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Helmerich & Payne, Inc. To Participate in J.P. Morgan 2022 Energy, Power & Renewables Conference
Helmerich & Payne, Inc. To Participate in J.P. Morgan 2022 Energy, Power & Renewables Conference TULSA, Okla., Jun. 17 /BusinessWire/ -- Helmerich & Payne, Inc. (NYSE:HP) today announced that John Lindsay, President and Chief Executive Officer; Mark Smith, Senior Vice President and Chief Financial Officer; Mike Lennox, Senior Vice President of U.S. Land Operations; and Dave Wilson, Vice President of Investor Relations; are scheduled to participate in meetings with investors at the J.P. Morgan 2022 Energy, Power & Renewables Conference in New York City on both Wednesday and Thursday, June 22-23, 2022. Mr. Lindsay will participate in an analyst Q&A session on behalf of the Company on Thursday, June 23, 2022, at 10:20 a.m. U.S. ET. Investor slides to be used during the conferences are available for download on the company's website, within Investors, under Presentations. About Helmerich & Payne, Inc. Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com. Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20220617005026/en/ back
Oasis Petroleum Inc. Declares Special Dividend of $15.00 per Share in connection with its Merger with Whiting
Oasis Petroleum Inc. Declares Special Dividend of $15.00 per Share in connection with its Merger with Whiting HOUSTON, June 16, 2022 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis") announced today that its Board of Directors has, subject to certain conditions, declared a special dividend of $15.00 per share of Oasis common stock. The special dividend is being declared in connection with, and its payment is subject to, the closing of Oasis' previously announced merger (the "Merger") with Whiting Petroleum Corporation (NYSE: WLL) ("Whiting"). The special dividend would be payable following the closing of the Merger to Oasis' stockholders of record as of the close of business on the first business day following the date on which both Oasis' shareholders and Whiting's shareholders have approved the Merger and related matters. The special meetings of Oasis' shareholders and Whiting's shareholders to consider and vote upon the Merger and related matters are each scheduled for June 28, 2022. If requisite shareholder approvals are obtained on June 28, 2022 and all other closing conditions are timely satisfied, the Merger is expected to close on July 1, 2022 and the special dividend would be payable on July 8, 2022. The payment of the special dividend is conditioned on the closing of the Merger, which remains subject to the approval of both Oasis' and Whiting's shareholders and other customary closing conditions. There can be no assurance that all such closing conditions will be satisfied by July 1, 2022, that the closing of the Merger will occur on July 1, 2022 or that the Merger or related transactions will occur at all. For the avoidance of doubt, the record date will be prior to closing of the Merger and therefore Whiting shareholders will not be entitled to payment of the special dividend in respect of the shares of Oasis common stock received as consideration for the Merger. Forward-Looking StatementsCertain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding Whiting's or Oasis' industry, future events, the Merger between Whiting and Oasis, the estimated or anticipated future results and benefits of the combined company following the Merger, the near- and long-term success of the combined company following the Merger, potential opportunities the combined company may have, the success of the combined company's brand identity, anticipated timing of the closing of the Merger, and other statements that are not historical facts. These statements are based on current expectations and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties regarding Whiting's and Oasis' businesses and the Merger, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the possibility that stockholders of Whiting and Oasis may not approve the merger agreement; the risk that a condition to closing of the Merger may not be satisfied, that either party may terminate the merger agreement or that the closing of the Merger might be delayed or not occur at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the diversion of management time on transaction-related issues; the ultimate timing, outcome and results of integrating the operations of Whiting and Oasis; the effects of the business combination of Whiting and Oasis, including the combined company's future financial condition, results of operations, strategy and plans; the ability of the combined company to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance operations in the manner expected; regulatory approval of the transaction; the effects of commodity prices; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the Merger. Additional factors that could cause results to differ materially from those described above can be found in Whiting's Annual Report on Form 10-K for the year ended December 31, 2021, as amended, which is on file with the Securities and Exchange Commission (the "SEC") and available on Whiting's website at www.whiting.com under the "Investor Relations" tab, and in other documents Whiting files with the SEC, including the Registration Statement (as defined below); and in Oasis' Annual Report on Form 10-K for the year ended December 31, 2021, which is on file with the SEC and available on Oasis' website at www.oasispetroleum.com under the "Investors" tab, and in other documents Oasis files with the SEC, including the Registration Statement. All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Whiting nor Oasis assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. Important Additional Information Regarding the Merger Is and Will Continue to be Filed With the SECThis communication is being made in respect of the Merger involving Whiting and Oasis. The Merger will be submitted to stockholders of Whiting and stockholders of Oasis for their consideration and approval at a special meeting of the respective stockholders of each. Whiting and Oasis have filed with the SEC, in connection with the solicitation of proxies for the special meeting of Whiting's stockholders and the special meeting of Oasis' stockholders, a joint proxy statement/prospectus in preliminary and definitive form (the "Definitive Proxy Statement") and a Registration Statement on Form S-4 relating to the Merger (the "Registration Statement"), of which the Definitive Proxy Statement forms a part. The Registration Statement was declared effective by the SEC on May 24, 2022, and the Definitive Proxy Statement was mailed to the stockholders of Whiting and the stockholders of Oasis on or about May 24, 2022. Investors and security holders of Whiting and Oasis are each advised to read the Registration Statement and any amendments thereto, the Definitive Proxy Statement and other relevant documents to be filed by Whiting and Oasis with the SEC because they contain important information about the Merger and the parties to the Merger. Investors and security holders may obtain a free copy of the Registration Statement, the Definitive Proxy Statement, any amendments or supplements thereto and other relevant documents filed by Whiting and Oasis with the SEC from the SEC's website at www.sec.gov. Copies of documents filed with the SEC by Whiting are available free of charge at Whiting's website at www.whiting.com under the "Investor Relations" tab or by directing a request to: Investor Relations Department at (303) 837-1661 or BrandonD@whiting.com. Copies of documents filed with the SEC by Oasis are available free of charge at Oasis' website at www.oasispetroleum.com under the "Investors" tab or by directing a request to: Oasis' Investor Relations Department at (281) 404-9600 or ir@oasispetroleum.com. Participants in the SolicitationWhiting and Oasis and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Whiting's stockholders and Oasis' stockholders in connection with the Merger. Information regarding the directors, executive officers, other members of management, and employees of each of Whiting and Oasis is included in the Definitive Proxy Statement and certain of Whiting's and Oasis' other SEC filings made subsequent to the date of the Definitive Proxy Statement. To the extent holdings of Whiting's or Oasis' securities by such individuals have changed since the amounts printed in the Definitive Proxy Statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC, if such individual is subject to the reporting requirements of Section 16. Additional information regarding the identity of potential participants and their direct or indirect interests, by security holdings or otherwise, is set forth in the Definitive Proxy Statement and other materials to be filed with the SEC in connection with the special meeting of Whiting's stockholders and the special meeting of Oasis' stockholders. No Offer or SolicitationThis document is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the Merger or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction About Oasis Petroleum Inc.Oasis Petroleum Inc. is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company's website at www.oasispetroleum.com. View original content:https://www.prnewswire.com/news-releases/oasis-petroleum-inc-declares-special-dividend-of-15-00-per-share-in-connection-with-its-merger-with-whiting-301569991.html SOURCE Oasis Petroleum Inc.
