HOUSTON--(BUSINESS WIRE)--Consolidated Asset Management Services (CAMS), an industry leading asset management and operations and maintenance (O&M) services provider, announced today that it has been awarded an asset management agreement to support Aerogy, a renewable fuels platform backed by Macquarie Capital that develops, operates and invests in renewable natural gas (RNG) infrastructure projects that convert waste into low-carbon energy.

Aerogy recently announced that it had successfully co-developed, closed financing and commenced construction on an anaerobic digestion facility at a leading dairy producer, Zahn’s Farm, located near Gillett, Wisc. The facility will convert manure into RNG and is anticipated to produce over 200,000 MMBTu of RNG per year.

“We are excited to continue our partnership with Macquarie Capital and its portfolio companies,” said Jeff Sommers, CAMS Chief Financial Officer. “We look forward to helping Aerogy and its owners achieve their goals and continued growth.”

"Macquarie's market-leading expertise in infrastructure combined with CAMS' deep understanding of operations and management will support Aerogy in accelerating projects across the renewable fuels landscape," said Nicholas Gole, Senior Managing Director at Macquarie Capital. "By investing in breakthrough energy solutions which help reduce emissions, Aerogy aims to facilitate the transition to a lower carbon economy."

To learn more about Aerogy and the Zahn’s farm facility, visit www.aerogyenergy.com.

About CAMS

CAMS is a privately held company providing Operations and Maintenance (O&M), Asset Management, Environmental, Social, and Governance (ESG), and Optimization services for energy and infrastructure assets. We add value through superior management and operation of our clients’ assets located throughout the U.S. and internationally. To this end, we empower our employees to pursue creative and sustainable business practices in the field and at our corporate office that contribute to operational excellence, financial performance, a safe workplace, and a better community and environment. For more information, visit www.camstex.com.

About Macquarie Capital

Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in the aerospace, energy, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials, infrastructure, resources, software and services, technology, telecommunications and media sectors.

Julian Kaufmann
Consolidated Asset Management Services
919.747.5050 | This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Autonomous Underwater Vehicle Market Share, Size, Trends, Industry Analysis Report By Technology; By Type; By Shape; By Payload; By Application; By Region; Segment Forecast, 2022-2029" report has been added to ResearchAndMarkets.com's offering.

The global autonomous underwater vehicle market size is expected to reach USD 4,613.6 million by 2029, according to the study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

AUVs are easy to build as they are cost-effective, which in turn is likely to pave the way for the AUV market demand in the near future. Owing to its cost-effectiveness, these are largely employed by several end-users for various purposes. Oceanography application allows the use of AUVs to accumulate and determine oceanographic research data related to marine life and ecosystems.

The archeological & exploration sector accounts for the largest share in the AUV industry. These AUVs allow the exploration of the underwater archaeological sites that helps in the extraction of minerals, further utilized in the manufacturing of smartphones, laptops, and other gadgets.

North America is expected to witness the largest share in the AUV market over the forecast period. The rising demand for AUVs in the U.S is expected to augment the industry growth owing to its wide application in marine projects such as inspection and identification; Intelligence, Surveillance and Reconnaissance (ISR), payload delivery, and oceanography.

The report has segmented the autonomous underwater vehicle market report on the basis of technology, type, shape, payload, application, and region.

Technology Outlook (Revenue, USD Million, 2017-2029)

• Collision Avoidance
• Navigation
• Communication
• Imagery
• Propulsion

Type Outlook (Revenue, USD Million, 2017-2029)

• Shallow AUV
• Medium AUV
• Large AUV

Shape Outlook (Revenue, USD Million, 2017-2029)

• Torpedo
• Laminar Flow Body
• Streamlined Rectangular style
• Multi-hull

Payload Outlook (Revenue, USD Million, 2017-2029)

• Sensors
• Cameras
• Synthetic Aperture Sonars
• Echo Sounders
• Acoustic Doppler Current Profilers
• Others

Application Outlook (Revenue, USD Million, 2017-2029)

• Army & Defense
• Petroleum & Gas
• Environmental Security & Tracking
• Oceanography
• Archeology & Exploration
• Search & Rescue Activities

Regional Outlook (Revenue, USD Million, 2017-2029)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Companies Mentioned

• Atlas Elektronik GmbH
• Bluefin Robotics
• Boing
• Boston Engineering Corporation
• ECA Group
• ecoSUB Robotics
• EELUME AS
• Falmouth Scientific
• Fugro
• Graal Tech
• Hydromea
• International Submarine Engineering (ISE) Ltd.
• Kongsberg Groups
• L3Harris Technologies
• Lockheed Martin Corporation
• Nido Robotics
• Oceanserver Technology
• Riptide Autonomous Solutions
• Saab Group
• Lockheed Martin Corporation
• Teledyne Technologies
• Terradepth
• Tianjin Sublue

For more information about this report visit https://www.researchandmarkets.com/r/dp89hz

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE:RNGR) (the “Company”) will report fourth quarter 2021 financial and operating results after the market closes for trading on March 17, 2022. Following the announcement, the Company’s management will host a fourth quarter 2021 earnings conference call in the morning of March 18, 2022 at 9:30 a.m. Eastern time (8:30 a.m. Central time).

Interested parties are invited to participate on the call by dialing 1-833-255-2829, or 1-412-902-6710 for international calls, (request to join the Ranger Energy Services call) or via the Company’s website at www.rangerenergy.com. A replay of the conference call will be available following the call and can be accessed from www.rangerenergy.com.

About Ranger Energy Services, Inc.

Ranger Energy Services, Inc. is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. The Company also provides non-rig well services that are necessary to bring and maintain a well on production.

Ranger Energy Services, Inc.
J. Brandon Blossman, (713) 935-8900
Chief Financial Officer
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Pipelines Market Outlook to 2025 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Pipelines" report has been added to ResearchAndMarkets.com's offering.

Globally, the total length of trunk/transmission pipeline network is 2,193,250 km (with start years up to 2025), of which, crude oil pipelines constitute 396,244 km, petroleum products pipelines constitute 276,317 km, natural gas pipelines constitute 1,394,979 km and NGL pipelines constitute 125,809 km.

Among the global trunk/ transmission pipeline systems, Transneft Oil System, Transneft Product System, Russian Gas System, and Mid America System are the longest active crude oil, petroleum products, natural gas and NGL pipelines with lengths of 51,052 km, 16,449 km, 175,200 km, and 12,848 km, respectively.

Scope

• Updated information on all active, suspended, planned and announced crude oil, petroleum products, and natural gas trunk/transmission pipelines with start years up to 2025
• Provides key details such as operator name, start year, start point, end point, location, length, diameter and capacity for all active, suspended, planned and announced crude oil, petroleum products, and natural gas pipelines up to 2025
• Provides annual breakdown of new-build capital expenditure outlook by region and by key countries for the period 2021 - 2025.
• Latest developments and contracts related to oil and gas pipelines, at regional level, wherever available.

Reasons to Buy

• Obtain the most up to date information available on all active, suspended, planned and announced trunk/transmission pipelines globally
• Identify growth segments and opportunities in the oil and gas pipelines industry
• Facilitate decision making on the basis of strong pipeline data
• Assess your competitor's pipeline network and its capacity

Key Topics Covered:

1. Introduction

2. Global Oil and Gas Pipelines Industry

3. Africa Oil and Gas Pipelines Industry

4. Asia Oil and Gas Pipelines Industry

5. Caribbean Oil and Gas Pipelines Industry

6. Central America Oil and Gas Pipelines Industry

7. Europe Oil and Gas Pipelines Industry

8. Former Soviet Union Oil and Gas Pipelines Industry

9. Middle East Oil and Gas Pipelines Industry

10. North America Oil and Gas Pipelines Industry

11. Oceania Oil and Gas Pipelines Industry

12. South America Oil and Gas Pipelines Industry

13. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/sli5u7

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners LP (NYSE: PSXP) (“the Partnership”) has filed its annual report on Form 10-K for the fiscal year ended Dec. 31, 2021, with the Securities and Exchange Commission (SEC). The filing can be viewed through the “Investors” area of the Partnership’s website at www.phillips66partners.com by selecting the “SEC Filings” link under the “Financial Information” tab, as well as on the SEC’s website at www.sec.gov.

