HOUSTON--(BUSINESS WIRE)--Crestwood Midstream Partners LP (“CMLP”), a wholly-owned subsidiary of Crestwood Equity Partners LP (NYSE: CEQP), announced today that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 6.25% Senior Notes due 2023 (the “2023 Notes”). As of December 31, 2020, there was $687,190,000 aggregate principal amount of the 2023 Notes outstanding. The Tender Offer is being made pursuant to an offer to purchase, dated today, and a related notice of guaranteed delivery. The Tender Offer will expire at 5:00 p.m., New York City time, on January 13, 2021, unless extended (the “Expiration Time”). Tendered 2023 Notes may be withdrawn at any time before the Expiration Time.
Holders of 2023 Notes that are validly tendered (and not validly withdrawn) at or prior to the Expiration Time, or who deliver to the tender and information agent a properly completed and duly executed notice of guaranteed delivery and subsequently deliver such 2023 Notes, each in accordance with the instructions described in the offer to purchase, will receive $1,008.40 per $1,000 principal amount of the 2023 Notes accepted for purchase. In addition, all holders of 2023 Notes accepted for purchase will receive accrued and unpaid interest from and including the last interest payment date up to, but not including, the settlement date.
The Tender Offer is contingent upon, among other things, CMLP’s successful completion of a proposed debt financing transaction, the gross proceeds of which will be at least $700 million (the “Financing Condition”). The Tender Offer is not conditioned on any minimum amount of 2023 Notes being tendered. CMLP may amend, extend or terminate the Tender Offer, in its sole discretion.
The Tender Offer is being made pursuant to the terms and conditions contained in the offer to purchase and related notice of guaranteed delivery, copies of which are available at www.dfking.com/cmlp or may be requested from the information agent for the Tender Offer, D.F. King & Co., Inc., by telephone at (866) 416-0553 (toll free) or, for banks and brokers, (212) 269-5550, and by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
CMLP has retained RBC Capital Markets, LLC to serve as lead dealer manager and Wells Fargo Securities, LLC to serve as co-dealer manager for the Tender Offer. Persons with questions regarding the Tender Offer should contact the lead dealer manager for the Tender Offer, RBC Capital Markets, LLC, at (877) 381-2099 (toll free) or (212) 618-7843.
This news release does not constitute an offer to purchase or the solicitation of an offer to sell the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in CMLP’s filings with the United States Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
About Crestwood Midstream Partners LP
Houston, Texas, based CMLP is a limited partnership and wholly-owned subsidiary of CEQP that owns and operates midstream businesses in multiple shale resource plays across the United States. CMLP is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water.
Source: Crestwood Equity Partners LP
Crestwood Midstream Partners LP
Investor Contact
Josh Wannarka, 713-380-3081
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Senior Vice President, Investor Relations,
ESG & Corporate Communications
Rhianna Disch, 713-380-3006
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Director, Investor Relations
HOUSTON--(BUSINESS WIRE)--MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2020.
Unitholders of record on January 15, 2021 will receive a distribution amounting to $1,265,000 or $0.110 per unit payable January 25, 2021.
Volumes, average price and net profits for the payment period were:
Volume (BOE) |
|
166,749 |
|
|
Average price (per BOE) |
|
$ |
35.31 |
|
Gross proceeds |
|
$ |
5,887,465 |
|
Costs |
|
$ |
4,229,026 |
|
Net profits |
|
$ |
1,658,440 |
|
Percentage applicable to Trust’s 80% |
|
|
|
|
Net profits interest |
|
$ |
1,326,752 |
|
MV Partners reserve for capital expenditures |
|
$ |
-- |
|
Total cash proceeds available for the Trust |
|
$ |
1,326,752 |
|
Provision for estimated Trust expenses |
|
$ |
(61,752 |
) |
Net cash proceeds available for distribution |
|
$ |
1,265,000 |
|
This press release contains forward-looking statements. Although MV Partners, LLC has advised the Trust that MV Partners, LLC believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended December 31, 2020. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, the effect, impact, potential duration or other implications of the COVID-19 pandemic, the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the period ended September 30, 2020 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Michael Ulrich
512-236-6599
Patrick Hickey, noted energy and financial management industry veteran, joins A&M
HOUSTON--(BUSINESS WIRE)--Leading global professional services firm Alvarez & Marsal (A&M) has appointed Patrick Hickey as a Managing Director in the firm’s Houston-based Energy group within its Corporate Performance Improvement (CPI) practice. Mr. Hickey’s appointment, combined with his 30-year energy and financial management track record, advances A&M’s commitment to develop solutions that address the market’s evolving needs.
Mr. Hickey specializes in energy and financial structuring for debt, equity and mezzanine financing within the oil and gas sectors. He has extensive experience originating, executing and managing complex transactions along with guiding upstream and midstream capital investments and has been involved with several restructurings.
Over the course of his career, Mr. Hickey has led or was directly involved in investments totaling over $7 billion, including energy investments spanning the Permian, Anadarko, Appalachia, Eagle Ford, and Utica basins as well as investments in the Gulf of Mexico and Canada. He also played a significant role in fundraising efforts, including marketing and due diligence meetings with potential investors for multiple sector opportunities.
Mr. Hickey has held numerous board appointments including Harvest Oil & Gas, formerly EV Energy Partners, LP (2018-2020); Elba Liquefaction Company, LLC, Kinder Morgan’s Elba Island LNG facility (2016-2020); Rosehill Resources (2017-2020); and Jonah Energy (2014-2020).