CNX Submits Comment Letter to SEC on Proposed Climate Rules
CNX Submits Comment Letter to SEC on Proposed Climate Rules Requests Standardization Apply Equally to All to Avoid Misinforming Investors and to Improve Accuracy and Transparency PITTSBURGH, June 16, 2022 /PRNewswire/ -- In a letter to the U.S. Securities and Exchange Commission (SEC), CNX Resources Corporation (NYSE: CNX) offers insights to the agency on behalf of the company's stakeholders. As a leader in corporate responsibility - focused on delivering tangible, impactful, and local benefits to the company's stakeholders - CNX comments on the proposed rule's practical application as it relates to accurate, transparent, and consistent measures as well as potential unintended consequences that could negatively impact confidence in the capital markets. The company's written response reflects the following three themes to ensure the proposal is consistent with the Commission's mission in providing standardized, transparent disclosures to investors: "First, the proposed climate rules create inconsistent and highly subjective standards for reporting Scopes 1, 2, and 3 carbon dioxide emissions across different industries and companies. This in turn may create confusion and misinformation when investors assume the emissions data reported by each registrant were developed from the same methodology, scope, and assumptions. Although CNX fully supports the SEC's important mission and places the highest priority on regulatory compliance, the draft rule represents a departure from the Commission's goal of promoting fair, transparent, and well-understood accounting principles that ensure comparable and decision-useful outcomes," said Alan Shepard, CNX Chief Financial Officer. CNX Chief Excellence Office Yemi Akinkugbe commented, "Second, the proposed climate rules are attempting to morph an ambiguous voluntary reporting framework into an involuntary compliance framework without first addressing the necessary standardization to ensure a consistent, accurate, and transparent level playing field across public companies and the capital markets. Capital could end up being mis-allocated as a result. Although CNX recently established a Regulatory Reporting Group and has committed to reporting emissions data on a quarterly basis, not everyone is as far along in this process. Appropriate standardization of climate-related disclosures should be in place to ensure capital allocation decisions are made with accurate, transparent, and consistent data when it comes to cumulative lifecycle emissions." "Third and last, getting this issue right requires rules that are accurate, transparent, and consistent across industries and companies. The CNX New Technologies effort is focused on how best to utilize existing company assets and proprietary technology to drive results in methane abatement and other similar carbon capture opportunities. The domestic natural gas industry, the Appalachian basin, and CNX in particular, are strategically positioned to provide solutions and economically benefit in a lower carbon macro environment if these proposed rules are applied uniformly," concluded CNX President of New Technologies Ravi Srivastava. To view the Company's full comment letter, please click here. About CNX Resources CNX Resources Corporation (NYSE: CNX) is unique. We are a premier natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 158-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2021, CNX had 9.63 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/cnx-submits-comment-letter-to-sec-on-proposed-climate-rules-301569920.html SOURCE CNX Resources Corporation
Hess to Participate in J.P. Morgan 2022 Energy, Power & Renewables Conference
Hess to Participate in J.P. Morgan 2022 Energy, Power & Renewables Conference NEW YORK, Jun. 16 /BusinessWire/ -- Hess Corporation (NYSE:HES) announced today that John Hess, Chief Executive Officer, will participate in a Fireside Chat at the J.P. Morgan 2022 Energy, Power & Renewables Conference Thursday, June 23 at 8:20 a.m. Eastern Time. A live audio webcast and a replay of the discussion will be accessible via Hess Corporation's website. 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 https://www.hess.com/. Cautionary Statements This presentation will contain projections and other 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. These projections and statements reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the company's periodic reports filed with the Securities and Exchange Commission. View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005699/en/ back
Camber Energy Redeems Preferred Shares
Camber Energy Redeems Preferred Shares HOUSTON, TX / ACCESSWIRE / June 16, 2022 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce that on June 15, 2022 it redeemed 2,636 shares of Series G Preferred Stock (the "Series G Shares"), which were previously issued by the Company on December 31, 2021 as part of a financing commitment from an institutional investor.The 2,636 Series G Shares were associated with a promissory note issued by the investor in favor of the Company in the principal amount of $23,750,000, due June 30, 2022, and the Company exercised its right to redeem the shares and cancel the promissory note. The other two promissory notes issued by the investor in favor of the Company remain outstanding and the Company has the right to redeem the Series G Shares associated with such notes.James Doris, President and Chief Executive Officer of Camber, commented, "Given global economic conditions and the overall pressure on equities, we believe it is prudent to refrain from taking funds under this preferred share structure as the conversion metrics in the current environment would result in a disproportionate amount of dilution. We are committed to ensuring future financings are on the best terms possible for the company's stakeholders."Further details regarding the above are contained in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on June 16, 2022, and available under "investors" - "SEC filings" at www.camber.energy.About Camber Energy, Inc.Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.Forward-Looking StatementsThis press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.Contact InformationInvestors and Media:Tel. 281.404.4387 (ext.3)SOURCE: Camber Energy, Inc.View source version on accesswire.com: https://www.accesswire.com/705390/Camber-Energy-Redeems-Preferred-Shares
Marathon Petroleum Corp. to Report Second-Quarter Financial Results on August 2, 2022
Marathon Petroleum Corp. to Report Second-Quarter Financial Results on August 2, 2022 FINDLAY, Ohio, June 16, 2022 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on Tuesday, August 2, 2022, at 11 a.m. EDT to discuss 2022 second-quarter financial results. Interested parties may listen to the conference call by visiting MPC's website at www.marathonpetroleum.com. A replay of the webcast will be available on MPC's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.marathonpetroleum.com. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com. Investor Relations Contacts: (419) 421-2071Kristina Kazarian, Vice PresidentBrian Worthington, ManagerKenan Kinsey, Analyst Media Contact: (419) 421-3312Jamal Kheiry, Communications Manager View original content:https://www.prnewswire.com/news-releases/marathon-petroleum-corp-to-report-second-quarter-financial-results-on-august-2-2022-301569511.html SOURCE Marathon Petroleum Corporation
Alto Ingredients, Inc. Receives $22.7 Million Grant from USDA Program
