HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Standard Time (EST) on Thursday, January 26, 2023 to discuss fourth quarter 2022 earnings. The company plans to release its financial and operating results before the market opens that morning.
A webcast link and related presentation material will be included on the Investors page of the company’s website at http://ir.murphyoilcorp.com.
Date: Thursday, January 26, 2023
Time: 9:00 a.m. EST
Toll Free Dial-in: 888-886-7786
Conference ID: 99312590
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company’s future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
Nathan Shanor, This email address is being protected from spambots. You need JavaScript enabled to view it., 713-941-9576
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced the satisfaction of the mandatory conversion requirements under its 9.00% Convertible Senior Secured Notes due August 2025 (the “2025 Notes”). In connection with the conversion, $122.8 million or 47.8% of the 2025 Notes will convert into approximately 4.5 million shares of FET common stock on January 3, 2023, with a settlement date of January 5, 2023. The remaining approximately $134.2 million in aggregate principal of the 2025 Notes are not subject to any optional or further mandatory conversion provisions. FET’s annualized interest payments will decline by over $11 million following the conversion.
As adjusted for the conversion and the recently announced sale leaseback, FET’s net debt would have been approximately $93 million as of September 30, 2022, or 2.0 times trailing twelve months Adjusted EBITDA. Availability under FET’s ABL credit facility would remain $127 million as of that date. See Table 1 for Adjusted EBITDA to Net Income reconciliation.
Neal Lux, President and Chief Executive Officer, remarked, “First, I would like to welcome our newest shareholders to the FET family. In addition, I want to thank FET’s employees for their hard work and dedication to achieve this important milestone.
“From the third quarter 2020 to the third quarter 2022, and including our recently announced sale-leaseback transaction, we have reduced our net debt by approximately $215 million. As we look ahead, we will continue to execute our strategy of delivering technology that makes energy production more efficient, safer and cleaner. The strong macro environment and our ability to capture market share position us to increase revenue and profit margins. Importantly, the reduction in cash interest associated with this debt conversion will bolster our free cash flow generation. The future is brighter than ever for FET.”
FET is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.
Forward Looking Statements and Other Legal Disclosure
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the company, including any statement about the company's future financial position, liquidity and capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, new product development activities, costs and other guidance included in this press release.
These statements are based on certain assumptions made by the company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Among other things, these include the volatility of oil and natural gas prices, oilfield development activity levels, the availability of raw materials and specialized equipment, the company's ability to deliver backlog in a timely fashion, the availability of skilled and qualified labor, competition in the oil and natural gas industry, governmental regulation and taxation of the oil and natural gas industry, the company's ability to implement new technologies and services, the availability and terms of capital, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting the company's business, impacts associated with COVID-19, and other important factors that could cause actual results to differ materially from those projected as described in the company's filings with the U.S. Securities and Exchange Commission.
Any forward-looking statement speaks only as of the date on which such statement is made, and the company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Table 1.
| Three Months Ended | ||||||||
| Adjusted EBITDA reconciliation (1) | September 30, 2022 |
June 30, 2022 |
March 31, 2022 |
December 30, 2021 |
||||
| Net income (loss) | 16.5 |
9.3 |
(9.2) |
(19.6) |
||||
| Interest expense | 8.1 |
7.8 |
7.6 |
7.9 |
||||
| Depreciation and amortization | 9.1 |
9.5 |
9.6 |
10.2 |
||||
| Income tax expense | 1.3 |
1.7 |
1.9 |
-3.1 |
||||
| Restructuring, transaction and other costs | 1.0 |
1.4 |
3.7 |
1.8 |
||||
| Inventory and other working capital adjustments | (0.8) |
(2.1) |
- |
3.3 |
||||
| Gain on foreign exchange, net (2) | (18.2) |
(12.8) |
(5.8) |
1.8 |
||||
| Stock-based compensation expense | 0.8 |
0.7 |
1.1 |
1.9 |
||||
| Adjusted EBITDA | $ 17.8 |
$ 15.5 |
$ 8.9 |
$ 4.2 |
||||
| (1) The company believes that the presentation of EBITDA is useful to investors because EBITDA is an appropriate measure of evaluating the company's operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing the company's securities and making strategic acquisitions. In addition, EBITDA is a widely used benchmark in the investment community. | ||||||||
| (2) Foreign exchange, net primarily relates to cash and receivables denominated in U.S. dollars by some of our non-U.S. subsidiaries that report in a local currency, and therefore the loss has no economic impact in dollar terms. | ||||||||
Company Contact
Rob Kukla
Director Investor Relations
281.994.3763
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LOS ANGELES--(BUSINESS WIRE)--Faraday Future (NASDAQ: FFIE) ("FF" or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that FF Global CEO Xuefeng (“XF”) Chen and Ms. Ke Sun have been appointed to FF’s Board of Directors, effective December 27, 2022. Mr. XF Chen and Ms. Ke Sun fill the vacancies on the Board due to the resignations of Dr. Carsten Breitfeld and Mr. Edwin Goh, who both stepped down from the Board effective as of December 26, 2022.
Ms. Ke Sun is a designee of FF Top Holding LLC (“FF Top”) pursuant to the Shareholder Agreement entered into by the Company and FF Top, dated July 21,2021. Mr. Edwin Goh was previously a designee of FF Top on the Board. The Company thanks Mr. Edwin Goh for his valuable service as a member of the Board.
Ms. Ke Sun served as the Chief Financial Officer of Yudo New Energy Auto Co., Ltd., an electric car original equipment manufacturer (“OEM”) in Fujian Province, China, from August 2020 to June 2022. From September 2017 to May 2019, Ms. Sun served as an independent financial adviser and assisted in the fundraising efforts of HoloMatic Technology Ltd., a start-up company that is developing Level 3 automatic driving by co-developing hardware and software with mainstream Chinese OEMs. From June 2016 to December 2017, Ms. Sun served as Vice President of Investor Relations of BAIC Motor Corporation Limited (“BAIC Motor”), a Hong Kong Stock Exchange-listed company. BAIC Motor is an OEM affiliate of Beijing Automotive Group Co., Ltd., a Fortune Global 500 conglomerate. Ms. Sun also served as the Secretary of the board of directors of BAIC Motor from September 2016 to September 2017. Prior to that, Ms. Sun held several leadership roles at various Chinese companies, including at a Chinese internet company, a global media group listed on The Nasdaq Stock Market LLC, and a Chinese telecom operator. Ms. Sun graduated with a bachelor’s degree in International Financial Law from Dalian Maritime University. She also has a Board of Directors Secretary Certificate issued by the Shanghai Stock Exchange and a Fund Qualification Certificate issued by the Asset Management Association of China.