Lee Maginniss, a Managing Director with Alvarez & Marsal Corporate Performance Improvement and the group’s National Leader for its Energy practice, said, “Patrick’s deep experience across Energy industry sectors will enhance our ability to help clients adapt to significant disruptions underway. His experience as an energy industry operator, investor, board member and advisor is a great asset that will help us bring unique perspectives to our clients. His approach aligns with our leadership, action, results mindset for maximizing value for our clients.”
Prior to joining A&M, Mr. Hickey served as a senior advisor to Post Oak Energy Capital. He has also served as a Managing Director and a senior member of the EIG Global Energy Partner’s Houston-based oil and gas investment team. Additionally, Mr. Hickey has worked originating and executing mezzanine financings for oil and gas producers while with Duke Capital Partners and then with Wells Fargo Energy Capital. He has also served in various energy finance and marketing roles for Enron Corporation and worked for ARCO as a reservoir engineer.
Mr. Hickey earned a bachelor’s degree in petroleum engineering from the University of Texas and an MBA from Harvard Business School.
About Alvarez & Marsal
Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.
With over 5,000 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.
To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedIn, Twitter, and Facebook.
Kelsey Eidbo, Infinite Global, +1 414-505-0392
Sandra Sokoloff, Director of Global Public Relations
Alvarez & Marsal, 212-763-9853
HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE:USDP) (the “Partnership”) announced today that members of its senior management team will participate in the Goldman Sachs Global Energy Virtual Conference on January 6th and January 7th, 2021.
The related presentation materials will be made available on the Partnership’s website no later than 5:00pm Eastern Time on Tuesday, January 5, 2021, at www.usdpartners.com on the “Events & Presentations” sub-tab under the “Investors” tab.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USDG”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies and refiners. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.
USDG, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USDG solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG, along with its partner Gibson Energy, Inc., is pursuing long-term solutions to transport heavier grades of crude oil produced in Western Canada through the construction of a Diluent Recovery Unit at the Hardisty terminal, which is expected to be placed into service in the second quarter of 2021. USDG is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.
Category: Corporate
Adam Altsuler
Senior Vice President, Chief Financial Officer
(281) 291-3995
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Jennifer Waller
Director, Financial Reporting & Investor Relations
(832) 991-8383
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#RNG--Fortistar, a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges, announced today it joined an equity investment of up to $157 million in BayoTech, Inc., an emerging global leader in on-site hydrogen production, which was led by Newlight Partners LP. The financing round includes existing investors Cottonwood Technology Funds and the New Mexico State Investment Council under a fund managed by Sun Mountain Capital. The funds will be used to accelerate BayoTech’s strategic growth through product development, project development and infrastructure expansion.
BayoTech is an energy solutions company committed to addressing the global need for a consistent, cost-effective, low carbon supply of hydrogen. Hydrogen possesses many attributes that will drive long‐term demand as a fuel source, including its role in global decarbonization efforts. Today, most hydrogen is produced at large, centralized facilities before being delivered to end users. BayoTech, through its on-site hydrogen generators and “gas-as-a-service” offering, reduces or eliminates transportation and storage costs, resulting in less energy wasted and a lower carbon footprint than traditional hydrogen production technology and electrolyzer-based systems. The company’s modular, scalable, and rapidly deployable hydrogen production systems require lower upfront capital commitments, streamlined siting and installation and, when paired with renewable natural gas (RNG), offer the most cost-effective green hydrogen available today.
BayoTech’s hydrogen generation systems produce local hydrogen close to the application, serving a diverse set of end users, including traditional consumers in the industrial gas and chemicals industries, as well as those using hydrogen to power the fast-growing fuel cell segment.
“For 2021 and beyond, we’re looking to support emerging, proven solutions that help accelerate our country’s transition to a lower carbon and more sustainable future,” said Fortistar President Mark Comora. “We’re excited about our investment in BayoTech, which is already providing innovative ways to incorporate hydrogen into our economy today. With our help and BayoTech’s innovations, America just got one step closer to a net zero-carbon economy.”
“This is a momentous day in our company’s evolution. This investment will enable BayoTech to drive commercial growth aggressively so that consumers around the world can have access to low-cost and low- to zero-carbon hydrogen today,” said Mo Vargas, BayoTech’s President & Chief Executive Officer. “We are excited to welcome Fortistar, a leading investor in sustainability, who have developed almost 400 fueling stations and a $500 million capital investment program to produce over 100 million gas gallon equivalents of RNG. The transportation sector will play a critical role in accelerating the hydrogen economy and BayoTech and Fortistar have an amazing opportunity to build together and produce low-cost, green hydrogen using RNG with BayoTech’s generators to support this growth. The Fortistar team continues to show a great commitment to supporting emerging technologies in the clean energy space and we are honored to work with them to help transition the transportation sector to a more sustainable system.”
About Fortistar:
Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing companies, first in power generation and now in mobility, carbon capture, the circular economy and other solutions that drive our transition to a zero-carbon future. As a team, Fortistar has financed over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.Fortistar.com and follow the company on LinkedIn.
About BayoTech:
BayoTech is a hydrogen generation technology company offering hydrogen production solutions through rentals, leases, sales and gas-as-as-service to customers worldwide. Headquartered and produced in New Mexico, USA, BayoTech’s on-site hydrogen generators are more efficient than legacy steam methane reformers, leading to lower carbon emissions and low-cost hydrogen. Visit www.bayotech.us for more information.
