DUBLIN--(BUSINESS WIRE)--The "Amaranth Oil - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Amaranth Oil Market to Reach $1.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Amaranth Oil estimated at US$682.2 Million in the year 2020, is projected to reach a revised size of US$1.4 Billion by 2027, growing at a CAGR of 10.5% over the analysis period 2020-2027.
Cosmetic & Personal Care, one of the segments analyzed in the report, is projected to record a 11.3% CAGR and reach US$485.1 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pharmaceutical segment is readjusted to a revised 10.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $184.2 Million, While China is Forecast to Grow at 14% CAGR
The Amaranth Oil market in the U. S. is estimated at US$184.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$295.9 Million by the year 2027 trailing a CAGR of 14% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 9.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.
Food Supplements Segment to Record 9.9% CAGR
In the global Food Supplements segment, USA, Canada, Japan, China and Europe will drive the 9.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$76.3 Million in the year 2020 will reach a projected size of US$141.5 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$198.8 Million by the year 2027, while Latin America will expand at a 11.3% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
IV. COMPETITION
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LONDON--(BUSINESS WIRE)--#Goods--The new perishable goods sea transportation market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the rising demand for processed food,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the perishable goods sea transportation market size to grow by USD 2.38 billion during the period 2021-2025.
Perishable Goods Sea Transportation Market Segment Highlights for 2020
Regional Analysis
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In 2021, Aries is on a mission to use its patented gasification systems to cleanly convert biosolids from wastewater treatment plants into renewable energy and beneficial use byproducts, keeping biosolids out of landfills and farmers’ fields.
FRANKLIN, Tenn.--(BUSINESS WIRE)--Aries Clean Energy, a leader in the biomass gasification solutions sector, has changed its name to Aries Clean Technologies, with a refined focus on the clean conversion of wastewater biosolids.
Unsafe disposal of biosolids can contaminate our clean water supply, representing a major problem for municipalities, businesses, people, and the planet.
Simply stated, humanity has a biosolids problem, and it’s getting messier. Every year, the U.S. alone produces seven million dry tons of biosolids, or treated sludge, with limited options for dealing with it. Current methods of disposal are unsustainable, can be harmful to the environment, and are increasingly regulated and restricted. This applies to landfills, land applications, incineration, and even composting.
“2020 was a mess. Let’s clean up some of our mess in 2021,” said Aries CEO Greg Bafalis. “With our proven technologies, we can keep biosolids out the landfills and out of farmers’ fields. We can make the earth cleaner and healthier. We can also help cities and companies set and achieve sustainable carbon reductions and zero waste goals while keeping renewable debris out of landfills.”
The Aries solution is to disrupt the existing biosolids disposal system – using gasification technologies to convert biosolids into clean energy and beneficial byproducts.
More specifically, Aries is disrupting the process that occurs after you flush, when waste is converted into biosolids at wastewater treatment plants, with limited options for disposal.
The wastewater treatment industry has long recognized that biosolids could potentially be treated as a revenue stream rather than a costly challenge, contributing to the development of a sustainable circular economy. The primary challenge with implementing this vision has been technological.
“Our new name, Aries Clean Technologies, more fittingly represents what we offer – patented innovations around clean, sustainable technologies that leverage fluidized bed gasification for biosolids, and downdraft gasification for wood waste,” said Bafalis.
With eight patents, 10 years of product development and operating experience, and two full-scale, operational facilities, Aries’ gasification solutions divert biosolids and biomass from landfills and convert them into clean energy and useful byproducts – biochar and Bio-Fly-Ash™. Aries GREEN™ Biochar is used in manufacturing, carbon filtration, and as a soil amendment, while Bio-Fly-Ash™ is used in concrete production.
“We are looking forward to using this clean technology in New Jersey,” said Mayor Derek Armstead. “This will lead to a healthier community for all. And the opening of this plant will provide additional revenue, reductions in operation and maintenance costs, and give our ratepayers an economic benefit that will allow the Authority and the City to stabilize budgets.”
Aries’ proprietary gasification solutions provide numerous environmentally friendly and sustainable benefits, including:
About Aries Clean Technologies
Aries Clean Technologies, based in Franklin, Tennessee, develops, designs, and builds innovative proprietary fluidized bed and downdraft gasification systems and projects using its eight patents granted to date. Its projects provide for the sustainable conversion of biosolids and biomass, reduction of carbon emissions, and the production of clean thermal and electrical energy and beneficial Aries GREEN™ Biochar or Bio-Fly-Ash™. For more information, please visit our website: www.ariescleantech.com
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Nancy Cooper
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LONDON--(BUSINESS WIRE)--#apac--The Lubricants market will register an incremental spend of about USD 21.18 billion, growing at a CAGR of 3.17% from 2020-2024. A targeted strategic approach to Lubricants market sourcing can unlock several opportunities for buyers. This report offers market impact and new opportunities created due to the COVID-19 pandemic. Get free report sample within minutes
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Lubricants Market Analysis
Analysis of the cost and volume drivers and supply market forecasts in various regions are offered in this Lubricants research report. This market intelligence report also analyzes the top supply markets and the critical cost drivers that can aid buyers and suppliers devise a cost-effective category management strategy.
The report provides insights on the following information:
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Spend Growth and Demand Segmentation
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HOUSTON--(BUSINESS WIRE)--A blueprint for the growth and development of Port Houston over the next 20 years has been presented to the Port Commission to provide a decision-making framework for policies, strategies, initiatives, investments, and actions.
