DENVERDENVER--(BUSINESS WIRE)--Liberty Energy Inc., formerly known as Liberty Oilfield Services Inc., (NYSE: LBRT; “Liberty” or the “Company”) announced today second quarter 2022 financial and operational results.

Summary Results and Highlights

• Revenue of $943 million, increased 19% sequentially and 62% year-over-year

• Net income¹ was $105 million, or $0.55 fully diluted earnings per share

• Adjusted EBITDA² of $196 million

• Reinstated return of capital program with share repurchase authorization of up to $250 million

• Growing strategic partnerships with key customers to maximize our long-term returns:
  • Multi-year agreements to deploy two additional Liberty digiFrac™ electric fleets in early 2023
  • Announced 2022 fleet reactivations at compelling economics to support core customers’ development plans, while growing Liberty’s 2023 free cash flow generation

• Released 2022 Bettering Human Lives report, placing today’s global energy security crisis in proper context and showcasing Liberty’s leadership in clean energy technology innovation

• Announced investment in Fervo Energy, leveraging Liberty’s technologies and equipment to help enable next-generation low-carbon, reliable electricity from unconventional geothermal resources

“The second quarter was a busy and exciting time as the Liberty team continued to deliver differential quality services in today’s robust but operationally challenged environment. This translated into a notable milestone of fleet financial performance at levels that were last seen in 2018. The hard work and dedication of our employees combined with deep relationships with our partners across the value chain enabled us to achieve strong operational efficiency in an environment still impacted by supply chain challenges,” commented Chris Wright, Chief Executive Officer.

“Liberty’s first half of 2022 is starting to reveal the value creation from our 2021 acquisitions and insistence upon getting the business integrations done right, consistent with our focus on long-term results. We’ve positioned the company to deliver top-tier performance through cycles with a focus on free cash flow generation and maximizing returns. We’re driving cash flow expansion that allows us to fund compelling organic investments to grow our competitive advantage, while also returning cash to shareholders. Our 2022 capital expenditures will now include investment in two additional digiFrac fleets supported by attractive dedicated customer agreements, accelerating wet sand handling technology, and the reactivation of fleets with long-term customers, all of which will drive incremental future cash flow generation,” continued Mr. Wright. “Our strong financial results and a constructive outlook support the reinstatement of our return of capital program, beginning with a board-approved $250 million share buyback program. Our guiding principle is to maximize the value of a Liberty share. We believe the flexibility afforded by a share repurchase program gives us the ability to opportunistically act on a dislocated stock price, calibrated by market and business conditions.”

Outlook

While the global economic recovery outlook has softened on reverberating impacts from higher inflation, rising interest rates and the Russian invasion of Ukraine, oil and gas markets remain constructive. Eight years of underinvestment in upstream oil and gas production, exacerbated by inept global policy initiatives aimed at incentivizing an energy transition, has created a mismatch of supply and demand. Today, historically low global oil and gas inventories, limited OPEC spare production capacity and a dearth of refining capacity are colliding with increased energy demand. Oil and natural gas demand growth is coming from the post-pandemic recovery in travel, China’s emergence from its enforced Covid lockdowns, plus seasonal demand. These are all further magnified by the Russia/Ukraine conflict and the potential for sanctions imposed on Russian oil exports, coupled with Russia’s decision to constrain natural gas pipeline exports to Europe.

The greatest risk to our marketplace is a severe recession that leads to a drop in global demand for oil and natural gas. A moderate recession typically leads only to a slowing in the rate of demand growth for oil and natural gas, which would likely not be overly disruptive to our customers’ activity given today’s low inventory levels and tight supply and demand balances. The recovery in oil supply appears to be under greater threat than oil demand.

North America is positioned to be the largest provider of incremental oil and gas supply. Today, E&P operators are evaluating the opportunity to deploy incremental capital in North America to modestly grow production while remaining focused on shareholder priorities. The fundamental demand call on North American oil and gas supply is strong. Supply is restricted by a tight frac market, where equipment, supply chain and labor constraints limit frac fleet availability and service quality available to our customers. Many frac companies are struggling to execute in today’s environment. Moreover, operators desire ESG-friendly frac fleet technologies that provide the opportunity for both significant emissions reductions and large fuel savings. Liberty is uniquely positioned with the technology, scale, and vertical integration to meet demand for service quality and best-in-class technology.

The frac market is near full utilization, and few service providers have the fleet capacity and supply chain reach to satisfy E&P operators’ goals. Liberty was disciplined in restraining fleet reactivations in the post-Covid era of muted returns. Pricing has now recovered to where Liberty, in support of our customers’ long-term development needs, is reactivating several of our recently acquired, available fleets. Importantly, these long-term, dedicated customers seek additional next generation fleets that are not available today in the market, and Liberty is providing an avenue to serve those customers and simultaneously driving free cash flow from these existing fleets to reinvest in our fleet modernization program. Liberty is also partnering with key customers on the deployment of two additional digiFrac electric fleets in 2023. Demand is very strong for the technically superior design Liberty developed throughout the downturn that drives better safety and efficiency, a rare commodity in a tight market.

“A strong frac market and specific conversations with our customers gives us confidence in the demand for Liberty services into the coming year,” commented Mr. Wright. “In the third quarter, we expect approximately 10% sequential revenue growth, primarily driven by fleet reactivations and modest net pricing increases. Third quarter margins are expected to improve from the contribution of incremental fleets and modest price improvements, partially offset by ongoing supply chain, operational and inflationary pressures.”

“The increased free cash flow generation capability of our expanded business underscores the benefit of our countercyclical investment philosophy, highlighted by the contributions gained from the OneStim acquisition. Our strategy remains unchanged since our company was founded: delivering superior returns and generating free cash flow, by balancing disciplined investment with maintaining a strong balance sheet and returning capital to shareholders,” continued Mr. Wright.

Share Repurchase Program

Liberty’s Board of Directors authorized a share repurchase program that allows the company to repurchase up to $250 million of outstanding common stock beginning immediately and continuing through and including July 31, 2024. This represents approximately 10% of Liberty’s market capitalization based on the current share price. The open market share repurchase program is expected to commence during the third quarter of 2022.

The shares may be repurchased from time to time in open market transactions, through block trades, in privately negotiated transactions, through derivative transactions or by other means in accordance with federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management’s assessment of the intrinsic value of the Company’s common stock, the market price of the Company’s common stock, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal requirements, and other considerations. The exact number of shares to be repurchased by the Company is not guaranteed, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases by using cash on hand, borrowings under its revolving credit facility and expected free cash flow to be generated over the next two years.

Fervo Energy Investment

Liberty announced today a $10 million investment in Fervo Energy, a next generation geothermal energy technology company that develops geothermal assets for dispatchable (reliable) baseload grid power with low-carbon intensity. With this investment, Liberty expands into supporting geothermal resource development, leveraging its extensive expertise in subsurface engineering and its pressure pumping assets to help create dense underground networks to mine the earth’s heat for electricity production.

“We chose this investment opportunity because of our belief in the concept viability, the quality of Fervo’s team, and the size of the potential resource already captured. We will work in collaboration with Fervo to solve similar challenges that we have seen with the shale revolution,” commented Mr. Wright. “The investment in Fervo is a natural fit for Liberty in the rapidly evolving geothermal market. Our technical expertise in underground reservoir fluid flow and network fractures should help improve project economics and the scalability of geothermal as an energy source. Unconventional geothermal applications offer a potential pragmatic solution for a reliable source of low-carbon electricity, and we’re excited to be a part of the journey.”

2022 Bettering Human Lives Report

Liberty Energy has updated and expanded its Bettering Human Lives report. The report contains an in-depth look at the importance of oil and gas production in a global context, including its vital role in elevating people out of energy poverty and supplying the essential ingredients for modern living. The report is available on Liberty Energy’s website and provides Environmental, Social and Governance (ESG) data for 2021.

Second Quarter Results

For the second quarter of 2022, revenue grew to $943 million, an increase of 19% from $793 million in the first quarter of 2022 and 62% from $581 million in the second quarter of 2021.

Net income¹ (after taxes) totaled $105 million for the second quarter of 2022 compared to net loss¹ of $5 million in the first quarter of 2022 and net loss¹ of $51 million in the second quarter of 2021.

Adjusted EBITDA² of $196 million, increased 114% from $92 million in the first quarter of 2022 and 436% from $37 million in the second quarter of 2021. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fully diluted earnings per share was $0.55 for the second quarter of 2022 compared to fully diluted loss per share of $0.03 for the first quarter of 2022 and fully diluted loss per share of $0.29 for the second quarter of 2021.

