Shell Midstream Partners, L.P. Declares Distribution of $0.30 Per Limited Partner Common Unit Houston, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) (the "Partnership") announces that the Board of Directors of its general partner declared a cash distribution of $0.30 per limited partner common unit for the fourth quarter of 2021. The distribution will be paid February 11, 2022 to unitholders of record as of February 1, 2022. TAX CONSIDERATIONS This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a U.S. trade or business. Accordingly, all of the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. # # #About Shell Midstream Partners, L.P.Shell Midstream Partners, L.P., headquartered in Houston, Texas, owns, operates, develops and acquires pipelines and other midstream and logistics assets. The Partnership's assets include interests in entities that own (a) crude oil and refined products pipelines and terminals that serve as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and deliver refined products from those markets to major demand centers and (b) storage tanks and financing receivables that are secured by pipelines, storage tanks, docks, truck and rail racks and other infrastructure used to stage and transport intermediate and finished products. The Partnership's assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast. For more information on Shell Midstream Partners, L.P. and the assets owned by the Partnership, please visit www.shellmidstreampartners.com. Inquiries: Shell Media Relations Americas: +1 832 337 4355 Shell Investor Relations North America: +1 832 337 2837 * SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license.
Talos Energy to Announce Fourth Quarter 2021 Results on February 24, 2022 and Host Earnings Conference Call on February 25, 2022 HOUSTON, Jan. 20, 2022 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) intends to release fourth quarter 2021 results for the period ended December 31, 2021 on Thursday, February 24, 2022 after the U.S. financial market closes. In addition to this release, Talos will host a conference call, which will be broadcast live over the internet, on Friday, February 25, 2022 at 10:00 AM Eastern Time (9:00 AM Central Time). Listeners can access the conference call through a webcast link on the Company's website at: https://www.talosenergy.com/investors. Alternatively, the conference call can be accessed by dialing (888) 348-8927 (U.S. toll free), (855) 669-9657 (Canada toll-free) or (412) 902-4263 (international). Please dial in approximately 15 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call. A replay of the call will be available one hour after the conclusion of the conference until March 4, 2022 and can be accessed by dialing (877) 344-7529 and using access code 6660290. ABOUT TALOS ENERGY Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing long-term value through its operations, currently in the United States and offshore Mexico, both upstream through oil and gas exploration and production and downstream through the development of future carbon capture and storage opportunities. As one of the Gulf of Mexico's largest public independent producers, we leverage decades of technical and offshore operational expertise towards the acquisition, exploration and development of assets in key geological trends that are present in many offshore basins around the world. With a focus on environmental stewardship, we are also utilizing our expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information, visit www.talosenergy.com. INVESTOR RELATIONS CONTACT Sergio Maiworm +1.713.328.3008investor@talosenergy.com View original content to download multimedia:https://www.prnewswire.com/news-releases/talos-energy-to-announce-fourth-quarter-2021-results-on-february-24-2022-and-host-earnings-conference-call-on-february-25-2022-301464852.html SOURCE Talos Energy
Evolution Petroleum Announces Acquisition of Non-Operated Assets in the Williston Basin HOUSTON, TX / ACCESSWIRE / January 20, 2022 / Evolution Petroleum (NYSE American:EPM) ("Evolution" or the "Company") announced today the closing of an acquisition of oil-weighted, non-operated oil and natural gas assets in the Williston Basin (the "Transaction"). The Company acquired 50% of certain interests held by privately-owned Foundation Energy Management ("Foundation") in North Dakota in Billings, Golden Valley, and McKenzie counties. The purchase price at closing was $25.9 million, net of preliminary purchase price adjustments. The Transaction had an effective date of June 1, 2021 and closed on January 14, 2022.Transaction HighlightsAddition of approximately 2.3 million barrels of oil equivalent ("MMBOE") (80% oil, 9% natural gas liquids) of long-life producing reserves in a premier U.S. oil-producing basin, using January 14, 2022 strip pricing;Includes an average working interest of approximately 39% in 73 producing wells along with approximately 47,500 net acres (85% held by production) with associated interest in over 400 gross potential drilling