The Port Houston 2040 Plan addresses a broad range of topics covering infrastructure, operations, emerging technology, environmental stewardship, safety and security, community partnerships, and market dynamics. The plan will provide a tangible vision of how Port Houston is creating a stronger and more resilient port, with sustainable contributions to the economy, environment, and local communities.
Port Houston Chairman Ric Campo said the plan is a proactive one focused on Port Houston's ongoing and long-term efforts to being a world class port.
“The Port Houston 2040 Plan is perhaps more important than ever as we look to how Port Houston can be a catalyst for both successful recovery in the wake of Covid-19 and the long-term prosperity of our communities, our region, the State of Texas, and the nation,” Campo said.
Objectives of the plan include communicating development plans and infrastructure needs to stakeholders; enabling flexibility and adaptability to respond to change over time; guiding long-term planning and decision-making; and to inform policies and prioritize investments.
Chief Infrastructure Officer Rich Byrnes presented the 2040 Plan to the Port Commission in November. He noted that four core strategies for Port Houston’s future growth and development emerged through the planning process.
“We have labeled these strategies the Four Cs of Channel, Cargo, Community, and Change to reflect Port Houston’s role as an authority, port operator, navigation sponsor, a responsive and responsible partner, and economic catalyst,” Byrnes said.
The Port Commission received an update recently about the Houston Ship Channel expansion, or Project 11, and developments since the 2018 Port Commission Dredge Task Force meeting. Congress in December passed the 2020 Water Resources Development Act, which included formal authorization for the expansion of the Houston Ship Channel.
Port Houston Executive Director Roger Guenther said Port Houston embraces the public benefit it serves to the region, Texas, and the nation.
“We recognize that achieving the goals established by the 2040 Plan will require the concerted efforts of Port Houston with numerous governmental agencies, port users, customers, non-governmental organizations, community leaders, and area residents,“ Guenther said. “I am excited that the 2040 Plan clearly captures and communicates our goals so we can actively and effectively work together. Coordination, collaboration, and cooperation will be critical to our collective success.”
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 PortHouston.com.
Bill Hensel, Manager, External Relations, Office, 713-670-2893; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.
WALL, N.J.--(BUSINESS WIRE)--The board of directors of New Jersey Resources (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $.3325 per share. The dividend will be payable on April 1, 2021 to shareowners of record as of March 17, 2021.
The company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952.
About New Jersey Resources
New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its more than 1,100 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®. For more information about NJR: www.njresources.com.
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LONDON--(BUSINESS WIRE)--#PressureReliefValves--The new pressure relief valves market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the increasing periodic replacement activities,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their position in the slow-growing segments. As the markets recover, Technavio expects the pressure relief valves market size to grow by USD 937.20 million during the period 2021-2025.
Pressure Relief Valves Market Segment Highlights for 2020
Regional Analysis
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Global Rupture Disc Market - The rupture disc market is segmented by product (metallic rupture disc and graphite rupture disc), application (standalone rupture disc and rupture disc in combination with relief valves), end-user (energy, processing industries, transportation, and others), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
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HOUSTON--(BUSINESS WIRE)--Superior Energy Services (OTCQX: SPNX) (“Superior” or the “Company”) announced today that the U.S. Bankruptcy Court for the Southern District of Texas confirmed its Plan of Reorganization, whereby the Company’s $1.3 billion in debt would be converted into equity and the company would emerge debt-free.
“This confirmation order marks a key milestone in the Company’s reorganization process, and we look forward to emerging in the near future with a strengthened capital structure and greatly improved ability to compete,” said David Dunlap, President and CEO of Superior. “We are pleased with the results of this hearing, and we thank our employees, customers, lenders and suppliers for helping us to achieve this very favorable outcome.”
Ducera Partners LLC and Johnson Rice & Company L.L.C. are acting as financial advisors for the Company, Latham & Watkins LLP and Hunton Andrews Kurth LLP are acting as legal counsel, and Alvarez & Marsal is serving as restructuring advisor. Evercore L.L.C. is acting as financial advisor for the ad hoc group of noteholders with Davis Polk & Wardwell LLP and Porter Hedges LLP serving as legal counsel. FTI Consulting, Inc. is acting as financial advisor for the agent for the Company’s secured asset-based revolving credit facility with Simpson Thacher & Bartlett LLP acting as legal counsel.
About Superior
Superior Energy serves the drilling, completion, and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. For more information, visit http://www.superiorenergy.com.
Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this communication) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of Superior, which could cause actual results to differ materially from such statements. Forward-looking information includes, but is not limited to: statements regarding the timing and effect of the recapitalization; Superior’s ability to satisfy the conditions to that certain Amended and Restated Restructuring Support Agreement dated December 4, 2020 and obtain Bankruptcy Court approval with respect to motions in the Chapter 11 Cases; the outcomes of Bankruptcy Court rulings in the Chapter 11 Cases; general market and economic conditions; changes in law and government regulations; and other matters affecting Superior’s business.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Superior’s Annual Report on Form 10-K for the year ended December 31, 2019, and those set forth from time to time in Superior’s filings with the Securities and Exchange Commission. Except as required by law, Superior 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.
No Solicitation or Offer
Any new securities to be issued pursuant to the restructuring transactions may not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws but may be issued pursuant to an exemption from such registration provided in the U.S. bankruptcy code. Such new securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.