Alto Ingredients, Inc. Receives $22.7 Million Grant from USDA Program SACRAMENTO, Calif., June 16, 2022 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols and essential ingredients, announced today that it has received a $22.7 million cash grant from the USDA's Biofuel Producer Program. The Program was created as part of the CARES Act, which provided $700 million to support biofuel producers who experienced market losses due to the COVID-19 pandemic. Mike Kandris, Alto Ingredients' CEO, said, "The grant we received from the Biofuels Producer Program will be used to support ongoing facility maintenance and improvements. Our strategic plan includes upgrading equipment and operating systems to increase efficiency and plant reliability, expanding our corn storage capacity, broadening our distribution, and installing high protein harvesting technology. In addition to fueling growth, these capital projects are expected to yield additional profitability." About Alto Ingredients, Inc.Alto Ingredients, Inc. (ALTO) is a leading producer and distributor of specialty alcohols and essential ingredients. The company is focused on products for four key markets: Health, Home & Beauty; Food & Beverage; Essential Ingredients; and Renewable Fuels. The company's customers include major food and beverage companies and consumer products companies. For more information, please visit www.altoingredients.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995Statements and information contained in this communication that refer to or include Alto Ingredients' estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Alto Ingredients' current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning Alto Ingredients' expected uses of funds received under the USDA's Biofuel Producer Program and the effects of, including the financial results deriving from, Alto Ingredients' capital improvement projects; and Alto Ingredients' other plans, objectives, expectations and intentions. It is important to note that Alto Ingredients' plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients' current expectations depending upon a number of factors affecting Alto Ingredients' business. These factors include, among others, Alto Ingredients' ability to timely and effectively complete its capital improvement and other projects and initiatives, and to operate them as expected; adverse economic and market conditions, including for specialty alcohols and essential ingredients; export conditions and international demand for the company's products; fluctuations in the price of and demand for oil and gasoline; raw material costs, including production input costs, such as corn and natural gas; and the effects both positive and negative of the coronavirus pandemic and its resurgence or abatement. These factors also include, among others, the inherent uncertainty associated with financial and other projections; the anticipated size of the markets and continued demand for Alto Ingredients' products; the impact of competitive products and pricing; the risks and uncertainties normally incident to the specialty alcohol production and marketing industries; changes in generally accepted accounting principles; successful compliance with governmental regulations applicable to Alto Ingredients' facilities, products and/or businesses; changes in laws, regulations and governmental policies; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Alto Ingredients' filings with the Securities and Exchange Commission including, specifically, those factors set forth in the "Risk Factors" section contained in Alto Ingredients' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 10, 2022. Media Contact: Bryon McGregor, Alto Ingredients, Inc., 916-403-2768 mediarelations@altoingredients.com Company IR Contact: Michael Kramer, Alto Ingredients, Inc., 916-403-2755investorrelations@altoingredients.com IR Agency Contact: Kirsten Chapman, LHA Investor Relations, 415-433-3777investorrelations@altoingredients.com
Ring Energy Set to Join Russell 3000 Index
Ring Energy Set to Join Russell 3000® Index THE WOODLANDS, Texas, June 16, 2022 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) ("Ring" or the "Company") today announced it is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell Indexes Annual Reconstitution, according to a preliminary list of additions posted by FTSE Russell on June 3, 2022. Inclusion in the index will take effect after the U.S. market opens on June 27, 2022. The annual reconstitution of the Russell indexes captures the 4,000 largest U.S. stocks as of May 6, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or in the small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes. Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, "Joining the Russell 3000® Index is a significant milestone for Ring Energy, which we view as a direct result of our focused efforts to drive incremental efficiencies in our development and operational efforts designed to increase shareholder value. We welcome the enhanced visibility and distribution provided by our inclusion in the Russell 3000® Index as a way to broaden awareness of our Company within the institutional Investor community." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website, www.ftserussell.com. About Ring Energy, Inc. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the conventional development of its Permian Basin assets in West Texas and New Mexico. For additional information, please visit www.ringenergy.com. About FTSE RussellFTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. FTSE Russell is wholly owned by London Stock Exchange Group. Safe Harbor Statement This release contains 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. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company's strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2021, and its other filings with the SEC. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company's ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company. Contact Information Al Petrie Advisors Al Petrie, Senior Partner Phone: 281-975-2146 Email: apetrie@ringenergy.com
INVESTIGATION ALERT: Halper Sadeh LLP Investigates TPTX, CTT, CDEV, SREV
INVESTIGATION ALERT: Halper Sadeh LLP Investigates TPTX, CTT, CDEV, SREV NEW YORK, NY / ACCESSWIRE / June 15, 2022 / Halper Sadeh LLP, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:Turning Point Therapeutics, Inc. (NASDAQ:TPTX)'s sale to Bristol Myers Squibb for $76.00 per share. If you are a Turning Point shareholder, click here to learn more about your rights and options.CatchMark Timber Trust, Inc. (NYSE:CTT)'s sale to PotlatchDeltic Corporation for 0.23 common shares of PotlatchDeltic stock for each common share of CatchMark. If you are a CatchMark shareholder, click here to learn more about your rights and options.Centennial Resource Development, Inc. (NASDAQ:CDEV)'s merger with Colgate Energy Partners III, LLC. If you are a Centennial shareholder, click here to learn more about your rights and options.ServiceSource International, Inc. (NASDAQ:SREV)'s sale to Concentrix Corporation for $1.50 per share. If you are a ServiceSource shareholder, click here to learn more about your rights and options.Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com.Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.Attorney Advertising. Prior results do not guarantee a similar outcome.Contact Information:Halper Sadeh LLPDaniel Sadeh, Esq.Zachary Halper, Esq.(212) 763-0060sadeh@halpersadeh.comzhalper@halpersadeh.comhttps://www.halpersadeh.comSOURCE: Halper Sadeh LLPView source version on accesswire.com: https://www.accesswire.com/705343/INVESTIGATION-ALERT-Halper-Sadeh-LLP-Investigates-TPTX-CTT-CDEV-SREV
Phillips 66 to Announce Second-Quarter Financial Results
