AUSTIN, Texas--(BUSINESS WIRE)--The Whistler Pipeline began full commercial service on July 1st, 2021 providing approximately 2.0 billion cubic feet per day (Bcf/d) of incremental natural gas transport capacity to the Texas Gulf Coast markets from the Permian basin, which will help ensure sufficient reliable gas takeaway and reduce natural gas flaring in the Permian basin. The delivery points in the Agua Dulce provide shippers with access to Gulf Coast industrial and export markets including LNG.
The Whistler Pipeline is 100% owned by Whistler Pipeline LLC, which is a consortium made up of MPLX LP (NYSE: MPLX), WhiteWater and a joint venture between Stonepeak Infrastructure Partners (Stonepeak) and West Texas Gas, Inc. (WTG).
ABOUT THE WHISTLER PIPELINE
The Whistler Pipeline is an approximately 450-mile, 42-inch intrastate pipeline that transports natural gas from the Waha Header in the Permian Basin to Agua Dulce, Texas, providing direct access to South Texas and export markets. An approximately 50-mile 36-inch lateral provides connectivity to the Midland Basin.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com
About WhiteWater
WhiteWater is an Austin-based independent midstream company providing transportation services to domestic oil and gas plays. For more information about WhiteWater, visit www.whitewatermidstream.com.
About Stonepeak Infrastructure Partners
Stonepeak Infrastructure Partners (www.stonepeakpartners.com) is an infrastructure-focused private equity firm with over $15 billion of assets under management and with offices in New York, Houston and Austin. Stonepeak invests in long-lived, hard-asset businesses and projects that provide essential services to customers, and seeks to actively partner with high-quality management teams, facilitate operational improvements, and provide capital for growth initiatives.
About WTG
WTG (West Texas Gas, Inc. & affiliates) is composed of a family of related natural gas midstream and downstream entities headquartered in Midland, TX since 1976 with operations in more than 90 Texas and Oklahoma counties. These WTG entities operate more than 700 MMcf/d of gas processing capacity with more than 10,000 miles of gathering systems, 1,800 miles of transmission pipelines and distribution systems serving approximately 25,000 LDC customers.
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements relate to, among other things, statements with respect to forecasts regarding capacity, rates, incremental investment, market conditions and the market and operational opportunities discussed above. You can identify forward-looking statements by words such as "anticipate," "design," "estimate," "expect," "forecast," "plan," "project," "potential," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the companies and are difficult to predict. Factors that could impact the opportunities described above are set forth under the heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2020, and Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission (SEC). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPLX's Form 10-K, Forms 10-Q and other filings with the SEC could also have material adverse effects on forward-looking statements. Any forward-looking statements speak only as of the date of the applicable communication and the companies undertake no obligation to update any forward-looking statements except to the extent required by applicable law. Copies of MPLX's Form 10-K, Forms 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.
MPLX LP Investor Relations: Kristina Kazarian (419) 421-2071
WhiteWater Investor Relations: www.whitewatermidstream.com
Stonepeak Infrastructure Partners Investor Relations: Dan Schmitz (212) 907-5119
WTG Investor Relations: David B. Freeman (432) 682-4349
HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) announced today that its Board of Directors declared a semi-annual interim cash dividend of $0.08 per share of Class A common stock, and a cash distribution of $0.08 per Class B unit payable on September 1, 2021 to shareholders of record as of August 12, 2021.
We believe this dividend payment level is secure and sustainable with oil prices at approximately half their current levels. Magnolia expects to announce the remaining portion of its total annual dividend payment next February in conjunction with the release of our full-year 2021 financial results. The second portion of our annual dividend payment will be based on our 2021 results and our long-term view of product prices.
“Our dividend framework is aligned with the characteristics of our business model,” said Steve Chazen, Magnolia’s Chairman, President and CEO. “These principles include maintaining our low leverage, limiting our capital spending to allow for consistent and sizable free cash flow generation while providing moderate volume growth and strong pre-tax margins. Part of Magnolia’s total shareholder return proposition is to establish a differentiated approach toward paying a regular and sustainable dividend that will grow over time as we continue to execute our business plan.”
About Magnolia Oil & Gas
Magnolia is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.
Brian Corales
713-842-9036
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Highly Durable, Robust Handheld Tablet with Night Vision Capabilities Designed to Fit into Tactical Vest
NATIONAL HARBOR, Md.--(BUSINESS WIRE)--DT Research, the leading designer and manufacturer of purpose-built computing solutions for vertical markets, today announced the DT361AM and DT361AD, 6-inch military-spec rugged handheld tablets that run the Microsoft® Windows® 10 operating system and contain walkie-talkie communication and night vision capabilities. These highly robust, yet compact tablets weighing only one pound are purpose-built for mission-critical environments and designed to secure to a tactical vest for easy access.
The DT361AM and DT361AD handheld tablets will be showcased August 2-4th in Booth 1911 at the Sea-Air-Space Conference and Expo in the Gaylord National Resort & Convention Center in National Harbor, Maryland. Users appreciate these feature-rich handheld tablets, which have a 6-inch, daylight mode/night vision screen with capacitive multi-touch for ultimate viewing versatility. Military durability IP65 and MIL-STD-810H ratings verify that the tablets will perform well in harsh conditions. DT Research’s signature hot swappable batteries ensure continuous operation, while Intel® 10th Generation Core™ i7 processors deliver high performance and energy efficiency.
“These unique handheld tablets showcase our innovative design capabilities to deliver purpose-built mobile solutions for military tactical operations, law enforcement and other mission-critical field use cases,” said Daw Tsai, President of DT Research. “While working with various U.S. military groups, we saw the need for a small, highly durable device with the robust functionality enabled by Windows® 10, combined with specialty features such as walkie-talkie communication, night vision capabilities and multifactor authorization for enhanced security.”
Purpose-built for Tactical Operations
The DT361AM and DT361AD tablets provide hands-free walkie-talkie communication, enabling a user to easily speak to many people simultaneously through built-in speaker/microphones and effectively communicate in noisy environments. For stealth operations during low-light situations, a luminance night vision screen provides clear readability of the display with the naked eye in dark environments and does not interfere with Night Vision Goggles (NVGs). Users can take advantage of a vest tablet mount, which supports handsfree communication and offers quick access to the device when necessary.