Paul Vincent, VP of Treasury and Investor Relations,
(713) 654-2200
SAN DIEGO--(BUSINESS WIRE)--EDF Renewables North America today announced the completion and commercial operation of the Maverick 1 (173.4 MWdc) and Maverick 4 (135.9 MWdc) Solar Projects. Maverick 1 provides 125 MWac of electricity to Southern California Edison under a 15-year Power Purchase Agreement (PPA), while Maverick 4 supplies 100 MWac energy and renewable attributes to Shell Energy North America (US), L.P. under a 15-year PPA.
The two projects, part of the Palen Solar project, are located adjacent to each other on unincorporated land in Riverside County, California, administered by the Federal Bureau of Land Management (BLM). The BLM designated this area as a Solar Energy Zone (SEZ) and Development Focus Area, land set aside for utility-scale renewable energy development. Both projects consist of horizontal single-axis tracking solar photovoltaic (PV) technology.
“EDF Renewables is pleased to partner with Southern California Edison and Shell to help California meet its clean energy and low-carbon goals through the Maverick Solar Projects,” commented Ryan Pfaff, Executive Vice President, Grid-Scale Power at EDF Renewables. “The backing of local, state and federal government is critically important to renewable development and we thank all those who supported this project through its development.”
Benoit Rigal, Vice President, Engineering & Construction added, “We acknowledge the perseverance demonstrated by the project teams, including our construction and supplier partners, in safely completing the projects during the pandemic.”
In addition to economic benefits for Riverside County, the projects combined generate enough clean energy to meet the consumption of up to 110,000 average California homes1. This is equivalent to avoiding more than 498,000 metric tons of CO₂ emissions annually2 which represents the greenhouse gas emissions from 107,000 passenger vehicles driven over the course of one year.
EDF Renewables’ Asset Optimization group will perform operations and maintenance services for the life of the Project. The group will provide NERC compliance support, remote monitoring, and balance-of-plant management to maximize power production.
1 According to U.S. Energy Information Administration (EIA) 2019 Residential Electricity Sales and U.S. Census Data
2 According to U.S. Environmental Protection Agency (EPA) Greenhouse Gas Equivalencies Calculator
About EDF Renewables North America:
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; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 16 GW of developed projects and 11 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renouvelables, 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.
Sandi Briner, +1 858-521-3525
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Targeted Public Safety Power Shutoff in small portions of driest locations affecting approximately 5,000 customers in Fresno, Kern, Madera, Mariposa, San Luis Obispo, Santa Barbara and Tulare counties
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) crews have begun the process of making repairs and restoring electric service after a powerful windstorm blew through Northern and Central California Tuesday, causing wind hazards and related outages.
Weather stations within PG&E’s service area recorded wind gusts that neared 100 mph. At the Hell Hole weather station in Placer County, for instance, a 98-mph gust was recorded. In Sonoma County, maximum gusts of 97 and 96 mph were recorded at the Santa Fe Geothermal and Pine Flat Road weather stations. Stations in Contra Costa, Tuolumne, Kern, Santa Clara and Calaveras counties all had gust readings exceeding 80 mph.
Since the winds started blowing around 8 p.m. on Monday, approximately 286,000 customers lost power due to the severe weather. As of 4 p.m. Tuesday afternoon, power had been restored to about 208,000 customers with about 78,000 remaining out of power.
Multiple PG&E crews are working safely and as quickly as possible to assess damage and restore power. PG&E is moving crews to the most impacted locations and using helicopters to speed up restoration efforts. PG&E has more than 350 electric distribution and transmission crews, 302 electric troublemen and 65 substation switchmen working on repairs and restoration of wind-driven outages.
PSPS update
Meanwhile, approximately 5,000 customers in the southern portion of PG&E’s territory had their power turned off for public safety to prevent potential wildfire ignitions. The shutoffs, which started around midnight Monday, are affecting approximately 5,000 customers in Fresno, Kern, Madera, Mariposa, San Luis Obispo, Santa Barbara and Tulare counties.
As of 2 p.m. Tuesday, PG&E meteorologists had issued the “all clear” for some of the PSPS-affected circuits in Madera, Mariposa, Fresno and Tulare counties.
The weather “all clear” signal is given once the severe weather subsides and allows electric crews to begin patrolling in the air, in vehicles and on foot nearly all power lines that were de-energized. Once lines are inspected and found free of damage or hazards, PG&E can proceed with restoring power to customers. PG&E is working to restore power to all customers impacted by the PSPS by the end of the day on Wednesday.
PG&E has positioned 54 crews to begin patrols once the severe weather passes. Weather permitting, the patrols will utilize up to 12 helicopters.
Supporting customers impacted by PSPS
To support customers in the affected areas where a PSPS is happening, PG&E continues to operate Community Resource Centers (CRCs) in seven locations where community members can access resources and keep their families and their communities safe. Further information on the CRCs can be found at www.pge.com/crc.
All CRCs will follow important COVID-related health and safety protocols including:
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California. For more information, visit www.pge.com and www.pge.com/news.
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HOUSTON--(BUSINESS WIRE)--Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) (“Solaris” or the “Company”) announced today it expects its fully utilized proppant silo system count in the fourth quarter of 2020 to increase 20-25% from third quarter 2020. This compares to the Company’s previous expectation for a flat to modestly higher level of activity.