About Newlight Partners LP:
Newlight Partners LP is a growth equity firm focused on building businesses with long-term growth potential in partnership with founders and exceptional management teams. For more than 15 years, the Newlight team has helped build successful enterprises in five sectors, including telecommunications, financial services, power & infrastructure, healthcare and business services. Led by David Wassong and Ravi Yadav, the Newlight team has invested approximately $6 billion in over 100 investments since 2005, first as the Strategic Investments Group at Soros Fund Management LLC (Soros), and now as Newlight after the team's spin out from Soros in 2018. Newlight has approximately $4 billion in capital commitments and assets under management. Please visit www.newlightpartners.com for more information.
Lily Thieneman
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BLOOMFIELD, Conn.--(BUSINESS WIRE)--Kaman Air Vehicles, a division of Kaman Corporation (NYSE: KAMN), today announced that the Agencia Nacional de Aviação Civil (ANAC) in Brazil has issued the Type Certificate for the Kaman K-1200 K-MAX® helicopter. Kaman has been marketing the K-MAX® helicopter to various Brazilian operators, power line, oil and gas firms, and engineering companies over the past two years, and this certification clears the path for K-MAX® operations in Brazil.
“The K-MAX® is ideally suited for operations throughout the country of Brazil,” said Roger Wassmuth, Senior Director of Business Development. “We believe the K-MAX® offers a cost-effective value proposition for infrastructure building of much needed power lines.”
“Kaman’s engineering team, working in conjunction with the FAA Boston Office and the ANAC offices, worked diligently to provide technical and operational information on the K-MAX®, and we are pleased that this important milestone has been realized,” said Darlene Smith, Vice President and General Manager of the Kaman Air Vehicles division.
The K-MAX® is a rugged, low-maintenance aircraft that features a counter-rotating rotor system and is optimized for repetitive external load operations. The aircraft can lift up to 6,000 pounds (2,722 kg) with unmatched performance in hot and high conditions.
About Kaman Corporation
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut, conducts business in the aerospace & defense, industrial and medical markets. Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAX® manned and unmanned medium-to-heavy lift helicopters. More information is available at www.kaman.com.
James Coogan
VP, Investor Relations and Business Development
Kaman Corporation
(860) 243-6342
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or
Roger Wassmuth
Senior Director, Business Development
Kaman Air Vehicles
(860) 243-7216 (office)
(860) 595-9112 (mobile)
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LONDON--(BUSINESS WIRE)--#GlobalResidentialSolarEnergyStorageMarket--The residential solar energy storage market is poised to grow by USD 26.59 bn during 2020-2024, progressing at a CAGR of about 37% during the forecast period.
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The report on the residential solar energy storage market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The report offers an up-to-date analysis regarding the current global market scenario and the overall market environment. The market is driven by rising energy costs.
The residential solar energy storage market analysis includes technology segment and geography landscape. This study identifies the increasing green construction spending and zero energy home as one of the prime reasons driving the residential solar energy storage market growth during the next few years.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The residential solar energy storage market covers the following areas:
Residential Solar Energy Storage Market Sizing
Residential Solar Energy Storage Market Forecast
Residential Solar Energy Storage Market Analysis
Companies Mentioned
Related Reports on Utilities Include:
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com
HOUSTON--(BUSINESS WIRE)--This is to advise you that BP Prudhoe Bay Royalty Trust (NYSE Symbol: BPT) announces that the dividend information for the Fourth Quarter of 2020 is as follows:
Ex-Dividend Date: |
January 14, 2021 |
Record Date: |
January 15, 2021 |
Payable Date: |
January 20, 2021 |
|
|
Dividend Rate: |
$0.0000000 per Unit* |
*Actual average daily production for the quarter was 75,382 BBLS. |
|
As provided in the Trust Agreement of the Trust, the quarterly royalty payment by Hilcorp North Slope, LLC (formerly BP Exploration (Alaska) Inc.) to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of such revenues is obtained by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes. As discussed in Item 1A “RISK FACTORS”, of the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, on January 1, 2020, the “break-even” WTI price (the price at which all taxes and prescribed deductions are equal to the WTI price) for the Trust to receive a positive Per Barrel Royalty with respect to a particular day’s production was $54.34. While the average fourth quarter 2020 WTI price increased to $42.66 from an average of $40.87 for the third quarter of 2020, moving within a range of approximately $36 to $49 per barrel, the daily WTI price was below the “break-even” point for each day of the quarter. This resulted in a negative value for the payment calculation for the fourth quarter of 2020. However, as provided in the Trust Agreement, the payment with respect to the Royalty Interest for any calendar quarter may not be less than zero.
Neither the Trust nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, the Trust’s subsequent Quarterly Reports on Form 10-Q, and all of the Trust’s other filings with the SEC. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Any questions, please feel free to contact The Bank of New York Mellon Trust Company, N.A. at 713-483-6020.
The Bank of New York Mellon Trust Company, N.A.
Elaina Rodgers
713-483-6020
LONDON--(BUSINESS WIRE)--#GlobalAntiReflectiveCoatingsMarket--The anti-reflective coatings market is poised to grow by $ 2.31 bn during 2020-2024, progressing at a CAGR of over 8% during the forecast period.
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The report on the anti-reflective coatings market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The report offers an up-to-date analysis regarding the current global market scenario and the overall market environment. The market is driven by growing demand from the solar industry.