The Company expects to start production of a saleable FF 91 Futurist at the end of March 2023, with deliveries before the end of April, subject to the timely availability of additional funding, and receipt of shareholder approval for a sufficient increase in FFIE'S authorized shares. The Company continues to make progress with testing and validation of the FF 91 Futurist through the Product and Technology Generation 2.0 program (PT Gen 2.0).
The Company also recently announced it has completed manufacturing milestone #6, the completion of construction and equipment installation in vehicle assembly areas. This marks six of the seven milestones (the 7th milestone being SOP) that FF laid out late in 2021 to mark its manufacturing achievements towards the start of production of the FF 91 Futurist.
Users can preorder an FF 91 Futurist via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/
Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.
FOLLOW FARADAY FUTURE:
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release includes “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, which include statements regarding anticipated start of production (SOP) and delivery timing for our FF 91 Futurist vehicle, additional anticipated funding and timing for receipt thereof and FF stockholder approval of an authorized share increase and the timing thereof, 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 the Company’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 the Company’s ability to satisfy the conditions precedent and close on the various financings previously disclosed by the Company and anticipated additional financings, the failure of any which could result in the Company seeking protection under the Bankruptcy Code; the Company’s ability to amend its certificate of incorporation to permit sufficient authorized shares to be issued in connection with the Company’s existing and contemplated financings; the ability of the Company to agree on definitive documents to effectuate the governance changes with FF Top; the Company’s ability to remain in compliance with its public filing requirements under the Securities Exchange Act of 1934, as amended, and the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the SEC investigation relating to the matters that were the subject of the Special Committee investigation and other litigation involving the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; recent cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; and the ability of the Company to attract and retain directors and employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-1 filed on December 23, 2022, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the 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 the Company does not undertake any 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.
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DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Fluids Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global electric vehicle fluids market is anticipated to grow at a substantial CAGR of 21.9% during the forecast period. One of the major factors that are fueling the market growing awareness and importance of fluids in the functioning of vehicles.
Every vehicle requires a specific number of minimum fluids such as engine oil, lubricants, coolants, and others for proper functioning of the vehicle. Without these fluids, a vehicle cannot perform smoothly. Thus, with the rising demand for electric vehicles (EVs), the demand for EV fluids have also been increased significantly.
For instance, in June 2021, Kixx, a brand of GS Caltex, launched a Kixx EV Fluid, a new brand of advanced fluids designed specifically for EVs to fulfill the demands of these cutting-edge EV. Kixx EV Fluid offers a range of products that includes both e-transmission fluid and e-thermal fluid designed to improve operational efficiency and protect essential components.
The global electric vehicle fluids market is segmented based on the product type, fill type, vehicle type, and propulsion type. Based on the product type, the market is segmented into the engine oil, coolants, transmission fluids, and greases.
Based on the fill type, the market is sub-segmented into the first fill, and service fills.
Based on the vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Based on the propulsion type, the market is segmented into a hybrid electric vehicle, fuel cell electric vehicle, and battery electric vehicle. The above-mentioned segments can be customized as per the requirements.
Among the propulsion type segment, the Hybrid Electric Vehicles (HEV) segment is expected to hold prominent market share of the electric fluid market compared to other sub-segments. HEVs have a higher requirement for fluids owing to the presence of a combustion engine along with a battery system.
Electric vehicles have three main fluids that includes windscreen washer fluid, coolant fluid, and brake fluid. However, HEV requires more transmission fluid that needs to be changed regularly, which may restrain growth of the market.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to hold prominent market share of the electric vehicle fluid market, due to the presence of key automotive players across the nations such as Germany, UK, and others. As per the data released by the International Energy Agency (IEA) 2020, Europe has 3.2 million units of EV cars stock while the US has 1.7 million EV cars stock.
Market Segmentation
The Report Covers
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/iew6uw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Marine Grease Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global marine grease market size reached US$ 359.6 Million in 2021. Looking forward, the publisher expects the market to reach US$ 464.1 Million by 2027, exhibiting a CAGR of 4.34% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Marine grease is a semi-solid lubricant with jelly-like consistency used for protecting marine vessels from corrosion, wear and tear and water washout by maintaining an oil film to prevent metal-to-metal contact between the cylinder liner and piston rings. It facilitates siding and rolling motion and is manufactured by blending mineral oils with asphaltic oils and soap or bio-based materials.
Some commonly used marine greases include engine, hydraulic, compressors, slideways, gear, heat transfer and turbine oils. They are hydrophobic in nature and exhibit various advantageous properties, such as high viscosity index, thermal resistance and minimal rusting and oxidation. They also act as sealants to prevent water from entering the vessels. As a result, they are widely used in bulker, tanker, container and passenger ships, along with service, special purpose and offshore vessels.
Significant growth in the shipping industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, increasing international trade activities and the development of new waterways are providing a thrust to the market growth. Marine greases are widely used for maintaining the efficiency of the vessels.
They offer a wider temperature range, high mechanical and thermal stability, corrosion protection and longer lubrication intervals. In line with this, the increasing requirement for high engine performance and protection is also resulting in the widespread adoption of marine cylinder oils.
Additionally, various product innovations, such as the development of bio-based and environment-friendly marine lubricants, are acting as other growth-inducing factors. These novel variants are manufactured using renewable and non-bio accumulative materials with low sulfur levels.
Other factors, including rising expenditure capacities of the consumers, along with the implementation of favorable government policies promoting marine trade activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global marine grease market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on thicker type and end use.
Breakup by Thicker Type:
Breakup by End Use:
Breakup by Region:
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/5bdjsg
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Waste-to-Energy (WtE) Market - Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)" report has been added to ResearchAndMarkets.com's offering.
Over the next few decades, the rate of generation of municipal solid waste (MSW) will outweigh that of the urbanization worldwide. The situation is alarming, and estimations implicate more than 4 billion tons of municipal solid waste to be generated per year by the end of 2050. Voluminous growth in municipal and industrial waste generation forms a strong base for the establishment of waste-to-energy market.
The global waste-to-energy market has been thoroughly studied in a newly published report that reveals how the market growth will unfold during 2022 - 2029. Escalating investments in WtE technology, especially from the nations abiding by the Paris Climate Change Agreement is expected to fuel the growth of waste-to-energy market.
