DAVIDSON, N.C.--(BUSINESS WIRE)--Haskel Hydrogen Group, a business of the Precision and Science Technologies Segment at Ingersoll Rand Inc. (NYSE:IR), and Bonett, the largest natural gas vendor in the Czech Republic and Poland, announced an order for Geno hydrogen refueling stations for deployment at Unipetrol public fueling stations throughout the Czech Republic.
Haskel Hydrogen Systems supports global refueling infrastructure for hydrogen mobility. With expected deployment of the first station in summer 2021, Haskel is proud to collaborate with Bonett and Unipetrol to bring commercial hydrogen refueling to the Czech Republic.
“We applaud Bonett and Unipetrol’s (part of PKN Orlen Group) leadership in bringing the first hydrogen stations to this region and offering consumers zero-emission choices,” stated Stephen Learney, general manager of Haskel. “We’re proud the Geno range of hydrogen refueling stations will provide green, safe and reliable vehicle refueling to meet Unipetrol customer needs.”
The Geno range, part of Haskel’s suite of hydrogen mobility infrastructure solutions, offers hydrogen refueling for large fleet operators. The stations are ideally designed for refueling heavy duty and light duty passenger vehicles, as well as material handling. In addition to Geno, Haskel’s Nano Range offers solutions for small fleet operators.
In partnership with Haskel, Bonett will supply the first hydrogen stations not only in the country but also in the Central Eastern Europe (CEE) region. “The success in such a prestigious hydrogen tender is the highest achievement for us. We will follow up this project with other hydrogen activities and implementations,” added Václav Holovčák, member of the Board of Directors of the Bonett Group.
Haskel will deliver the Geno hydrogen refueling stations and work alongside Bonett, who will manage the integration of the hydrogen fueling stations at existing Unipetrol stations in Prague, Brno and Litvinov.
About Haskel
Haskel, a business of the Precision and Science Technologies Segment at Ingersoll Rand, is the high-pressure solution provider for critical applications in hydrogen, aviation, defense and aerospace, oil and gas, and other industries. With nearly 75 years of expertise, Haskel’s leadership in the market is built on a reputation of safety, reliability, and the highest quality. Ingersoll Rand (NYSE:IR), is a global leader in mission-critical flow creation and industrial technologies. For more information, visit www.IRCO.com.
About Unipetrol
The Unipetrol Group is the largest refinery and petrochemical company in the Czech Republic. It focuses on crude-oil processing and on the production, distribution and sale of vehicle fuels and petrochemical products. In all these areas, it belongs among the important players on the Czech and Central European market. The Unipetrol Group encompasses refineries and production plants, Unipetrol also includes a network of 417 Benzina filling stations in the Czech Republic and Slovakia. Unipetrol is a member of the PKN Orlen Group, the largest crude-oil processor in Central Europe.
About Bonett
Bonett is the largest specialised supplier of alternative-fuel technologies in the Central Europe and the second largest CNG seller in the Czech Republic. The group is presented on the Czech, Polish and Slovak markets. Bonett operates 45 CNG own stations with an investment value exceeding EUR 15 million and has a 15% share of CNG sales in the Czech Republic. The Group’s objectives are to achieve an important position in hydrogen and LNG installations and to produce and sell bio-methane in its network. The Group’s total investments in the CEE region are planned for at least EUR 30 million.
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LONDON--(BUSINESS WIRE)--#GlobalTurbineOilMarket--The global turbine oil market size will grow by 1.5 million MT, progressing at a CAGR of over 5% during 2020-2024. Technavio's research report indicates negative growth in the short term due to the spread of the COVID-19 pandemic. The imposition of lockdowns has severely impacted the sales of vendors operating in the market. Also, the market witnessed a significant drop in oil prices due to the pandemic. However, market growth is expected to gain traction due to the rising global energy demand and increasing investments in gas-based power generation projects.
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"One of the primary growth drivers for this market is the popularity of these bio-lubricants,” says a senior analyst for the Energy industry at Technavio. The rising awareness and concern towards the reduction of carbon emissions have led to an increase in the preference for sustainable alternatives such as bio-based lubricants among end-users. Besides, bio-based lubricants are consumed in lower concentrations in comparison with conventional metalworking fluids. They possess outstanding oxidation and thermal stability and excellent anti-wear properties. These factors are expected to foster market growth during the forecast period.
Turbine Oil Market Segment Highlights for 2020
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NASHUA, N.H.--(BUSINESS WIRE)--BAE Systems received a $60 million contract from Lockheed Martin to manufacture and deliver additional advanced missile seekers for the Long Range Anti-Ship Missile (LRASM). The seeker comprises long-range sensors and targeting technology that help the stealthy missile find and engage protected maritime targets in challenging electromagnetic environments.
“Our warfighters need resilient, long-range precision strike capabilities to compete with modern adversaries,” said Bruce Konigsberg, Radio Frequency Sensors product area director at BAE Systems. “We’re proud to partner with Lockheed Martin in delivering this distinct competitive advantage to U.S. warfighters.”
LRASM combines extended range with increased survivability and lethality to deliver long-range precision strike capabilities. LRASM is designed to detect and destroy specific targets within groups of ships by employing advanced technologies that reduce dependence on intelligence, surveillance and reconnaissance platforms, network links, and GPS navigation in contested environments.
This LRASM seeker contract continues the transition of the program from Accelerated Acquisition to Low Rate Production. BAE Systems has delivered more than 50 systems to date that have demonstrated excellent technical performance over multiple test events. The company also is working to make the seeker system smaller, more capable, and more efficient to produce.
BAE Systems’ LRASM seeker technology builds on the company’s decades of experience designing and producing state-of-the-art electronic warfare technology, and its expertise in small form factor design, signal processing, target detection, and identification.
Work on the LRASM sensor will be conducted at BAE Systems’ facilities in Wayne, New Jersey; Greenlawn, New York; and Nashua, New Hampshire. For additional information, visit: www.baesystems.com/lrasm.
Mark Daly, BAE Systems
Mobile: 603-521-2381
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SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe Saudi Arabia has been awarded a $5.1 million contract by Nesma & Partners Contracting Co. Ltd. for the provision of thermally insulated pipe and field joints for a district cooling network for Umm Al Qura for Development & Construction Company (UAQ), in the King Abdul Aziz Road Development (KAAR). The combined value of contracts awarded to Perma-Pipe Saudi Arabia in Q3 2020 was $5.7 million.
The project will utilize Perma-Pipe’s premier engineered POLY-THERM® insulation system, a spray-applied polyisocyanurate foam jacketed with a tough fiberglass reinforced outer jacket. POLY-THERM® complies with the stringent flame-spread index and smoke development index requirements of ASTM E84 Class-1 making the product suitable for applications where fire protection is paramount. The project will begin execution in Perma-Pipe’s facilities in Dammam Industrial City, Saudi Arabia in Q4 2020.
Raed Al Saleh, General Manager for Perma-Pipe Saudi Arabia states, “Perma-Pipe looks forward to continuing our partnership with Nesma & Partners and UAQ. We are proud to be a part of such a strategic and significant project which will alleviate pressure in the city, improve transport efficiencies and provide superior services for citizens, visitors and pilgrims to the Holy City of Makkah.”