Balance Sheet and Liquidity

As of June 30, 2022, Liberty had cash on hand of $41 million, an increase from first quarter levels as working capital increased, and total debt of $254 million including $150 million drawn on the secured asset-based revolving credit facility (“ABL Facility”), net of deferred financing costs and original issue discount. The term loan requires only a 1% annual amortization of principal, paid quarterly. Total liquidity, including availability under the credit facility, was $240 million as of June 30, 2022.

In July 2022, Liberty amended its ABL Facility to provide for a $75 million increase in aggregate commitment to $425 million. Availability under the amended ABL Facility is subject to a borrowing base, supporting by receivables and inventory.

Conference Call

Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Tuesday, July 26, 2022. Presenting Liberty’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 8163181. The replay will be available until August 2, 2022.

About Liberty

Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it.

Non-GAAP Financial Measures

This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA and Pre-Tax Return on Capital Employed. We believe that the presentation of these non-GAAP financial and operational measures provides useful information about our financial performance and results of operations. We define Adjusted EBITDA as EBITDA adjusted to eliminate the effects of items such as non-cash stock based compensation, new fleet or new basin start-up costs, fleet lay-down costs, costs of asset acquisitions, gain or loss on the disposal of assets, bad debt reserves, transaction, severance, and other costs, the loss or gain on remeasurement of liability under our tax receivable agreements and other non-recurring expenses that management does not consider in assessing ongoing performance.

Our board of directors, management, investors, and lenders use EBITDA and Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation, depletion and amortization) and other items that impact the comparability of financial results from period to period. We present EBITDA and Adjusted EBITDA because we believe they provide useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. Non-GAAP financial and operational measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial and operational measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with U.S. GAAP. See the tables entitled Reconciliation and Calculation of Non-GAAP Financial and Operational Measures for a reconciliation or calculation of the non-GAAP financial or operational measures to the most directly comparable GAAP measure.

Forward-Looking and Cautionary Statements

The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein concerning, among other things, statements about our expected growth from recent acquisitions, expected performance, future operating results, oil and natural gas demand and prices and the outlook for the oil and gas industry, future global economic conditions, improvements in operating procedures and technology, our business strategy and the business strategies of our customers, the deployment of fleets in the future, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, return of capital to stockholders, business strategy and objectives for future operations, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. The outlook presented herein is subject to change by Liberty without notice and Liberty has no obligation to affirm or update such information, except as required by law. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this earnings release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in “Item 1A. Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC on February 22, 2022, in our Form 10-Q for the quarter ended March 31, 2022 as filed with the SEC on April 25, 2022 and in our other public filings with the SEC. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements.

Michael Stock
Chief Financial Officer
303-515-2851
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Company Marks Major Milestone with Final Phase of Its Move to Cypress, Advancing Plans for New Market Expansion, Enhanced Production Capabilities and Operational Efficiencies

CYPRESS, Calif.--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced the completion of the third and final phase of its relocation from Vernon, California to its new 215,000 sq. ft. manufacturing center and headquarters in Cypress, California.

The Company recently completed the transition of remaining testing labs and equipment from its Vernon site to the new facility, with a significant amount of advanced planning, engineering, logistics and permitting to land and connect equipment and minimize down time.

“The relocation of our labs and completion of our move marks a significant milestone for Romeo Power,” said Chief Executive Officer Susan Brennan. “With testing, engineering, design, quality, production, shipping and support services all in a single, state-of-the-art facility, we are well positioned for planned expansion into marine and industrial markets, improved operational efficiencies, and scaling of manufacturing and production.”

“Further, Cypress offers a great location for us because of its proximity to both Los Angeles and Orange County, a diverse workforce, and an established and thriving business corridor,” Brennan added.

Romeo’s Chief Operating Officer Anne Devine said the Company received a great deal of support from the City of Cypress, enabling them to move through the permitting process and complete the relocation on schedule and on budget.

“We are thrilled to have our entire team, equipment and processes under one roof,” Devine said. “Our new manufacturing operation will not only support growth, it will enhance throughput, quality and cost-effectiveness. With 24,000 square feet of office space dedicated to engineering, product management, quality and other support resources, and another 191,000 square feet of factory space dedicated to state-of-the-art automated module manufacturing, pack assembly and advanced testing laboratories, we can produce four times the capacity as compared to our previous location. We want to especially thank the City of Cypress for welcoming us to the business community here. We are very excited to be moved into our new home in Cypress.”

About Romeo Power, Inc.

Founded in 2016 and headquartered in Cypress, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, follow the Company on social media, @romeopowerinc or visit romeopower.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Source: Romeo Power Inc.

For Investors:
Joe Caminiti or Ashley Gruenberg
Alpha IR Group
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312-445-2870

HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” or “the Company”) today declared the distribution attributable to the second quarter of 2022. Additionally, the Partnership announced the date of its second quarter 2022 earnings call.

Common Distribution

The Board of Directors of the general partner has approved a cash distribution for common units attributable to the second quarter of 2022 of $0.42 per unit. This represents an increase of 5% over the common distribution paid with respect to the prior quarter and an increase of 68% over the common distribution paid with respect to the second quarter of 2021. Distributions will be payable on August 19, 2022 to unitholders of record on August 12, 2022.

Earnings Conference Call

The Partnership is scheduled to release details regarding its results for the second quarter 2022 after the close of trading on August 1, 2022. A conference call to discuss these results is scheduled for August 2, 2022 at 9:00 a.m. Central time (10:00 a.m. Eastern time). The conference call will be broadcast live in listen-only mode on the Company’s investor relations website at www.blackstoneminerals.com. If you would like to ask a question, the dial-in number for the conference call is (888) 672-2415 for domestic participants and (646) 307-1952 for international participants. The conference ID for the call is 2386291. Call participants are advised to call in 10 minutes in advance of the call start time.

A replay of the conference call will be available approximately two hours after the call through a link on the Company’s investor relations website.

About Black Stone Minerals, L.P.

Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Company owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable to growing production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders.

Information for Non-U.S. Investors

This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Although a portion of Black Stone Minerals’ income may not be effectively connected income and may be subject to alternative withholding procedures, brokers and nominees should treat 100% of Black Stone Minerals’ distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Black Stone Minerals’ distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate, currently 37.0% for individuals.

Black Stone Minerals, L.P. Contacts
Jeff Wood
President and Chief Financial Officer

Evan Kiefer
Vice President, Finance and Investor Relations
Telephone: (713) 445-3200
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FRANKFURT, Germany--(BUSINESS WIRE)--The economic outlook for Germany has deteriorated in recent months due to high energy price inflation and rising gas security risks. The sharp increase in global energy prices has weakened the purchasing power of domestic households and weighed on business costs and business and consumer sentiment. Moreover, high uncertainty about the future scale of Russian gas supplies has raised gas security risks particularly for the upcoming heating season. This commentary takes a closer look at recent gas market developments and lays out the downside risks for Germany's public finances which emanate from a potential gas shortage. While not envisaged in our base view, a potential gas shortage in the coming winter might lead to disruptions in industrial production and, as a result, to higher public support needs for companies particularly in energy-intensive manufacturing industries. Furthermore, the commentary describes why the recent increase in global gas prices is likely to necessitate additional government support measures either for households or domestic utilities. Household gas heating bills are set to increase markedly over the next months as the strong increase in wholesale import prices for gas has so far not been fully passed through to domestic consumer gas prices.

Key Highlights

• Prolonged cutoff in Russian gas supplies would raise the risk of gas shortages in the coming winter.

• Energy-intensive manufacturing would bear the brunt of potential gas supply cuts.

• The future strong increase in household heating bills is likely to necessitate additional government support measures.

• Germany commands over ample fiscal space for absorbing a temporary increase in budgetary pressures.