“We are encouraged by the stronger than expected rebound in completion activity and our system deployments in the fourth quarter,” Solaris’ Chairman and Chief Executive Officer Bill Zartler commented. “Activity in January is currently slightly higher than the fourth quarter average as activity remains strong. While visibility for the remainder of the year is limited, we remain focused on driving innovation, providing differentiated service and maximizing cash flow.”
Earnings Release and Conference Call Information
The Company also announced today that it will host a conference call to discuss its fourth quarter and full year 2020 results on Monday, February 22, 2021 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). Solaris will issue its fourth quarter and full year 2020 earnings release before the market opens on February 22, 2021.
To join the fourth quarter 2020 conference call from within the United States, participants may dial (844) 413-3978. To join the conference call from outside of the United States, participants may dial (412) 317-6594. When instructed, please ask the operator to be joined to the Solaris Oilfield Infrastructure, Inc. call. Participants are encouraged to log in to the webcast or dial in to the conference call approximately ten minutes prior to the start time. To listen via live webcast, please visit the Investor Relations section of the Company’s website, www.solarisoilfield.com.
An audio replay of the conference call will be available shortly after the conclusion of the call and will remain available for approximately seven days. It can be accessed by dialing (877) 344-7529 within the United States or (412) 317-0088 outside of the United States. The conference call replay access code is 10151681. The replay will also be available in the Investor Relations section of the Company’s website shortly after the conclusion of the call and will remain available for approximately seven days.
About Solaris Oilfield Infrastructure, Inc.
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) provides mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells. Solaris’ patented mobile proppant and chemical systems are deployed in many of the most active oil and natural gas basins in the United States. Additional information is available on our website, www.solarisoilfield.com.
Yvonne Fletcher
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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Solaris Oilfield Infrastructure, Inc.
HOUSTON--(BUSINESS WIRE)--The Port of Houston today received notification from the U.S. Army Corps of Engineers (USACE) that it was awarded a “new start” designation and $19.5 million in federal funds to begin construction of the Houston Ship Channel Expansion Channel Improvement Project. That project was authorized in the Water Resources and Development Act of 2020 as part of a larger legislative package passed by Congress in December.
The Houston Ship Channel Expansion, known as Project 11, will widen and deepen the channel for safer and more efficient navigation of vessels calling the port’s eight public terminals and more than over 200 private facilities operating along the channel.
“To go from Congressional authorization to securing a pathway for construction in less than a month is phenomenal news,” Port Houston Chairman Ric Campo said. “Project 11 will provide the greater Houston metropolitan area continued job growth and economic development opportunities, while improving air quality by reducing traffic congestion on the channel.”
Port Houston Executive Director Roger Guenther called the designation a momentous occasion for the port.
“We’re grateful for our bipartisan Congressional delegation and the many channel stakeholders who aggressively advocated to get this project authorized and funded,” Guenther said. “Without their continued support, we wouldn’t be in this position today.”
Harris County Precinct 2 County Commissioner Adrian Garcia, who represents much of the port region, noted how important the ship channel is to the entire area, as well as the state and nation.
“This new development is a huge win for the 1.1 million people in Precinct 2 in part because it will bring about more economic development, which invariably leads to more jobs,” Garcia said. “However, we must also look to invest in communities surrounding the ship channel and Port Houston; that means better roadways, focused flood protection and smart infrastructure. For the working families in my precinct to truly receive the full benefit from the channel expansion project, it’s going to take a strong financial commitment.”
The award is critically important for the port and channel stakeholders, as this designation and funding will allow the Corps and the port to execute a Project Partnership Agreement and for the port to begin construction on the critical elements of the project. For the past seven years, the port, bipartisan Congressional delegation, and channel stakeholders have been working together to make this channel improvement project a reality, including writing letters and making calls to influential federal decision-makers in Washington, D.C.
In addition to the “new start” designation and $19.5 million in construction funds, the Port also received $55.5 million in annual operations and maintenance funding to ensure safe and efficient vessel traffic on the current channel.
The Houston Ship Channel port complex and its public and private terminals, collectively known as the Port of Houston, is now the number one port in the United States in terms of total waterborne tonnage, It is also ranked first for foreign waterborne tonnage and number of vessel transits. Nearly 285 million tons of cargo moved through the Port of Houston overall in 2019.
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 PortHouston.com.
Bill Hensel, Manager, External Relations, Office, 713-670-2893; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
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LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Regulatory News:
TechnipFMC plc (“TechnipFMC”) (NYSE: FTI) (Paris: FTI) (ISIN: GB00BDSFG982) announces that on 19 January 2021, it filed a Current Report on Form 8-K (the “Form 8-K”) under the U.S. Securities Exchange Act of 1934, as amended, with the U.S. Securities and Exchange Commission (the “SEC”) disclosing that certain information contained in the confidential preliminary offering memorandum dated January 19, 2021 (the “Offering Memorandum”) to potential investors relating to a proposed private offering by the Company (the “Offering”), subject to market conditions and other factors, of $850,000,000 in aggregate principal amount of senior unsecured notes due 2026 (the “Notes”).
Forward‑looking statements
This release contains “forward-looking statements” as defined in Section 27A of the U.S. Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Words such as “guidance,” “confident,” “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “will,” “likely,” “predicated,” “estimate,” “outlook” and other similar expressions, including the negatives thereof are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into TechnipFMC and Technip Energies, the expected financial and operational results of TechnipFMC and Technip Energies after the potential separation and expectations regarding TechnipFMC’s and Technip Energies’ respective capital structures, businesses or organizations after the potential separation. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on our current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.
