HAMBURG, Germany--(BUSINESS WIRE)--#ContainerControl--On the lines of the launch of Container Control, a revolutionary, first-of-its-kind technology platform for freight forwarders and NVOCCs worldwide, Container xChange published results of its recent poll to bring to light the burning pain points of container logistic companies and how the product aims to solve them.  

The poll shows that 60% of freight forwarders, NVOCCs and traders find it difficult to keep a track of pick-up and drop-off of containers, their location and the timestamps thereof. 

57% of Freight forwarders point to ‘Containers’ as their biggest challenge in the coming peak season, and 43% poll for ‘lack of real-time visibility' as the second biggest challenge.  

“As the container logistic industry still grapples with unprecedented challenges, it becomes important that companies realize the power of digital adoption for tackling future uncertainties. Container Control is a sophisticated tool for freight forwarders and NVOCCs that gives visibility into a container’s journey from pickup to drop off and provide transparency for a user, so they can save time on manual repetitive tasks. Thus, increasing container operations per month and deliver better customer service.” 

“The idea is to automate the container management process for freight forwarders so they can focus less on manual operational work processes and more on expanding their business across geographies. We equip them with the data and processes that simplify their business. And for the industry, it solves the challenge of monitoring and managing containers all at one single sophisticated platform.” said Dr. Johannes Schlingmeier, cofounder and CEO, of Container xChange. 

“From the moment the container is born, to its last journey, we want to digitalize every process and this product is a huge step in the right direction. By bringing all the parties online, Container Control will transform the way container logistic companies connect and do business.” added Schlingmeier.  

Container Control solves two key pain points for freight forwarders and NVOCCs across the globe – 1. Monitoring container in near real-time from pickup to drop off, 2. Getting a clear overview of all releases and containers they have in use. The customers will now be able to add all release references to the platform, so they can easily match all available containers to the shippers’ bookings and get information about their movements. The data is gathered directly from depots. 

One of the customers of Container xChange, Benny Huygen, Commodities Business Development Manager, Kuehne + Nagel Belgium, said: “We are happy to see how Container xChange has made our job easier. It’s a crucial part of my role to have an overview of the available containers, quickly match them to container bookings, and be on top of container movements from pick-up to drop-off. With Container Control I will be able to do it all faster and have more time to deliver amazing customer experience.” 

Jack Sun, Director at Orange Container Line, shared on the occasion, “Monitoring container pickups and drop-offs on the Container xChange platform have been a valuable addition to our business. Previously it was a highly manual job requiring a lot of resources and prone to mistakes. Now, we check it on xChange Container Control and get the overview of containers journey on the way from point A to B and always on top of the whereabouts of our containers. I firmly believe that rapidly automating our processes and putting our best minds to leverage these technologies can help us scale our business.”

To learn the ways how to get an access to Container Control and prices, click on the link www.container-xchange.com/container-control 

About Container xChange   

Container xChange is a technology company that offers a container trading and leasing platform, payment infrastructure and efficient operating systems to container logistic companies worldwide. Covering the entire transaction process of shipping containers starting with finding new partners to tracking containers and managing payments, xChange makes using 3rd party equipment as easy as booking a hotel. We are on a mission to simplify the logistics of global trade.   

Meghna Bhattacharya; This email address is being protected from spambots. You need JavaScript enabled to view it.

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID (NYSE: AGR), a leading sustainable energy company and part of the Iberdrola Group, released the following statement regarding its motion, filed with the Massachusetts Department of Public Utilities (DPU), seeking a one-month suspension in the Department’s review of the Power Purchase Agreements for the Commonwealth Wind project (DPU Dockets 22-70, 22-71, 22-72).

“In response to the unprecedented economic challenges facing all major infrastructure projects, including historic price increases for global commodities, sharp and sudden increases in interest rates, prolonged supply chain constraints, and persistent inflation, AVANGRID has filed a motion with the Massachusetts Department of Public Utilities seeking a one-month suspension in the review of the Power Purchase Agreements (PPAs) for the Commonwealth Wind project. A one-month suspension in the proceeding provides a needed opportunity for AVANGRID, the Massachusetts Electric Distribution Companies, state and regulatory officials, and stakeholders to evaluate the current economic challenges facing Commonwealth Wind and assess measures that would return the project to economic viability including, but not limited to, modest changes to the PPAs. Commonwealth Wind remains the best possible solution for Massachusetts to meet its ambitious clean energy and climate goals, and despite historic global headwinds, the project is well-positioned to reach commercial operations in 2028, help the state achieve its 2030 emissions reduction target, and provide significant environmental and economic benefits to the Commonwealth and its ratepayers.”

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 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 more than 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 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

MEDIA:
Craig Gilvarg
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(857) 998-1130

• Revenue of $7.5 billion increased 10% sequentially and 28% year on year
• International revenue of $5.9 billion increased 13% sequentially and 26% year on year
• North America revenue of $1.5 billion was flat sequentially and increased 37% year on year
• GAAP EPS of $0.63 decreased 6% sequentially and increased 62% year on year
• EPS, excluding charges and credits, of $0.63 increased 26% sequentially and 75% year on year
• Cash flow from operations was $1.6 billion and free cash flow was $1.1 billion
• Board approved quarterly cash dividend of $0.175 per share

HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today announced results for the third-quarter 2022.

Third-Quarter Results

Schlumberger CEO Olivier Le Peuch commented, “The second half of the year is off to a great start with strong third-quarter results that reflect the acceleration of international momentum and solid execution across our Divisions and areas. Sequentially, we delivered another quarter of double-digit revenue growth and margin expansion, as the pace of growth in our international business stepped up significantly, complementing already robust levels of activity in North America.

“On a companywide basis, sequential revenue grew 10%, by more than $700 million; EPS—excluding charges and credits—increased 26%; pretax segment operating margin expanded 161 basis points (bps) to reach 18.7%; and free cash flow was $1.1 billion. Both EPS—excluding charges and credits—and pretax segment operating margin represent their highest levels since 2015, as we continue to execute on our returns-focused strategy with much success.

“Year-over-year comparisons were exceptional with revenue growing by 28%; EPS—excluding charges and credits—increasing 75%; and pretax segment operating margin expanding 320 bps.”

Revenue growth was led by Well Construction and Production Systems as global activity strengthened—particularly in the offshore and international markets. Schlumberger’s leading position in these markets continues to propel strong and profitable growth in the Core. The quarter was also supported by continued backlog conversion, strong technology adoption, and the growing effects of pricing improvements. Reservoir Performance also grew, while Digital & Integration declined as growth in digital solutions was more than offset by the non-repeat of exploration data transfer fees recorded in the previous quarter.

International Torque Ramps Up as Revenue Exceeds Third-Quarter 2019 Level

Le Peuch said, “Third-quarter revenue was driven by International, which posted 13% growth sequentially and 26% year on year. International revenue also exceeded third-quarter 2019 levels, on a rig count that is still approximately 25% lower than in 2019. This comparison highlights the significant gains we have made in strengthening our market participation and our continued growth potential as rigs mobilize internationally in the quarters to come.”

Sequentially, growth was prevalent across all international areas led by Europe/CIS/Africa and Latin America, which increased 21% and 14%, respectively. This was driven by increased activity and higher pricing in Well Construction, in addition to higher Production Systems sales. Middle East & Asia revenue improved 8% sequentially due to increased multidivisional activity across Asia and higher Reservoir Performance revenue in the Middle East.

Outperforming in our Core—Strong Growth in Well Construction and Production Systems

Le Peuch said, “Our Schlumberger Core continues to perform extremely well as we continue to leverage our global breadth, leading technology portfolio, and pricing improvements to drive top- and bottom-line growth momentum.”

Revenue growth by Division was led by Well Construction with revenue increasing 15% sequentially, outperforming global rig count growth due to strong activity and pricing improvements in the Europe/CIS/Africa and Latin America areas. Similarly, Production Systems revenue grew 14% sequentially on higher product deliveries and backlog conversion, mostly in international offshore basins. Reservoir Performance revenue grew 9% due to higher intervention and stimulation activity, both on land and offshore, particularly in the Middle East & Asia and Europe/CIS/Africa areas. Year on year, revenue from all Divisions experienced double-digit growth, led by Well Construction, which grew 36%.

In relation to margin performance, Well Construction and Reservoir Performance led in sequential margin expansion having posted 403 bps and 209 bps growth, respectively. Year on year, Well Construction margin expanded 635 bps to reach 22%, due to broad pricing improvements and improved operating leverage.

Constructive Energy Fundamentals and a Supply-Led Decoupling of Upstream Investment

Le Peuch said, “While concerns remain over the broader economic climate, the energy industry fundamentals continue to be very constructive. Against the backdrop of the energy crisis and limited spare global capacity, the world faces an urgent need for increased investment to rebalance markets, create supply redundancies, and rebuild spare capacity. All of these are exacerbated by geopolitics and increasing instances of supply disruptions.

“These dynamics and the urgency to restore balance are resulting in a supply-led upcycle, characterized by the decoupling of upstream investment from near-term demand volatility. Furthermore, the need for sustained investments is reinforced by the long-term demand trajectory through the end of the decade and by OPEC+ decisions that are keeping commodity prices at supportive levels.

“Concurrently, we are witnessing a significant commitment from the industry to decarbonize oil and gas, with E&P operators all over the world deploying capital and adopting technologies—including digital—at scale, to reduce emissions. Taken together, we expect these constructive fundamentals and secular trends to support multiple years of growth.”