“A potential gas shortage in the coming winter would raise the risks of costly government bail-outs for companies in energy-intensive industries as gas needs from industrial consumers are subordinated to those of households,” said Yesenn El-Radhi, Vice President of the Sovereign Group at DBRS Morningstar. “These substantial downside risks for public finances, however, are mitigated by Germany’s ample fiscal space for absorbing a temporary increase in budgetary pressures.“

To view the full report, click here: https://www.dbrsmorningstar.com/research/400314/germany-fiscal-risks-of-tight-gas-supplies

The DBRS Morningstar group of companies consists of DBRS, Inc. (Delaware, U.S.)(NRSRO, DRO affiliate); DBRS Limited (Ontario, Canada)(DRO, NRSRO affiliate); DBRS Ratings GmbH (Frankfurt, Germany)(EU CRA, NRSRO affiliate, DRO affiliate); and DBRS Ratings Limited (England and Wales)(UK CRA, NRSRO affiliate, DRO affiliate). For more information on regulatory registrations, recognitions and approvals of the DBRS Morningstar group of companies, please see: https://www.dbrsmorningstar.com/research/225752/highlights.pdf. The DBRS Morningstar group of companies are wholly-owned subsidiaries of Morningstar, Inc. © 2022 DBRS Morningstar. All Rights Reserved. The information upon which DBRS Morningstar ratings and other types of credit opinions and reports are based is obtained by DBRS Morningstar from sources DBRS Morningstar believes to be reliable. DBRS Morningstar does not audit the information it receives in connection with the analytical process, and it does not and cannot independently verify that information in every instance. The extent of any factual investigation or independent verification depends on facts and circumstances. DBRS Morningstar ratings, other types of credit opinions, reports and any other information provided by DBRS Morningstar are provided “as is” and without representation or warranty of any kind. DBRS Morningstar hereby disclaims any representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability, fitness for any particular purpose or non-infringement of any of such information. In no event shall DBRS Morningstar or its directors, officers, employees, independent contractors, agents and representatives (collectively, DBRS Morningstar Representatives) be liable (1) for any inaccuracy, delay, loss of data, interruption in service, error or omission or for any damages resulting therefrom, or (2) for any direct, indirect, incidental, special, compensatory or consequential damages arising from any use of ratings and rating reports or arising from any error (negligent or otherwise) or other circumstance or contingency within or outside the control of DBRS Morningstar or any DBRS Morningstar Representative, in connection with or related to obtaining, collecting, compiling, analyzing, interpreting, communicating, publishing or delivering any such information. No DBRS Morningstar entity is an investment advisor. DBRS Morningstar does not provide investment, financial or other advice. Ratings, other types of credit opinions, other analysis and research issued or published by DBRS Morningstar are, and must be construed solely as, statements of opinion and not statements of fact as to credit worthiness, investment, financial or other advice or recommendations to purchase, sell or hold any securities. A report with respect to a DBRS Morningstar rating or other credit opinion is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. DBRS Morningstar may receive compensation for its ratings and other credit opinions from, among others, issuers, insurers, guarantors and/or underwriters of debt securities. DBRS Morningstar is not responsible for the content or operation of third party websites accessed through hypertext or other computer links and DBRS Morningstar shall have no liability to any person or entity for the use of such third party websites. This publication may not be reproduced, retransmitted or distributed in any form without the prior written consent of DBRS Morningstar. ALL DBRS MORNINGSTAR RATINGS AND OTHER TYPES OF CREDIT OPINIONS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AT https://www.dbrsmorningstar.com/about/disclaimer. ADDITIONAL INFORMATION REGARDING DBRS MORNINGSTAR RATINGS AND OTHER TYPES OF CREDIT OPINIONS, INCLUDING DEFINITIONS, POLICIES AND METHODOLOGIES, ARE AVAILABLE ON https://www.dbrsmorningstar.com.

The English version of this press release prevails.

Dennis Ferreira
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) reported a net loss¹ of $29.7 million, or $(0.20) per diluted share, for the second quarter 2022 compared to $42.0 million, or $(0.28) per diluted share, for the first quarter 2022 and $13.7 million, or $(0.09) per diluted share, for the second quarter 2021. Helix reported adjusted EBITDA² of $16.8 million for the second quarter 2022 compared to $2.5 million for the first quarter 2022 and $24.8 million for the second quarter 2021.

For the six months ended June 30, 2022, Helix reported a net loss of $71.7 million, or $(0.47) per diluted share, compared to a net loss of $16.6 million, or $(0.11) per diluted share, for the six months ended June 30, 2021. Adjusted EBITDA for the six months ended June 30, 2022 was $19.3 million compared to $61.0 million for the six months ended June 30, 2021. The table below summarizes our results of operations:

Owen Kratz, President and Chief Executive Officer of Helix, stated, “Our second quarter 2022 results improved sequentially as expected, and we benefitted from the seasonal pick-up in utilization in our Robotics and Well Intervention operations in the North Sea. We have previously said 2022 was projected to be a transition year for Helix, with an especially challenging first half. During the first half of 2022, we completed scheduled maintenance and regulatory inspections on six of our vessels, including the Q7000 in West Africa. The Siem Helix 1 transited back to Brazil to complete ROV support work prior to its contracted multi-year decommissioning campaign at the end of the year. We continued to de-lever our balance sheet with the repayment of our 2022 convertible debt during the second quarter. We closed on the acquisition of the Alliance group of companies on July 1 and are excited to add the Alliance team and their Shelf decommissioning capabilities to our Helix family. We believe that we have positioned the company for a much stronger second half of 2022 and beyond. The prospects for the offshore market are starting to reflect improved activity in line with current commodity prices and outlook. With significant uncertainty behind us, we have now issued full-year guidance. All markets we serve are showing signs of recovery, which should result in improved results and outlook, aligning with our efforts to position Helix as a preeminent offshore Energy Transition company.”

Segment Results

Well Intervention

Well Intervention revenues decreased $0.1 million in the second quarter 2022 compared to the prior quarter. Our second quarter 2022 revenues saw a decrease due to lower utilization in West Africa, offset by improved utilization in the North Sea and higher rates in the Gulf of Mexico. Utilization in West Africa decreased as the Q7000 commenced scheduled maintenance in Namibia early in the quarter following its successful campaign in Nigeria. The North Sea saw utilization improved seasonally with significantly improved utilization on both vessels. Gulf of Mexico rates improved during the quarter, and both vessels have now completed their scheduled regulatory inspections. Brazil revenues improved due to higher utilization on the Siem Helix 2 with the completion of its five-year regulatory inspections during the prior quarter, offsetting lower utilization on the Siem Helix 1, which completed its low-revenue accommodations project. Overall Well Intervention vessel utilization held steady at 67% during the second quarter 2022, with the decrease in West Africa utilization offset by strong utilization improvements in the North Sea. Well Intervention net loss from operations was $22.5 million, an improvement of $9.2 million during the second quarter 2022 compared to the prior quarter primarily due to a shift of operations to higher-margin projects during the quarter.

Well Intervention revenues decreased $26.0 million, or 20%, in the second quarter 2022 compared to the second quarter 2021. The decrease was primarily due to lower utilization in West Africa and lower rates in our Brazil unit, offset in part by higher rates and utilization in the Gulf of Mexico and higher utilization in the North Sea. West Africa utilization decreased as the Q7000 commenced scheduled maintenance during the second quarter 2022, and our Brazil operations had the Siem Helix 2 under its extended contract at lower rates and the Siem Helix 1 on an accommodations project at lower rates throughout most of the second quarter 2022, whereas both vessels were operating on legacy contracts at higher rates during the second quarter 2021. Revenues in the Gulf of Mexico increased from the prior year, with higher utilization and an increase in rates and integrated projects during the second quarter 2022. Overall Well Intervention vessel utilization decreased to 67% during the second quarter 2022 compared to 72% during the second quarter 2021. Well Intervention net loss from operations increased $15.8 million in the second quarter 2022 compared to the second quarter 2021 primarily due to lower revenues, offset in part by a net reduction in operating costs due to lower Q7000 utilization and reduced charter costs in Brazil.

Robotics

Robotics revenues increased $12.5 million, or 33%, in the second quarter 2022 compared to the prior quarter. The increase in revenues was due to seasonally higher vessel, ROV and trenching activities. Chartered vessel days increased to 370 days compared to 323 total vessel days, and vessel utilization increased to 94% compared to 90%, during the second quarter 2022 compared the prior quarter. Vessel days included 116 spot vessel days during the second quarter 2022, compared to 136 spot vessel days during the prior quarter, primarily performing seabed clearance work in the North Sea. ROV and trencher utilization increased to 53% in the second quarter 2022 from 35% in the prior quarter, and trenching days increased to 81 days during the second quarter 2022 compared to 66 days during the prior quarter. Robotics operating income increased $8.2 million during the second quarter 2022 compared to the prior quarter primarily due to higher revenues.

