Business Wire News

HOUSTON--(BUSINESS WIRE)--Geospace Technologies (NASDAQ: GEOS) today announced that it will release third quarter 2021 financial results on Thursday, August 5, 2021 after the market closes. In conjunction with the release, Geospace has scheduled a conference call for Friday, August 6, 2021 at 10:00 a.m. Eastern Time (9:00 a.m. Central).


What:

Geospace Technologies Third Quarter 2021 Conference Call

When:

Friday, August 6, 2021 at 10:00 a.m. Eastern Time (9:00 a.m. Central)

How:

Live via phone – U.S. participants can dial toll free (877) 876-9176. International participants can dial (785) 424-1670. Please reference the Geospace Technologies conference ID: GEOSQ321 prior to the start of the conference call.

For those who cannot listen to the live call, a replay will be available for approximately 60 days and may be accessed through the Investor Relations tab of our website: www.geospace.com.

Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.


Contacts

Rick Wheeler
President & CEO
TEL: 713.986.4444
FAX: 713.986.4445

ELGIN, Ill.--(BUSINESS WIRE)--Heritage-Crystal Clean, Inc. (Nasdaq:HCCI) plans to release its financial results for the second quarter of 2021, which ended June 19, 2021, after the market close on Wednesday, July 28, 2021.


The company will host a conference call on Thursday, July 29, 2021 at 9:30 AM Central Time, during which management will give a presentation focusing on the Company's operations and financial results.

Interested parties can listen to the audio webcast available through our company website, http://crystal-clean.com/investor-relations/, and can participate on the call by dialing (833) 772-0398. After dialing the number, you will be required to provide the following passcode before being joined to the conference call: 6091366.

About Heritage-Crystal Clean, Inc.

Heritage-Crystal Clean, Inc. provides parts cleaning, used oil re-refining, and hazardous and non-hazardous waste services primarily to small and mid-sized customers in the vehicle maintenance sector as well as manufacturers and other industrial businesses. Our service programs include parts cleaning, containerized waste management, used oil collection, wastewater and vacuum, waste antifreeze collection and recycling, and field services. These services help our customers manage their used chemicals and liquid and solid wastes, while also helping to minimize their regulatory burdens. Our customers include businesses involved in vehicle maintenance operations, such as car dealerships, automotive repair shops, and trucking firms, as well as small-to-medium sized manufacturers, such as metal product fabricators and printers, and other industrial businesses. Through our used oil re-refining program, we recycle used oil into high quality lubricating base oil, and we are a supplier to firms that produce and market finished lubricants. Through our antifreeze program we recycle spent antifreeze and produce and market a full line of virgin-quality antifreeze products. Heritage-Crystal Clean, Inc. is headquartered in Elgin, Illinois.


Contacts

Heritage-Crystal Clean, Inc.
Mark DeVita, Chief Financial Officer (847) 836-5670
http://www.crystal-clean.com

HOUSTON--(BUSINESS WIRE)--National Tank Truck Carriers named LSP Transport, LLC (LSPT) the North American Safety Champion of the Sutherland division. NTTC’s annual award recognizes tank truck operations in North America with the best safety programs and records each year and represent the gold standard for safety in the tank truck industry. The NTTC is the only national organization that specifically focuses on the tank truck industry. The North American Safety Contest, which awards the Heil Trophy, recognizes North American tank truck operations which excel in nine different categories.


Joe Maple, LSPT HSE Manager, accepted the Heil Trophy stating: "these awards don't happen without a lot of work behind the scenes. We've got a great company…starting at the top. The most important to our success are our drivers –who buy into our culture, do the best they can to go home the same way they came to work…and take the extra time to do what needs to be done to make sure we do it safely. Without them, there's no way we could make this happen.”

Winners are determined by their safety records, safety and preventive maintenance programs, personnel safety programs and record, and contributions to tank truck industry and general highway safety causes. LSPT secured its trophy with a frequency of 0.344 accidents per million miles in the 5-7 million miles class of the Competitive Safety Contest, and also won a Grand Award in the Personnel Safety Contest.

LSP Transport, LLC (LSPT), established in 2015, is the in-house fleet of LiquidPower Speciality Products Inc. (LSPI)., dedicated to delivering product for LSPI. LSPI is the global leader in the science and application of pipeline drag reduction, specializing in Drag Reducing Agents (DRA) technology to maximize the flow potential of pipelines, improve operational flexibility and throughput capacity. As LSPI’s in-house transportation team, LSPT drivers are responsible for the safe delivery of LSPI’s products to customer sites.

About LSP Transport, LLC. (LSPT)

LSPT has more than 20 years of experience in the chemical transportation industry. The company became a wholly owned subsidiary of LiquidPower Specialty Products Inc. (LSPI) in 2015 and is now a private fleet dedicated to delivering LSPI product. (www.lspt.jobs)

LiquidPower Specialty Products Inc. (LSPI), a Berkshire Hathaway Company, is the global leader in the science and application of drag reduction, with over 40 years of experience. LSPI’s DRA offering is part of a full-service offering that encompasses industry-leading technology, quality manufacturing, technical support and consulting, reliable supply chain, and injection equipment and field service.

About National Tank Truck Carriers (NTTC)

NTTC is a trade association representing over 500 companies that specialize in transporting bulk or related services throughout North America. The tank truck industry generates roughly 5.1% of all truck freight revenue, but that represents 30% of all truck freight in terms of tonnage due to the heavy nature of the liquid bulk products handled. (www.tanktruck.org)


Contacts

Fernanda Soares
Marketing Communications Manager
281-948-4981 | This email address is being protected from spambots. You need JavaScript enabled to view it.

  • India’s leading renewable energy company will use the platform to manage its utility-scale solar, wind and hybrid energy projects more efficiently
  • Inclusive, data-driven platform approach will enable users to track the progress of multiple complex projects, quickly act on insights and ensure best-in-class delivery
  • ReNew Power can support its commitments to lead India’s transition, away from fossil fuels, and meet the country’s growing energy needs in a sustainable way

VELIZY-VILLACOUBLAY, France--(BUSINESS WIRE)--#3DEXPERIENCE--Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today announced that ReNew Power, India’s leading renewable energy company, has chosen the 3DEXPERIENCE platform to manage its solar, wind and hybrid engineering, procurement and construction projects. ReNew Power will be able to quickly act on insights and ensure best-in-class project delivery to support the use of cleaner and smarter energy in India.


ReNew Power will use the “Capital Facilities Information Excellence” industry solution experience based on the 3DEXPERIENCE platform for digital project management. In a collaborative virtual environment providing a single source of the latest project data, stakeholders can track, execute and manage the progress of multiple projects at the same time on a single platform. Using powerful analytics capabilities related to costs, schedule, quality, health and safety, stakeholders can proactively manage risks and opportunities, through this platform.

