TULSA, Okla.--(BUSINESS WIRE)--Tulsa-based Citizen Energy announced that it has entered into a definitive Purchase and Sale Agreement with an undisclosed seller.
The Purchase and Sale Agreement provides that Citizen will acquire ~8,000 BOEPD of production (58% gas and 25% NGLs), 97 operated wells, 400 non-op wells and 28,000 net acres (94% HBP) which lies largely within Citizen’s existing footprint. The contiguous nature of the acquisition provides an ideal opportunity for infrastructure connectivity and development continuity. The acquisition will have a July 1, 2021 effective date.
Pro forma for the acquisition, Citizen will have net daily production of ~74,000 BOEPD, interests in over 1,700 wells and over 230,000 net acres across the Mid-Continent. A headline purchase price of $153MM will be funded entirely out of existing liquidity within Citizen’s RBL facility, which was upsized to $850MM prior to the transaction. Citizen expects the acquisition to be accretive to shareholder returns and crucial to building and maintaining its momentum as the largest private operator in Oklahoma.
Closing is expected to occur in the fourth quarter of 2021 and is subject to customary conditions and purchase price adjustments.
Schaper Energy Consulting acted as technical advisor and Shearman & Sterling served as legal counsel for Citizen Energy on the transaction.
Bryan Hawkins
918-949-4680
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DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced that its Billingham Complex in the United Kingdom will continue to operate through at least January 2022 after its UK subsidiary reached carbon dioxide (CO2) pricing and offtake agreements with its industrial gas customers in the country.
The agreements between the UK subsidiary and its industrial gas customers run through the end of January 2022. During this period, it is expected that the UK government and industrial gas customers will develop robust alternative sources of CO2 as part of a long-term solution for meeting demand in the country. The Billingham Complex is capable of producing 750 tonnes of CO2 per day for commercial use as a byproduct of the ammonia production process.
“We are pleased to have reached a commercial solution that enables the Billingham Complex to continue to operate through January, alleviating near-term CO2 supply concerns in the UK,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “We want to thank The Honorable Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy, his staff and our industrial gas customers for the speed and spirit of cooperation that have marked our discussions over the past three weeks. We look forward to working with them in the future as they develop a longer-term solution to CO2 supply and to support sustainable and competitive UK ammonia and fertilizer production.”
CF Industries’ Ince Complex in Chester, UK, will remain offline. The Company does not have an estimate for when production will resume at the facility.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
Media
Chris Close
Director, Corporate Communications
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Investors
Martin Jarosick
Vice President, Investor Relations
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Richard Palmer, President & CEO
LOS ANGELES--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQX: GCEH) has issued its Proxy Statement and Annual Report for its November 17, 2022 annual meeting of stockholders. The Annual Report contained the following Letter to Shareholders that provided shareholders with an update on GCEH’s vertically integrated Farm-to-Fuel businesses, including the status of the renovation of its renewable diesel refinery in Bakersfield, California.
President’s Letter to Shareholders
As we prepare for our annual shareholders meeting this fall, I wanted to send this letter to all of our shareholders to provide you with an update on our progress. Our team, which is now approaching 100 members, is working tirelessly to achieve our goal of building a truly integrated biofuels value chain business. Our Farm-to-Fuels strategy is well underway as we continue to invest in assets and people in our Upstream, Midstream, and Downstream businesses.
I would like to take this opportunity to publicly welcome all of our new employees and new board members to the GCEH organization and thank our entire team for their outstanding work. To achieve great things, you need great people… and we continue to be extremely fortunate to attract incredible talent. Our team possesses world class experience and creativity, which translates into positive energy and a passion for our overall mission, strategy and goals.
Since my last update, we have made significant progress in moving our Upstream, Midstream, and Downstream businesses along, as well as progressing our corporate goal of uplisting our stock to a national exchange.
GCEH – Our progress includes moving our public listing up to OTC Markets’ highest listing level, the OTCQX Best Market, which is two levels higher than last year. We have pre-filed an application with Nasdaq, and our goal is to be listed on Nasdaq by the year’s end. To be prepared for Nasdaq and to position the company for significant near-term growth, we have put in place several key items:
Upstream – Sustainable Oils – This year, we have been busy developing both our Camelina plant genetics and our grower relationships, including the following:
Plant genetics – We have expanded our plant genetics portfolio and capabilities with the acquisition of Agribody Technologies, Inc. (ATI), an agricultural biotechnology company. The intellectual property (IP) we acquired in our purchase of ATI includes key patents that can improve Camelina yield and stress tolerance.
New Camelina Varieties – This year we applied for seven new Camelina patents and submitted six plant variety protection applications. We planted large commercial test acreage of these new Camelina varieties to demonstrate their commercial viability to our existing and expanding farmer base. These additional varieties will significantly expand our unique Camelina IP portfolio.
Grower/Farmer Deployment – We have entered into strategic relationships with several farmer cooperatives and other large agriculture-based entities to expand the grower adoption of Camelina through their existing grower networks in Montana, Kansas, Colorado and Washington. We will also continue to grow and expand Camelina production through third-party farmers in Idaho and Oregon.
Expanded Facilities – We are in the process of relocating Sustainable Oils’ North American headquarters to Great Falls, Montana. This relocation includes moving to a new state-of-the-art facility, as well as expanding our technical and commercial staff. The new, world-class facility is strategically located in the southern part of the “Golden Triangle” farming region of Montana. Our expanded team of highly experienced geneticists, breeders, agronomists, and commercial crop managers significantly increases our capacity for supporting our grower network. The expanded facility in Montana includes additional technical and commercial capabilities with the ability to support our large-scale acreage expansion of commercial Camelina production in the region.