A Strong Finish in the Making for an Outstanding Year

Le Peuch said, “On a companywide basis, year-to-date revenue increased more than 20%; EPS on a GAAP basis grew 83%; EPS—excluding charges and credits—grew 67%; and pretax segment operating margin expanded 285 bps. I am very proud of these exceptional results delivered by the Schlumberger team as we approach the end of an outstanding year.

“As we close the year, we expect to deliver sequential revenue growth and margin expansion in the fourth quarter.

“To conclude, we have stronger conviction in our strategy and the opportunities across our three engines of growth—the Core, Digital, and New Energy. Constructive market fundamentals for oil and gas, energy security, and the urgency to accelerate the energy transition will support increased investment—in both clean energy technology development and lower carbon oil and gas production. We have positioned the company for long-term outperformance, with a diverse set of opportunities across the entire energy value chain. These technology-led opportunities cover oil and gas, industrial decarbonization, and new energy systems—all supported by digital transformation.

“Recent regulatory decisions and incentives reinforce our view of this compelling investment outlook and our strategic direction. We are prepared to apply our technology, global scale, and industrialization capabilities to lead in this energy landscape and deliver outstanding value for our customers and shareholders.

“I am truly excited about our future as we continue to drive innovation for a resilient and balanced energy system. I look forward to sharing at our upcoming Investor Conference, our views of the industry, revenue growth ambitions, earnings, and returns potential.”

Other Events

On August 30, 2022, Schlumberger, Aker Solutions, and Subsea 7 announced an agreement to form a joint venture to drive innovation and efficiency in subsea production to help customers unlock reserves and reduce cycle time. The agreement will bring together a portfolio of innovative technologies such as subsea gas compression, all-electric subsea production systems, and other electrification capabilities that help customers meet their decarbonization goals. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2023.

In October 2022, Schlumberger redeemed $895 million of its outstanding notes, consisting of $600 million of 2.65% Senior Notes and $295 million of 3.625% Senior Notes, both due 2022.

On October 20, 2022, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.175 per share of outstanding common stock, payable on January 12, 2023, to stockholders of record on December 7, 2022.

Revenue by Geographical Area

International

Revenue in Latin America of $1.5 billion increased 14% sequentially due to higher Well Construction revenue from increased drilling activity and improved pricing. Increased Production Systems sales in Brazil contributed to the sequential revenue growth. Year on year, revenue grew 30% due to higher drilling activity and increased pricing across the area. Increased stimulation and drilling activity in Argentina as well as higher Production Systems sales in Brazil also contributed to the year-on-year revenue growth.

Europe/CIS/Africa revenue of $2.0 billion increased 21% sequentially. This significant growth was driven by strong Well Construction activity and improved pricing across the area, higher Production Systems sales in Europe and Scandinavia, and multidivisional activity increases in Sub-Sahara Africa. Year on year, revenue grew 38%, from higher Production Systems sales in Europe and Scandinavia, increased Well Construction activity, and improved pricing.

Revenue in the Middle East & Asia of $2.3 billion increased 8% sequentially due to increased multidivisional activity across Asia and higher Reservoir Performance revenue in the Middle East. Year on year, revenue increased 15% due to increased multidivisional activity across Asia and higher activity from new projects in the Middle East—notably, increased drilling activity in Iraq and the United Arab Emirates and higher stimulation revenue in Oman.

North America

North America revenue of $1.5 billion was essentially flat sequentially as double-digit growth in US land revenue was offset by reduced exploration data sales in the US Gulf of Mexico due to the significant transfer fees recorded in the previous quarter. US land revenue growth outperformed the rig count increase sequentially due to higher drilling activity, increased sales of well and surface production systems, and improved pricing.

Compared to the same quarter last year, North America revenue grew 37%. All Divisions experienced significant year-on-year revenue growth, led by Well Construction and Production Systems, which grew 62% and 23%, respectively.

Third-Quarter Results by Division

Digital & Integration

Digital & Integration revenue of $900 million experienced a 6% sequential decline with a change in revenue mix compared to the previous quarter. Revenue grew internationally, driven by higher digital sales in the Middle East & Asia, Europe/CIS/Africa, and Latin America areas while revenue was lower in North America on lower exploration data sales.

Year on year, revenue growth of 11% was driven primarily by higher digital sales across all areas and higher Asset Performance Solutions (APS) project revenue, particularly in Canada.

Digital & Integration pretax operating margin of 34% contracted 586 bps sequentially and 119 bps year on year due to a less favorable revenue mix.

Reservoir Performance

Reservoir Performance revenue of $1.5 billion increased 9% sequentially primarily due to higher intervention and stimulation activity, both on land and offshore, particularly in the Middle East & Asia and Europe/CIS/Africa areas. North America growth was due to higher intervention activity in the US Gulf of Mexico.

Year on year, revenue growth of 22% was broad across all areas due to increased activity. The revenue growth was led by the Middle East & Asia area, which grew 30%. Intervention and stimulation services experienced double-digit growth, both on land and offshore.

Reservoir Performance pretax operating margin of 17% expanded 209 bps sequentially. Profitability was boosted by higher offshore and development activity, particularly in the North America, Middle East & Asia, and Latin America areas.

Year on year, pretax operating margin expanded 77 bps with profitability improving both in intervention and stimulation, and geographically in the North America and Europe/CIS/Africa areas.

Well Construction

Well Construction revenue of $3.1 billion increased 15% sequentially, outperforming global rig count growth due to strong activity from new projects and solid pricing improvements internationally, particularly in the Europe/CIS/Africa and Latin America areas. In North America, sequential revenue growth outpaced the rig count increase in both US land and offshore. Double-digit growth was pervasive across its measurement, drilling, fluids, and equipment business lines.

Year on year, revenue growth of 36% was driven by strong activity and solid pricing improvements, led by North America and Latin America, both of which grew more than 60%. Europe/CIS/Africa revenue increased 28% while Middle East & Asia revenue grew 16% year on year. High double-digit growth was recorded across the Division’s business lines led by drilling fluids and measurements—both on land and offshore.

Well Construction pretax operating margin of 22% expanded 403 bps sequentially, due to improved profitability in all business lines and across all areas, most prominently in Latin America. Margin expansion was due to higher offshore and exploration activity, favorable technology mix, and solid pricing improvements.

Year on year, pretax operating margin expanded 635 bps, with profitability improving across all areas, driven by higher activity and boosted by improved pricing.

Production Systems

Production Systems revenue of $2.2 billion increased 14% sequentially on higher product deliveries and backlog conversion—mostly offshore internationally as supply chain and logistics constraints continue to ease. The increase was driven by double-digit revenue growth across most business lines: in Europe/CIS/Africa on higher deliveries of subsea and well production systems; in Latin America due to higher sales of subsea and midstream production systems; in Middle East & Asia on higher sales of well, surface, and midstream production systems; and in North America, mainly in US land, on increased sales of well and surface production systems.

Year on year, double-digit growth was driven by new projects and increased product deliveries mainly in Europe/CIS/Africa, North America, and Latin America.

Production Systems pretax operating margin of 10% expanded 142 bps sequentially due to improved operating leverage from higher volume of sales.

Year on year, pretax operating margin was slightly higher by 55 bps as higher sales volume was partially offset by increased logistics costs and unfavorable revenue mix.

Quarterly Highlights

As the strong growth cycle in oil and gas advances, Schlumberger continues to secure new contracts in North America and internationally, particularly in the Middle East and in offshore basins. During the quarter, Schlumberger secured the following notable projects:

• In Norway, Equinor awarded Schlumberger a contract for work at up to 11 wells at their challenging, high-temperature Kristin Sor and Halten East fields. The integrated services contract includes electric wireline logging, drilling, measurements, and project management. Work is expected to start in late 2023 and continue until 2025.
• QatarEnergy has awarded Schlumberger a five-year wireline services contract. The contract covers open- and cased-hole wireline logging on land and offshore, as well as tubing-conveyed perforating and data processing and interpretation. Schlumberger technologies, including the 10,000-psi hydraulic frac packer, 3D far-field sonic service, Optiq* Schlumberger fiber-optic solutions, and Pulsar* multifunction spectroscopy service, will be deployed to evaluate new and existing wells in various projects and optimize the production and injection of such wells. Work is expected to start in the fourth quarter of 2022.
• Abu Dhabi National Oil Company (ADNOC) has awarded Schlumberger a five-year framework agreement for drilling-related services, valued at $482 million. With an optional two-year extension, the scope of the award covers drill bits, directional drilling, and logging-while-drilling services. Supporting ADNOC in its drive to improve efficiency while delivering the lowest cost, lowest carbon intensity barrels, Schlumberger will provide advanced directional drilling and logging services to achieve high-quality wellbores with proven trajectory control, for accurate drilling of extended-reach horizontal and complex directional wells.
• In Brazil, Petrobras awarded Schlumberger a contract for the latest-generation MaxFORTE* high-reliability electric submersible pump (ESP) system for the deepwater Jubarte Field. This award also includes a 10-year extension of in-country remote ESP surveillance, intervention, and domain expertise provided by Schlumberger. The first generations of the MaxFORTE ESP systems, developed for Petrobras’ subsea developments in the Campos Basin offshore Brazil, have so far delivered an excellent reliability above four years, despite dramatic pressure and temperature swings—while producing prolific volumes of heavy oil, emulsions, and gas. Run life of this duration is a result of stringent quality from manufacturing to installation, and the extended time between workovers for ESP replacement is a significant value for Petrobras.
• Also in Brazil, Enauta signed contracts with Schlumberger for the development of a holistic subsea production system in the Atlanta Field, Enauta’s main oil production asset in the Santos Basin. The award includes a range of subsea field-proven technologies, including a multiphase subsea boosting system and subsea trees. The agreement represents a robust solution that will integrate existing wells and support future development of the Atlanta Field.
• In Kazakhstan, Schlumberger was awarded a decarbonized production operations contract by Karachaganak Petroleum Operating B.V (KPO). The project will use technology that eliminates flaring—maximizing hydrocarbon monetization and avoiding an estimated 10,000 metric tons of CO₂e per well. The production scope of the three-year contract—which also includes wireline—covers well cleanup, production boosting, and well bleedoff packages, which will be delivered using the Production ExPRESS* rapid production response solutions. Schlumberger will use the CleanPhase* well test separator in combination with Transition Technologies*—including the REDA Multiphase HPS* horizontal multistage surface pump, and Vx Spectra* surface multiphase flowmeter—to deliver this project scope with zero flaring.
• In Canada, BP Canada Energy Group ULC (bp) has awarded Schlumberger an integrated well construction and evaluation contract for its Ephesus deepwater exploration well. The contract is scheduled to commence in 2023 and includes well construction and reservoir evaluation products and services.
• In the US, Schlumberger was awarded multiple scopes for an enhanced oil recovery pilot project by Denbury Onshore, LLC.