The anti-reflective coatings market analysis includes application segment and geography landscape. This study identifies the emerging demand from APAC as one of the prime reasons driving the anti-reflective coatings market growth during the next few years.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The anti-reflective coatings market covers the following areas:
Anti-Reflective Coatings Market Sizing
Anti-Reflective Coatings Market Forecast
Anti-Reflective Coatings Market Analysis
Companies Mentioned
Related Reports on Materials Include:
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
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Website: www.technavio.com/
NEW YORK--(BUSINESS WIRE)--Star Peak Corp II (the “Company”), a blank check company sponsored by affiliates of Magnetar Capital LLC and Triangle Peak Partners, LP and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 35,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “STPC.U” beginning January 6, 2021. Each unit consists of one share of Class A common stock of the Company and one-fourth of one warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share, subject to adjustment, and only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “STPC” and “STPC WS,” respectively.
The offering is expected to close on January 8, 2021, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are acting as book running managers for the offering. The Company has granted the underwriters a 45-day option to purchase on a pro rata basis up to 5,250,000 additional units at the initial public offering price, less the underwriting discounts and commissions. The options may be exercised only to cover any over-allotments of units.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, telephone: (800) 221-1037 or email: This email address is being protected from spambots. You need JavaScript enabled to view it., or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-212-902-1171, facsimile: 212-902-9316 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
A registration statement relating to the securities became effective on January 5, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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 would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For more information, please contact:
Eric Scheyer
Chief Executive Officer
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For press inquiries, please contact:
Tricia Quinn
847.905.4500
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Company to Demonstrate New Lighting Innovations for Illumination, Sensing, and LiFi Communications at its All Digital CES Event, January 12 - 15, 2021
GOLETA, Calif.--(BUSINESS WIRE)--#CES2021--SLD Laser, a world leader in commercialization of laser light sources, has announced the production launch of the world’s first dual emission white light and infrared (IR) LaserLightTM source for automotive and consumer lighting, night vision illumination, precision long-range sensing beyond 250 meters, and high-speed LiFi communications faster than 20 gigabit per second. The company will demonstrate this pioneering innovation and its expanded, award-winning LaserLight product line during its virtual All Digital CES event exhibition and application showcase, January 12-15, 2021.
White/IR dual emission sources are critical for automotive lighting, advanced driver assistance systems (ADAS), and autonomous vehicle LiDAR 3D sensing, as well as mobility applications including avionics, drones, railway, and marine. Additionally, dual emission sources are required for consumer and professional product portable lighting products, night vision illuminators, and rangefinders for recreation and outdoor, search & rescue, and security applications. SLD’s new source delivers high brightness white light with 1 km beam distance, while independently producing IR illumination from the same emission spot to achieve ranging to more than 250 meters with 1% accuracy. Moreover, these sources generate LiDAR video imagery and data when integrated with sensor chips, to enable next generation 3D imaging headlights.
SLD’s new LaserLight Dual White/IR sources deliver high brightness, safe incoherent white light of 500 lumens with near infrared emission up to 1 watt average power and 100 watt peak power that can emit either together simultaneously or independently, depending on the needs of the application. The White/IR LaserLight source technology is available in several high volume product configurations including SLD’s MicroSpotTM module, FiberLight module, and SMD (surface mount device) component. Until now, high speed dual emission white/IR sources have not been possible because LEDs and legacy lamp-based light sources are unable to deliver high brightness dual wavelength emission from the same point source, and they are incapable of being modulated at the high speeds required for accurate sensing and fast data rates.
Utilizing the White/IR dual-emission LaserLight sources, SLD is now offering a commercial LiFi development kit with 1 gigabit per second data rate for customers to design LiFi into emerging optical communication applications for a myriad of mobility use cases, as well as future smart cities such as intelligent streetlights, and smart buildings such as healthcare facilities and factories. By delivering both white and IR from the same source and fusing together lighting, sensing, and communication functionalities, SLD’s LaserLight LiFi kit enables its customers to commercialize potent intelligent illumination systems. These systems will provide a unique combination of precision white lighting, accurate sensing and ultra-high speed communication with unconstrained optical bandwidth, as well as secure and efficient data transmission without RF interference of the incumbent WiFi technology.
SLD’s industry leading high brightness white light LaserLight products will also be showcased at its virtual CES event. Its automotive certified LaserLight Fiber sources are now deployed into multiple vehicle platform headlights and are on the road globally. SLD has been named a Grade A supplier for excellent quality by a leading global Tier 1 supplier and was recently ranked 7th in Fortune magazine’s prestigious “2020 Best Workplaces in Manufacturing & ProductionTM” companies. SLD’s white light sources were once again utilized by the winning drivers at the BFGoodrich SCORE Baja 1000 off-road race, the most prestigious off-road motorsport race.
SLD has expanded its white LaserLight sources with the introduction of the 1000 lumen SMD and MicroSpot, enabling low beam and high beam full field illumination, as well as off-road boost and ultra-wide angle panoramic illumination. These sources are more than 10 times brighter than LEDs, enabling safe stopping distance with precise illumination patterns and minimum glare, while meeting stringent safety regulations of UL and IEC. These LaserLight modules are 1/3 the size of LED sources, saving critical space in the car, and providing unmatched design freedom for ultra-thin styling possibilities. Utilizing the 1000 lumen source, SLD has extended its FiberLight source with transport and emissive fiber illumination up to 10,000 cd/m2 for ultra-bright lighting for vehicle exterior grills, logos, and interiors. With 10 times the brightness of LED solutions, these sources produce brilliant and efficient illumination from thin, low cost plug-and-play fiber optics and a modular light source.
SLD Laser will host virtual meetings at CES 2021 by appointment, live from SLD’s Silicon Valley light tunnel and LaserLight showroom. To schedule an appointment, please contact Kristen Hanna at This email address is being protected from spambots. You need JavaScript enabled to view it..