As India explores ways to meet the rising energy needs of more than one billion people through clean sources of energy while reducing its carbon emissions, ReNew Power is committed to lead the country’s transition away from fossil fuels and meet this demand sustainably.

“We were looking for a secure, scalable solution to manage the performance of projects and further our ambition to deliver sustainable solutions that can reduce India’s carbon footprint,” said Balram Mehta, COO, ReNew Power. “Dassault Systèmes’ 3DEXPERIENCE platform is expected to provide us with centralized project execution and monitoring data, personalized dashboards, progress graphs, timely insights and intuitive reports to improve our productivity.”

“Faced with global competition and a growing focus on sustainability, companies looking to innovate faster or diversify their portfolios into new business areas need a new approach to develop, plan, build, operate and decommission projects differently,” said Thomas Grand, Vice President, Energy & Materials Industry, Dassault Systèmes. “Dassault Systèmes supports its renewable energy customers in their sustainable development. The 3DEXPERIENCE platform offers an inclusive, data-driven approach that enables real-time collaboration, improves execution and accelerates innovation. Companies like ReNew Power can deliver complex projects with transparency, accuracy and timeliness.”

Social media:

Share this on Twitter: India’s leading renewable energy company @renew_power selects @Dassault3DS #3DEXPERIENCE to efficiently deliver cleaner, smarter energy

Connect with Dassault Systèmes on Twitter Facebook LinkedIn YouTube

For more information:

Dassault Systèmes’ industry solution experiences for the Energy & Materials industry: https://ifwe.3ds.com/energy-materials

Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

About Dassault Systèmes

Dassault Systèmes, the 3DEXPERIENCE Company, is a catalyst for human progress. We provide business and people with collaborative 3D virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers push the boundaries of innovation, learning and production. Dassault Systèmes brings value to more than 290,000 customers of all sizes, in all industries, in more than 140 countries. For more information, visit www.3ds.com

3DEXPERIENCE, the Compass icon, the 3DS logo, CATIA, BIOVIA, GEOVIA, SOLIDWORKS, 3DVIA, ENOVIA, NETVIBES, MEDIDATA, CENTRIC PLM, 3DEXCITE, SIMULIA, DELMIA, and IFWE are commercial trademarks or registered trademarks of Dassault Systèmes, a French “société européenne” (Versailles Commercial Register # B 322 306 440), or its subsidiaries in the United States and/or other countries.


Contacts

Corporate / France
Arnaud MALHERBE
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+33 (0)1 61 62 87 73

North America
Suzanne MORAN
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (781) 810 3774

EMEAR
Virginie BLINDENBERG
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+33 (0) 1 61 62 84 21

China
Grace MU
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+86 10 6536 2288

India
Santanu BHATTACHARYA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+91 9717972875

Japan
Yukiko SATO
This email address is being protected from spambots. You need JavaScript enabled to view it.
+81 3 4321 3841

Korea
Jeemin JEONG
This email address is being protected from spambots. You need JavaScript enabled to view it.
+82 2 3271 6653

AP South
Pallavi MISRA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+65 90221874

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE:AGR) posted its second quarter 2021 earnings release and presentation in the Investors section of the Company’s website. Interested parties can access using the following link: www.avangrid.com/wps/portal/avangrid/Investors.


In conjunction with the earnings release, AVANGRID will conduct a webcast conference call with financial analysts on Wednesday, July 21, 2021 beginning at 10:00 A.M. ET. AVANGRID’s Executive team will present an overview of the financial results followed by a question and answer session.

Interested parties, including analysts, investors and the media, may listen to a live audio-only webcast by accessing a link located in the Investors section of AVANGRID’s website at www.avangrid.com/wps/portal/avangrid/Investors.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.


Contacts

Analysts: Patricia Cosgel 203-499-2624
Media: Zsoka McDonald 203-997-6892

DUBLIN--(BUSINESS WIRE)--The "Shipbuilding & Ship Parts Market Research Report by Type (Container, Passenger, and Vessel), by End User (Defense and Logistics Companies) - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.


The Global Shipbuilding & Ship Parts Market size was estimated at USD 2,456.65 Million in 2020 and expected to reach USD 2,809.96 Million in 2021, at a Compound Annual Growth Rate (CAGR) 14.72% to reach USD 5,599.95 Million by 2026.

In this report, the years 2018 and 2019 are considered historical years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2026 are considered the forecast period.

Cumulative Impact of COVID-19:

COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. This ongoing research amplifies this research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward.

The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Shipbuilding & Ship Parts Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others.

Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Shipbuilding & Ship Parts Market, including

  • China Shipbuilding Industry Corporation
  • China State Shipbuilding Corporation
  • Daewoo Shipbuilding & Marine Engineering Co., Ltd..
  • Hanjin Heavy Industry Co. Ltd.
  • Hyundai Heavy Industries Co., Ltd..
  • Mitsubishi Heavy Industries Ltd.
  • Mitsubishi Heavy Industries, Ltd
  • Samsung Heavy Industries
  • Samsung Heavy Industries Co., Ltd..
  • STX Offshore & Shipbuilding
  • Sumitomo Heavy Industries, Ltd.
  • United Shipbuilding Corporation
  • Yangzijiang Shipbuilding Ltd.

Key Topics Covered:

1. Preface

2. Research Methodology

3. Executive Summary

3.1. Introduction

3.2. Market Outlook

3.3. Type Outlook

3.4. End User Outlook

3.5. Geography Outlook

3.6. Competitor Outlook

4. Market Overview

4.1. Introduction

4.2. Cumulative Impact of COVID-19

5. Market Insights

5.1. Market Dynamics

5.1.1. Drivers

5.1.1.1. Globalization of business

5.1.1.2. Increasing sea route trade activities among countries

5.1.1.3. Rising spending on renovation and repairing of ships

5.1.1.4. Financial assistance from the government

5.1.2. Restraints

5.1.2.1. Environmental concerns related to shipbuilding

5.1.3. Opportunities

5.1.3.1. Increasing naval budgets

5.1.3.2. Advanced technology and digital transformation for shipbuilding

5.1.4. Challenges

5.1.4.1. Economic fluctuations in market

5.2. Porters Five Forces Analysis

6. Shipbuilding & Ship Parts Market, by Type

6.1. Introduction

6.2. Container

6.3. Passenger

6.4. Vessel

7. Shipbuilding & Ship Parts Market, by End User

7.1. Introduction

7.2. Defense

7.3. Logistics Companies

8. Americas Shipbuilding & Ship Parts Market

9. Asia-Pacific Shipbuilding & Ship Parts Market

10. Europe, Middle East & Africa Shipbuilding & Ship Parts Market

11. Competitive Landscape

11.1. FPNV Positioning Matrix

11.1.1. Quadrants

11.1.2. Business Strategy

11.1.3. Product Satisfaction

11.2. Market Ranking Analysis

11.3. Market Share Analysis, By Key Player

11.4. Competitive Scenario

11.4.1. Merger & Acquisition

11.4.2. Agreement, Collaboration, & Partnership

11.4.3. New Product Launch & Enhancement

11.4.4. Investment & Funding

11.4.5. Award, Recognition, & Expansion

12. Company Usability Profiles

For more information about this report visit https://www.researchandmarkets.com/r/r1lxiw