The report forecasts market revenue to reach nearly US$45.2 Bn in 2029, up from US$27.7 Bn attained in 2021. The market continues to be influenced by the regulatory guidelines about municipal solid waste management, says the report.
Key Insights and Trends Across Global Waste-to-energy Market
The waste-to-energy market report provides deep-dive analysis of the various market segments. Based on application, electricity generation currently contributes more than 64% to the overall market revenue and will clearly be the dominant area of application throughout the assessment period. On the other hand, based on the technology preferred for WtE conversion, thermal conversion technology is likely to remain the top segment in the waste-to-energy market. The segment currently accounts for over 75% market share in terms of value and will most likely continue to surge ahead because of a growing user perception about it as a viable means of reducing the load on landfills. In this segment, incineration will garner greater traction on the back of is higher operational feasibility, and economic viability.
Europe, and North America Reflect High Growth Potential, Asia Pacific Leads the Way in Waste-to-energy Market
Asia Pacific spearheads global waste-to-energy market with presence of the maximum number of operational WtE facilities. China will retain the lead in terms of the total installed base while the report also highlights the other key markets of Asia Pacific, viz., India, Japan, South Korea, and Australia. The region's improving scenario around renewable energy generation, and sustainable waste treatment are likely to contribute around 200 more new WtE facilities over the next decade. Furthermore, Europe that houses around 500 functional WtE facilities, follows Asia Pacific.
Europe's waste-to-energy market witnesses strong presence of some of the globally prominent companies in this space, including Veolia, Suez, and EQT AB, which will continue to support the market growth in the region. The report marks a significant role of European governments, in form of landfilling and carbon taxation, in creating a favorable breeding ground for waste-to-energy market. North America on the other side showcases an accelerating market with more than 200 newly established WtE plants in the region. The US is especially an untapped market with high growth potential. The nation has been lately witnessing a growing number of installations of new WtE plants.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Price Trends Analysis and Future Projects, 2018-2029
4. Global Waste to Energy (WtE) Market Outlook, 2018-2029
4.1. Global Waste to Energy (WtE) Market Outlook, by Technology, Capacity (Million Tons) and Value (US$ Mn), 2018-2029
4.1.1. Key Highlights
4.1.1.1. Thermal
4.1.1.1.1. Incineration
4.1.1.1.2. Pyrolysis
4.1.1.1.3. Gasification
4.1.1.2. Biological
4.1.2. BPS Analysis/Market Attractiveness/Comparison Matrix Analysis, by Technology
4.2. Global Waste to Energy (WtE) Market Outlook, by Application, Capacity (Million Tons) and Value (US$ Mn), 2018-2029
4.2.1. Key Highlights
4.2.1.1. Electricity Generation
4.2.1.2. Steam Exports
4.2.1.3. Combined Heat & Power (CHP)
4.2.2. BPS Analysis/Market Attractiveness/Comparison Matrix Analysis, by Application
4.3. Global Waste to Energy (WtE) Market Outlook, by Region, Capacity (Million Tons) and Value (US$ Mn), 2018-2029
4.3.1. Key Highlights
4.3.1.1. North America
4.3.1.2. Europe
4.3.1.3. Asia Pacific
4.3.1.4. Rest of the World (RoW)
4.3.2. BPS Analysis/Market Attractiveness/Comparison Matrix Analysis, by Region
5. North America Waste to Energy (WtE) Market Outlook, 2018-2029
6. Europe Waste to Energy (WtE) Market Outlook, 2018-2029
7. Asia Pacific Waste to Energy (WtE) Market Outlook, 2018-2029
8. Rest of the World (RoW) Waste to Energy (WtE) Market Outlook, 2018-2029
9. Competitive Landscape
10. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/5uivns
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DUBLIN--(BUSINESS WIRE)--The "Malaysia Diesel Generator Set Market Size & Share Analysis by Power Rating (5-75kVA, 76-375 kVA, 376-750 kVA, Above 750 kVA), Application (Commercial, Industrial, Residential) - Industry Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Malaysia diesel generator set market revenue was approximately $82.6 million in the year 2021, and it is predicted to rise at a growth rate of around 2% in the coming years, to $97.9 million by 2030.
The strong focus of the Government of Malaysia on infrastructure expansion, with plans to construct 1 million houses for homebuyers below the 40% income bracket by the year 2029, can be credited for this. Due to such efforts, the construction sector of Malaysia grew by around 15% in 2021 from 2020.
Generators with a rating of above 750 kVA witness the highest demand in the Malaysia diesel generator set market, and their sales are projected to grow at a rate of around 2% over this decade. The requirement for them mainly arises in the industrial sector. In the last two decades, Malaysia has accounted for 40% of the global HDD production, and it continues to be one of its major exporters.
In 2021, the commercial sector was the largest contributor to the Malaysia diesel generator set market. Over the last ten years, Malaysia has become significant for medical tourism, ICT, and logistics services. Furthermore, numerous MNCs have set up their offices in Malaysia as it has a promising business and consumer environment, an affinity for the products of the U.S., established infrastructure and legal framework, and an aptitude to make profits.
There is a continuous increase in the demand for energy in Malaysia; however, the existing supply is not adequate, hence giving rise to frequent power cuts, chiefly because of natural disasters. The risk of floods and tsunamis in the country is perpetually high; for example, in December 2021, TNB briefly shut down 333 power substations in six states, as a safety measure. This affected 17,251 consumers in Pahang, 5,062 in Selangor, 4,450 in the country's capital, 284 in Negeri Sembilan, 470 in Kelantan, and 634 in Melaka.
Major companies in the Malaysia diesel generator set market are engaging in the introduction of new products to remain ahead of competitors.
For example, Cummins Inc. launched in September 2021 the NEW EC-AGS+ wireless system for controlling Onan diesel and gas generator sets. It lets users control their generators with a mobile application, which also permits automatic, manual, and voice activation to start the generators, offers reminders for maintenance, through Bluetooth; and allows for climate monitoring.