All of our forward-looking statements involve risks and uncertainties (some of which are significant or beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that we will be able to realize any of the potential strategic benefits or opportunities of the Spin-off, that we or our business will be commercially successful in the future, or achieve any particular credit rating or financial results, or that the Spin-off will be successful.
For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, our filings with the Autorité des marchés financiers or the U.K. Financial Conduct Authority, as well as the following:
Risks related to our business and industry
Risks related to our operations
Risks relating to legal proceedings, tax, and regulatory matters
Risks related to the Spin-off and the other Transactions
General risk factors
We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
Summary
This summary highlights selected information appearing elsewhere in this Offering Memorandum and the documents incorporated herein by reference. This summary may not contain all of the information that may be important to you. You should read this summary together with this entire Offering Memorandum and the documents that we have incorporated herein by reference, including the “Risk factors” section of this Offering Memorandum, the Issuer’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Issuer’s subsequent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020.
In this Offering Memorandum, unless otherwise indicated or the context otherwise requires, (i) the “Issuer” or “TechnipFMC plc” refers to TechnipFMC plc, exclusive of its consolidated subsidiaries, (ii) the “Company,” “we,” “us,” or “TechnipFMC”, refers to TechnipFMC plc and its consolidated subsidiaries which (x) prior to the consummation of the Spin-off (as defined below), includes Technip Energies N.V. and its subsidiaries and (y) following the consummation of the Spin-off, excludes Technip Energies (as defined below), (iii) “WholeCo” refers to TechnipFMC plc and its consolidated subsidiaries, prior to and without giving effect to the Spin-off and including, for avoidance of doubt, Technip Energies, (iv) “RemainCo” refers to TechnipFMC plc and its consolidated subsidiaries, after giving effect to the Spin-off and excluding, for avoidance of doubt, Technip Energies, (v) “Technip Energies” or “SpinCo” refers to Technip Energies N.V. and its consolidated subsidiaries, after giving effect to the Spin-off, which includes WholeCo’s “Technip Energies” business segment (including Genesis), as well as Loading Systems and Cybernetix (which were historically included in WholeCo’s Subsea and Surface Technologies segments) and (vi) “Technip Energies N.V.” refers to Technip Energies N.V., exclusive of its subsidiaries. As used in this Offering Memorandum, “Spin-off” means the separation and distribution of 50.1% of the shares of Technip Energies N.V. held by the Issuer to its shareholders.
Company overview
We are a global leader in the energy industry, delivering products, technologies and services to companies that produce and transport oil and natural gas. Through innovative technologies and improved efficiencies, our offerings unlock new possibilities for our customers in developing their energy resources and increasingly help position them to meet the ongoing energy transition to lower carbon energy alternatives.
After giving effect to the Spin-off described below, our Company will be organized in two business segments, Subsea and Surface Technologies, which are well-positioned to deliver greater efficiency across project lifecycles, from concept to project delivery and beyond. Our Subsea segment, which represented approximately 83% of our revenues as adjusted for the Spin-off for the last twelve months ended September 30, 2020, provides integrated design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation. Our Surface Technologies segment designs, manufactures, and services products and systems used by companies involved in land and shallow water exploration and production of crude oil and natural gas, with approximately 60% of segment revenue generated outside the Americas for the last twelve months ended September 30, 2020 on a pro forma basis.
Our customers include major integrated oil companies, national oil companies, and independent exploration and production companies. For the twelve months ended September 30, 2020, on a pro forma basis, we had revenues of $6.8 billion, Adjusted EBITDA of $521.0 million and combined backlog of $7.6 billion. Approximately 90% of our revenues, on a pro forma basis, for the twelve months ended September 30, 2020 came from outside the more cyclical United States region of our Surface Technologies segment. See Note 1 under “Summary—Summary unaudited pro forma financial and other data” for a reconciliation of pro forma Adjusted EBITDA to pro forma net loss.
The Spin-off
On January 7, 2021, we announced the resumption of activities toward the completion of our previously announced separation into two diversified pure-play market leaders – TechnipFMC, a fully integrated technology and services provider, and Technip Energies, a leading engineering and technology player. The Spin-off will be structured as a spin-off of our Technip Energies business segment and, Technip Energies will also include Loading Systems, one of the main suppliers of solutions for handling a complete range of fluids and gases at ambient, elevated, and cryogenic temperatures, and at the full spectrum of operating pressures, and Cybernetix, active since 1985 in teleoperated systems, asset integrity monitoring, and inspection for hostile environments, which have historically been a part of our Surface Technologies and Subsea businesses. We will continue to offer what we believe to be a comprehensive portfolio of technologies, products, projects, and services with capabilities spanning early studies, technology licensing, proprietary equipment, and project management to full engineering and construction. We also announced our entry into a share purchase agreement, dated January 7, 2021 (the “Share Purchase Agreement”), with Bpifrance Participations SA (“BPI”), pursuant to which BPI will purchase from us shares of Technip Energies N.V. for $200 million, which will further reduce TechnipFMC’s ownership in Technip Energies N.V. See “The Transactions” for a more complete description of the Spin-off and the transactions related thereto.
