MILWAUKEE--(BUSINESS WIRE)--The Manitowoc Company, Inc. (NYSE: MTW) announced that President and Chief Executive Officer Aaron H. Ravenscroft and Executive Vice President and Chief Financial Officer David J. Antoniuk will present at the Baird Virtual Industrial Conference on Wednesday, November 10, 2021.

The presentation is scheduled from 1:25 to 1:55 p.m. ET. A link to the live audio webcast of the presentation and presentation materials can be accessed from Manitowoc’s Investor Relations website ahead of the event at http://ir.manitowoc.com. The webcast will be available for replay at the same link.

About The Manitowoc Company, Inc.

The Manitowoc Company was founded in 1902 and has over a 118-year tradition of providing high-quality, customer-focused products and support services to its markets. Manitowoc is one of the world's leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain and Shuttlelift brand names.

Ion Warner
Vice President, Marketing and Investor Relations
+1 414-760-4805

HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a binding liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Sinochem Group Co., Ltd (“Sinochem Group”).

Under the SPA, Sinochem Group has agreed to purchase an initial volume of approximately 0.9 million tonnes per annum (“mtpa”) beginning in July 2022, which increases to 1.8 mtpa. The SPA has a term of approximately 17.5 years and Sinochem Group will purchase the LNG volumes on a free-on-board basis. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.

“We are pleased to announce this long-term LNG contract with Sinochem Group, one of China’s leading state-owned energy companies, and to further Cheniere’s role in providing clean, affordable and reliable energy to the Chinese market for many years to come,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA once again demonstrates Cheniere’s ability to tailor solutions in order to meet the needs of LNG consumers worldwide, which is enabled by the scale of our platform and the reliability of our operations. In addition, the SPA further reinforces our commercial momentum, and once again confirms the strength of the global LNG market and the global call for investment in additional LNG capacity, including our Corpus Christi Stage 3 project.”

The Corpus Christi Stage 3 project is being developed to include up to seven midscale liquefaction trains with a total expected nominal production capacity of over 10 mtpa. It has received all necessary regulatory approvals.

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or commissioning. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission.

About Sinochem Group

Headquartered in Beijing, China, Sinochem Group was founded in 1950. It is a state-owned enterprise, one of China’s four largest state oil companies, a leading chemical service provider, one of the largest agricultural inputs (fertiliser, seed and agrochemicals) companies and an integrated modern agricultural service operator. Sinochem Group has established five strategic business units: energy, chemicals, agriculture, real estate and finance. It operates more than 300 subsidiaries around the world. It holds a controlling stake in a number of listed companies, including Sinochem International, Sinofert and China Jinmao. Sinochem Group has over 60,000 staff around the world.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings 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 or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.

Cheniere Energy, Inc.

Investors
Randy Bhatia, 713-375-5479

Media Relations
Eben Burnham-Snyder, 713-375-5764

MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) senior management will be presenting at the 2021 EEI Financial Conference in Hollywood, Florida, November 7-9, 2021.

The presentation is available on MGE Energy's website at:

2021 EEI Presentation

About MGE Energy

MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.3 billion, and its 2020 revenues were approximately $539 million.

Investor relations contact
Ken Frassetto
Director Shareholder Services and Treasury Management
T: 608-252-4723 | M: 608-843-6166 | This email address is being protected from spambots. You need JavaScript enabled to view it.

•  Lower quarterly revenue driven by the effects of milder weather
• Strong operational performance, increased sales and customer growth help offset weather impacts
• Company to pursue legal challenges following recent rate case decision

PHOENIX--(BUSINESS WIRE)--Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders for the 2021 third quarter of $339.8 million, or $3.00 per diluted share. This result compares with net income of $346.4 million, or $3.07 per share, for the same period a year ago.

The lower third-quarter 2021 results were largely impacted by weather that was less intense than the same period a year ago, when a historic heatwave and record temperatures helped push revenues upward. Other factors affecting the recent quarter include higher depreciation expense, partially offset by higher customer usage, 2.3% customer growth, increased transmission revenue, higher pension and other post-retirement non-service credits, and lower operations and maintenance expense.

“Our most important accomplishment – especially during the hot Arizona summer months – is maintaining the high quality of service and reliability our customers count on and expect of us,” said Pinnacle West Chairman, President and Chief Executive Officer Jeff Guldner. “Our diverse generation fleet – including critical baseload generating stations like Palo Verde and Four Corners – performed well, ensuring we met increased customer demand, while helping avoid reliability challenges faced in other states. At the same time, disciplined cost management remained a central theme for our employees.”

Guldner said the 2021 summer season presented several operational challenges, including more than 1,400 statewide wildfires that burned about 300,000 acres across Arizona Public Service Co.’s (APS) service territory; an active monsoon season that necessitated the replacement of 273 poles damaged by storms; and intense triple-digit heat that routinely characterizes Arizona summers.

According to the National Weather Service, Phoenix experienced 22 days of 110-plus degree temperatures (compared to 53 last year) with the hottest day this summer hitting 118 degrees on June 17. That day was the high mark of a record string of six consecutive days of 115-plus degree temperatures (June 15-20). Even with the fast start to summer, this year’s third-quarter cooled off, and temperatures were milder than the same period a year ago, when an extraordinary run of excessive heat contributed to Arizona’s hottest summer on record. Residential cooling degree-days (a utility’s measure of the effects of weather) in the 2021 third quarter decreased 27.5% compared to the same timeframe a year ago and were 10.6% lower than historical 10-year averages. Additionally, the Phoenix metropolitan’s summer monsoon proved to be the third wettest over the last 41 years, helping lower overall temperatures.