Phillips 66 to Announce Second-Quarter Financial Results HOUSTON, Jun. 15 /BusinessWire/ -- Phillips 66 (NYSE:PSX) executive management will host a webcast at noon EDT on Friday, July 29, 2022, to discuss the company's second-quarter 2022 financial results, which will be released earlier that day, and provide an update on strategic initiatives. To access the webcast, go to the Events and Presentations section of the Phillips 66 Investors site, phillips66.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a transcript will be available at a later date. About Phillips 66 Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company's portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter. View source version on businesswire.com: https://www.businesswire.com/news/home/20220615006028/en/ back
ExxonMobil statement regarding President Biden Letter to Oil Industry
ExxonMobil statement regarding President Biden Letter to Oil Industry IRVING, Texas, Jun. 15 /BusinessWire/ -- ExxonMobil today released the following statement in response to a letter from President Biden. We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period. Globally, we've invested double what we've earned over the past five years -- $118 billion on new oil and gas supplies compared to net income of $55 billion. This is a reflection of the company's long-term growth strategy, and our commitment to continuously invest to meet society's demand for our products. Specific to refining capacity in the U.S., we've been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day - the equivalent of adding a new medium-sized refinery. We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand. In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and some fuel specifications to increase supplies. Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines. About ExxonMobil ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society's evolving needs. The corporation's primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn. View source version on businesswire.com: https://www.businesswire.com/news/home/20220615006025/en/ back
Valero Energy Corporation to Announce Second Quarter 2022 Earnings Results on July 28, 2022
Valero Energy Corporation to Announce Second Quarter 2022 Earnings Results on July 28, 2022 SAN ANTONIO, Jun. 15 /BusinessWire/ -- Valero Energy Corporation (NYSE:VLO) announced today that it will host a conference call on July 28, 2022 at 10:00 a.m. ET to discuss second quarter 2022 earnings results, which will be released earlier that day, and provide an update on company operations. Persons interested in listening to the conference call may join the webcast on Valero's Investor Relations website at www.investorvalero.com. About Valero We are a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and we sell our products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America. We own 15 petroleum refineries located in the U.S., Canada, and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day (BPD). We are a joint venture member in Diamond Green Diesel Holdings LLC (DGD), which owns a renewable diesel plant in Norco, Louisiana with a production capacity of 700 million gallons per year, and we own 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.6 billion gallons per year. We manage our operations through our Refining, Renewable Diesel, and Ethanol segments. Please visit www.investorvalero.com for more information. View source version on businesswire.com: https://www.businesswire.com/news/home/20220613005811/en/ back
California Resources Corporation Announces Amendments to Consent Solicitation
California Resources Corporation Announces Amendments to Consent Solicitation LONG BEACH, Calif., Jun. 15 /BusinessWire/ -- California Resources Corporation (NYSE:CRC) ("CRC" or the "Company") today announced amendments to and extension of its solicitation of consents (the "Consent Solicitation") from the holders of its outstanding 7.125% Senior Notes due 2026 (CUSIP Nos. 13057QAH0, 13057QAJ6 and U1303AAE6) (the "Notes") to the proposed amendment to the indenture governing the Notes (the "Proposed Amendment") described in the Consent Solicitation Statement dated June 6, 2022, as amended by the Company's press release dated June 13, 2022 and as further amended by a Supplement dated June 15, 2022 (as amended, the "Statement"). The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in the Statement. The expiration time for the Consent Solicitation is being further extended to 5:00 p.m., New York City time, on June 17, 2022 (the "Expiration Time"), unless further extended or earlier terminated by the Company. The record date (the "Record Date") for determining holders of the Notes entitled to give consents and receive the Consent Fee (as described below) remains 5:00 p.m., New York City time, on June 3, 2022. The Company has increased the cash payment (the "Consent Fee") to be paid if the Company receives the consents required to approve the Proposed Amendment and the other conditions to the Consent Solicitation are satisfied or waived. The aggregate Consent Fee will be $9,000,000, to be shared by all consenting holders who validly deliver consents to the Proposed Amendment before the Expiration Time. Specifically, the Consent Fee will be an amount, per $1,000 principal amount of Notes for which a holder has validly delivered (on or prior to the Expiration Time) its consent, equal to the product of $15.00 multiplied by a fraction, the numerator of which is the aggregate principal amount of Notes outstanding at the Record Date for the Consent Solicitation and the denominator of which is the aggregate principal amount of Notes for which the holders have validly delivered consents prior to the Expiration Time. As a result, the Consent Fee for the Notes will range from $15.00 per $1,000 (if all holders consent) to approximately $30.00 per $1,000 (if holders of only a majority of the aggregate principal amount of the Notes consent). Receipt of the Consent Fee by a consenting holder will result in a "significant modification" of such consenting holder's Notes for United States federal income tax purposes, resulting in a deemed exchange of such consenting holder's Notes. Such a deemed exchange will be a taxable event (unless a non-recognition provision were to apply). Holders should consult their own tax advisors regarding the tax consequences of the Consent Solicitation. The Supplement dated June 15, 2022 describes certain revisions to the Proposed Amendment and includes updated disclosure regarding tax consequences to the holders of the Notes in connection with the Consent Solicitation. Holders of the Notes are referred to the Statement for the detailed terms and conditions of the Consent Solicitation, all of which remain unchanged except as set forth in this release and the Supplement dated June 15, 2022. Holders of the Notes who have validly delivered their consents with respect to the Proposed Amendment do not need to deliver new consents or take any other action in response to this announcement in order to consent to the Proposed Amendment. Consents (whether previously or hereafter delivered) with respect to the Proposed Amendment may not be revoked once given, except in the limited circumstances described in the Statement. CRC reserves the right to modify the Statement and the terms and conditions of the Consent Solicitation or to terminate the Consent Solicitation at any time. MUFG Securities Americas Inc. and Citigroup Global Markets Inc. are the Joint Solicitation Agents. Global Bondholder Services Corporation has been retained to serve as the Information and Tabulation Agent for the Consent Solicitation. Persons with questions regarding the Consent Solicitation should contact MUFG Securities Americas Inc. at (toll free) (877) 744-4532 or (New York) (212) 405-7481 or Citigroup Global Markets Inc. at (toll free) (800) 558-3745 or (collect) (212) 723-6106. Requests for the Statement should be directed to Global Bondholder Services Corporation at (toll free) (855) 654-2015 or (collect) (212) 430-3774 or by email to contact@gbsc-usa.com. None of the