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners (NYSE: PSXP) has changed the time of its conference call to discuss second-quarter earnings. The conference call webcast will now be held at 3 p.m. EDT on Tuesday, Aug. 3, 2021. At that time, the company’s executive management will discuss the partnership’s second-quarter 2021 financial results, which will be released earlier that day, and provide an update on strategic initiatives.


To access the webcast, go to the Events and Presentations section of the Phillips 66 Partners Investors site, https://unitholder.phillips66partners.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a transcript will be available at a later date.

About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.


Contacts

Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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The unique demand and complexities of city delivery has led to an increased focus on the development of smaller and nimbler vehicles


BOULDER, Colo.--(BUSINESS WIRE)--#AV--A new report from Guidehouse Insights analyzes the potential for low speed automated delivery vehicles (ADVs) and evaluates how the market for these services will likely evolve through 2030. The report also examines key drivers for future demand, challenges that the market will likely face, and leading players in the market.

The demand for urban delivery has seen strong growth that is expected to continue into the foreseeable future. Several factors have contributed to this, including overall economic growth, evolving consumer trends, continued growth of e-commerce, and the rising popularity of food and grocery deliveries. According to a new report from Guidehouse Insights, global deliveries by low speed ADVs are projected to grow from less than 7 million deliveries in 2021 to more than 51 billion by 2030, representing a compound annual growth rate (CAGR) of 170%.

“Low speed ADVs have attracted the interest of major online retailers such as Amazon and Alibaba as a unique solution to the increasing need for short, on-demand deliveries,” says Sagie Evbenata, senior research analyst with Guidehouse Insights. “Furthermore, as lightweight zero emissions vehicles, low speed ADVs can provide significant environmental benefits.”

With the increase in urbanization, the challenges faced by urban deliveries are numerous, including the high density of drop-offs required, heavy congestion, parking and unloading difficulties, narrow streets, restricted access, and stricter vehicle regulations. The unique demand and complexities of city delivery has led to an increased focus on the development of smaller and nimbler electric vehicles (EVs) and ADVs. These vehicles are ideal for efficiently traversing narrow and busy city streets and need to cover only small daily distances and carry relatively small payloads. Furthermore, they do not need to be capable of high speeds because they are primarily confined to city streets and sidewalks.

The report, Low Speed Automated Delivery Vehicles, analyzes the potential for low speed ADVs and evaluates how the market for these services will likely evolve. This report examines key drivers for future demand, challenges that the market will likely face, and leading players in the market. Global market forecasts through 2030 are included for the number of delivery trips completed by ADVs, distance traveled by the delivery vehicles, annual deployments of low speed ADVs, and revenue generated by these vehicles in delivery services. 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 and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, 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, Low Speed Automated Delivery Vehicles, 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.


Contacts

Lindsay Funicello-Paul
+1.781.270.8456
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HOUSTON--(BUSINESS WIRE)--VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the second quarterly payment period ended June 30, 2021.

Unitholders of record on July 30, 2021 will receive a distribution amounting to $2,720,000 or $0.16 per unit, payable August 13, 2021.

Volumes, average sales prices and net profits for the payment period were:

Sales volumes:

 

 

 

Oil (Bbl)

 

128,814

 

Natural gas (Mcf)

 

78,734

 

Total (BOE)

 

141,936

 

Average sales prices:

 

 

 

Oil (per Bbl)

 

$

59.62

 

Natural gas (per Mcf)

 

$

3.29

 

Gross proceeds:

 

 

 

 

Oil sales

 

$

7,679,568

 

Natural gas sales

 

 

258,788

 

Total gross proceeds

 

$

7,938,356

 

Costs:

 

 

 

Lease operating expenses

 

$

3,069,270

 

Production and property taxes

 

 

608,076

 

Development expenses

 

 

706,669

 

Total costs

 

$

4,384,015

 

Net proceeds

 

$

3,554,341

 

Percentage applicable to Trust’s Net Profits Interest

 

80%

 

Net profits interest

 

$

2,843,473

 

Increase in cash reserve held by VOC Brazos Energy Partners, L.P.

 

 

0

 

Total cash proceeds available for the Trust

 

$

2,843,473

 

Provision for estimated Trust expenses

 

 

123,473

 

Net cash proceeds available for distribution

 

$

2,720,000

 

This press release contains forward-looking statements. Although VOC Brazos Energy Partners, L.P. has advised the Trust that VOC Brazos Energy Partners, L.P. 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 June 30, 2021. 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, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 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.


Contacts

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
(713) 483-6020

Facility will produce low-cost fuel while dramatically limiting emissions

REYNOLDS, Ind.--(BUSINESS WIRE)--#RNG--OPAL Fuels LLC, the market leader in developing and marketing renewable natural gas (RNG) fuel, today announced an investment in Bio Town Biogas, one of the most environmentally-friendly RNG production facilities in the country. The centerpiece of the project will be a large-scale dairy digester that will produce about 1,000 MMBTUs of fuel per day. Critically, this fuel will be cheaper than diesel and have one of the lowest carbon intensity scores in the industry.


“This project makes it abundantly clear that RNG can save the planet while saving companies money,” said Jon Maurer, Co-CEO of OPAL Fuels LLC. “RNG is a true win-win, as it also supplies a valuable revenue stream for farmers. We are particularly proud to be working with several Indiana beef cattle and dairy farms to achieve the scale to make this project even more impactful. These are farms that have the foresight to understand how being a key RNG supplier would be valuable to their bottom line. The OPAL Fuels team is in the RNG business to lower emissions, lower fuel costs, and help farmers. This project is a major step towards us fulfilling our mission.”

The project will provide the equivalent of 28.5 million gallons of fuel per year with net zero emissions to OPAL Fuels fleet customers – enough fuel to allow roughly 2,400 heavy-duty trucks to achieve carbon neutral emissions in their operations. All told, this project will keep over 43,000 tons of CO2e emissions out of the atmosphere each year, while helping trucking companies save about $5.8 million per year in fuel costs compared to diesel.