“The past quarter saw the APS Promise of a renewed commitment to our customers in action, both in the field and behind the scenes,” Guldner added. “By focusing on operational excellence and keeping customers’ experience front of mind, our employees continued to deliver value to our customers and shareholders – all while serving one of the fastest-growing service territories in the U.S. and still dealing with the ongoing pandemic.”

Rate Case Outcome and Next Steps

Earlier this week, the Arizona Corporation Commission (ACC) voted on the APS 2019 rate case following multiple days of contentious deliberation. The distinctly unfavorable decision contains numerous elements that are problematic, including:

- A total bill decrease of $4.8 million, including the effect of adjustors, but excluding temporary Coal Community Transition impacts;

- Disallowance of a portion of the Four Corners Power Plant emission control assets of $216 million in a wrongful application of the state’s well-established standard of prudence; and

- A cut in the company’s return on equity from 10 percent to 8.7 percent – the lowest for any mid- to large-sized vertically integrated, investor-owned utility in the U.S. with 2020-2021 rate case results.

"Our most important responsibility is to our customers, who depend on APS for the energy infrastructure that will power Arizona’s prosperity far into the future. The ACC’s decision ignores that crucial responsibility,” Guldner emphasized. “While customers will see some benefits from this decision – including greater bill assistance for those in need – the Commission failed to recognize that we are among the fastest-growing states in the nation and need to attract capital to fund the growth and economic development that our state is experiencing. Their overall decision ultimately will raise costs for customers and makes it more difficult for APS to support growth in Arizona.”

Guldner reiterated that the ACC’s decision leaves the company with no choice but to pursue legal challenges.

Financial Outlook

Following the recent conclusion of APS’s rate case, the company expects its 2021 full-year ongoing consolidated earnings will be within a range of $5.25 to $5.35 per diluted share on a weather-normalized basis. Looking ahead to 2022, the Company estimates its ongoing consolidated earnings will be within a range of $3.80 to $4.00 per diluted share.

Key factors and assumptions underlying both the 2021 and 2022 outlook can be found in the third-quarter 2021 earnings presentation slides at pinnaclewest.com/investors.

Conference Call and Webcast

Pinnacle West invites interested parties to listen to the live webcast of management’s conference call to discuss the Company’s financial results and recent developments, and to provide an update on the company’s long-term financial outlook, at noon ET (9 a.m. Arizona time) today, Nov. 5. The webcast can be accessed at pinnaclewest.com/presentations and will be available for replay on the website for 30 days. To access the live conference call by telephone, dial (888) 506-0062 or (973) 528-0011 for international callers and enter participant access code 360712. A replay of the call also will be available at pinnaclewest.com/presentations or by telephone until 11:59 p.m. ET, Friday, Nov. 12, 2021, by calling (877) 481-4010 in the U.S. and Canada or (919) 882-2331 internationally and entering passcode 37822.

General Information

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of approximately $22 billion, about 6,300 megawatts of generating capacity and more than 6,000 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to more than 1.3 million Arizona homes and businesses. For more information about Pinnacle West, visit the company’s website at pinnaclewest.com.

Earnings per share amounts in this news release are based on average diluted common shares outstanding. For more information on Pinnacle West’s operating statistics and earnings, please visit pinnaclewest.com/investors.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements based on current expectations. These forward-looking statements are often identified by words such as "estimate," "predict," "may," "believe," "plan," "expect," "require," "intend," "assume," "project," "anticipate," "goal," "seek," "strategy," "likely," "should," "will," "could," and similar words. Because actual results may differ materially from expectations, we caution readers not to place undue reliance on these statements. Several factors could cause future results to differ materially from historical results, or from outcomes currently expected or sought by Pinnacle West or APS. These factors include, but are not limited to:

• the potential effects of the continued COVID-19 pandemic, including, but not limited to, demand for energy, economic growth, our employees and contractors, supply chain, expenses, capital markets, capital projects, operations and maintenance activities, uncollectable accounts, liquidity, cash flows or other unpredictable events;
• our ability to manage capital expenditures and operations and maintenance costs while maintaining reliability and customer service levels;
• variations in demand for electricity, including those due to weather, seasonality (including large increases in ambient temperatures), the general economy or social conditions, customer and sales growth (or decline), the effects of energy conservation measures and distributed generation, and technological advancements;
• the potential effects of climate change on our electric system, including as a result of weather extremes such as prolonged drought and high temperature variations in the area where APS conducts its business;
• power plant and transmission system performance and outages;
• competition in retail and wholesale power markets;
• regulatory and judicial decisions, developments and proceedings;
• new legislation, ballot initiatives and regulation, including those relating to environmental requirements, regulatory and energy policy, nuclear plant operations and potential deregulation of retail electric markets;
• fuel and water supply availability;
• our ability to achieve timely and adequate rate recovery of our costs through our rates and adjustor recovery mechanisms, including returns on and of debt and equity capital investment;
• our ability to meet renewable energy and energy efficiency mandates and recover related costs;
• the ability of APS to achieve its clean energy goals (including a goal by 2050 of 100% clean, carbon-free electricity) and, if these goals are achieved, the impact of such achievement on APS, its customers, and its business, financial condition and results of operations;
• risks inherent in the operation of nuclear facilities, including spent fuel disposal uncertainty;
• current and future economic conditions in Arizona, including in real estate markets;
• the direct or indirect effect on our facilities or business from cybersecurity threats or intrusions, data security breaches, terrorist attack, physical attack, severe storms, or other catastrophic events, such as fires, explosions, pandemic health events, or similar occurrences;
• the development of new technologies which may affect electric sales or delivery;
• the cost of debt and equity capital and the ability to access capital markets when required;
• environmental, economic and other concerns surrounding coal-fired generation, including regulation of greenhouse gas emissions;
• volatile fuel and purchased power costs;
• the investment performance of the assets of our nuclear decommissioning trust, pension, and other postretirement benefit plans and the resulting impact on future funding requirements;
• the liquidity of wholesale power markets and the use of derivative contracts in our business;
• potential shortfalls in insurance coverage;
• new accounting requirements or new interpretations of existing requirements;
• generation, transmission and distribution facility and system conditions and operating costs;
• the ability to meet the anticipated future need for additional generation and associated transmission facilities in our region;
• the willingness or ability of our counterparties, power plant participants and power plant landowners to meet contractual or other obligations or extend the rights for continued power plant operations; and
• restrictions on dividends or other provisions in our credit agreements and Arizona Corporation Commission orders.

These and other factors are discussed in Risk Factors described in Part 1, Item 1A of the Pinnacle West/APS Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in Part II, Item 1A of the Pinnacle West/APS Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, which readers should review carefully before placing any reliance on our financial statements or disclosures. Neither Pinnacle West nor APS assumes any obligation to update these statements, even if our internal estimates change, except as required by law.

Media Contact: Alan Bunnell (602) 250-3376
Analyst Contact: Amanda Ho (602) 250-3334
Website: pinnaclewest.com

DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today announced that the company will present at the Morgan Stanley Global Chemicals, Agriculture, and Packaging Conference at 8:45 am ET on November 10, 2021.

Investors who wish to access the live conference webcasts should visit the Investor Relations section of the company’s website at www.cfindustries.com. A replay of the webcasts will be available on the CF Industries Holdings, Inc. website until February 10, 2022.

About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.

Media
Chris Close
Director, Corporate Communications
847-405-2542 – This email address is being protected from spambots. You need JavaScript enabled to view it.

Investors
Martin Jarosick
Vice President, Investor Relations
847-405-2045 – This email address is being protected from spambots. You need JavaScript enabled to view it.

MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) Senior Vice President and Chief Financial Officer Jay Malave will present at Baird’s 2021 Global Industrial Conference on November 10, 2021.

The virtual event is scheduled to start at 9:40 a.m. ET. Remarks will be streamed (listen-only) at L3Harris.com. A replay will be available through the company’s website for seven days following the event.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

Rajeev Lalwani
Investor Relations
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321-727-9383

Jim Burke
Media Relations
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321-727-9131

KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern’s (KCS) (NYSE:KSU) Board of Directors on November 5, 2021 declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on January 18, 2022 to preferred stockholders of record at the close of business on December 31, 2021.

The Board of Directors also declared a regular dividend of $0.54 per share on the outstanding KCS common stock. This dividend is payable on January 19, 2022, to common stockholders of record at the close of business on December 31, 2021.

In the event the Company’s pending merger with Canadian Pacific Railway Limited, pursuant to the merger agreement dated September 15, 2021, closes before the record dates set forth above for such dividends, such dividends will not be paid. In such event, KCS common stockholders who receive CP common stock in the merger will be eligible to receive the CP dividend payable to holders of record of CP common stock on December 31, 2021, assuming they remain record holders of CP common stock on such date.

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.

KCS: Ashley Thorne, 816-983-1530, This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Autonomous Underwater Vehicle (AUV) Market With Covid-19 Impact by Type (Shallow AUVs, Medium AUVs, Large AUVs), Application (Military & Defense, Oil & Gas), Shape, Technology, Payload Type, Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The Autonomous underwater vehicle (AUV) market is estimated to be valued at USD 1.5 billion in 2021 and reach USD 4.3 billion by 2026, at a CAGR of 23.1% between 2021 and 2026.

The Increasing capital expenditure of companies in offshore oil & gas industry, and rising defense spending in several countries worldwide are the key factors driving the growth of the market. Likewise, Development and incorporation of advanced technologies in AUVs are expected to create lucrative opportunities for the players in the Autonomous underwater vehicle (AUV) market. However, high operational costs of AUVs are expected to restraint market growth.

Imaging segment will have highest growth in coming years.

Imaging segment is expected to account the largest share of the overall Autonomous underwater vehicle (AUV) market by 2026. The imaging segment of the market is projected to grow at the highest CAGR during the forecast period.

The imaging systems used in AUVs are capable of capturing pictures of the seabed and surrounding areas, which help researchers in oceanography or habitat research studies. Advancements in imaging technologies are expected to lead to increased use of AUVs in the oil & gas industry to carry out inspection activities. They are also used in the military & defense sector to carry out search operations

Large AUVs segment is expected to hold the largest share in 2026.