Investor Relations Contacts:
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
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Media Contacts:
Josh Byerly – Vice President of Communications, Schlumberger Limited
Moira Duff – Director of External Communications, Schlumberger Limited
Office +1 (713) 375-3407
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DUBLIN--(BUSINESS WIRE)--The "Carbon Capture, Utilization, and Storage Market by Service (Capture, Transportation, Utilization, Storage), Technology (Chemical Looping, Solvents & Sorbent, Bio-Energy CCS, Direct Air Capture), End-Use Industry, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global carbon capture, utilization, and storage market size is projected to grow from USD 2.4 Billion in 2022 to USD 4.9 Billion by 2027, at a CAGR of 15.1% during the forecast period. The increasing demand for carbon capture, utilization, and storage in power generation, and oil & gas industry is one of the most significant factors projected to drive the growth of the carbon capture, utilization, and storage market.

Transportation is the fastest growing service type of carbon capture, utilization, and storage market

Transportation is second within the procedure that is followed after capturing the carbon. It involves transporting carbon from the capture location to the storage area using trucks, ships and pipelines. Pipelines are most favored as they offer low value for transportation in long term. As well, it is the technique where the emission of CO2 throughout the transportation is significantly lower, making it most effective for the purpose. For industrial applications, onshore trucks are favored, whilst for EOR and storage application purposes, pipelines offers a powerful mode of transportation of CO2. As per the Global CCS Institute, there already exists 6500 kms of CO2 pipeline, most of it linked to EOR packages.

Chemical looping is the fastest growing technology adopted in the carbon Capture, utilization, and storage market

Chemical looping or chemical looping combustion is an inherent CO2 capture process during thermal fuel conversion activities in industries. It mainly involves a series of chemical reactions to produce nitrogen-free flue gas that majorly constitutes CO2, H2O, and reduced oxy-carbonates. This flue gas, having much less chemical mixture, is then separated and utilized during other stages of the carbon capture, utilization, and storage program. Chemical looping technology is majorly installed in the separation and capture of carbon from flue gas emitted in the oil & gas and chemical industries.

Power generation to be the fastest growing industry in the carbon capture, utilization, and storage market

Fossil fuel power plants generate a significant amount of CO2 emissions, which are the main cause of climate change. Among CO2 mitigation options, carbon capture and storage is considered the only technology that can significantly reduce the emissions of CO2 from fossil fuel combustion sources. The existing fleet of fossil fuel combustion power plants currently generates significant amounts of CO2 emissions into the atmosphere (more than 12 billion tons of CO2 per year). According to the International Energy Agency, electricity production from fossil fuels will increase by nearly 30% by 2035, inevitably leading to more CO2 emissions. This is where carbon capture, utilization, and storage will be highly useful to curb these emissions of CO2. There are mainly three technological routes for CO2 capture from power plants: post-combustion, pre-combustion, and oxy-fuel combustion. The prime advantage of post-combustion capture is that it can be integrated into existing power plants without altering the combustion process.

North America to be the dominating region in carbon capture, utilization, and storage market in terms of both value and volume.

North America led the carbon capture, utilization, and storage market, in terms of value, in 2021 and is projected to register a CAGR of 14.1% between 2022 and 2027. The growth of the region's market is driven by the early adoption of CCUS technology in the region and the execution of various large-scale projects in the US and Canada. Major projects such as the Petra Nova Carbon Capture Project (US) and Boundary Dam CCS Project (Canada) supported the market in North America.

Market Dynamics

Drivers

• Growing Focus on Reducing CO2 Emissions
• Increasing Demand for CO2 in EOR
• Rising Environmental Awareness to Increase Natural Gas Demand

Restraints

• High Capital Cost of Carbon Capture and Storage
• Safety Concerns Over Storage Techniques and Sites

Opportunities

• Increasing Investments in Developing Newer and Efficient Technology for Carbon Capture, Storage, and Transportation
• Increasing Number of Projects in Asia-Pacific
• Incorporation of Large-Scale Hydrogen Projects

Challenges

• High Capex for CCUs
• Reducing Carbon Capturing Cost

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Carbon Capture, Utilization, and Storage Market, by Service

7 Carbon Capture, Utilization, and Storage Market, by Technology

8 Carbon Capture, Utilization, and Storage Market, by End-use Industry

9 Carbon Capture, Utilization, and Storage Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

• Aker Solutions
• Carbfix
• Carbon Clean
• Carbon Collect
• Carbon Engineering
• Drax Group
• ENI SPA
• Equinor Asa
• Exxonmobil Corporation
• Fluor Corporation
• Honeywell International
• JGC Holdings Corporation
• Linde PLC
• Mitsubishi Heavy Industries, Ltd
• Schlumberger Limited
• Shell PLC
• Suzhou Jinhong Gas Co Ltd

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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• Revenue of $7.5 billion increased 10% sequentially and 28% year on year
• International revenue of $5.9 billion increased 13% sequentially and 26% year on year
• North America revenue of $1.5 billion was flat sequentially and increased 37% year on year
• GAAP EPS of $0.63 decreased 6% sequentially and increased 62% year on year
• EPS, excluding charges and credits, of $0.63 increased 26% sequentially and 75% year on year
• Cash flow from operations was $1.6 billion and free cash flow was $1.1 billion
• Board approved quarterly cash dividend of $0.175 per share

HOUSTON--(BUSINESS WIRE)--Regulatory News:

Schlumberger Limited (NYSE: SLB) today announced results for the third-quarter 2022.

Third-Quarter Results

Schlumberger CEO Olivier Le Peuch commented, “The second half of the year is off to a great start with strong third-quarter results that reflect the acceleration of international momentum and solid execution across our Divisions and areas. Sequentially, we delivered another quarter of double-digit revenue growth and margin expansion, as the pace of growth in our international business stepped up significantly, complementing already robust levels of activity in North America.

“On a companywide basis, sequential revenue grew 10%, by more than $700 million; EPS—excluding charges and credits—increased 26%; pretax segment operating margin expanded 161 basis points (bps) to reach 18.7%; and free cash flow was $1.1 billion. Both EPS—excluding charges and credits—and pretax segment operating margin represent their highest levels since 2015, as we continue to execute on our returns-focused strategy with much success.

“Year-over-year comparisons were exceptional with revenue growing by 28%; EPS—excluding charges and credits—increasing 75%; and pretax segment operating margin expanding 320 bps.”

Revenue growth was led by Well Construction and Production Systems as global activity strengthened—particularly in the offshore and international markets. Schlumberger’s leading position in these markets continues to propel strong and profitable growth in the Core. The quarter was also supported by continued backlog conversion, strong technology adoption, and the growing effects of pricing improvements. Reservoir Performance also grew, while Digital & Integration declined as growth in digital solutions was more than offset by the non-repeat of exploration data transfer fees recorded in the previous quarter.

International Torque Ramps Up as Revenue Exceeds Third-Quarter 2019 Level

Le Peuch said, “Third-quarter revenue was driven by International, which posted 13% growth sequentially and 26% year on year. International revenue also exceeded third-quarter 2019 levels, on a rig count that is still approximately 25% lower than in 2019. This comparison highlights the significant gains we have made in strengthening our market participation and our continued growth potential as rigs mobilize internationally in the quarters to come.”

Sequentially, growth was prevalent across all international areas led by Europe/CIS/Africa and Latin America, which increased 21% and 14%, respectively. This was driven by increased activity and higher pricing in Well Construction, in addition to higher Production Systems sales. Middle East & Asia revenue improved 8% sequentially due to increased multidivisional activity across Asia and higher Reservoir Performance revenue in the Middle East.

Outperforming in our Core—Strong Growth in Well Construction and Production Systems

Le Peuch said, “Our Schlumberger Core continues to perform extremely well as we continue to leverage our global breadth, leading technology portfolio, and pricing improvements to drive top- and bottom-line growth momentum.”

