, Aggregates, Ready-Mix Concrete and Solutions & Products. Its ambition is to lead the industry in reducing carbon emissions and shifting towards low-carbon construction. With the strongest R&D organization in the industry, the company seeks to constantly introduce and promote high-quality and sustainable building materials and solutions to its customers worldwide - whether individual homebuilders or developers of major infrastructure projects. In the United States, LafargeHolcim companies include close to 350 sites in 43 states and employ 7,000 people. Our customers rely on us to help them design and build better communities with innovative solutions that deliver structural integrity and eco-efficiency.
About Svante
Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu; CEO of OGCI Climate Investments Pratima Rangarajan; and Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website. You can also connect with us on LinkedIn or Twitter @svantesolutions.
Svante
Julia McKenna (Media)
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LafargeHolcim
Jocelyn Gerst
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Oxy Low Carbon Ventures
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Total
Media Relations:
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NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX), through funds managed by GSO Capital Partners LP (“GSO”), announced today the formation of a new portfolio company, ClearGen LLC (“ClearGen”) that will finance and own distributed and sustainable energy infrastructure assets (“Distributed Infrastructure”) focused on commercial, industrial and institutional customers. GSO will initially commit $250 million to fund ClearGen and expects to expand the commitment as capital is deployed. ClearGen will be managed by industry veterans with a combined 55 years of experience, George Plattenburg, Co-Founder and Chief Executive Officer, and Collin Franceschi, Co-Founder and Chief Development Officer.
ClearGen and Blackstone will offer flexible capital solutions and programmatic investments alongside equipment manufacturers, developers and energy service companies who develop, build, and operate Distributed Infrastructure. Through these partnerships, ClearGen will invest in a wide range of assets including microgrids, distributed generation, renewable energy combined with battery storage, energy efficiency investments, green transportation, and combined heat and power plants. These assets will serve various sectors, including technology, telecommunications, healthcare, real estate, industrials, and other commercial and industrial energy consumers.
The market for on-site renewable projects is growing rapidly as energy consumers are faced with rising energy costs, service outages caused by extreme weather and natural disasters, and a desire to improve the sustainability of their operations. ClearGen’s investments deliver significant environmental benefits, cost savings, and enhanced energy resiliency to its customers by allowing them to improve or develop mission-critical on-site energy infrastructure. ClearGen will offer turnkey offerings and energy as a service to customers without requiring them to use their own capital.
“Energy consumers face a range of challenges, including cost and risk management and the reliability of supply that affects critical operations. When you combine these with a broad focus on de-carbonization, there is a rapidly growing need for ClearGen’s capital and expertise,” said George Plattenburg. “We are looking forward to partnerships with distributed generation developers and technology companies, and collaboratively developing flexible solutions to improve financing alternatives and increase adoption. ClearGen will finance a wide range of revenue streams and diverse customers to allow our partners to accelerate growth,” said Collin Franceschi.
“We are excited to partner with ClearGen and expand Blackstone’s investments in distributed and sustainable energy infrastructure. We look forward to working with ClearGen and its industry leading partners to meet the significant growth in behind-the-meter energy systems in North America,” said Robert Horn, Senior Managing Director at Blackstone and Co-Head of GSO’s Energy Group. “Our initial investment will position ClearGen to offer the full range of low-cost, flexible capital through credit and insurance businesses that allows Blackstone to be a one-stop shop for infrastructure capital needs,” said Rob Camacho, Senior Managing Director at Blackstone and Co-Head of GSO's Structured Products group.
About ClearGen
ClearGen is empowering the transition to a more sustainable energy future. In partnership with Blackstone, ClearGen works with partners to deliver efficient and reliable energy infrastructure to consumers. Our consultative approach is focused on reducing development risk by streamlining the structuring and financing process to facilitate successful project development. By combining smart and flexible financing with unmatched industry expertise, ClearGen will lead the way to a new era of energy outcomes. At ClearGen, we bring capital to projects that deliver results and make the world a cleaner place. Visit www.clear-gen.com to learn more.
About GSO Capital Partners
GSO Capital Partners LP is the global credit investment platform of Blackstone. Our credit segment, which consists principally of GSO, has approximately $138 billion of assets under management as of June 30, 2020. GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies.