The scale of this project empowers the RNG it produces to achieve an ultra-low carbon intensity score. The project achieves such scale by not only converting biogas to electricity from cattle manure at the project’s host site, but by also trucking in manure from local dairy farms to convert to RNG. OPAL Fuels then distributes the fuel through its network of over 140 service stations, which together operate as TruStar Energy.

Dairy farms interested in working with OPAL Fuels LLC should reach out to This email address is being protected from spambots. You need JavaScript enabled to view it..

About OPAL Fuels LLC

OPAL Fuels LLC, a Fortistar portfolio company, is an emerging leader in the production and distribution of renewable natural gas (RNG), a proven low carbon fuel with a decades-long track record of results that has the power to rapidly decarbonize the transportation industry. OPAL captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, low-cost alternative to diesel fuel. As a vertically integrated producer and distributor of RNG for heavy-duty truck fleets for over 20 years, OPAL delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL and how it is leading the effort to decarbonize North America's transportation industry, please visit www.opalfuels.com.


Contacts

Lily Thieneman
502-468-8801
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of July 2021. Unitholders of record on July 30, 2021 will receive distributions amounting to $0.003925566 per unit, payable on October 29, 2021. The Trust received $33,763, all of which came from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc. (“Operator”). No income was received in July 2021 from any other working interest owner. The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado.

As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices. Distributions to unitholders are also impacted by the amount of the Trust’s administrative expenses, among other factors, which may vary significantly from month to month. On February 28, 2020, BP Amoco Company (“BP”) completed the sale of all of its interest in the San Juan Basin—Colorado properties to Operator. Following Operator’s acquisition of BP’s interest in the San Juan Basin—Colorado properties, there was a transition period to transfer historical information, knowledge and processes from one owner to the other. Operator has informed the Trustee that the amount paid to the Trust, included in the July 2021 distribution calculation, is subject to further adjustment in future periods for certain expenses that Operator is entitled to deduct under the conveyance. Operator is expected to recover such expense amounts by withholding a portion or all of the net proceeds that would otherwise be payable to the Trust in future periods. Any reduction in income paid to the Trust for these properties may materially reduce or eliminate distributions to the Trust’s unitholders in future periods.

Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.

This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust’s Form 10-K for the year ended December 31, 2020 under “Part I, Item 1A. Risk Factors.” Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.


Contacts

Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx

TORONTO--(BUSINESS WIRE)--$LGO #VRFB--Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce that Largo Clean Energy Corp. (“LCE”) has entered into its first VCHARGE± vanadium redox flow battery (“VRFB”) system sales contract with Enel Green Power España (“EGPE”). Under the contract, LCE is obligated to deliver a 5 hour 6.1 MWh VCHARGE± system for a project in Spain with expected commissioning in Q4 2022, subject to receipt of notice to proceed from EGPE within the next 180 days.


Paulo Misk, President and Chief Executive Officer of Largo, stated: “We are excited to have been selected by Enel Green Power España as the preferred energy storage solution partner on this project. Integrating Largo’s leading high purity vanadium production with the disruptive capabilities of our VCHARGE± system, including superior performance, long life, optimal cost structure and proven durability, should position Largo as an emerging leader in the VRFB industry.” He continued: “The world is in need of clean and safe long-duration energy storage and we believe our VCHARGE± system can be a significant part of this solution going forward. We look forward to the successful deployment of this system.”

Ian Robertson, Chair of the Clean Energy Committee of the Board of Directors of Largo, added: “We are enthused that this sales contract with a world-class customer represents commercial validation of the LCE energy storage system and are confident that the technical and commercial competitiveness of the LCE proposition will continue to be proven through future sales.”

About Largo Resources

Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE± vanadium redox flow battery technology. The Company's common shares are listed on the Toronto Stock Exchange and on the Nasdaq Stock Market under the symbol "LGO".

For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.

For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.

Forward-looking Information:

This press release contains forward-looking information under Canadian securities legislation, ("forward-looking statements"). Forward‐looking information in this press release includes, but is not limited to, statements with respect to our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, the production, delivery and sale to Enel Green Power of a VCHARGE+ battery system, the design of that system, expected transaction value, future VCHARGE+ battery system sales, and the growth of the long-duration energy storage market. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the failure to satisfy conditions in the agreement with Enel, termination of the agreement, and those risks described in the annual information form of Largo and in its public documents filed on www.sedar.com and www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.

Trademarks are owned by Largo Resources Ltd.


Contacts

For further information, please contact:

Sales Enquiries:
Paul Vollant
VP of Commerical
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Tel: +1 571 491 7827 (Americas)
Tel: +353 1536 3094 (EMEA/APAC)

Investor Relations:
Alex Guthrie
Senior Manager, External Relations
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Tel: +1 416‐861‐9797

HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.325 per share, or $1.30 per share on an annualized basis. The dividend is payable on August 16, 2021 to stockholders of record as of August 2, 2021.

About NRG

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.

Safe Harbor

This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.


Contacts

Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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AKRON, Ohio--(BUSINESS WIRE)--$BW #decarbonization--Babcock & Wilcox ("B&W") (NYSE: BW), a leading innovator in technologies to combat climate change, is providing its BrightGen™ technology to customers seeking a powerful hydrogen combustion solution for utility and industrial applications where efficient, zero-carbon dioxide (CO2)-emissions energy generation is a goal. B&W's BrightGen hydrogen combustion solution is currently in operation at multiple refineries and industrial facilities around the world.

B&W’s highly reliable utility, industrial and FM package boilers can be manufactured or retrofitted with BrightGen technology to safely burn hydrogen for virtually any need, including power, heating and steam generation, and for industrial applications such as refineries and petrochemical facilities.

“Our BrightGen hydrogen combustion system is helping customers reduce their greenhouse gas footprints and produce clean energy today,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “There’s no time to waste in the battle against climate change, and B&W’s ClimateBright™ suite of decarbonization technologies can help win that battle and protect our environment for future generations.”

B&W’s ClimateBright™ suite of technologies can capture CO2 and includes the ability to produce hydrogen. These technologies have application for a wide range of industries including energy production, biomass energy, waste-to-energy, food manufacturing, steel, cement, oil and gas, pharmaceutical, petrochemical, carbon black, and pulp and paper.