Revenue growth by Division was led by Well Construction with revenue increasing 15% sequentially, outperforming global rig count growth due to strong activity and pricing improvements in the Europe/CIS/Africa and Latin America areas. Similarly, Production Systems revenue grew 14% sequentially on higher product deliveries and backlog conversion, mostly in international offshore basins. Reservoir Performance revenue grew 9% due to higher intervention and stimulation activity, both on land and offshore, particularly in the Middle East & Asia and Europe/CIS/Africa areas. Year on year, revenue from all Divisions experienced double-digit growth, led by Well Construction, which grew 36%.

In relation to margin performance, Well Construction and Reservoir Performance led in sequential margin expansion having posted 403 bps and 209 bps growth, respectively. Year on year, Well Construction margin expanded 635 bps to reach 22%, due to broad pricing improvements and improved operating leverage.

Constructive Energy Fundamentals and a Supply-Led Decoupling of Upstream Investment

Le Peuch said, “While concerns remain over the broader economic climate, the energy industry fundamentals continue to be very constructive. Against the backdrop of the energy crisis and limited spare global capacity, the world faces an urgent need for increased investment to rebalance markets, create supply redundancies, and rebuild spare capacity. All of these are exacerbated by geopolitics and increasing instances of supply disruptions.

“These dynamics and the urgency to restore balance are resulting in a supply-led upcycle, characterized by the decoupling of upstream investment from near-term demand volatility. Furthermore, the need for sustained investments is reinforced by the long-term demand trajectory through the end of the decade and by OPEC+ decisions that are keeping commodity prices at supportive levels.

“Concurrently, we are witnessing a significant commitment from the industry to decarbonize oil and gas, with E&P operators all over the world deploying capital and adopting technologies—including digital—at scale, to reduce emissions. Taken together, we expect these constructive fundamentals and secular trends to support multiple years of growth.”

A Strong Finish in the Making for an Outstanding Year

Le Peuch said, “On a companywide basis, year-to-date revenue increased more than 20%; EPS on a GAAP basis grew 83%; EPS—excluding charges and credits—grew 67%; and pretax segment operating margin expanded 285 bps. I am very proud of these exceptional results delivered by the Schlumberger team as we approach the end of an outstanding year.

“As we close the year, we expect to deliver sequential revenue growth and margin expansion in the fourth quarter.

“To conclude, we have stronger conviction in our strategy and the opportunities across our three engines of growth—the Core, Digital, and New Energy. Constructive market fundamentals for oil and gas, energy security, and the urgency to accelerate the energy transition will support increased investment—in both clean energy technology development and lower carbon oil and gas production. We have positioned the company for long-term outperformance, with a diverse set of opportunities across the entire energy value chain. These technology-led opportunities cover oil and gas, industrial decarbonization, and new energy systems—all supported by digital transformation.

“Recent regulatory decisions and incentives reinforce our view of this compelling investment outlook and our strategic direction. We are prepared to apply our technology, global scale, and industrialization capabilities to lead in this energy landscape and deliver outstanding value for our customers and shareholders.

“I am truly excited about our future as we continue to drive innovation for a resilient and balanced energy system. I look forward to sharing at our upcoming Investor Conference, our views of the industry, revenue growth ambitions, earnings, and returns potential.”

Other Events

On August 30, 2022, Schlumberger, Aker Solutions, and Subsea 7 announced an agreement to form a joint venture to drive innovation and efficiency in subsea production to help customers unlock reserves and reduce cycle time. The agreement will bring together a portfolio of innovative technologies such as subsea gas compression, all-electric subsea production systems, and other electrification capabilities that help customers meet their decarbonization goals. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2023.

In October 2022, Schlumberger redeemed $895 million of its outstanding notes, consisting of $600 million of 2.65% Senior Notes and $295 million of 3.625% Senior Notes, both due 2022.

On October 20, 2022, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.175 per share of outstanding common stock, payable on January 12, 2023, to stockholders of record on December 7, 2022.

Revenue by Geographical Area

International

Revenue in Latin America of $1.5 billion increased 14% sequentially due to higher Well Construction revenue from increased drilling activity and improved pricing. Increased Production Systems sales in Brazil contributed to the sequential revenue growth. Year on year, revenue grew 30% due to higher drilling activity and increased pricing across the area. Increased stimulation and drilling activity in Argentina as well as higher Production Systems sales in Brazil also contributed to the year-on-year revenue growth.

Europe/CIS/Africa revenue of $2.0 billion increased 21% sequentially. This significant growth was driven by strong Well Construction activity and improved pricing across the area, higher Production Systems sales in Europe and Scandinavia, and multidivisional activity increases in Sub-Sahara Africa. Year on year, revenue grew 38%, from higher Production Systems sales in Europe and Scandinavia, increased Well Construction activity, and improved pricing.

Revenue in the Middle East & Asia of $2.3 billion increased 8% sequentially due to increased multidivisional activity across Asia and higher Reservoir Performance revenue in the Middle East. Year on year, revenue increased 15% due to increased multidivisional activity across Asia and higher activity from new projects in the Middle East—notably, increased drilling activity in Iraq and the United Arab Emirates and higher stimulation revenue in Oman.

North America

North America revenue of $1.5 billion was essentially flat sequentially as double-digit growth in US land revenue was offset by reduced exploration data sales in the US Gulf of Mexico due to the significant transfer fees recorded in the previous quarter. US land revenue growth outperformed the rig count increase sequentially due to higher drilling activity, increased sales of well and surface production systems, and improved pricing.

Compared to the same quarter last year, North America revenue grew 37%. All Divisions experienced significant year-on-year revenue growth, led by Well Construction and Production Systems, which grew 62% and 23%, respectively.

Third-Quarter Results by Division

Digital & Integration

Digital & Integration revenue of $900 million experienced a 6% sequential decline with a change in revenue mix compared to the previous quarter. Revenue grew internationally, driven by higher digital sales in the Middle East & Asia, Europe/CIS/Africa, and Latin America areas while revenue was lower in North America on lower exploration data sales.

Year on year, revenue growth of 11% was driven primarily by higher digital sales across all areas and higher Asset Performance Solutions (APS) project revenue, particularly in Canada.

Digital & Integration pretax operating margin of 34% contracted 586 bps sequentially and 119 bps year on year due to a less favorable revenue mix.

Reservoir Performance

Reservoir Performance revenue of $1.5 billion increased 9% sequentially primarily due to higher intervention and stimulation activity, both on land and offshore, particularly in the Middle East & Asia and Europe/CIS/Africa areas. North America growth was due to higher intervention activity in the US Gulf of Mexico.

Year on year, revenue growth of 22% was broad across all areas due to increased activity. The revenue growth was led by the Middle East & Asia area, which grew 30%. Intervention and stimulation services experienced double-digit growth, both on land and offshore.

Reservoir Performance pretax operating margin of 17% expanded 209 bps sequentially. Profitability was boosted by higher offshore and development activity, particularly in the North America, Middle East & Asia, and Latin America areas.

Year on year, pretax operating margin expanded 77 bps with profitability improving both in intervention and stimulation, and geographically in the North America and Europe/CIS/Africa areas.

Well Construction

Well Construction revenue of $3.1 billion increased 15% sequentially, outperforming global rig count growth due to strong activity from new projects and solid pricing improvements internationally, particularly in the Europe/CIS/Africa and Latin America areas. In North America, sequential revenue growth outpaced the rig count increase in both US land and offshore. Double-digit growth was pervasive across its measurement, drilling, fluids, and equipment business lines.

Year on year, revenue growth of 36% was driven by strong activity and solid pricing improvements, led by North America and Latin America, both of which grew more than 60%. Europe/CIS/Africa revenue increased 28% while Middle East & Asia revenue grew 16% year on year. High double-digit growth was recorded across the Division’s business lines led by drilling fluids and measurements—both on land and offshore.

Well Construction pretax operating margin of 22% expanded 403 bps sequentially, due to improved profitability in all business lines and across all areas, most prominently in Latin America. Margin expansion was due to higher offshore and exploration activity, favorable technology mix, and solid pricing improvements.

Year on year, pretax operating margin expanded 635 bps, with profitability improving across all areas, driven by higher activity and boosted by improved pricing.

Production Systems

Production Systems revenue of $2.2 billion increased 14% sequentially on higher product deliveries and backlog conversion—mostly offshore internationally as supply chain and logistics constraints continue to ease. The increase was driven by double-digit revenue growth across most business lines: in Europe/CIS/Africa on higher deliveries of subsea and well production systems; in Latin America due to higher sales of subsea and midstream production systems; in Middle East & Asia on higher sales of well, surface, and midstream production systems; and in North America, mainly in US land, on increased sales of well and surface production systems.

Year on year, double-digit growth was driven by new projects and increased product deliveries mainly in Europe/CIS/Africa, North America, and Latin America.

Production Systems pretax operating margin of 10% expanded 142 bps sequentially due to improved operating leverage from higher volume of sales.

Year on year, pretax operating margin was slightly higher by 55 bps as higher sales volume was partially offset by increased logistics costs and unfavorable revenue mix.