Technip Energies will be a leading engineering and technology company positioned to play a critical role for the energy transition, offering a robust project delivery model, strong technical capabilities, and proven track record. Technip Energies will continue to deploy its core capabilities to meet today’s and tomorrow’s energy challenges, whether in LNG (onshore and offshore liquefaction), in sustainable chemistry (biofuels, biochemicals, circular economy), for decarbonization (energy efficiency, blue hydrogen, carbon capture, utilization and storage) and for carbon free solutions (green hydrogen, offshore wind and nuclear).
At the completion of the Spin-off, we will own 49.9% of Technip Energies’ outstanding shares, and the sale of shares to BPI pursuant to the Share Purchase Agreement will further reduce our ownership in Technip Energies. We intend to significantly reduce our shareholding in Technip Energies over the two years following the Spin-off. We intend to use the proceeds from the sale of our remaining interest in Technip Energies to further delever our balance sheet.
The Spin-off builds on the results of the successful merger (the “Merger”) of Technip S.A., a French société anonyme (together with its consolidated subsidiaries, “Technip”) and FMC Technologies, Inc., a U.S. Delaware corporation (together with its consolidated subsidiaries, “FMC Technologies” or “FMCTI”), which created a fully-integrated subsea provider. Our performance since the Merger has made the Spin-off possible and, when completed, we believe that the Spin-off will enable us and Technip Energies to unlock additional value. We believe that the strategic rationale for the Spin-off is compelling based primarily on the following:
Segment overview
Subsea segment
We are focused on transforming subsea by safely delivering innovative solutions that improve economics, enhance performance and reduce emissions. As a fully-integrated technology and services provider, we continue to drive responsible energy development.
Our Subsea segment provides integrated design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.
We are an industry leader in front-end engineering and design (“FEED”), subsea production systems (“SPS”), subsea flexible pipe, and subsea umbilicals, risers, and flowlines (“SURF”), and subsea robotics. We also have the capability to install these products and related subsea infrastructure with our fleet of highly specialized vessels. By integrating the SPS and SURF work scopes, we are able to drive greater value to our clients through more efficient field layout and execution of the installation campaign. This capability, in conjunction with our strong commercial focus, has enabled the successful market introduction of an integrated subsea business model, iEPCI (“iEPCI”), which spans a project’s early phase design through the life of field.
Our integrated business model is unlocking incremental opportunities and materially expanding the deepwater opportunity set. Since the first iEPCI project was awarded in 2016, market adoption of the business model has accelerated each year, and in 2019 we secured more than 70% of the industry’s integrated project awards.
Through integrated FEED studies, or iFEED (“iFEED”), we are uniquely positioned to influence project concept and design. Using innovative solutions for field architecture, including standardized equipment, new technologies, and simplified installation, we can significantly reduce subsea development costs and accelerate time to first production.
Our first-mover advantage and ability to convert iFEED studies into iEPCI contracts, often as a direct award, creates a unique set of opportunities for the Company that are not available to our peers. This allows us to deliver a fully integrated - and technologically differentiated - subsea system, and to better manage the complete work scope through a single contracting mechanism and a single interface, yielding meaningful improvements in project economics and time to first oil.
We continue to support our clients following project delivery by offering aftermarket and life of field services. Our wide range of capabilities and solutions, including integrated life of field, or iLOF (“iLOF”), allows us to help clients increase oil and gas recovery and equipment uptime while reducing overall cost. Our iLOF offering is designed to unlock the full potential of subsea infrastructures during operations by transforming the way subsea services are delivered and proactively addressing the challenges operators face over the life of subsea fields. We provide production optimization, asset life extension insight, proactive de-bottlenecking, and condition-based maintenance.
Our Subsea business depends on our ability to maintain a cost-effective and efficient production system, achieve planned equipment production targets, successfully develop new products, and meet or exceed stringent performance and reliability standards.
We actively pursue alliances with companies that are engaged in the subsea development of oil and natural gas to promote our integrated systems for subsea production. These alliances are typically related to the procurement of subsea production equipment, although some alliances are related to engineering, procurement, construction and engineer (“EPCI”) services.
Generally, our customers in the Subsea segment are major integrated oil companies, national oil companies, and independent exploration and production companies. For the twelve months ended September 30, 2020, on a pro forma basis, we had total Subsea revenues of $5.6 billion, Adjusted EBITDA of $544.2 million and backlog of $7.2 billion. See “Management’s discussion and analysis of financial condition and results of operations of pro forma condensed consolidated financial information.”
Subsea segment products and services
Subsea production systems. Our systems are used in the offshore production of crude oil and natural gas. Subsea systems are placed on the seafloor and are used to control the flow of crude oil and natural gas from the reservoir to a host processing facility, such as a floating production facility, a fixed platform, or an onshore facility.
Our subsea production systems and products include subsea trees, chokes and flow modules, manifold pipeline systems, controls and automation systems, well access systems, multiphase and wet-gas meters, and additional technologies. The design and manufacture of our subsea systems requires a high degree of technical expertise and innovation. Some of our systems are designed to withstand exposure to the extreme hydrostatic pressure of deepwater environments, as well as internal pressures of up to 20,000 pounds per square inch (“psi”) and temperatures of up to 400º F. The development of our integrated subsea production systems includes initial engineering design studies and field development planning and considers all relevant aspects and project requirements, including optimization of drilling programs and subsea architecture.