Designed for Mission Critical Environments
The tablets are highly durable and reliable with IP65-rated for water and dust resistance; MIL-STD-810H for shock and vibration protection. The DT361AM and DT361AD are tested to operate in environments 122 degrees Fahrenheit and can be safely stored in temperatures as low as -4 Fahrenheit. The 3100mAh batteries are hot-swappable for 24/7 operation.
Advanced Identity Verification and Security
A built-in Common Access Card (CAC) reader provides two-factor authentication by matching a user’s smart card with a personal identification (PIN) number. CAC readers also meet the requirements for data encryption and digital signature technologies to provide secure logical access to computer systems and networks. The DT361AM and DT361AD tablets are TAA compliant with NIST compliant BIOS.
The DT361AM and DT361AD handheld rugged tablets include a robust set of features and options.
Availability
The DT Research DT361AM and DT361AD rugged handheld tablets are immediately available from DT Research’s authorized resellers and partners.
About DT Research
DT Research™, an early Mobile Tablet pioneer and leading designer and manufacturer of purpose-built computing systems for vertical markets, delivers the world’s most comprehensive line of Rugged and GNSS Tablets, Mobile POS Tablets, Convertible Laptops and Medical Computing Solutions. DT Research products are uniquely designed with customizable built-in options assembled in California, providing customers with rapid time-to-market solutions that are TAA compliant. The DT Research family of products is based on embedded computing platforms that power secure, reliable and cost-effective computing. DT Research systems offer computing mobility within industrial and harsh environments through durable solutions with wireless connectivity, high-quality touch displays, and Windows® operating systems. More than 200 organizations across the globe rely on DT Research solutions in industries such as government, healthcare, hospitality, logistics, military, retail and warehousing. DT Research is headquartered in Silicon Valley, California. For more information, visit www.dtresearch.com and follow @dtresearch, #MilitaryTablets, #RuggedTablets and #GNSSTablets.
DT Research and WebDT are trademarks of DT Research, Inc. All other brands and product names may be trademarks and/or registered trademarks of their respective owners.
Media Contacts:
Barbara Reichert
Reichert Communications, LLC
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Gabrielle Marshall
DT Research
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KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Mudrock Media will present at Gastech 2021 exhibition, the first major energy event to take place live & in-person from September 21-23, 2021 at Dubai World Trade Centre, United Arab Emirates, and the 28th World Gas Conference (WGC2022) from May 23-27, 2022 in Daegu, South Korea. Mudrock Media will hand out 3,000 complimentary copies of printed Oil & Gas Storage and Trade Series –World Oil Refinery & LNG Plant Map at both exhibitions.
The map is open now for sponsorship and advertising opportunities for exclusive mileage at Gastech 2021 or WGC2022. Companies that wish to sponsor and advertise their brand and marketing with the World Crude Oil Refinery and LNG Plant Map –version 2021/22, can download the booking form. Limited to four advert slots!
The Crude Oil Refinery and LNG Plant Map is very handy for reference or display, and can be purchased as an A0 poster, without sponsors advertisement displayed or with sponsors advertisement displayed at generous discount.
East Asia Energy Series: Offshore Wind and Power Plant Map was launched at Wind Energy Asia 2021 in March 2021 in downloadable PDF format.
MUDROCK MEDIA MOBILE APPS was developed in late 2016 to enhance the use of printed wall poster 'SMARTER MAP' that allow quick access to more detail information. You can use the mobile apps to search for the activities and status of exploration, production field, as well as supporting facilities in the oil & gas industry by scanning on the QR code from the SMARTER MAP.
Click on Android or iPhone to install the Mudrock Media Mobile Apps.
ABOUT OIL & GAS STORAGE AND TRADE SERIES: WORLD CRUDE OIL & LNG PLANT MAP
The first World Oil Refinery & LNG Plant Map published in 2018, is the essential reference map for all energy and oil & gas professionals, and launched at World Gas Conference in Washington DC (June) with a total distribution of 10,000 copies, carrying sponsors’ logo and advertisements. Detailed information covering operator name, capacity and location of Crude Oil Refinery and LNG Plant is shown on the poster map sized 29x37 inch.
Key Features
Oil & Gas
ABOUT MUDROCK MEDIA SDN BHD
Mudrock Media, a cartographic and advertising company, is the leading mapping solution and published a series of Map of Oil & Gas Activities for regions and countries including Southeast-Asia, Middle-East, Australasia, Asia-Pacific, South-Asia, Malaysia, and Myanmar. Advertise at our Oil & Gas Map series with over 500,000 FREE Circulation, an opportunity for companies to reinforce their company’s brand, products, services and projects through our industrial wall maps collection.
Learn more at https://mudrockmedia.com/ and follow updates on LinkedIn.
MudrockMedia.com
Kitt Yee KONG, General Manager
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For WhatsApp call and message +60 12 216 2412
HOUSTON--(BUSINESS WIRE)--$NEXT #carboncapture--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that it has agreed to sell $5.0 million of Series C Convertible Preferred Stock (Series C Preferred Stock). The Series C Preferred Stock is being issued in a private placement to TEP Next Decade, LLC, an affiliate of Energy & Power Transition Partners, LLC (EPTP).
EPTP is a private equity fund whose goal is to catalyze cleaner, smarter energy and digital industries through investments that drive meaningful value for both its investors and the environment alike. NextDecade’s focus on green LNG and carbon capture and storage fit firmly within EPTP’s transitional energy investment strategy.
“NextDecade is pleased to welcome Energy & Power Transition Partners as an investor,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “We share EPTP’s vision of making North America’s power and energy systems more sustainable and through NextDecade’s wholly-owned subsidiary, NEXT Carbon Solutions, we are helping lead the way by reducing the costs of carbon capture and storage projects.”
“The investment in NextDecade is consistent with EPTP’s mission, which is to provide society with carbon neutral solutions for the delivery of reliable energy resources,” said Pat Eilers, EPTP’s Founder and Managing Partner. “NextDecade is the global pioneer in green LNG as a result of the unique combination of its NEXT Carbon Solutions business with its low-cost Rio Grande LNG project. EPTP is thrilled to support NextDecade as it commercializes its differentiated energy solutions.”
The offer and sale of the Series C Preferred Stock has not been, and will not be, registered under the Securities Act of 1933 (Securities Act), or any other securities laws, and the Series C Preferred Stock cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About NextDecade Corporation
NextDecade Corporation is a clean energy company accelerating the path to a net-zero future. Leading innovation in greener LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 mtpa LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities.
NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.