Kate Holderness
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917 318 6818
HAMILTON, Bermuda--(BUSINESS WIRE)--Hygo Energy Transition Ltd. (NASDAQ: HYGO) (“Hygo”) announced today that it has launched an initial public offering of 23,100,000 common shares (“common shares”) at an anticipated initial offering price between $18.00 and $21.00 per share pursuant to a registration statement on Form F-1 previously filed with the Securities and Exchange Commission (the “SEC”). In addition, Hygo intends to grant the underwriters a 30-day option to purchase up to an additional 3,465,000 common shares. Hygo has applied to list the common shares on the Nasdaq Global Select Marketplace under the ticker symbol “HYGO.”
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. A copy of the preliminary prospectus may be obtained from:
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street, Second Floor
New York, New York 10014
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Goldman Sachs & Co.
Attention: Prospectus Department
200 West Street
New York, NY 10282
Telephone: (866) 471-2526
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About Hygo Energy Transition Ltd.
Hygo provides integrated downstream LNG solutions to underserved markets by delivering low cost, environmentally sound energy alternatives to consumers around the world. Hygo’s business includes (i) its network of existing and development stage marine LNG import terminals, (ii) its ownership of interests in existing and development stage large-scale power plants backed by high quality offtakers, and (iii) the downstream distribution of LNG from its terminals via marine and onshore logistics to major demand centers.
Important Information
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Hygo Energy Transition Ltd.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the initial public offering, represent Hygo’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Hygo’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Hygo does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Hygo to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Hygo’s initial public offering. The risk factors and other factors noted in Hygo’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.
Eduardo Maranhão
+44 020 7499 1600
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Erik Stavseth
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Finalists and nominees reimagine regional landscapes and economic vitality with an emphasis on pioneering rail transportation
WASHINGTON--(BUSINESS WIRE)--CG/LA, the global leader in infrastructure strategy and project development announced the winners of the 2020 Infrastructure Project of the Year Awards at the 13th Global Infrastructure Leadership Virtual Forum.
The Project of the Year Awards are one of the highlights of every Leadership Forum event. Announced on September 17th, the awards recognize the projects - and the leaders behind the projects - identified as global models. The projects are highlighted for their outstanding commitment across five categories: Job Creation, Sustainability/Green Infrastructure, Finance/Funding, Engineering, and Strategic. This year’s winners are:
ABOUT THE 13TH GLOBAL INFRASTRUCTURE LEADERSHIP FORUM
Convening leaders in transportation, finance, policy, engineering, technology, construction, energy, law, and hydroelectricity from more than 20 countries across both private and public sectors, the annual Global Infrastructure Leadership Forum highlights leading-edge strategies that propel the advancement of our built environment around the world. For more information, click here.
ABOUT CG/LA INFRASTRUCTURE
For three decades CG/LA Infrastructure has served as the foremost thought leader on global infrastructure investment and strategic project development. Headquartered in Washington, DC, CG/LA works with leading infrastructure executives, project owners, policymakers, investors, innovators, design practitioners, and risk specialists from over 30 countries across the public and private spectrum. The firm's globally-recognized Leadership Forum series highlights leading-edge strategies and compelling infrastructure projects accelerating global mobility, sustainability, and overall social impact. See more on CG/LA here.
MEDIA CONTACT
Brent Harrison
CG/LA Infrastructure
Deputy Director of Projects
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Avista, McKinstry, Katerra and Eastern Washington University demonstrate the potential for positive, sustainable solutions when industry leaders work together
SPOKANE, Wash.--(BUSINESS WIRE)--The five-story, 159,000-square-foot Catalyst building opened its doors today, marking the culmination of a collaborative effort of diverse industry partners to create a transformative, real-world prototype for sustainable development. Anchoring the new South Landing Eco-District neighborhood in Spokane, the Catalyst building and the adjacent Scott Morris Center for Energy Innovation demonstrate new building techniques, materials and a sustainable shared energy model that is central to the goal of making Catalyst one of the largest zero energy buildings in North America and one of the first zero carbon buildings to be certified by the International Living Future Institute.