Robotics revenues increased $18.2 million, or 57%, during the second quarter 2022 compared to the second quarter 2021. The increase in revenues was due primarily to higher vessel and ROV activities year over year. Chartered vessel days increased to 370 total vessel days during the second quarter 2022 compared to 236 total vessel days during the second quarter 2021, although vessel utilization remained relatively flat, increasing from 93% in the second quarter of 2021 to 94% in the second quarter of 2022. Vessel days during the second quarter 2022 included 116 spot vessel days, compared to 61 spot vessel days during the second quarter 2021, primarily performing seabed clearance work in the North Sea. ROV and trencher utilization increased to 53% in the second quarter 2022 from 36% in the second quarter 2021, although trenching days decreased slightly to 81 days during the second quarter 2022 compared to 84 days during the second quarter 2021. Robotics operating income increased $9.4 million during the second quarter 2022 compared to the second quarter 2021 primarily due to higher revenues year over year.

Production Facilities

Production Facilities revenues decreased $0.6 million, or 3%, in the second quarter 2022 compared to the prior quarter primarily due to a decline in oil and gas production volumes, offset in part by higher oil and gas prices. Production Facilities revenues increased $3.5 million, or 24%, compared to the second quarter 2021 primarily due to higher oil and gas production volumes and prices.

Selling, General and Administrative and Other

Selling, General and Administrative

Selling, general and administrative expenses were $17.6 million, or 10.8% of revenue, in the second quarter 2022 compared to $14.4 million, or 9.6% of revenue, in the prior quarter. The increase was primarily due to higher employee incentive compensation and Alliance acquisition related costs during the second quarter.

Other Income and Expenses

Other expense, net was $13.5 million in the second quarter 2022 compared to $3.9 million in the prior quarter. Other expense, net in the second quarter 2022 included unrealized foreign currency losses related to the British pound, which weakened approximately 7% during the second quarter 2022.

Cash Flows

Operating cash flows were $(5.8) million during the second quarter 2022 compared to $(17.4) million during the prior quarter and $52.7 million during the second quarter 2021. The improvement in operating cash flows quarter over quarter was primarily due to higher earnings during the second quarter 2022. The reduction in operating cash flows year over year was primarily due to lower earnings, higher regulatory recertification costs for our vessels and systems and net working capital outflows during the second quarter 2022 compared to the second quarter 2021. Regulatory recertification costs for our vessels and systems, which are included in operating cash flows, were $9.3 million during the second quarter 2022 compared to $10.3 million during the prior quarter and $4.4 million during the second quarter 2021.

Capital expenditures totaled $1.6 million during the second quarter 2022 compared to $0.6 million during the prior quarter and $5.4 million during the second quarter 2021.

Free Cash Flow was $(7.4) million in the second quarter 2022 compared to $(18.0) million during the prior quarter and $47.2 million during the second quarter 2021. The decrease in Free Cash Flow quarter over quarter and year over year was due primarily to lower operating cash flows. (Free Cash Flow is a non-GAAP measure. See reconciliation below.)

Financial Condition and Liquidity

Cash and cash equivalents were $260.6 million at June 30, 2022, excluding $2.5 million of restricted cash. Available capacity under our ABL facility was $60.3 million, resulting in total liquidity of $320.9 million at June 30, 2022. At June 30, 2022 we had $267.1 million of long-term debt and net debt of $4.0 million. On July 1, 2022, we closed on our acquisition of the Alliance group of companies utilizing approximately $120 million of existing cash.

Conference Call Information

Further details are provided in the presentation for Helix’s quarterly teleconference to review its second quarter 2022 results (see the "For the Investor" page of Helix's website, www.helixesg.com). The teleconference, scheduled for Tuesday, July 26, 2022, at 9:00 a.m. Central Time, will be audio webcast live from the "For the Investor" page of Helix’s website. Investors and other interested parties wishing to participate in the teleconference may join by dialing 800-786-6596 for participants in the United States and 212-231-2902 for international participants. The passcode is "Staffeldt." A replay of the webcast will be available on the "For the Investor" page of Helix's website by selecting the "Audio Archives" link beginning approximately two hours after the completion of the event.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit our website at www.helixesg.com.

Non-GAAP Financial Measures

Management evaluates performance and financial condition using certain non-GAAP measures, primarily EBITDA, Adjusted EBITDA, net debt, net debt to book capitalization and Free Cash Flow. We define EBITDA as earnings before income taxes, net interest expense, gains or losses on extinguishment of long-term debt, gains and losses on equity investments, net other income or expense, and depreciation and amortization expense. Non-cash impairment losses on goodwill and other long-lived assets are also added back if applicable. To arrive at our measure of Adjusted EBITDA, we exclude the gain or loss on disposition of assets, acquisition and integration costs and the general provision (release) for current expected credit losses, if any. Net debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash. Net debt to book capitalization is calculated by dividing net debt by the sum of net debt and shareholders’ equity. We define Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from sale of assets.

We use EBITDA, Adjusted EBITDA and Free Cash Flow to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of EBITDA, Adjusted EBITDA and Free Cash Flow provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of EBITDA, Adjusted EBITDA and Free Cash Flow differently from the way we do, which may limit their usefulness as comparative measures. EBITDA, Adjusted EBITDA and Free Cash Flow should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures. See reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the COVID-19 pandemic and oil price volatility and their respective effects and results, our protocols and plans, our current work continuing, the spot market, our ability to identify, effect and integrate acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition; our spending and cost reduction plans and our ability to manage changes; our strategy; any statements regarding visibility and future utilization; any projections of financial items including projections as to guidance and other outlook information; any statements regarding future operations expenditures; any statements regarding our plans, strategies and objectives for future operations; any statements regarding our ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding our environmental, social and governance (“ESG”) initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ability to secure and realize backlog; the effectiveness of our ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.

Social Media

From time to time we provide information about Helix on social media, including: Twitter (@Helix_ESG), LinkedIn (www.linkedin.com/company/helix-energy-solutions-group), Facebook (www.facebook.com/HelixEnergySolutionsGroup), Instagram (www.instagram.com/helixenergysolutions) and YouTube (www.youtube.com/user/HelixEnergySolutions).

Erik Staffeldt - Executive Vice President and CFO
Ph: 281-618-0465
email: This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Fundamentals of Today's U.S. Natural Gas Industry" training has been added to ResearchAndMarkets.com's offering.

This comprehensive and clearly explained program is for professionals who are seeking an understanding of today's North American natural gas industry and want to be up and running to make intelligent and prudent trading and buying decisions.

Learn how the production/transportation/delivery infrastructure works and how deals are done. Know who the natural gas market participants are and how commercial transactions occur along each segment of the value chain. Understand and apply your knowledge of how the wholesale natural gas and transportation markets operate and where the new opportunities are in today's dynamic natural gas marketplace.

You will be more confident and benefit from knowing comprehensive nuts-and-bolts fundamentals through to understanding purchasing strategies that will manage risk and avoiding costly mistakes.

What You Will Learn

• A detailed understanding of all parts of the natural gas value chain, infrastructure components and how the natural gas industry operates across the value chain spectrum.
• What natural gas is, how it is created, the different "types" of natural gas based on various factors and sources, terminology, measurements and conversions.
• The essential of understanding how gas is used, by whom and what are demand drivers and related issues.
• The basics of natural gas production, drilling techniques and economic and market issues around production operations in different types of production basins that impact supply availability.
• What the unprecedented growth of unconventional gas supplies mean for the future of natural gas production and how it is changing infrastructures, pipeline flows and delivery options.
• The issues and dilemmas the industry faces in obtaining supply from new production technologies and understanding what "reserves" are and the various definitions and estimation methods.
• The basics of gas gathering, operations, markets and regulatory issues.
• What gas processing is, how it operates, Natural Gas Liquids extraction flows, and related economic issues in today's market.
• The importance of gas quality issues and the economic, operational and regulatory concerns about gas quality and the different concerns along the value chain about gas quality and interchangeability.
• The keys parts of natural gas pipelines, how pipelines operate, who the pipeline companies are and the significant issues pipeline face in a changing market.
• The importance of storage, the different types, operations and storage development issues.
• How LNG terminals work and how North American supply developments are impacting the evolving markets for global LNG.
• Significant LDC physical plant-related operations, how they work, LDC economic and rate worries and regulatory trends in today's market.
• Who regulates what, where, how and why and how FERC and state utility commission policy, major Orders and regulations have evolved into today's "open access" environment.
• How natural gas delivery and storage is regulated across the value chain and how it continues to evolve in today's environment.
• Significant FERC regulatory initiatives, policies and Orders that have transformed the industry and currently policy and regulatory issues that impact how the industry operates and the information it collects and disseminates.
• Evolving State regulatory concerns, issues and the changing role of state regulators.
• Overview of regulated rate components and rate design and new rate and policies on the horizon.
• The fundamentals of Rate Proceedings and how to understand capacity issues and pipeline tariffs, transportation services, agreements and rates.