Midstream – We are expanding the midstream segment of our operations to provide grain aggregation, processing, and transportation capabilities for our Camelina growers. To support our expansion in Montana, we are developing three grain aggregation sites that are co-located with an existing cooperative’s assets, CHS Inc., in the region. When completed, the new aggregation assets will leverage the resources of the cooperative to optimize our combined processing and handling of product at the facilities. Our goal is to be fully operational at our first site by the fall 2022 harvest.
Downstream – Bakersfield Renewable Fuels – Our downstream refinery business, which is anchored by our biorefinery in Bakersfield, CA, is on track to be fully operational in the first quarter of 2022. We remain focused on completing construction and are preparing to start-up our refinery operations in the coming months. We have continued to expand our relationships with the signing of a term purchase agreement with ExxonMobil for the commercialization of our ultra-low carbon feedstock supply and renewable diesel produced in Bakersfield. Our progress towards becoming the leading, lowest cost domestic producer of ultra-low carbon renewable fuels is accelerating. The integrated Farm-to-Fuels value chain strategy differentiates us from other renewable fuel producers, both domestically and worldwide.
In order to provide our shareholders with additional information regarding our business and operations, we have added our first Corporate Presentation to our website. We hope that the Corporate Presentation provides you with additional information about our business strategy and unique industry position, as well as other general information about us. www.gceholdings.com/presentations.
In closing, we are expanding our strategic relationships with world class entities, such as ExxonMobil and CHS. Together, we continue our pursuit of producing non-food-based feedstocks and advancing toward our goal of “net zero” emissions fuels.
We always appreciate the continued support you have placed with our Board of Directors' vision and in our management team.
Again, as always, thank you all…Watch us grow!!!
Warmest Regards,
Richard Palmer
President & Chief Executive Officer
Global Clean Energy Holdings, Inc.
Natalie Findlay
(424) 318-3518
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil plans to build its first, large-scale plastic waste advanced recycling facility in Baytown, Texas, and is expected to start operations by year-end 2022.
By recycling plastic waste back into raw materials that can be used to make plastic and other valuable products, the technology could help address the challenge of plastic waste in the environment. A smaller, temporary facility, is already operational and producing commercial volumes of certified circular polymers that will be marketed by the end of this year to meet growing demand.
“We’ve proven our proprietary advanced recycling technology in Baytown, and we’re scaling up operations to supply certified circular polymers by year-end,” said Karen McKee, president of ExxonMobil Chemical Company. “Availability of reliable advanced recycling capacity will play an important role in helping address plastic waste in the environment, and we are evaluating wide-scale deployment in other locations around the world.”
The new facility follows validation of ExxonMobil’s initial trial of its proprietary process for converting plastic waste into raw materials. To date, the trial has successfully recycled more than 1,000 metric tons of plastic waste, the equivalent of 200 million grocery bags, and has demonstrated the capability of processing 50 metric tons per day.
Upon completion of the large-scale facility, the operation in Baytown will be among North America’s largest plastic waste recycling facilities and will have an initial planned capacity to recycle 30,000 metric tons of plastic waste per year. Operational capacity could be expanded quickly if effective policy and regulations that recognize the lifecycle benefits of advanced recycling are implemented for residential and industrial plastic waste collection and sorting systems.
ExxonMobil is developing plans to build approximately 500,000 metric tons of advanced recycling capacity globally over the next five years. In Europe, the company is collaborating with Plastic Energy on an advanced recycling plant in Notre Dame de Gravenchon, France, which is expected to process 25,000 metric tons of plastic waste per year when it starts up in 2023, with the potential for further expansion to 33,000 metric tons of annual capacity.
The company is also assessing sites in the Netherlands, the U.S. Gulf Coast, Canada, and Singapore.
To meet customer demand for circular polymers, ExxonMobil has obtained certifications through the International Sustainability and Carbon Certification Plus (ISCC Plus) process for several of its facilities. ISCC Plus is widely recognized by industry as an effective system to certify products that result from advanced recycling using mass balance attribution of plastic waste.
To help address the need for increased collection and sorting of plastic waste, ExxonMobil formed a joint venture with Agilyx Corporation, Cyclyx International LLC, focused on developing innovative solutions for aggregating and pre-processing large volumes of plastic waste that can be converted into feedstocks for valuable products. Cyclyx will help supply ExxonMobil’s advanced recycling projects, and will aim to do the same for other customers.
ExxonMobil is a founding member of the Alliance to End Plastic Waste, which is focused on accelerating investment in safe, scalable and economically viable solutions to help address the challenge of plastic waste in the environment through a portfolio of projects that has grown to more than 30 ongoing projects across several countries.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn.
Cautionary Statement: Statements of future events, investment opportunities or conditions in this release are forward-looking statements. Actual future results, including project plans, timing, capacities, and costs and recycled waste volumes could vary depending on the ability to execute operational objectives on a timely and successful basis; the ability to scale projects and technologies on a commercially competitive; the outcome of future research and technology development programs, including the future success of collaborative efforts; the development and pace of supportive market conditions and policies including support for waste collection and sorting and advanced recycling; changes in laws and regulations including environmental laws and taxes; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
ExxonMobil Media Relations:
(972) 940-6007
DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced its plans to release financial results for the third quarter 2021 on Monday, November 8, 2021, after market close. A copy of the Company’s press release will be available on the Primoris website at www.primoriscorp.com.
Management will host a conference call and webcast on Tuesday, November 9, 2021, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the Company’s third quarter 2021 results and update its financial outlook. Prepared remarks by Tom McCormick, President and Chief Executive Officer, and Ken Dodgen, Chief Financial Officer, will be followed by a question and answer session.
Interested parties are invited to dial-in using 1-833-476-0954, or internationally at 1-236-714-2611, using access code: 4449678, or by asking for the Primoris conference call. The conference call will also be made available through a webcast in the Investor Relations portion of the Company’s website.