Grant Dewbre, Sr. Vice President for Perma-Pipe’s MENA region continues, "We believe that our technical ability to have truly delivered an ASTM E84 Class 1 material differentiates us from others. We value our well-established relationship with Nesma & Partners and look forward to supporting them on this project by ensuring that we meet the delivery requirements.”
David Mansfield, President and CEO commented, "We thank our customer for this award which reinforces our commitment to establishing 'Partners in Excellence.' We are pleased to see that Saudi Arabia continues to progress with major projects during these challenging times and look forward to being part of the upcoming mega-projects that are currently planned.”
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
847.929.1200
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ROLLING MEADOWS, Ill.--(BUSINESS WIRE)--rf IDEAS, a leading manufacturer of credential readers for logical access and authentication, and Datasec Solutions Pty Ltd, a respected supplier of authentication and encryption end-point solutions (CypherKey), today announced a partnership to bring to market a highly scalable, secure mobile credential solution portfolio based on rf IDEAS Bluetooth® Low Energy enabled WAVE ID Mobile readers and Datasec’s unique secure authentication platform.
The WAVE ID Mobile readers provide smartphone users with contactless logical access to workstations, networks, applications, secure printers and more, while also offering support for nearly any physical proximity or contactless smart card in use worldwide. The new, highly robust mobile credential developed by Datasec and available for purchase from rf IDEAS will give users across all markets and industries a compelling option for seamless, touchless and secure logical access.
“With the recent expansion of our mobile credential and reader portfolio, we have brought the security, convenience and touchless safety of mobile authentication to users in the current Work-From-Everywhere environment,” said Tod Besse, senior vice president for global sales and marketing at rf IDEAS. “This partnership will allow our customers to take advantage of Datasec’s impressive secure authentication platform, backed by our award-winning expertise and personalized customer service.”
“Datasec is extremely excited about the partnership with rf IDEAS. It is a great opportunity to partner with a world leader in RFID and BLE card readers in what is a great synergy for both companies that will deliver highly secure authentication and access solutions to rf IDEAS customers,” says Paul Waite, Founder of Datasec Solutions.
The new mobile credential solution is expected to be available on an annual subscription basis early in 2021, and will be compatible with rf IDEAS WAVE ID Mobile readers already shipping in volume. To learn more, contact an rf IDEAS representative at This email address is being protected from spambots. You need JavaScript enabled to view it..
About rf IDEAS
rf IDEAS, Inc. is a leader in logical access solutions for healthcare, manufacturing, government and enterprise. Backed by the company’s strong partnerships with leading identity access management providers, rf IDEAS readers enable innovative solutions for single sign-on, secure printing, attendance tracking and other applications that require authentication. rf IDEAS readers support nearly all credentials worldwide including the growing set of mobile credentials. For more information, visit www.rfIDEAS.com.
About Datasec Solutions Pty Ltd
Datasec Solutions Pty Ltd is an IT security company that develops, implements and supports encryption and authentication end-point solutions (CypherKey and Cryptix) with a view to solving critical security and compliance issues when organizations transmit or access private or business sensitive information. For more information, visit www.datasec.com.au.
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BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) expects to announce 2021 guidance before markets open on Jan. 11, 2021. Management expects to provide an update on the company's financial outlook, capital investment, municipal acquisition program and ESG objectives. The company will also host a conference call with financial analysts on Monday, Jan. 11, 2021 at 11 a.m. Eastern Standard Time. The call and presentation will be webcast live so interested parties may listen over the internet by logging on to Essential.co and following the link for Investors.
The conference call will be archived in the Investor Relations section of the company’s website for 90 days following the call. Additionally, the call will be recorded and made available for replay at 2 p.m. on Jan. 11, 2021 for 10 business days following the call. To access the audio replay in the U.S., dial 888.203.1112 (pass code 1177890). International callers can dial +1 719.457.0820 (pass code 1177890).
About Essential
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which generally include words such as “believes,” “expects,” “intends,” “anticipates,” “estimates” and similar expressions. The Company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent its views only as of today and should not be relied upon as representing its views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause the company’s actual results to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to statements relating to the capital to be invested by the water, wastewater, and gas distribution divisions of the Company. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including the factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which is filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with The Company’s business, please refer to the Company’s annual, quarterly and other SEC filings. The Company is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
WTRGF
Brian Dingerdissen
Essential Utilities Inc.
Investor Relations
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NORWALK, Conn.--(BUSINESS WIRE)--Smart grid technology leader Tantalus Systems is excited to recognize two utilities leveraging their smart grid and AMI solutions to help keep their local communities thriving despite ongoing challenges arising from the COVID-19 pandemic.
During Tantalus’ annual Users Conference, Tantalus recognized Morristown Utilities (MU) and Pulaski Electric System (PES) as co-recipients of this year’s Community Strong award which included a contribution of $5,000 to each utility in support of their programs to provide economic assistance to customers who are unable to pay their utility bills.
“As we consider the implications of the ongoing COVID-19 pandemic and the growing crisis for individuals across North America who are at risk of losing vital utility services due to an inability to pay for power and water, Tantalus remains steadfast in its commitment to enable public power and electric cooperative utilities to proactively support their communities and members. As we evaluated submissions received from utilities across our User Community for our Community Strong award, we chose to recognize two utilities for going above and beyond their core responsibility of delivering electricity and water by providing immediate economic assistance to individuals struggling to pay their power bills,” said Peter Londa, President & CEO of Tantalus Systems. “I am truly honored to highlight Morristown Utilities and Pulaski Electric System as recipients of this year’s Community Strong award and acknowledge their dedicated efforts to serve their communities during these challenging times.”
MU and PES each committed matching funds in partnership with the Tennessee Valley Authority (TVA) to provide economic assistance to those in need of help to pay their monthly utility bills. PES provided $20,000 in direct economic relief across their community in response to the COVID-19 pandemic. In addition, PES postponed disconnects for four months when the pandemic first began. PES is currently providing support across Giles County through a second round of their Community Care Fund, which is where the $5,000 Community Strong award from Tantalus will be allocated, increasing the overall fund to $25,000.
Through Project Help, MU partnered with TVA to initially create a $60,000 fund to support their customers who required assistance paying monthly utility bills ensuring that power would stay on at their homes. As the ongoing COVID-19 pandemic continues to impact their community, MU launched Operation Help whereby businesses and individuals may donate funds to support customers of MU who are in need of economic assistance. The contribution from Tantalus will be placed into this new program, which includes matching dollars from MU up to $50,000.
“We are honored to be recognized as a Community Strong recipient for our program which has gained the attention and support of members from our own community who have also made donations to assist their neighbors,” said Jody Wigington, General Manager, Chief Executive Officer at Morristown Utilities. “Project Help provided immediate assistance to those in need during these troubling times. In addition to providing economic assistance, we simultaneously leveraged Tantalus’ smart grid and advanced metering capabilities to identify those who were falling behind on their bills and provide them with flexible options to get back on track and maintain vital services for their family. Our new program, Operation Help, will similarly assist individuals and we truly appreciate Tantalus’ recognition and contribution in helping our community navigate through this pandemic.”
Learn more about all of the 2020 Community Strong submissions that showcase how Tantalus’ customers are supporting programs that make their communities a better place to live for their customers.