About Energy & Power Transition Partners
Energy & Power Transition Partners, LLC (EPTP), founded in 2020 by Pat Eilers, is a private equity firm with a strategic investment focus in renewable energy, energy & digital technology and transitional energy. These investment opportunities facilitate the ongoing transition to a cleaner, lower-emission energy sector. EPTP leadership has been at the forefront of the energy transition for the past 20+ years, and strives to continue to pioneer our core sectors through an experienced and proven team of investment professionals. Starting September 1, EPTP will operate as Transition Equity Partners (TEP).
NextDecade Forward-Looking Information
This press release contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this presentation, including statements regarding the future results of operations and financial position of NEXTDecade Corporation and its subsidiaries (collectively, the “Company”), its strategy and plans, and its expectations for future operations, are forward-looking statements. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions, are intended to identify forward-looking statements.
The Company has based these forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, actual results could differ from those expressed in its forward-looking statements. The Company’s future financial position and results of operations as well as any forward-looking statements are subject to change and inherent risks and uncertainties. You should consider the Company’s forward-looking statements in light of a number of factors that may cause actual results to vary from its forward-looking statements regarding general business activities or its liquefied natural gas (“LNG”) and carbon capture, utilization, and storage (“CCUS”) business lines including, but not limited to: progress and timing in the development of and final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”); the successful completion of the Terminal by third-party contractors and a pipeline to supply gas to the Terminal being developed by a third-party (the “Pipeline”); the Company’s ability to develop its CCUS business line through deployment and operation of carbon capture and storage (“CCS”) processes that capture and store carbon dioxide (“CO2”) emissions at third-party facilities and at the Terminal (the “CCS project”); the accuracy of estimated costs for the Terminal, the CCS project, and implementation of the CCS processes at third-party facilities; statements that the Terminal, the CCS project, and the CCS processes, when completed or implemented, will have certain characteristics, including amounts of liquefaction capacities or amount of CO2 captured and stored; the development risks, operational hazards, and regulatory approvals applicable to the Company’s LNG and CCUS development, construction, and operations activities; the global demand for and price of LNG; the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG and CCUS industries, including environmental laws and regulations that impose significant compliance costs and liabilities; lack of broad implementation of carbon pricing regimes aimed at reducing greenhouse gas emissions that reasonably price emission costs; global development and maturation of emissions reduction credit/offset markets; adverse changes to existing and planned CCUS tax incentive regimes; global pandemics, including the 2019 novel coronavirus pandemic, and their impact on the Company’s business and operating results, including any disruptions in the Company’s operations or development activities and the health and safety of the Company’s employees, and on the Company’s customers, the global economy, the demand for LNG, and number and scale of implemented CCS projects; risks related to doing business in and having counterparties in foreign countries; technological innovation which may lessen the Company’s anticipated competitive advantages; the Company’s ability to secure additional corporate and/or project debt and equity financing in the future at levels required to execute its business plans; the Company’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which the Company is engaged; management of growth; general economic conditions; the Company’s ability to generate cash; compliance with environmental laws and regulations; and the result of future financing efforts and applications for customary tax incentives.
Additional factors that you should consider are set forth in detail in the “Risk Factors” section of the Company's most recent Annual Report on Form 10-K as well as other filings the Company has made and will make with the Securities and Exchange Commission which, after their filing, can be found on the Company’s website, www.next-decade.com.
Should one or more of the foregoing risks or uncertainties materialize in a way that negatively impacts the Company, or should its underlying assumptions prove incorrect, its actual results may vary materially from those anticipated in its forward-looking statements and, its business, financial condition and results of operations could be materially and adversely affected. You should not rely upon forward-looking statements as predictions of future events. In addition, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company cautions readers that the information contained in this presentation is only current as of the date of this presentation and, therefore, except as required by applicable law, the Company does not undertake any obligation to publicly correct or update any forward-looking statement.
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MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of L3Harris Technologies (NYSE:LHX) has declared a quarterly cash dividend of $1.02 per share on the common stock, payable September 17, 2021, to shareholders of record as of the close of business on September 3, 2021.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries. L3Harris.com.
Rajeev Lalwani
Investor Relations
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321-727-9383
Jim Burke
Media Relations
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321-727-9131
PLANO, Texas--(BUSINESS WIRE)--Vine Energy Inc. (NYSE: VEI) (the “Company” or “Vine”) announced today the execution of an agreement with Project Canary, the standard for trusted Environmental, Social, and Governance data, in which Vine is expected to become the first in the Haynesville Basin to certify 100% of the company’s assets and gain access to certified, responsibly sourced gas (RSG) markets.
The certification process is expected to begin in November 2021, when Project Canary will begin its TrustWell™ operational certification review of all the company’s producing wells. In addition, Project Canary will deploy “Canary X” continuous emissions monitoring devices across locations representing 25-30% of Vine’s natural gas production which will target domestic and international RSG markets.
Noting the significance of the agreement, Eric Marsh, Chairman, President and Chief Executive Officer, commented, “Since Vine’s inception, we have demonstrated an unwavering commitment to environmental stewardship. In the past three years alone, we’ve reduced our methane intensity by 62% and our greenhouse gas intensity by 35%, all while growing production nearly three times over the same period. Our relationship with Project Canary will impart the reach necessary to both independently verify our performance and reduce our emissions even further, while concurrently meeting the growing demand for cleaner and affordable natural gas across the globe. As an essential component of our nation’s energy backbone, we are proud of the leadership role we are playing to protect our ecosystems for future generations with energy sourced in an environmentally responsible manner.”
Chris Romer, CEO and co-founder of Project Canary said, “Vine Energy is a well-recognized leader in the Haynesville and we are proud to be working with them to extend their operational and environmental performance goals and objectives.”
About Vine Energy Inc.
Vine Energy Inc., based in Plano, Texas, is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The Company is listed on the New York Stock Exchange under the symbol “VEI”.
About Project Canary
Project Canary is a Denver-based B-Corp focused on delivering trusted responsibly sourced gas certification and advanced continuous emissions monitoring technology to help energy companies achieve best-in-class ESG performance. With more than 600 operational data points analyzed, TrustWell is the most comprehensive operational certification program available, providing a recognized badge of high standards. Project Canary’s team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards, including being named “Best for the World 2021” for creating the greatest impact through its business. www.ProjectCanary.com
Forward-Looking Statements
The information in this press release includes “forward-looking statements.” All statements, other than statements of historical fact included in this Notice, regarding our strategy, future operations, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this Notice, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production and sale of natural gas. These risks include, but are not limited to, commodity price volatility, lack of availability of drilling and production equipment and services, costs for drilling and completion and production services, drilling and other operating risks, environmental risks, regulatory changes, the uncertainty inherent in estimating natural gas reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and other risks.