A replay of the conference call will be available Tuesday, November 9, 2021, beginning at 5:00 p.m. U.S. Central Time for seven days. The phone number for the conference call replay is 1-800-585-8367 or, for calls from outside the U.S., 1-416-621-4642, using access code: 4449678. The replay of the webcast will also be available on the Company’s website following the end of the live call.
ABOUT PRIMORIS
Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, electrical transmission and distribution systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.primoriscorp.com
Brook Wootton
Vice President, Investor Relations
Primoris Services Corporation, 214-545-6773
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ORLANDO, Fla.--(BUSINESS WIRE)--Siemens Energy announced today the successful delivery and installation of three single phase Pretact® GSU Sensformer™ transformers that were deployed to provide a solution in response to a failed conventional transformer at a combined cycle power plant.
The Pretact transformers are designed to serve as replacement equipment in the event of transformer outages. These are multi-voltage, modular transformers that can be deployed anywhere and configured to match customer requirements using biodegradable insulating fluids that reduce environmental risks during transport and operation. They also offer smart technology that transmits real-time data to a cloud-based storage, analytics and visualization platform to allow for performance optimization.
Siemens Energy is leasing the transformers to the facility, which made it possible for the power plant to return to service in less than two months from a forced outage caused by a failure of their existing, conventional GSU transformer. The Pretact Sensformers will be in service until Siemens Energy delivers a new, permanent replacement transformer. The project is part of the Pretact transformer program that aims for rapid deployment of equipment to minimize outage times.
Society depends on reliable electricity, as long-term power interruptions can have disastrous consequences. Siemens Energy is focused on improving grid resiliency by offering mobile plug-and-play units that can quickly restore power after a failure at either a substation or generating facility or to avoid disruptions during grid maintenance and upgrades. Compared to conventional transformer replacements, which might not be available for 9 to 12 months after an outage, the easy-to-install Pretact technology allows for rapid reinforcement of a power grid in an emergency or due to unexpected events, as well as during seasonal peak loads or when networks expand.
Wade Lauer, senior vice president of Siemens Energy’s Transmission division in North America said, “This is the first time a multi-voltage GSU has been leased to customers as a flexible transformer replacement option. Being able to rapidly deploy innovative replacement equipment is key to enhancing grid resiliency here in the U.S. so that we can help our customers keep the lights on.”
Scott Gray, operations manager for Siemens Energy Transformers USA said, “Upon notification of the failure the Siemens Energy team was able to confirm a technical match, negotiate terms, mobilize to the storage location, and prepare the units for shipment within 2-1/2 weeks. The equipment was delivered to the customer site the next week, and was fully assembled, oil filled and tested in less than two weeks from mobilization to site.”
This press release and a press picture / press pictures / further material is available at www.siemens‑energy.com/press
For further information on Pretact® transformers, please see https://www.siemens-energy.com/global/en/offerings/power-transmission/portfolio/transformers.html
Follow us on Twitter at: www.twitter.com/siemens_energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
Siemens Energy is a trademark licensed by Siemens AG.
Stacia Licona
Phone: +1 (281)-721-3402
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Enhanced System Reduces Emissions
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that ultra-deepwater drillship VALARIS DS-12 has become the first vessel in the world to receive the ABS Enhanced Electrical System Notation EHS-E.
Valaris upgraded the vessel’s electrical system to secure the notation, which recognizes sophisticated system design to improve reliability and enhance protection. The Valaris electrical system is specifically designed to allow the drillship to optimize powerplant performance, enabling operations on fewer generators and reducing emissions.
“With this enhanced notation, VALARIS DS-12 exemplifies our company’s purpose of providing responsible solutions that deliver energy to the world. I want to recognize our engineers, our partner ABS and thank our customer BP, for their support. This is truly a remarkable team achievement that paves the way to more sustainable deepwater drilling,” said Valaris Senior Vice President and Chief Operating Officer Gilles Luca.
“It is great to see Valaris become the first to secure this notation, which recognizes their commitment to sustainable operations and investment in advanced electrical systems to increase efficiency. As the world’s leading global offshore Class, ABS is well placed to help forward thinking operators such as Valaris achieve next generation operations,” said Matt Tremblay, ABS Vice President, Global Offshore.
ABS has surveyed the upgraded system and tested it to ensure it can operate on reduced generator power. The short circuit and fault ride through capability was demonstrated on board the vessel with ABS in attendance.
The EHS-E notation was introduced in the ABS Guide for Dynamic Positioning Systems in October 2021. A copy of the guide can be downloaded here.
About Valaris
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
About ABS
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.
Cautionary Statements
Statements contained in this press release, as well as materials or websites that are cross-referenced, that are not historical facts are 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. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words and specifically include statements that are aspirational or reflective of our views about future performance and our expectations, plans, or goals related to corporate responsibility, sustainability and environmental matters, employees, policy, business, procurement and other risks and opportunities. Forward-looking statements are aspirational and are not guarantees or promises that such expectations, plans, or goals will be met. Such historical, current, and forward-looking sustainability-related statements are based on currently available information and assumptions, as well as standards for measuring progress that are still in development and internal controls and processes that continue to evolve. They are also subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated. In addition to the factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking or other statements, except as required by law and notwithstanding any historical practice of doing so.
Website references are provided for convenience only. The content on the referenced websites is not incorporated by reference into this document, nor does it constitute a part of this document. We assume no liability for any third-party content contained on the referenced websites.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today it will release financial results for the third quarter of 2021 on Thursday, November 4, 2021 after market close, followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific). President and Chief Executive Officer of Clean Energy Andrew J. Littlefair and Chief Financial Officer Robert M. Vreeland will host the call.