About Tantalus
Over the past three decades, Tantalus has consistently and creatively delivered mission-critical technology solutions that enhance the safety, security, reliability and efficiency of public power and electric cooperative utilities across North America and the Caribbean Basin. By leveraging technology, Tantalus empowers utilities to transform their distribution grids from systems designed to support one-way power flow into a connected network of devices capable of supporting multi-directional power flow from solar panels, distributed storage and electric vehicles. The solutions and tools delivered by Tantalus enable utilities to also engage proactively with their customers and members, to be more responsive and reliable, pinpoint where to make capital investments to improve the resiliency of their grids, and generate cost savings by streamlining system operations. Tantalus’ comprehensive suite of smart grid solutions includes advanced metering infrastructure, demand-management technologies, data analytics, distribution automation and street lighting control systems - a broad portfolio built purposefully to support smart community initiatives essential to both the near-term and long-term success of the utilities Tantalus supports and the communities they serve.
Jacquie Hudson
613-552-4244
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Customer Protections, Financial-Assistance Programs and Other Resources Are Ready and Here to Help During These Trying Times
SAN FRANCISCO--(BUSINESS WIRE)--As COVID-19 cases rise throughout the state, Pacific Gas and Electric Company (PG&E) continues to offer support in numerous ways for customers navigating the unprecedented pandemic and reminds our customers that we’re here to help.
“We immediately took action earlier this year to provide support for customers financially impacted by the pandemic and all of those protections remain in place as we move into 2021. We are also reminding customers about the various resources and programs we have available to help them lower their energy costs,” said Laurie Giammona, PG&E’s Chief Customer Officer and a Senior Vice President.
Actions to Protect Customers
PG&E intends on maintaining the following customer protections through April 16, 2021:
PG&E helped almost 200,000 customers enroll in the CARE program this year providing income-qualified customers with a monthly discount. At the end of October, more than 1.57 million PG&E customers were enrolled in CARE, compared to the 1.39 million enrolled at the end of February prior to the shelter-at- home mandates.
More Energy Saving Resources and Financial Assistance Programs
To take advantage of additional programs, tools and savings opportunities, PG&E recommends customers become more familiar with the following:
Active COVID-19 Protocols
As always, the safety of our customers and employees is PG&E’s most important responsibility. As our field crews perform critical safety and maintenance work as well as follow COVID-19 protocols including wearing face-coverings and respecting social distancing guidelines, we ask our customers to do the same. Your actions can keep our workforce healthy and safe as we continue to maintain and safely operate gas and electric services for our customers.
For more information on PG&E’s response to the virus visit pge.com/covid19/.
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 24,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
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WALTHAM, Mass.--(BUSINESS WIRE)--#EV--Opinion Dynamics is pleased to introduce David Almeida as Director of Transportation Electrification. David brings an extensive background in the energy industry with experience working at the international, national, state, and municipal level. Over the past decade, David has honed his focus to specialize in the evaluation, development, implementation, and adoption of electric vehicles working in the utility, public and non-profit sectors. His expertise will help guide Opinion Dynamics business development and research efforts in the Transportation Electrification sector as well as support the emerging areas of rates and pricing and building decarbonization.
"David brings a wealth of experience increasing transportation electrification for light, medium, and heavy-duty sectors through innovation rate design, vehicle grid integration, and charging infrastructure deployment," said Opinion Dynamics Vice President, Olivia Patterson. "I look forward to collaborating with David as he serves as a key subject matter expert, as well as supports the strategic development of transportation electrification efforts for Opinion Dynamics."
"I am honored to join the Opinion Dynamics team which has been a thought leader in the energy industry for years," said Opinion Dynamics Director of Transportation Electrification, David Almeida. "I am excited to leverage my first-hand experience developing and implementing electric vehicle infrastructure, rates and incentive programs along with the skilled evaluation and research experts at Opinion Dynamics to accelerate the transition from petroleum-based fuels to electricity."
About Opinion Dynamics—Opinion Dynamics (www.opiniondynamics.com) works to advance knowledge to address emerging energy and social issues through sound and insightful research. It is the largest independently owned company that focuses on energy efficiency, demand response and renewables research. It is headquartered in Massachusetts with key offices in Northern and Southern California, Portland Oregon, as well as satellite offices throughout the country.
Opinion Dynamics
Media Contact:
Keri Bailey, Communications Manager
PH: 617-492-1400 x4645
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EWING, N.J.--(BUSINESS WIRE)--$OLED #CSR--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, announced today that the Company was named to Newsweek’s list of America's Most Responsible Companies 2021. Universal Display ranked #49 on the list, which recognizes the top 400 most responsible companies in the United States across fourteen different industry subcategories.
“We are honored to be ranked among the country’s most responsible companies,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “This recognition is a testament to our corporate values and commitment across the Company to being a good corporate steward. We are continuously advancing our efforts around sustainability through innovation and improvement, fostering a culture of inclusivity and collaboration, and supporting local community programs and global educational initiatives. As a leader in the OLED market, we will endeavor to continue to have a positive impact on our employees, customers, and the communities around us.”
Newsweek partnered with Statista to recognize the top 400 most responsible companies in the United States. America’s Most Responsible Companies were selected based on publicly available key performance indicators derived from CSR Reports, Sustainability Reports, and Corporate Citizenship Reports as well as an independent survey of U.S. residents. The analysis was carried out in a 4-phase process, starting with a pool of over 2,000 companies that were screened by different criteria. All the companies that passed the pre-screening (carried out in June and July 2020) have been analyzed in detail. For more details on the methodology, please visit: https://d.newsweek.com/en/file/460902/americas-most-responsible-companies-2021-methodology-v2.pdf.
For more information about Universal Display Corporation’s corporate social responsibility commitment, please visit https://ir.oled.com/shareholders/Corporate-Responsibility/default.aspx.
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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Universal Display Contact:
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Despite a drop in marine oil spills worldwide due to improved safety measures, the Clear Seas Centre for Responsible Marine Shipping’s (Clear Seas) latest public opinion survey shows that spills in Canadian waters from tankers and ship fuel tops the concerns of Canadians. Catastrophic events such as the recent oil spill off the coast of Mauritius also raise questions about Canada’s ability to clean up oil spills and how to protect the marine environment and coastal communities.
To answer these questions, a new webpage explaining what happens when oil spills from a ship in Canadian waters has been released by Clear Seas. This first-of-its-kind webpage provides a comprehensive inventory of the resources in place to respond to a marine oil spill. It also breaks down the response sequence and the organizations that are involved in and responsible for containing and cleaning up a spill.
“First and foremost, while oil spills can and do happen in Canada, they are extremely rare. And fortunately, Canada has an extensive and proactive system in place that will help the clean-up and minimize damage from a spill,” says Paul Blomerus, Executive Director of Clear Seas. The spills that do happen in Canada are mostly small (67% of ship-source spills between 2003-2012 were under 1,000 litres), originating from fishing boats and pleasure craft or classed as mystery spills.
Blomerus says that given the concerns Canadians have around shipping oil and gas by ship expressed in the latest Clear Seas survey, the page will be a timely addition to the public policy discussion around oil spill response and setting response standards.
You can visit the page and learn about Canada’s response efforts here.