David Erdman
(469) 605-2480
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Brian Miller
Vice President of Growth and Policy, Project Canary
(202) 669-3801
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MINNEAPOLIS--(BUSINESS WIRE)--$DCI #Donaldson--Donaldson Company, Inc. (NYSE: DCI) today announced that its Board of Directors declared a regular cash dividend of 22.0 cents per share. The dividend is payable August 31, 2021, to shareholders of record on August 16, 2021. The Company has paid a cash dividend every quarter for 65 years and was added to the S&P High-Yield Dividend Aristocrats Index in January 2016 after 20 consecutive years of annual dividend increases.
About Donaldson Company
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OE brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.
Charley Brady (952) 887-3753
Business Expands Commodities Trading, Risk Management and Hedging Services
DALLAS--(BUSINESS WIRE)--Hilltop Securities Inc. (HilltopSecurities) today announced the expansion of its commodities brokerage and trading business with the launch of a new division, HTS Commodities. The division consists of 19 experienced commodities professionals in Texas and Tennessee, including nine in Amarillo, and three in Memphis who joined the firm on July 30. The team will provide a full suite of commodities trading, risk management, and wealth management services to farmers and ranchers across the United States.
The new additions include managing directors Brock Thompson and Will Snead in Amarillo, who serve as co-heads of HTS Commodities’ central plains region and managing directors Lewis Williamson and Marvin Coleman in Memphis, who serve as co-heads of the mid-south region. They join HilltopSecurities’ legacy team of seven commodities professionals in Plano, Texas. The newly expanded group is co-headed by Richard Konkel and Jerome Gaudry, with each bringing over two decades of banking, commodities, and financial engineering experience.
“The launch of HTS Commodities with the addition of 12 highly experienced and accomplished commodities and futures professionals is another important step in HilltopSecurities’ growth plan,” said Brad Winges, President and CEO of HilltopSecurities. “We are proud to welcome these talented individuals to our team and look forward to their contributions as we continue to seek opportunities to build this business and expand our product offerings to farmers and ranchers in the United States.”
HTS Commodities will focus on a broad range of commodities and futures trading including livestock, grains, cotton, energy, metals, U.S. market indices, and U.S. and foreign currencies, among other wealth advisory services. In addition, the division will provide commodities consulting services and customized hedging strategies for producers, consumers, and investors. HTS Commodities’ recent hires more than double the size of the firm’s existing commodities desk with plans to continue its growth throughout other geographic regions.
“As a full-service investment bank, HilltopSecurities is focused on expanding across our business lines and the markets we serve to deliver a comprehensive suite of financial services for our clients,” said Konkel.
“The launch of HTS Commodities marks a significant milestone as we increase the scope of our trading and hedging solutions for individual and institutional clients. We’re excited to begin this next chapter and look forward to continued growth for HTS Commodities,” added Gaudry.
More information about HTS Commodities can be found at HTSCommodities.com.
About Brock Thompson
Thompson co-founded TRU Trading, LLC in Amarillo in 2012 before announcing last month that the firm’s nine employees were joining HilltopSecurities. He has spent 19 years working with clients in the agriculture and energy industries, providing marketing recommendations and commodity risk management. He has been a Commodity Trading Advisor and has advised clients on managed futures programs. Thompson remains active in the cattle feeding industry as a cattle feeder and is a member of the Texas Cattle Feeders Association. He is also a member of the National Cattlemen’s Beef Association’s Tax and Finance Committee, as well as the College of Agricultural Developmental Council for Texas A&M University, where he earned a bachelor’s degree in Animal Science.
About Will Snead Jr.
Snead is a co-founder of TRU Trading, LLC and has 15 years of experience in the commodities industry focusing on risk management strategies in the agriculture and energy sectors. He has previously served as a wealth manager for Morgan Stanley and Merrill Lynch. In addition to his experience as a futures broker and systems trader, Snead is a licensed real estate agent with TRU Land Realty Group/Keller Williams, servicing the farm and ranch industry, and also co-founded crop marketing management firm, TRU Vision Ag. He is a graduate of Texas A&M where he earned a degree in Finance and Accounting.
About Lewis Williamson Jr.
Williamson brings 37 years of experience to his role at HTS Commodities, most recently as senior vice president with Morgan Stanley where he served as a commodity specialist focusing on risk management. He has deep experience in the soy crushing industry, ethanol sector, grain elevators, broiler industry, and exporters of U.S. agricultural products. He also has focused on balance sheet analysis for the row crop sector throughout his career. Williamson began his career with Merrill Lynch.
About Marvin Coleman
Coleman joins HTS Commodities from Morgan Stanley in Memphis, Tennessee, where he served as senior vice president, commodity futures specialist. He has more than two decades of experience advising agricultural entities and select individuals on their commodity hedging and speculative programs, with a special focus on rough rice futures.
About Hilltop Securities Inc.
Hilltop Securities Inc. delivers forthright advice and tailored solutions to municipal issuers, institutions, broker-dealers, and individuals. The full-service investment bank and registered investment adviser is headquartered in Dallas, Texas, with offices across the United States. Areas of focus include public finance; municipal and taxable fixed income underwriting, sales, and trading; retail brokerage services; securities clearing; structured finance; and securities lending. A wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH), HilltopSecurities’ affiliates include Momentum Independent Network Inc., PlainsCapital Bank, and PrimeLending. Learn more at www.HilltopSecurities.com. Member: NYSE/FINRA/SIPC.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. . Such forward-looking statements include, but are not limited to, statements concerning such things as our plans, objectives, strategies, expectations, intentions and other statements that are not statements of historical fact, and may be identified by words such as “building,” “focus,” “grow,” “look,” “plan,” “seek,” “view,” “will” or “would” or the negative of these words and phrases or similar words or phrases. For further discussion of such factors, see the risk factors described in Hilltop’s most recent Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.
Hilltop Holdings Inc.
Ben Brooks
214.252.4047
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HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on August 20, 2021 to holders of record on August 10, 2021.