Quarterly Highlights

As the strong growth cycle in oil and gas advances, Schlumberger continues to secure new contracts in North America and internationally, particularly in the Middle East and in offshore basins. During the quarter, Schlumberger secured the following notable projects:

• In Norway, Equinor awarded Schlumberger a contract for work at up to 11 wells at their challenging, high-temperature Kristin Sor and Halten East fields. The integrated services contract includes electric wireline logging, drilling, measurements, and project management. Work is expected to start in late 2023 and continue until 2025.
• QatarEnergy has awarded Schlumberger a five-year wireline services contract. The contract covers open- and cased-hole wireline logging on land and offshore, as well as tubing-conveyed perforating and data processing and interpretation. Schlumberger technologies, including the 10,000-psi hydraulic frac packer, 3D far-field sonic service, Optiq* Schlumberger fiber-optic solutions, and Pulsar* multifunction spectroscopy service, will be deployed to evaluate new and existing wells in various projects and optimize the production and injection of such wells. Work is expected to start in the fourth quarter of 2022.
• Abu Dhabi National Oil Company (ADNOC) has awarded Schlumberger a five-year framework agreement for drilling-related services, valued at $482 million. With an optional two-year extension, the scope of the award covers drill bits, directional drilling, and logging-while-drilling services. Supporting ADNOC in its drive to improve efficiency while delivering the lowest cost, lowest carbon intensity barrels, Schlumberger will provide advanced directional drilling and logging services to achieve high-quality wellbores with proven trajectory control, for accurate drilling of extended-reach horizontal and complex directional wells.
• In Brazil, Petrobras awarded Schlumberger a contract for the latest-generation MaxFORTE* high-reliability electric submersible pump (ESP) system for the deepwater Jubarte Field. This award also includes a 10-year extension of in-country remote ESP surveillance, intervention, and domain expertise provided by Schlumberger. The first generations of the MaxFORTE ESP systems, developed for Petrobras’ subsea developments in the Campos Basin offshore Brazil, have so far delivered an excellent reliability above four years, despite dramatic pressure and temperature swings—while producing prolific volumes of heavy oil, emulsions, and gas. Run life of this duration is a result of stringent quality from manufacturing to installation, and the extended time between workovers for ESP replacement is a significant value for Petrobras.
• Also in Brazil, Enauta signed contracts with Schlumberger for the development of a holistic subsea production system in the Atlanta Field, Enauta’s main oil production asset in the Santos Basin. The award includes a range of subsea field-proven technologies, including a multiphase subsea boosting system and subsea trees. The agreement represents a robust solution that will integrate existing wells and support future development of the Atlanta Field.
• In Kazakhstan, Schlumberger was awarded a decarbonized production operations contract by Karachaganak Petroleum Operating B.V (KPO). The project will use technology that eliminates flaring—maximizing hydrocarbon monetization and avoiding an estimated 10,000 metric tons of CO₂e per well. The production scope of the three-year contract—which also includes wireline—covers well cleanup, production boosting, and well bleedoff packages, which will be delivered using the Production ExPRESS* rapid production response solutions. Schlumberger will use the CleanPhase* well test separator in combination with Transition Technologies*—including the REDA Multiphase HPS* horizontal multistage surface pump, and Vx Spectra* surface multiphase flowmeter—to deliver this project scope with zero flaring.
• In Canada, BP Canada Energy Group ULC (bp) has awarded Schlumberger an integrated well construction and evaluation contract for its Ephesus deepwater exploration well. The contract is scheduled to commence in 2023 and includes well construction and reservoir evaluation products and services.
• In the US, Schlumberger was awarded multiple scopes for an enhanced oil recovery pilot project by Denbury Onshore, LLC.

Investor Relations Contacts:
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
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Media Contacts:
Josh Byerly – Vice President of Communications, Schlumberger Limited
Moira Duff – Director of External Communications, Schlumberger Limited
Office +1 (713) 375-3407
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MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, leader in digital transformation of energy management and automation, announced it has recognized PC Corp, as a Certified Service Sales Partner (CSSP). The new partnership enables PC Corp to bring Schneider Electric services and expertise to clients in Alberta, the Canadian energy province.

Selina Mueller from Schneider Electric affirmed “At Schneider Electric, we will continue to increase our UPS and cooling service coverage in Alberta in a more effective and timely manner as PC Corp will help with growing our Schneider service offerings in Alberta.”

For over four decades, Alberta-based PC Corp has been providing the most robust solutions in the IT business, ensuring the growth of their clients and partners. During this time, evolving along with the industry, the company has developed three distinct areas of specialization. Today these include a powerful arm of Enterprise Procurement and Solution Services as well as Managed and Professional Services teams.

Isabel Bernete of PC Corp mentioned “Undoubtedly, Schneider Electric’s expertise enhances our market presence, expands our current service network and places us as the right partner to help our customers succeed with their IT and mission-critical projects.”

The announcement of this alliance reaffirms Schneider Electric’s commitment to offer the best services in the UPS & Cooling, Data Center & Networks, Building Solutions, and Electrical Power & Distribution segments in the country. PC Corp will act as our Certified Service Sales Partner who will assist with providing service solutions Schneider Electric has to offer. Although Schneider Electric had a previous working relationship with PC Corp on their single-phase business, they are looking forward to expanding the relationship to the services side.

About PC Corp

In 1982, on the heels of IBM entering the personal computer business with its now iconic ‘PC’ and the year the Internet was introduced, PC Corp opened its doors. “Making I.T. Easy” continues to be our battle cry as we continue to help organizations save money, improve efficiencies, and enhance collaboration.

https://www.pccorp.com

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for sustainability and efficiency. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared meaningful purpose, inclusive and empowered values.

https://www.se.com/ca/en/

Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero
Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that the board of directors of its general partner declared a quarterly cash distribution of $0.50 per unit for the third quarter of 2022. This distribution is in line with the prior quarter’s distribution and is consistent with the partnership’s previously disclosed annualized regular quarterly distribution (“Base Distribution”) target of $2.00 per unit. WES’s third-quarter 2022 distribution is payable November 14, 2022, to unitholders of record at the close of business on October 31, 2022.

The Partnership plans to report its third-quarter 2022 results after market close on Wednesday, November 2, 2022. Management will host a conference call on Thursday, November 3, 2022, at 1 p.m. CDT (2 p.m. EDT) to discuss the Partnership’s quarterly results. The full text of the release announcing the results will be available on the Partnership’s website at www.westernmidstream.com.

Third-Quarter 2022 Results
Thursday, November 3, 2022
1 p.m. CDT (2 p.m. EDT)
Dial-in number: 888-330-2354
International dial-in number: 240-789-2706
Participant access code: 32054

To participate in WES’s scheduled third-quarter 2022 earnings call, refer to the above-listed dial-in number and participant access code. To access the live audio webcast of the conference call, please visit the investor relations section of the Partnership’s website at www.westernmidstream.com. A replay of the conference call also will be available on the website following the call.

ABOUT WESTERN MIDSTREAM

Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.

For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.com.

This news release contains forward-looking statements. WES and its general partner believe that their expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. These factors include our ability to meet distribution expectations and financial guidance; our ability to safely and efficiently operate WES’s assets; the supply of, demand for, and price of oil, natural gas, NGLs, and related products or services; our ability to meet projected in-service dates for capital-growth projects; construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures; and the other factors described in the “Risk Factors” section of WES’s most-recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission and other public filings and press releases. WES undertakes no obligation to publicly update or revise any forward-looking statements.

Note regarding Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Midstream Partners, LP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Midstream Partners, LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Daniel Jenkins
Director, Investor Relations
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832.636.1009

Shelby Keltner
Manager, Investor Relations
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832.636.1009

Planned Meetings through November also listed

HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority will hold its regular monthly meeting on Thursday, October 27, 2022. It will be conducted as a hybrid meeting starting at 9:15 a.m. A quorum of the Port Commission, along with executive leadership and legal counsel, will be present in the boardroom of the Port Authority Executive Office Building, located at 111 East Loop North, Houston, TX 77029.

The meeting is open to the public to attend in person, and the meeting can also be accessed virtually via WebEx webinar.

The agenda and the instructions to access Port Houston public meetings are available at https://porthouston.com/leadership/public-meetings/.

Please note the following upcoming Port Houston public meetings (subject to change):

Sign up for public comment is available up to an hour before these meetings by contacting Erik Eriksson at This email address is being protected from spambots. You need JavaScript enabled to view it. or Liana Christian at This email address is being protected from spambots. You need JavaScript enabled to view it.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel – the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. nation. The more than 200 private and eight public terminals along the federal waterway supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6% of Texas’ total gross domestic product (GDP) – and a total of $801.9 billion in economic impact across the nation. For more information, visit the website: https://porthouston.com/

Lisa Ashley, Director, Media Relations, Port Houston
Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Capstone Is Focused on Growing the EaaS Rental Fleet to 50 MW, Using a Portion of the Proceeds From the August $8.0 Million Underwritten Public Offering

LOS ANGELES--(BUSINESS WIRE)--$CGRN #Biogas--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, continues to grow in the Energy as a Service (EaaS) market with a new two-year rental for an industrial grow operation. The contract was secured by Capstone Engineered Solutions, a new National Account focused on engineering, procurement, and construction (EPC) of projects exclusively using Capstone Green Energy products.