About SLD Laser
SLD Laser is pioneering a new generation of laser light sources for automotive, mobility, specialty lighting, and consumer applications. The company is ISO 9001 certified and automotive compliant to IATF 16949, and operates facilities in Santa Barbara, CA and in Fremont, CA. SLD Laser’s high luminance LaserLight sources are UL and IEC safety certified, and are utilized in a myriad of applications including automotive & mobility, specialty & portable lighting, entertainment & outdoor, projection & AR/VR displays, biomedical instrumentation & therapeutics, and industrial imaging & material processing. SLD Laser was founded in 2013 by several leading global pioneers in solid-state lighting, including Dr. Shuji Nakamura, 2014 Nobel Laureate in Physics, Dr. Steve Denbaars, Dr. James Raring, and Dr. Paul Rudy. To learn more about SLD Laser, visit www.SLDlaser.com or contact the company at This email address is being protected from spambots. You need JavaScript enabled to view it. or 1-866-SLD-LASE (1-866-753-5273).
Media Contact:
Kristen Hanna
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DUBLIN--(BUSINESS WIRE)--The "Leisure Boat Market Size, Share & Trends Analysis Report by Type (New Leisure Boat, Used Leisure Boat, Monitoring Equipment), by Region (North America, Europe, APAC, South America, MEA), and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global leisure boat market size is expected to reach USD 55.27 billion by 2027. It is expected to expand at a CAGR of 4.1% from 2020 to 2027. The increasing popularity of marine and coastal tourism, coupled with the growing inclination toward yachting as a recreational activity, is a primary factor driving the market. Although the ongoing Covid-19 pandemic has proved to be a major hindrance for the market, the gradual re-opening of the economies and upliftment of restrictions is paving the way to bring the market back on track. Besides, the growing urge among masses to involve in leisure activities in the post-lockdown period further presents bright opportunities for the market over the forecast period.
The tourism industry has changed drastically over the last few years with the increasing popularity of marine and coastal tourism activities. The world economy is witnessing healthy growth and markets, such as the U.S., are witnessing growth in the per-capita income of the individuals, which, in turn, has resulted in a rise in the disposable income of consumers. Moreover, there has been a rise in the number of High Net Worth Individuals, which is expected to drive consumers to spend more on leisure activities, thus boosting demand for recreational boats.
The increasing number of boat shows and water sporting events are attracting a large number of boaters worldwide. The leading manufacturers are sponsoring boat shows and events, which, in turn, is enhancing the popularity of leisure boats. North America is poised to remain the most prominent region in terms of revenue generation during the forecast period. The rising demand for recreational watercraft is driven by factors such as improving economic conditions and the rising disposable income of consumers in the region. The U.S. is anticipated to witness significant growth over the forecast period. Demand in the country is majorly driven by factors such as the increasing number of high net worth individuals and the growing popularity of water sports and fishing activities.
Furthermore, there are changes taking place in boat building, such as the adoption of IoT technology that enables appliances, physical structures, vehicles, smartphones, wearable devices, and heavy equipment to be connected to each other, while facilitating an exchange of information through a single network. The connected boat provides enhanced safety, security, and accuracy, while also improving the efficiency of the boat by digitalizing and optimizing various functions.
Leisure Boat Market Report Highlights
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variable, Trends & Scope
3.1. Market Lineage Outlook
3.2. Leisure Boat Market Dynamics
3.3. Penetration & Growth Prospect Mapping
3.4. Leisure Boat Market Industry Analysis - Value Chain
3.5. Leisure Boat Market Industry Analysis - Porter's
3.6. Leisure Boat Market Industry Analysis - PEST
Chapter 4. Leisure Boat Market: Type Outlook
4.1. Leisure Boat Market: Type Analysis
4.1.1. New Leisure Boat
4.1.2. Used Leisure Boat
4.1.3. Monitoring Equipment
Chapter 5. Leisure Boat Market: Regional Outlook
5.1. Leisure Boat Market Share By Region, 2019 & 2027
5.2. North America
5.3. Europe
5.4. Asia Pacific
5.5. South America
5.6. Middle East & Africa
Chapter 6. Competitive Analysis
6.1. Recent Developments & Impact Analysis, by Key Market Participants
6.2. Company/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
6.3. Vendor Landscape
6.3.1. Key Company Analysis, 2019
6.4. Company Analysis
Chapter 7. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/q8h3w4
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DUBLIN--(BUSINESS WIRE)--The "Global Shale Gas Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The shale gas market is poised to grow by $13.51 bn during 2021-2025, progressing at a CAGR of 4% during the forecast period.
The report on shale gas market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the advantages associated with shale gas and increasing consumption of natural gas. This study identifies the growing investments in shale as one of the prime reasons driving the shale gas market growth during the next few years.
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading shale gas market vendors that include BP Plc, Chevron Corp., China Petrochemical Corp., ConocoPhillips, Devon Energy Corp., Exxon Mobil Corp., Occidental Petroleum Corp., PetroChina Co. Ltd., Royal Dutch Shell Plc, and Total SA.
Also, the shale gas market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
For more information about this report visit https://www.researchandmarkets.com/r/bubg03
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AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment will design and supply advanced ash-handling equipment to a U.S. power plant customer. The contract is valued at more than $10 million.
The project scope includes the design and supply of eight innovative, patented Allen-Sherman-Hoff® Submerged Grind Conveyors (SGC), a transfer conveyor, blowers and other equipment.