About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
Investor Relations
Jud Bailey
+1 281-809-9088
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Media Relations
Thomas Millas
+1 713-879-2862
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Company joins major global businesses in setting aggressive climate agenda
DENVER--(BUSINESS WIRE)--#carbon--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced that the company will achieve net zero carbon emissions globally by 2030. This marks a significant step for the company in its long-time efforts to continually increase efficiencies and reduce environmental impacts at its hyperscale data center campuses worldwide.
With Vantage’s commitment to net zero carbon emissions, the company will not only actively work to reduce greenhouse gas emissions but will also invest in technologies and projects that remove carbon from the atmosphere. Vantage’s goal specifically targets reductions for emissions that the company directly controls, Scope 1 and 2 emissions, as well as reductions that it can guide or influence throughout its supply chain. Vantage is creating interim reduction targets that are in alignment with the Science Based Target Initiative (SBTi) methodology, which defines and promotes emissions reduction in line with climate science.
“As major consumers of power and land, data center operators have an undeniable responsibility to aggressively reduce emissions and lessen environmental impacts wherever possible. This is why we’ve set our target at net zero rather than carbon neutral,” explained Justin Thomas, chief technology officer, Vantage Data Centers. “Our goal is to be a sustainability leader, and we are setting interim reduction goals that touch every part of our business.”
Vantage will continue to prioritize partnerships and projects that directly benefit the environment and communities in which the company operates. Vantage will reach its net zero goal by focusing on four key areas:
“Vantage is taking a forward-looking approach to decarbonization by investing in the team, technology and processes needed to actively reduce our carbon footprint across the design, construction and operation of our data center campuses,” said Amanda Sutton, senior director of sustainability, Vantage Data Centers. “Our comprehensive strategy includes everything from the use of renewable energy to water conservation, waste reduction and recycling. We are making a strong commitment to sustainability while also rapidly expanding globally to support our customers’ technological innovations today and into the future.”
Vantage’s environmental sustainability goals and activities align with those of its hyperscale, cloud and large enterprise customers, as well as its investors, including DigitalBridge, which have made similar climate and environmental commitments across their respective companies.
“We view implementing Net Zero 2030 as both a business and an ethical imperative for our firm and for all of our portfolio companies,” said Marc Ganzi, chief executive officer, DigitalBridge. “We are proud that Vantage is leading from the front and committing to this bold initiative.”
For more information about Vantage’s sustainability commitments, please visit www.vantage-dc.com/features/sustainability.
About Vantage Data Centers
Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across six markets in North America and six markets in Europe, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.
For more information, visit www.vantage-dc.com
Press Contacts
Mark Freeman
Vantage Data Centers
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+1 202-680-4243
Ben Stanton
REQ for Vantage Data Centers
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+1 703-287-7800
HOUSTON--(BUSINESS WIRE)--SANDRIDGE PERMIAN TRUST (OTC Pink: PERS) today announced a distribution of approximately $9.5 million, or $0.182 per unit. This amount reflects (a) the distribution for the three-month period ended June 30, 2021 (which primarily relates to production attributable to the Trust’s royalty interests from March 1, 2021 to May 31, 2021) of approximately $0.4 million, (b) approximately $3.5 million (reflecting payments to the Trust of approximately $0.3 million and approximately $3.2 million) representing payment in full of the remaining unpaid portion of the amount Avalon Energy, LLC (“Avalon”) owed to the Trust relating to the three-month period ended March 31, 2020 (which primarily related to production attributable to the Trust’s royalty interests from December 1, 2019 to February 29, 2020 (the “May 2020 Quarterly Payment”), including accrued interest, and (c) the approximately $5.6 million of net proceeds received from the sale of the Trust’s assets to Montare Resources I, LLC (“Montare”) on June 18, 2021. The distribution is expected to occur on or before August 27, 2021 to holders of record as of the close of business on August 13, 2021.
As the Trust sold its remaining assets to Montare effective July 1, 2021, there will be no further income received by the Trust from oil and gas production. Cash reserves remaining after the distribution on or before August 27, 2021 will be used by the Trustee to complete the winding up process of the Trust, which includes the preparation and filing of a Form 10-Q for the period ended June 30, 2021, the filing of a Form 15 with the Securities and Exchange Commission (“SEC”) to deregister the Trust as a reporting company, notification to the OTC Markets Group of the Trust’s deregistration with the SEC and notice to stop trading of the Trust’s common units, and preparation and issuance of Forms K-1 for all holders of Common Units. If any cash reserves remain following the payment of the Trust’s estimated remaining expenses and liabilities, the Trustee will make a final distribution to unitholders of such amount. The Trust will remain in existence until the winding up process is completed, after which the Trustee will file a certificate of cancellation with the Secretary of State of the State of Delaware.
The Trust owned Royalty Interests in oil and natural gas properties and was entitled to receive proceeds from the sale of production attributable to the Royalty Interests up to June 1, 2021. As described in the Trust’s filings with the SEC, the amount of the quarterly distributions fluctuated from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil, natural gas and natural gas liquids prices, and the amount and timing of the Trust’s administrative expenses, among other factors. All Trust unitholders share distributions on a pro rata basis.
During the three-month production period ended May 31, 2021, combined sales volumes were slightly higher than the previous period. In addition there was a material increase in the average price of oil during the production period as compared to the three-month production period ended February 28, 2021.
Volumes, average prices and distributable income available to unitholders for the three-month period ended June 30, 2021 are presented below (dollars in thousands, except average prices and per unit):
Sales Volumes |
|
|
|
|
Oil (MBbl) |
|
|
12 |
|
Natural Gas Liquids (MBbl) |
|
|
1 |
|
Natural Gas (MMcf) |
|
|
4 |
|
Combined (MBoe) |
|
|
14 |
|
Average Price |
|
|
|
|
Oil (per Bbl) |
|
$ |
61.48 |
|
Natural Gas Liquids (per Bbl) |
|
$ |
27.35 |
|
Natural Gas (per Mcf) |
|
$ |
2.17 |
|
Natural Gas (per Mcf) including impact of post-production expenses |
|
$ |
1.91 |
|
Royalty income |
|
$ |
797 |
|
Expenses |
|
|
(417) |
|
Distributable income |
|
|
380 |
|
Company Distribution Amount(1) |
|
|
368 |
|
Payment of May 2020 Quarterly Payment(2) |
|
|
3,160 |
|
Proceeds from sale of Trust assets |
|
|
6,000 |
|
Expenses of sale of Trust assets |
|
|
(375) |
|
Distributable income available to unitholders |
|
$ |
9,533 |
|
Distributable income per unit (52,500,000 units issued and outstanding) |
|
$ |
0.182 |
|
(1) Represents the deposit of Avalon’s portion of the May 2021 distribution to Trust unitholders, pursuant to the Repayment Agreement dated as of March 1, 2021 between Avalon and the Trust.