ABOUT CLEAR SEAS
Clear Seas is a not-for-profit independent research centre that provides impartial information on marine shipping in Canada to policy makers and the public. The organization’s research agenda is defined internally in response to current issues, reviewed by a research advisory committee, and approved by a board of directors. Reports and findings are available at clearseas.org
Media:
Edward Downing
Director of Communications
Tel.: (604) 408-1648 ext. 106 or cell (604) 817-3058
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HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced that, in connection with the anticipated acquisition of Concho Resources Inc. (“Concho”) (NYSE: CXO) by ConocoPhillips, ConocoPhillips has commenced offers to eligible holders to exchange (each an “Exchange Offer” and collectively, the “Exchange Offers”) any and all outstanding notes issued by Concho as set forth in the table below (the “Existing Concho Notes”) for (1) up to $3,900,000,000 aggregate principal amount of new notes issued by ConocoPhillips and fully and unconditionally guaranteed by ConocoPhillips Company (the “New ConocoPhillips Notes”) and (2) cash.
The following table sets forth the Exchange Consideration and Total Exchange Consideration for each series of Existing Concho Notes:
Title of Series/ CUSIP Number of Existing Concho Notes |
Maturity Date |
Aggregate Principal Amount Outstanding |
Exchange Consideration(1) |
Total Exchange Consideration(2) |
3.750% Senior Notes due 2027 / 20605PAH4 |
October 1, 2027 |
$1,000,000,000 |
$970 principal amount of New ConocoPhillips 3.750% Notes due 2027 |
$1,000 principal amount of New ConocoPhillips 3.750% Notes due 2027 and $1.00 in cash |
4.300% Senior Notes due 2028 / 20605PAK7 |
August 15, 2028 |
$1,000,000,000 |
$970 principal amount of New ConocoPhillips 4.300% Notes due 2028 |
$1,000 principal amount of New ConocoPhillips 4.300% Notes due 2028 and $1.00 in cash |
2.400% Senior Notes due 2031 / 20605PAM3 |
February 15, 2031 |
$500,000,000 |
$970 principal amount of New ConocoPhillips 2.400% Notes due 2031 |
$1,000 principal amount of New ConocoPhillips 2.400% Notes due 2031 and $1.00 in cash |
4.875% Senior Notes due 2047 / 20605PAJ0 |
October 1, 2047 |
$800,000,000 |
$970 principal amount of New ConocoPhillips 4.875% Notes due 2047 |
$1,000 principal amount of New ConocoPhillips 4.875% Notes due 2047 and $1.00 in cash |
4.850% Senior Notes due 2048 / 20605PAL5 |
August 15, 2048 |
$600,000,000 |
$970 principal amount of New ConocoPhillips 4.850% Notes due 2048 |
$1,000 principal amount of New ConocoPhillips 4.850% Notes due 2048 and $1.00 in cash |
(1) |
|
For each $1,000 principal amount of Existing Concho Notes validly tendered after the Early Tender Date (as defined herein) but at or before the Expiration Date, not validly withdrawn and accepted for exchange. |
(2) |
|
For each $1,000 principal amount of Existing Concho Notes validly tendered at or before the Early Tender Date (as defined herein), not validly withdrawn and accepted for exchange. |
In conjunction with the Exchange Offers, Concho is soliciting consents (each, a “Consent Solicitation” and, collectively, the “Consent Solicitations”) to adopt certain proposed amendments to each of the indentures governing the Existing Concho Notes to eliminate certain of the covenants, restrictive provisions, events of default and the requirement for certain Concho subsidiaries to make guarantees in the future from such indentures.
The Exchange Offers and Consent Solicitations are being made pursuant to the terms and subject to the conditions set forth in the offering memorandum and consent solicitation statement dated as of Dec. 7, 2020 (the “Offering Memorandum and Consent Solicitation Statement”).
Each Exchange Offer and Consent Solicitation is conditioned upon the completion of the other Exchange Offers and Consent Solicitations, although ConocoPhillips may waive such condition at any time with respect to an Exchange Offer. Any waiver of a condition by ConocoPhillips with respect to an Exchange Offer will automatically waive such condition with respect to the corresponding Consent Solicitation.
In addition, the Exchange Offers and Consent Solicitations are subject to the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of Oct. 18, 2020 (as it may be amended from time to time, the “Merger Agreement”), among ConocoPhillips, Falcon Merger Sub Corp., a wholly owned subsidiary of ConocoPhillips (“Merger Sub”) and Concho, pursuant to which Merger Sub will merge with and into Concho (the “Merger”) with Concho surviving the Merger as a wholly owned subsidiary of ConocoPhillips.
ConocoPhillips, in its sole discretion, may modify or terminate the Exchange Offers and may extend the Early Tender Date (as defined herein), the Expiration Date (as defined herein) and/or the settlement date with respect to the Exchange Offers, subject to applicable law. Any such modification, termination or extension by ConocoPhillips will automatically modify, terminate or extend the corresponding Consent Solicitation, as applicable.
Holders who validly tender their Existing Concho Notes at or prior to 5:00 p.m., New York City time, on Dec. 18, 2020, unless extended (the “Early Tender Date”), will be eligible to receive, on the settlement date, the applicable Total Exchange Consideration as set forth in the table above for all such Existing Concho Notes that are accepted. Holders who validly tender their Existing Concho Notes after the Early Tender Date but no later than 5:00 p.m., New York City time, on Jan. 15, 2021, unless extended (the “Expiration Date”), will be eligible to receive, on the settlement date, the applicable Exchange Consideration as set forth in the table above, for all such Existing Concho Notes that are accepted. The settlement date will be promptly after the Expiration Date and is expected to be within two business days after the Expiration Date.
Documents relating to the Exchange Offers and Consent Solicitations will be distributed only to eligible holders of Existing Concho Notes who certify that they are either (a) “Qualified Institutional Buyers” as that term is defined in Rule 144A under the Securities Act of 1933 (the “Securities Act”), or (b) persons that are outside the “United States” and that (i) are not “U.S. persons,” as those terms are defined in Rule 902 under the Securities Act, (ii) in the case of persons located in the European Economic Area or the United Kingdom, are not “Retail Investors” (as defined in the Offering Memorandum and Consent Solicitation Statement), (iii) in the case of persons located in the United Kingdom, are “Relevant Persons” (as defined in the Offering Memorandum and Consent Solicitation Statement) and (iv) are not located in Canada. The complete terms and conditions of the Exchange Offers and Consent Solicitations are described in the Offering Memorandum and Consent Solicitation Statement, a copy of which may be obtained by contacting Global Bondholder Services Corporation, the exchange agent and information agent in connection with the Exchange Offers and Consent Solicitations, at (866) 470-3800 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or This email address is being protected from spambots. You need JavaScript enabled to view it.. The eligibility form is available electronically at: https://gbsc-usa.com/eligibility/conocophillips.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Exchange Offers and Consent Solicitations are being made solely pursuant to the Offering Memorandum and Consent Solicitation Statement and only to such persons and in such jurisdictions as is permitted under applicable law.
The New ConocoPhillips Notes have not been and will not be registered under the Securities Act or any state securities laws. Therefore, the New ConocoPhillips Notes 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.