Subsea processing systems. Our subsea processing systems, which include subsea boosting, subsea gas compression, and subsea separation, are designed to accelerate production, increase recovery, extend field life, and/or lower operators’ production costs for greenfield, subsea tie-back and brownfield applications. To provide these products, systems, and services, we utilize our engineering, project management, procurement, manufacturing, and assembly and test capabilities.
Rigid Pipe. We design and fabricate rigid pipes for production and service applications at our spoolbases. Rigid pipes are installed from our fleet of differentiated rigid pipelay vessels. Our pipelines optimize flow assurance through innovative insulation coatings, electric trace heating, plastic liners, and pipe-in-pipe systems.
Flexible pipe and umbilicals. We design and manufacture flexible pipes as well as steel tube, thermoplastic hose, power, communication and hybrid (a combination of steel tube, thermoplastic hose, and electrical cables) umbilicals.
Investor relations
Matt Seinsheimer
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Media relations
Christophe Bélorgeot
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DALLAS--(BUSINESS WIRE)--Kosmos Energy (NYSE/LSE: KOS) announced today an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration (“ILX”) well (Kosmos working interest 17.5%).
Winterfell was designed to test a sub-salt Upper Miocene prospect located in Green Canyon Block 944. The well encountered approximately 26 meters (85 feet) of net oil pay in two intervals.
Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer said: “We are pleased to have started the New Year with exploration success at Winterfell validating our proven basin exploration strategy, which is focused on low cost, short cycle, low carbon development solutions. The Winterfell well was funded by a portion of the proceeds from the partial sale of our frontier exploration portfolio. The well in Green Canyon Block 944 de-risks prospectivity in several neighboring blocks held by Kosmos, with approximately 100 million barrels of gross potential within Kosmos’ acreage position.”
The Winterfell well is located in approximately 1,600 meters (5,300 feet) of water and was drilled to a total depth of approximately 7,000 meters (23,000 feet). An affiliate of Beacon Offshore Energy LLC is operator of the Winterfell well. Additional interest owners include Red Willow Offshore LLC, Ridgewood Monarch North LLC, CSL Exploration, LP, CL&F Offshore LLC, Houston Energy, L.P., Beacon Offshore Energy Exploration LLC, and Beacon Asset Holdings LLC. Kosmos will now work with partners on an appraisal plan and development options. The discovery is located within tie back distance to several existing and planned host facilities.
The company also plans to drill the Zora ILX well in the Gulf of Mexico later in the year.
About Kosmos Energy
Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos 2019 Sustainability Report. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
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 Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Investor Relations
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Media Relations
Thomas Golembeski
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EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced its results for the fourth quarter and full year, ended December 31, 2020, will be released on Thursday, February 18, 2021 after market close. At that time, a copy of the financial results release will be available on the Company’s website at https://oled.com/.
In conjunction with this release, Universal Display will host a conference call on Thursday, February 18, 2021 at 5:00 p.m. Eastern Time. The live webcast of the conference call can be accessed under the events page of the Company's Investor Relations website at ir.oled.com. Those wishing to participate in the live call should dial 1-877-524-8416 (toll-free) or 1-412-902-1028. Please dial in 5-10 minutes prior to the scheduled conference call time. An online archive of the webcast will be available within two hours of the conclusion of the call.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the impact of the COVID-19 pandemic on the Company and otherwise, the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the sections entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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DUBLIN--(BUSINESS WIRE)--The "Cartridge Seals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Cartridge Seals estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$2.2 Billion by 2027, growing at a CAGR of 6.8% over the analysis period 2020-2027.
Oil & Gas, one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach US$740.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chemical segment is readjusted to a revised 6.4% CAGR for the next 7-year period.
The U. S. Market is Estimated at $370 Million, While China is Forecast to Grow at 10.4% CAGR
The Cartridge Seals market in the U. S. is estimated at US$370 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$475.5 Million by the year 2027 trailing a CAGR of 10.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 6.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Water & Wastewater Segment to Record 6.8% CAGR
In the global Water & Wastewater segment, USA, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$267.1 Million in the year 2020 will reach a projected size of US$409.2 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$295.2 Million by the year 2027, while Latin America will expand at a 8.1% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/qf5ozz
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today that there will be no distribution paid for the month ended January 2021 to holders of record as of the close of business on January 29, 2021, as costs, charges and expenses attributable to the Trust’s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by the volatility in commodity prices. There was a substantial decrease in oil and natural gas prices in 2020 due in part to significantly decreased demand as a result of the COVID-19 pandemic and an oversupply of crude oil. Oil and natural gas prices could remain low for an extended period of time, which in turn could have a material adverse effect on Trust distributions. Continued low oil and natural gas prices, among other things, will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust’s Form 10-K for the year ended December 31, 2019 under “Part I, Item 1A. Risk Factors,” the Trust’s Form 10-Q for the quarter ended March 31, 2020 under “Part II, Item 1A. Risk Factors,” the Trust’s Form 10-Q for the quarter ended June 30, 2020 under “Part II, Item 1A. Risk Factors” and the Trust’s Form 10-Q for the quarter ended September 30, 2020 under “Part II, Item 1A. Risk Factors.” Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
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Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
Boyd Expands High Volume Automated Manufacturing Capacity in North America with New Facility in Juarez, Mexico
PLEASANTON, Calif.--(BUSINESS WIRE)--#boydcorp--Boyd Corporation, a leading global provider of integrated thermal management and engineered material solutions, announced an expanded presence in North America with a newly built facility strategically located in Juarez, Mexico. The company’s newest manufacturing facility will bring integrated thermal management and highly diversified engineered material manufacturing capacity featuring the latest in automation technology and powered by renewable energy to sustain growing customer and market demands. The Mexico facility expands the global footprint of Boyd Corporation – a name that carries nearly a century of commitment to technological evolution and responsiveness to customer needs.