Investors interested in participating in the live call can dial 1.877.300.8521 from the U.S. and international callers can dial 1.412.317.6026. A telephone replay will be available approximately two hours after the call concludes through Saturday, December 4 by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 10160722.
There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
Robert M. Vreeland, CFO
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DUBLIN--(BUSINESS WIRE)--The "Submarine Power Cable Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2026" report has been added to ResearchAndMarkets.com's offering.
The report on the global submarine power cable market provides qualitative and quantitative analysis for the period from 2018 to 2026.
The report predicts the global submarine power cable market to grow with a CAGR of 14.2% over the forecast period from 2020-2026. The study on submarine power cable market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2018 to 2026.
The report on submarine power cable market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global submarine power cable market over the period of 2018 to 2026. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global submarine power cable market over the period of 2018 to 2026. Furthermore, the Growth Matrix provided in the report brings an insight into the investment areas that existing or new market players can consider.
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the submarine power cable market.
2. Complete coverage of all the segments in the submarine power cable market to analyze the trends, developments in the global market and forecast of market size up to 2026.
3. Comprehensive analysis of the companies operating in the global submarine power cable market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Publisher's Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Market Dynamics
Drivers
Restraints
Opportunities
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/k07bvf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today it has entered into a definitive agreement to acquire oil and gas assets in the Eagle Ford from two sellers.
Acquisition Highlights:
MANAGEMENT COMMENTS
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “This acquisition meaningfully increases SilverBow’s oil production and furthers our Eagle Ford and Austin Chalk consolidation efforts while maintaining a balanced oil and gas portfolio. This represents our third acquisition since the beginning of August and the largest to date for SilverBow. This transaction bolsters our inventory with high rate of return locations and provides us with development optionality as we plan for 2022 and beyond. The acquisition is accretive to Adjusted EBITDA and further reduces our pro forma leverage ratio(2) given the incremental cash flow. As we have shown over time, we expect to continue driving our peer-leading capital efficiency and cost structure as these assets are combined with our existing portfolio.”
Mr. Woolverton commented further, “Today’s announcement is a testament to the extensive work we have done evaluating opportunities and executing our in-basin consolidation plan. Furthermore, SilverBow once again utilized a mix of both cash and stock to fund the purchase price. The use of equity has allowed us to access a larger opportunity set for strategic growth while aligning our interests with surrounding peer companies and other key stakeholders for accretive, long-term value creation. Including the pro forma contribution of our recent acquisitions, SilverBow is targeting a leverage ratio of 1.25x at year-end 2021. We plan to share additional details as part of our third quarter 2021 reporting in November.”
TRANSACTION DETAILS
The acquisition has an effective date of August 1, 2021 and is expected to close before year-end, subject to customary closing conditions. The total purchase price is approximately $75 million, consisting of $45 million in cash and the greater of (i) approximately 1.35 million shares of SilverBow common stock based on its 30-day volume weighted average price as of October 4, 2021 and (ii) the number of shares equal to $25 million divided by the 30-day volume weighted average price as of the first trading day preceding the closing date. SilverBow intends to fund the cash component and fees and expenses with cash on hand and borrowings under its revolving credit facility.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This 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. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.
(Footnotes)
1 2021E Adjusted EBITDA based on SilverBow management estimates utilizing NYMEX strip pricing as of September 30, 2021. As used in this news release Adjusted EBITDA is calculated as net income (loss) plus (less) depreciation, depletion and amortization, accretion of asset retirement obligations, interest expense, impairment of oil and natural gas properties, net losses (gains) on commodity derivative contracts, amounts collected (paid) for commodity derivative contracts held to settlement, income tax expense (benefit), and share-based compensation expense. A forward-looking estimate of net income (loss) is not provided with the forward-looking estimate of Adjusted EBITDA (a non-GAAP measure) because the items necessary to estimate net income (loss) are not accessible or estimable at this time without unreasonable efforts. Such items could have a significant impact on the Company's net income (loss).
2 Accretion is based on Adjusted EBITDA for Leverage Ratio for fiscal year 2021. Leverage ratio is defined as total long-term debt, before unamortized discounts, divided by Adjusted EBITDA for Leverage Ratio (a non-GAAP measure) for the trailing twelve-month period. Adjusted EBITDA for Leverage Ratio is calculated as Adjusted EBITDA plus amortization of derivative contracts, in accordance with the covenant compliance calculations under SilverBow's Credit Agreement. Neither Adjusted EBITDA nor Adjusted EBITDA for Leverage Ratio should be considered a replacement for the comparable GAAP measure.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
LONDON--(BUSINESS WIRE)--EO Charging (“EO”), a leading provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, has secured a landmark deal with Tesco to power its UK home delivery fleet of electric vans.
Tesco plans to have a fully electric delivery vehicle fleet by the end of 2028. This year, the business has already rolled out 30 electric vans, with plans in place for a further 150 in 2022.
As part of the first phase of the electrification programme, EO is supplying more than 200 AC fast chargers and 5 DC rapid chargers across five sites. The charging depots in Lakeside, Oxford, Glasgow (two sites) and Enfield will serve both day-to-day charging requirements as well as emergency cover in case of short turn-around times required for vehicles.
The partnership will see EO, whose fleet charging solutions are already used by some of the world’s leading corporations in the UK and Europe including Amazon, DHL, Go-Ahead and Uber, taking care of end-to-end electrification for Tesco. This includes upfront consultation to charging hardware, ongoing 24/7/365 support, maintenance, and onsite Service Level Agreement (SLA) for mission critical charging infrastructure.
Tesco’s charging infrastructure will be managed by EO Cloud – dedicated depot software that combines charge scheduling, site load management, vehicle telematics integration and energy data to reduce infrastructure installation costs and optimize fuel cost per vehicle.