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About ConocoPhillips
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,800 employees at Sept. 30, 2020. Production excluding Libya averaged 1,108 MBOED for the nine months ended Sept. 30, 2020, and proved reserves were 5.3 BBOE as of Dec. 31, 2019. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
All statements other than historical facts may be forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations and business strategies, statements regarding the Merger, including the anticipated benefits of the Merger, the anticipated impact of the Merger on ConocoPhillips’ business and future financial and operating results, the expected amount and timing of synergies from the Merger, and the anticipated closing date for the Merger and other aspects of operations or operating results. All statements, other than statements of historical fact, that address activities, events or developments that ConocoPhillips or Concho expects, believes or anticipates will or may occur in the future are forward-looking statements. Words and phrases such as “anticipate,” “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, ConocoPhillips or Concho expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond ConocoPhillips’ and Concho’s control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results or events to differ materially from those included in this press release. These include the ability to successfully integrate Concho’s businesses and technologies; the risk that the expected benefits and synergies of the Merger may not be fully achieved in a timely manner, or at all; the risk that ConocoPhillips or Concho will be unable to retain and hire key personnel; the risk associated with ConocoPhillips’ and Concho’s ability to obtain the approvals of the respective stockholders required to consummate the Merger and the timing of the closing of the Merger, including the risk that the conditions to the Merger are not satisfied on a timely basis or at all or the failure of the Merger to close for any other reason or to close on the anticipated terms; unanticipated difficulties or expenditures relating to the Merger, the response of business partners and retention as a result of the announcement and pendency of the Merger; uncertainty as to the long-term value of ConocoPhillips common stock; the diversion of management time on Merger-related matters; the inability to realize anticipated cost savings and capital expenditure reductions; the inadequacy of storage capacity for ConocoPhillips and Concho products, and ensuing curtailments, whether voluntary or involuntary, required to mitigate this physical constraint; the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; fluctuations in crude oil, bitumen, natural gas, LNG and NGLs prices, including a prolonged decline in these prices relative to historical or future expected levels; the impact of significant declines in prices for crude oil, bitumen, natural gas, LNG and NGLs, which may result in recognition of impairment charges on ConocoPhillips’ or Concho’s long-lived assets, leaseholds and nonconsolidated equity investments; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks and the inherent uncertainties in predicting reserves and reservoir performance; reductions in reserves replacement rates, whether as a result of the significant declines in commodity prices or otherwise; unsuccessful exploratory drilling activities or the inability to obtain access to exploratory acreage; unexpected changes in costs or technical requirements for constructing, modifying or operating E&P facilities; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change or further regulating hydraulic fracturing, methane emissions, flaring or water disposal; lack of, or disruptions in, adequate and reliable transportation for ConocoPhillips’ or Concho’s sales volumes, including crude oil, bitumen, natural gas, LNG and NGLs; the inability to timely obtain or maintain permits, including those necessary for construction, drilling and/or development, or inability to make capital expenditures required to maintain compliance with any necessary permits or applicable laws or regulations; the failure to complete definitive agreements and feasibility studies for, and to complete construction of, announced and future E&P and LNG development in a timely manner (if at all) or on budget; potential disruption or interruption of ConocoPhillips’ or Concho’s operations due to accidents, extraordinary weather events, civil unrest, political events, war, terrorism, cyber attacks, and information technology failures, constraints or disruptions; changes in international monetary conditions and foreign currency exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs relating to ConocoPhillips’ or Concho’s sales volumes, including crude oil, bitumen, natural gas, LNG, NGLs and any materials or products (such as aluminum and steel) used in the operation of ConocoPhillips’ or Concho’s business; substantial investment in, and development and use of, competing or alternative energy sources, including as a result of existing or future environmental rules and regulations; liability for remedial actions, including removal and reclamation obligations, under existing and future environmental regulations and litigation; significant operational or investment changes imposed by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce GHG emissions; liability resulting from litigation, including litigation related to the Merger, or ConocoPhillips’ or Concho’s failure to comply with applicable laws and regulations; general domestic and international economic and political developments, including armed hostilities; expropriation of assets; changes in governmental policies relating to crude oil, bitumen, natural gas, LNG and NGLs pricing, regulation or taxation, and other political, economic or diplomatic developments; volatility in the commodity futures markets; changes in tax and other laws, regulations (including alternative energy mandates), or royalty rules applicable to ConocoPhillips’ or Concho’s business; competition and consolidation in the oil and gas E&P industry; any limitations on ConocoPhillips’ or Concho’s access to capital or increase in ConocoPhillips’ or Concho’s cost of capital, including as a result of illiquidity or uncertainty in domestic or international financial markets; ConocoPhillips’ or Concho’s inability to execute, or delays in the completion of, any asset dispositions or acquisitions ConocoPhillips or Concho elects to pursue; potential failure to obtain, or delays in obtaining, any necessary regulatory approvals for pending or future asset dispositions or acquisitions, or that such approvals may require modification to the terms of the transactions or the operation of ConocoPhillips’ or Concho’s remaining business; potential disruption of ConocoPhillips’ or Concho’s operations as a result of pending or future asset dispositions or acquisitions, including the diversion of management time and attention; the inability to deploy the net proceeds from any asset dispositions that are pending or that ConocoPhillips or Concho elects to undertake in the future in the manner and timeframe ConocoPhillips or Concho currently anticipates, if at all; the inability to liquidate the common stock issued to ConocoPhillips by Cenovus Energy as part of ConocoPhillips’ sale of certain assets in western Canada at prices ConocoPhillips deems acceptable, or at all; the operation and financing of ConocoPhillips’ or Concho’s joint ventures; and the ability of ConocoPhillips or Concho customers and other contractual counterparties to satisfy their obligations to ConocoPhillips or Concho, including ConocoPhillips’ ability to collect payments when due from the government of Venezuela or PDVSA.
Additional important risks, uncertainties and other factors are described in the Offering Memorandum and Consent Solicitation Statement, ConocoPhillips’ Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and ConocoPhillips’ Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020, June 30, 2020 and September 30, 2020, certain Current Reports on Form 8-K and other filings ConocoPhillips makes with the SEC and in Concho’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and Concho’s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020, June 30, 2020 and September 30, 2020, certain Current Reports on Form 8-K and other filings Concho makes with the SEC.
Except as required by law, neither ConocoPhillips nor Concho undertakes or assumes any obligation to update any forward-looking statements, whether as a result of new information or to reflect subsequent events or circumstances or otherwise. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
Additional Information about the Merger and Where to Find It
In connection with the Merger, ConocoPhillips filed with the SEC a registration statement on Form S-4 on November 18, 2020, that includes a preliminary joint proxy statement of ConocoPhillips and Concho and that also constitutes a preliminary prospectus of ConocoPhillips. Each of ConocoPhillips and Concho also intends to file other relevant documents with the SEC regarding the Merger, including the definitive joint proxy statement/prospectus. The information in the preliminary joint proxy statement/prospectus is not complete and may be changed. This document is not a substitute for the preliminary joint proxy statement/prospectus or registration statement or any other document that ConocoPhillips or Concho may file with the SEC. The definitive joint proxy statement/prospectus (if and when available) will be mailed to stockholders of ConocoPhillips and Concho. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PRELIMINARY JOINT PROXY STATEMENT/PROSPECTUS, THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS IF AND WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. Investors and security holders are able to obtain free copies of the registration statement and preliminary joint proxy statement/prospectus and all other documents containing important information about ConocoPhillips, Concho and the Merger, once such documents are filed with the SEC, including the definitive joint proxy statement/prospectus if and when it becomes available, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by ConocoPhillips will be available free of charge on ConocoPhillips’ website at http://www.conocophillips.com or by contacting ConocoPhillips’ Investor Relations Department by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 281-293-5000. Copies of the documents filed with the SEC by Concho will be available free of charge on Concho’s investor relations website at https://ir.concho.com/investors/.