opportunities;Incremental cash flow is expected to further support the Company's quarterly dividend;Increased Evolution's net daily production by approximately 10% or 596barrels of oil equivalent per day ("BOEPD"), based on the three months ended September 30, 2021;Acquisition funded from cash on hand and borrowings under the Company's existing senior credit facility;Requires minimal incremental overhead for the Company; andEstablishes a strategic operational relationship with Foundation in which Evolution may propose and fund drilling locations within the asset footprint.Management CommentsJason Brown, President and Chief Executive Officer, commented, "We are pleased to announce this strategic transaction with Foundation, an organization that shares a similar primary goal of generating steady, long-term cash flow for its investors. The Transaction provides Evolution with immediate incremental free cash flow that will be used to further support our current dividend policy. The Transaction also provides direct collaboration and involvement with our operating partner, Foundation, regarding the pace of asset development, including the ability to propose and execute targeted drilling and completion of potential drilling opportunities. This represents a significant increase in potential undeveloped reserves that we anticipate will be supportive of our dividend for many years to come."Brown continued, "With a purchase price based on oil prices much lower than current levels, this acquisition complements our low decline, long-life portfolio and provides a presence in the prolific Williston Basin. We expect to quickly integrate the Transaction with a minimal increase in overhead, similar to our purchase of interests in the Barnett Shale in 2021. We look forward to executing on additional targeted acquisition opportunities that provide immediate benefit to our shareholders and support our long-term strategy of driving increased and sustainable long term dividend payouts."Asset DetailsThe acquired assets consist of 50% of Foundation's interest, an approximately 39% working interest net to Evolution, in 73 producing wells in the Williston Basin in Billings, Golden Valley, and McKenzie counties, North Dakota, which was acquired by Foundation from a private seller in October 2021. The acquisition also included approximately 47,500 net acres with associated 400 potential drilling opportunities. The acquired assets consist of producing reserves of approximately 2.0 million barrels ("MMBls") of liquids and 1,600 million cubic feet of natural gas ("MMcf"), using January 14, 2022 strip pricing. The commodity mix of the assets is 80% oil, 11% natural gas, and 9% natural gas liquids.Evolution anticipates a number of the infill upside locations will be designated proved undeveloped ("PUD") during the Company's year-end reserves evaluation, as limited by the SEC's five-year PUD rule. Evolution expects the acquired drilling locations, of which more than 40 are already permitted and located on existing pads with infrastructure, will be funded out of future cash flow to support production and the Company's dividend. A limited drilling program is not expected to begin until 2023.Foundation, an established operator in the geographic region, will be the operator of the assets. As part of the Purchase and Sale Agreement, Evolution and Foundation have entered into a Joint Development Understanding whereby a working relationship has been established to develop the asset area prudently and in both owners' financial interest. As part of the agreement, Evolution has the ability to both propose and execute drilling locations within the asset footprint.Transaction Consideration and Capital AvailableEvolution funded the transaction from cash on hand and borrowings from the Company's senior credit facility with MidFirst Bank. Effective November 9, 2021, the Company's borrowing base was increased to $50 million, with an elected commitment amount of $40 million. As of December 31, 2021 and prior to the transaction, the Company had approximately $13 million in cash on hand and had $4million drawn under the credit facility. The Company estimates that net debt after giving effect to the Transaction will be well below the Company's targeted maximum of one times pro forma Adjusted EBITDA*. The credit facility agreement requires the Company to enter into hedges covering 25% of oil and natural gas production on a rolling twelve-month basis. In order to retain upside with commodity prices, the Company expects to utilize primarily costless collars.