|
|
|||
(2) Represents the payment by Montare of the remaining unpaid portion of the missed May 2020 Quarterly Payment, together with accrued interest, as disclosed in the Trust’s Current Report on Form 8-K dated June 18, 2021. |
|
|||
Pursuant to Internal Revenue Code Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to non-U.S. persons (“ECI”) should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to non-U.S. persons should be made at a 30% rate unless the rate is reduced by treaty. This is intended to be a qualified notice by SandRidge Permian Trust to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b), and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold at the highest marginal rate on the distribution made to non-U.S. persons. The Tax Cuts and Jobs Act (the “TCJA”) enacted in December 2017 treats a non-U.S. holder’s gain on the sale of Trust units as ECI to the extent such holder would have had ECI if the Trust had sold all of its assets at fair market value on the date of the sale of such Trust units. The TCJA also requires a transferee of Trust units to withhold 10% of the amount realized on the sale or exchange of such units (generally, the purchase price) unless the transferor certifies that it is not a non-resident alien individual or foreign corporation or another exception is available. Pursuant to final Treasury Regulations issued on October 7, 2020, this new withholding obligation will become applicable to transfers of units in publicly traded partnerships such as the Trust (which is classified as a partnership for federal and state income tax purposes) occurring on or after January 1, 2022.
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of this provision. These forward-looking statements include the amount and date of any anticipated distribution to unitholders; the amount and date of any future distributions to unitholders of the Trust; expectations regarding the timing of the winding up of the Trust, including the cancellation of the Trust units; and statements regarding the possibility of future distributions to unitholders during the winding up period. Statements made in this press release are qualified by the cautionary statements made above. Neither Avalon nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in common units issued by the Trust is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, and all of its other filings with the SEC. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
SandRidge Permian Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that Detmar Logistics LLC has executed a reservation agreement covering 300 Hypertruck ERX™ systems. The agreement is part of Hyliion’s latest collaboration with the Texas-based frac sand solutions provider, whose reservation marks the next step in their continued effort to fully electrify their fleet over the next five years. Detmar is actively expanding their fleet operations and sees Hyliion’s Hypertruck ERX™ as an enabling technology to accelerate their growth.
The Hypertruck ERX™ is an electric powertrain that is recharged by an onboard natural gas generator for Class 8 commercial trucks that aims to provide lower operating costs, emissions reductions, and superior performance. Utilizing the 700+ commercial natural gas vehicle filling stations across North America, it enables long range and quick refueling, and when fueled with renewable natural gas, can provide net-negative carbon emissions to commercial fleets.
An early adopter of electrification in the oil and gas industry, Detmar placed an initial order of 10 Hyliion Hybrid Electric units earlier this spring. The successful program and deployment—met with positive feedback from Detmar’s operations team, drivers, and customers—generated further interest in the Hypertruck ERX™ solution and a longer-term commercial relationship with Hyliion.
“We are thrilled to add another chapter to a growing relationship with a business that shares our vision for reducing carbon emissions in the commercial transportation industry. Detmar is setting the pace with their commitment to alternative fuels and their readiness to power their entire fleet with low emission solutions,” said Thomas Healy, Founder and CEO of Hyliion.
“The demand for the Hypertruck ERX™ is continuing to expand, especially from companies who are already operating our hybrid systems and are actively growing the size of their fleets. Hyliion’s technology offers practical solutions that empower fleets to make environmentally conscious decisions, while realizing superior performance, lower operating costs and flexibility,” Healy added.
“We are very excited for the opportunity to reserve a large order of Hypertruck ERX™ units and be one of the first trucking companies to define our path to full electrification in a bold way. Hyliion has been an exceptional partner as we’ve converted our trucks to their diesel hybrid system, and the positive feedback we’ve received from our customers is only matched by their interest in achieving net-negative carbon emissions with RNG. It’s certainly opening new doors for our business,” said Matt Detmar, President and CEO of Detmar Logistics.
“Our drivers are also eager to get behind the wheel of this new technology. They’ve had an outstanding experience with the hybrid trucks and their anticipation for the Hypertruck ERX™ is even greater,” Detmar concluded.
Hyliion will begin showcasing the Hypertruck ERX™ demonstration units to the Detmar team in late 2021, with trials running in 2022. The purchase and sale of the 300 Hypertruck ERX™ units is subject to the execution of a final agreement between Hyliion and Detmar. In April, Hyliion announced a first of its kind Hypertruck Innovation Council with leading companies that will test and provide feedback on the Hypertruck ERX™.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2021 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2021 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on May 17, 2021 for the year ended December 31, 2020. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Ryann Malone
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(833) 495-4466
OKLAHOMA CITY--(BUSINESS WIRE)--Enable Midstream Partners, LP (NYSE: ENBL) announced that the board of directors of its general partner declared today a quarterly cash distribution of $0.16525 per unit on all outstanding common units for the quarter ended June 30, 2021. The distribution is unchanged from the previous quarter. The quarterly cash distribution of $0.16525 per unit on all outstanding common units will be paid Aug. 24, 2021, to unitholders of record at the close of business Aug. 12, 2021.
Enable also announced today that the board declared a quarterly cash distribution of $0.5439 per unit on all Series A Preferred Units for the quarter ended June 30, 2021. The quarterly cash distribution of $0.5439 on all Series A Preferred Units outstanding will be paid Aug. 13, 2021, to unitholders of record at the close of business July 30, 2021.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 14,000 miles of natural gas, crude oil, condensate and produced water gathering pipelines, approximately 2.6 Bcf/d of natural gas processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50%), approximately 2,200 miles of intrastate pipelines and seven natural gas storage facilities comprising 84.5 billion cubic feet of storage capacity. For more information, visit https://enablemidstream.com.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of Enable’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Enable’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Brokers and nominees, and not Enable, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Media and Investor
Matt Beasley
(405) 558-4600
PLANO, Texas--(BUSINESS WIRE)--United Energy (OTCMKTS:UNRG):
United Energy announces a significant shareholder update in corporate direction for the remainder of 2021 and beyond. Embracing its pandemic resiliency while operating quietly throughout the past year, United Energy successfully transitioned its business model to meet the growing global energy demand. Over the last 12 months, UE experienced a change of control and began divesting of lesser performing, non-core assets and marginal oil producing leases. Simultaneously, UE began positioning itself to emerge from the past year as a more robust, diversified energy company. “We haven’t seen this level of excitement in the energy industry in a long time,” stated Brian Guinn, Chairman and CEO of United Energy Corporation. “Going forward, our energy assets will be diversified under three main categories: Exploration and Production, Technology, and Oil and Fuel Storage.”