B&W’s ClimateBright™ solutions include:

  • BrightLoop™ technology to produce hydrogen, steam or syngas from a variety of fuels or feedstocks while isolating CO2 for capture or other industrial purposes
  • SolveBright™ regenerable solvent technology for carbon capture processes
  • OxyBright™ combustion process ideal for CO2 isolation and sequestration applications
  • BrightGen™ hydrogen combustion technology

ClimateBright technologies work with a vast array of feedstock, including natural gas, biomass, petroleum coke, coal, municipal solid waste and syngas for both new and retrofit applications

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.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to B&W’s BrightGen technology and ClimateBright suite of technologies, as well as associated potential commercial opportunities. 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.


Contacts

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.

HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a second-quarter 2021 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable Aug. 13, 2021, to unitholders of record as of July 30, 2021.


About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.

TAX CONSIDERATIONS

This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100% of Phillips 66 Partners LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Phillips 66 Partners LP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not Phillips 66 Partners LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.


Contacts

Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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Tortoise Energy Infrastructure Corp. (NYSE: TYG)


Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)

Tortoise Energy Independence Fund, Inc. (NYSE: NDP)

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)

Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF)

LEAWOOD, KS--(BUSINESS WIRE)--TortoiseEcofin today announced the appointment of Courtney Gengler, CPA as Principal Financial Officer and Treasurer for its closed-end funds effective July 14, 2021. This change will allow Brad Adams, recently serving in this role, to focus entirely on his responsibilities as CEO for the closed-end funds and pass the primary responsibility for financial filings and the related books and records to Ms. Gengler.

About TortoiseEcofin

TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior living. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. For additional information, please visit www.TortoiseEcofin.com.

Tortoise Capital Advisors, L.L.C. (also dba TCA Advisors) (“TCA”) is the Adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., Tortoise Power and Energy Infrastructure Fund, Inc. and Tortoise Essential Assets Income Term Fund. Ecofin Advisors Limited is a sub-adviser to Ecofin Sustainable and Social Impact Term Fund.

For additional information on these funds, please visit cef.tortoiseecofin.com.

Safe harbor statement

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

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and TCA do not assume a duty to update this forward-looking statement.


Contacts

For more information contact Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it..

 

HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) plans to report Second Quarter 2021 financial results on Thursday, August 5, 2021. Management will present the results during a conference call and webcast at 9:00 a.m. Eastern.

A live webcast of the conference call, including presentation materials, can be accessed through NRG’s website at http://www.nrg.com and clicking on “Presentations & Webcasts” in the “Investors” section found at the top of the home page. The webcast will be archived on the site for those unable to listen in real time.

About NRG

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.


Contacts

Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE:ACM), the world’s trusted infrastructure consulting firm, today announced that it intends to release its third quarter fiscal 2021 financial results the after market close on Monday, August 9, 2021. The Company will host a conference call and webcast with analysts and investors on August 10, 2021 at noon Eastern Time, during which management will present the Company's third quarter fiscal 2021 financial results, and discuss trends across its business and markets.

The live webcast and replay of the event will be available online at https://investors.aecom.com. The site will also host the associated presentation slides containing additional financial and operating information on the day of the respective events.

The conference call can be accessed directly by dialing 833-231-8276 (U.S. or Canada) or 647-253-8791 (international) and entering passcode 5229668.

About AECOM

AECOM is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.


Contacts

Investor Contact:
Will Gabrielski
Senior Vice President, Finance, Treasurer
213.593.8208
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Media Contact:
Brendan Ranson-Walsh
Vice President, Global Communications & Corporate Responsibility
213.996.2367
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NEW YORK--(BUSINESS WIRE)--Falcon Minerals Corporation (“Falcon” or the “Company”) (NASDAQ: FLMN, FLMNW) today announced that the Company will host an earnings conference call for the second quarter 2021 on Thursday, August 5, 2021 at 9:00 am ET. Falcon intends to release its financial results for the second quarter 2021 following the market close on Wednesday, August 4, 2021.


Falcon management invites investors and interested parties to listen to the conference call to discuss second quarter 2021 results on Thursday, August 5, 2021 at 9:00 am ET. Participants for the conference call should dial (888) 567-1602 (International: (862) 298-0702). A replay of the Falcon earnings call will be available starting at 2:00 pm ET on August 5, 2021. Investors and interested parties can listen to the replay on www.falconminerals.com in the Events page of the Investor Relations section or call (888) 539-4649 (International: (754) 333-7735). At the system prompt, dial your replay code (155510#); playback will automatically begin.

About Falcon Minerals

Falcon Minerals Corporation (NASDAQ: FLMN, FLMNW) is a C-Corporation formed to own and acquire high growth oil-weighted minerals rights. Falcon owns mineral, royalty, and over-riding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt and Gonzales Counties in Texas. The Company also owns approximately 80,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio and West Virginia. For more information, visit our website at www.falconminerals.com.


Contacts

Falcon Minerals Contact:
Matthew B. Ockwood
Chief Financial Officer
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  • Net income of $0.26 per diluted share
  • Cash flow from operating activities of $409 million and free cash flow of $265 million

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today net income of $227 million, or $0.26 per diluted share, for the second quarter of 2021. This compares to net income for the first quarter of 2021 of $170 million, or $0.19 per diluted share. Halliburton's total revenue for the second quarter of 2021 was $3.7 billion, compared to revenue of $3.5 billion in the first quarter of 2021. Operating income was $434 million in the second quarter of 2021 compared to operating income of $370 million in the first quarter of 2021.


“Our second quarter performance demonstrates that our strategy is working well and Halliburton’s strategic priorities are driving value in this transition year. Total company revenue increased 7% sequentially, as both North America and international markets continued to improve, and operating income grew 17% with solid margin performance in both divisions,” commented Jeff Miller, Chairman, President and CEO.

“Halliburton’s Completion and Production division margin reached three-year highs, while our Drilling and Evaluation division margin outperformed expectations, setting both divisions up for robust margin growth this year.

“Our solid free cash flow generation further demonstrates the effectiveness of our strategy to strengthen the cash flow profile of our business.

“The positive activity momentum we see in North America and international markets today, combined with our expectations for future customer demand, gives us conviction for an unfolding multi-year upcycle.

“Halliburton’s value proposition, unique exposure to both international and North America markets, and differentiated technologies across an integrated services portfolio solidify our sustainable competitive advantage, and deliver strong free cash flow and industry-leading returns,” concluded Miller.

Operating Segments

Completion and Production

Completion and Production revenue in the second quarter of 2021 was $2 billion, an increase of $178 million, or 10%, when compared to the first quarter of 2021, while operating income was $317 million, an increase of $65 million, or 26%. These results were driven by increased activity across multiple product service lines in North America land, higher cementing activity in the Eastern Hemisphere and Latin America, increased completion tools sales in the Middle East, the North Sea, and Latin America, as well as higher well intervention services in Saudi Arabia and Algeria. Partially offsetting these improvements was lower stimulation activity in Latin America.