Catalyst is the result of a unique collaboration between a cross-industry team of partners including Avista, McKinstry, Katerra and Eastern Washington University (EWU). The South Landing neighborhood started with a bold vision when Avista’s then-CEO and current chairman Scott Morris conceived and set out to create “the five smartest blocks in the world.” Morris’s idea was to create a real-world model for sustainable, efficient and forward-looking development in which smart buildings are deeply integrated with the grid and talk to each other to better manage demand, while leveraging on-site renewable energy generation and storage during peak loads.
“This is an important milestone to celebrate. With the foundation for the five smartest blocks in the world now in place, Catalyst and the South Landing Eco-District prove what is possible when industry leaders work together to think big and test bold ideas,” said Scott Morris, Chairman of Avista. “What we have created is so transformative and innovative, it will serve as a new model for collaboration across industries. Together, we are reimagining the future of energy and sustainable development. What we learn will support a reliable, affordable, and clean energy future for all of us.”
“Catalyst and the South Landing Eco-District are more than just another smart building project, they are the cornerstones of a fully integrated neighborhood that will serve as a living laboratory for new sustainability technologies, materials, construction techniques and operational practices,” said Dean Allen, CEO of national construction and energy services firm McKinstry. “Catalyst demonstrates how the built environment can be constructed and operated for our partners, our clients, our communities and our planet to deliver sustainability and impact, not just physical space.”
The Catalyst building employs innovative, integrated systems for on-site renewable energy generation using photovoltaic arrays, heating, lighting, and exhaust heat and gray water recovery, as well as Internet of Things (IoT) sensors to optimize operation.
Catalyst’s design, by Michael Green Architecture, uses roughly 4,000 cubic meters of locally sourced mass timber products produced by Katerra as both structural and design elements, enabling Catalyst to achieve near-passive house levels of thermal performance. Incorporating mass timber into Catalyst also reduced the need for steel and concrete, helping to collectively offset approximately 5,000 metric tons of carbon, equating to 1,100 cars off the road for a year.
“Katerra’s team is so grateful to have partnered with Avista and McKinstry on this landmark project,” said Craig Curtis, Katerra’s Chief Architect Building Platforms Architecture. “Our hope is that Catalyst will spark a new generation of similar high-performance, low-carbon buildings. We believe mass timber is much more than a structural building material, it is an opportunity to guide building design and construction towards a future of sustainable building on an entirely new scale.”
“This project is really special for MGA because it brings together a lot of the thought and ambition we have around how we can start to change both the environmental performance and the affordability of buildings,” said Michael Green, Principal of Michael Green Architecture. “It is the beginning of what we think will be the transformation of the construction industry, moving away from the more carbon intensive materials like concrete and steel, and towards mass timber as the best choice when making a carbon neutral building.”
Catalyst and the recently opened Morris Center were designed in tandem to test the innovative new shared energy eco-district model. The main idea of the eco-district is to have buildings that work together to actively manage energy loads and balance on-site energy demand, generation and storage in real-time to reduce the impact on the grid. A centralized heating, cooling and electrical system reliably, sustainably and affordably serves the energy needs of current and future buildings in the South Landing development. In addition to heat pumps, boilers and chillers, the Morris Center houses thermal and electrical storage, as well as onsite renewable energy generation that can be stored and shared. South Landing and Catalyst show how utilities can partner with property owners to operate their buildings in a manner that better utilizes the existing grid and could lead to a more affordable, clean energy future.
Eastern Washington University is the anchor tenant for Catalyst, with its College of Science, Technology, Engineering and Mathematics (CSTEM) re-locating its electrical engineering, computer science and design programs to the new building. CSTEM is also creating a new program, computer engineering, which will be housed there as well. Additionally, EWU’s College of Business, several programs from the College of Health Science and Public Health, and EWU’s Creative Writing MFA program will also be based in Catalyst.
This will allow more than EWU 1,000 students and faculty to work alongside private industry tenants who will provide hands-on, practical, and multi-disciplinary experiential learning opportunities.
“We are so grateful for this unique partnership with Avista, McKinstry and Katerra,” said EWU interim President David May. “Eastern is proud to be a leader in this inspiring expansion of Spokane’s University District. The Catalyst creates tremendous learning and employment opportunities for our students, as academia and groundbreaking companies will unite to spark innovation.”