Unitholders may request a hard copy of the report, which includes the Partnership’s audited financial statements, free of charge. Requests should be submitted in writing to Phillips 66 – 411 S. Keeler Ave., Bartlesville, OK 74003.

About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.

Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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DUBLIN--(BUSINESS WIRE)--The "Leak Detection and Repair Market Size, Share & Trends Analysis Report by Component (Services, Equipment), by Technology (VOC Analyzer, OGI), by Product, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global leak detection and repair market size is expected to reach USD 27.89 billion by 2030, growing at a CAGR of 4.4% over the forecast period. The market growth can be attributed to the increasing demand for oil and oil products across the Asia Pacific, North America, Europe, and MEA regions. According to IEA, oil demand in the Asia Pacific is expected to reach 9 million barrels per day by 2040.

Various government bodies are encouraging the use of advanced leak detection and repair (LDAR) systems, which is creating new opportunities for market growth. For instance, in December 2020, the Protecting Our Infrastructure of Pipelines and Enhancing Safety Act was signed into law in the U.S. This act directs gas pipeline operators to use enhanced leak detection technologies to ensure the safety of pipelines and the environment.

Growing government efforts to reduce methane emissions worldwide are anticipated to accentuate market growth. For instance, the Global Methane Pledge was announced on November 2021 at COP26 in Glasgow to commit to a joint goal of lowering global methane emissions by at least 30% by 2030 as compared to the 2020 levels. This initiative emphasizes reducing methane emissions by tackling methane leaking from oil and gas pipelines, wells, and other fossil fuel infrastructure. The COVID-19 pandemic is anticipated to impact the market growth favorably in the near future.

The pandemic forced oil and gas companies to adopt enhanced leak detection solutions to overcome the challenges caused by employee shortage. The demand for UAV-based detectors increased among oil and gas companies amid the pandemic.

Leak Detection And Repair Market Report Highlights

• In terms of components, the services segment dominated the market in 2021. The segment growth can be attributed to the rise in demand for LDAR services among the oil and gas companies to identify, track, and repair leak components
• In terms of product, the handheld gas detectors segment dominated the LDAR market in 2021. The segment growth can be attributed to the rise in demand for portable gas detection systems in areas, such as oil production, sewage treatment, and tunnel construction
• In terms of technology, the Volatile Organic Compounds (VOCs) analyzers segment dominated the market in 2021 due to the extensive use of VOC analyzers for detecting various gases, such as propane, methane, and carbon dioxide
• North America dominated the market in 2021 owing to stringent regulations, such as Leak Detection Regulations, in the U.S. as well as the high adoption of advanced technologies by companies in the region

Market Dynamics

Market driver analysis

• Increasing oil and gas pipeline infrastructure
• Stringent government regulations to curb methane emissions
• Increased adoption of natural gas-based power plants

Market restraint analysis

• Challenges involved in leak detection in harsh environmental conditions
• The oil and gas upstream segment forges ahead with cost-cutting

Market challenge analysis

• Multiple components' leaks add to increased complexity in detection
• Global focus on the development of renewable energy generation projects

Companies Mentioned

• Aeris Technologies, Inc.
• IBM Thomas J. Watson Research Center
• Bridger Photonics, Inc.
• LI-COR, Inc.
• Duke University
• Colorado State University
• Palo Alto Research Center
• Maxion Technologies Inc.
• Rebellion Photonics
• Physical Sciences Inc.
• Avitas Systems
• PrecisionHawk
• SeekOps, Inc.
• Advisian
• Ball Aerospace & Technologies Corp.
• Gas Ops Leak Detectives, LLC (G.O.L.D. LLC).
• Guideware Systems, LLC.
• Summit Inspections Services, Inc.
• GHD, Inc.
• ERM Group, Inc.
• AECOM
• Guardian Compliance
• ABB Ltd.
• Chicago Bridge & Iron Company N.V.
• Heath Consultants
• ENCOS, Inc.
• Team Inc.
• VelocityEHS
• Picarro Inc.
• Microdrones GmbH
• Boreal Laser Inc.
• Kairos Aerospace

For more information about this report visit https://www.researchandmarkets.com/r/odnfg3

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.041000 per unit, payable on March 14, 2022 to unitholders of record on February 28, 2021. The net profits interest calculation represents reported oil production for the month of November 2021 and reported natural gas production during October 2021. The calculation includes accrued costs incurred in December 2021.

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.

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $3.4 million for the current month on realized wellhead prices of $76.45/Bbl, up $0.2 million from the prior month distribution period.

Recorded natural gas cash receipts from the Underlying Properties totaled $1.7 million for the current month on realized wellhead prices of $5.31/Mcf, up $0.8 million from the prior month distribution period.

Total accrued operating expenses for the period were $2.1 million, a decrease of $0.5 million from the prior period. Capital expenditures increased $0.9 million from the prior period to $1.2 million, primarily due to the expenses related to six new, non-operated drilling projects by private operators in the Permian area.

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. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from COERT Holdings 1 LLC (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 experienced significant fluctuation since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the actions taken by Russia and the members of the Organization of Petroleum Exporting Countries regarding production levels. 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 2020 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, 2020, filed with the SEC on March 23, 2021. 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

NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (the “Company”) announced today that the delisting of its shares (ISIN: GB00BDSFG982) on Euronext Paris was completed on February 18, 2022.

All shares tendered to the voluntary sales facility were sold on the New York Stock Exchange (the “NYSE”) prior to the delisting.

The Company’s shares will remain listed on the NYSE under the symbol “FTI”.

Additional information about the delisting can be found on the Company’s website at www.technipfmc.com.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Investor relations

Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
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Media relations

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of February 2022. Unitholders of record on February 28, 2022 will receive distributions amounting to $0.109409758 per unit, payable on April 29, 2022. The Trust received $238,351, all of which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company. No income was received in February 2022 from any other working interest owner. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $203,895.

The Trust was formed to own an overriding royalty interest of the net proceeds attributable to 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 public 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. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves from $1.0 million to a total of $2.0 million to provide added liquidity.

Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. 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 volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, 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, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2020, Form 10-Q for the quarter ended March 31, 2021, Form 10-Q for the quarter ended June 30, 2021 and Form 10-Q for the quarter ended September 30, 2021. 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. Each unitholder should consult its own tax advisor with respect to its particular circumstances.

Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020

http://mtr.q4web.com/home/default.aspx

DUBLIN--(BUSINESS WIRE)--The "Global Fuel Dispenser Market (2021-2026) by Fuel Type, Type, Flow Meter, Application, Product, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Fuel Dispensers Market is estimated to be USD 2.61 Bn in 2021 and is expected to reach USD 3.68 Bn by 2026, growing at a CAGR of 7.1%.

Market Dynamics

Key factors such as an increase in the adoption of dual fuel and multi-fuel vehicles, reduction, and rise in the sale of natural gas vehicles (NGVs) are primary reasons driving the market growth. Similarly, the increasing number of refilling stations and demand for reducing fuel loss have supported the market growth. Moreover, the advancement in dispensing technologies followed by the demand for gasoline-based products and increasing demand for automobiles are likely to create growth opportunities for the market.

However, factors such as high initial cost and continuous maintenance are likely to restrain the market growth. Moreover, increasing awareness programs for adopting electric vehicles is a key challenge to the market.

Market Influencers

Drivers

• Increasing Adoption of Dual Fuel and Multi-Fuel Vehicles
• Demand for Reducing Fuel Loss
• Rise in Sale of Natural Gas Vehicles (NGVs)
• Increasing Number of Refilling Stations

Restraints

• Misfuel or Crossovers, and Theft Associated
• High Initial Costs and Constant Maintenance

Opportunities

• Advancements in Dispensing Technologies
• Demand for Gasoline-Based Products

Challenges

• Increasing Awareness Programs for Adopting Electric Vehicles

   

Market Segmentation

The Global Fuel Dispenser Market is segmented further based on Fuel Type, Type, Flow Meter, Application, Product, and Geography.

By Fuel Type, the market is classified as Biofuels, Gasoline, Ethanol Fuel, Compressed Hydrogen, LPG, and CNG.

By Type, the market is classified as Submersible Systems and Suction Systems.

By Flow Meter, the market is classified as Mechanical and Electronic.

By Product, the market is classified as Fleet Fuel Dispenser, Mobile Fuel Dispenser, and Retail Fuel Dispenser.

By Geography, APAC is projected to lead the market.