Charlie Jardine, Founder & CEO at EO Charging, said:
“Tesco is one of the largest and most important businesses in the UK so it’s a privilege to play a part in its transition to electric vehicles as part of its decarbonisation strategy. Our focus is now to help the business optimise its fleet performance and provide round the clock support and ongoing maintenance of their charging infrastructure.”
EO recently executed an operations and management programme covering several thousand AC chargers at more than 50 sites across six countries for one of its clients. As part of the charging programme, EO resolved any Europe-wide on-site or remote issue in an average time of under three hours.
EO Charging recently announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
About EO
EO Charging (EO) is a leading technology solutions provider in the EV sector. EO designs and manufactures EV charging stations and hardware-agnostic cloud-based charge-point management software for fleets at its headquarters in the UK. EO also provides installation services and ongoing operations and maintenance services across its fleet customer base.
Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators, and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus, and car fleets.
EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.
Forward Looking Statements
The information in this press release includes "forward-looking statements". All statements, other than statements of present or historical fact included in this press release, regarding the proposed business combination between First Reserve Sustainable Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO Charging (“EO”), each of such parties’ ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's 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, 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, FRSG, the Company and EO disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. FRSG, the Company and EO caution 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 any of FRSG, the Company or EO. In addition, FRSG, the Company and EO caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the Business Combination Agreement and Plan of Reorganization, dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub Inc., EO and the Company, and the other agreements related to the business combination (including catastrophic events, acts of terrorism, the outbreak of war, COVID-19 and other public health events), as well as management’s response to any of the foregoing; (ii) the outcome of any legal proceedings that may be instituted against FRSG, the Company, EO, their affiliates or their respective directors and officers following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of FRSG, regulatory approvals, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts FRSG's or the Company's current plans and operations as a result of the announcement of the transactions; (v) the Company's and EO’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the pace and depth of EV adoption generally, and the ability of the Company to accurately estimate supply and demand for its EV charging products and services, and to grow and manage growth profitably following the business combination; (vi) risks relating to the uncertainty of the projected financial information with respect to the Company, including the conversion of pre-orders into binding orders; (vii) costs related to the business combination; (viii) changes in applicable laws or regulations, governmental incentives and fuel and energy prices; (ix) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (x) the amount of redemption requests by FRSG’s public stockholders; and (xi) such other factors affecting FRSG that are detailed from time to time in FRSG’s filings with the Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and its periodic filings with the SEC, including its Quarterly Report on Form 10-Q for quarterly period ended June 30, 2021. FRSG's SEC filings are available publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Stockholders
In connection with the proposed business combination, a registration statement on Form F-4 that includes a preliminary proxy statement/prospectus has been filed by EO with the SEC. After the registration statement is declared effective, the definitive proxy statement will be distributed to FRSG’s stockholders in connection with FRSG’s solicitation for proxies for the vote by FRSG’s stockholders in connection with the proposed business combination and other matters as described in the Form F-4, as well as a definitive prospectus of EO relating to the offer of the securities to be issued in connection with the completion of the business combination. Copies of the Form F-4 may be obtained free of charge at the SEC's website at www.sec.gov. FRSG’s stockholders are urged to read the preliminary proxy statement/prospectus and the other relevant materials (including, when available, the definitive proxy statement/prospectus) when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FRSG, EO or Juuce, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom.
Participants in the Solicitation
FRSG, the Company and EO and their respective directors and officers may be deemed participants in the solicitation of proxies of FRSG's stockholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of FRSG's executive officers and directors in the solicitation by reading FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of FRSG's, the Company’s and EO’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
EO Contacts
For Investors:
ICR, Inc.
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For Media:
ICR, Inc.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE: KSU) announced today that it has engaged Commtrex to enhance the visibility and connectivity of the KCS network’s over 100 transload facilities in the U.S. and Mexico using the Commtrex platform. The new relationship comes at a time of increasingly complex and volatile global supply chains, capacity constraints, labor shortages, rising transportation costs, as well as growing trade throughout North America due to the United States-Mexico-Canada Agreement.
Located in 19 U.S. and Mexican states, the KCS transload network handles food and agricultural commodities, bulk materials, chemicals, paper and forest products, steel and other metals. The Commtrex platform allows shippers to search for transload centers by location, commodities handled, services provided and other parameters to develop their freight rail options. Close to one-third of Commtrex’s 2,300 members are rail-served shippers.
“Working with Commtrex to support transload volume growth in the U.S. and Mexico supports our vision to be the fastest-growing, best-performing, most customer-focused transportation provider in North America,” said KCS executive vice president and chief marketing officer Mike Naatz. “This will help customers identify transload locations in competitive markets and secure shipping locations in Mexico - one of the fastest emerging logistics markets today.”
“The ability to easily connect shippers with transload facilities at origin and destination to help them develop a rail shipping plan, will facilitate greater conversion of truckload freight to rail,” said Commtrex chief executive officer Martin Lew. “We thank KCS for entrusting us to support the continued growth of their transload footprint. Our team is excited to realize new efficiencies for KCS’ transload operations and shippers as we drive more commercial opportunities through our digital rail logistics platform.”
About Kansas City Southern
Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south-central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
About Commtrex
Commtrex is the largest rail logistics platform empowering shippers to find and connect with transload services, storage locations, warehouses, lessors, and a wide range of service providers. Commtrex is a highly trusted, effective, and data driven platform that is modernizing how the rail industry connects. Within three years, Commtrex has grown to over 2,300 active members, many of whom are commodity shippers moving freight by rail across North America. More information about Commtrex can be found at www.commtrex.com.