Increased demand for large AUVs in military & defense, oil & gas exploration, oceanography, search & salvage operations, and habitat research applications is fueling the growth of this market segment. The capability of large AUVs to operate at great depths (more than 1,000 m) makes them suitable for oceanography, habitat research, and search & salvage operations.

APAC is attributed to grow at the highest CAGR in overall Autonomous underwater vehicle (AUV) market during the forecast period (2021-2026).

APAC is expected to grow at the highest CAGR in the overall Autonomous underwater vehicle (AUV) market The rising need for energy, along with the high GDP growth rate, in developing APAC countries, is creating huge opportunities for the manufacturers of AUVs in this region.

Countries such as China, Japan, and India are now exploring the Indian Ocean for oceanographic research. The rising defense activities, including security and ASW, in these countries, are also contributing to the growth of the AUV market in APAC.

Competitive Landscape

Autonomous underwater vehicle (AUV) market was dominated by Kongsberg (Norway), Teledyne Technologies (US), Fugro (Netherlands), Bluefin Robotics (General Dynamics) (US), and Saab AB (Sweden).

Premium Insights

• Increasing Capital Expenditure in Offshore Industry Expected to Fuel Demand for Autonomous Underwater Vehicles from 2021 to 2026
• Military & Defense Segment to Hold Largest Share of AUV Market in 2026
• Military & Defense Segment and China to be Largest Shareholders of AUV Market in APAC in 2021
• Large AUV Segment to Account for Largest Size of AUV Market (Payload) in Terms of Value from 2021 to 2026
• Navigation Segment to Hold Largest Share of AUV Market in 2021
• North America to Hold Largest Share of AUV Market in 2021

Market Dynamics

Drivers

• Increasing Capital Expenditure of Companies in Offshore Oil & Gas Industry
• Rising Defense Spending in Several Countries Worldwide
• Increasing Focus on Use of Renewable Energy Sources

Restraints

• High Operational Costs of AUVs

Opportunities

• Development and Incorporation of Advanced Technologies in AUVs
• Upcoming Expansion of Internet Through 5G Driving Demand for Underwater Cables

Challenges

• Slow Underwater Survey Speed Owing to Use of Acoustic Communication
• Operational Hindrances Such as Natural Ocean Hazards and Bad Ocean Weather

Use Cases

• Powering a High Latitude Coastal Weather Buoy
• Expanding Hf Radar for Resiliency in Coastal Communities
• Powering AUV Docking Stations
• Powering Deep Ocean Tsunami Detection
• Powering a Drifting Profiler

Technology Analysis

• Internet of Things in Autonomous Underwater Vehicles
• Research on Standard Os for Robots and Autonomous Underwater Vehicles
• Artificial Intelligence Chips in Autonomous Underwater Vehicles

Company Profiles

Key Players

• Kongsberg
• Teledyne Technologies
• Bluefin Robotics
• Eca Group
• Lockheed Martin Corporation
• Saab Ab
• Fugro
• Atlas Elektronik GmbH
• L3Harris Technologies
• Boston Engineering Corporation

Other Company Profiles

• International Submarine Engineering (Ise)
• Tianjin Sublue
• Falmouth Scientific
• Terradepth
• Ecosub Robotics
• Eelume As
• Nido Robotics
• Hydromea
• Boeing
• Graal Tech
• Riptide Autonomous Solutions (Acquired by BAE Systems)

For more information about this report visit https://www.researchandmarkets.com/r/a2udr9

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it has priced an underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028. The Company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets. The offering is expected to close on or about November 10, 2021, subject to satisfaction of customary closing conditions.

B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. EF Hutton, division of Benchmark Investments, LLC, is acting as lead manager, and Aegis Capital Corp., Boenning & Scattergood, Inc., Colliers Securities LLC, Newbridge Securities Corporation, Revere Securities LLC, Wedbush Securities Inc. and B.C. Ziegler and Company are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the SEC). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209; Telephone: (703) 312-9580, or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Tellurian Inc.

Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL.”

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

Statements in this press release related to the Company’s public offering of senior notes and all other statements other than statements of historical fact are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. Tellurian urges you to carefully review and consider the cautionary statements made in this press release, the registration statement, the “Risk Factors” section of the preliminary prospectus supplement for the offering and of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and other filings with the SEC for further information on risks and uncertainties that could affect the Company’s business, financial condition and results of operations. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made. Tellurian undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this press release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward-looking statements are qualified in their entirety by this cautionary statement.

Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
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Investors:
Matt Phillips
Vice President, Investor Relations
Phone +1.832.320.9331
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AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that it has begun its nationwide Hypertruck ERX Marketing Roadshow, which will include visits with several Hypertruck Innovation Council members. The roadshow will be an opportunity for Hyliion to showcase the Hypertruck ERX pre-production demo unit, its next generation electric powertrain that is recharged by an onboard natural gas generator, enabling long-range hauling and quick refueling, and allowing fleets to potentially reach net-negative carbon emissions. The first stop on the tour will be the Wegmans Food Markets (“Wegmans”) headquarters in Rochester, NY on November 10th and 11th, 2021.

One of Hyliion’s recently completed Hypertruck ERX demonstration units will travel to the Wegmans facility for a two-day event featuring on-road demonstrations and ride-alongs. Representatives from Hyliion will provide in-depth education on the solution’s features and benefits, including the potential to support fleets’ decarbonization goals and to reduce total cost of ownership.