As the U.S. Environmental Protection Agency implements new effluent limitation guidelines (ELG) and combustion residuals (CCR) requirements, B&W Environmental’s SGC systems offer plant owners an affordable and reliable option to manage ash and protect the environment.
“We’re seeing significant demand for our SGC technology from plant owners looking to comply with new environmental standards,” said B&W Chief Operating Officer Jimmy Morgan. “Our advanced ash handling system offers a simplified, flexible design for effective bottom ash transport and dewatering, and eliminates the need for ash ponds altogether.”
B&W Environmental’s SGC is strategically designed and sized so that it doesn’t require the removal or displacement of bottom ash hoppers or slag tanks, ash gates, clinker grinders, transfer enclosures and other existing equipment. Installation can be accelerated to save time at a lower cost than other bottom ash conveyance systems.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
About B&W Environmental
Babcock & Wilcox Environmental offers a full suite of best-in-class emissions control products and solutions for utility and industrial steam generation applications around the world. The segment’s broad experience includes systems for ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control, along with cooling solutions.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to design and supply ash-handling equipment for a U.S. power plant. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Instrument detects emissions invisible to other equipment in real time
SAN ANTONIO--(BUSINESS WIRE)--Southwest Research Institute has expanded its capability to evaluate internal combustion engine aftertreatment catalysts, integrating an existing SwRI technology with a mass spectrometer. To meet emission regulations, engine manufacturers install aftertreatment systems to treat exhaust and reduce harmful pollutants escaping into the environment. Aftertreatment system components undergo stringent testing to ensure they effectively decrease pollutants. SwRI is bolstering the testing process by incorporating a mass spectrometer, enabling a broader range of aftertreatment performance evaluations in real time.
A mass spectrometer identifies a molecule by analyzing its mass-to-charge ratio, detecting chemicals invisible to other instruments. Researchers added the mass spectrometer to SwRI’s Universal Synthetic Gas Reactor (USGR®), a catalyst performance testing solution that incorporates a Fourier Transform Infrared (FTIR) spectrometer, which uses IR radiation to identify and quantify molecules present in a gas sample. Different chemical structures absorb light at specific wavelengths, producing unique spectral fingerprints. The combination of technologies provides simultaneous FTIR and mass spectrometry data, allowing accurate and rapid identification of exhaust stream components.
“We integrated a mass spectrometer with the USGR system to overcome the limitations of the FTIR spectrometer, which cannot monitor chemicals that are infrared inactive like dinitrogen, oxygen and hydrogen,” said Dr. Grant Seuser, a postdoctoral researcher in SwRI’s Powertrain Engineering Division who led the project. “The mass spectrometer can detect a broader range of exhaust components, allowing a more complete picture of aftertreatment system performance.”
The FTIR monitors pollutants, while the mass spectrometer detects hydrogen, oxygen and dinitrogen formation, providing data to build comprehensive scientific models of the catalyst. The merger of the technologies enables testing of three-way catalysts in real time.
“Real-time information is important,” Seuser said. “Emission regulations are based on the total amount of pollution emitted. When we are testing equipment that controls emissions, we not only need to know how much pollution is leaving the tail pipe, but also exactly when it is emitted. Real-time monitoring helps us identify problems faster.”
The successful integration of a mass spectrometer with the USGR system has widened the scope of testing possibilities beyond aftertreatment systems. Other uses include measuring engine emissions directly, monitoring chemical processes, environmental monitoring, battery testing and much more. SwRI offers the specialized evaluation and development services to a range of clients, including engine, vehicle and catalyst manufacturers.
For more information, visit https://www.swri.org/industry/emissions/catalyst-analysis-services.
https://www.swri.org/press-release/mass-spectrometer-enhances-automotive-catalyst-testing
Lisa M. Pena • (210) 522-2046 or This email address is being protected from spambots. You need JavaScript enabled to view it.
To stay competitive, suppliers should consider zero-emissions vehicles and low carbon fuels
BOULDER, Colo.--(BUSINESS WIRE)--#Biofuels--A new report from Guidehouse Insights examines the corporate trend toward climate action planning and provides recommendations for logistics suppliers to retain a competitive edge.
Corporations are responding to consumer and employee demands for more sustainable products and services with ambitious targets for greenhouse gas (GHG) emissions reductions. At the same time, zero emissions solutions in transportation are becoming more viable: EVs powered by renewables are poised to take over urban delivery markets and passenger transport, and fuel cell and battery electric truck makers are preparing solutions for long-haul trucking. A variety of other zero-emissions, low carbon, and even negative-emissions solutions are also emerging. Click to tweet: According to a new report from @WeAreGHInsights, logistics suppliers should expect corporate clients to push strongly for decarbonization—and be prepared to respond.
“Leading suppliers are expected to find innovative ways to deploy and use low carbon and zero-emissions technologies to meet new client demands related to decarbonizing supply chains,” says Scott Shepard, senior research analyst with Guidehouse Insights. “Slower-to-act suppliers risk losing business to the innovative suppliers or to more emissions-efficient modes of transportation, such as rail.”
For suppliers looking to meet client demands, Guidehouse Insights recommends planning for an all-electric fleet and increasing the visibility of fleet emissions performance data. Suppliers should also take an inventory of local biofuel options and identify untapped biofuel feedstocks. Additionally, Guidehouse Insights recommends investing gradually and sharing costs with stakeholders.