Drilling and Evaluation

Drilling and Evaluation revenue in the second quarter of 2021 was $1.7 billion, an increase of $78 million, or 5%, when compared to the first quarter of 2021, while operating income was $175 million, an increase of $4 million, or 2%. These results were due to improved drilling-related services and wireline activity across all regions, along with increased testing services in the Eastern Hemisphere. Partially offsetting these increases were reduced software sales globally.

Geographic Regions

North America

North America revenue in the second quarter of 2021 was $1.6 billion, a 12% increase when compared to the first quarter of 2021. This increase was primarily driven by higher pressure pumping services, drilling-related services, and wireline activity in North America land, as well as higher well construction activity in the Gulf of Mexico. Partially offsetting these increases were reduced software sales across the region.

International

International revenue in the second quarter of 2021 was $2.1 billion, a 4% increase when compared to the first quarter of 2021. This improvement was primarily driven by higher well construction activity, completion tools sales, and well intervention services across all regions. Partially offsetting these increases were lower software sales across all regions and decreased stimulation activity in Latin America.

Latin America revenue in the second quarter of 2021 was $534 million, flat sequentially. Increased activity in multiple product service lines in Mexico, higher fluid services in Brazil, as well as additional completion tools sales in Guyana, were offset by reduced stimulation activity in Argentina, Mexico, and Brazil, lower software sales across the region, and decreased project management activity in Mexico and Ecuador.

Europe/Africa/CIS revenue in the second quarter of 2021 was $679 million, a 7% increase sequentially, resulting from increased activity across multiple product service lines in Russia, Norway, Algeria, and Ghana. These increases were partially offset by lower software sales across the region and lower activity in Nigeria.

Middle East/Asia revenue in the second quarter of 2021 was $925 million, a 5% increase sequentially, resulting from improved activity in multiple product service lines in Saudi Arabia, higher well intervention services across the region, increased drilling-related services in Oman, higher completion tools sales in Kuwait, higher well construction activity in Australia, and increased pipeline services in China. These improvements were partially offset by lower software sales across the region, lower project management activity in India, and lower activity in Bangladesh.

Selective Technology & Highlights

  • Halliburton announced StrataXaminer™, a new wireline logging service that helps operators acquire more accurate well data to better evaluate production potential. Obtaining high resolution images in oil or synthetic-based fluid systems has been an industry challenge for decades. StrataXaminer delivers high-resolution images of the reservoir structure to identify bedding, fracture patterns, fault zones, and potential flow barriers with increased accuracy.
  • Halliburton and TGS-NOPEC Geophysical ASA announced a collaboration to bring advanced seismic imaging to fiber optic sensing. The alliance will provide operators with advanced insight to determine their reservoir potential for oil and gas production or carbon storage. The Halliburton FiberVSP™ and Odassea™ distributed acoustic sensing solutions will now incorporate TGS’s seismic imaging workflows that process the entire seismic wavefield to generate high-resolution reservoir images.
  • Halliburton was awarded a contract from Kuwait Oil Company (KOC), a world leader in digital transformation, to expand KOC’s digital transformation journey by implementing solutions to maximize operational efficiency and increase production. The scope applies to all Kuwait fields including West Kuwait, South and East Kuwait, and Heavy Oil, complementing a recently awarded contract for similar services in North Kuwait.
  • Halliburton Labs announced four new companies that join four companies already participating in its collaborative environment to advance and scale cleaner, affordable energy. Alumina Energy, Ionada, Parasanti, and SurgePower Materials receive access to a broad range of industrial capabilities, technical expertise, and mentorship to scale their businesses.
  • Halliburton announced it will redeem, with cash on hand, the remaining $500 million outstanding principal amount of its 3.25% Senior Notes due 2021 on August 15, 2021.
  • Halliburton was awarded a contract from Petronas for a well construction program involving six wells in offshore East Malaysia. Halliburton will deliver these wells in collaboration with Sapura Drilling using its state-of-the-art Halliburton 4.0 digital platform. Deployed digital technologies will include the complete suite of Digital Well Program®, Digital Well Operations, and Digital Well Automation - all DecisionSpace® 365 cloud applications. The scope of work also includes key digital technologies from Sperry Drilling, Cementing, Drill Bits, Baroid, and Completions product lines. The campaign is the first integrated project of its kind in Malaysia, combining rig services with all aspects of planning, operations, and automation.
  • Halliburton was awarded a contract from Ecopetrol to collaborate on their digital transformation strategy for drilling and completions, including the digitalization of the well delivery process. This enables Ecopetrol to optimize their planning, design, and well execution end-to-end and accelerate value creation across the asset lifecycle.
  • Halliburton announced that it won a contract to provide Production Chemicals and Associated Services for a large IOC in Oman. Under the seven-year contract, Halliburton will supply a full suite of customized products along with specialized services to support the in-field chemical treatments.
  • TechnipFMC and Halliburton announced they received an OTC Spotlight on New Technology Award® (SONT) for their Odassea™ Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and qualifications. The Odassea service integrates hardware and digital systems to strengthen capabilities in subsea reservoir monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions.
  • Halliburton announced an expansion of its digital collaboration with Aker BP, a Norwegian oil and gas exploration and production company, by deploying digital twins to automate work processes and accelerate decision-making. Aker BP is using Digital Well Program®, a DecisionSpace® 365 cloud application, that turns well planning and design into a live process where field development scenarios are continuously updated and compared to a digital twin to deliver safe, cost-effective, and productive wells.
  • Halliburton signed a contract with Petrofac, an international service provider to the energy industry, to adopt Digital Well Program®, a DecisionSpace® 365 cloud application, to automate drilling, completions, and engineering processes. The three-year contract enables Petrofac to incorporate artificial intelligence, machine learning, and data science to optimize its well engineering service offering.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Forward-looking Statements