*Adjusted EBITDA is Earnings Before Interest, Taxes, Depreciation and Amortization and is a non-GAAP financial measure. The Company defines Adjusted EBITDA as net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion and amortization (DD&A), stock-based compensation, other amortization and accretion, ceiling test impairment and other impairments, unrealized loss (gain) on change in fair value of derivatives, and other non-cash expense (income) items.About Evolution PetroleumEvolution Petroleum Corporation is an oil and natural gas company focused on delivering a sustainable dividend yield to its shareholders through the ownership, management, and development of producing oil and natural gas properties onshore in the United States. The Company's long-term goal is to build a diversified portfolio of oil and natural gas assets primarily through acquisition, while seeking opportunities to maintain and increase production through selective development, production enhancement, and other exploitation efforts on its properties. Our assets include our non-operated interests in the Barnett Shale in North Texas, a CO2 enhanced oil recovery project in Louisiana's Delhi field, a secondary recovery project in Wyoming's Hamilton Dome field, and our interest in newly acquired properties in the Williston Basin in North Dakota. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at http://www.evolutionpetroleum.com.Cautionary StatementAll forward-looking statements contained in this press release regarding current expectations, potential results and future plans and objectives of the Company involve a wide range of risks and uncertainties. Statements herein using words such as "believe," "expect," "plans," "outlook," "should," "will," and words of similar meaning are forward-looking statements. Although our expectations are based on business, engineering, geological, financial, and operating assumptions that we believe to be reasonable, many factors could cause actual results to differ materially from our expectations and we can give no assurance that our goals will be achieved. These factors and others are detailed under the heading "Risk Factors" and elsewhere in our periodic documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.Company ContactsJason Brown, President & CEORyan Stash, SVP & CFO(713) 935-0122JBrown@evolutionpetroleum.comRStash@evolutionpetroleum.comSOURCE: Evolution Petroleum CorporationView source version on accesswire.com: https://www.accesswire.com/684723/Evolution-Petroleum-Announces-Acquisition-of-Non-Operated-Assets-in-the-Williston-Basin
EIP Launches New Fund to Scale the Boldest Ideas in Climate Tech Backed by One of the World's Largest Industrial Coalitions Focused on Climate Change, EIP's Frontier Fund Targets Revolutionary Technologies to Help the World Reach Net-Zero Emissions NEW YORK, Jan. 20 /BusinessWire/ -- Energy Impact Partners (EIP), a leading global investor in the transition to a sustainable future, announced today the launch of its Deep Decarbonization Frontier Fund (the "Frontier Fund"), targeting early-stage, revolutionary technologies that accelerate the transition to net-zero greenhouse gas emissions. With a target of $350 million, the fund has already received commitments for more than $200 million from both new and existing EIP investors. The Frontier Fund is built on two core principles. First, an unprecedented wave of innovation is coming to help solve the biggest, most challenging problems in deep decarbonization. Second, the demand for zero-carbon energy, products and goods will accelerate market adoption of these new technologies and drive enormous commercial outcomes for the winners. "We are looking for audacious entrepreneurs taking big swings at big problems in climate tech," said Shayle Kann, Partner in the EIP Frontier Fund. "Over the last six years we have built an ecosystem and process to drive innovation in massive, mature and technically complex industries; nowhere is this skillset needed more than the drive toward deep decarbonization." The Frontier Fund has already made numerous investments into pioneers focused on decarbonizing everything from power generation to fertilizer production. Example investments: Form Energy (disruptively cheap multi-day energy storage) Electric Hydrogen (industrial-scale, renewable-powered hydrogen production) Nitricity (zero-emissions nitrogen fertilizer) Carbon America (point-source carbon capture) Zap Energy (economic nuclear fusion) Boston Metal (steel produced from electricity, not coal) Sublime Systems (zero-carbon cement) EIP's in-house research team works closely with its strategic investors - more than 40 leading industrials from the utility, energy, built environment, finance, infrastructure and technology sectors - to identify, invest in and scale disruptive innovation from earliest ideation through commercial success. This unique collaborative model is particularly suited to the deeptech investment challenge, where the collective insights of EIP's ecosystem help navigate complex technical pathways and can significantly accelerate market adoption, as evidenced by more than 200 pilots and partnerships between EIP's 70+ portfolio companies and its strategic investor coalition. This process was central to developing a granular understanding of the future demands of a zero-carbon electricity system, and the need for extremely-low-capex, multi-day energy storage to compensate for long-term fluctuations in renewable generation, resulting in the Frontier Fund's investment in Form Energy, the