Catalyst and the South Landing project will be unveiled in a virtual grand opening event at 1 p.m. PDT (4 p.m. EDT) today, featuring short presentations by representatives of the project partners and a video walk-through of the Catalyst building and the Morris Center. There will also be an online media availability immediately following the grand opening event. More information and the embedded livestream of the event can be found here: http://www.catalystspokane.com/south-landing/.
About Avista Development
Avista Development, a non-utility subsidiary of Avista Corp., seeks to invest in local real estate, businesses and other assets that strategically leverage the strengths of local and regional partnerships, enhance the economic vitality of Avista’s utility service areas, and further Avista’s commitment to deliver shared value to those we serve.
About McKinstry
McKinstry is a national full-service, design-build-operate-and-maintain (DBOM) firm specializing in consulting, construction, energy and facility services. The firm’s innovative, integrated delivery methodology provides clients with a single point of accountability that drives waste and redundancy out of the design/build process. McKinstry advocates collaborative, sustainable solutions designed to ensure occupant comfort, improve systems efficiency, reduce facility operational costs, and optimize profitability “For The Life of Your Building.”
About Katerra
Katerra is a technology company optimizing every aspect of building development, design, and construction. With leaders from the most groundbreaking technology, design, manufacturing and construction companies, Katerra transforms how buildings and spaces come to life. Founded in 2015, Katerra has a growing number of domestic and international offices, factories and building projects. For more information, visit www.katerra.com.
MGA | Michael Green Architecture
MGA | Michael Green Architecture is one of the most internationally recognized architecture firms in Canada. Beyond the four Governor General’s Medals for Architecture and the two Royal Architectural Institute of Canada Awards for Architectural Innovation, they are recognized for innovation in sustainable architecture and developing carbon-neutral buildings with advanced wood construction. The firm was founded in 2012 by Michael Green, who is known for his research, leadership, and expertise in building with timber products. In fact, he literally wrote the book on the subject, authoring The Case For Tall Wood Buildings, and popularizing the phrase ‘mass timber.’ From their head office in Kitsilano, they work on projects from tiny boutique interiors to large institutional buildings and airport complexes, locally and internationally. The studio houses architecture, interior design, graphic design, landscape, and model making staff.
About Eastern Washington University
EWU is a regional, comprehensive public university, located in Cheney, just 16 miles from Spokane. Founded in 1882, Eastern has evolved to meet the demands of an ever-changing workforce and become a driving force in the culture, economy and vitality of the Inland Northwest. In addition to its main campus, EWU has always had a strong presence in the thriving University District, allowing the university to solidify important academic and community partnerships in the region. Learn more at www.ewu.edu.
Steve Smith
425.753.1653
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HOUSTON--(BUSINESS WIRE)--BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today reported that it will not declare a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) due to prior excess production costs from the April 2020 production month. Excess production costs occur when production costs and capital expenditures exceed the gross proceeds for a certain period.
For the production month of July 2020, the operator of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”), reported to the Trust profits of $762,715 gross ($572,036 net to the Trust), which reduced, but did not eliminate, the previously reported excess production costs of $854,718 gross ($641,038 net to the Trust). Hilcorp will charge the remaining excess production costs of $92,003 gross ($69,003 net to the Trust) to the next month’s distribution.
Cash reserves will be utilized to pay Trust administrative expenses of $87,207 for the month. No cash distributions will be distributed by the Trust until future net proceeds are sufficient to pay then-current Trust liabilities and replenish cash reserves.
Based upon information provided to the Trust by Hilcorp, gas production for the subject interests totaled 2,031,263 Mcf (2,256,959 MMBtu) for July 2020, as compared to 2,005,697 Mcf (2,228,552 MMBtu) for June 2020. Dividing revenues by production volume yielded an average gas price for July 2020 of $1.26 per Mcf ($1.14 per MMBtu), as compared to an average gas price for June 2020 of $1.09 per Mcf ($0.98 per MMBtu).
Hilcorp has advised the Trust that the July 2020 reporting month included additional profits of $135,411 gross ($101,558 net to the Trust) based on true-ups for the March 2018, January 2019, and February 2020 production months. The July 2020 reporting month also includes a reimbursement by the Trust to Hilcorp of $0.2 million, being a portion of the total $2.0 million in “Other” revenue that was included in the estimated gross proceeds in the December 2017 and January 2018 distribution months.