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the impact of COVID-19 and any variants, the related economic repercussions and resulting negative impact on demand for oil and gas, operational challenges relating to COVID-19 and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees, remote work arrangements, performance of contracts and supply chain disruptions; the ability of the OPEC+ countries to agree on and comply with supply limitations; the continuation or suspension of our stock repurchase program, the amount, the timing, and the trading prices of Halliburton common stock, and the availability and alternative uses of cash; changes in the demand for or price of oil and/or natural gas; potential catastrophic events related to our operations, and related indemnification and insurance matters; protection of intellectual property rights and against cyber-attacks; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to oil and natural gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services, and climate-related initiatives; compliance with laws related to income taxes and assumptions regarding the generation of future taxable income; risks of international operations, including risks relating to unsettled political conditions, war, the effects of terrorism, foreign exchange rates and controls, international trade and regulatory controls and sanctions, and doing business with national oil companies; weather-related issues, including the effects of hurricanes and tropical storms; changes in capital spending by customers, delays or failures by customers to make payments owed to us, and the resulting impact on our liquidity; execution of long-term, fixed-price contracts; structural changes and infrastructure issues in the oil and natural gas industry; maintaining a highly skilled workforce; availability and cost of raw materials; agreement with respect to and completion of potential dispositions, acquisitions and integration and success of acquired businesses and operations of joint ventures. Halliburton's Form 10-K for the year ended December 31, 2020, Form 10-Q for the quarter ended March 31, 2021, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

HALLIBURTON COMPANY

Condensed Consolidated Statements of Operations

(Millions of dollars and shares except per share data)

(Unaudited)

 

Three Months Ended

 

June 30

 

March 31

 

2021

 

2020

 

2021

Revenue:

 

 

 

 

 

Completion and Production

$

2,048

 

 

$

1,672

 

 

$

1,870

 

Drilling and Evaluation

1,659

 

 

1,524

 

 

1,581

 

Total revenue

$

3,707

 

 

$

3,196

 

 

$

3,451

 

Operating income (loss):

 

 

 

 

 

Completion and Production

$

317

 

 

$

159

 

 

$

252

 

Drilling and Evaluation

175

 

 

127

 

 

171

 

Corporate and other

(58

)

 

(50

)

 

(53

)

Impairments and other charges

 

 

(2,147

)

 

 

Total operating income (loss)

434

 

 

(1,911

)

 

370

 

Interest expense, net

(120

)

 

(124

)

 

(125

)

Other, net

(19

)

 

(48

)

 

(22

)

Income (loss) before income taxes

295

 

 

(2,083

)

 

223

 

Income tax benefit (provision) (a)

(65

)

 

402

 

 

(52

)

Net Income (loss)

$

230

 

 

$

(1,681

)

 

$

171

 

Net (Income) loss attributable to noncontrolling interest

(3

)

 

5

 

 

(1

)

Net Income (loss) attributable to company

$

227

 

 

$

(1,676

)

 

$

170

 

Basic and diluted net income (loss) per share

$

0.26

 

 

$

(1.91

)

 

$

0.19

 

Basic and diluted weighted average common shares outstanding

890

 

 

877

 

 

889

 

(a)

During the three months ended June 30, 2020 the tax benefit includes the tax effect on impairments and other charges.

HALLIBURTON COMPANY

Condensed Consolidated Statements of Operations

(Millions of dollars and shares except per share data)

(Unaudited)

 

Six Months Ended

 

June 30

 

2021

 

2020

Revenue:

 

 

 

Completion and Production

$

3,918

 

 

$

4,634

 

Drilling and Evaluation

3,240

 

 

3,599

 

Total revenue

$

7,158

 

 

$

8,233

 

Operating income (loss):

 

 

 

Completion and Production

$

569

 

 

$

504

 

Drilling and Evaluation

346

 

 

344

 

Corporate and other

(111

)

 

(110

)

Impairments and other charges

 

 

(3,220

)

Total operating income (loss)

804

 

 

(2,482

)

Interest expense, net

(245

)

 

(258

)

Loss on early extinguishment of debt (a)

 

 

(168

)

Other, net

(41

)

 

(71

)

Income (loss) before income taxes

518

 

 

(2,979

)

Income tax benefit (provision) (b)

(117

)

 

283

 

Net Income (loss)

$

401

 

 

$

(2,696

)

Net (Income) loss attributable to noncontrolling interest

(4

)

 

3

 

Net Income (loss) attributable to company

$

397

 

 

$

(2,693

)

Basic and diluted net income (loss) per share

$

0.45

 

 

$

(3.07

)

Basic and diluted weighted average common shares outstanding

889

 

 

877

 

(a)

During the six months ended June 30, 2020, Halliburton recognized a $168 million loss on extinguishment of debt related to the early redemption of $1.5 billion aggregate principal amount of senior notes.

(b)

The tax benefit during the six months ended June 30, 2020 includes the tax effect on impairment and other charges. Additionally, during the six months ended June 30, 2020, Halliburton recognized a $310 million tax expense associated with a valuation allowance on its deferred tax assets based on current market conditions and the expected impact on the Company's business outlook.

HALLIBURTON COMPANY

Condensed Consolidated Balance Sheets

(Millions of dollars)

(Unaudited)

 

June 30

 

December 31

 

2021

 

2020

Assets

Current assets:

 

 

 

Cash and equivalents

$

2,658

 

 

$

2,563

 

Receivables, net

3,459

 

 

3,071

 

Inventories

2,355

 

 

2,349

 

Other current assets

1,455

 

 

1,492

 

Total current assets

9,927

 

 

9,475

 

Property, plant, and equipment, net

4,214

 

 

4,325

 

Goodwill

2,804

 

 

2,804

 

Deferred income taxes

2,174

 

 

2,166

 

Operating lease right-of-use assets

735

 

 

786

 

Other assets

1,063

 

 

1,124

 

Total assets

$

20,917

 

 

$

20,680

 

 

 

 

 

Liabilities and Shareholders’ Equity

Current liabilities:

 

 

 

Accounts payable

$

1,891

 

 

$

1,573

 

Accrued employee compensation and benefits

528

 

 

517

 

Current maturities of long-term debt

515

 

 

695

 

Current portion of operating lease liabilities

247

 

 

251

 

Other current liabilities

1,153

 

 

1,385

 

Total current liabilities

4,334

 

 

4,421

 

Long-term debt

9,124

 

 

9,132

 

Operating lease liabilities

688

 

 

758

 

Employee compensation and benefits

536

 

 

562

 

Other liabilities

806

 

 

824

 

Total liabilities

15,488

 

 

15,697

 

Company shareholders’ equity

5,420

 

 

4,974

 

Noncontrolling interest in consolidated subsidiaries

9

 

 

9

 

Total shareholders’ equity

5,429

 

 

4,983

 

Total liabilities and shareholders’ equity

$

20,917

 

 

$

20,680

 

HALLIBURTON COMPANY

Condensed Consolidated Statements of Cash Flows

(Millions of dollars)

(Unaudited)

 

Six Months Ended

 

Three Months Ended

 

June 30

 

June 30

 

2021

 

2020

 

2021

Cash flows from operating activities:

 

 

 

 

 

Net Income (loss)

$

401

 

 

 

$

(2,696

)

 

 

$

230

 

 