“We are excited to announce the launch of our nationwide Hypertruck ERX Roadshow with the first stop at the Wegmans headquarters in Rochester,” said Hyliion founder and CEO Thomas Healy. “This is a major step forward in our Hypertruck ERX commercialization process. We look forward to receiving feedback from these industry leaders and valued Council members as we continue to develop products to power today’s fleets with the solutions of the future.”

“Hyliion is particularly proud to play an important role in supporting Wegmans’ long-term commitment to sustainability and decarbonization. We aim to be the partner of choice for fleets on their journey to net-negative carbon emissions,” Healy added.

With over 100 stores across seven states, Wegmans has invested in numerous sustainability initiatives including a focus on reducing their carbon footprint. The regional supermarket chain has already seen success with the Hyliion products, with several of its operating trucks having been retrofitted with the Hyliion Hybrid solution over the last two years.

“Through the use of alternative fuels, electrification, and driver-efficiency initiatives, we have long focused on reducing greenhouse gas emissions and diesel fuel consumption in our truck fleet,” said Matt Harris, Wegmans sustainability manager for energy and fleet technology. “Collaborative partnerships with technology suppliers, like Hyliion, have played an important role in helping us achieve our fleet sustainability goals up to this point, and their continued innovation allows us to rethink the makeup of our fleet and what is truly possible in the future with the right combination of technologies. We’re excited for the opportunity to experience the Hypertruck ERX firsthand.”

Following the Wegmans stop, Hyliion will host similar ride-along events with additional Hypertruck Innovation Council members at its headquarters in Austin, TX in December, continuing to collect feedback that will be incorporated into future iterations of the Hypertruck ERX demo units. Hyliion is currently developing additional demonstration units that will be added to the marketing roadshow upon completion, allowing the company to offer more product demonstrations to more fleets.

About Hyliion

Hyliion Holdings Corp.’s (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Ryann Malone
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(833) 495-4466

Louis Baltimore
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(833) 495-4466

LOS ANGELES--(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 that it will release its third quarter 2021 financial results after market close on Monday, November 15th. This release will be followed by a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

The call can be accessed via a live webcast accessible on the Events Calendar page of Romeo Power’s Investor Relations website at https://investors.romeopower.com/. An archive of the webcast will be available shortly after the call for twelve months following the call.

About Romeo Power

Founded in 2016 and headquartered in Los Angeles, 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 hardware, 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, please follow the company on social @romeopowerinc or visit romeopower.com.

For Investors
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For Media.
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SAN FRANCISCO--(BUSINESS WIRE)--Clocks and calendars help us keep track of our busy lives and allow us to think about what lies ahead, either later today or later this month, it’s time to pay attention to those clocks and calendars.

As clocks go back one hour and wet weather returns this weekend, Pacific Gas and Electric Company (PG&E) offers energy saving and safety tips as the days get shorter and the rainy season continues.

This weekend, at 2 a.m. on Sunday, daylight saving time ends and clocks fall back one hour as much of the western United States returns to Pacific Standard Time. The time change means sunrise and sunset come sooner. And those shorter days require even more focus on driving safety.

And with the calendar flipped to November, we’re starting to see more frequent rain showers across much of Northern and Central California. That’s great news, but customers need to be prepared to do what needs to be done to stay safe during wet weather.

Here are some tips to help:

PG&E energy and safety tips for the time change

• Be sure to adjust timers so lights are not on during daylight or off in darkness, and consider adjusting sprinkler and pool pump timers.
• Use photo-sensitive lighting for outdoor lights that turn on in daylight and turn off at night.
• Adjust vehicle mirrors and visors as the earlier sunrise and later sunset may cause glare while driving at early morning and late afternoon. Use automotive glass cleaner on the inside of vehicle windows to remove vapor build up to improve visibility and prevent fogging.
• Be aware of pedestrians out walking in the early evening as sun sets or while dark.

PG&E tips to prepare for the rainy season

• Be sure to have flashlights or battery-operated lanterns with fresh batteries in case of power outages.
• Avoid using candles due to the fire risk.
• Keep cell phones, tablets and other devices charged in case of a power outage.
• If you have a landline, have available a corded telephone that doesn’t require electricity, or a battery-backup phone system so you can receive and make phone calls during a power outage.
• Put away or secure outdoor furniture and cushions to prevent wind and rain damage.
• If you see a downed power line, call 911 and stay away.
• To report a power outage and to get updates on your outage status, call 800-PGE-5002 or visit www.pge.com/outages

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

MEDIA RELATIONS:
415-973-5930

Leading the Organization’s internal and external Diversity, Equity, and Inclusion efforts

HOUSTON--(BUSINESS WIRE)--Maxine Buckles has been named Port Houston’s first-ever Chief Business Equity Officer reporting directly to Executive Director Roger Guenther. Buckles is responsible for implementing and administering diversity, equity, and training programs, including Port Houston’s new Minority- and Woman-Owned Business Enterprise Development Program and its successful Small Business Development Program.

In this newly created position, Buckles serves as a member of the Executive Leadership Team to ensure that diversity, equity, and inclusion (DEI) are infused into the Port culture. She also plays a pivotal role in creating a comprehensive strategy to launch, facilitate, and implement DEI initiatives across the organization.