Recent Developments

1. Dover Fueling Solutions (DFS), a part of Dover Corporation has announced the launch of the DFS DMP Probe as a fuel management solution for fuel retailers. 15th September 2020

Companies Mentioned

• Beijing Sanki Petroleum Technology
• Bennett Pump
• Censtar Science & Technology
• Dover Fueling Solutions
• Fortive
• Gilbarco Veeder-Root
• Henshen Machinery
• Kaisai
• Korea EnE
• Lanfeng
• Neotec
• Piusi
• Repos Energy
• Sanki
• Scheidt & Bachmann Tubs
• Spyridis
• Tatsuno
• Tokheim
• Tominaga
• Wayne (Dover)
• Zhejiang Datian Machine

For more information about this report visit https://www.researchandmarkets.com/r/yhw63q

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SASKATOON, Saskatchewan--(BUSINESS WIRE)--$CCJ--Cameco (TSX: CCO; NYSE: CCJ) will issue its first quarter results before markets open on Thursday, May 5, 2022.

Cameco invites investors and the media to join its first quarter conference call with the company's senior executives on Thursday, May 5, 2022 at 8:00 a.m. Eastern.

Cameco will discuss trends in the market and the execution of its strategy before opening the call to questions from investors and the media.

To join the call, please dial 800-319-4610 (Canada and US toll-free) or 604-638-5340. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at cameco.com.

A recorded version of the proceedings will be available on our website shortly after the call, and on post view until midnight, Eastern, June 5, 2022, by calling 800-319-6413 (Canada and US toll-free) or 604-638-9010 (Passcode 8606).

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Investor inquiries:
Rachelle Girard
306-956-6403
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Media inquiries:
Jeff Hryhoriw
306-385-5221
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With Perch, energy service and technology veterans expand access to clean power through community solar and a direct-to-consumer energy platform

BOSTON--(BUSINESS WIRE)--Perch Energy (or “Perch”), a Boston-based clean energy tech and services company with years of experience as a leading solar servicer, launches as an independent company focused on accelerating access for customers to community solar and renewable energy. Spinning off of BlueWave Solar, Perch will build upon its successful, industry-leading community solar services and management platform, add talent and resources to expand its innovative direct-to-consumer energy platform, and scale its community solar services business into a growing list of U.S. markets.

To date, Perch has enabled more than 6,300 community solar subscriptions for homes, businesses, and municipalities, providing more than $9.7 million in customer savings. As a trusted resource to the solar industry with an established customer and revenue base, Perch offers a diverse set of products and services for the management of community solar projects as well as for homeowners, renters, and businesses seeking cost-effective choices for supporting clean energy.

Informed by the team’s experience spanning 500 MW of contracted capacity, Perch Energy provides several innovative solutions that ensure community solar projects reach their subscription goals. By combining a comprehensive suite of community solar services—from acquisition support and credit management to customer service support and detailed reporting—Perch serves as a one-stop shop for asset owners’ needs.

Perch also recently launched its direct-to-consumer digital platform that offers greater choice in clean energy options and exceptional value through continuous market analysis. Through Perch, homeowners and renters instantly gain full transparency into the current clean energy prices available to them locally.

“We are excited to be at the forefront of expanding access to community solar and clean energy, and soon, to communities that have been historically deprived of energy choice,” said Ravi Thuraisingham, acting CEO of Perch Energy. “We look forward to bringing our tools for easier access to renewable energy to more communities.”

About Perch Energy
Perch Energy is a Boston-based clean energy tech and services company that offers a diverse set of products and services for homeowners, renters, businesses, and solar farm owners. From Perch’s community solar project support team, which is dedicated to effective customer onboarding, billing, and engagement, to its automated platform which makes it easy for customers to customize their energy mix and savings — Perch is on a mission to make clean energy options more accessible, more affordable and more equitable for all. Learn more at www.perchenergy.com.

Media
Kenny Gayles
Antenna Group for Perch Energy
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced its fourth quarter results.

We generated the following financial results for the fourth quarter of 2021:

• Net Loss Attributable to Genesis Energy, L.P. of $68.3 million for the fourth quarter of 2021 compared to Net Loss Attributable to Genesis Energy, L.P. of $85.2 million for the same period in 2020.
• Cash Flows from Operating Activities of $95.6 million for the fourth quarter of 2021 compared to $1.1 million for the same period in 2020.
• Total Segment Margin of $155.6 million for the fourth quarter of 2021.
• Available Cash before Reserves to common unitholders of $51.5 million for the fourth quarter of 2021, which provided 2.80X coverage for the quarterly distribution of $0.15 per common unit attributable to the fourth quarter.
• We declared cash distributions on our preferred units of $0.7374 for each preferred unit, which equates to a cash distribution of approximately $18.7 million and is reflected as a reduction to Available Cash before Reserves to common unitholders.
• Adjusted EBITDA of $140.7 million in the fourth quarter of 2021.
• Adjusted Consolidated EBITDA of $594.3 million for the twelve months ended December 31, 2021 and a bank leverage ratio of 4.99X, both calculated in accordance with our senior secured credit agreement and discussed further in this release.

Grant Sims, CEO of Genesis Energy, said, “As we stated at the beginning of the year, 2021 was expected to be a year of transition as our businesses recovered from the impacts of the Covid-19 pandemic and the unprecedented hurricane season of 2020. We did in fact see our businesses begin to recover and our financial performance for 2021 was in line with our expectations.

Importantly, during this transition year, we took steps to significantly enhance the partnership’s financial flexibility to capitalize on the opportunities in front of us. Earlier in the year, we were successful in refinancing our senior secured credit facility and extended its maturity into 2024. In the fourth quarter, we were successful in selling a 36% minority interest in our CHOPS oil pipeline system for gross proceeds of approximately $418 million. We used these proceeds to pay down debt, and were able to exit the year with a leverage ratio, calculated consistent with our senior secured credit facility, of 4.99 times. Additionally, we exited the year with over $600 million of undrawn commitments under our senior secured credit facility. This represents ample liquidity for us to capitalize on the economically attractive opportunities in front of us, including the completion of the expansion of our Granger soda ash facility.

As we look forward to 2022, we are very excited about the continuing recovery and the future trajectory of our businesses. While we will go into more detail below, our two largest businesses are expected to meaningfully improve in 2022 as compared to the past several years. Because of the increasingly tight conditions in the world soda ash market, we expect realized prices in 2022 to be at or above those we realized in 2019, or pre-pandemic. This recovery in pricing, in our mind, is at least one year ahead of schedule, based upon our previous expectations and taking into account the caps and collars we have in place for a significant percentage of our sales contracts. We are also excited because we believe that 2022 will be a year of dramatically increasing volumes out of the deepwater Gulf of Mexico as Kings Quay and Argos begin ramping up production. We expect the contribution from offshore to increase around 10% year over year, even after our sale of a minority interest in CHOPS. As a result, we are rolling out initial guidance for 2022 of total Segment Margin expected in the $620-$640 million range and Adjusted EBITDA⁽¹⁾ expected in the $565-$585 million range. Both preceding ranges reflect zero payments from our legacy CO₂ pipeline business (which totaled $70 million in 2021), a 64% ownership interest in CHOPS for the entire year and have no add-backs or pro forma adjustments as allowed under our senior secured credit facility to determine covenant compliance and/or pricing thereunder.

I’ll quickly turn to our individual segments with a focus on future periods as opposed to spending much time dwelling on the past.

During the quarter, our offshore pipeline transportation segment performed in line with our expectations despite the extended downtime we incurred on our Poseidon oil pipeline as a result of third party onshore facilities being without power for an extended period of time following Hurricane Ida. We believe that our two large upstream developments are now just months away from achieving first production. Both the Argos and Kings Quay floating production systems have been anchored in place in the Gulf of Mexico and both are working to achieve first production soon and anticipate ramping production up to their design capacities of some 80,000 barrels a day and 140,000 barrels a day, respectively, as we move through 2022 and into 2023. Activity levels in and around our assets continue to be exciting in terms of future opportunities to provide midstream services to the upstream community in the Gulf of Mexico. We would expect the midpoint of Segment Margin for our offshore pipeline transportation segment to be approximately $345 million in 2022, which reflects our sale of a 36% minority interest in CHOPS and also represents a full ten days of hurricane related downtime as opposed to our historical practice of anticipating an average of seven days of interruption.