Hilcorp also reported that for the reporting month of July 2020, revenue included an estimated $100,000 for non-operated revenue. For the month ended July 2020, Hilcorp reported to the Trust capital costs of $11,207, lease operating expenses and property taxes of $1,673,125, and severance taxes of $383,808.
Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.
San Juan Basin Royalty Trust
BBVA USA, Trustee
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Joshua R. Peterson, Head of Trust Real Assets & Mineral Resources
and Senior Vice President
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
Collaboration to focus on DOE-NETL funded projects in USA
VANCOUVER, British Columbia & LENEXA, Kan.--(BUSINESS WIRE)--#carboncapture--Svante Inc. has selected Kiewit Engineering Group Inc. to provide engineering, procurement and construction (EPC) services for two DOE funded carbon capture projects. On September 1, the United States Department of Energy’s National Energy Laboratory Technology (DOE-NETL) awarded $1,500,000 in federal funding for cost-shared development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado first-of-a-kind commercial project of up to 2 million tonnes per year of CO2; and $13,000,000 in federal funding for the cost-shared development to support the design, construction and operation of a second-of-a-kind engineering-scale carbon capture plant at Chevron’s Kern River oil field in the San Joaquin Valley, California.
The carbon-capture facilities will employ Svante’s solid sorbent technology to capture carbon directly from industrial post-combustion flue gases as a non-intrusive ‘’end-of-the-pipe’’ solution to produce pipeline-grade CO2 for safe storage.
Svante’s technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO2MENT Pilot Plant Project – a partnership between LafargeHolcim and TOTAL S.A. – is building a 1 tonne per day plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 tonne per day demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. The demonstration plant is currently operating with an up-stream factor of about 85% and achieving the design performance.
‘’We are very proud to become the engineering and construction partner of Svante for the deployment of this novel technology leveraging our expertise in building carbon capture plants. New technologies have the greatest probability of success when deployed with an integrated project delivery approach by organizations skilled at driving cost and schedule certainty.’’ said Jon P. Gribble, EVP Services, Kiewit Engineering Group Inc.
“With the development of new sustainable investment strategies, in combination with government policies such as the United States’ 45Q tax credit to incentivize industry and traditional project financing, the financial sector is poised to support industrial scale carbon capture that will have a meaningful impact on the climate change,” said Claude Letourneau, President and CEO of Svante. “These projects along with the US DOE-NETL funding are an important external validation that we are becoming a significant global technology provider in the carbon capture space across a range of large-scale industrial applications like cement and blue hydrogen”.
About Svante
Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu; CEO of OGCI Climate Investments Pratima Rangarajan; and Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website. You can also connect with us on LinkedIn or Twitter @svantesolutions.
About Kiewit
Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada, and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; and mining. Kiewit had 2019 revenues of $10.3 billion and employs 23,000 staff and craft employees. For more information on Kiewit’s projects and carbon capture capabilities, click here or visit our website.
Svante
Julia McKenna (Media)
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Kiewit
Angela Nemeth (Media)
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+1 402-952-4627
AKRON, Ohio--(BUSINESS WIRE)--$BW--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will design, manufacture and supply new superheater components for a B&W Universal Pressure supercritical (highly efficient) boiler at Luminant’s Oak Grove Power Plant near Franklin, Texas. The plant provides low-emissions power to more than one million central Texas homes and businesses.
Engineering is underway for the contract, which was awarded to B&W’s subsidiary, The Babcock & Wilcox Company. Components will be manufactured in B&W’s Monterrey, Mexico, facility.
“B&W Thermal serves an essential role in maintaining the global power plant fleet,” said B&W Chief Operating Officer Jimmy Morgan. “Now more than ever, it’s important that plants continue to operate efficiently, and we’re proud to supply reliable, cost-effective technologies to help customers across a wide range of industries meet emission standards. We thank Luminant for the opportunity to supply components for this important boiler maintenance project.”
Material delivery to Oak Grove is scheduled for February 2021.
B&W Universal Pressure boilers are designed to operate at highly efficient steam outlet temperatures of approximately 1100° F and at supercritical pressures, producing power with lower overall emissions than subcritical pressure boilers.