Who Should Attend:

Professionals from natural gas and electric utilities, energy producers, pipelines, municipals, energy marketers, banks, government regulators and industrial companies; energy and electric power executives; new hires; attorneys; government regulators; traders & trading support staff; marketing, sales, purchasing & risk management personnel; accountants & auditors; plant operators, engineers, corporate planners and anyone needing a strong foundation in the U. S. and Canadian natural gas business.

For more information about this training visit https://www.researchandmarkets.com/r/ri37x5

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

DUBLIN--(BUSINESS WIRE)--The "Ship Building And Repairing Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global ship building and repairing market is expected to grow from $208.25 billion in 2021 to $227.54 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The market is expected to grow to $316.84 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%.

Major companies in the shipbuilding and repairing market include Samsung Heavy Industries Co Ltd, Daewoo shipbuilding & marine engineering, General Dynamics, Huntington Ingalls Industries, China Shipbuilding Industry Corp, China CSSC Holdings Limited, Fincantieri SpA, BRUNSWICK CORPORATION, Mitsubishi Heavy Industries Ltd, and Austal.

The shipbuilding and repairing market consists of sales of ships and shipbuilding and repairing services and related services by entities (organizations, sole traders, and partnerships) that operate shipyards. Shipyards are fixed facilities with drydocks and fabrication equipment capable of building a ship, defined as watercraft typically suitable or intended for other than personal or recreational use. The activities of shipyards include the construction of ships, their repair, conversion, and alteration, the production of the prefabricated ship and barge sections, and specialized services, such as ship scaling.

The main types in the shipbuilding and repairing market are shipbuilding and ship repairing. Shipbuilding refers to the construction of floating vessels and ships. The various applications include general services, dockage, hull part, engine parts, electric works, auxiliary services. These are used in transport companies, the military, other end-user.

Asia Pacific was the largest region in the shipbuilding and repairing market in 2021. Western Europe was the second largest region in the shipbuilding and repairing market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The shipbuilding and repairing market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth is 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth.

Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period.

Shipbuilding companies around the world are increasingly using green shipbuilding technologies to comply with environmental rules and regulations. Technologies being used for shipbuilding include ships with no ballast systems that block organisms entering the ship and eliminate the need for sterilization equipment, sulfur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems and use of LNG fuels for propulsion and auxiliary engines. Ships built using these technologies have significant energy savings and low carbon emissions.

For instance, Peace Boat, a Japanese non-profit NGO has entered into an agreement with Finnish shipbuilding company Arctech Helsinki Shipyard for the construction of Ecoship, the world's greenest cruise vessel. Dean Shipyards Group is also coordinating a green LeanShips project aimed at creating fewer polluting vessels.

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Ship Building And Repairing Market Characteristics

3.1. Market Definition

3.2. Key Segmentations

4. Ship Building And Repairing Market Product Analysis

4.1. Leading Products/ Services

4.2. Key Features and Differentiators

4.3. Development Products

5. Ship Building And Repairing Market Supply Chain

5.1. Supply Chain

5.2. Distribution

5.3. End Customers

6. Ship Building And Repairing Market Customer Information

6.1. Customer Preferences

6.2. End Use Market Size and Growth

7. Ship Building And Repairing Market Trends And Strategies

8. Impact Of COVID-19 On Ship Building And Repairing

9. Ship Building And Repairing Market Size And Growth

9.1. Market Size

9.2. Historic Market Growth, Value ($ Billion)

9.2.1. Drivers Of The Market

9.2.2. Restraints On The Market

9.3. Forecast Market Growth, Value ($ Billion)

9.3.1. Drivers Of The Market

9.3.2. Restraints On The Market

10. Ship Building And Repairing Market Regional Analysis

10.1. Global Ship Building And Repairing Market, 2021, By Region, Value ($ Billion)

10.2. Global Ship Building And Repairing Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region

10.3. Global Ship Building And Repairing Market, Growth And Market Share Comparison, By Region

11. Ship Building And Repairing Market Segmentation

11.1. Global Ship Building And Repairing Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Ship Building
• Ship Repairing

11.1. Global Ship Building And Repairing Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• General Services
• Dockage
• Hull Part
• Engine Parts
• Electric Works
• Auxiliary Services

11.1. Global Ship Building And Repairing Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Transport Companies
• Military
• Other End Users

12. Ship Building And Repairing Market Metrics

12.1. Ship Building And Repairing Market Size, Percentage Of GDP, 2016-2026, Global

12.2. Per Capita Average Ship Building And Repairing Market Expenditure, 2016-2026, Global

Companies Mentioned

• Samsung Heavy Industries Co. Ltd.
• Daewoo shipbuilding & marine engineering
• General Dynamics
• Huntington ingalls industries
• China Shipbuilding Industry Corp.
• China CSSC Holdings Limited
• Fincantieri SpA
• BRUNSWICK CORPORATION
• Mitsubishi Heavy Industries ltd.
• Austal

For more information about this report visit https://www.researchandmarkets.com/r/bv94c0

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

HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE:RNGR) (the “Company”) will report second quarter 2022 financial and operating results before the market opens for trading on Monday, August 1, 2022. Following the announcement, the Company’s management will host a second quarter 2022 earnings conference call in the morning of August 1, 2022 at 10:30 a.m. Eastern time (9:30 a.m. Central time).

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

About Ranger Energy Services, Inc.

Ranger is one of the largest providers of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry. Our services facilitate operations throughout the lifecycle of a well, including the completion, production, maintenance, intervention, workover and abandonment phases.

For further information, please direct all inquiries to:
Ranger Energy Services, Inc.
Melissa Cougle, (713) 935-8900
Chief Financial Officer
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the "Company") plans to announce its financial results for the second quarter 2022 prior to 8:00 A.M. Eastern Time on Thursday, August 4^th, 2022. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com.

In addition, management will host a conference call on Thursday, August 4^th, 2022 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (888) 394-8218 (tollfree from within the U.S.) or 323-794-2588 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference “NFE Second-Quarter 2022 Earnings Call."

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com under the Investors section within “Events & Presentations”. Please allow time prior to the call to visit the site and download any necessary software required to listen to the internet broadcast. A replay of the conference call will be available at the same website location shortly after the conclusion of the live call.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

IR:
Brett Magill
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Media:
Jake Suski
(516) 268-7403
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AMARILLO, Texas--(BUSINESS WIRE)--As part of the Dallas Bar Association’s Annual Energy Law Symposium being held August 4^th and 5^th, Jonathan R. Grammer with U.S. Carbon Capture, will present on the implications of industrial carbon capture for the future of Texas’ oil and gas industry. U.S. Carbon Capture, a project development firm with its corporate offices in Dallas, has been focused intently in the area of on-shore carbon capture and injection, now having several projects in development in across the state.

Momentum behind industrial carbon capture, especially within the fossil fuels industry, continues to accelerate in Texas. The Texas Railroad Commission, which regulates oil and gas in Texas, is in the process of implementing new internal rules relating to the injection and storage of carbon dioxide underground. House Bill 1284, signed by Governor Abbot last summer, grants the Texas Railroad Commission jurisdiction of Class VI injection wells for storage. The commission already retains jurisdiction for Class II injection wells for enhanced oil recovery. Class VI wells are one of several types of underground injection wells currently regulated by the EPA.

A Class VI Injection Well permit is required prior to drilling and operating a Class VI well for carbon capture and sequestration operations. While Texas currently has “primacy” (approval from the EPA for permitting and enforcement authority) over issuing permits for wells in Classes I-V, it does not yet have primacy for wells in Class VI, which means that final authorization still comes from the EPA. At this time, only Wyoming and North Dakota currently have Class VI primacy, though Louisiana is currently in the process of applying for primacy.

U.S. Carbon Capture is a project development company whose services include up-front alternative design scenarios with defensible economic forecasts that aid their clients in selecting their best-fit scenario. Their designs and economic forecasts are created by targeted seasoned professionals in the disciplines of Land and Legal, Finance, Facilities Engineering, Production and Reservoir Engineering, Geology and Geophysics, and Government Contract Procurement.