The demand for soda ash continues to improve through a combination of a recovery in global economic activity along with the various tailwinds associated with the energy transition and its applications for solar panels and lithium batteries. This rapidly increasing demand coupled with, as a practical matter, a net decrease in supply provides a favorable environment for price redetermination for volumes to be sold in 2022. As such, we anticipate our weighted average realized price in 2022, even after taking into account the caps and collars under a significant percentage of our multi-year sales agreements, to actually exceed the weighted average price we realized in 2019, prior to any of the temporary demand destruction associated with the pandemic.

We see nothing on the horizon to significantly alter this higher priced environment. Demand growth with flat supply will always drive prices higher. Additionally, the costs associated with synthetic producers have dramatically increased, both on an absolute and relative basis when compared to natural producers’ costs, again providing a constructive backdrop for soda ash prices. Based on this expectation of market conditions, we have made the decision to restart our original Granger production facility and its roughly 500,000 tons of annual production in the first quarter of 2023. The Granger expansion, representing an incremental 700,000 tons or so of annual production remains on schedule and on budget for first production in the third quarter of 2023.

Our legacy refinery services business, which happens to be one of the most, if not in fact the most, eco-friendly methods to deal with sulfur entrained in the crude oil consumed at a refinery, continues to meet our financial performance expectations. It continues to benefit from copper’s role in the energy transition, where the majority of our resultant, sulfur removal by-product is used. Our industry leading position in this business combined with our world-class soda ash operations are expected to produce total Sodium Minerals and Sulfur Services Segment Margin in 2022 of approximately $210 million, at our midpoint.

Market conditions in our marine transportation segment continue to improve. As refinery utilization continues to recover, as heavy/light differentials return to historical norms, and as the effects of net equipment retirements are felt industry wide, we expect utilization rates and spot and term day rates to continue to recover and in fact accelerate as we move through 2022. As a result, we expect the Segment Margin for our marine transportation segment, as we have historically presented it, to be approximately $50 million at the midpoint of our expectations for 2022.

In our onshore facilities and transportation segment, we completed our exit from the CO₂ pipeline business at the end of 2021. As a result, our 2022 Segment Margin will have no contribution from that exited business, which represented $70 million in last year’s results, given how our exit was structured. We would expect the midpoint of Segment Margin for our onshore facilities and transportation segment to total approximately $25 million in 2022, which will start out relatively small on a quarterly basis and accelerate through the year as we expect increasing utilization of our assets.

In summary, as we get 2020 and 2021 in our rear view mirror, we remain very excited with the expected improving financial results of our market leading businesses and continue to have a definite line of sight of $700-$800 million of annual Adjusted EBITDA in coming years, even after the sale of a minority interest in CHOPS. This outlook highlights the resiliency of our businesses and demonstrates the tremendous operating leverage we have to overall improving market conditions. The management team and board of directors remain steadfast in our commitment to build long-term value for all of our stakeholders, and we believe the decisions we are making reflect this commitment and our confidence in Genesis moving forward.

I would once again like to recognize our entire workforce for their efforts and unwavering commitment to safe and responsible operations. I’m proud to be associated with each and every one of you.”

Financial Results

Segment Margin

Variances between the fourth quarter of 2021 (the “2021 Quarter”) and the fourth quarter of 2020 (the “2020 Quarter”) in these components are explained below.

Segment Margin results for the 2021 Quarter and 2020 Quarter were as follows:

Offshore pipeline transportation Segment Margin for the 2021 Quarter increased $21.8 million, or 42%, from the 2020 Quarter primarily due to higher overall volumes on our crude oil and natural gas pipeline systems as a result of less unplanned downtime in the 2021 Quarter. During the 2020 Quarter, our offshore pipeline transportation segment experienced continued downtime and interruption from weather events, including Hurricanes Delta and Zeta, as a result of producers shutting in and us taking the necessary safety precautions to remove all personnel from the platforms that we operate and maintain. In addition to the majority of our assets being shut in for approximately 15 days during the 2020 Quarter, our CHOPS pipeline, although not damaged, was out of service beginning on August 26, 2020 (and for the full 2020 Quarter) due to damage at a junction platform that the CHOPS pipeline goes up and over. During the 2020 Quarter, we were able to successfully divert all CHOPS volumes to our 64% owned Poseidon oil pipeline system, but continued to incur our fixed costs associated with the CHOPS pipeline in addition to incremental operating costs we had to incur as a result of regulatory inspections and maintenance to return our assets to service. During the 2021 Quarter, while we did have some effects to our Segment Margin as a result of our Poseidon pipeline being down for part of September as a result of Hurricane Ida and certain onshore delivery constraints (as the distributions we received during the 2021 Quarter relate to business activities from September to November), the impacts were not as significant as those from the 2020 Quarter. The 2021 Quarter included normal activities on our CHOPS pipeline as well as less interruption across our infrastructure relative to the 2020 Quarter. This overall increase in activity was partially offset by our divestiture of a 36% minority interest in CHOPS on November 17, 2021, and thus, 36% of the results of CHOPS were attributable to our noncontrolling interests subsequent to the transaction date.

Sodium minerals and sulfur services Segment Margin for the 2021 Quarter increased $4.5 million, or 11%. This increase is primarily due to higher NaHS volumes in our refinery services business and more favorable export pricing in our Alkali Business. In our refinery services business, our NaHS sales volumes increased during the 2021 Quarter as demand has continued to recover and return to its pre-pandemic levels over the last twelve months due to the re-opening of economies, specifically from our mining customers in Peru. In our Alkali Business, we continued to produce at a high rate at our Westvaco facility during the 2021 Quarter. Additionally, we saw continued improvements in export pricing in the 2021 Quarter relative to the 2020 Quarter and sequentially from the first nine months of 2021, which is evidence that the supply and demand balance is becoming more aligned.

Onshore facilities and transportation Segment Margin for the 2021 Quarter decreased $10.3 million, or 28%. This decrease is primarily due to lower cash receipts from Denbury associated with our previously owned NEJD pipeline. On October 30, 2020, we reached an agreement with a subsidiary of Denbury Inc. to transfer to it the ownership of our remaining CO₂ assets, including the NEJD and Free State pipelines, included within our onshore facilities and transportation segment. As a part of the agreement, we received $22.5 million in cash proceeds for the Free State pipeline (which is included in segment margin during the 2020 Quarter) and we received $17.5 million in the 2021 Quarter for the remaining principal payment associated with our previously owned NEJD pipeline. Additionally, we had lower contracted minimum volume commitments with our main customer associated with our Baton Rouge corridor assets (including rail, terminal and pipeline) as these commitments stepped down during 2021.

Marine transportation Segment Margin for the 2021 Quarter increased $2.6 million, or 36%. This increase is primarily attributable to higher utilization in both our inland and offshore barge businesses, partially offset by slightly lower day rates in our inland business during the 2021 Quarter. Lower refinery utilization in the Midwest and Gulf Coast significantly impacted and caused pressure on both the day rates and utilization within our inland barge operation. While we have begun to see slight improvements, we have continued to enter into short term contracts (less than a year) in both the inland and offshore markets because we believe the day rates currently being offered by the market have yet to fully recover.

Other Components of Net Income

We recorded Net Loss Attributable to Genesis Energy, L.P. of $68.3 million in the 2021 Quarter compared to Net Loss Attributable to Genesis Energy, L.P. of $85.2 million in the 2020 Quarter.

Net Loss Attributable to Genesis Energy, L.P. in the 2021 Quarter was impacted by: (i) higher segment margin of $18.6 million, relative to the 2020 Quarter (which was inclusive of $22.5 million associated with cash receipts from the sale of our Free State pipeline and included in the 2020 Quarter’s segment margin); (ii) an unrealized (non-cash) gain from the valuation of the embedded derivative associated with our Class A Convertible Preferred Units of $0.2 million in the 2021 Quarter compared to an unrealized (non-cash) loss of $18.3 million during the 2020 Quarter recorded within “Other expense, net”; and (iii) lower expense of $22.0 million as the 2020 Quarter included a loss on sale of assets. These increases were offset by: (i) higher depreciation, depletion and amortization of $35.7 million in the 2021 Quarter primarily as a result of changes in estimates associated with certain of our non-core asset retirement obligations; (ii) higher general and administrative costs of $11.2 million during the 2021 Quarter as a result of increased transaction costs associated with our sale of a 36% minority interest in CHOPS; (iii) lower equity in earnings of equity investees of approximately $10.1 million as a result of lower volumes transported on the Poseidon pipeline during the 2021 Quarter; and (iv) higher interest expense of $4.9 million during the 2021 Quarter.