Participants in the Solicitation
ConocoPhillips, Concho and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Merger. Information about the directors and executive officers of ConocoPhillips, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in ConocoPhillips’ proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on March 30, 2020, and ConocoPhillips’ Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on February 18, 2020, as well as in Forms 8-K filed by ConocoPhillips with the SEC on May 20, 2020 and September 8, 2020, respectively. Information about the directors and executive officers of Concho, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Concho’s proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on March 16, 2020, and Concho’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on February 19, 2020. Investors may obtain additional information regarding the interests of those persons and other persons who may be deemed participants in the Merger by reading the preliminary joint proxy statement/prospectus, including any amendments thereto, as well as the definitive joint proxy statement/prospectus if and when it becomes available and other relevant materials to be filed with the SEC regarding the Merger when such materials become available. Investors should read the preliminary joint proxy statement/prospectus, and the definitive joint proxy statement/prospectus if and when it becomes available, carefully before making any voting or investment decisions. You may obtain free copies of these documents from ConocoPhillips or Concho using the sources indicated above.
John C. Roper (media)
281-293-1451
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Investor Relations
281-293-5000
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BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE: EAF) (GrafTech or the Company) today announced that its wholly owned subsidiary, GrafTech Finance Inc. (GrafTech Finance), priced its private offering of $500 million aggregate principal amount of 4.625% Senior Secured Notes due 2028 (the Notes). The Notes will be issued at a price of 100% of their principal amount. The offering is expected to close on December 22, 2020, subject to customary closing conditions.
GraftTech Finance intends to use the net proceeds of the Notes offering to repay a portion of the secured term loans outstanding under its existing credit agreement (the Credit Agreement) and to pay all related fees and expenses.
It is expected that the Notes will be guaranteed on a senior secured basis by GrafTech and all of its existing and future direct and indirect U.S. subsidiaries that guarantee, or borrow under, the credit facilities under the Credit Agreement. It is also expected that the Notes will be secured on a pari passu basis by the collateral securing the term loans under the Credit Agreement.
The Notes and related guarantees were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the Securities Act), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. The Notes and the related guarantees have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration under the Securities Act and applicable state securities and other securities laws.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities mentioned in this press release in any state or foreign 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 foreign jurisdiction.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.
Special note regarding Forward-Looking Statements
This press release and related discussions may contain forward-looking statements that reflect our current views with respect to, among other things, future events and financial performance. You can identify these forward‑looking statements by the use of forward‑looking words such as “will,” “may,” “plan,” “estimate,” “project,” “believe,” “anticipate,” “expect,” “foresee”, “intend,” “should,” “would,” “could,” “target,” “goal,” “continue to,” “positioned to,” “are confident”, or the negative versions of those words or other comparable words. Any forward‑looking statements contained in this press release are based upon our historical performance and on our current plans, estimates and expectations considering information currently available to us. The inclusion of this forward‑looking information should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Our expectations and targets are not predictions of actual performance and historically our performance has deviated, often significantly, from our expectations and targets. These forward‑looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to: the ultimate impact that the COVID-19 pandemic has on our business, results of operations, financial condition and cash flows; the cyclical nature of our business and the selling prices of our products may lead to periods of reduced profitability and net losses in the future; the possibility that we may be unable to implement our business strategies, including our ability to secure and maintain longer-term customer contracts, in an effective manner; the risks and uncertainties associated with litigation, arbitration, and like disputes, including the recently filed stockholder litigation and disputes related to contractual commitments; the possibility that global graphite electrode overcapacity may adversely affect graphite electrode prices; pricing for graphite electrodes has historically been cyclical and the price of graphite electrodes may continue to decline in the future; the sensitivity of our business and operating results to economic conditions and the possibility others may not be able to fulfill their obligations to us in a timely fashion or at all; our dependence on the global steel industry generally and the electric arc furnace steel industry in particular; the competitiveness of the graphite electrode industry; our dependence on the supply of petroleum needle coke; our dependence on supplies of raw materials (in addition to petroleum needle coke) and energy; the possibility that our manufacturing operations are subject to hazards; changes in, or more stringent enforcement of, health, safety and environmental regulations applicable to our manufacturing operations and facilities; the legal, compliance, economic, social and political risks associated with our substantial operations in multiple countries; the possibility that fluctuation of foreign currency exchange rates could materially harm our financial results; the possibility that our results of operations could deteriorate if our manufacturing operations were substantially disrupted for an extended period, including as a result of equipment failure, climate change, regulatory issues, natural disasters, public health crises, such as the COVID-19 pandemic, political crises or other catastrophic events; our dependence on third parties for certain construction, maintenance, engineering, transportation, warehousing and logistics services; the possibility that we are unable to recruit or retain key management and plant operating personnel or successfully negotiate with the representatives of our employees, including labor unions; the possibility that we may divest or acquire businesses, which could require significant management attention or disrupt our business; the sensitivity of goodwill on our balance sheet to changes in the market; the possibility that we are subject to information technology systems failures, cybersecurity attacks, network disruptions and breaches of data security; our dependence on protecting our intellectual property; the possibility that third parties may claim that our products or processes infringe their intellectual property rights; the possibility that significant changes in our jurisdictional earnings mix or in the tax laws of those jurisdictions could adversely affect our business; the possibility that our indebtedness could limit our financial and operating activities or that our cash flows may not be sufficient to service our indebtedness; the possibility that restrictive covenants in our financing agreements could restrict or limit our operations; the fact that borrowings under certain of our existing financing agreements subjects us to interest rate risk; the possibility of a lowering or withdrawal of the ratings assigned to our debt; the possibility that disruptions in the capital and credit markets could adversely affect our results of operations, cash flows and financial condition, or those of our customers and suppliers; the possibility that highly concentrated ownership of our common stock may prevent minority stockholders from influencing significant corporate decisions; the possibility that we may not pay cash dividends on our common stock in the future; the fact that certain of our stockholders have the right to engage or invest in the same or similar businesses as us; the possibility that the market price of our common stock could be negatively affected by sales of substantial amounts of our common stock in the public markets, including by Brookfield Asset Management Inc. and its affiliates; the fact that certain provisions of our Amended and Restated Certificate of Incorporation and our Amended and Restated By-Laws could hinder, delay or prevent a change of control; the fact that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders; our status as a "controlled company" within the meaning of the New York Stock Exchange corporate governance standards, which allows us to qualify for exemptions from certain corporate governance requirements; and GrafTech Finance’s ability to complete the Notes offering on terms that are commercially attractive to it or at all.
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements, including the Risk Factors sections included in our most recent Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020, June 30, 2020 and September 30, 2020, and other filings with the SEC. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. We do not undertake any obligation to publicly update or review any forward‑looking statement, except as required by law, whether as a result of new information, future developments or otherwise.
Wendy Watson
216-676-2000
Proceeds to Be Used to Improve Debt Metrics and Self-funding of Capital Program
SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE:NS) announced today that it has closed on the sale of its terminals in Texas City, Texas, to BWC Terminals for $106 million. The companies first announced this sale on November 2, 2020.