Company, the Joint Solicitation Agents, the Information and Tabulation Agent, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether holders should deliver Consents in response to the Consent Solicitation. Holders must make their own decision as to whether to participate in the Consent Solicitation, and, if so, the principal amount of Notes in respect of which to deliver Consents. This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Consent Solicitation is being made only pursuant to the Statement and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of the Company by the Joint Solicitation Agents, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. About California Resources Corporation CRC is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing Carbon Capture and Storage and other emissions reducing projects. Forward-Looking Statements All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements regarding the Consent Solicitation, the timing thereof, and the Company's intention to fund the Consent Solicitation, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements. The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company's business, most of which are difficult to predict and many of which are beyond the Company's control. These risks include, but are not limited to, the risks described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequently filed Quarterly Report on Form 10-Q. View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005477/en/ back
Oceaneering to Present at the J.P. Morgan Energy Conference
Oceaneering to Present at the J.P. Morgan Energy Conference HOUSTON, Jun. 15 /BusinessWire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced today that President and Chief Executive Officer Roderick A. Larson will make a presentation at the J.P. Morgan Energy, Power & Renewables Conference, in New York on Wednesday, June 22, 2022. Mr. Larson and other members of management will also meet with institutional investors. The conference handout is available through the Investor Relations section of Oceaneering's website at www.oceaneering.com. Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries. For more information on Oceaneering, please visit www.oceaneering.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005005/en/ back
Patterson-UTI Energy to Present at the J.P. Morgan 2022 Energy, Power & Renewables Conference
Patterson-UTI Energy to Present at the J.P. Morgan 2022 Energy, Power & Renewables Conference HOUSTON, TX / ACCESSWIRE / June 15, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced that the Company will participate in the J.P. Morgan 2022 Energy, Power & Renewables Conference on Thursday, June 23, 2022. Participating in the conference from Patterson-UTI will be Andy Hendricks, Chief Executive Officer; Andy Smith, Chief Financial Officer; Mike Holcomb, President, Patterson-UTI Drilling; and Mike Drickamer, Vice President Investor Relations.While at the conference, Andy Hendricks will participate in a fireside chat at 1:35 p.m. Eastern time. To access the webcast of this fireside chat, go to the investor relations section of the Company's webcast at investor.patenergy.com prior to the scheduled start time.About Patterson-UTIPatterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling, pressure pumping and directional drilling services. For more information, visit www.patenergy.com.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI's current beliefs, expectations or intentions regarding future events. Words such as "anticipate," "believe," "budgeted," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "project," "pursue," "should," "strategy," "target," or "will," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Patterson-UTI's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions, including as a result of economic repercussions from the COVID-19 pandemic; global economic conditions; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI's services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI's services; the impact of the ongoing conflict in Ukraine; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; the ultimate timing, outcome and results of integrating the operations of Pioneer Energy Services into Patterson-UTI; the effects of the acquisition on Patterson-UTI, including Patterson-UTI's future financial condition, results of operations, strategy and plans; potential adverse reactions or changes to business relationships resulting from the acquisition; the failure to realize expected synergies and other benefits from the acquisition; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; stock price volatility; and compliance with covenants under Patterson-UTI's debt agreements.Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI's SEC filings. Patterson-UTI's filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI's website at http://www.patenergy.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.CONTACT:Mike DrickamerVice President, Investor Relations(281) 765-7170SOURCE: Patterson-UTI Energy, Inc.View source version on accesswire.com: https://www.accesswire.com/705122/Patterson-UTI-Energy-to-Present-at-the-JP-Morgan-2022-Energy-Power-Renewables-Conference
W&T Offshore Announces Appointment of General Counsel
W&T Offshore Announces Appointment of General Counsel HOUSTON, June 15, 2022 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) ("W&T" or the "Company") today announced the appointment of Jonathan Curth to Executive Vice President, General Counsel and Corporate Secretary, effective June 14, 2022. Mr. Curth has extensive legal experience working with public exploration and production ("E&P") companies. Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are excited to have Jonathan join our great executive team at W&T. His many years serving as both an attorney with international law firms and as general counsel at public E&P companies, and, in particular, his involvement with acquisitions, capital markets and corporate transactions, will complement W&T's strategic vision. We look forward to his insight as we continue to grow shareholder value." Prior to joining W&T, Mr. Curth most recently served as Executive Vice President, General Counsel, Compliance Officer and Corporate Secretary for Vine Energy, Inc. (now Chesapeake Energy Corp.). His prior experience also includes Interim President & CEO, General Counsel, Chief Compliance Officer, Corporate Secretary and Executive Vice President of Land of Vanguard Natural Resources, Inc. (now Grizzly Energy, LLC) and Assistant General Counsel at Newfield Exploration Company (now Ovintiv Inc.). He also previously worked at Willkie Farr & Gallagher LLP where he was Senior Counsel and at Baker & McKenzie LLP. Mr. Curth is Board Certified in Oil, Gas and Mineral Law by the Texas Board of Legal Specialization and has 15 years of experience in oil and gas as an attorney with a focus on domestic and international transactions, including acquisitions, divestitures, joint ventures, securities regulations, corporate financing, restructuring transactions, and Environmental, Social and Governance ("ESG") matters. Mr. Curth received a BA degree from Baylor University and a Juris Doctor degree from The University of Texas School of Law. About W&T OffshoreW&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration, and development. As of March 31, 2022, the Company had working interests in 47 fields in federal and state waters and has under lease approximately 655,000 gross acres, including approximately 474,000 gross acres on the Gulf of Mexico Shelf and approximately 181,000 gross acres in the Gulf of Mexico deepwater. A majority of the Company's daily production is derived from wells it operates. For more information on W&T, please visit the Company's website at www.wtoffshore.com.