only company pioneering a solution suited to the market's exact need. Mateo Jaramillo, CEO and Co-founder of Form Energy, said, "EIP is a known leader in the climate tech investment space. The launch of the Frontier Fund exemplifies their bold commitment and innovative approach to enable tomorrow's zero carbon electricity system. Form Energy is extremely pleased to be supported by EIP and to have the ability to join forces with their incredible partner coalition as we work to reshape the global electric system to enable a clean energy future." EIP recently expanded its dedicated Frontier Fund team by adding Ashwin Shashindranath as Investment Partner (previously at Macquarie), Dr. Gregory Thiel, Director of Technology (previously at ARPA-E), and Dr. Michael E. Webber as Chief Technology Officer (Previously CTO and CSO at Engie). "The insights we gain from working with hundreds of our partners' experts and methodically analyzing key climate tech sectors provides actionable insights about which problems need solving and which solutions have the best chances for success," said Dr. Michael E. Webber, EIP's Chief Technology Officer. "With this approach, we think we can help accelerate decarbonization and pick the winning teams and technologies." EIP's strategic partners and investors include leading innovators and industrials from the utility, energy, built-environment, infrastructure, finance and technology sectors: Alliant Energy (NASDAQ:LNT), Ameren Corp. (NYSE:AEE), AvalonBay Communities, Inc. (NYSE:AVB), Avista Corp. (NYSE:AVA), Burns & McDonnell, Duke Energy (NYSE:DUK), EDF Group through its corporate venture arm EDF Pulse Holding, Emera Inc. (TSX:EMA.CA), Entergy Corporation (NYSE:ETR), Evergy Inc. (NYSE:EVRG), FirstEnergy Corp. (NYSE:FE), Fortis Inc. (TSX, NYSE:FTS), Microsoft Climate Innovation Fund (NASDAQ:MSFT), OGE Energy Corp. (NYSE:OGE), Pinnacle West Capital Corporation (NYSE:PNW), Portland General Electric Company (NYSE:POR), PPL Corporation (NYSE:PPL), Public Storage (NYSE:PSA), Southern Company (NYSE:SO), TC Energy Corporation (TSX, NYSE:TRP), The Williams Companies, Inc. (NYSE:WMB) and Xcel Energy (NASDAQ:XEL) among others. For more information about Energy Impact Partners and the Frontier Fund, please visit www.energyimpactpartners.com. About Energy Impact Partners Energy Impact Partners, LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure - and has a team of nearly 60 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and Oslo. For more information about Energy Impact Partners and the Frontier Fund, please visit www.energyimpactpartners.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005296/en/ back
Enbridge Announces Redemption of Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17 CALGARY, AB, Jan. 19, 2022 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it intends to exercise its right to redeem all of its outstanding Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17 ("Series 17 Shares") on March 1, 2022 at a price of $25.00 per Series 17 Share, together with all accrued and unpaid dividends, if any. Beneficial holders who are not directly the registered holders of the Series 17 Shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds. Inquiries from registered shareholders should be directed to Enbridge's Registrar and Transfer Agent, Computershare Investor Services Inc., at 1-800-564-6253 (Canada and United States) or 1-514-982-7555 (Outside North America). About Enbridge Inc. Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which owns approximately 1,766 MW (net) in renewable power capacity in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com. Forward-Looking Information Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge Inc. ("Enbridge" or the "Company") and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries' future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely", "will" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements in this news release include statements regarding the proposed redemption of Enbridge's outstanding Series 17 Shares. Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Assumptions regarding the expected supply of and demand for crude oil, natural gas, NGL and renewable energy, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for the Company's services. Similarly, energy transition, including the drivers and pace thereof, the COVID-19 pandemic, exchange rates, inflation and interest rates impact the economies and business environments in which the Company operates and may impact levels of demand for the Company's services and cost of inputs, and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements. FOR FURTHER INFORMATION PLEASE CONTACT: MediaToll Free: (888) 992-0997Email: media@enbridge.com Investment CommunityToll Free: (800) 481-2804Email: investor.relations@enbridge.com View original content:https://www.prnewswire.com/news-releases/enbridge-announces-redemption-of-cumulative-redeemable-minimum-rate-reset-preference-shares-series-17-301464196.html SOURCE Enbridge Inc.