KCS: C. Doniele Carlson, 816-983-1372, This email address is being protected from spambots. You need JavaScript enabled to view it.
Commtrex: Kim Turner, 504-701-1919, This email address is being protected from spambots. You need JavaScript enabled to view it.
LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a joint venture comprised of the Company and Brosamer & Wall, Inc. has been awarded a contract valued at approximately $178 million by the U.S. Department of the Interior, Bureau of Reclamation, for the Friant-Kern Canal Middle Reach Capacity Correction Phase I project in central California, southeast of Visalia.
The Friant-Kern Canal delivers water to one million acres of some of the most productive farmland in the country and provides drinking water to thousands of San Joaquin Valley residents. The project will restore water conveyance capacity in a 33-mile section of the canal’s middle reach, where it has been most restricted due to land subsidence in the area that has occurred over the past decades. When complete, the project will return the canal’s conveyance capacity from the current 1,600 cubic feet per second (cfs) to the original 4,000 cfs.
Construction is expected to begin in November 2021 with substantial completion anticipated in June 2024. Tutor Perini’s portion of the contract value is included in the Company’s third-quarter 2021 backlog.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.
Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) has received a AAA rating in the MSCI environmental, social and governance (ESG) ratings for 2021 after earning AA ratings from MSCI ESG for 10 consecutive years. The AAA rating designates Hess as a leader in managing industry specific ESG risks relative to peers.
MSCI provides research, ratings and analysis of the ESG business practices of thousands of companies worldwide. Learn more about MSCI ESG ratings here.
“We are very proud to have received MSCI ESG’s highest rating as a leader in our industry,” said Alex Sagebien, Vice President, Environment, Health and Safety. “Our AAA rating reflects our strong management practices to reduce carbon emissions as well as our top quartile performance in areas such as biodiversity and land use, reduction of air and water emissions and waste, and making a positive impact on the communities where we operate.”
Hess published its 24th annual sustainability report in 2021, which provides a comprehensive review of the company’s strategy and performance on ESG programs and initiatives.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, announced today that it has further extended its market penetration with the installation of new charging stations at Stop & Shop in Connecticut. The exact address of these charging stations is 505 N. Main Street, Southington, CT 06489.
Founded on the premise that the electrification of mobility is likely to be a transformational shift, Volta builds and operates a nationwide EV charging network that has among the best utilization per station in the EV charging industry for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta seeks to transform the fueling industry by building open-network charging stations in locations where drivers already spend their time and money, including grocery stores, pharmacies and other retail locations.
The new charging stations at Stop & Shop further Volta’s mission to build convenient, simple and delightful charging infrastructure that is seamlessly incorporated into a driver’s everyday experience.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the electric vehicle (“EV”) charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K, as amended, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Sabrina Strauss
Goodman Media International, Inc.
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. (“ENN Natural Gas”).
Under the SPA, ENN LNG has agreed to purchase approximately 0.9 million tonnes per annum of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 13 years beginning in July 2022. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee. ENN Natural Gas is acting as guarantor of the SPA.
“We are pleased to announce this long-term LNG contract with ENN, a major player in China’s rapidly growing natural gas market, and we look forward to a successful, long-term relationship with ENN as a customer,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA underscores the strength of the global LNG market today, particularly in China, and highlights Cheniere’s role as a leading global LNG supplier, tailoring solutions to help meet the long-term energy needs and environmental goals of our customers. The SPA also further advances Cheniere’s commercial momentum and marks another milestone in our efforts to contract our LNG capacity on a long-term basis in anticipation of an FID of Corpus Christi Stage 3, which we expect will occur next year.”
Wang Yusuo, Chairman of the Board of ENN Natural Gas said, “China is making great efforts to achieve the goal of peak carbon emissions and carbon neutrality, boosting the reform of the natural gas market, and accelerating the structural adjustment of energy consumption. As one of the world’s leading LNG suppliers, Cheniere has great advantages on resource production and supply capacity, which is highly compatible with the fast-growing natural gas market in China. ENN is accelerating the usage of digital technology to build a modern energy system, and to promote intelligent upgrading of the natural gas industry. It is expected that the two parties will seize the opportunity of this cooperation to establish a strategic relationship, to provide clients with high quality resources and services, and to make positive efforts to the realization of peak carbon emissions and carbon neutrality in China.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission.
About ENN Natural Gas
As one of the largest private energy companies in China, ENN Natural Gas’ business layout covers the entire natural gas industry including distribution, trade, storage & transportation, production and construction. As of 30 June 2021, through its subsidiary, ENN Energy Holdings Limited, one of the largest natural gas distribution companies in China, ENN Natural Gas owns 239 city-gas projects in China, with a connectable population of 117 million. ENN Natural Gas operates the Zhoushan LNG regasification facility in Zhejiang Province, China. During 1H 2021, ENN Natural Gas’s total natural gas sales volume was 17.5 bcm, accounting for 9.6% of China’s total consumption.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings 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 or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes 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. Cheniere’s 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 Cheniere’s periodic reports that are filed with and available from 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 under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Media Relations
Eben Burnham-Snyder, 713-375-5764
DUBLIN--(BUSINESS WIRE)--The "Autonomous Marine Vehicles Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global autonomous marine vehicles market is expected to grow from $3.18 billion in 2020 to $3.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to reach $5.1 billion in 2025 at a CAGR of 10.4%.
Major players in the autonomous marine vehicles market are Asv Global/ASV Unmanned Marine Systems, Atlas Elektronik, Teledyne Technologies, ECA Group, Sea Robotics Inc.
The autonomous marine vehicles market consists of sales of autonomous marine vehicles. Autonomous marine vehicles are robotic equipment that travel below or on the surface of water, without requiring input from a human operator. The autonomous marine vehicles market is segmented into autonomous surface vehicles (which travel on the surface of the water) and autonomous underwater vehicles (which travel below the surface of the water). Autonomous marine vehicles are used for various purposes such as recording oceanographic data, imaging, navigation, communication, collision avoidance and propulsion.