Company Profiles
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Industry Outlook
4.1 Definition of Market Segments
4.1.1 By Power Rating
4.1.1.1 5-75 kVA
4.1.1.2 76-375 kVA
4.1.1.3 376-750 kVA
4.1.1.4 Above 750 kVA
4.1.2 By Application
4.1.2.1 Commercial
4.1.2.1.1 Retail establishments
4.1.2.1.2 Offices
4.1.2.1.3 Telecom towers
4.1.2.1.4 Hospitals
4.1.2.1.5 Hotels
4.1.2.1.6 Others
4.1.2.2 Industrial
4.1.2.2.1 Manufacturing
4.1.2.2.2 Energy & power
4.1.2.2.3 Others
4.1.2.3 Residential
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Technological advancements in diesel gensets
4.2.2 Drivers
4.2.2.1 Rising number of residential societies
4.2.2.2 Poor grid infrastructure and rising frequency of power outages
4.2.3 Impact Analysis of Drivers on Market Forecast
4.2.4 Restraints
4.2.4.1 Increasing penetration of renewable sources
4.2.5 Impact Analysis of Restraints on Market Forecast
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
Chapter 5. Malaysia Market Size and Forecast
5.1 Overview
5.2 Market Volume, by Power Rating (2017-2030)
5.3 Market Revenue, by Power Rating (2017-2030)
5.4 Market Volume, by Application (2017-2030)
5.4.1 Commercial Market Volume, by User
5.4.2 Commercial Market Volume, by Power Rating
5.4.3 Industrial Market Volume, by User
5.4.4 Industrial Market Volume, by Power Rating
5.5 Market Revenue, by Application (2017-2030)
5.5.1 Commercial Market Revenue, by User
5.5.2 Commercial Market Revenue, by Power Rating
5.5.3 Industrial Market Revenue, by User
5.5.4 Industrial Market Revenue, by Power Rating
Chapter 6. Competitive Landscape
6.1 List of Market Players and Their Offerings
6.2 Market Share Analysis of Key Players
6.3 Recent Strategic Developments of Key Players
Chapter 7. Company Profiles
7.1 Business Overview
7.2 Product and Service Offerings
7.3 Key Financial Summary
For more information about this report visit https://www.researchandmarkets.com/r/ct3xy6
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DUBLIN--(BUSINESS WIRE)--The "Battery Management System Market - Global Industry Analysis (2019 - 2021), Growth Trends, and Market Forecast (2022 - 2029)" report has been added to ResearchAndMarkets.com's offering.
The rapid expansion of e-mobility, and renewables sector are collectively underpinning the strong growth outlook of battery management system market. With green energy spreading its roots faster, demand for battery management systems will see an incessant rise.
The study has estimated the global battery management system market size to reach US$28.4 Bn in 2029, up from the revenue of US$4.6 Bn recorded in the year 2019. While report has considered 2022 - 2029 as the period of assessment, it forecasts a stellar 19.8% CAGR for the battery management system market.
While the report points to a continuous stream of revenue generation opportunities with the rocketing sales of electric and hybrid electric vehicles, the report also marks a growing trend of demand surge in chargeable batteries, which would provide a strong tailwind to battery management system sales.
Key Research Insights and Trends Across Battery Management System Market
Li-ion Battery Top Demand Generator, Modular Topology Likely to Emerge Profitable in Battery Management System Market
The market analysis by battery type shows clear dominance of lithium-ion battery segment on the back of widespread adoption of Li-ion batteries across multiple industries. Automotive, and consumer electronics are expected to remain the key segments consuming Li-ion batteries that further generate unwavering demand for battery management systems. The lithium-ion battery segment accounts for more than 41% revenue share in the battery management system market, says the report.
Furthermore, based on application, automotive battery management systems retain the lead against the battery management systems employed by the other key segments, including consumer electronics, energy storage, military and defense, healthcare, renewable energy, and telecommunication. The report indicates attractive business opportunities arising in power generation, and communication industries, after automotive over the next few years. On the other hand, analysis of the battery management system market in terms of topology reveals the top position of distributed topology segment that currently captures over 50% market value share. Centralized topology segment follows, whereas the modular topology segment will most likely emerge lucrative in the near term as it gains traction across industries like electric cars, commercial drones, energy storage systems, and medical mobility vehicles.
Developed Western Markets Surge Ahead in Battery Management System Market, Asia Pacific Reflects Higher Growth Potential
North America's pre-eminence in global battery management system market is likely to prevail throughout the period of projection. The report says the region benefits largely from the strong foothold of some of the top battery management system makers in the world, as well as the rapidly flourishing SME sector. North America currently accounts for nearly 30% revenue share in the market and will maintain the same through the end of forecast year. The region has been projected to display more than 19% growth during 2022 - 2029. The rocketing electric and hybrid electric vehicle sales will remain a major contributor toward the growth of North America's battery management system market, says the report.
Europe also is poised to be a key market and currently accounts for a collective market share of more than 55% along with North America. The report spots ample opportunity in Asia Pacific as well, as the region currently accounts for over 25% share in the overall market valuation. The global hub for automotive, and consumer electronics manufacturing, Asia Pacific is all set to reflect high growth potential and demonstrate the fastest rate of growth during the projection period.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Global Battery Management System Market Outlook, 2019 - 2029
3.1. Global Battery Management System Market Outlook, by Battery (US$ '000), 2019 - 2029
3.1.1. Key Highlights
3.1.1.1. Lithium-ion
3.1.1.2. Advanced Lead-acid
3.1.1.3. Others
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Battery Management System Market Outlook, by End user, Value (US$ '000), 2019 - 2029
3.2.1. Key Highlights
3.2.1.1. Automotive & Transportation
3.2.1.2. Military & Defense
3.2.1.3. Energy & Utility
3.2.1.4. Healthcare
3.2.1.5. Consumer Electronics
3.2.1.6. Telecommunications
3.2.1.7. Others (Industrial, Marine, etc.)
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Battery Management System Market Outlook, by Topology, Value (US$ '000), 2019 - 2029
3.3.1. Key Highlights
3.3.1.1. Centralized
3.3.1.2. Distributed
3.3.1.3. Modular
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Battery Management System Market Outlook, by Application, Value (US$ '000), 2019 - 2029
3.4.1. Key Highlights
3.4.1.1. Electric Vehicles
3.4.1.2. Computing Devices
3.4.1.3. Renewable Energy Systems
3.4.1.4. UPS (Uninterrupted Power Supply)
3.4.1.5. Industrial Systems
3.4.1.6. Others (Personal Mobility Instruments, Robotic Boats & ROVs, etc.)
3.4.2. BPS Analysis/Market Attractiveness Analysis
3.5. Global Battery Management System Market Outlook, by Region, Value (US$ '000), 2019 - 2029
4. North America Battery Management System Market Outlook, 2019 - 2029
5. Europe Battery Management System Market Outlook, 2019 - 2029
6. Asia Pacific Battery Management System Market Outlook, 2019 - 2029
7. Latin America Battery Management System Market Outlook, 2019 - 2029
8. Middle East & Africa Battery Management System Market Outlook, 2019 - 2029
9. Competitive Landscape
10. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/k6mcpj
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DUBLIN--(BUSINESS WIRE)--The "Solar District Heating Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global solar district heating market is expected to grow from $2.52 billion in 2021 to $2.73 billion in 2022 at a compound annual growth rate (CAGR) of 8.14%. The solar district heating market is expected to grow to $3.77 billion in 2026 at a compound annual growth rate (CAGR) of 8.42%.