The report, Climate Action Plans Driving Logistics Decarbonization, covers the corporate trend toward climate action planning and the many ways in which logistics suppliers can respond to client demands. The report includes an assessment of methods for switching to non-diesel fuels, an evaluation of the fuels and vehicles best positioned for the switch, and recommendations for identifying emissions-savings opportunities with legacy vehicles and infrastructure. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Climate Action Plans Driving Logistics Decarbonization, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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Report features company's response to the COVID-19 pandemic and its efforts to achieve net-zero carbon electricity by 2050.
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE) has published its annual Corporate Responsibility and Sustainability Report, detailing its sustainable energy goals and findings from the University of Wisconsin's analysis of the company's goal of net-zero carbon electricity by 2050. The report covers the company's response to the COVID-19 pandemic, its clean energy investments and its partnerships with customers and other stakeholders to advance sustainability and to serve the community. The report is available at mge.com/sustainability.
"MGE is committed to corporate responsibility, to environmental leadership and to a more sustainable energy future for the benefit of our customers, investors and the broader community," said Chairman, President and CEO Jeff Keebler. "By working with customers to decarbonize our energy supply, advance energy efficiency and electrify transportation, we can meet our goal of net-zero carbon by 2050. If we can go further faster through the use of new technologies and partnerships with our customers and communities, we will."
Report highlights
The 2020 Corporate Responsibility and Sustainability Report features information about MGE's corporate strategy and climate-related matters, safety and operations, customer and employee engagement, governance and oversight. Highlights include:
Commitment to transparency and disclosure
MGE's report is consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). MGE is committed to helping customers, investors and other stakeholders better understand the company's long-term strategies, challenges and opportunities as it transitions to a more sustainable, net-zero carbon future.
MGE also continues to participate in the Edison Electric Institute's (EEI) environmental, social, governance (ESG) and sustainability reporting templates. EEI, which represents all U.S. investor-owned electric companies, developed the voluntary, industry-specific templates to provide more uniform and consistent reporting of data and information from the electric sector. The templates include data related to MGE's portfolio (generation and capacity), emissions, capital expenditures, human and natural resources, and other matters. The templates are available at mgeenergy.com/environment.
About MGE
MGE generates and distributes electricity to 155,000 customers in Dane County, Wis., and purchases and distributes natural gas to 163,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Kaya Freiman
Corporate Communications Manager
608-252-7276 | This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Geopolitical Instability Such as Chinese Naval Expansionism Driving Evolution Across the Global Naval Command and Control Market" report has been added to ResearchAndMarkets.com's offering.
A command and control (C2) system provides information to maritime decision-makers by generating meaningful output pertinent to their operational requirements and mission objectives. If a sensor package identifies a threat, it is relayed to the C2 system, accounting for environmental data from other systems. The C2 system displays and processes all information, relaying it to and from weapon systems, so that the ship may engage optimally and eliminate a threat appropriately.
This report divides C2 systems into two segments: command management systems and combat management systems. A command management system is the overarching C2 system that will display and manage information from a variety of subsystems to inform decisions. The combat management system is used in conjunction with the command management system to track, assess, and engage threats.
This global research service investigates changing concepts in operations, whilst covering wider geopolitical and market drivers and restraints. A discussion is provided for current technological trends and developments within the global C2 market that readers should be aware off.
C2 systems will evolve as maritime systems become more autonomous; fewer naval personnel will be needed with the proliferation of unmanned systems. Increasingly, naval warfare will take place across a multi-domain battlespace with further integration of air, maritime, and land-based C2 domains.
New weapon systems are driving developments in C2 requirements, such as directed energy weapons, railguns, and hypersonic systems. These systems will need to be integrated into current C2 systems, which will have to manage the increased power requirements. Hypersonics is predominantly driving the requirement for C2 systems to be linked across domains and countries in order to engage through other systems' sensors.
Research Highlights
Key Topics Covered:
1. Strategic Imperatives
2. Executive Summary
3. Research Scope and Methodology
4. General Market Trends
5. Growth Opportunities Analysis
6. Naval Warfare Concepts and C2
7. Technology
8. Growth Opportunities
9. The Last Word
For more information about this report visit https://www.researchandmarkets.com/r/gd687
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER--(BUSINESS WIRE)--Whiting Petroleum Corporation (NYSE: WLL) (“Whiting” or the “Company”) today announced its 2021 capital, operating costs and production guidance, reflecting an operating plan focused on delivering sustainable free cash flow.
2021 Guidance Highlights
Commenting on the operational plan, Lynn A. Peterson, President and CEO of Whiting, said “We believe Whiting is well positioned financially and operationally as we enter 2021. We exited 2020 with $360 million of revolver debt, providing $390 million of liquidity. With this 2021 capital program we anticipate holding production flat on an annual average, as compared to our 2020 exit levels. We have protected our capital program by hedging the prices of approximately 60% of our expected crude oil volumes. With additional contractual arrangements, we’ve taken steps to further mitigate the potential for wider differentials in the Williston Basin while ensuring flow of our crude oil production. We expect 2021 wellhead deducts for oil to be similar compared to what we realized in the second half of 2020 with potential variability resulting from possible transportation disruptions. The 2021 program is designed to generate significant free cash flow, which will be used to pay down revolver debt and provide liquidity to look for opportunities.”
Commenting on Whiting’s anticipated pay-for-performance framework, Mr. Peterson added “we continue to make changes to our compensation structure with the goal of aligning our executive pay with shareholder interests. Our variable compensation will be heavily performance weighted and equity will comprise a larger part of the total compensation package.”