Vertex Energy Announces COO Succession Plan
Vertex Energy Announces COO Succession Plan HOUSTON, TX / ACCESSWIRE / June 14, 2022 / Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that it has named energy industry veteran James Rhame as Chief Operating Officer of Vertex, effective June 10, 2022. Mr. Rhame will succeed John Strickland, who will transition into the newly created role of Vice President, Black Oil Operations, reporting to Mr. Rhame, while continuing to provide both support and advisory to the Company.Mr. Rhame brings more than 40 years of refining and petrochemical management experience, most recently having served as Vice President and General Manager for Motiva Chemical, where he led the integration of the chemicals business into Motiva Enterprises. Mr. Rhame spent nearly ten years with Flint Hills Resources, a wholly-owned subsidiary of Koch Industries, where he served in various senior leadership positions, including Vice President of Olefins and Polymers. Prior to Flint Hills, Mr. Rhame worked with Shell for more than 23 years, where he was involved in several roles supporting its downstream operations, including Production Manager of the Port Arthur Motiva Refinery, the largest producer of fuels and base oils in the United States. Mr. Rhame also provided managerial support to Shell during their ownership of the Mobile refinery, which was acquired by Vertex in April 2022.As COO, Mr. Rhame will oversee all operations of the Company while working to build Vertex into a leading energy transition business, equipped to generate sustained, profitable growth. He will report directly to President and CEO, Benjamin P. Cowart."James is a high-caliber addition to our senior leadership team. His decades of industry experience, commitment to operational excellence, and proven track record of driving strategic development initiatives make him the right person to help lead our business during this next important chapter of growth," stated Mr. Cowart. "As a former Shell executive familiar with our asset base, he will provide a wealth of knowledge and a steady hand as we further integrate the Mobile refinery into our portfolio.""I am honored to join Vertex as its next COO," stated Mr. Rhame, "It is a pivotal moment for the organization, a period of transformation during which we believe we are poised to become a leading independent refiner and producer of conventional and renewable products. Our cultural commitment to safety, accountability and operational excellence, together with our growing portfolio of high-performance energy transition assets, are anticipated to position us to win market share across the markets we serve in the years ahead."ABOUT VERTEX ENERGYHouston-based Vertex Energy, Inc. (NASDAQ:VTNR) is an energy transition company focused on the production and distribution of conventional and alternative fuels. Vertex owns a refinery in Mobile (AL) with an operable refining capacity of 75,000 barrels per day and more than 3.2 million barrels of product storage, positioning it as a leading supplier of fuels in the region. Vertex is also one of the largest processors of used motor oil in the U.S., with operations located in Houston and Port Arthur (TX), Marrero (LA), and Columbus (OH). Vertex also owns a facility, Myrtle Grove, located on a 41-acre industrial complex along the Gulf Coast in Belle Chasse, LA, with existing hydroprocessing and plant infrastructure assets, that include nine million gallons of storage. The Company has built a reputation as a key supplier of base oils to the lubricant manufacturing industry throughout North America.FORWARD-LOOKING STATEMENTSCertain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. The important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the Company's ability to raise sufficient capital to complete planned capital projects at the Mobile Refinery and the terms of such funding; the timing of planned capital projects at the Mobile Refinery and the outcome thereof; the future production of the Mobile Refinery; difficulties and delays in integrating the Mobile Refinery; the estimated timeline of the renewable diesel capital project, estimated and actual production associated therewith, estimated revenues over the course of the agreement with Idemitsu, anticipated and unforeseen events which could reduce future production at the refinery or delay planned capital projects, changes in commodity and credits values, and certain early termination rights associated with the Idemitsu agreement and conditions precedent to such agreement; certain mandatory redemption provisions of Vertex's outstanding senior convertible notes, the conversion rights associated therewith, dilution caused by such conversions, and the Company's ability to comply with required covenants thereunder and pay amounts due under such senior notes, including interest and other amounts due thereunder; the ability of the Company to retain and hire key personnel; risks associated with the ability of Vertex to complete current plans for expansion and growth, and planned capital projects; the level of competition in our industry and our ability to compete; our ability to respond to changes in our industry; the loss of key personnel or failure to attract, integrate and retain additional personnel; our ability to protect our intellectual property and not infringe on others' intellectual property; our ability to scale our business; our ability to maintain supplier relationships and obtain adequate supplies of feedstocks; our ability to obtain and retain customers; our ability to produce our products at competitive rates; our ability to execute our business strategy in a very competitive environment; trends in, and the market for, the price of oil and gas and alternative energy sources; our ability to maintain our relationships with our partners; the impact of competitive services and products; our ability to integrate acquisitions; our ability to complete future acquisitions; our ability to maintain insurance; the outcome of pending and potential future litigation, judgments and settlements; rules and regulations making our operations more costly or restrictive; changes in environmental and other laws and regulations and risks associated with such laws and regulations; economic downturns both in the United States and globally, increases in inflation; risk of increased regulation of our operations and products; negative publicity and public opposition to our operations; disruptions in the infrastructure that we and our partners rely on; an inability to identify attractive acquisition opportunities and successfully negotiate acquisition terms; our ability to effectively integrate acquired assets, companies, employees or businesses; liabilities associated with acquired companies, assets or businesses; interruptions at our facilities; unexpected changes in our anticipated capital expenditures resulting from unforeseen required maintenance, repairs, or upgrades; our ability to acquire and construct new facilities; our ability to effectively manage our growth; decreases in global demand for, and the price of, oil, due to COVID-19, state, federal and foreign responses thereto, inflation, recessions or other reasons, including declines