The different types of systems in solar district heating include small systems and large systems. The small solar heating district system refers to systems with less than 1000 m2 of solar collector area and less than 1000 m3 of seasonal thermal energy storage volume. Solar district heating systems are widely used in residential, commercial, and industrial applications.
Western Europe was the largest region in the solar district heating market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar district heating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing adoption of sustainable energy is driving the growth of the solar district heating market. The governments, residents and industries across the globe are focusing on adopting sustainable energy to decrease the dependency on conventional energy consumption and increase the utilization of clean energy such as solar, wind, hydropower, and bioenergy.
The growing adoption of sustainable energy is expected to boost the utilization of solar district heating systems, as they offer the most cost-effective heating solutions to the commercial, residential and industrial customers, over the existing heating solutions. According to the International Energy Agency (IEA) Renewable Energy Market Update 2021, Net renewable capacity additions in 2022 are estimated to increase from 269.9GW in 2021 to 279.6GW in 2022. Solar renewable energy expansion to increase from 145W in 2021 to 162GW in 2022. Thus, the growing adoption of sustainable energy is expected to boost the utilization of solar district heating during the forecast period.
Strategic collaborations and partnerships are the key trends in the solar district heating market. The key players in the solar district heating market are entering into a strategic partnership with technology-based companies to develop technologically developed systems and expand their business operations across the globe.
For instance, In May 2022 ENGIE Africa, a South African-based natural gas and energy company, inked a collaboration agreement with Gabon's Ministry of Energy. The project's purpose is to electrify off-grid families around the country by selling and delivering high-quality solar home system kits.
Reasons to Purchase
Scope
Markets Covered:
1) By System: Small System; Large System
2) By Application: Residential; Commercial; Industrial
Key Topics Covered:
1. Executive Summary
2. Solar District Heating Market Characteristics
3. Solar District Heating Market Trends And Strategies
4. Impact Of COVID-19 On Solar District Heating
5. Solar District Heating Market Size And Growth
6. Solar District Heating Market Segmentation
7. Solar District Heating Market Regional And Country Analysis
8. Asia-Pacific Solar District Heating Market
9. China Solar District Heating Market
10. India Solar District Heating Market
11. Japan Solar District Heating Market
12. Australia Solar District Heating Market
13. Indonesia Solar District Heating Market
14. South Korea Solar District Heating Market
15. Western Europe Solar District Heating Market
16. UK Solar District Heating Market
17. Germany Solar District Heating Market
18. France Solar District Heating Market
19. Eastern Europe Solar District Heating Market
20. Russia Solar District Heating Market
21. North America Solar District Heating Market
22. USA Solar District Heating Market
23. South America Solar District Heating Market
24. Brazil Solar District Heating Market
25. Middle East Solar District Heating Market
26. Africa Solar District Heating Market
27. Solar District Heating Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Solar District Heating Market
29. Solar District Heating Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/j9odi6
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Laura Wood, Senior Press Manager
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SAN DIEGO--(BUSINESS WIRE)--EDF Renewables North America (EDF Renewables) announced today it has completed the transaction with Boralex Inc. (Boralex) (TSX: BLX) by which Boralex has acquired EDF Renewables’ 50-percent ownership interests in five operating wind power projects totaling 447 megawatts (MW) in Texas and New Mexico.
EDF Renewables put into service all five projects totaling 894 MW with commissioning dates between 2014 and 2015. The sale of assets represents an integral part of EDF Renewables’ business model to facilitate a balanced portfolio and advance funding for new project development.
PROJECT |
CAPACITY |
COMMISSIONING |
LOCATION |
Hereford |
200 MW |
2014 |
Deaf Smith County, Texas |
Longhorn |
200 MW |
2015 |
Floyd & Briscoe Counties, Texas |
Spinning Spur 3 |
194 MW |
2015 |
Oldham County, Texas |
Milo |
50 MW |
2015 |
Roosevelt County, New Mexico |
Roosevelt |
250 MW |
2015 |
Roosevelt County, New Mexico |
“Considering EDF Renewables’ extensive development capabilities throughout North America, divestures provide an opportunity to rebalance our portfolio of owned assets," said Luis Silva, Chief Financial Officer, EDF Renewables. “We are grateful to have worked constructively with the local stakeholders in Texas and New Mexico over the last decade and are pleased to partner with Boralex on this transfer of ownership.”
"Boralex is pleased to collaborate with EDF Renewables on this transaction,” said Patrick Decostre, President and Chief Executive Officer of Boralex. “EDF Renewables and Boralex share extensive experience in renewable energy production, and this acquisition furthers our shared goals of making a more sustainable planet for generations to come.”
Boralex will become the managing member of the partnership.
EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 24 GW of developed projects and 13 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group.
For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.
About Boralex
At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to 2.9 GW. We are developing a portfolio of close to 4 GW in wind and solar projects and close to 800 MW in storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise, and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.
For more information, visit www.boralex.com or www.sedar.com. Follow us on Facebook, LinkedIn and Twitter.
Sandi Briner, +1 858-521-3525
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DENVER--(BUSINESS WIRE)--Sitio Royalties Corp. (NYSE: STR) (“Sitio” or the “Company”) and Brigham Minerals, Inc. (“Brigham”) today announced the successful completion of their merger, combining as Sitio Royalties Corp. The combination brings together two of the largest public companies in the mineral and royalty sector with complementary high-quality assets in the Permian Basin and other oil-focused regions, creating an industry leader with a proven track record of consolidating oil and gas mineral and royalty interests operated by a diverse set of E&P companies.
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 260,000 NRAs through the consummation of over 185 acquisitions to date. More information about Sitio is available at www.sitio.com.