Earnings Conference Call

We will broadcast our Earnings Conference Call on Thursday, February 17, 2022, at 9:00 a.m. Central time (10:00 a.m. Eastern time). This call can be accessed at www.genesisenergy.com. Choose the Investor Relations button. For those unable to attend the live broadcast, a replay will be available beginning approximately one hour after the event and remain available on our website for 30 days. There is no charge to access the event.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.

Genesis Energy, L.P.
Ryan Sims
SVP - Finance and Corporate Development
(713) 860-2521

AMES, Iowa--(BUSINESS WIRE)--#biodiesel--Bunker Holding Group, the world’s largest supplier and trader of marine fuels, and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG), a leading global producer and supplier of renewable fuels, have entered into a strategic global collaboration agreement to further develop the U.S. and EU marine markets for sustainable bio-based diesel.

Partnering REG’s expertise in bio-based diesel with Bunker Holding’s global reach will allow the companies to play a critical role in transitioning the shipping industry to new and more sustainable energy sources. This collaboration agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are being run in high-traffic regions of both continents.

For REG, this agreement continues its efforts to expand product offerings with further reach into the approximately 70 billion gallon, or 230 million metric tons, global marine market and is a clear signal of the company’s mission to enable a cleaner world and reduce greenhouse gas emissions. REG biodiesel is the clean fuel option for many sectors, including on-road transportation, marine and rail, and can help companies reach sustainability targets without any major equipment modifications or technology investments.

“At Renewable Energy Group we see clearly the opportunity for biodiesel to be a sustainable fuel option of choice for customers in the clean energy transition. Partnering with Bunker Holding will accelerate the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals,” said Bob Kenyon, Senior Vice President, Sales and Marketing at REG. “Our renewable fuels and customer service are helping to reduce greenhouse gas emissions today and offer a plug-and-play solution for the current shipping infrastructure. We look forward to further developing our relationship with Bunker Holding and supporting the shipping industry’s decarbonization movement.”

With this partnership, Bunker Holding takes yet another step forward in continuing its mission of delivering responsible and innovative solutions in all aspects of bunkering. REG will work closely with Bunker Holding to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale to create significant value for the industry.

“As conventional fossil fuel continues to power most of the world’s marine fleet, we are thrilled to engage in this collaboration with REG. It not only further strengthens our supply chain of alternative fuel, but also deepens our know-how and insight of biofuels,” said Christoffer Berg Lassen, CCO of Bunker Holding. “Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonization strategy. The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who bring great expertise and complements our core capabilities within bunkering.”

About Renewable Energy Group

Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons, or 1.7 million metric tons, of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.

About Bunker Holding

Bunker Holding is the world's largest supplier and trader of marine fuels. Since 1981 the company has specialized in the purchase, sale and supply of fuel and lube oil to ships. The company also helps manage risk and volatility in fuel prices and is committed to always be forward-looking and focused on answering the needs and challenges of an ever-changing industry.

With more than 1,600 specialists in 35 countries worldwide, the clients of Bunker Holding know that a local expert is always at hand with detailed insights into suppliers, port logistics, local availability, and pricing.

Bunker Holding is the largest company in the USTC Group. USTC has served global shipping for more than 140 years and holds a portfolio of activities that include oil & energy, shipping & logistics, ship owning, risk management, car activities and IT.

Forward Looking Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the ability of REG and Bunker Holding to develop the U.S. and EU marine markets for sustainable bio-based diesel, the companies’ ability to play a critical role in transitioning the shipping industry to new and more sustainable energy sources, biodiesel’s ability to help companies reach sustainability targets without major equipment modifications or technology investments, biodiesel being a sustainable fuel option of choice for customers, accelerating the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals, REG’s renewable fuels and customer service helping to reduce greenhouse gas emissions and offering a plug- and-play solution for the current shipping infrastructure, REG and Bunker Holding expanding the Bunker Holding alternative fuel portfolio and offering sustainable fuels on a global scale. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward- looking statements. Factors that could cause actual results to differ materially include, but are not limited to, customer preferences for low carbon fuels and desire to source product from REG and/or Bunker Holding, the ability of the marine industry to successfully use biodiesel in existing and new infrastructure, changes in governmental programs and policies, the ability of REG and Bunker Holding to work together successfully, and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2020 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.

For Investors:
Renewable Energy Group
Todd Robinson
Deputy Chief Financial Officer and Treasurer
+1 (515) 239-8048
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For Media:
Renewable Energy Group
Katie Stanley
Manager, Communications
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Hydrogen Fuel Cell Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.

The country research report on Saudi Arabia hydrogen fuel cell market is a customer intelligence and competitive study of the Saudi Arabia market. Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the Saudi Arabia market.

Also, factors that are driving and restraining the hydrogen fuel cell market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market. Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of hydrogen fuel cell market in Saudi Arabia.

Segments Covered

The report on Saudi Arabia hydrogen fuel cell market provides a detailed analysis of segments in the market based on type, and application.

Segmentation Based on Type

• Phosphoric Acid Fuel Cells (PAFC)
• Polymer Exchange Membrane Fuel Cells (PEMFC)
• Solid Oxide Fuel Cells (SOFC)
• Direct Methanol Fuel Cells (DMFC)
• Molten Carbonate Fuel Cells (MCFC)

Segmentation Based on Application

• Automotive
• Power Storage
• Portable Power
• Material Handling Equipment
• Others

Highlights of the Report

The report provides detailed insights into:

1) Demand and supply conditions of hydrogen fuel cell market

2) Factor affecting the hydrogen fuel cell market in the short run and the long run

3) The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, and technological factors

4) Key trends and future prospects

5) Leading companies operating in hydrogen fuel cell market and their competitive position in Saudi Arabia

6) The dealers/distributors profiles provide basic information of top 10 dealers & distributors operating in (Saudi Arabia) hydrogen fuel cell market

7) Matrix: to position the product types

8) Market estimates up to 2027

The report answers questions such as:

1) What is the market size of hydrogen fuel cell market in Saudi Arabia?

2) What are the factors that affect the growth in hydrogen fuel cell market over the forecast period?

3) What is the competitive position in Saudi Arabia hydrogen fuel cell market?

4) What are the opportunities in Saudi Arabia hydrogen fuel cell market?

5) What are the modes of entering Saudi Arabia hydrogen fuel cell market?

Key Topics Covered:

1. Report Overview

2. Executive Summary

3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for Saudi Arabia Hydrogen Fuel Cell Market

3.5. Growth Matrix Analysis

3.6. Competitive Landscape in Saudi Arabia Hydrogen Fuel Cell Market

4. Saudi Arabia Hydrogen Fuel Cell Market by Type

4.1. Phosphoric Acid Fuel Cells (PAFC)

4.2. Polymer Exchange Membrane Fuel Cells (PEMFC)

4.3. Solid Oxide Fuel Cells (SOFC)

4.4. Direct Methanol Fuel Cells (DMFC)

4.5. Molten Carbonate Fuel Cells (MCFC)

5. Saudi Arabia Hydrogen Fuel Cell Market by Application

5.1. Automotive

5.2. Power Storage

5.3. Portable Power

5.4. Material Handling Equipment

5.5. Others

For more information about this report visit https://www.researchandmarkets.com/r/455y4t

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SAN DIEGO--(BUSINESS WIRE)--Dalrada Corporation (OTCQB: DFCO, "Dalrada") would like to thank its investors, shareholders, and staff for their ongoing support while announcing Mr. Charles "Charlie" Tang as a new member of its Clean Energy Advisory Board, focusing on technology. Mr. Tang is a leading expert in Internet of Things (IOT) solutions that enable Artificial Intelligence (AI) at the edge within a distributed ecosystem. He recently launched and led large-scale initiatives to quickly modernize digitally, aiding commercial and governmental organizations amid the global pandemic.

Mr. Tang is currently leading an effort to create the first cognitive AI-powered metaverse utilizing technologies that lower costs for data sharing and improve security for customers.