in economic activity or global conflicts; our ability to acquire sufficient amounts of used oil feedstock through our collection routes, to produce finished products, and in the absence of such internally collected feedstocks, and our ability to acquire third-party feedstocks on commercially reasonable terms; unexpected downtime at our facilities; risks associated with COVID-19, the global efforts to stop the spread of COVID-19, potential downturns in the U.S. and global economies due to COVID-19 and the efforts to stop the spread of the virus, and COVID-19 in general; the lack of capital available on acceptable terms to finance the Company's continued growth; anti-dilutive rights associated with our outstanding securities; the expected benefits, output, financial metrics and production of proposed transactions; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; our ability to pay our debt when due and comply with our debt covenants; our level of indebtedness, which could affect our ability to fulfill our obligations, impede the implementation of our strategy, and expose us to interest rate risk; risks related to obtaining required crude oil supplies, and the costs of such supplies; counterparty credit and performance risk; unanticipated problems at, or downtime effecting, our facilities and those operated by third parties; risks relating to our hedging activities; risks relating to planned divestitures and acquisitions; and the expected benefits, output, financial metrics and production of proposed transactions. Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company's publicly filed reports, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and future Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. These reports are available at www.sec.gov. The Company cautions that the foregoing list of important factors is not complete. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on Vertex's future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.CONTACTInvestor Relations720.778.2415IR@vertexenergy.comSOURCE: Vertex Energy, Inc.View source version on accesswire.com: https://www.accesswire.com/705108/Vertex-Energy-Announces-COO-Succession-Plan
2022-2023 Applications for Apache Corporation Tree Grant Program Now Open
2022-2023 Applications for Apache Corporation Tree Grant Program Now Open HOUSTON, June 14, 2022 (GLOBE NEWSWIRE) -- Apache Corporation, a subsidiary of APA Corporation (Nasdaq: APA), today announced the opening of the Apache Corporation Tree Grant Program application for the 2022-2023 planting season. Since the program's launch in 2005, the company has donated more than 4.8 million trees to over 900 nonprofit organizations and government agencies. "Enhancing green spaces, conserving critical habitats and accelerating large scale reforestation projects are meaningful initiatives that highlight the incredible importance of trees to our everyday lives," said John J. Christmann IV, Apache's chief executive officer and president. "As we kick off the 17th year of the Apache Tree Grant Program, we look forward to working with partners across our operating areas who are dedicated to planting and caring for trees where they are most needed." The Apache Tree Grant Program is open to U.S. nonprofit organizations and government agencies in states where Apache has operations currently Texas, New Mexico, Louisiana and Wyoming. Grant recipients must request a minimum of 50 one gallon, three gallon or five gallon trees per project or a minimum of 1,000 bareroot seedlings. Additionally, recipients must agree to receive all awarded trees in a single delivery and are required to provide ongoing care and maintenance of the trees. Grant awards will be announced in September 2022, and all trees must be received and planted or distributed no later than May 31, 2023. Last season, the program donated more than 55,000 trees to 66 nonprofits, including the U.S. Fish and Wildlife Service's Bayou Teche National Refuge in Louisiana and the Exploration Green Conservancy in Texas. Apache partnered with groups such as Tree New Mexico to create greenspaces for underserved communities, supported conservation projects such as the Big Bend Conservation Alliance in West Texas and contributed to wildlife habitat preservation in South Texas through the Friends of the Wildlife Corridor. For more information and to apply to the 2022-2023 Apache Tree Grant Program, please visit www.apachelovestrees.com to submit an application by the Aug. 14, 2022 deadline. To view the Apache Tree Grant Program video and learn more, click here. About Apache Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom. Apache is a wholly-owned subsidiary of APA Corporation. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. APA-T
TortoiseEcofin Announces Constituent Changes Due to Corporate Action
TortoiseEcofin Announces Constituent Changes Due to Corporate Action LEAWOOD, KS / ACCESSWIRE / June 13, 2022 / TortoiseEcofin today announced that Renewable Energy Group Inc (NYSE:REGI) will be removed from the Tortoise Decarbonization Infrastructure IndexSM (DCRBN), Tortoise Recycling Decarbonization IndexSM (RCYCL), and the Tortoise Recycling Decarbonization UCITSSM Index (RECYCLE), as a result of the approved merger with Chevron Corp (NYSE:CVX). Due to the merger, REGI will be removed from all three indices at market open on Wednesday, June 15, 2022.As per index methodology, special rebalancing is not required for any of the three indices and the deleted constituent's weight will be distributed pro-rata to remaining index constituents.About TortoiseEcofinTortoiseEcofin focuses on essential assets - those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.The Tortoise Decarbonization Infrastructure IndexSM is a float-adjusted, capitalization weighted index of decarbonizing infrastructure companies that are organized and have their principal place of business in the United States or Canada. We define a decarbonization infrastructure company as a company that primarily owns natural gas and/ or natural gas liquids infrastructure including pipelines and local distribution companies, electric generation, transmission and distribution, battery storage, electric charging infrastructure, residential rooftop solar facilities and/ or renewable fuels.The Tortoise Recycling Decarbonization IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.The Tortoise Recycling Decarbonization UCITS IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. The Index includes an assessment of environmental, social, and governance (ESG) considerations.Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.The indices mentioned above are the exclusive property of TIS Advisors and is calculated by Solactive AG ("Solactive"). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG ("Solactive") in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.Safe Harbor StatementThis 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.Contact InformationFor more information contact Jen Ashlock at (913) 981-1020 or info@tortoiseecofin.comSOURCE: TortoiseEcofinView source version on accesswire.com: https://www.accesswire.com/704936/TortoiseEcofin-Announces-Constituent-Changes-Due-to-Corporate-Action