Geospace Announces Schedule for First-Quarter 2022 Financial Results and Conference Call HOUSTON, Jan. 19 /BusinessWire/ -- Geospace Technologies (NASDAQ:GEOS) today announced that it will release 2022 first-quarter financial results on Tuesday, February 1, 2022 after the market closes. In conjunction with the release, Geospace has scheduled a conference call for Wednesday, February 2, 2022 at 10:00 a.m. Eastern Time (9:00 a.m. Central). WHAT: Geospace Technologies First Quarter 2022 Results Conference Call WHEN: Wednesday, February 2, 2022 at 10:00 a.m. Eastern Time (9:00 a.m. Central) HOW: Live via phone - U.S. participants can dial toll free (877) 876-9176. International participants can dial (785) 424-1670. Please reference the Geospace Technologies conference ID: GEOSQ122 prior to the start of the conference call. For those who cannot listen to the live call, a replay will be available for approximately 60 days and may be accessed through the Investor Relations page. Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security, and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables. View source version on businesswire.com: https://www.businesswire.com/news/home/20220119006065/en/ back
Precision Drilling Corporation 2021 Fourth Quarter and End of Year Results Conference Call and Webcast CALGARY, Alberta, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Precision Drilling Corporation ("Precision") intends to release its 2021 fourth quarter results before the market opens on Thursday, February 10, 2022 and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day. The conference call dial in numbers are 844-515-9176 or 614-999-9312 (International) or a live webcast is accessible on our website at www.precisiondrilling.com An archived version of the webcast will be available for approximately 60 days. An archived recording of the conference call will be available approximately one hour after the completion of the call until February 14, 2022 by dialing 855-859-2056 or 404-537-3406, passcode 8456974. About PrecisionPrecision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as "Alpha™" that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel. Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol "PD" and on the New York Stock Exchange under the trading symbol "PDS." For further information, please contact: Carey Ford, CFASenior Vice President & Chief Financial Officer713.435.6100 800, 525 - 8th Avenue S.W.Calgary, Alberta, Canada T2P 1G1Website: www.precisiondrilling.com
Transaction in Own Shares These share purchases form part of the Company's share buy-back arrangement previously announced on 02 December 2021. In respect of this arrangement, BNP Paribas Exane will make trading decisions in relation to the Company's securities independently of the Company for a period from 02 December 2021 up to and including 28 January 2022.Any such share purchases will be effected within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, Chapter 12 of the Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes ("EU MAR") and EU MAR as "onshored" into UK law from the end of the Brexit transition period (on 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310), from time to time ("UK MAR") and the Commission Delegated Regulation (EU) 2016/1052 ("EU MAR Delegation Regulation") and EU MAR Delegated Regulation as "onshored" into UK law from the end of the Brexit transition period (on 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310), from time to time.In accordance with EU MAR and UK MAR, a full breakdown of the individual trades made by BNP Paribas Exane on behalf of the Company as a part of the buy-back arrangement is detailed below.Enquiries Media International: +44 (0) 207 934 5550 Media Americas: +1 832 337 4355LEI number of Royal Dutch Shell plc: 21380068P1DRHMJ8KU70Classification: Acquisition or disposal of the issuer's own shares Attachment RNS Report SHELL 2022 01 19
Halper Sadeh LLP Investigates VCRA, FLMN, ATVI, HXOH; Shareholders are Encouraged to Contact the Firm NEW YORK, Jan. 19, 2022 /PRNewswire/ -- Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: Vocera Communications, Inc. (NYSE: VCRA) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Stryker Corporation for $79.25 in cash per share. If you are a Vocera shareholder, click here to learn more about your rights and options. Falcon Minerals Corporation (NASDAQ: FLMN) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Desert Peak Minerals. Upon completion of the merger, assuming no adjustments to the equity consideration for Desert Peak's net debt, Desert Peak's equityholders will own approximately 73% and existing Falcon shareholders will own approximately 27% of the combined company. If you are a Falcon shareholder, click here to learn more about your rights and options. Activision Blizzard Inc. (NASDAQ: ATVI) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Microsoft Corp. for $95.00 per share in cash. If you are an Activision shareholder, click here to learn more about your rights and options. Hexion Holdings Corporation (OTC: HXOH) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to affiliates of American Securities LLC for $30.00 per share in cash. If you are a Hexion shareholder, click here to learn more about your rights and options. Halper Sadeh LLP may seek increased consideration, 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.com https://www.halpersadeh.com View original content to download multimedia:https://www.prnewswire.com/news-releases/halper-sadeh-llp-investigates-vcra-flmn-atvi-hxoh-shareholders-are-encouraged-to-contact-the-firm-301463780.html SOURCE Halper Sadeh LLP