Forward-Looking Statements
This new release contains statements that may constitute “forward-looking statements” for purposes of federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Except as otherwise required by applicable law, Sitio disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. These statements include, but are not limited to, statements about the Company’s expected benefits of the merger between Sitio and Brigham; future dividends; and future plans, expectations, and objectives for the Company’s operations, including statements about strategy, synergies, future operations, financial position, prospects, and plans. Forward-looking statements are not guarantees of performance. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties that could cause our actual results, performance, and financial condition to differ materially from our expectations and predictions. See “Risk Factors” in Sitio and Brigham’s joint consent solicitation statement/proxy statement/prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 23, 2022 for a discussion of risk factors related to the merger between Sitio and Brigham. Additional information concerning these and other factors that may impact Brigham’s and Sitio’s expectations and projections can be found in Brigham’s periodic filings with the SEC, including Brigham’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and Sitio’s periodic filings with the SEC, including Sitio’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, Part II, Item 1A “Risk Factors” in Sitio’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Brigham’s and Sitio’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
IR contact:
Ross Wong
(720) 640–7647
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CPRA transaction advances coastal restoration, protects cultural sites, and enables $6+ million to be deployed to support community resiliency and development
PLAQUEMINES PARISH, La.--(BUSINESS WIRE)--Today, Tallgrass has announced an agreement with the Louisiana Coastal Protection and Restoration Authority (CPRA) for the sale of over 500 acres of property in Plaquemines Parish, Louisiana, to advance Governor John Bel Edwards’s efforts to restore the state’s eroding coastlines and better protect communities against hurricane damage by creating more wetlands to serve as a natural storm barrier.
“Our state is in a battle against time and the elements to shore up our coastlines before it’s too late. By prioritizing the people of Southeast Louisiana and advancing our hurricane preparedness, this agreement highlights the importance my Administration has placed on attracting companies to Louisiana who prioritize Louisianans,” said Governor John Bel Edwards.
Under the agreement, CPRA will be able to advance the Mid-Barataria Sediment Diversion at the site on mutually agreeable terms and without the exercise of eminent domain. Tallgrass will also have the right to continue its evaluation of potential renewable and clean energy developments at the site through collaboration with CPRA and the local community to ensure any development activities at the site will be consistent with the CPRA’s coastal diversion program while simultaneously protecting and preserving the history and future of the local community.
Additionally, CPRA and Tallgrass will create the Ironton & Southeast Louisiana Committee. The Committee will be comprised of members from Ironton and Plaquemines Parish as well as Tallgrass and CPRA and will develop a strategic plan to protect, preserve and memorialize the Saint Rosalie Plantation Cemetery.
These steps will be additive to Tallgrass’s previously established 50-acre, permanent, buffer-zone, which was created in 2020 to prohibit industrial development adjacent to the historic community of Ironton. The Committee will also have responsibility for identifying and recommending opportunities to invest at least $3 million to support community resiliency and development. Any renewable and clean energy development opportunities identified by Tallgrass for the site would also be subject to the measures implemented under the strategic plan.
“This agreement gets us one step closer to building a first-of-its-kind environmental infrastructure project that will fundamentally change our state's ability to fight land loss. It enables us to build a cornerstone project of our Coastal Master Plan and represents the kind of collaboration between community, government, and the private sector that is required to effectively restore our coast,” said CPRA Chairman, Chip Kline. “Tallgrass understands the challenges we’re facing in coastal Louisiana and has prioritized putting this land to its best use – creating a stronger, more resilient coastline that supports our entire state.”
Separately, pending the successful close of the transaction, Tallgrass is dedicating an additional $3 million from the proceeds of the site sale to advance social and economic development initiatives in the region. The first of these initiatives will be contributions to assist in the reconstruction of the Saint Paul Missionary Baptist Church as well as other needs of the community of Ironton due to damage suffered from Hurricane Ida.
“For so many years, this community has been neglected. I appreciate Tallgrass’s willingness to contribute wherever needed and their decision to remain a part of our community. I look forward to our discussions about preserving the Saint Rosalie Plantation Cemetery as well as ensuring the health and well-being of Ironton,” said Rev. Dr. Haywood Johnson Jr., Pastor of Saint Paul Missionary Baptist Church.
“When we started with the property in Plaquemines Parish, we set out to be a partner of Ironton and Southeast Louisiana for the long-haul. While our development plans changed over time – our commitment to the community remains unchanged,” said Matt Kegg, Director of Terminals at Tallgrass. “We are thankful for what these initiatives enable us to do for the community of Ironton, Plaquemines Parish, and Louisiana more broadly, and we appreciate everyone’s efforts to begin this new chapter, together.”
The transaction is expected to close in the first quarter of 2023 subject to customary approvals and closing conditions.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected benefits of the transaction, including statements regarding the use of the site by CPRA and Tallgrass; the creation, composition and future actions of the Ironton & Southeast Louisiana Committee; the deployment of $3 million of proceeds by Tallgrass; and whether the transaction will close in the first quarter of 2023 or at all. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.
Tallgrass Media Inquiries
Steven Davidson, 817-988-4284
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DUBLIN--(BUSINESS WIRE)--The "Global Hydraulic Fluids Market by Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), Point of Sale (OEM, Aftermarket), End-Use Industry (Construction, Metal & Mining, Power Generation, Oil & Gas, Transportation), Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global hydraulic fluids market size is projected to reach USD 9.6 billion by 2027 from USD 8.2 billion in 2022, at a CAGR of 3.2%. In a hydraulic system, kinetic and potential energy are largely transported by hydraulic fluids. Typically, hydraulic fluids supply a volume flow in hydrostatic motors and pumps. Hydraulic fluids also help to lessen frictional piston assembly parts' wear and tear. Additionally hydraulic fluids also help in protecting internal systems from corrosion and abrasion brought on by external surroundings.
Synthetic oil was the second-largest base oil of the global hydraulic fluids market, in terms of value, in 2021
Synthetic oil was the second-largest base oil in the global hydraulic fluids market, in terms of value, in 2021. Increasing demand for synthetic oil is due to its superior performance. Synthetic based hydraulic fluid is formulated to with chemicals to perform better than mineral oil. Synthetic oil offers excellent performance at high temperature and has good oxidation capabilities. However, its high cost is impacting overall market share.
By end-use industry, construction accounted for the largest market share in global hydraulic fluids , in terms of value, in 2021
Construction was the largest segment in the global hydraulic fluids industry by end-use industry, in terms of value, in 2021. Rising construction activities globally is major factor for large market share for the construction segment. In addition, growing application of hydraulic fluids in earthmoving equipements in construction industry is driving the market growth. These equipements require special grade of hydraulic fluids for efficient functioning. Moreover, construction activities require machinery with reduced possibility of failure, downtime and better lifespan. Thus, hydraulic fluids are extensively used in this segment for smooth functioning of the equipment.