Buckles previously served as Port Houston’s Chief Audit Officer responsible for planning and executing operational, financial, and compliance audits to evaluate the effectiveness of internal controls; and she monitored and coordinated all Port Authority audit activity. She has also held the position of Port Houston’s Corporate Controller.

Buckles is a Certified Public Accountant (CPA) and holds a Bachelor of Science degree in Accounting with honors from Xavier University of Louisiana and an MBA with an emphasis in Accounting from Tulane University.

She is a member of several professional organizations, including the Institute of Internal Auditors, National Black MBA Association (NBMBAA), Government Financial Officers Association (GFOA), National Association of Black Accountants (NABA) and Financial Executives International (FEI).

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.

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

DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that Amy Schwetz, senior vice president and chief financial officer, will present virtually at the Baird 2021 Global Industrial Conference on November 9, 2021, at 12:25-12:55 p.m. EST.

A webcast of the presentation will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

Safe Harbor Statement: This news release includes 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, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636

Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644

• BYD ADL Enviro400EV electric buses provide zero-emissions transportation for world leaders at COP26.
• VIP ‘passengers’ onboard included UK Prime Minister Boris Johnson and UN Secretary-General António Guterres, travelling to an evening reception hosted by HRH The Prince of Wales.
• BYD ADL Enviro400EV eBus also showcased in the prestigious Blue Zone at COP26.
• The eBuses are an excellent example of British-built, zero-emission public transportation utilising BYD’s world-leading expertise in batteries and integrated powertrain technology.

GLASGOW, Scotland--(BUSINESS WIRE)--BYD ADL pure-electric buses are playing a prominent role at COP26, the 26^th United Nations Climate Change Conference in Glasgow. A fleet of ten BYD ADL Enviro400EV double deck buses have provided zero-emissions VIP transportation for world leaders, including UK Prime Minister Boris Johnson and UN Secretary-General António Guterres, as they made the journey from the conference’s secure Blue Zone to an evening reception at Kelvingrove Art Gallery hosted by HRH The Prince of Wales.

The British-built eBuses, produced within the electric bus partnership between BYD and Alexander Dennis Ltd (ADL), demonstrate how electrification is braced to transform public transportation on a global level. The successful BYD ADL partnership, which utilises pioneering BYD battery and integrated powertrain technology, has to date delivered or taken orders for over 1000 zero-emission buses in the UK.

As the world’s leading eBus manufacturer, BYD has delivered over 68,000 electric buses around the globe, and over 500 pure-electric, British-built buses to customers in the UK. With 26 years of pioneering experience in battery research and development, production and application, BYD is the only automobile manufacturer to produce its own power train system, battery, motors and motor control system.

BYD ADL Enviro400EV electric buses were used for this privileged occasion to transfer dignitaries from around the world at COP26 following a collaboration between ADL and Stagecoach, the UK’s largest public transport operator. The double deck eBuses, built in Scotland as part of the BYD ADL partnership will be used for Stagecoach operations. They have been painted in Transport for London’s iconic red.

As the UK’s best-selling double deck electric bus, the BYD ADL Enviro400V is already in service in many public transport fleets nationwide. Its impressive driving range of 160 miles (257 km) and reputation for reliability makes it a viable choice for many bus operators.

An Enviro400EV double deck electric bus is also being exhibited in the prestigious Blue Zone at COP26. This follows ADL’s invitation from the UK Government to showcase its latest innovations in sustainable transport to negotiators and global leaders attending the conference. It has been kindly loaned by another BYD ADL customer and bus operator, National Express, from its West Midlands fleet.

The eBus on show in the Blue Zone is the perfect example of sustainable, clean and practical transportation. Its design and pioneering technology combined, is expected to draw strong global interest at the event as more countries implement transition to electrification, in a practical move towards net zero emissions and reduced air pollution.

Paul Davies, ADL President & Managing Director, said: “We’re delighted that world leaders have had the opportunity to ride on our world-leading double deck buses. COP26 is focused on finding solutions to the climate emergency and we are proud to have been able to demonstrate a zero-emission solution that is available right now. Clean electric buses are key to reducing transport emissions around the globe and encouraging modal shift to sustainable transport modes. Zero-emission buses are available today and ready to be rolled out at scale.

“We are particularly delighted that Prime Minister Boris Johnson, as an avowed supporter of British-built zero-emission buses, was able to show world colleagues the level of innovation and expertise offered by Britain’s world-class bus manufacturing industry.”

Isbrand Ho, Managing Director, BYD Europe B.V., said: “We are proud to see BYD ADL eBuses being experienced first-hand by esteemed world leaders and other influential delegates who can really make a difference in tackling climate change. BYD is committed to pioneering zero-emissions solutions for clean, reliable eco-friendly transportation. We are proud to collaborate with others who share our vision, as part of the global effort to support net zero targets.”

It is not only in the Blue Zone of the conference where the Enviro400EV bus makes an appearance. It has played a high-profile role in the ‘Road to Renewables’ electric bus tour which started in London and finished its 11 day 968 mile journey on 29^th October in Glasgow, three days before COP26 opened its doors. The event was a collaboration between COP26 partner SSE, the Go-Ahead group and other partners including BYD ADL, and promoted innovative projects for decarbonisation, such as Bus2Grid.

The eBus activity extends further at COP26. Additionally, BYD ADL eBuses are in operation by First Bus as part of the all-important shuttle service for delegates attending the Conference. A fleet of 22 Enviro200EV zero-emission buses, all built in Scotland, are being used for this purpose.