The autonomous marine vehicles market covered in this report is segmented by type into surface vehicle, underwater vehicle. It is also segmented by application into military & defense, archeological, exploration, oil & gas, environmental protection and monitoring, search and salvage operations, oceanography and by technology into imaging, navigation, communication, collision avoidance, propulsion.
The vulnerability of ships to cyber threats due to automation is a major restraint for the autonomous marine vehicles market. This is mainly because cyberspace and its associated infrastructure are vulnerable to a versatile range of risks coming from cyber threats and attacks. The use of automation which negates the need for human intervention on ships and in ports increases the chances of security breaches. A cyber-attack can misguide an autonomous ship to move in a different direction or move to a separate port, which can lead to misplacement and delay of goods and services.
Maritime drone swarming for better surveillance and investigation capabilities is an emerging trend in the autonomous marine vehicles market. Maritime drone swarms are a large group of underwater vehicles moving together for a particular purpose. The drone swarm has a wide range of capabilities in defence applications, since it is capable of performing surveillance and investigation tasks followed by defensive or offensive countermeasures.
As the swarm works collectively to navigate through the underwater environment, it senses a wider area in a quick time by making use of a number of sensing techniques to build a comprehensive map of the environment.
The autonomous marine vehicles market is being driven by a rise in hydrographic, oceanographic and environmental surveys conducted globally. A hydrographic survey measures, describes and maps features that can be found underwater. The main purpose of conducting these surveys is to produce navigational charts essential for safe transit of vessels.
An oceanographic survey helps in the accurate understanding of marine and freshwater environments, for port and harbor development, wastewater and industrial outfalls, power plant intakes/outfalls and offshore disposals. An autonomous surface vehicle (ASV) provides an efficient method of undertaking a hydrographic survey, as it saves both cost and time.
It is also flexible and convenient which allows for faster deployment for a number of survey requirements, from event surveys to large coastal surveys.
Key Topics Covered:
1. Executive Summary
2. Autonomous Marine Vehicles Market Characteristics
3. Autonomous Marine Vehicles Market Trends and Strategies
4. Impact Of COVID-19 On Autonomous Marine Vehicles
5. Autonomous Marine Vehicles Market Size and Growth
5.1. Global Autonomous Marine Vehicles Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Autonomous Marine Vehicles Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Autonomous Marine Vehicles Market Segmentation
6.1. Global Autonomous Marine Vehicles Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Autonomous Marine Vehicles Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Autonomous Marine Vehicles Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Autonomous Marine Vehicles Market Regional and Country Analysis
7.1. Global Autonomous Marine Vehicles Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Autonomous Marine Vehicles Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/hk2rby
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Gas Meter Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global gas meter market was valued at $5.8 billion in 2020, and is projected to reach $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.
Companies Mentioned
A gas meter is a flow meter, which is used to measure the fuel volume such as natural gas or liquid petroleum gas. A gas meter consists of four measurement chambers, which are separated by diaphragm. It is necessary to ensure adequate gas pressure from the main supply of natural or liquefied petroleum gas. Gas meters are widely used in various commercial places as well as large residential areas for measuring the volumetric flow rate and monthly energy bills.
Rapid industrialization has led to increase in usage of natural gas in various emerging economies with large population pool. The installation of gas meters helps in reducing the wastage of gas during transmission and distribution. Moreover, the mandatory installation of smart meters in households and commercial areas is expected to boost the market growth. In addition, increase in demand for efficient energy technologies such as implementation of IOT (internet of things) will further drive the demand for various smart meters. The implementation of IOT (internet of things) simplifies the process meter reading, and it provides web interface between consumers and service providers. In addition, replacement of old conventional meters with new smart meters will further escalate the market growth. For instance, the Government of India is planning to replace 250 million conventional meters into smart meters by 2022.
The high capital investment and integration of complex technologies are the major challenges during the initial phase. Moreover, the maintenance of gas meters is capital intensive, which makes the application limited for small residential areas.
Nonetheless, favorable government policies and rebate schemes from industry players on installation of gas meters are expected to provide new growth opportunities in the market.
The global gas meter market is segmented on the basis of product type and end user. On the basis of product type, it is divided into traditional gas meter and smart gas meter. By end user, the market is classified into residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COVID-19 Scenario Analysis
Key Benefits
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the global Gas Meter market
3.3. Market dynamics
3.3.1. Drivers
3.3.2. Restraint
3.3.3. Opportunities
3.4. Impact of government regulations on the global Gas Meter market
3.5. Patent analysis
3.5.1. By countries, 2012-2020
3.6. Impact of COVID-19 outbreak on the Gas Meter market
CHAPTER 4: GLOBAL GAS METER MARKET, BY PRODUCT TYPE
CHAPTER 5: GLOBAL GAS METER MARKET, BY END-USER
CHAPTER 6: GAS METER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) issued an updated climate change resilience report that further details the company’s ambition to advance our lower carbon future. Chevron adopted a 2050 net zero aspiration for equity upstream Scope 1 and 2 emissions. The TCFD-aligned report describes how Chevron is incorporating Scope 3 emissions into its greenhouse gas emission targets by establishing a Portfolio Carbon Intensity (PCI) target inclusive of Scope 1 and 2 as well as Scope 3 emissions* from the use of its products.
“Solutions start with problem solving, which is exactly what the people of Chevron do – and have excelled at for over 140 years,” said Michael Wirth, Chevron’s chairman and CEO. “This report offers further insights about our strategy, how we are investing in lower-carbon businesses and why we believe this is an exciting time to be in the energy industry.”