"The latest 600 kW rental in the industrial grow house market further diversifies the rental fleet's customer base within a market we expect strong future growth. The rental program truly allows Capstone's premium product to provide clean and reliable power ‘when and where you need it’ by reducing costs from capital budgets and eliminating competing priorities for cash. Additionally, the inclusion of all service costs within the fixed monthly rental rates makes customers less familiar with self-generation comfortable with this cost saving green technology," said Marc Rouse, Director of Sales at Capstone Green Energy.

"Capstone is seeing strong customer demand across industries for its EaaS long-term rental services, which had 7 MW under contract in March 2021, 26 MW under contract in March 2022, and 34 MW under contract at the end of July," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "The benefit of our low life cycle costs allows us to be extremely competitive in the EaaS market compared to selling equipment where customers do not always take into account the future life cycle and maintenance cost."

"The successful closing of our $8 million underwritten public offering combined with sourcing additional re-rent units allows us to continue to focus on achieving our previously announced next target of a 50 MW rental fleet, including re-rentals," concluded Jamison.

About Capstone Green Energy

Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.

To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's target for growth of its rental fleet and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the sufficiency of the Company's working capital to meet its rental fleet growth target; the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE:GWH), a leading manufacturer of long-duration iron flow batteries for commercial and utility-scale energy storage applications, announced today that it will hold a conference call on Thursday, November 3, 2022 at 5:00 p.m. EDT to discuss financial results for its third quarter 2022 ended September 30, 2022.

The news release announcing the third quarter 2022 financial results will be disseminated on November 3, 2022 after the market closes.

Interested parties may join the conference call beginning at 5:00 p.m. EDT on Thursday, November 3, 2022 via telephone by calling (833) 927-1758 in the U.S., or for international callers, by calling +1 (929) 526-1599 and entering conference ID 121282. A telephone replay will be available until November 10, 2022, by dialing (866) 813-9403 in the U.S., or for international callers, +44 (204) 525-0658 with conference ID 024057. A live webcast of the conference call will be available on ESS’ Investor Relations website at http://investors.essinc.com/.

A replay of the call will be available via the web at http://investors.essinc.com/.

About ESS, Inc.

ESS Inc. (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long- duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information, visit www.essinc.com.

Investors:
Erik Bylin
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Media:
Morgan Pitts
503.568.0755
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DUBLIN--(BUSINESS WIRE)--The "Chemical Enhanced Oil Recovery (EOR / IOR) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Chemical Enhanced Oil Recovery (EOR / IOR) Market to Reach $1.1 Billion by 2027

Amid the COVID-19 crisis, global market for Chemical Enhanced Oil Recovery (EOR / IOR) estimated at US$776 Million in the year 2020, is projected to reach a revised size of US$1.14 Billion by 2027, growing at a CAGR of 4.9% over the period 2020-2027.

Polymer Flooding, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$593 Million by the end of the analysis period.

The U.S. Market is Estimated at $48.8 Million, While China is Forecast to Grow at 6.5% CAGR Chemical Enhanced Oil Recovery (EOR / IOR) market in the U.S. is estimated at US$48.8 Million in the year 2020 and is forecast to reach more than US$60 Million by the end of the analysis period.

China is forecast to reach a projected market size of more than US$500 Million by the year 2027 trailing a CAGR of 6.5% over the period 2020-2027. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 4.5% and 4.4% respectively over the analysis period.

What's New for 2022?

• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to a digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of COVID-19 Pandemic on Oil and Gas Producers in Developing Countries
• Competitive Market Presence - Strong/Active/Niche/Trivial for 69 Players Worldwide in 2022 (E)
• Enhanced Oil Recovery (EOR): Critical for Unlocking the Potential of Unrecoverable Oil Reserves
• Types of EOR Techniques
• Chemical Enhanced Oil Recovery (cEOR): A Highly Effective EOR Method
• Global Market Prospects & Outlook
• Competition
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS (Total 69 Featured)

• BASF SE
• Beijing Hengju Chemical Group Corp
• ChampionX
• Chevron Phillips Chemical Company LLC
• Clariant AG
• Halliburton Company
• Huntsman Corporation
• Kemira Oyj
• Oil Chem Technologies LLC
• Sasol Limited
• Shell Chemicals
• SNF
• The Dow Chemical Company

3. MARKET TRENDS & DRIVERS

• Energy Demand and the Need to Increase Crude Oil Production: A Significant Opportunity for Chemical EOR Market
• Oil and Gas Companies Set to Adjust Spending in Near Term
• Rise in Number of Mature Oil Fields Augurs Well for the EOR Chemicals Market
• A Glance at Select Chemical EOR Projects Worldwide
• With Renewables Unable to Meet Energy Needs, Sustained Demand for Fossil Fuels to Accelerate Market Growth
• Market to Benefit from the Trend towards Exploration of Unconventional Resources & Deep Drilling Projects
• Polymer Flooding: The Primary cEOR Method
• Polyacrylamide (PAM) for Seamless Processing of Subsurface Applications
• New Polymers Come to Fore in cEOR Applications
• Bio-based Polymer Materials Gain Traction
• Magnetic Nanoparticles (MNPs) Effective in Contaminant Removal in Polymer Flooding Process
• TRF Technique to Detect Residual Polymers in Water On-Site
• Alkaline Flooding Solutions Continue to Find Demand
• Consistent Demand for Surfactant Flooding Solutions
• Alkaline-Surfactant-Polymer Flooding: Popular Combination Flooding Method
• Microbial Enhanced Oil Recovery: An Eco-Friendly Alternative to Petro-based EOR Chemicals
• MEOR Technology Developments in China: An Overview
• Microbial Enhanced Oil Recovery (MEOR) Field Tests in China: Percentage Breakdown of Number of Field Tests by Type
• Worldwide Microbial Enhanced Oil Recovery (MEOR) Field Tests: Percentage Breakdown of Number of Field Tests by Type
• Rising Prominence of Hybrid Materials in Chemical EOR Methods
• Companies Focus on Innovative Chemicals to Maximize Oil Recovery
• Green Nanoparticles for EOR Processes
• Green Surfactants Drive Advancements in Enhanced Oil Recovery (EOR) Techniques
• Types and Uses of Surfactants in CEOR
• Green Surfactants Emerge as Eco-Friendly Alternatives
• Lignin Black Liquor As Sacrificial Agent in Enhanced Oil Recovery Process
• Chemical EOR: A Potential Solution for Cleaner and More Energy
• Impact of Chemical EOR on Thin Oil Rim Reservoirs
• Oil Price Volatility Impacts Chemical EOR Market

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/s8owdp

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today that the board of directors of its general partner has declared the partnership’s quarterly cash distribution of $0.655 per limited partner unit ($2.620 annually) for the quarter ended September 30, 2022, which is flat quarter-over-quarter. In addition, Crestwood announced a quarterly cash distribution of $0.2111 per Class A preferred equity unit ($0.8444 annually). Both common and preferred distributions will be made on November 14, 2022, to unitholders of record as of November 7, 2022.

Crestwood plans to report financial results for the third quarter 2022 on Wednesday, November 2, 2022, before the New York Stock Exchange opens for trading. Following the announcement, management will host a conference call for investors and analysts at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) that day to discuss the operating and financial results. Crestwood will provide an update on its operations and financial strategy at that time. The call will be broadcast live over the internet via audio webcast. Investors will be able to connect to the webcast via the “Investors” page of Crestwood’s website at www.crestwoodlp.com. Please log in at least ten minutes in advance to register and download any necessary software. A replay will be available shortly after the call for 90 days.

Forward-Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.

Tax Notice to Foreign Investors

This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of Crestwood’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Crestwood’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Crestwood, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.

Crestwood Equity Partners LP
Investor Contacts

Andrew Thorington, 713-380-3028
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Vice President, Finance and Investor Relations

Rhianna Disch, 713-380-3006
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Director, Investor Relations

Sustainability and Media Contact

Joanne Howard, 832-519-2211
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Senior Vice President, Sustainability and Corporate Communications

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) today announced that it will report financial results for the third quarter of 2022 before the opening of the New York Stock Exchange on Monday, November 14, 2022. The earnings release will be followed by a conference call for investors at 8:30 AM Eastern Time the same day.

The call will feature prepared remarks from Gregg Felton, Co-Chief Executive Officer and Dustin Weber, Chief Financial Officer. The prepared remarks will be followed by a question and answer session which will also include Lars Norell, Co-Chief Executive Officer of Altus Power.

The conference call may be accessed via live webcast on a listen-only basis on the Events & Presentations page of the Investor section of Altus Power’s website at https://investors.altuspower.com/overview/default.aspx.

A replay of the webcast will be available shortly after the call on the Investor section of Altus Power’s website and by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671. The passcode for the replay is 13733858. The replay will remain available for approximately 30 days.

About Altus Power, Inc.

Altus Power, based in Stamford, Connecticut, is the premier commercial-scale clean electrification company, serving commercial, industrial, public sector and community solar customers with an end-to-end solution. Altus Power originates, develops, owns and operates locally sited solar generation, energy storage, and EV charging infrastructure across the nation, from Vermont to Hawaii. Visit www.altuspower.com to learn more.

Altus Power
Chris Shelton, Head of Investor Relations
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Continuing Steady Trend in Rental Contracts for Nodal Seabed Surveys

HOUSTON--(BUSINESS WIRE)--#energyexploration--Geospace Technologies Corporation (NASDAQ: GEOS) today announced an extended duration rental contract with an international marine geophysical services provider who will rent OBX deep water ocean bottom wireless seismic data acquisition nodes. Based on current contract terms, the value of the agreement is estimated at $7.3 million.