Wendi Swope
(806) 353-2911

Four-Day Global Event to Feature 65 Speakers; Usher in New Era of Fundamental Research and Development into Solid-State Atomic & Fusion Energy

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--#FUSION--Anthropocene Institute today announced the kick-off of the ICCF24 Solid-State Energy Summit, the conference where industry leaders will take a critical look at the field of lattice-enabled nuclear reactions (LENR), also known as solid-state atomic and fusion energy, or “cold fusion.” The conference will focus on observations, results, and theory, with an eye toward satisfying increased interest in practical fusion from the investment and research communities. The conference will take place at the Computer History Museum (CHM) in Mountain View, CA + Hopin Online Streaming Platform, July 25-28, 2022.

An emerging $15 trillion global energy market

Fusion has garnered intense interest and investment of late, as people race to find clean, sustainable forms of energy to combat climate change. According to Bloomberg, achievement of net energy — where energy produced exceeds the energy used — via nuclear fusion is nearing and would be momentous for the $15 trillion global energy market and GDP.

A subset of the fusion field, lattice-enabled nuclear reactions (LENR) or solid-state energy has been reported for decades from independent researchers around the world. Better known as cold fusion, or low energy nuclear reactions, observations suggest energy production on the scale of nuclear reactions but produced from within chemical systems without extreme temperatures or pressures. ICCF24 has been curated to accelerate the emerging solid-state energy field into a new era of fundamental research and development. The conference convenes 65 speakers, including several from U.S. Government agencies, as well as 45 research abstracts, panels and roundtable discussions.

Government officials, investors, scientists, and innovators to speak

Distinguished speakers, among others, include: Nobuo Tanaka, Former Executive Director of the International Energy Agency; Florian Metzler, Research Scientist at MIT Industrial Performance Center; Matt Trevithick, Partner at DCVC; Steve Katinsky, Co-Founder and Director LENRIA Corporation; Huw Price, Distinguished Professor Emeritus and Philosopher of Science; Oliver Barham, Project Manager, Naval Surface Warfare Center Indian Head; Theresa Benyo, PhD, Principal Investigator, NASA; Peter Shannon, Founder, Radius Mobility; and David Nagel, Research Professor, George Washington University.

Join us at ICCF24 Solid-State Energy Summit for plans for a competition and prize, panels on government initiatives, investment, industry, and startups working toward near-term commercialization.

About Anthropocene Institute

Anthropocene Institute comprises scientists, engineers, communicators, marketers, thought leaders, and advocates — all pulling together toward a common goal: make Earth abundant for all and sustainable for decades to come.

Media Relations:
Marie Domingo
for Anthropocene Institute
This email address is being protected from spambots. You need JavaScript enabled to view it.
(650) 888-5642

• Recognized as an industry leader in environmental, social and governance (ESG) performance and disclosure
• Made significant progress toward aggressive 2025 emissions reduction targets
• Enhanced climate related risk disclosure in line with latest TCFD guidance through a new report feature – Hess’ Low Carbon Transition Framework
• Fostered a work environment based on diversity, equity and inclusion
• Continued to invest in social programs that make a positive and lasting impact in the communities where Hess operates

NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today announced publication of its annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives. Hess Corporation’s 2021 Sustainability Report is available on the company’s website at www.hess.com/sustainability/sustainability-reports.

“This year marks the publication of our 25th annual sustainability report, demonstrating our longstanding commitment to sustainability and transparency,” CEO John Hess said. “We believe climate risks can and should be addressed while at the same time meeting the growing demand for affordable and secure energy, which is essential to ensuring a just and orderly energy transition. Our strategy is to deliver high return resource growth, a low cost of supply and industry leading cash flow growth – while at the same time maintaining our industry leadership in ESG performance and disclosure.”

Hess Corporation’s 2021 Sustainability Report shows how sustainable business practices are integrated into the company’s strategy, goals, metrics and daily operations for the benefit of all of its stakeholders. Highlights include:

• Reducing greenhouse gas emissions: After significantly outperforming its five year emissions reduction targets for 2020, Hess set new five year reduction targets for 2025 – to reduce both operated Scope 1 and 2 greenhouse gas (GHG) and methane emissions intensities by approximately 50% from 2017 and to achieve zero routine flaring from its operations by the end of 2025. These targets exceed the carbon intensity reductions by 2030 assumed in the International Energy Agency’s (IEA) Sustainable Development and Net Zero Scenarios, which are consistent with the Paris Agreement’s aim to limit the global average temperature rise to well below 2°C. In 2021, Hess made significant progress toward these five year targets. To help mitigate societal emissions, Hess is contributing to groundbreaking work by the Salk Institute to develop plants with larger root systems that are capable of absorbing and storing potentially billions of tons of carbon per year from the atmosphere.
  
  
• Enhancing climate related risk disclosure in line with latest TCFD guidance: The Task Force on Climate-Related Financial Disclosures (TCFD) provides a universal framework for companies to communicate their responses to the physical, reputational and transition risks of climate change. In this year’s Sustainability Report, Hess introduces a Low Carbon Transition Framework in line with revised TCFD guidance issued in October 2021 that provides a detailed summary of the company’s climate related risks, opportunities and actions in the areas of governance, strategy, risk management, metrics and targets.
  
  
• Operating safely through workforce engagement: In 2021, the company achieved a 9% reduction in its workforce total recordable incident rate (TRIR) from 2020. Hess also reached a six year low in its severe and significant safety incident rate, achieving a 14% reduction from 2020. In 2021, Hess successfully completed a number of major operational milestones – all with zero recordable safety incidents -- including adding two drilling rigs in the Bakken and one in North Malay Basin and completing the Tioga Gas Plant turnaround.
  
  In 2021, a multidisciplinary emergency response team continued to oversee plans and precautions to reduce the risks of COVID-19 in Hess’ work environment and ensure business continuity. The company also has provided financial and volunteer support for a variety of community relief efforts.
  
  
• Advancing diversity, equity and inclusion and investing in communities: Hess has a longstanding commitment to diversity, equity and inclusion (DEI) in its workplace and the communities where it operates. In 2021, the company hired a dedicated head of DEI and a dedicated expert to lead supplier related DEI and sustainability efforts and expanded its DEI training and efforts to attract and retain more diverse job candidates. The company also continued to make investments in 2021 to advance equal opportunity and economic growth in the communities where it operates, including a $9 million financial commitment over three years to fund educational programs and support services in three underserved Houston communities and a $1.4 million grant to the Jackie Robinson Foundation to provide four year scholarships and internship opportunities to underrepresented college students and to support the new Jackie Robinson Museum that will serve as a venue for educational programming.
  
  
• Maintaining top quartile ESG performance: In 2021, Hess achieved leadership status in the CDP Global Climate Analysis for the 13th consecutive year and earned a place on the Dow Jones Sustainability Index for North America for the 12th consecutive year. Hess received a AAA rating in the MSCI ESG ratings for 2021 after earning AA ratings from MSCI ESG for 10 consecutive years. The AAA rating designates Hess as a leader in managing industry specific ESG risks relative to peers. Hess was the No. 1 energy company on the 2021 list of 100 Best Corporate Citizens and the only U.S. oil and gas producer included in the Bloomberg Gender-Equality Index. Hess also was awarded a top (Level 4) ranking by the Transition Pathway Initiative in their November 2021 report based on the company’s efforts to support the transition to a low carbon economy and mitigate climate change in line with TCFD recommendations.

Hess Corporation’s 2021 Sustainability Report was prepared in accordance with the Core level for sustainability reporting under the Global Reporting Initiative (GRI) Standards, an independent organization that provides the world’s most widely recognized sustainability reporting and disclosure standards. Preparation of the report was informed by TCFD recommendations, oil and gas industry metrics from the Sustainability Accounting Standards Board (SASB) and the World Economic Forum (WEF) Stakeholder Capitalism Core Metrics. The report has been third-party assured by ERM Certification and Verification Services.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on the company is available at www.hess.com.

Cautionary Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: information about sustainability goals and targets and planned social, safety and environmental policies, programs and initiatives; our future financial and operational results; our business strategy; estimates of our crude oil and natural gas reserves and levels of production; benchmark prices of crude oil, natural gas liquids and natural gas and our associated realized price differentials; our projected budget and capital and exploratory expenditures; expected timing and completion of our development projects; and future economic and market conditions in the oil and gas industry.

Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward- looking statements: fluctuations in market prices of crude oil, natural gas liquids and natural gas and competition in the oil and gas exploration and production industry, including as a result of COVID-19; reduced demand for our products, including due to COVID-19, perceptions regarding the oil and gas industry, competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions, and in achieving expected production levels; changes in tax, property, contract and other laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring, fracking bans as well as restrictions on oil and gas leases; operational changes and expenditures due to climate change and sustainability related initiatives; disruption or interruption of our operations due to catastrophic events, such as accidents, severe weather, geological events, shortages of skilled labor, cyber-attacks, health measures related to COVID-19 or climate change; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures under which we may not control and exposure to decommissioning liabilities for divested assets in the event the current or future owners are unable to perform; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; availability and costs of employees and other personnel, drilling rigs, equipment, supplies and other required services; any limitations on our access to capital or increase in our cost of capital, including as a result of weakness in the oil and gas industry or negative outcomes within commodity and financial markets; liability resulting from environmental obligations and litigation, including heightened risks associated with being a general partner of Hess Midstream LP; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission.

As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

Investor:
Jay Wilson
(212) 536-8940
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Media:
Lorrie Hecker
(212) 536-8250
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AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has been awarded contracts totaling more than $12 million for two utility-scale solar panel installation projects totaling 144-megawatts, located in the Midwest United States.

The photovoltaic solar farms will produce zero-carbon, zero-emissions power for more than 20,000 homes and businesses.

“The U.S. clean energy revolution is under way, and we’re excited to be part of these utility-scale solar projects,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “B&W’s solar services are part of our broad suite of renewable energy, decarbonization and environmental solutions.”

“Our solar installation and service capabilities allow us to effectively serve a broad range of customers, including utility-scale installations such as these,” Morgan said. “As demand for clean energy solutions continues to grow, we’re optimistic about the ongoing growth of the North American solar energy market.”

Project planning is in progress and completion is scheduled for the fourth quarter of 2022.

About B&W

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc., is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

About B&W Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable’s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the awarding and completion of contracts for solar installation projects in the Midwest United States, as well as the growth of the North American solar energy market. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

Investor Contact:
B&W Investor Relations
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
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LONDON--(BUSINESS WIRE)--Lynher Energy (“Lynher”) today announced it has acquired rights to build two solar battery farms, in aggregate of 96MW, and two independent battery facilities, in aggregate of 100MWh, at adjacent sites in the UK. Lynher Energy is a joint venture between a Napier Park Global Capital (“Napier Park”) and Ethical Power (“Ethical Power”) and focuses on developing and managing solar power generation and battery-storage facilities.

Demand for electricity is expected to continue growing, driven in part by increasing electrification of the broader economy. Meanwhile, demand for energy generated by renewable sources is growing even faster than overall energy demand: the UK and other European governments have committed to reduce carbon emissions and reach net zero carbon emissions from energy generation by 2050.

Chris Sparrow, Principal at Napier Park said, “This investment helps to close the gap between required energy generation and the investment necessary to achieve net zero carbon emissions aimed at successfully addressing the climate crisis. As one of the few vertically integrated solar companies in the UK with capability across the entire project lifecycle, Ethical Power is well-positioned to apply deep industry expertise and skills to design, construct and maintain complex solar projects such as this. Napier Park and Ethical Power expect to invest further in these assets; and to fund additional important projects in the UK and in Europe.”

About Lynher Energy

Lynher Energy is the joint venture established by Napier Park Global Capital and Ethical Power to invest in large-scale solar and battery storage assets in the UK and Europe. The combination of Napier Park’s extensive experience in sponsoring industry-leading joint ventures with Ethical Power’s capabilities and knowledge in the development, construction, operation and maintenance of large and complex solar projects offers the ability to develop high-quality, valuable assets while pursuing a long-term goal of reducing carbon consumption and transitioning toward green energy resources.

About Napier Park

On March 31, 2022, First Eagle Investments announced a definitive agreement to acquire Napier Park Global Capital. The acquisition of Napier Park significantly broadens First Eagle’s capabilities in the large and diverse alternative credit market, enabling it to offer clients exposure to opportunistic US and European credit, US mortgages and consumer debt, US municipal debt and equipment leasing. The acquisition also serves to enhance the size and scope of the firm’s CLO footprint, including the addition of European CLO management.

Napier Park is a leading alternative credit manager with approximately $19 billion in assets under management, as of March 31, 2022, across credit funds, CLOs and real assets predominantly within the US and European markets. Napier Park differentiates itself through its decades of specialized credit expertise, world-class infrastructure and creativity, providing effective solutions to a broad range of institutional clients. Napier Park has offices in New York, London and Switzerland. For more information visit www.napierparkglobal.com.

About First Eagle Investments

First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $109 billion in assets under management as of March 31, 2022. Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage dating back to 1864, First Eagle has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. The firm’s investment capabilities include equity, fixed income, alternative credit and multi-asset strategies. For more information on First Eagle, please visit www.firsteagle.com.

About Ethical Power

Ethical Power is a leader in the UK market for the financing, development, construction and maintenance of renewable energy projects. With a core competency in the provision of construction and grid connection services, it is one of the only fully integrated renewable energy businesses in the UK. Ethical Power is 50% owned by Hive Energy, one of the largest and most successful solar power developers in Europe. For more information visit www.ethical-power.com.

Media

Mickey Mandelbaum / John Perilli / Ben Howard
Prosek Partners for Napier Park Global Capital
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Counter Context for Ethical Power
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VANCOUVER, British Columbia--(BUSINESS WIRE)--$LPEN--Loop Energy^TM (TSX: LPEN) announces Mobility & Innovation (M&I) has purchased an additional 10 fuel cell systems to meet the growing demand for its hydrogen-electric city bus. The order sees Loop Energy progress to the Scale-Up Phase with a second bus manufacturer.

Upon delivery of the additional S300 (30 kW) fuel cell systems, Loop Energy will aim to support M&I in increasing the production of its 8-metre city bus and monitor operational performance. Previously, the two companies partnered to develop the prototype bus, complete field testing and achieve EU homologation.

Following launch in March 2022, M&I showcased the bus across various European markets. Throughout the tour, the bus demonstrated increased fuel efficiency, allowing it to achieve further range with less onboard fuel storage. This has been a standout feature for fleet operators looking for a zero-emissions solution to electrify transit bus fleets.

“We now have the opportunity to deliver our hydrogen-electric city bus to some of Europe’s largest and most progressive markets for hydrogen-electric vehicles,” said Mobility & Innovation Co-Owner and CEO, János Onódi. “We offer a solution to decarbonizing urban transit, and with Loop Energy’s technology and support, we hope to deploy our buses in cities around Europe in the near future.”

“Mobility & Innovation has made tremendous inroads into the market over the last few months, and we are proud to be their fuel cell partner as they continue their journey,” said Loop Energy Chief Commercial Officer, George Rubin. “The accelerated growth in order volume for our fuel cell engines is a direct reflection of rapid expansion of demand for hydrogen-electric vehicles in our core markets.”

M&I’s progression to the Scale-Up Phase builds upon Loop Energy’s recent success of entering the Full Production Phase with Tevva Motors after finalizing a multi-year fuel cell supply agreement with delivery commitments in excess of US$12 million. Due to the accelerated adoption of its technology and the strong growth of its customers, Loop Energy will provide an update on its purchase order guidance during its Q2 2022 financial results on August 4. For dial-in details, visit: https://loopenergy.com/news/q2-2022-earnings-results-call/.

About Mobility & Innovation Production s.r.o.

Mobility & Innovation Production s. r. o. is a Slovakian company responsible for the development of composite lightweight, zero-emission city bus platform. M&I’s platform is known for its hydrogen electric powertrain and industry leading GVWR (Gross Vehicle Weight Rating) for a zero-emission transit bus vehicle, while its low curb weight enables greater passenger capacity while still meeting even the most stringent axel load requirements. For more information, please visit http://mobility-inovation.sk/hu.html.

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

Forward Looking Warning

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Particularly, statements regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information, including without limitation the expected fuel efficiency and performance of the Company’s products and the Company’s expectation of future orders for its products from Mobility & Innovation. Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of the Company’s products and growth in demand for the Company’s products from Mobility & Innovation and other customers) and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward‐looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy, progress existing and future customers through the Customer Adoption Cycle in a timely way, the realization of electrification of transportation, the elimination of diesel fuel and ongoing government support of such developments, the expected growth in demand for fuel cells for the commercial transportation market and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.

Investor Inquiries:
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Laine Yonker | Tel: +1 646.653.7035 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Business Inquiries:
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Europe: Luigi Fusi | Tel: +39.028457.3048 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Inquiries:
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Mobility & Innovation Production s.r.o. Inquiries:
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Rachel brings diverse Marketing Communications experience to Versant Health

BALTIMORE--(BUSINESS WIRE)--#avp--Versant Health, a leading national managed vision care company and wholly-owned subsidiary of MetLife, is proud to welcome Rachel Pokay as Assistant Vice President of Brand Activation and Market Enablement, effective July 25, 2022.