GeoPark Limited Announces Extension of Consent Solicitation and Increase of Consent Fee for Its 5.500% Senior Notes Due 2027 and Withdrawal of Consent Solicitation for Its 6.500% Senior Notes Due 2024
GeoPark Limited Announces Extension of Consent Solicitation and Increase of Consent Fee for Its 5.500% Senior Notes Due 2027 and Withdrawal of Consent Solicitation for Its 6.500% Senior Notes Due 2024 BOGOTA, Colombia, Jun. 14 /BusinessWire/ -- GeoPark Limited (NYSE:GPRK) (the "Company") today announced that it has extended the expiration date of its previously announced solicitation of consents (the "Consent Solicitation") from the holders of its 5.500% Senior Notes due 2027 (the "2027 Notes") for the adoption of certain proposed amendments (the "Proposed Amendments") to the indenture governing the 2027 Notes (the "Indenture"). The Proposed Amendments intend to (i) address the impact of adverse market conditions and related drop in the price of crude oil during 2020 on the Company's results, which in turn negatively impacted the restricted payments builder basket as currently in effect, and (ii) increase and reset the general restricted payments basket in the Indenture to provide the Company additional restricted payments capacity, giving the Company additional financial flexibility that is aligned to its improved performance beginning in 2021. The Consent Solicitation, which was previously scheduled to expire at 5:00 p.m., New York City time, on June 15, 2022, will now expire at 5:00 p.m., New York City time, on June 17, 2022, unless further extended (as so extended, the "Extended Expiration Time"). In addition, the Company announced that the consent fee for the Consent Solicitation with respect to the 2027 Notes will be increased so that holders of the 2027 Notes will receive a cash payment equal to $10.00 per $1,000 principal amount of 2027 Notes with respect to which such consents to the Proposed Amendments have been validly delivered prior to the Extended Expiration Time and not validly revoked by such holder. Finally, the Company announced that it has determined to withdraw and terminate its previously announced solicitation of consents from the holders of its 6.500% Senior Notes due 2024 (the "2024 Notes"). All consents delivered and received with respect to the 2024 Notes will be voided and no payment of any consent fee will be made to any holder of the 2024 Notes. The terms of the Consent Solicitation are detailed in the Consent Solicitation Statement, dated June 8, 2022 (as amended, supplemented or otherwise modified, the "Consent Solicitation Statement"). No consent fee will be paid to any holder of 2027 Notes for which the requisite consents have been obtained unless such holder delivers a consent and does not revoke such consent in accordance with the terms of the Consent Solicitation Statement prior to the Extended Expiration Time. Holders of the 2027 Notes who have previously delivered consents do not need to redeliver such consents or take any other action in response to this extension and increase in consent fee with respect to the 2027 Notes. Other holders of the 2027 Notes may deliver their consents in accordance with the instructions provided in the Consent Solicitation Statement at or prior to the Extended Expiration Time. Subject to applicable law, the Company reserves the right, in its sole discretion, to (i) extend, terminate or withdraw the Consent Solicitation at any time or (ii) otherwise amend the Consent Solicitation in any respect, including waiving any or all of the conditions to the Consent Solicitation set forth in the Consent Solicitation Statement, at any time and from time to time. The Company further reserves the right, in its sole discretion, not to accept any deliveries of consents with respect to the 2027 Notes. The Company is making the Consent Solicitation only in those jurisdictions where it is legal to do so. Credit Suisse Securities (USA) LLC is acting as solicitation agent for the Consent Solicitation and can be contacted at Credit Suisse Securities (USA) LLC, Attn: Liability Management Group, Collect: (212) 538-2147 or U.S. Toll Free: (800) 820-1653, with questions regarding the Consent Solicitation. Copies of the Consent Solicitation Statement are available to holders of 2027 Notes from D.F. King & Co., Inc., the information agent, tabulation agent and paying agent for the Consent Solicitation. Requests for copies of the Consent Solicitation Statement should be directed to D.F. King at +1 (800) 967-5084 (toll free), +1 (212) 269-5550 (collect) or geopark@dfking.com. Neither the Consent Solicitation nor any related documents have been filed with the U.S. Securities and Exchange Commission, nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Consent Solicitation Statement or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary. The Consent Solicitation is being made solely on the terms and conditions set forth in the Consent Solicitation Statement. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the 2027 Notes or any other securities of the Company or any of its affiliates. The Consent Solicitation is not being made to, nor will the Company accept deliveries of consents from, holders in any jurisdiction in which the Consent Solicitation or the acceptance thereof would not be in compliance with the securities of blue sky laws of such jurisdiction. This press release also is not a solicitation of consents to the Proposed Amendments to the Indenture. No recommendation is made as to whether holders should deliver their consents with respect to the 2027 Notes. Holders should carefully read the Consent Solicitation Statement because it contains important information, including the various terms and conditions of the Consent Solicitation. ABOUT GEOPARK GeoPark is a leading independent oil and natural gas exploration and production company with operations in Latin America and a proven track record of growth in production and reserves since 2006. GeoPark operates in Colombia, Chile, Brazil and Ecuador. CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. The forward-looking statements contained herein include statements about the consent solicitation. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, GeoPark's business and operations involve numerous risks and uncertainties, many of which are beyond the control of GeoPark, which could result in GeoPark's expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of GeoPark. Some of the factors that could cause future results to materially differ from recent results or those projected in forward-looking statements are described in GeoPark's filings with the United States Securities and Exchange Commission. The forward-looking statements are made only as of the date hereof, and GeoPark does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions on which certain of such forward-looking statements are based, investors should keep in mind that the results, events or developments disclosed in any forward-looking statement made in this document may not occur, and that actual results may vary materially from those described herein, including those described as anticipated, expected, targeted, projected or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20220613005889/en/ back