“While it was a difficult decision, this divestiture allows us to deploy the proceeds to further improve our debt metrics and self-fund a larger proportion of our capital program,” said Brad Barron, president and CEO of NuStar.
“And while the Texas City terminals are great assets with outstanding operations and employees, the location and unique configuration of these terminals were no longer synergistic with NuStar’s strategies for our other Gulf Coast assets,” Barron added. “For this reason, we determined that the best path forward for the continued success of these facilities and NuStar was to allow them to be acquired by an entity that can take advantage of the terminals’ niche petrochemical and petroleum capabilities. We are pleased that BWC Terminals has just such a business model.
"And the Texas City employees are now a part of a company with a business plan that is better aligned to take advantage of the terminals’ strengths. This should create more growth opportunities for the operations and provide employees with more resources to ensure their continued growth and success as well.”
“We are excited to finalize the acquisition of the Texas City NuStar Terminal,” said Michael (“Mike”) Suder, CEO of BWC Terminals. “This terminal complements our network of high-quality terminal storage of hydrocarbons, chemicals, renewables, and agricultural products across North America. The addition provides increased growth opportunities in the Gulf Coast Region to optimize and further develop our operational capabilities in support of the supply chain needs of our customers.”
Barclays served as exclusive financial adviser to NuStar on the transaction.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding future events and expectations, including the expected use of proceeds and the other anticipated benefits from the sale of NuStar’s Texas City business. All forward-looking statements are based on NuStar’s beliefs as well as assumptions made by and information currently available to NuStar. These statements reflect NuStar’s current views with respect to future events and expectations and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in NuStar Energy L.P.’s 2019 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Actual results may differ materially from those described in the forward-looking statements. Except as required by law, NuStar does not intend, or undertake any obligation, to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
About NuStar Energy L.P.
NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 73 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. The partnership’s combined system has approximately 72 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico. For more information, visit NuStar Energy L.P.'s website at www.nustarenergy.com.
About BWC Terminals
Headquartered in Houston, Texas, BWC Terminals is a premier provider of bulk liquid storage and logistics services to refiners, manufacturers and distributors of bulk liquids in North America. The Company consists of 18 sites with approximately thirteen million barrels of storage capacity. The BWC Terminals facilities are equipped to store a wide range of petroleum, chemical, renewables, and agricultural products. Additional information about BWC Terminals is available at www.bwcterminals.com.
NuStar Energy, L.P., San Antonio
Investors, Tim Delagarza, Manager, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314
website: http://www.nustarenergy.com
PPAs Position McDonald’s as Top Corporate Purchaser from C&I Market Leader Apex
CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Apex Clean Energy today announced two power purchase agreements (PPA) executed with McDonald’s (NYSE: MCD) totaling 326 MW of wind energy. McDonald’s will purchase 200 MW from Caddo Wind, located in Caddo County, Oklahoma, and 126 MW from Lincoln Land Wind, located in Morgan County, Illinois.
The newly announced PPAs build on the restaurant company’s previous purchase of 220 MW from Apex-developed Aviator Wind West, located in Coke County, Texas. Aviator Wind, owned by Consumers Energy, Kansai Electric, and Ares Management Corporation’s Infrastructure and Power, commenced operations in September 2020.
Combined, the 546 MW of total clean power purchases position McDonald’s as Apex’s largest single offtake entity and corporate buyer.
“Apex is thrilled to be a long-term partner of McDonald’s in its efforts to leverage its scale to create a healthier planet for generations to come,” said Mark Goodwin, president and CEO of Apex Clean Energy. “These agreements signify McDonald’s rising leadership in clean energy investment and its dedication to fostering resilient and sustainable communities. Across America, hundreds of rural towns and counties are being transformed through jobs and economic benefits delivered by renewable energy projects, and they are poised to rebound from recent economic insecurity stronger than before.”
“As one of the world’s largest restaurant companies, McDonald’s is uniquely positioned to catalyze action around climate change,” said Emma Cox, North American Sustainability at McDonald’s. “Our renewable energy projects with Apex will directly and immediately touch the lives of those living within these local communities and will also play a key role in how we feed and foster communities across the globe.”
The 303 MW Caddo Wind project was developed by Apex and sold to ALLETE Clean Energy in March 2020 (NYSE: ALE). Caddo Wind represents the second transaction between the two companies, following the 2019 sale of the 303 MW Diamond Spring Wind, which is also located in Oklahoma and came online earlier this fall. Across both projects, Apex and ALLETE Clean Energy have delivered PPAs totaling more than 600 MW with six different corporate offtakers. Together, Apex and ALLETE Clean Energy negotiated the Caddo PPA and are working to complete development and construction of the project, which is expected to be operational in late 2021.
The 300 MW Lincoln Land Wind project is currently under development by Apex and is expected to begin commercial operations in late 2021. The project, including another corporate PPA announced earlier in 2020, is fully contracted.
In 2019, Apex led the industry in power transactions involving corporations, signing nearly 2 GW of renewable energy deals. Apex recently released “State of the Corporate Clean Energy Market: Perspectives and Best Practices,” a white paper offering corporate clean energy buyers a detailed look at solutions available to fit diverse needs and priorities.
About Apex Clean Energy
Apex Clean Energy develops, constructs, and operates utility-scale wind and solar power facilities across North America. Our mission-driven team of more than 200 renewable energy experts uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information on how Apex is leading the transition to a clean energy future, visit apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.
Apex Clean Energy
Cat Strumlauf
Director | Corporate Communications
(434) 227-4196
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VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), an innovator and manufacturer of drilling tool technologies, today announced that it has completed the sale-leaseback agreement for its facilities in Vernal, Utah, netting the Company $1.6 million of additional cash.
Under the terms of the transaction, which were previously announced on November 12, 2020, SDP sold its facilities for $4.5 million and simultaneously entered into a 15-year lease. After fees, the Company received approximately $4.2 million in net proceeds of which $2.6 million was used to repay its outstanding mortgages. Lease terms are for monthly payments that are $17 thousand less than current mortgage debt service.
About Superior Drilling Products, Inc.
Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® well bore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.
Additional information about the Company can be found at: www.sdpi.com.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the continued impact of COVID-19 on the business, the Company’s strategy, future operations, success at developing future tools, the Company’s effectiveness at executing its business strategy and plans, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management, and ability to outperform are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
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DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), announced today a renewable energy sale agreement with McDonald’s Corp. (NYSE: MCD) for 200 megawatts from the Caddo wind site ALLETE Clean Energy is currently constructing in Oklahoma.
The 300-megawatt Caddo site, with its three renewable energy sale agreements with investment-grade Fortune 500 customers, will double ALLETE Clean Energy’s capacity to serve the accelerating corporate demand for clean energy. The project is in Caddo County in southern Oklahoma.
“We’re honored to help McDonald’s advance its climate action goals while developing a project that will bring sizable economic benefits to rural Oklahoma,” said ALLETE Clean Energy President Allan S. Rudeck Jr. “As corporations increasingly look to reduce carbon emissions through wind energy purchases, they also help build and strengthen local economies and diversify the nation’s power supply. Stable state and federal energy policy and local landowner and community support are foundational as we continue to deliver clean energy solutions to help customers achieve their sustainability goals.”