Asia Pacific is projected to be the fastest-growing market during the forecast period, in terms of both volume and value
Asia Pacific was the largest hydraulic fluids market, in terms of value, in 2021. It is also projected to be the fastest growing market during the forecast period. Rising construction activities in the region coupled with growing automotive and food industry is driving the demand in Asia Pacific. High growth markets like China, India and Thailand are aggressively investing in new construction activities.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydraulic Fluids Market, by Point of Sale
7.1 Introduction
7.2 OEM
7.3 Aftermarket
8 Hydraulic Fluids Market, by Base Oil
8.1 Introduction
8.2 Mineral Oil
8.3 Synthetic Oil
8.3.2 Polyalphaolefins (Pao)
8.3.3 Polyalkylene Glycols (Pag)
8.3.4 Esters
8.3.5 Group Iii (Hydrocracking)
8.4 Bio-Based Oil
9 Hydraulic Fluids Market, by End-Use Industry
9.1 Introduction
9.2 Construction
9.3 Metal & Mining
9.4 Agriculture
9.5 Oil & Gas
9.6 Transportation
9.6.2 Marine
9.6.3 Aviation
9.6.4 Automotive
9.7 Cement Production
9.8 Food Processing
9.9 Power Generation
10 Hydraulic Fluids Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent & Related Markets
14 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/o1pj6r
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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OMAHA, Neb.--(BUSINESS WIRE)--Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, will release its fourth quarter and full year earnings on Tuesday, February 7, 2023, after the market close. The company will also hold a conference call to discuss the fourth quarter and full year 2022 results and 2023 outlook on the same day, beginning at 4:00 p.m. CT.
The news release, live webcast of the earnings conference call, and accompanying slide presentation will be available at www.werner.com in the “Investors” section under “News & Events” and then “Events Calendar.” To participate in the conference call, please dial (844) 701-1165 (domestic) or (412) 317-5498 (international). Please mention to the operator that you are dialing in for the Werner Enterprises call.
A replay of the conference call will be available on February 7, 2023, at approximately 6:00 p.m. CT through March 7, 2023, by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international) and using the access code 6540190. A replay of the webcast will also be available at www.werner.com in the “Investors” section under “News & Events” and then “Events Calendar.”
About Werner Enterprises
Werner Enterprises, Inc. delivers superior truckload transportation and logistics services to customers across the United States, Mexico and Canada. With 2021 revenues of $2.7 billion, an industry-leading modern truck and trailer fleet, more than 14,000 talented associates and our innovative Werner EDGE technology, we are an essential solutions provider for customers who value the integrity of their supply chain and require safe and exceptional on-time service. Werner provides Dedicated and One-Way Truckload services as well as Logistics services that include truckload brokerage, freight management, intermodal and final mile. As an industry leader, Werner is deeply committed to promoting sustainability and supporting diversity, equity and inclusion.
John J. Steele
Executive Vice President, Treasurer
and Chief Financial Officer
(402) 894-3036
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Rayonier Advanced Materials Inc. (NYSE:RYAM) (the “Company”) announced today that the force majeure declared by its natural gas provider, Southern Natural Gas Company, L.L.C., due to an unscheduled outage of the Elba Express Pipeline’s Hartwell Compressor Station (the “SNG Force Majeure Event”, or “Event”) has been cancelled. The Event impacted natural gas supply to the Company’s facility in Jesup, Georgia, and has resulted in an estimated $4 million EBITDA impact to the Company. The Company continues to reserve all rights to more fully examine, and potentially contest, the validity of the financial penalty it has been assessed.
The full announcement from Southern Natural Gas can be found at: https://pipeline2.kindermorgan.com/Notices/NoticeDetail.aspx?code=SNG¬c_nbr=707625
About RYAM
RYAM is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada and France, RYAM employs just over 2,500 people and generated $1.4 billion of revenues in 2021. More information is available at www.RYAMglobal.com.
Forward-Looking Statements
Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to RYAMs’ future events, developments, or financial or operational performance or results, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “should,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. All statements made in this earnings release are made only as of the date set forth at the beginning of this release. The Company undertakes no obligation to update the information made in this release in the event facts or circumstances subsequently change after the date of this release. The Company has not filed its Form 10-Q for the quarter ended September 24, 2022. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time the Company files its Form 10-Q.
These forward-looking statements are also affected by the risk factors and forward-looking statements described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 26, 2022 and June 25, 2022, and those set forth from time to time in the Company’s filings with the Securities and Exchange Commission, which are available at www.RYAMglobal.com. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
Media
Ryan Houck, 904-357-9134
Investors
Mickey Walsh, 904-357-9162
AUSTIN, Texas--(BUSINESS WIRE)--Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham” or the “Company”) today announced the stockholders of the Company voted in favor of all proposals necessary for the closing of the previously announced merger (the “Merger”) between Brigham and Sitio Royalties Corp. (“Sitio”). The Merger is anticipated to close on December 29, 2022.
At the special meeting of Brigham stockholders held today, more than 81.2% of the shares of Brigham common stock were represented, and more than 99.7% of the votes cast were in favor of the Merger.
As previously announced, Brigham stockholders will receive 1.133 shares of Class A common stock of Snapper Merger Sub I, Inc. (“New Sitio”) for each share of Brigham Class A common stock owned and 1.133 shares of New Sitio Class C common stock for each share of Brigham Class B common stock owned. Brigham Minerals Holdings, LLC (“Opco LLC”) unitholders will receive 1.133 common units representing limited partnership interests in Sitio Royalties Operating Partnership, LP for each unit in Opco LLC owned.
At the close of trading today, Brigham Class A common stock will no longer be listed for trading on the New York Stock Exchange.
In addition, in connection with the closing of the Merger, Gayle Burleson, Jon-Al Duplantier, Richard Stoneburner and John (“J.R.”) Sult will join the New Sitio board of directors. Ms. Burleson, Mr. Duplantier, Mr. Stoneburner and Mr. Sult each served on Brigham’s board of directors until the closing of the Merger.
About Brigham Minerals, Inc.
Brigham is an Austin, Texas, based company that acquires and actively manages a portfolio of mineral and royalty interests in the core of some of the most active, highly economic, liquids-rich resource basins across the continental United States. Brigham’s assets are located in the Delaware and Midland Basins in West Texas and New Mexico, the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming, and the Williston Basin in North Dakota. Brigham’s primary business objective is to maximize risk-adjusted total return to its stockholders by both capturing organic growth in its existing assets as well as leveraging its highly experienced technical evaluation team to continue acquiring minerals.