Pictures Credits

Please note that the images showing the arrival and alighting at Kelvingrove Art Gallery should be credited to Karwai Tang / UK Government. Other images should be credited to Alexander Dennis Limited / Keith McGillivray.

HD Photos: https://we.tl/t-lUVdliN5Qe

About BYD

BYD (Build Your Dreams) is a multinational high-tech company devoted to leveraging technological innovations for a better life. BYD now has four industries including Auto, Electronics, New Energy, and Rail Transit. Since its foundation in 1995, the company quickly developed solid expertise in rechargeable batteries and became a relentless advocate of sustainable development, successfully expanding its renewable energy solutions globally with operations in over 50 countries and regions. Its creation of a Zero Emissions Energy Solution, comprising affordable solar power generation, reliable energy storage, and cutting-edge electrified transportation, has made it an industry leader in the energy and transportation sectors. BYD is a Warren Buffet-backed company and is listed both on the Hong Kong and Shenzhen Stock Exchanges. More information on the company can be found at http://www.byd.com.

Asia-Pacific: Mia Gu, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +86-755-8988-8888-69666
Europe: Penny Peng, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +31-102070888
North America: Frank Girardot, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +1 213 245 6503
Latin America: Mariana Osorio, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +56 9 8588 0333
Brazil: Adalberto Maluf, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +19 3514 2554

HOUSTON--(BUSINESS WIRE)--Whiting USA Trust II (the “Trust”) (OTC:WHZT) announced today that the Trust will make a distribution to unitholders in the fourth quarter of 2021, which relates to net profits generated during the third quarterly payment period of 2021. Unitholders of record on November 19, 2021 will receive a distribution of $0.218464 per unit, which is payable on or before November 29, 2021 (the “November 2021 distribution”).

As of the date of this press release, 99.9% of the Trust’s total 18,400,000 units outstanding were held by Cede & Co. (The Depository Trust Corporation’s nominee) as the official unitholder of record. The record date of November 19, 2021 for this distribution is only applicable to unitholders of record such as Cede & Co., and the ex-date, as set by The Financial Industry Regulatory Authority, Inc., or FINRA, actually determines which street name holders will be eligible to receive the November 2021 distribution.

Sales volumes, net profits and selected performance metrics for the quarterly payment period (mainly affected by July 2021 through September 2021 oil prices and June 2021 through August 2021 gas prices) were:

The Trust’s net profits interest (“NPI”), which is the only asset of the Trust other than cash reserves held for future Trust expenses, represents the right to receive 90% of the net proceeds from Whiting’s interests in certain existing oil and natural gas properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States until the NPI terminates on December 31, 2021.

Trust Termination

After the NPI terminates on December 31, 2021, it is anticipated that the Trust will make a final quarterly distribution, if any, no later than March 1, 2022, to the Trust unitholders of record on the 50th day following December 31, 2021, and the Trust will wind up its affairs and terminate. After the termination of the Trust, it will pay no further distributions. Consequently, after the payment of the November 2021 distribution, the Trust expects to make only one final distribution in March 2022. In accordance with the terms of the NPI, the final quarterly distribution, if any, will only include proceeds for oil and gas production received by Whiting prior to December 31, 2021.

The market price of the Trust units will decline to zero at the termination of the Trust, which will occur after the termination of the NPI. As described in the Trust’s public filings, since the assets of the Trust are depleting assets, a portion of each cash distribution paid on the Trust units, if any, should be considered by investors as a return of capital, with the remainder being considered as a return on investment.

Status of the Trust

Although oil and gas prices have improved since the lows experienced during 2020, oil and gas prices have historically been volatile and may fluctuate widely in the future. The Trust is unable to predict future commodity prices or future performance and distributions to unitholders are significantly impacted by low oil and natural gas prices and may be reduced to zero, as was the case during the second, third and fourth quarters of 2020 and first quarter of 2021. Additionally, the Trust’s distributions are sensitive to fluctuations in operating and capital expenditures and commodity price differentials.

Forward-Looking Statements

This press release contains forward-looking statements, including all statements made in this press release other than statements of historical fact. No assurances can be given that such statements will prove to be correct. The estimated time when the market price of the Trust units should decline to zero is based on the economic rights of the Trust units. The trading price of the Trust units is affected by factors outside of the control of the Trust or Whiting, including actions of market participants, among others. Other important factors that could cause actual results to differ materially include fluctuations in oil and natural gas prices, the effect, impact, potential duration or other implications of the COVID-19 pandemic, or any government response to such pandemic, expenses of the Trust, risks inherent in the operation, production and development of oil and gas, future production and development costs, uncertainty of estimates of oil and natural gas reserves and production, and other risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020 and in its other filings with the Securities and Exchange Commission (the “SEC”). The Trust’s annual, quarterly and other reports filed under the Securities Exchange Act of 1934, as amended, are available electronically from the website maintained by the SEC at http://www.sec.gov. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trustee does not intend, and assumes no obligation, to update any of the statements included in this press release.

Whiting USA Trust II
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
(512) 236-6555

EAST AURORA, N.Y.--(BUSINESS WIRE)--The Board of Directors of Moog Inc. (NYSE: MOG.A and MOG.B) has declared a quarterly dividend of $.25 per share on the Company’s issued and outstanding shares of Class A common stock and Class B common stock. The dividend will be paid on December 6, 2021 to all shareholders of record as of the close of business on November 19, 2021.