Brian Bonar, Chairman and CEO of Dalrada, states, "Mr. Tang has spent much of his career helping transform businesses in the public, private, and non-profit sectors. Having launched many large-scale initiatives to help organizations quickly and securely implement solutions to complex challenges, we appreciate Mr. Tang's commitment as an Advisor. His experience with massive digital transformation provides valuable insight for bridging the gap between technology and clean energy initiatives."

Mr. Tang's professional efforts in the digital transformation of healthcare positively affected how the Centers for Medicare & Medicaid Services, the payors of $1.6 trillion in annual payments, provides continual services amid the global health crisis. Additionally, his leadership in the healthcare space enabled the development of the most extensive population health surveillance system in the history of the United States. In just five days, the system connected all fifty states, six territories, 8,000 counties, and more than 20,000 U.S. nursing homes and hospitals.

Mr. Tang states, "I look forward to contributing to Dalrada's growth as a market leader, driving progressive change in the decades to come by continuing to bring together the best and brightest minds in clean energy, technology, and healthcare."

As a former Principal of an Information Technology firm with experience in private, commercial, and federal markets, Mr. Tang brings together many senior executive teams to collaborate and execute national and multinational initiatives.

His deep network of experts across healthcare, defense, law enforcement, and intelligence agencies delivers creative outcome-driven solutions that support highest-level operations.

Mr. Tang has led business development and sales efforts for large multinational organizations focused on technology, healthcare, and energy marketplaces. His leadership has generated over $7 billion in revenue throughout his career.

Bonar concludes, "Dalrada is honored to welcome Mr. Tang as a Clean Energy Board Advisor. His extensive comprehension of how to leverage technology for data tracking of environmental sustainability initiatives directly aligns with the Company's ongoing expansion in clean energy."

Dalrada's subsidiaries, including Dalrada Technologies, Dalrada Health, and Dalrada Precision, continuously innovate impactful solutions to address the complex challenges of today and the future. For more information on Dalrada, please visit www.dalrada.com.

About Dalrada (DFCO)

With perseverance, valor, dedication, and vision, Dalrada Corporation is dedicated to tackling worldwide challenges of today and tomorrow.

Dalrada is a global company that operates under the tenet of creating impactful innovations that matter for the world. The Company works continually to produce disruptive solutions that bridge the gap of accessibility and accelerate positive change for current and future generations.

Established in 1982, the Company has since grown its footprint to include the business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. Each of Dalrada's subsidiaries actively produces affordable and accessible world-class solutions to global problems. For more information, please visit www.dalrada.com.

Disclaimer

Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

Denise Mahaffey
858.283.1253
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Prysmian Group finalizes agreement to build new cable manufacturing facility at Brayton Point, transforming former coal power plant into clean energy hub

SOMERSET, Mass.--(BUSINESS WIRE)--Avangrid Renewables, a subsidiary of AVANGRID Inc. (NYSE: AGR), and Prysmian Group today announced an historic milestone in the development of the offshore wind industry in the United States and AVANGRID’s Commonwealth Wind project, as Prysmian Group finalized an agreement to acquire a 47 acre parcel at the former Brayton Point coal plant in Somerset where it will construct the first facility in Massachusetts for the manufacturing of offshore wind components. The Prysmian Group facility, which will manufacture subsea transmission cables to bring the clean power generated by offshore wind to the electrical grid, was included as part of Avangrid Renewables’ 1,232 Megawatt (MW) Commonwealth Wind project. Commonwealth Wind was selected by Massachusetts in December 2021 as part of the state’s third competitive procurement for offshore wind power.

“AVANGRID is proud to be a leader in the U.S. offshore wind industry and deliver transformational investments that create quality jobs, support local economies, and advance the development of a local supply chain for the growing U.S. market,” said Chairman and CEO of Iberdrola and Chairman of AVANGRID Ignacio Galán.“Today marks an historic milestone in the United States’ and Massachusetts’ transition to a clean energy future, as we celebrate this agreement to build a new cable manufacturing facility at Brayton Point. Drawing on Iberdrola’s global offshore wind experience, we are uniquely positioned to help states like Massachusetts capitalize on the opportunities presented by this new industry.”

“We are very pleased with the progress of our project to build a new plant in Brayton Point," commented Hakan Ozmen, EVP Projects Business at Prysmian Group. "I would like to extend particular thanks to the Massachusetts state government for its attention to this important project, which will make it possible to convert the area home to the former Somerset coal plant to production in support of the energy transition in the USA. Prysmian Group already has a significant presence in the USA and the new plant will allow us to provide even closer support to our customers and gain a strong competitive advantage in a market expected to undergo sharp growth, with the goal of 30 gigawatts of new capacity to be installed by 2030 under the Biden Plan.”

“The Commonwealth has taken aggressive, nation leading steps in our effort to secure cost-effective offshore wind energy that contributes to our goal of reaching net zero emissions by 2050 and provides critical energy reliability,” said Governor Charlie Baker. “The construction of the Prysmian Groups new facility at Brayton Point will have considerable positive impacts on the state, the regional workforce, and local economies and we are pleased to join so many partners here today to celebrate this milestone.”

“In December 2021, our Administration selected an additional 1,600 megawatts of clean and affordable energy that will directly benefit both ratepayers in the coming years and the environment by reducing the release of greenhouse gas emissions here in the Commonwealth,” said Lieutenant Governor Karyn Polito. “We are beginning to see the significance of that announcement today, with the planned construction of the new manufacturing facility at Brayton Point, which will have a positive lasting impact on the Town of Somerset and the surrounding region.”

“AVANGRID is proud to be at the forefront of the offshore wind industry’s growth, as we plan to invest over $10 billion to build our portfolio of more than 2,400 megawatts to serve New England customers,” said Dennis V. Arriola, AVANGRID CEO. “Our Commonwealth Wind project represents the full potential of a clean energy future – abundant, affordable energy, thousands of local jobs and transformational economic development, the creation of a diverse and equitable workforce, and a brighter future for historic industrial communities.”

Brayton Point is a former 1,600 MW coal-fired power plant which was commissioned in 1963 and decommissioned in 2017. The site was identified by AVANGRID and Prysmian Group as an ideal location for local offshore wind manufacturing due to its waterfront industrial location and large acreage. Through a $200 million investment, Prysmian Group will construct a facility to manufacture subsea transmission cables, and will design, supply, install and commission cabling for AVANGRID’s Commonwealth Wind and Park City Wind projects.

In December 2021, Commonwealth Wind was selected by Massachusetts through its third competitive procurement process for offshore wind power. The project represents the largest offshore wind project in New England and will create 11,000 full time equivalent jobs over the project’s lifetime while generating enough energy to power 750,000 homes annually.

“In developing the Commonwealth Wind project, our team is tremendously proud to deliver Massachusetts’ first offshore wind manufacturing facility and realize the dream of long-term manufacturing jobs on the South Coast,” said Bill White, President and CEO of Avangrid Renewables Offshore. “By working with an industry leading partner in Prysmian, this partnership is a great example of how we can transform 20^th Century infrastructure into clean energy hubs for the future to serve as anchors for long term jobs and investment.”

“The Baker-Polito Administration was a first mover in securing offshore wind generation to meet the Commonwealth’s climate goals while positioning the local supply chain to support this growing industry,” said Energy and Environmental Affairs Secretary Kathleen Theoharides. “Today’s announcement to construct the new facility at Brayton Point is a major step forward in our ongoing efforts to achieve net zero emissions while providing significant economic benefits for the Commonwealth’s residents.”

In addition to the Brayton Point facility, Commonwealth Wind will establish Massachusetts’ second offshore wind port in Salem Harbor, which will provide another anchor for the creation of long-term jobs to support the emerging offshore wind industry.

Commonwealth Wind will also deliver a host of energy, environmental, and workforce benefits to Massachusetts, including a first-in-the-nation partnership to supply offshore wind power to municipal utilities, significant investments in the development of a diverse, inclusive and equitable workforce, and an investment in New Bedford to create an offshore wind operations and maintenance control center.

“Clean and affordable energy, local family-sustaining wages, new investments in communities up and down the Massachusetts coast—that’s the promise of offshore wind development, and today, that promise is being kept,” said Senator Edward J. Markey, Chairman of the Senate Environment and Public Works Subcommittee on Clean Air, Climate, and Nuclear Safety and author of the Offshore Wind American Manufacturing Act. “This announcement will not only help power clean energy revolution in the Commonwealth, but help us build a robust domestic offshore wind supply chain and continue the South Coast’s leadership in that revolution. I commend those involved in this landmark project, and look forward to transforming bolts into volts.”