“This most recent announcement continues the steady series of secured rental contracts utilizing our OBX for high resolution ocean bottom nodal surveys. It’s clear that our product quality, reliability, and availability are well aligned to take advantage of current market conditions. We are privileged to be a chosen participant in the high value services our trusted customer provides to its clients,” said Walter R. Wheeler, President and CEO, Geospace Technologies.

Additionally, in response to increased demand for the information afforded by ocean bottom surveys, Geospace recently announced a new ocean bottom node for shallow water surveys known as Mariner. This new product will be highly affordable, both in its initial cost as well as its savings over the lifetime of ownership by way of improved logistics, operations, maintenance, and repair. To learn more about Geospace’s marine exploration products, visit https://www.geospace.com/products/marine-exploration/.

About Geospace Technologies

Geospace principally designs and manufactures seismic instruments and equipment. The company markets seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. The company also markets seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. Geospace designs and manufactures other products of a non-seismic nature, including smart water connectivity tools, imaging equipment and specialty contract manufactured products.

Caroline Kempf, This email address is being protected from spambots. You need JavaScript enabled to view it., 321.341.9305

DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Pipes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Oil and Gas Pipes Market to Reach $10.8 Billion by 2027

The global market for Oil and Gas Pipes estimated at US$7.7 Billion in the year 2020, is projected to reach a revised size of US$10.8 Billion by 2027, growing at a CAGR of 4.9% over the period 2020-2027.

Stainless Steel, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$4.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the HDPE segment is readjusted to a revised 4.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 8% CAGR

The Oil and Gas Pipes market in the U.S. is estimated at US$2.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2027 trailing a CAGR of 8.1% over the period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2027.

PVC Segment to Record 4.4% CAGR

In the global PVC segment, USA, Canada, Japan, China and Europe will drive the 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.7% CAGR through the analysis period.

What's New for 2022?

• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to a digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Pipeline Infrastructure Remains a Crucial Part of Global Energy Infrastructure
• Impact of Covid-19 and a Looming Global Recession
• Living with COVID-19 is the New Normal
• Recession Looms Large With the War & Threat of Stagflation Posing Significant Downside Risks for the Global Economy in 2022 & 2023
• Oil & Gas Sector Posts Strong Recovery After a Significant Downturn
• Implications of Russia-Ukraine Conflict on Oil & Gas Industry
• The Conflict Impacts Natural Gas Imports to Europe
• Europe to Focus on Diverse Supply Routes & Renewable Energy
• Inflated Oil Prices Drive Global Capital Expenditure
• Oil & Gas Industry Increases Focus on Energy Transitions
• COVID-19 Leads Shift Away from Fossils
• Myriad Benefits of Pipeline Transportation Drive Widespread Deployments
• A Review of Global Oil & Gas Pipeline Activity
• A Glance at Select Major Oil and Gas Pipelines Worldwide
• Impact of Russia-Ukraine Conflict on Oil & Gas Pipelines
• Implications of Russia-Ukraine Conflict on Kazak's Pipelines & Energy Industry
• Uncertain Future for Nord Stream 2 Gas Pipeline Project
• The Glitches & Uncertainty
• Global Market Outlook
• Regional Developments Influencing the Market
• US at Crossroads of Fossil Energy
• Europe: Growth despite Stronger Stance to Oppose Pipelines
• Africa & Middle East: Pipeline Projects Mired Under Uncertainty
• Key Challenges Hindering Oil & Gas Pipeline Projects
• Recent Market Activity
• World Brands

2. FOCUS ON SELECT PLAYERS (Total 73 Featured)

• Aliaxis Group SA/NV
• American Cast Iron Pipe Company
• ArcelorMittal
• China Steel Corporation
• JFE Holdings, Inc.
• JSW Steel Ltd.
• Metalurgica Gerdau SA
• Mexichem SAB De CV
• Tenaris SA
• Valourec S.A.

3. MARKET TRENDS & DRIVERS

• Growing Focus on the Environmental Benefits of Piped Energy Transport to Benefit Demand for Eco-Friendly Pipes
• Rise of Pipelines as an Environmentally Friendly Mode of Energy Transport, Amid Growing Clamor for Sustainability, to Positively Impact Demand Dynamics for Pipes
• Advancements in Material Grade Benefit Growth of Plastic Pipes
• Plastic Pipes Gain Increasing Acceptance in Natural Gas Transport
• Polyethylene: The Preferred Choice in Gas Distribution Pipeline
• Demand for Natural Gas on the Rise, Bodes Well for Pipeline Market
• An Insight into Natural Gas Market Dynamics
• Urgency to Shake Off Dependence on Russia Oil & Gas Resurrects Pipeline Projects in Europe & Rest of World
• New Oil & Gas Supply Projects & Strategies Augur Well for Steel Pipes
• Rise in Drilling & Well Construction Activity Bodes Well for Market Growth
• Unconventional Oil & Gas Resources Trigger Demand for High Grade OCTG Products
• Deep Water Drilling Widens Opportunities
• Deepwater Projects to Attract Increased Investment in 2022
• Five New Deepwater Discoveries in the Gulf of Mexico Announced by Operators
• Deepwater Activity in the US Gulf of Mexico to Increase
• Replacement of Aging Gas Pipelines Offers Strong Growth Potential
• Technological Developments Lead to Safe and Efficient Pipelines
• Artificial Intelligence (AI) Finds Increasing Uptake
• IoT & Edge Computing
• Digital Twins & Digital Modeling
• Drones for Automated Inspection
• Blockchain & Augmented Reality
• Quantum Computing
• Coating Innovations Result in Increased Efficiency
• Growing Demand for Innovative and Advanced Pipeline Solutions for Improving Operating Efficiencies Spearhead Market Growth
• Need to Minimize Integrity Deterring Issues in Pipeline Operations Drive Demand for Integrity Management Solutions
• Integrity Threats to Pipeline Networks: An Overview
• Corrosion Prevention Remains High Priority Area in Pipeline Integrity Management
• Pipeline Leak Management for End-to-End Integrity Management
• Acoustic Leak Detection Emerge as a Viable Pipeline Leak Detection Platform
• Strain Gauging Sensors for Monitoring Pipeline Integrity
• Cloud-based Software Solutions: The New ICT Frontier for Pipeline Operators
• On-Premises Vs. Cloud-based Software: A Cost Comparison Analysis

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/j8t0b0

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the third quarter of 2022. The distribution will be paid on November 11, 2022 to unitholders of record on October 31, 2022.

HEP plans to announce results for its third quarter of 2022 on November 7, 2022 before the opening of trading on the NYSE and has scheduled a webcast conference on November 7, 2022 at 8:30 a.m. Eastern time to discuss financial results.

The webcast may be accessed at:
https://events.q4inc.com/attendee/908108663

About Holly Energy Partners, L.P.:

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.

This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of HEP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, HEP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Forward Looking Statements:

This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in our filings with the Securities and Exchange Commission (the “SEC”). Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to:

• HF Sinclair’s and HEP’s ability to successfully integrate the Sinclair Oil Corporation (now known as Sinclair Oil LLC) and Sinclair Transportation Company LLC businesses acquired from The Sinclair Companies (now known as REH Company) (collectively, the “Sinclair Transactions”), with its existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline;
• the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand and increasing societal expectations that companies address climate change;
• risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored or throughput in our terminals and refinery processing units;
• the economic viability of HF Sinclair, our other customers and our joint ventures’ other customers, including any refusal or inability of our or our joint ventures’ customers or counterparties to perform their obligations under their contracts;
• the demand for refined petroleum products in the markets we serve;
• our ability to purchase and integrate future acquired operations;
• our ability to complete previously announced or contemplated acquisitions;
• the availability and cost of additional debt and equity financing;
• the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipelines, terminal facilities and refinery processing units, due to reasons such as infection in the workforce, in response to reductions in demand, accidents, unexpected leaks or spills, unscheduled shutdowns, weather events, civil unrest, expropriation of assets, and other economic, diplomatic, legislative, or political events or developments, terrorism, cyberattacks, or other catastrophes or disruptions affecting our operations, terminal facilities, machinery, pipelines and other logistics assets, equipment, or information systems, or any of the foregoing of our suppliers, customers, or third-party service providers or lower gross margins due to the economic impact of the COVID-19 pandemic, inflation and labor costs, and any potential asset impairments resulting from such actions;
• the effects of current and future government regulations and policies, including the effects of current and future restrictions on various commercial and economic activities in response to the COVID-19 pandemic and increases in interest rates;
• delay by government authorities in issuing permits necessary for our business or our capital projects;
• our and our joint venture partners' ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects;
• the possibility of terrorist or cyberattacks and the consequences of any such attacks;
• uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for refined products and create instability in the financial markets that could restrict our ability to raise capital;
• general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States;
• the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; and
• other financial, operational and legal risks and uncertainties detailed from time to time in our SEC filings.

The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Manager, Investor Relations

HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $16,272,132.13 or $0.349121 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of August 2022. The distribution is payable November 15, 2022, to the Unit Holders of record as of October 31, 2022.

For the production month of August 2022, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, “Hilcorp”), reported to the Trust net profits of $21,815,782 ($16,361,837 net royalty amount to the Trust).