Boyd’s newest mega site features automated manufacturing and assembly processes for low to high volume production of both complex thermal systems and multi-layered engineered materials as well as design, testing, process and prototyping engineering teams for full product lifecycle support. The 40,000 sq. meter state-of-the-art facility will be ISO 9001, ISO 13485 and IATF 16949 quality management system certified. The expansion provides needed capacity to deliver Boyd’s highly complex liquid cooling systems, market-leading liquid cold plates and advanced rotary die cutting capabilities with industry-leading tolerance control for ramping demand in North America.
“Boyd continually evaluates its operating structure to align with strategic customer and market needs. We’re expanding our footprint to enable greater capacity and higher volume production in support of the innovation coming from our technology roadmap, customer localization and accelerating market demand,” said Boyd CEO Doug Britt. “Our engineering development pipeline for new designs, products, and technology supporting the strategic market evolution we anticipate is larger than we’ve ever seen. We believe there is no one in the world better prepared than Boyd to deliver high volume thermal technologies and engineered material solutions that solve the new performance challenges in rapidly evolving markets like eMobility, medical and electronics.”
As electronics, battery systems, data centers and other advanced technologies become more powerful with a greater need for faster processing power and efficiency, liquid cooling systems have become a necessary solution to manage the vast amount of heat load produced. Boyd Mexico’s technology, capabilities, and additional capacity will help Aavid, Thermal Division of Boyd Corporation continue to exceed these performance needs at volumes demanded by the market.
Boyd Mexico will also feature the most advanced high-speed, multi-station rotary and flat-bed converting technologies in North America for both mass production and quick-turn prototyping. The Boyd Mexico team is well-equipped to support highly complex, converted components with industry-leading tolerance control and accelerated new product development and design cycles with short lead times. The facility will also feature clean rooms and a quality lab suited for measuring and testing, sensitive material handling, and manufacturing of products with stringent cleanliness requirements commonly found in medical, advanced display, optical and smartphone markets.
“Boyd is committed to using clean, renewable energy sources through our global environmental and sustainability programs,” said Britt. “As we invest in manufacturing expansions and upgrades, we will incorporate sustainable energy initiatives that minimize our carbon footprint.” Boyd’s Mexico site will be powered by solar energy and feature advanced green and highly efficient manufacturing processes with reduced carbon emissions and lower fossil fuel consumption.
About Boyd Corporation
Boyd Corporation is a global provider of engineered material and thermal management solutions critical to products that keep the world running. The company operates in markets around the world with specific expertise in engineering and design, integrated solutions, manufacturing and supply chain management and commits to proactive customer satisfaction across electronics, mobile computing, medical technology, transportation, aerospace and other B2B and consumer-critical industries.
Boyd Corporation: One Company, Many Solutions. Visit us at www.boydcorp.com.
Amie Jeffries
Boyd Corporation
209-491-4715
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HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a fourth-quarter 2020 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable Feb. 12, 2021, to unitholders of record as of Jan. 29, 2021.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.
TAX CONSIDERATIONS
This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100% of Phillips 66 Partners LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Phillips 66 Partners LP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not Phillips 66 Partners LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Discoveries Quaterly Review, Q3 2020 - Norway Led Discoveries Count in the Quarter" report has been added to ResearchAndMarkets.com's offering.
In Q3 2020, a total of 28 oil and gas discoveries were made - all being either conventional oil or conventional gas. Asia led globally with nine oil and gas discoveries, of which eight are conventional gas. Europe and South America followed with a total of five and four discoveries respectively. Among countries, Norway, had the highest number of discoveries with four in Q3 2020. Egypt, Russia, Indonesia, Pakistan, and India followed with three discoveries each in the quarter.
Scope
Reasons to Buy
Key Topics Covered:
1. Q3 2020 Global Oil and Gas Discoveries Review
2. Global Oil and Gas Discoveries by Key Countries
2.1 Count of Oil and Gas Discoveries by Key Countries in Q3 2020 vis-a-vis Q2 2020
2.2 Count of Oil and Gas Discoveries by Key Countries in 2020
3. Global Oil and Gas Discoveries by Key Operators
3.1 Count of Oil and Gas Discoveries by Key Operators in Q3 2020 vis-a-vis Q2 2020
3.2 Count of Oil and Gas Discoveries by Key Operators in 2020
4. Global Oil and Gas Discoveries by Well Terrain
4.1 Count of Oil and Gas Discoveries by Well Terrain in Q3 2020 vis-a-vis Q2 2020
4.2 Count of Oil and Gas Discoveries by Well Terrain in 2020
5. Global Oil and Gas Discoveries by Resource Type
5.1 Count of Oil and Gas Discoveries by Resource Type in Q3 2020 vis-a-vis Q2 2020
5.2 Count of Oil and Gas Discoveries by Resource Type in 2020
6. Global Oil and Gas Discoveries in Q3 2020
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/4vxl5b
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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