Adjustments to reconcile net income (loss) to cash flows from operating activities:

 

 

 

 

 

Impairments and other charges

 

 

 

3,220

 

 

 

 

 

Depreciation, depletion, and amortization

449

 

 

 

599

 

 

 

223

 

 

Working capital (a)

11

 

 

 

296

 

 

 

(48

)

 

Deferred income tax benefit

 

 

 

(353

)

 

 

13

 

 

Other operating activities

(249

)

 

 

(243

)

 

 

(9

)

 

Total cash flows provided by operating activities

612

 

 

 

823

 

 

 

409

 

 

Cash flows from investing activities:

 

 

 

 

 

Capital expenditures

(295

)

 

 

(355

)

 

 

(191

)

 

Proceeds from sales of property, plant, and equipment

105

 

 

 

122

 

 

 

47

 

 

Other investing activities

(31

)

 

 

(48

)

 

 

(15

)

 

Total cash flows used in investing activities

(221

)

 

 

(281

)

 

 

(159

)

 

Cash flows from financing activities:

 

 

 

 

 

Payments on long-term borrowings

(192

)

 

 

(1,653

)

 

 

(4

)

 

Proceeds from issuance of long-term debt, net

 

 

 

994

 

 

 

 

 

Dividends to shareholders

(80

)

 

 

(198

)

 

 

(40

)

 

Stock repurchase program

 

 

 

(100

)

 

 

 

 

Other financing activities

4

 

 

 

20

 

 

 

(1

)

 

Total cash flows used in financing activities

(268

)

 

 

(937

)

 

 

(45

)

 

Effect of exchange rate changes on cash

(28

)

 

 

(62

)

 

 

7

 

 

Increase (decrease) in cash and equivalents

95

 

 

 

(457

)

 

 

212

 

 

Cash and equivalents at beginning of period

2,563

 

 

 

2,268

 

 

 

2,446

 

 

Cash and equivalents at end of period

$

2,658

 

 

 

$

1,811

 

 

 

$

2,658

 

 

(a)

Working capital includes receivables, inventories, and accounts payable.

See Footnote Table 1 for Reconciliation of Cash Flows from Operating Activities to Free Cash Flow

HALLIBURTON COMPANY

Revenue and Operating Income (Loss) Comparison

By Operating Segment and Geographic Region

(Millions of dollars)

(Unaudited)

 

Three Months Ended

 

June 30

 

March 31

Revenue

2021

 

2020

 

2021

By operating segment:

 

 

 

 

 

Completion and Production

$

2,048

 

 

$

1,672

 

 

$

1,870

 

Drilling and Evaluation

1,659

 

 

1,524

 

 

1,581

 

Total revenue

$

3,707

 

 

$

3,196

 

 

$

3,451

 

 

 

 

 

 

 

By geographic region:

 

 

 

 

 

North America

$

1,569

 

 

$

1,049

 

 

$

1,404

 

Latin America

534

 

 

346

 

 

535

 

Europe/Africa/CIS

679

 

 

691

 

 

634

 

Middle East/Asia

925

 

 

1,110

 

 

878

 

Total revenue

$

3,707

 

 

$

3,196

 

 

$

3,451

 

 

 

 

 

 

 

Operating Income (Loss)

 

 

 

 

 

By operating segment:

 

 

 

 

 

Completion and Production

$

317

 

 

$

159

 

 

$

252

 

Drilling and Evaluation

175

 

 

127

 

 

171

 

Total

492

 

 

286

 

 

423

 

Corporate and other

(58

)

 

(50

)

 

(53

)

Impairments and other charges

 

 

(2,147

)

 

 

Total operating income (loss)

$

434

 

 

$

(1,911

)

 

$

370

 

HALLIBURTON COMPANY

Revenue and Operating Income (Loss) Comparison

By Operating Segment and Geographic Region

(Millions of dollars)

(Unaudited)

 

Six Months Ended

 

June 30

Revenue

2021

 

2020

By operating segment:

 

 

 

Completion and Production

$

3,918

 

 

$

4,634

 

Drilling and Evaluation

3,240

 

 

3,599

 

Total revenue

$

7,158

 

 

$

8,233

 

 

 

 

 

By geographic region:

 

 

 

North America

$

2,973

 

 

$

3,509

 

Latin America

1,069

 

 

862

 

Europe/Africa/CIS

1,313

 

 

1,522

 

Middle East/Asia

1,803

 

 

2,340

 

Total revenue

$

7,158

 

 

$

8,233

 

 

 

 

 

Operating Income (Loss)

 

 

 

By operating segment:

 

 

 

Completion and Production

$

569

 

 

$

504

 

Drilling and Evaluation

346

 

 

344

 

Total

915

 

 

848

 

Corporate and other

(111

)

 

(110

)

Impairments and other charges

 

 

(3,220

)

Total operating income (loss)

$

804

 

 

$

(2,482

)

FOOTNOTE TABLE 1

HALLIBURTON COMPANY

Reconciliation of Cash Flows from Operating Activities to Free Cash Flow

(Millions of dollars)

(Unaudited)

 

Six Months Ended

 

Three Months Ended

 

June 30

 

June 30

 

2021

 

2020

 

2021

Total cash flows provided by operating activities

$

612

 

 

$

823

 

 

$

409

 

Capital expenditures

(295

)

 

(355

)

 

(191

)

Proceeds from sales of property, plant, and equipment

105

 

 

122

 

 

47

 

Free cash flow (a)

$

422

 

 

$

590

 

 

$

265

 

(a)

The Free Cash Flow metric is a non-GAAP financial measure, which is calculated as “Total cash flows provided by operating activities” less “Capital expenditures” plus “Proceeds from sales of property, plant, and equipment.” Management believes that Free Cash Flow is a key measure to assess liquidity of the business and is consistent with the disclosures of our direct, large-cap competitors. Prior periods presented are consistent with this metric.

Conference Call Details

Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, July 20, 2021, to discuss its second quarter 2021 financial results. The call will begin at 8:00 AM Central Time (9:00 AM Eastern Time).

Please visit the website to listen to the call via live webcast. You may also participate in the call by dialing (844) 358-9181 within North America or +1 (478) 219-0188 outside of North America. A passcode is not required. Attendees should log in to the webcast or dial in approximately 15 minutes prior to the start of the call.

A replay of the conference call will be available on Halliburton’s website until July 27, 2021. Also, a replay may be accessed by telephone at (855) 859-2056 within North America or +1 (404) 537-3406 outside of North America, using the passcode 9429544.


Contacts

For Investors:
Abu Zeya
Halliburton, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2688

For News Media:
Emily Mir
Halliburton, External Affairs
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281-871-2601


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