Forward-Looking Statements
This communication relates to the proposed Merger between Brigham and Sitio and the information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the proposed Merger between Brigham and Sitio, the likelihood that the conditions to the consummation of the Merger will be satisfied on a timely basis or at all, Brigham’s and Sitio’s ability to consummate the Merger at any time or at all, the benefits of the Merger and the post-combination company’s future financial performance following the Merger, as well as the post-combination company’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used herein, including any oral statements made in connection herewith, the words “may,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions and the negative of such words and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Brigham’s and Sitio’s management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Such statements may be influenced by factors that could cause actual outcomes and results to differ materially from those projected. Except as otherwise required by applicable law, Brigham and Sitio disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Brigham and Sitio caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Brigham and Sitio. These risks include, but are not limited to, the post-combination company’s ability to successfully integrate Brigham’s and Sitio’s businesses and technologies; the risk that the expected benefits and synergies of the Merger may not be fully achieved in a timely manner, or at all; the risk that Brigham or Sitio will not, or that following the Merger, the combined company will not, be unable to retain and hire key personnel; the risk associated with Brigham’s and Sitio’s ability to obtain the approvals of their respective stockholders required to consummate the Merger and the timing of the closing of the Merger, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; the risk that any regulatory approval, consent or authorization that may be required for the Merger is not obtained or is obtained subject to conditions that are not anticipated; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; Sitio’s ability to finance the combined company (including the repayment of certain of Brigham’s indebtedness) on acceptable terms or at all; uncertainty as to the long-term value of the combined company’s common stock; and the diversion of Brigham’s and Sitio’s management’s time on transaction-related matters. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Brigham’s and Sitio’s expectations and projections can be found in Brigham’s periodic filings with the U.S. Securities and Exchange Commission (“SEC”), including Brigham Mineral’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and Sitio’s periodic filings with the SEC, including Sitio’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, Part II, Item 1A “Risk Factors” in Sitio’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Brigham’s and Sitio’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Brigham Minerals:
Blake C. Williams
Chief Financial Officer
(512) 220–1500
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HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced today that Senior Vice President and Chief Financial Officer Alan R. Curtis and Vice President, Corporate Development and Investor Relations, Mark Peterson, will meet with institutional investors at the Goldman Sachs Global Energy and Clean Technology Conference on Thursday, January 5, 2023.
The latest Investor Relations presentation is available on the Investor Relations page of Oceaneering's website at www.oceaneering.com.
Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries.
For more information on Oceaneering, please visit www.oceaneering.com.
Mark Peterson
Vice President, Corporate Development and Investor Relations
Oceaneering International, Inc.
713-329-4507
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ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (NYSE:KNOP) (“the Partnership”) today announced that the U.S. Treasury and Internal Revenue Service (“IRS”) final regulations concerning publicly traded partnerships that are taxed as partnerships for U.S. federal income tax purposes (“PTP”) that are coming into effect on January 1, 2023, will not affect its unitholders.
These regulations oblige brokers, withholding agents and qualified intermediaries to withhold a 10% tax on a non-U.S. partner’s disposition of an interest in a PTP. As a result, certain non-U.S. brokers may not permit non-U.S. persons to hold such PTP interests in their brokerage account.
KNOP elects to be treated as a C corporation for U.S. federal income tax purposes and therefore interests in the Partnership are not subject to these regulations.
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.
KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 1224 618 420
HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (“Enterprise” NYSE: EPD) today announced that Rebecca G. “Becca” Followill has been elected as a director on the board of Enterprise’s general partner, Enterprise Products Holdings LLC, effective January 1, 2023. Mrs. Followill has also been appointed to serve on the board’s Audit and Conflicts Committee.
Mrs. Followill, a petroleum engineer, has thirty-eight years of energy industry experience, including twenty-five years providing analysis and assessing the valuations and competitiveness of public and private companies as a securities analyst. She recently retired from U.S. Capital Advisors as a Senior Managing Director. Prior to U.S. Capital Advisors, Mrs. Followill served in senior roles at Tudor, Pickering, Holt, & Co., Howard Weil, Inc. and Merrill Lynch. She began her career as a reservoir engineer for Tenneco Oil Company. Mrs. Followill serves on the board of the Texas A&M Petroleum Ventures Program. She was also named to Hart Energy’s list of 25 Influential Women of Energy.
“We are pleased to add Becca to our board,” said A. J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “Her knowledge of the energy industry spans from the wellhead to the burner tip, consistent with the breadth of our integrated midstream system. She will provide additional insights to the equity capital markets, which will be complementary to our board.”
Enterprise also announced that Richard S. Snell has been appointed to serve as an advisory director. Mr. Snell previously served as a director on the board of Enterprise’s general partner and a member of its Audit and Conflicts Committee since 2011.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Randy Burkhalter, Investor Relations (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Atwell has entered into a definitive agreement to acquire Dempsey Surveying Company, a land surveying firm based in Cleveland, Ohio. This acquisition, the third transaction announced by Atwell this quarter, will expand the company’s presence in Ohio and surveying capabilities in the Midwest. The deal is expected to close by Dec. 31, 2022.
Dempsey Surveying Company’s services include topographic surveys, construction staking, boundary services, Federal Emergency Management Agency (FEMA) flood elevation certificates, surface model TINs, Global Positioning System (GPS) services, aerial mapping, and drone services.
“We’re pleased to combine the knowledge, technical capabilities, and experience of these two successful companies,” said William W. Anderson, Senior Vice President of Atwell. “Our shared priorities of providing proactive solutions and excellent client service will strengthen our ability to deliver quality projects that achieve our clients’ goals.”
Dempsey Surveying Company has a wide range of clients across several markets including industrial, commercial, public utilities, and more. The company maintains more than 50 years of survey records.
“We’re excited to join the team at Atwell and look forward to being able to expand the services we offer to our existing and future clients,” said Christopher Dempsey, Chief Executive Officer of Dempsey Surveying Company. “This acquisition provides new opportunities for both our clients and team members.”
Since 1985, Christopher Dempsey has been providing surveying services throughout Ohio as a second-generation surveyor. He started Dempsey Surveying Company in 2002 with the sole focus on surveying and providing exceptional service.
This is Atwell’s third acquisition this quarter. Last month, Atwell financed the acquisition of Cross Surveying, a 28-person land surveying firm based in Florida, and acquired Ben Dyer Associates, a 55-person engineering firm based in Maryland.
Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country totaling more than 1,400 team members. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
Timothy Augustine, Chief Corporate Officer: ATWELL, LLC 248.447.2005 This email address is being protected from spambots. You need JavaScript enabled to view it.
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