Today, United Energy announces that the company has purchased a significant combination of assets in the Counties of Rogers, Nowata, Osage and Washington, Oklahoma as well as Montgomery Kansas. The purchases include operated and non-operated oil and gas leases in over 240,000 acres, including 2200+ wells and 1200 miles of natural gas pipelines. This investment represents a key step in UE’s effort to invest heavily in cleaner, more abundant and reliable forms of energy like Natural Gas. “With Natural Gas hitting $4 per mcf last Friday, July 23rd, we feel our timing is very ideal,” explained Rick Coody, COO of United Energy Corporation. UE will provide shareholder updates as it continues to evaluate the leases and their potential.
Additionally, United Energy is announcing it has purchased a minority ownership position in a planned oil and refined fuels storage terminal facility in Louisiana. The project, which hopes to break ground in 2022, will have an initial oil storage capacity of 6.8M barrels of oil and will serve as an important hub of oil transportation and storage to and from the Gulf of Mexico. UE has a desire to increase its involvement and investment in this space and will seriously consider it in the year ahead.
UE is currently evaluating exploration and development opportunities in North Dakota and Montana. “Our new corporate direction can be summed up in three words, Profitability, Responsibility, and Sustainability,” said Brian Guinn.
Media Contact:
Kimberly Stillwagon
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214-901-5453
Investor Contact:
Brian Guinn
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469-209-5829
LEAWOOD, KS--(BUSINESS WIRE)--This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding the distribution paid on July 30, 2021 and cumulative distribution paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distribution, payable July 30, 2021 and the cumulative distribution paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.
Tortoise Power and Energy Infrastructure Fund, Inc. |
|||||||||
|
|||||||||
Estimated Sources of Distributions |
|||||||||
|
($) Current
|
% Breakdown
|
($) Total Cumulative
|
% Breakdown of the
|
|||||
Net Investment Income |
0.0217 |
43 |
% |
0.1584 |
40 |
% |
|||
Net Realized Short-Term Capital Gains |
0.0007 |
1 |
% |
0.2416 |
60 |
% |
|||
Net Realized Long-Term Capital Gains |
0.0000 |
0 |
% |
0.0000 |
0 |
% |
|||
Return of Capital |
0.0276 |
56 |
% |
0.0000 |
0 |
% |
|||
Total (per common share) |
0.0500 |
100 |
% |
0.4000 |
100 |
% |
|||
|
|
|
|
||||||
|
|
|
|
||||||
| Average annual total return (in relation to NAV) for the 5 years ending on 6/30/2021 |
|
|
|
0.89 |
% |
||||
| Annualized current distribution rate expressed as a percentage of NAV as of 6/30/2021 |
|
|
|
3.74 |
% |
||||
|
|
|
|
||||||
| Cumulative total return (in relation to NAV) for the fiscal year through 6/30/2021 |
|
|
|
26.89 |
% |
||||
| Cumulative fiscal year distributions as a percentage of NAV as of 6/30/2021 |
|
|
|
2.49 |
% |
||||
You should not draw any conclusions about TPZ’s investment performance from the amount of this distribution or from the terms of TPZ’s distribution policies.
TPZ estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TPZ is paid back to you. A return of capital distribution does not necessarily reflect TPZ’s investment performance and should not be confused with "yield" or "income."
The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Tortoise Capital Advisors is the Adviser to the Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on these funds, please visit cef.tortoiseecofin.com.
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseEcofin.com.
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 Tortoise Capital Advisors 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 Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
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.
Maggie Zastrow, (913) 981-1020
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WASHINGTON--(BUSINESS WIRE)--Summit Oil and Shipping Co. Ltd. (“SOSCL”), the first and largest private sector importer and supplier of fuel oil to Bangladesh, announced today that it has signed a Memorandum of Understanding (MOU) with Commonwealth LNG to collaborate in the supply of LNG to Asia, including Bangladesh. SOSCL is part of the Summit Group, Bangladesh’s largest infrastructure conglomerate.
The scope of the MOU includes SOSCL potentially contracting for 1 million tons per year (MTPA) of LNG offtake, for a term of up to 20 years, from Commonwealth’s 8.4 MTPA facility currently under development in Cameron, Louisiana.
SOSCL’s associated companies within Summit Group have approximately 3 GW of gas-to-power electricity in operation or development within the Indian subcontinent, and operate a 500 mmcf/d Floating Storage and Regasification Unit (FSRU) and LNG terminal under Summit LNG Terminal Co (Pvt) Ltd (“SLNG”) in Moheshkhali, Cox’s Bazar, Bangladesh.
“We’re proud of what this step means towards securing this major source of clean energy for the growing economy of Bangladesh,” said Farid Khan, Vice Chairman of Summit Group. “We look forward to having Commonwealth LNG as a partner that can deliver U.S.-sourced LNG, providing diversification of supply for Bangladesh and the pricing stability associated with Henry Hub.”
From Commonwealth LNG’s perspective, President and CEO Paul Varello said the MOU is evidence of just how aligned the parties are in achieving their shared objectives.
“Commonwealth’s focus on producing the lowest-cost liquefaction in the U.S. remains important in a highly competitive global market,” said Varello. “This becomes even more critical for a rapidly emerging economy such as Bangladesh where the need for additional energy is critical for sustaining its economic growth. Summit has recognized that need and Commonwealth LNG looks forward to partnering in these efforts.”
Commonwealth is implementing an accelerated construction schedule that will allow the project to be built in three years using a predominantly modular approach with major components being fabricated offsite.
About Commonwealth LNG
Commonwealth LNG is an 8.4 MTPA liquefied natural gas (LNG) export terminal project located on the Calcasieu River at the Gulf of Mexico near Cameron, Louisiana. The project’s leadership team is committed to building a world-class LNG facility by staying relentlessly focused on managing risk and lowering capital cost.