“As the offshore wind industry continues to grow in the United States, projects like the Prysmian Group’s facility at Brayton Point signal to the world that Massachusetts is poised to be a regional leader in providing clean, renewable offshore wind energy,” said House Speaker Ronald J. Mariano. “Avangrid Renewables’ Commonwealth Wind project means more jobs for Massachusetts, increased capacity for industry growth, and greater progress toward reducing our emissions reduction goals.”

“This is a great day for Somerset and a huge step towards transforming Brayton Point into the clean energy hub we’ve known it could and should be,” said Representative Patricia Haddad (D-Somerset). “The community has worked tirelessly to reinvigorate this site and I am thrilled to see this vision become a reality today."

"Offshore wind creates good jobs and provides clean energy,” said Congressman Jake Auchincloss (D, MA-04). “Brayton Point is keystone infrastructure in Massachusetts' evolution to offshore wind powerhouse."

“With reports of rising sea levels in Massachusetts and elsewhere, I’m proud that the Commonwealth is not slowing down when it come to leading in offshore wind development,” stated Senate President Karen E. Spilka (D-Ashland). “This latest step brings us closer to our goal of a robust, integrated offshore wind industry here in our state, which will provide good jobs for our residents and help our entire nation reach our clean energy goals.”

“I am thrilled that Brayton Point has been chosen for a state-of-the-art facility that will be home to over 150 high skilled jobs, anchoring Somerset and the SouthCoast at the forefront of our Commonwealth’s offshore wind industry,” said State Senator Michael Rodrigues (D-Westport), Chair of the Senate Committee on Ways and Means. “This is a game changer for our community and I applaud Prysmian and Avangrid Renewables for recognizing the economic potential of our region and making a long-term commitment to investing in our workforce.”

“This announcement is a huge boost for the Commonwealth’s growing offshore wind industry and offers significant benefits to the Somerset and surrounding communities,” said Jeffrey Roy (D-Franklin), House Chair of the Telecommunications, Utilities & Energy Committee. “Having a manufacturer of components necessary for the wind infrastructure in Massachusetts offers economic development benefits and helps us achieve our goals under the 2021 Roadmap Bill. I look forward to many more advancements in this industry which boost the economy and help to reduce global warming at the same time.”

In January 2022, Avangrid Renewables announced the completion of the restructuring of its existing Vineyard Wind joint venture to become the largest offshore wind supplier in New England. In total, Avangrid Renewables has a projected offshore wind pipeline of 5.3 Gigawatts (GW) on the East Coast of the United States – enough to power more than two million households. In addition to Commonwealth Wind and its 50% stake in the first-in-the-nation Vineyard Wind 1 project (800 MW total), AVANGRID owns 100% of Park City Wind (804 MW to Connecticut) and Kitty Hawk Offshore Wind (2500 MW off the coast of North Carolina).

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

Prysmian Group

Prysmian Group is world leader in the energy and telecom cables and systems industry. With 140 years of experience, sales of over €10 billion, about 30,000 employees in over 50 countries and 104 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how.

It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.

Based in Highland Heights, Ky., Prysmian Group North America operations include 27 manufacturing facilities, 14 distribution centers, 6 R&D centers, and over 5,800 employees with net sales of near $4 billion.

Craig Gilvarg
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857-998-1130

Lorenzo Caruso
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DUBLIN--(BUSINESS WIRE)--The "Submarine Fiber Optics Communications Systems (SFOCS)" newsletter has been added to ResearchAndMarkets.com's offering.

The field of Submarine Fiber Optics Communications Systems (SFOCS) for Telecommunications is booming. Driven by the internet demand, technology, deregulation, and privatization, Submarine Fiber Optics continues to present new business opportunities for existing and new players in the field.

The SFOCS Newsletter provides a monthly Market Intelligence report on new developments in markets, technology and applications. Of special interest will be developments in optical amplifier technology, solutions, Wavelength Division Multiplexing and as these are having a major impact on the Submarine Fiber Optic business.

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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today reported its estimated proved oil and natural gas reserves at December 31, 2021, which showed a 20% year-over-year increase in total proved reserves, including a 56% year-over-year increase in proved developed reserves, each as compared to the Company’s proved oil and natural gas reserves at December 31, 2020.

Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, commented, “Matador is pleased today to report a 20% year-over-year increase in our total proved reserves from 270.3 million BOE at December 31, 2020 to 323.4 million BOE at December 31, 2021, an all-time high for Matador. This reserves increase reflects the strong well results we continue to deliver across our various asset areas in the Delaware Basin and the significant improvement in the capital efficiency of our drilling and completions program in recent years. For the full year 2021, Matador’s drilling and completion costs for all operated horizontal wells turned to sales averaged approximately $670 per completed lateral foot, a year-over-year decrease of 21% and an all-time low for Matador on an annual basis. Matador clearly delivered ‘better wells for less money’ in 2021.

“The Standardized Measure and PV-10 of our proved reserves at December 31, 2021 both increased significantly from a year ago. The Standardized Measure increased 2.8-fold from $1.58 billion at December 31, 2020 to $4.38 billion at December 31, 2021, and the PV-10 increased 3.2-fold from $1.66 billion at December 31, 2020 to $5.35 billion at December 31, 2021. At December 31, 2021, our proved oil and natural gas reserves were valued using an oil price of $63.04 per barrel and a natural gas price of $3.60 per MMBtu, an increase of 75% and 81%, respectively, as compared to $36.04 per barrel and $1.99 per MMBtu at December 31, 2020. Matador’s proved oil and natural gas reserves at December 31, 2021 were also impacted positively by the increase in commodity prices used to estimate proved reserves at December 31, 2021, and particularly the 29% increase in our proved natural gas reserves, where the improved natural gas pricing contributed to longer economic well lives and increased reserves volumes.

“Importantly, Matador’s year-end 2021 proved reserves also reflect a 56% year-over-year increase in our proved developed reserves from 123.5 million BOE at December 31, 2020 to 193.3 million BOE at December 31, 2021. Matador’s proved developed reserves now represent 60% of our total proved reserves at December 31, 2021, as compared to 46% at December 31, 2020. This notable increase in proved developed reserves is attributable to the quality of new wells we completed and turned to sales and the increase in commodity prices, but also due to the development and conversion of a significant portion of our proved undeveloped reserves to proved developed reserves during 2021, resulting largely from Matador’s drilling and completions activities in the Stateline asset area and the Rodney Robinson leasehold in the western portion of the Antelope Ridge asset area. This increase in proved developed reserves during 2021 was instrumental to the 50% increase in the borrowing base under our reserves-based credit facility from $900 million to $1.35 billion we achieved in November 2021 and should contribute to potential future increases in our borrowing base going forward.

“Matador believes it is well positioned for additional growth in its proved reserves volumes, Standardized Measure and PV-10 in 2022, given the strong well results we continue to achieve throughout our Delaware Basin acreage position and should commodity prices remain at or near their current levels.”

Proved Reserves, Standardized Measure and PV-10

The following table summarizes Matador’s estimated total proved oil and natural gas reserves at December 31, 2021, 2020 and 2019.

(1) Numbers in table may not total due to rounding.

(2) Matador’s estimated proved reserves, Standardized Measure and PV-10 were determined using index prices for oil and natural gas, without giving effect to derivative transactions, and were held constant throughout the life of the properties. The unweighted arithmetic averages of first-day-of-the-month prices for the period from January through December 2021 were $63.04 per Bbl for oil and $3.60 per MMBtu for natural gas, for the period from January through December 2020 were $36.04 per Bbl for oil and $1.99 per MMBtu for natural gas and for the period from January through December 2019 were $52.19 per Bbl for oil and $2.58 per MMBtu for natural gas. These prices were adjusted by property for quality, energy content, regional price differentials, transportation fees, marketing deductions and other factors affecting the price received at the wellhead. Matador reports its proved reserves in two streams, oil and natural gas, and the economic value of the NGLs associated with the natural gas is included in the estimated wellhead price on those properties where NGLs are extracted and sold.

(3) One thousand barrels of oil.

(4) One billion cubic feet of natural gas.

(5) One thousand barrels of oil equivalent, estimated using a conversion factor of one barrel of oil per six thousand standard cubic feet of natural gas.