The project has the support of the local communities, where benefits include more than $50 million in tax revenue, $54 million in payments to landowners, and the creation of about 200 jobs during construction and 12 to 15 long-term operations jobs.
The Caddo agreement is part of a plan by McDonald’s to use its large scale to help address climate change for current and future generations. The company, in collaboration with franchisees and suppliers, plans to reduce greenhouse gas emissions related to McDonald’s restaurants and offices by 36 percent by 2030 from a 2015 base year.
“The Caddo project is an important addition to McDonald’s growing portfolio of renewable energy investments as part of our commitment to climate action,” said Emma Gillespie Cox, North American Sustainability, McDonald’s. “ALLETE Clean Energy is a valued partner whose wind energy expertise helps us expand our impact on the environment, while also ensuring the access to and economic benefits of clean energy production for communities across the United States.”
Caddo’s approximately 110 turbines will produce enough energy to power the equivalent of about 110,000 homes, and increases ALLETE Clean Energy’s total operating, under construction and build-transfer wind energy projects to more than 1,450 megawatts of nameplate capacity. The company’s recent growth has come through serving new commercial and industrial customers through the Diamond Spring and Caddo projects in Oklahoma. ALLETE Clean Energy purchased both sites from Apex Clean Energy and, as at Diamond Spring, the two companies will work together to finalize development and construction of Caddo.
“The Caddo project is a bright example of ALLETE’s strategy of sustainability in action,” said ALLETE President and Chief Executive Officer Bethany Owen. “Corporate commitment to clean energy is driving a substantial percentage of growth in the renewable energy sector, and ALLETE Clean Energy is increasingly seen as a proven, trusted partner in bringing more wind energy online.”
The Caddo site is expected to be operational by the end of 2021 and qualify for the safe harbor provision of federal renewable energy production tax credits. ALLETE Clean Energy continues to own an inventory of safe harbor turbines and is exploring additional opportunities to put more of them to use to serve customers.
ALLETE Clean Energy acquires, develops and operates clean and renewable energy projects. ALLETE Clean Energy owns, operates, has in advanced construction and has delivered build-transfer projects totaling more than 1,450 megawatts of nameplate wind capacity across seven states.
ALLETE Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, North Dakota; and has an 8 percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP
The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.
Amy Rutledge
Manager - Corporate Communications
218-723-7400
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AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression”) today announced that its senior management will participate in the 2020 Wells Fargo Virtual Midstream and Utility Symposium. Senior management expects to participate in a series of virtual meetings with members of the investment community on December 9, and presentation materials used during these meetings will be posted to USA Compression’s website prior to the investor meetings. Please visit the Investor Relations section of the website at usacompression.com under “Presentations.”
About USA Compression Partners, LP
USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.
USA Compression Partners, LP
Matthew Liuzzi, CFO
(512) 369-1624
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LONDON--(BUSINESS WIRE)--#GlobalOffshoreSupplyVesselMarket--The global offshore supply vessel market will grow by USD 4.77 billion, progressing at a CAGR of over 4% during the forecast period. According to the research report from Technavio, the market will witness negative growth in the short term due to the spread of the COVID-19 pandemic. The shutdown of various businesses due to the lockdown forced many companies to slow or halt physical operations, thereby impacting offshore activities. However, the market growth is expected to gain traction as many downstream operations are upgrading their systems and pushing toward more flexible work. In addition, increased offshore activities in Asia will present new opportunities for vendors during the forecast period.
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"One of the primary growth drivers for this market is the increasing number of global offshore oil and gas drills”, says a senior analyst for the Energy industry at Technavio. Due to a steady rise in oil prices and future uncertainty over prices, more offshore blocks are being awarded by governments for E&P activities. This has led to an increase in oil and gas drilling activities, which has created the need for logistic support and supply of various drilling equipment and associated materials such as drilling rigs, drill pipes, mud tanks, and blowout preventers.
Offshore Supply Vessel Market Segment Highlights for 2020
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BOSTON--(BUSINESS WIRE)--#learning--IHRDC recently delivered two major virtual learning programs for the Nigerian National Petroleum Corporation (NNPC) – a two-week program for 400 Management Graduate Trainees and an eight-week program for 650 Technical Graduate Trainees.
The need was stated by Fatima Suraj Yakubu, NNPC’s General Manager Talent, “We have 1,050 recent graduates, isolated at home because of Covid.19, who need to develop strong backgrounds in job-related oil and gas industry topics. We asked IHRDC, with its broad learning resources and strong background in virtual learning, to join us in the challenge and, together, we satisfied every aspect of our needs and translated NNPC’s vision for Young Graduate Development to reality.”
All 1,050 attended the first two-week program together. It was devoted to the commercial and technical fundamentals of the oil and gas value chain, both upstream and downstream, and an NNPC-selected set of soft skills.
Blended forms of learning were used to maintain a high level of interest during the six-hour daily sessions. They included lectures and discussion sessions by experienced specialists, team-based assignments in the Sandland Petroleum Simulation and the development of a Petroleum Industry Board Game for Nigeria. All content was delivered through the IHRDC Learning Portal.
The IHRDC team of faculty and mentors presented the content along with NNPC HR and IT specialists who maintained flawless communications with all Trainees using Microsoft Teams collaboration platform for individual and the team sessions. The 105 teams were divided into five groups each with their own dedicated mentors to answer questions and support the teams as they analyzed and solved their Petroleum Project Simulation and Board Game assignments.
The participants were highly impressed with design and delivery of the program using statements like “Impactful and insightful journey”, “thrilling”, “superb”, “excellent”, and “essential” in the post-program survey. One of the hundreds of comments included “This training was an eye opener from the board games to the simulation to the lectures. Simply excellent!”
The initial two-week program was followed by a six-week, virtual program for the 650 NNPC Technical Graduate Trainees. It was designed around an extensive list of topics identified by NNPC devoted to in-depth technical fundamentals and applications along the oil and gas value chain.
The blended learning format for these sessions was designed to be engaging and incorporate individual and team activities and presentations. It included two lecture and discussion sessions per day, case studies, e-Learning, on-point readings, and, of greatest value, unique team-based assignments that IHRDC specialists developed for each topic and for which the teams prepared and delivered presentations.
Participant responses to this program were also very strong. The first response received and shown below was typical:
“This program is the perfect springboard for a successful career in the oil and gas industry. The lectures, team assignments and discussion were perfectly tailored to stimulate the creative thinking of participants. Quality of lectures as well as tutors is nothing short of outstanding.”
On the last day of the program, Dr. David Donohue, President of IHRDC, was heard to say “There are days when you simply want to shout as loud as you can for joy! That happened to me today. This program, in all its aspects, has been revolutionary in scope, format, delivery and effectiveness. It was innovative and engaging with so many people working together to learn as much as they could to prepare themselves for challenging careers ahead!”
About IHRDC:
International Human Resources Development Corporation (www.ihrdc.com) has been a global leader in training and competency management for the oil and gas industry for more than 50 years. It offers the best Instructional Programs, e-Learning and Knowledge Solutions, and Competency Management products and services available to the industry today. The company is headquartered in Boston, USA with offices in Houston, London, Amsterdam, Abu Dhabi, Kuala Lumpur, and Lagos.
Kathleen McDonnell, IHRDC This email address is being protected from spambots. You need JavaScript enabled to view it.
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