Hilcorp reported $26,014,687 of total revenue from the Subject Interests for the production month of August 2022, consisting of $15,653,743 of gas revenues, $282,139 of oil revenues, $10,057,015 of other revenue and interest related to adjustments associated with Hilcorp process reviews and $21,790 of additional interest related to prior month’s granted audit exceptions. For the Subject Interests, Hilcorp reported $4,198,905 of production costs for the production month of August 2022, consisting of $2,088,259 of lease operating expense, $1,823,465 of severance taxes and $287,180 of capital costs.

Based upon the information that Hilcorp provided to the Trust, gas volumes for the Subject Interests for August 2022 totaled 2,076,429 Mcf (2,307,144 MMBtu), as compared to 1,987,430 Mcf (2,208,256 MMBtu) for July 2022. Dividing gas revenues by production volume yielded an average gas price for August 2022 of $7.54 per Mcf ($6.78 per MMBtu), as compared to an average gas price for July 2022 of $5.35 per Mcf ($4.82 per MMBtu).

Production from the Subject Interests continues to be gathered, processed, and sold under market sensitive and customary agreements, as recommended for approval by the Trust’s Consultant. The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit payments made by Hilcorp to the Trust, inclusive of sales revenues, production costs, capital expenditures, adjustments, actualizations, and recoupments. The Trust’s auditing process has also included detailed analysis of Hilcorp’s pricing and rates charged. As previously disclosed in the Trust’s filings, these revenues and costs (along with all costs) are the subject of the Trust’s ongoing comprehensive audit process by our professional consultants and outside counsel to ensure full compliance with all the underlying operative Trust agreements and evaluating all available potential remedies in the event there is evidence of non-compliance.

Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.

San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Ross Durr, RPL, Senior Vice President & Mineral Interest Director
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553

HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1235 per unit for the third quarter of 2022 ($0.494 per unit on an annualized basis), the same amount as distributed in the prior quarter. The distribution is payable on November 14, 2022, to unitholders of record at the close of business on November 2, 2022.

Third Quarter 2022 Earnings Release Date and Conference Call Information

The Partnership plans to report third quarter 2022 financial and operating results after market close on Tuesday, November 1, 2022. The Partnership will host a conference call and webcast regarding third quarter 2022 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Wednesday, November 2, 2022.

To listen live over the Internet, participants are advised to log on to the Partnership’s website at www.usdpartners.com and select the “Events & Presentations” sub-tab under the “Investors” tab. To join via telephone, participants may dial (800) 445-7795 domestically or +1 (203) 518-9814 internationally, conference ID 9104568. Participants are advised to dial in at least five minutes prior to the call.

An audio replay of the conference call will be available for thirty days by dialing (800) 839-5103 domestically or +1 (402) 220-2687 internationally, conference ID 9104568. In addition, a replay of the audio webcast will be available by accessing the Partnership's website after the call is concluded.

About USD Partners LP

USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies and refiners. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.

USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USD’s solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USD is currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.

Qualified Notice to Nominees

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to the amount and timing of the Partnership’s third quarter 2022 cash distribution and the business prospects of the Partnership and USD. Words and phrases such as “plans,” “expects,” “will,” “pursuing,” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests, USD’s projects and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. The current economic downturn (including the effects of the ongoing situation in Ukraine and its regional and global ramifications) and pandemic introduces unusual risks and an inability to predict all risks that may impact the Partnership’s business and outlook. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include those as set forth under the heading “Risk Factors” in the Partnership’s most recent Annual Report on Form 10-K and in its subsequent filings with the Securities and Exchange Commission. The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Category: Earnings

Investor Relations Contacts:
Adam Altsuler, (281) 291-3995
Executive Vice President and Chief Financial Officer

Jennifer Waller, (832) 991-8383
Senior Director, Financial Reporting and Investor Relations

Massachusetts State Senator, State Representative, and Policymakers meet with Advent executives at the Company’s new Hood Park facility to discuss the key role of fuel cells in driving forward the clean energy transition

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, today announced that on Friday, October 14, 2022, it hosted elected officials and policymakers from Massachusetts at its new R&D and manufacturing facility at the Hood Park campus in Charlestown, Massachusetts.

State Senator Sal DiDomenico, State Representative Danny Ryan, Regional Director at the Massachusetts Office of Business Development Sue Whitaker, and, Greater Boston Market Maker from Commonwealth Corporation Mark Wigfall were welcomed to the Hood Park campus by senior Advent executives, including Advent’s Executive Chairman of the Board and CEO Dr. Vasilis Gregoriou, CTO Dr. Emory De Castro, COO and General Counsel Jim Coffey, Vice President of Business Development Warren Brower and Facilities and Operations Manager Rich Nelson.

The visit started with a walking tour of Advent’s new state-of-the-art facility, located at the heart of one of Boston’s latest innovation and R&D communities in Charlestown. Hood Park is expected to be operational in December 2022 and will primarily focus on the development and production of Advent’s next-generation fuel cell components, allowing the Company to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy sector.

One of the products to be manufactured within the Hood Park facility is the next-generation Membrane Electrode Assembly (“Advent MEA”), which is currently being developed within the framework of L’Innovator, the Company’s joint development program with the U.S. Department of Energy’s Los Alamos National Laboratory (LANL), Brookhaven National Laboratory (BNL), and National Renewable Energy Laboratory (NREL). MEAs form the heart of the fuel cell, and their performance determines the lifetime, efficiency, weight, and to a large extent the cost of the downstream electrochemistry products. Advent intends that both its own products such as SereneU, Honey Badger 50™, MZERØ and third party products will be able to use the new Advent MEAs in mass production from 2024, according to the Company’s growth plan.

The visit of Massachusetts elected officials and policymakers to the Hood Park campus continued with a presentation of Advent’s wide range of fuel cell products and future plans. Advent executives had the opportunity to highlight the unique competitive advantages of the Company’s proprietary High-Temperature Proton Exchange Membrane (HT-PEM) technology – which can support multiple fuels, efuels, and low-grade hydrogen on board and operate under extreme conditions (-38°C to +50°C) – and share details regarding Advent’s current projects in the U.S., highlighting the Company’s potential involvement in the development of a proposal for a U.S. Northeast Clean Hydrogen Hub.

The Massachusetts clean energy sector has experienced significant growth over the past years, and the state continues to pursue innovative measures to ensure grid modernization, storage, and alternative transportation. In March 2021, Governor Baker signed into law An Act Creating a Next-Generation Roadmap for Massachusetts Climate Policy, putting the Commonwealth on a pathway to achieve net-zero greenhouse gas emissions by 2050. According to Massachusetts Clean Energy Center’s 2021 Industry Report, the Massachusetts clean energy industry saw 68% jobs growth since 2010, counting approximately 101,208 clean energy workers. Furthermore, according to the American Council for an Energy-Efficient Economy’s 2020 State Energy Efficiency Scorecard, in 2020, Massachusetts ranked second in energy efficiency across the U.S.

Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, stated: “We would like to extend our gratitude to State Senator DiDomenico, State Representative Ryan, Ms. Whitaker, and Mr. Wigfall for taking the time to visit our new Charlestown facility. With the grand opening of Hood Park fast approaching, this meeting was an excellent opportunity to showcase how this new facility is expected to unlock significant market opportunities for Advent across the U.S. and create numerous job opportunities for young Material Scientists and Fuel Cell Engineers based in Massachusetts. The Advent team looks forward to contributing greatly to Massachusetts’ ambitious goal of achieving net-zero greenhouse gas emissions by 2050 through constantly innovating, with a focus on sustainability and energy efficiency.”

Dr. Emory De Castro, Advent’s Chief Technology Officer, added: “We were deeply honored to host Massachusetts elected officials and policymakers to our new Hood Park facility and provide them with an overview of Advent’s manufacturing scale-up plans and growth path. As a proud Boston-based Company, we selected Massachusetts and Hood Park due to the close proximity to top research universities and access to a wide pool of intellectual talent. Hood Park will play a key role in further strengthening our efforts to help the world decarbonize quickly by enabling Advent to scale-up the manufacturing of next-generation electrochemistry components, which are expected to revolutionize the fuel cell industry.”

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
Elisabeth Maragoula / Michael Trontzos
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HOUSTON--(BUSINESS WIRE)--VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the quarterly payment period ended September 30, 2022.

Unitholders of record on October 31, 2022 will receive a distribution amounting to $6,205,000 or $0.365 per unit, payable November 14, 2022.

Volumes, average sales prices and net profits for the payment period were:

As previously disclosed, in November 2021, the Trustee notified VOC Brazos Energy Partners, L.P. (“VOC Brazos”) that the Trustee intends to build a reserve for the payment of future known, anticipated or contingent expenses or liabilities, commencing with the distribution payable in the first quarter of 2022. The Trustee intends to withhold a portion of the proceeds otherwise available for distribution each quarter to gradually build a cash reserve to approximately $1.175 million. This amount is in addition to the letter of credit in the amount of $1.7 million provided to the Trustee by VOC Partners to protect the Trust against the risk that it does not have sufficient cash to pay future expenses. The Trustee may increase or decrease the targeted amount at any time and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the Trust Agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold $356,470 from the proceeds otherwise available for distribution this quarter, for a total amount of $943,970 withheld to date.

This press release contains forward-looking statements. Although VOC Brazos has advised the Trust that VOC Brazos believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended September 30, 2022. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
(713) 483-6020