Rachel has over 15 years of marketing and communications experience, building broad and deep experience in the employee benefits, insurance, and financial services sector over the last decade. Most recently, Rachel was the Director of Sustainability Communications at MetLife, supporting MetLife’s Chief Sustainability Officer, Chief Global Diversity, Equity and Inclusion Officer, and MetLife Foundation President & CEO. Prior to that, she held various marketing and communications roles of increasing responsibility during her 11-year tenure in MetLife’s U.S. Group Benefits Business and former Retail Business.

“Rachel’s breadth and depth of experience, combined with her passion and enthusiasm for crafting and activating results-oriented communication strategies, will infuse our brand awareness and engagement efforts like never before,” said Jennifer Wyeth, Vice President, Strategic Planning, Program Delivery and Marketing Communications. “We are excited to welcome Rachel to Versant Health as she will be a strong addition to our leadership team.”

Rachel holds a Bachelor of Arts in Communications from Flagler College.

About Versant Health

Versant Health, Inc., a wholly-owned subsidiary of MetLife, Inc., is one of the nation's leading administrators of managed vision care companies serving more than 38 million client-members nationwide. Through our Davis Vision and Superior Vision independent provider networks, we help members access the wonders of sight through healthy eyes and vision. Administering vision and eye health solutions that range from access to routine vision benefits to medical management, Versant Health has unique visibility and scale across the total eye health value chain. As a result, our clients' members enjoy a seamless experience with access to one of the broadest provider networks in the industry and an exclusive frame collection. Commercial groups, employer plans, and health plans that serve government-sponsored programs such as Medicaid and Medicare are among our valued customers.

For more information visit versanthealth.com.

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630 270 7178
Jennifer Wyeth
Vice President | Strategic Planning, Program Delivery, and Marketing Communications

DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock payable on September 1, 2022 to shareholders of record as of August 17, 2022. In accordance with the Company’s amended dividend policy announced on June 10, 2022, this quarterly dividend of $0.10 per share is double the prior quarterly dividend of $0.05 per share.

About Matador Resources Company

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

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

Forward-Looking Statements

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

Mac Schmitz
Vice President – Investor Relations
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(972) 371-5225

$450,000 grants designed to support families and businesses facing economic challenges and improve clean energy access

CHICAGO--(BUSINESS WIRE)--To help bring more climate-friendly assistance programs to northern Illinois families and businesses, ComEd today announced a $1.8 million competitive grant program to support nonprofit organizations in offering assistance programs focused on clean energy to limited-income customers in the communities the energy company serves.

ComEd’s Climate Friendly Grant Assistance program will award grants up to $450,000 each to four nonprofit organizations to develop and administer climate-friendly and complementary programs. Eligible nonprofit candidates must be 501(c)(3) certified, serve the ComEd service territory, implement diversity, equity, and inclusion practices, and have not received a grant from Exelon or any subsidiary within the past 12 months.

“The economic gap that was widened by the pandemic continues to be exacerbated by events happening locally and overseas,” said Melissa Washington, senior vice president of customer operations and chief customer officer, ComEd. “As part of our commitment to find creative solutions to lift up northern Illinois families and businesses and ensure everyone shares in the benefits of clean energy, ComEd is looking to tap into the ideas of nonprofits who directly support the communities we are privileged to serve.”

Interested nonprofits can review the complete grant guidelines, download a request for proposal and access an application at ComEd.com/NonProfitGrant.

Applications are being accepted now through 5 p.m. CT Aug. 5, 2022, and can be submitted online at This email address is being protected from spambots. You need JavaScript enabled to view it., by fax at 443-213-3553, or by U.S. mail, postmarked by Aug. 5, 2022, to ComEd, Attention – Climate Friendly Grant Program, P.O. Box 2550, Chicago, Ill. 60690

Existing Climate-Friendly Programs for Limited-Income Customers

ComEd’s Climate Friendly Grant Assistance program is just the latest ComEd effort to lift the communities it serves and ensure the benefits of clean energy are distributed equitably. Some existing programs include:

• Bill Assistance To help eligible customers who are facing economic hardship, ComEd offers several bill-assistance options including deferred payment arrangements and grants to help these customers maintain access to reliable, low-carbon energy. For information or to enroll in one of these options, visit ComEd.com/Payment Assistance or call 800-334-7661 (800-EDISON-1), Monday through Friday from 7 a.m. to 7 p.m.
• Give-A-Ray Made possible by Illinois Solar for All, this program offers the opportunity for income-eligible ComEd residential customers, regardless of where they live, to take advantage of community solar projects in Rockford and Kankakee, Ill., without paying any subscription fees. By subscribing to a community solar project, which is a "farm" of solar panels owned and operated by a community solar developer, customers can save an average of $1,000 annually on their energy bills. For more information, visit ComEd.com/GiveARay.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.

ComEd Media Relations
312-394-3500

ARNHEM, Netherlands & PARIS & NEW YORK--(BUSINESS WIRE)--Allego N.V. (“Allego”) (NYSE: ALLG), a leading pan-European public electric vehicle fast-charging network, today announced that Chief Financial Officer, Ton Louwers, will participate in an ESG focused fireside chat at the Shareholder Equity Conference on Wednesday, July 27, 2022 at 11:00 am ET.

The presentation will be webcast live and accessed at https://Shareholder-Equity-Conference.videoshowcase.net, or in the Events and Publications section at https://ir.allego.eu.

Allego’s network delivered 83GWh¹ of clean, 100% renewable energy to EV drivers in 2021, an increase of 77% from 2020. Therefore, its network enabled 414 million green kilometers (258 million miles) compared with 234 million green kilometers (145 million miles) in 2020.

1) Excluding Mega-E

About Allego

Allego delivers charging solutions for electric cars, motors, buses, and trucks, for consumers, businesses, and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprising of approximately 34,000 public charging ports operational throughout the pan-European market – and proliferating. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives our customers and us a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient, and more enjoyable for all.

Investors
Manish A. Somaiya
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Media
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DUBLIN--(BUSINESS WIRE)--The "Global Cable Management Accessories Market (2022-2027) by Product, End-Use Industry, Geography, Competitive Analysis, and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Cable Management Accessories Market is estimated to be USD 23.87 Bn in 2022 and is projected to reach USD 34.85 Bn by 2027, growing at a CAGR of 7.86%.

Market dynamics are forces that impact the prices and behaviors of the Global Cable Management Accessories Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service.

Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Company Profiles

Some of the companies covered in this report are ABB, Amphenol, Anixter International, Belden, D-Line, Dubai Cable Company, Wurth Elektronik.

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score.

The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Cable Management Accessories Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The report analyses the Global Cable Management Accessories Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Market Dynamics

Drivers

• High Demand for Energy and Constant Investments in Infrastructure
• Government Initiatives to Expand or Upgrade Transmission & Distribution Systems
• Renewal and Replacement of Existing Networks in Mature Economies

Restraints

• Complex Planning & Authorization Procedures Leading to Delays
• Price Volatility of Raw Materials

Opportunities

• Favorable Renewable Energy Policies in Key Countries
• Mounting Demand for Cable Management Accessories in Aerospace and IT Sectors
• Industrialization & Urbanization Driving Demand for Cable and Accessories

Challenges

• Connector Challenges Faced During Assembly
• Designing in Prototype Cables Due to The High-Tooling Investments

Market Segmentations

• By Product, the market is classified into Cable Lugs, Cable Markers, and Heat Shrink Tubes.
• By End-Use Industry, the market is classified into IT & Telecom, Manufacturing, Energy & Utility, Healthcare, Logistics & Transportation, Oil & Gas, Mining, and Construction.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

Company Profiles

• ABB
• Amphenol
• Anixter International
• Belden
• D-Line
• Dubai Cable Company
• Elsewedy Electric
• Furukawa Electric
• General Cable
• HellermannTyton
• Heyco
• Hirose Electric
• HomeProTek
• Kabelwerke
• Legrand
• LS Cable & System
• Nexans
• NKT
• phoenix contact
• Prysmian
• Schneider Electric
• Southwire Company
• Sumitomo
• TE Connectivity
• TELE-FONIKA Kable
• Wurth Elektronik

For more information about this report visit https://www.researchandmarkets.com/r/6i0fxt

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