(6) Standardized Measure represents the present value of estimated future net cash flows from proved reserves, less estimated future development, production, plugging and abandonment and income tax expenses, discounted at 10% per annum to reflect the timing of future cash flows. Standardized Measure is not an estimate of the fair market value of Matador’s properties.

(7) PV-10 is a non-GAAP financial measure. For a reconciliation of PV-10 (non-GAAP) to Standardized Measure (GAAP), please see “Supplemental Non-GAAP Financial Measures.” PV-10 is not an estimate of the fair market value of Matador’s properties.

The proved reserves estimates presented for each period in the table above were prepared by the Company’s internal engineering staff and audited by an independent reservoir engineering firm, Netherland, Sewell & Associates, Inc. These proved reserves estimates were prepared in accordance with the Securities and Exchange Commission’s rules for oil and natural gas reserves reporting and do not include any unproved reserves classified as probable or possible that might exist on Matador’s properties.

For a reconciliation of PV-10 (non-GAAP) to Standardized Measure (GAAP), please see “Supplemental Non-GAAP Financial Measures” below.

Total Proved Reserves at December 31, 2021 Increased 20% Year-Over-Year and Proved Developed Reserves Increased 56% Year-Over-Year

• Matador’s total proved oil and natural gas reserves increased 20% year-over-year from 270.3 million barrels of oil equivalent (“BOE”) (59% oil, 46% proved developed, 97% Delaware Basin) at December 31, 2020 to 323.4 million BOE (56% oil, 60% proved developed, 96% Delaware Basin) at December 31, 2021. Oil, natural gas and total proved reserves at December 31, 2021 were each at all-time highs for Matador.

• At December 31, 2021, the Standardized Measure and PV-10, a non-GAAP financial measure, of Matador’s total proved oil and natural gas reserves increased 2.8-fold and 3.2-fold to $4.38 billion and $5.35 billion, respectively, from $1.58 billion and $1.66 billion, respectively, at December 31, 2020. The increase in both Standardized Measure and PV-10 of Matador’s proved oil and natural gas reserves at December 31, 2021 resulted from the increase in both oil and natural gas prices used to estimate proved reserves at December 31, 2021, as compared to December 31, 2020, but also from the increase in Matador’s total proved reserves, and in particular, the Company’s proved developed reserves during 2021.

• Matador’s proved developed oil and natural gas reserves increased 56% year-over-year from 123.5 million BOE (56% oil) at December 31, 2020 to 193.3 million BOE (53% oil) at December 31, 2021. The upward revisions in the Company’s proved developed reserves at December 31, 2021 were primarily attributable to (i) the development and conversion of approximately 40 million BOE of proved undeveloped reserves to proved developed reserves through the Company’s drilling and completion activities in the Delaware Basin, (ii) extensions and discoveries resulting from new well locations drilled during 2021 for which proved reserves were not previously booked and (iii) the increase in both oil and natural gas prices used to estimate proved reserves.

• Matador’s proved undeveloped oil and natural gas reserves decreased 11% year-over-year from 146.8 million BOE (62% oil) at December 31, 2020 to 130.1 million BOE (61% oil) at December 31, 2021. During the year ended December 31, 2021, Matador converted approximately 40 million BOE, or 27%, of its proved undeveloped reserves at December 31, 2020 to proved developed reserves. These conversions were partially offset by extensions and discoveries to proved undeveloped reserves as a result of the Company’s drilling activities in the Delaware Basin during 2021.

Supplemental Non-GAAP Financial Measures

PV-10

PV-10 is a non-GAAP financial measure and generally differs from Standardized Measure, the most directly comparable GAAP financial measure, because it does not include the effects of income taxes on future net revenues. PV-10 is not an estimate of the fair market value of the Company’s properties. Matador and others in the industry use PV-10 as a measure to compare the relative size and value of proved reserves held by companies and of the potential return on investment related to the companies’ properties without regard to the specific tax characteristics of such entities. PV-10 may be reconciled to the Standardized Measure of discounted future net cash flows at such dates by adding the discounted future income taxes associated with such reserves to the Standardized Measure.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; impact on the Company’s operations due to seismic events; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, increases in its borrowing base and otherwise; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and its business; the operating results of the Company’s midstream joint venture’s Black River cryogenic natural gas processing plant; the timing and operating results of the buildout by the Company’s midstream joint venture of oil, natural gas and water gathering and transportation systems and the drilling of any additional produced water disposal wells; and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Mac Schmitz
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NBA Champion Channing Frye joins Mobil 1 and non-profit partners to unveil the newly renovated and redesigned gym at historic Merrick House

SPRING, Texas--(BUSINESS WIRE)--Mobil 1™, the Official Motor Oil of the NBA, today announced a new initiative with non-profit Project Backboard to revitalize local community basketball courts across the nation. The initiative is part of Mobil 1’s recently launched Tune Up program in which the leading Motor Oil brand is helping NBA 2K players tune up their skills, while simultaneously tuning up community courts.

“We’re really excited for the opportunity to be working with Project Backboard this year and revitalize the court at the Merrick House in Cleveland,” said Bryce Huschka, North America Consumer Marketing Manager for ExxonMobil. “In the same way that Mobil 1 helps drivers keep doing what they love, this initiative is helping communities across the nation to keep doing what they love by updating basketball courts that provide a safe and fun place for people of all ages to go and play.”

The community initiative led by Mobil 1 kicks off in Cleveland, Ohio during NBA All-Star 2022, and celebrates the reopening of the Merrick House basketball court and gymnasium. The space, which serves many purposes for the local community, was completely redesigned and revamped by Cleveland-native artist Dakarai Akil.

“Our mission at Project Backboard is to use basketball courts to create artwork that strengthens communities and promotes multi-generational play,” explained Dan Peterson, Founder of Project Backboard. “Thanks to Mobil 1 and Dakarai Akil, and Luis Perez from HERO Flooring LLC, we were able to recreate the court at Merrick House, which is rich in history but was in need of an upgrade. We’re confident the artwork and renovations will have a lasting positive impact on the community.”

Merrick House has been an integral part of the Cleveland community for more than 100 years while offering members a wide range of meaningful services including infant child care, preschool, and youth mentoring to adult education and recreation. The much-needed renovations to the basketball court will help the historic neighborhood center continue to empower its community with confidence.

“Throughout its history, Merrick House has been a place to come for support, growth and learning as well as a way to escape the stresses of everyday,” shared Harriet Hadley, Executive Director, Merrick House. “We are so grateful that Mobil 1 and Project Backboard recognized how special our space is to the community and chose us to be a part of the Tune Up initiative. We know our members, especially the children, will benefit greatly from the new basketball court.”

Former Cleveland Cavaliers player and NBA Champion Channing Frye will join Mobil 1 and Project Backboard at Merrick House on February 18 to celebrate the opening of the new gym and meet the community members who will benefit from the renovation. Frye, who has established various foundations throughout his career to help young children and give back to cities that are important to him, is leveling up his dedication to supporting at-risk communities with his involvement in the Tune Up initiative.

“The work Mobil 1 and Project Backboard are doing in Cleveland is really meaningful,” said Channing Frye. “I’m honored to have the opportunity to return to a city that holds a special place in my heart to help reopen a space that has such a positive impact on the community.”

As a part of the efforts to improve the facilities at Merrick House, leading technology company Microsoft and nonprofit organization Hoopbus will join Mobil 1 and Project Backboard for the unveiling event in Cleveland. Microsoft will showcase the newly upgraded computer lab and Hoopbus will host community members in exciting programming while utilizing the new gym.

About Mobil 1

Mobil 1™ motor oil is the world's leading brand of synthetic motor oil. Our advanced technology allows Mobil 1 motor oils to meet or exceed some of the industry’s toughest standards and to provide exceptional protection under even extreme driving conditions. Mobil 1 motor oil is designed to help protect critical engine parts, maximize engine performance, and extend engine life. For more information, visit us online at www.mobil1.us or and follow @Mobil1 on Facebook, Instagram and Twitter.

About Project Backboard

Project Backboard is a 501(c)(3) organization whose mission is to renovate public basketball courts and install large scale works of art on the surface in order to strengthen communities, improve park safety, encourage multi-generational play, and inspire people to think more critically and creatively about their environment. For more information, visit us online at https://projectbackboard.org/ or and follow @project_backboard on Instagram.

ExxonMobil Media Relations, 972-940-6007