About B&W
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc., is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.
About B&W Thermal
Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. B&W has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to design, manufacture and supply new superheater components for a B&W Universal Pressure supercritical boiler at Luminant’s Oak Grove Power Plant near Franklin, Texas. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investors:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Ryan Cornell
Public Relations
Babcock & Wilcox
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DUBLIN--(BUSINESS WIRE)--The "Leadership Quadrant of Fuel Additive Suppliers - 2019" report has been added to ResearchAndMarkets.com's offering.
The fuel additive manufacture landscape is diverse and continually evolving. Major players in fuel additive market have diversified product portfolios, strong geographical reach, and have made several strategic initiatives. The dynamics of the fuel additive market extends beyond routine macro-economic elements of supply and demand. It is the relationship between buyer's needs and seller's capabilities as well as the macroeconomic forces at work that affect the market. It is how well and how efficiently the sellers meet the needs of the buyers that determine long-term success.
Over the years, the level of demand for fuel additives has increased due to the increasing penetration of Ultra-Low Sulphur Diesel (ULSD). Fuel additives are used for a variety of applications, such as gasoline, diesel, and others and is forecast to grow at a CAGR of 7%. The major growth drivers for this market are growing fuel demand, growing awareness among users regarding the benefits of fuel additives, demand of high fuel efficiency, and stringent regulations and emission standards adopted by various countries.
Firms that produce fuel additive are approaching market opportunities with starkly different strategies. The analyst, a leading global management consulting and market research firm, has analyzed the global fuel additive suppliers and has come up with a comprehensive research report, Leadership Quadrant and Strategic Positioning of Fuel Additive Suppliers. Using its proprietary research methodology, the analyst has developed a comparative analysis tool, the Leadership Quadrant,' which identifies leaders, contenders, visionaries, and specialists in the fuel additive market and rates each fuel additive producer.
This report also offers a full competitive analysis from target markets to product mapping, from selling strategies to production capabilities. In this research study, eight companies such as Lubrizol, Afton, Innospec, Infineum, BASF, Chevron, Fuel Performance, and Evonik were analyzed and profiled because they are the top revenue producers for fuel additive. The eight profiled manufacturers are grouped in the quadrant. The leadership quadrant analyzes the relative strength among these players. The leadership quadrant addresses the need in the market for manufacturer evaluation based on objective data and metrics.
A total of 60 figures/charts and 6 tables are provided in this 140-pages report to help in your business decisions.
This report answers the following key questions:
Key Topics Covered:
1. Leadership Analysis
1.1: Market Description
1.2: Scoring Criteria
1.3: Leadership Quadrant Analysis
1.3.1: Leaders (Top Right)
1.3.2: Contenders (Bottom Right)
1.3.3: Visionaries (Top Left)
1.3.4: Specialists (Lower Left)
2. Competitive Benchmarking
2.1: Product Portfolio Analysis
2.2: Financial Strength
2.3: Market Share Analysis
2.3.1: Market Share in Various Segments
2.3.2: Market Share in Various Regions
3. Lubrizol Profile
3.1: Company Overview
3.1.1: Lubrizol Company Description and Business Segments
3.1.2: Lubrizol Company Statistics
3.2: Fuel Additive Business Overview
3.2.1: Fuel Additive Business Segment
3.2.2: Global Fuel Additive Operations
3.2.3: Key Differentiators and Strengths
3.3: Products and Product Positioning
3.3.1: Product Line Overview
3.3.2: Fuel Additive Product Mapping
3.3.3: Product Positioning in Market Segments
3.4: Markets and Market Positioning
3.4.1: Market Position in Global Fuel Additive Business
3.5: Revenue Breakdown by Market Segments
3.6: Revenue Breakdown by Regions
3.7: Production
3.7.1: Global Manufacturing Operations
3.8: Innovation and Market Leadership
3.9: Marketing, Sales, and Organizational Capabilities
3.9.1: Marketing and Sales
3.9.2: Management Commitment and Track Record
3.10: Financial Strength
4. Afton Profile
5. Innospec Profile
6. Infineum Profile
7. BASF Profile
8. Chevron Profile
9. Fuel Performance Profile
10. Evonik Profile
For more information about this report visit https://www.researchandmarkets.com/r/kb7qff
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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