Website: www.CommonwealthLNG.com
Linkedin: https://www.linkedin.com/company/commonwealth-lng/
About Summit Oil and Shipping Company Limited
Incorporated in 1998, Summit Oil & Shipping Co. Ltd. (“SOSCL”) is a leading private sector company in Bangladesh engaged in shipping, trading, importing, storing and supplying of fuel oil to the nation’s power generation sector.
Website: www.SOSCL.net
Facebook: https://www.facebook.com/SummitOilShipping
Media Inquiries:
Commonwealth LNG
Lyle Hanna
Director of Communications
Ph: 346-352-4436
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Summit Corporation Limited
Mohsena Hassan
Head of Public Relations & Media
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RUEIL-MALMAISON, France--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, published today its half-year progress overview on setting up and advancing on its 2021-2025 sustainability impact targets. Schneider Electric, named as the world’s most sustainable corporation 2021 by the Corporate Knights Global 100 Index, announced the acceleration of its sustainability strategy in January, aligned to its commitments regarding climate, resources, trust, equal opportunities, generations, and local communities.
Since then, the Group has successfully launched The Zero Carbon Project, its initiative to halve carbon emissions of its top supply chain partners by 2025, a call to action already joined by 91% of them. By engaging, training, and supporting the sustainable transformation of each of its 1,000 partners, the Group will sharply reduce its Scope 3 emissions. 917 suppliers have now been trained and are ready to drive climate action as part of this project.
As the digital partner for efficiency and sustainability, Schneider Electric also continues to support its customers in attaining their own sustainability goals, with digital innovation and solutions. The Roca Group has recently opted for Schneider Electric's climate change consulting services to accelerate their transformation. Since 2018, Schneider has helped its customers save and avoid 302 million tons of CO2 emissions.
“A successful sustainability program can only be built on trust and engagement.” said Olivier Blum, Schneider Electric’s Chief Strategy and Sustainability Officer. “It’s very encouraging to see such a high-level mobilization from our supply chain partners in our decarbonization journey, as well as that of our customers and employees – all of whom count on our unique expertise and experience in this field.”
With regards to local initiatives, 100% of Schneider Electric’s country and zone presidents have identified and established all their local targets for 2025, confirming strong engagement and commitment from around the globe to deliver always more meaningful sustainability impact.
Find out more on Schneider Sustainability Impact, results and highlights:
Schneider Electric’s Environmental, Social and Governance (ESG):
Latest Schneider Electric’s Sustainability awards and rankings:
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags: #LifeIsOn #Sustainability #SRI #OurImpact
Schneider Electric Media Relations
Sophie Souquet
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And annual expenditures with diverse suppliers increased 41 percent over the five-year period
CHICAGO--(BUSINESS WIRE)--Exelon spent $11.2 billion with diverse-certified suppliers across its enterprise from 2016-2020, while Exelon’s 2020 $2.7 billion spend alone supported 19,967 jobs and generated an incremental $3.6 billion in revenue and $1.1 billion in wages for local businesses in communities the company serves. These and other findings are included in the 2020 Exelon Diverse Business Empowerment (EDBE) Annual Report. The expenditures spanned the entire business, including Exelon’s six electric and gas utilities, Exelon Generation and Constellation.
“One of the best ways we can support diversity is to ensure that our dollars are spent with businesses that reflect the diversity we see in the communities we serve,” said Bridget Reidy, executive vice president and COO, Exelon, “We strive to apply these same ideals in everything we do, from how we build our workforce to the investments we make in nonprofit organizations across our service territories. It’s not just the right thing to do, but it also makes us a better, stronger and more responsive company.”
Exelon operates in some of the nation’s largest and most ethnically diverse metropolitan areas, including Baltimore, Chicago, Washington, D.C., and Philadelphia.
Some additional information about Exelon’s diverse spend from the 2020 Supplier Diversity Report:
Click here to access the full 2020 Exelon Diverse Business Empowerment (EDBE) Report.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
Liz Keating
Corporate Communications
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Company Has Reached Civil Settlements with Shasta County and Continues to Work to Settle Additional Civil Cases
PG&E CEO Says Company Committed to Making Profound Changes to Keep Customers and Communities Safe
SAN FRANCISCO,--(BUSINESS WIRE)--PG&E Corporation (NYSE: PCG) shared the following statements today in regard to the announcement by the Shasta County District Attorney’s office that it will file criminal charges against PG&E related to the 2020 Zogg Fire.
“The loss of life and devastation in the communities impacted by the 2020 Zogg Fire is heartbreaking, and we recognize that nothing can heal the hearts of those who have lost so much. We thank the courageous first responders who saved lives, protected property and worked to contain and put out the fire last year.
The company already has resolved civil claims with Shasta County and continues to reach settlements with individual victims and their families impacted by the Zogg Fire in an effort to make it right. We do not, however, agree with the District Attorney’s conclusion that criminal charges are warranted given the facts of this case.
We remain committed to doing everything we can to keep our customers and communities safe.”
PG&E Corporation Chief Executive Officer Patti Poppe said, “I came to PG&E earlier this year to ensure that we make it right for those who have been impacted, and make it safe for the communities we are privileged to serve. We have taken a safety stand that everyone and everything is always safe, and we are determined to deliver on that promise.”
New Undergrounding Initiative: Make It Safe/Bury the Lines
PG&E recently announced a major new initiative to expand the undergrounding of electric distribution power lines in High Fire Threat Districts (HFTD) to further harden its system and help prevent wildfires. The new infrastructure safety initiative is a multi-year effort to underground approximately 10,000 miles of power lines.
PG&E’s Commitment to Wildfire Safety
PG&E’s multi-faceted Community Wildfire Safety Program (CWSP) includes short-, medium- and long-term action plans to further reduce wildfire risk and keep our customers and communities safe.
Since 2018, its wildfire safety work has resulted in:
Ongoing PG&E Wildfire Mitigation and Resiliency Efforts
In addition to significantly expanding its undergrounding, PG&E’s ongoing safety work to enhance grid resilience and address the growing threat of severe weather and wildfires continues on a risk-based and data-driven basis, as outlined in PG&E's 2021 Wildfire Mitigation Plan (WMP).
This includes:
Learn more about PG&E’s wildfire safety efforts by visiting pge.com/wildfiresafety.
About PG&E Corporation
(NYSE: PCG) is the parent company of Pacific Gas and Electric Company, a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pgecorp.com.
Investor Relations Contact: 415.972.7080 | Media Inquiries Contact: 415.973.5930
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