The dividend represents a use of cash of approximately $8 million. Future declarations of quarterly dividends are subject to the determination and discretion of Moog’s Board of Directors.

About Moog

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at www.moog.com.

Ann Marie Luhr
716-687-4225

• Revenue of $141 million, a 3% sequential increase
• Orders of $176 million, up 11% sequentially and book-to-bill ratio of 1.25
• Net loss of $12 million and diluted EPS of negative $2.05
• Adjusted EBITDA of $7 million, a 9% sequential increase
• $10 million share repurchase program authorized

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2021 revenue of $141 million, an increase of $4 million from the second quarter 2021. Net loss for the quarter was $12 million, or $2.05 per diluted share, compared to a net loss of $22 million, or $3.87 per diluted share, for the second quarter 2021. Excluding special items, adjusted net loss was $2.25 per diluted share in the third quarter 2021 compared to an adjusted net loss of $2.66 per diluted share in the second quarter 2021. Adjusted EBITDA was $7 million in the third quarter 2021, an improvement of approximately $1 million from the second quarter 2021.

Special items in the third quarter 2021, on a pre-tax basis, included $4 million of foreign exchange gains partially offset by $3 million of restructuring, transaction and other costs. See Tables 1-5 for a reconciliation of GAAP to non-GAAP financial information.

The board of directors has authorized a share repurchase program for the repurchase of outstanding shares of the company's common stock having an aggregate purchase price of up to $10 million. Shares may be repurchased under the program from time to time, in amounts and at prices that the company deems appropriate, subject to market and business conditions, applicable legal requirements and other considerations. The program may be executed using open market purchases pursuant to Rule 10b-18 under the Securities Exchange Act of 1934, as amended, in privately negotiated agreements, by way of issuer tender offers, Rule 10b5-1 plans or other transactions.

Cris Gaut, Chairman and Chief Executive Officer, remarked, “Our orders and backlog continued to build in the third quarter with an 11% sequential increase in orders and a 1.25 book-to-bill ratio. This growth was led by orders for new product offerings in our stimulation and intervention product line and continued growth in subsea capital equipment orders. Our order flow has increased each of the last five quarters and has nearly doubled on a year-over-year basis. FET revenue of $141 million was impacted by ongoing and widespread supply chain delays, and COVID related disruptions for our customers' field operations.

“FET EBITDA of $7 million represents a 9% sequential increase, and a $17 million improvement compared to the third quarter 2020. The growth in our Subsea product line and market share gains in our artificial lift product offering are particularly noteworthy.

“Despite the impact of ongoing supply chain disruptions and cost inflation, we have a strong backlog and are beginning to see the benefits of pricing improvements. As a result, we forecast fourth quarter revenue to be between $145 and $155 million and EBITDA of $9 to $11 million. Furthermore, we expect a constructive market environment to support our outlook for continued growth in 2022.

“We ended the third quarter with $257 million principal amount of debt outstanding and net debt of $206 million. In the third quarter, we amended our ABL credit facility to, among other things, extend the maturity to September 2026, subject to certain exceptions, and reduce the facility size to $179 million. With this extension and the Senior Notes maturity in August 2025, we now have ample runway and liquidity to continue to execute our strategic initiatives.

“The $10 million share repurchase program authorized by our board of directors represents approximately 8% of our current equity market capitalization. It demonstrates the confidence we have in the company's business model, strong product offering and future prospects, including our growing exposure to the energy transition.”

Segment Results

Drilling & Downhole segment revenue was $63 million and orders were $83 million, an increase of 3% for each from the second quarter 2021. The increase in revenue and orders was due to subsea capital equipment sales for international customers, and higher demand for artificial lift products and drilling capital equipment in connection with increasing activity levels. Segment adjusted EBITDA was $9 million, a $2 million sequential increase resulting from the higher revenue levels and favorable sales mix. Drilling & Downhole operations focus primarily on capital equipment and consumable products for global drilling, well construction, artificial lift and subsea markets.

Completions segment revenue was $50 million, a 7% sequential increase driven by higher demand from our pressure pumping service customers and increased sales of coiled tubing due to higher well completions. Orders were $60 million, a sequential increase of $12 million, or 26%, due to orders for new product offerings in our stimulation and intervention product line. Segment adjusted EBITDA was $5 million, down $1 million from the second quarter due to raw material cost inflation and a less favorable sales mix. The Completions segment designs and manufactures products for the coiled tubing, stimulation and intervention markets.

Production segment revenue was $29 million, a decrease of $1 million, or 3% from the second quarter 2021 driven by lower revenues from desalination process equipment and well-site production equipment, partially offset by higher valve sales into the downstream market. Orders in the third quarter were $33 million, a 6% sequential increase, due to large orders received for desalination process equipment in the third quarter 2021. Segment adjusted EBITDA was negative $2 million, approximately in line with the second quarter 2021. The Production segment manufactures land well site production equipment, desalination process equipment, and a wide range of valves for upstream, midstream and process industry customers.

FET (Forum Energy Technologies) 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 severity and duration of the COVID-19 pandemic and related repercussions resulting from the negative impact on demand for oil and natural gas, 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, 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.