Chevron’s new PCI target assists with transparent carbon accounting and company comparison from publicly available data. The target covers the full value chain, including Scope 3 emissions from the use of products. The company has set a greater than 5 percent carbon emissions intensity reduction target from 2016 levels by 2028. This target is aligned with Chevron’s strategy which allows flexibility to grow its traditional business, provided it remains increasingly carbon-efficient, and pursue growth in lower-carbon businesses. Chevron plans to publish a PCI methodology document and online tool to enable third parties to calculate PCI for energy companies.
Chevron’s 2050 equity upstream Scope 1 and 2 net zero aspiration builds on the company’s disciplined approach to target setting and action. The path to this net zero aspiration anticipates partnerships with multiple stakeholders and progress in technology, policy, regulations, and offset markets.
“We regularly engage with stakeholders and investors to understand their views and to be responsive to their increasing expectations on all issues, including ESG,” said Dr. Ronald Sugar, Chevron’s lead director. “Our updated report demonstrates our goal to partner with many stakeholders to work toward a lower carbon future.”
The full report is online here.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance our lower carbon strategy, we are focused on lowering the carbon intensity in our operations and growing lower carbon businesses. More information about Chevron is available at www.chevron.com.
* Scope 1 includes direct emissions of the six Kyoto Protocol greenhouse gases (GHG)--carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), sulfur hexafluoride, perfluorocarbons, and hydrofluorocarbons. Scope 2 includes indirect GHG emissions from imported electricity and steam. Scope 3 includes other indirect emissions, including use of products. The PCI includes Scope 3 emissions from the use of products. More information is available in our updated climate change resilience report, which is aligned with Task Force on Climate-Related Disclosures (TCFD).
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s energy transition plans and operations that are based on management’s current expectations, estimates, and projections about the petroleum, chemicals, and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires,” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Our ability to achieve the goals, targets, and aspirations outlined in this news release depends on making extensive progress with independent third parties, including development of policy and regulatory support, technological advancement, successful commercial negotiations, availability of cost-effective and verifiable offsets in a global market, and the granting of necessary permits by governing authorities. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural-gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries (OPEC) and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; development of large carbon capture and offsets markets; public health crises, such as pandemics and epidemics, and related government policies and actions; changing economic, regulatory, and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing, and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions, and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; the results of operations and financial condition of the company’s suppliers, vendors, partners, and equity affiliates; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural-gas development projects; potential delays in the development, construction, or startup of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment, or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms, or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the 2020 Annual Report on Form 10-K. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Sean Comey -- +1-925-842-5509
Discussing how utilities can embrace change and leverage satellite analytics and AI to decrease costs, improve reliability metrics, and increase safety for team members and consumers
SANTA CLARA, Calif.--(BUSINESS WIRE)--AiDash will speak on the importance of critical data insights for utilities of all sizes at Utility Analytics Institute’s UA Week conference in Dallas, Texas. The conference takes place Oct. 1315, 2021.
AiDash’s senior manager of customer success, Jordan Jozak, will be joined by United Power’s vegetation management and construction project specialist, Holly Woodings. They will deliver a talk entitled “AiDash: Transforming United Power's Vegetation Management with Satellite Technology,” on Friday, October 15, at 9:45 AM (CT). In this session, they will discuss how United Power has used AiDash Intelligent Vegetation Management System (IVMS) to better plan their vegetation management (VM) activities, increase reliability and decrease VM costs.
AiDash IVMS combines high-resolution, multispectral satellite images with on-ground reports to provide increased visibility on the overgrowth of vegetation around transmission and distribution grids. AiDash’s platform pulls critical operations and maintenance data points into one centralized system. Its proprietary AI models identify and leverage crucial data points such as tree growth rates, historic weather data, and the location of transmission and distribution lines to help utilities optimize their vegetation management programs.
“It’s important for the utility industry to embrace change. Leveraging satellite technology, AI, and data to optimize our vegetation management program, save money, and strengthen our wildfire mitigation plans with AiDash’s platform is all part of United Power’s plan to look toward the future. It’s one more key point to stay ahead of the game. And it’s important for utilities, regardless of their size, to be able to embrace technology,” said Woodings.
To learn more about the conference and other speakers, access the full agenda here: https://www.utilityanalyticsweek.com/uaweek/inperson_agenda
About AiDash
AiDash is an AI-first vertical SaaS company enabling satellite and AI powered operations, maintenance and sustainability for industries with geographically distributed assets. AiDash uses high-resolution multispectral and SAR data from the world’s leading satellite constellations that are fed into its proprietary AI models to make timely predictions at scale. These AI models empower AiDash’s full-stack applications that transform O&M for utility, energy, transportation, water and wastewater, mining and construction companies. Visit aidash.com.
About United Power
United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. The cooperative is one of the fastest-growing electric cooperatives in the nation, and in June joined the elite ranks of cooperatives serving more than 100,000 meters. The 900 square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. For more information about the cooperative, visit www.unitedpower.com or follow them on social media Facebook, Twitter, LinkedIn, YouTube and Instagram.
About Utility Analytics Institute
Utility Analytics Institute enables utility transformation through analytics. Transforming into a data decision-based company is one of the most difficult transitions a utility will have to make to thrive in the new energy economy. It’s more than just managing massive amounts of data, implementing the right tools and technology, and people and process management. It’s ensuring you have proper change management processes in place to address cultural challenges, as well as data management and governance plans, and best practice and compliant security strategies in place. It’s implementing the best organizational structure for your utility, and hiring and retaining talented staff, plus so much more! UAI brings together the leading utilities who are serious about tackling these challenges and together we concentrate on utility analytics. Visit utilityanalytics.com.
Bradley Smith
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