Outlook for Full-Year 2021
The following table provides guidance for the full-year 2021 based on current forecasts.
|
|
|
|
|
|
|
|
Full-Year Guidance 2021 |
Production (MBOE per day) |
|
82 - 88 |
Oil production (MBO per day) |
|
48 - 52 |
Capital expenditures (MM) |
|
$ 228 - $ 252 |
Lease operating expense (MM) |
|
$ 220 - $ 245 |
General and administrative cash expense (MM) |
|
$ 48 - $ 52 |
Virtual Conference Participation and Updated Investor Presentation
Whiting will be hosting 1x1 sessions with investors at the Goldman Sachs Global Energy Conference held virtually on January 6, 2020. Presentation slides will be available at http://www.whiting.com by clicking on the “Investor Relations” box on the menu and then on the link titled "Presentations & Events.”
About Whiting Petroleum Corporation
Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company engaged in the development, production and acquisition of crude oil, NGLs and natural gas primarily in the Rocky Mountains region of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and Montana and the Niobrara play in northeast Colorado. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit http://www.whiting.com.
Forward-Looking Statements
This news release contains statements that we believe to be “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 historical facts, including, without limitation, statements regarding our future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.
These risks and uncertainties include, but are not limited to: risks associated with our emergence from the chapter 11 bankruptcy; declines in, or extended periods of low oil, NGL or natural gas prices; our level of success in exploration, development and production activities; risks related to our level of indebtedness, our ability to comply with debt covenants, periodic redeterminations of the borrowing base under the our credit agreement and our ability to generate sufficient cash flows from operations to service our indebtedness; our ability to generate sufficient cash flows from operations to meet the internally funded portion of our capital expenditures budget; our ability to obtain external capital to finance exploration and development operations; negative impacts from outbreaks of communicable diseases, including the COVID-19 pandemic; our inability to access oil and gas markets due to market conditions or operational impediments, including any court rulings which may result in the inability to transport oil on the Dakota Access Pipeline; negative impacts from litigation and legal proceedings, including ongoing claims in connection with the chapter 11 bankruptcy; the impact of negative shifts in investor sentiment towards the oil and gas industry; impacts resulting from the allocation of resources among our strategic opportunities; the geographic concentration of our operations; impacts to financial statements as a result of impairment write-downs and other cash and noncash charges; federal and state initiatives relating to the regulation of hydraulic fracturing and air emissions; revisions to reserve estimates as a result of changes in commodity prices, regulation and other factors; inaccuracies of our reserve estimates or our assumptions underlying them; the timing of our exploration and development expenditures; risks relating to decreases in our credit rating; market availability of, and risks associated with, transport of oil and gas; our ability to successfully complete asset dispositions and the risks related thereto; our ability to drill producing wells on undeveloped acreage prior to its lease expiration; shortages of or delays in obtaining qualified personnel or equipment, including drilling rigs and completion services; weakened differentials impacting the price we receive for oil and natural gas; risks relating to any unforeseen liabilities of ours; the impacts of hedging on our results of operations; adverse weather conditions that may negatively impact development or production activities; uninsured or underinsured losses resulting from our oil and gas operations; lack of control over non-operated properties; failure of our properties to yield oil or gas in commercially viable quantities; the impact and costs of compliance with laws and regulations governing our oil and gas operations; the potential impact of changes in laws that could have a negative effect on the oil and gas industry; impacts of local regulations, climate change issues, negative public perception of our industry and corporate governance standards; our ability to replace our oil and natural gas reserves; unforeseen underperformance of or liabilities associated with acquired properties or other strategic partnerships or investments; competition in the oil and gas industry; any loss of our senior management or technical personnel; cybersecurity attacks or failures of our telecommunication and other information technology infrastructure; and other risks described under the caption “Risk Factors” in Item 1A of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and our Annual Report on Form 10‑K for the period ended December 31, 2019. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release.
Brandon Day
Investor Relations Manager
303‑837‑1661
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Acquisition includes the International Emergency Response Coordination Center (IERCC)
SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--Garmin® International and Garmin Services, units of Garmin Ltd. (NASDAQ: GRMN), today announced the acquisition of substantially all the assets of GEOS Worldwide Limited and its subsidiaries. A privately held, industry leading provider of emergency monitoring and incident response services, GEOS Worldwide operates the International Emergency Response Coordination Center (IERCC), the nerve center for SOS rescue efforts triggered by Garmin’s inReach® personal satellite communicators. The IERCC’s skilled response coordinators have fielded more than 83,000 emergency incidents around the globe since 2007, including more than 5,000 SOS incidents generated by Garmin customers.
“With this acquisition, Garmin is now able to provide even more peace of mind to our inReach users,” said Brad Trenkle, vice president of Garmin’s outdoor segment. “In an emergency, every moment matters. The addition of the IERCC to the Garmin family reinforces our commitment to helping our active lifestyle customers make it home safe from their adventures.”
“GEOS has enjoyed a strong collaboration with Garmin over the years, and we look forward to continuing to work together to continue to provide best-in-class emergency response and safety services for customers around the globe,” said Peter Chlubek, GEOS executive chairman. “GEOS has been a force for good in this world, and I am very proud of our superb staff, who have helped to save over 12,000 lives in the 198 countries where we have provided our global service. This will now continue to grow and be further enhanced thanks to new synergies with Garmin.”
GEOS Worldwide’s primary operations are in Montgomery, Texas. Financial terms of the acquisition will not be released.
Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor lifestyles. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin or youtube.com/garmin.
About Garmin: Garmin Ltd. (Nasdaq: GRMN) is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2019, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Krista Klaus
913-397-8200
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