SHAREHOLDER REMINDER: The Schall Law Firm Encourages Investors in Amplify Energy Corp. with Losses to Contact the Firm LOS ANGELES, Jan. 19 /BusinessWire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Amplify Energy Corp. ("Amplify" or "the Company") (NYSE: AMPY) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com. The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005632/en/ back
Gran Tierra Energy Announces Corporate Update Total Company Current Average Production of Approximately 30,000 BOPDAchieved 2021 Total Company Average Production of 26,500 BOPD, In-Line with GuidancePaid Down Credit Facility to $67.5 Million as of December 31, 2021, Representing Debt Reduction of $122.5 Million During 2021SASB Report Published CALGARY, Alberta, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce a corporate update. All dollar amounts are in United States ("U.S.") dollars and all production volumes are on a working interest before royalties basis and are expressed in barrels ("bbl") of oil per day ("BOPD"), unless otherwise stated. Highlights 2022 Production Year to Date: Gran Tierra's current average production1 is approximately 30,000 BOPD.2021 Production In-Line with Guidance: Total Company 2021 average production was approximately 26,500 BOPD, in-line with prior guidance.Significant Debt Reduction: Gran Tierra's credit facility has been reduced to a remaining balance of $67.5 million as of December 31, 2021, down $122.5 million or 64% from a balance of $190 million as of December 31, 2020. With forecast 2022 free cash flow2 and recovery of tax receivables, Gran Tierra expects to fully pay off the remaining balance of its credit facility in the first half of 2022.Key Upcoming 2022 Catalysts: At a $70/bbl Brent price, Gran Tierra's 2022 capital program of $220-240 million is expected to generate 2022 cash flow2 of $270-290 million and EBITDA2 of $360-380 million. At an $80/bbl Brent price, the Company forecasts 2022 cash flow2 of $330-350 million and EBITDA2 of $440-460 million. The Company's development program continues to focus on asset optimization, maintaining a low operating cost structure and increasing oil recovery factors across its extensive portfolio. Gran Tierra's 2022 exploration campaign of up to 6-7 wells is expected to be fully-funded from forecast internally generated cash flow2 and is designed to focus on near-field prospects in proven basins with access to infrastructure, providing short cycle times from discovery to bringing production on-stream. Key upcoming catalysts include: Acordionero: Gran Tierra has allocated capital of $70 million towards 2022 development activities for the Acordionero field (14-16 development wells) in the Middle Magdalena Valley Basin. Drilling is expected to commence in the first quarter of 2022 with one rig on the Southwest Pad. Gran Tierra plans to continue to focus on quick-cycle times, thereby driving down drilling and operating costs and increasing oil recovery factors through its waterflood program. Since Gran Tierra acquired Acordionero in 2016, this field has produced approximately 27 million bbl of oil and generated about $1.3 billion in oil and gas sales and $353 million of free funds flow from operations3 (both figures are estimates as of December 31, 2021). Costayaco and Moqueta: Gran Tierra has allocated capital of $40 million and $30 million respectively to the Costayaco (4-5 development wells) and Moqueta (3 development wells) fields in the Putumayo Basin in 2022. The first Costayaco well is scheduled to spud in the first quarter of 2022. The Moqueta work program is expected to commence in the second half of 2022 and is planned to continue into 2023.Ecuador: Gran Tierra expects to drill 2-3 exploration wells in 2022, targeting multi-zone prospects near existing fields with access to infrastructure. Gran Tierra's first exploration well in Ecuador is scheduled to spud in the second quarter of 2022 on the Chanangue Block. Additional 2022 Hedges In-Place Designed To Protect Cash Flows2: The Company recently added to its 2022 hedging program and currently has the following Brent oil price hedges in place: SASB Report Published: Gran Tierra has released its first Sustainability Accounting Standards Board ("SASB") Report. The Company continues to enhance its Environmental, Social and Governance ("ESG") disclosure to drive a stronger understanding of the ESG risks and opportunities that its business faces and seeks to show how the Company is positioning itself to mitigate key risks and capture opportunities. Gran Tierra's SASB report can be accessed here: https://www.grantierra.com/investor-relations/sasb-report. Message to Shareholders Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: "Gran Tierra is in a strong position for the continued development and enhanced oil recovery activities in 2022 to optimize value from each of our assets. In addition, we plan to allocate modest capital to prioritized, high-impact exploration drilling opportunities. Gran Tierra is well-positioned to navigate the current volatile environment with our low base decline, conventional oil asset base and our operational control for capital allocation and timing. Our waterflood programs across all of our assets continue to perform well and we expect another strong year of free cash flow2 from these high quality, low decline assets. " Contact Information For investor and media inquiries please contact: Gary GuidryPresident & Chief Executive Officer Ryan EllsonExecutive Vice President & Chief Financial Officer Rodger TrimbleVice President, Investor Relations +1-403-265-3221 info@grantierra.com 1 Approximate average production over the 17-day period during January 1-17, 2022. 2 "Cash flow" refers to line item "net cash provided by operating activities" under generally accepted accounting principles in the United States of America ("GAAP"). "Free cash flow" is a non-GAAP measure and does not have a standardized meaning under GAAP. Free cash flow is defined as "net cash provided by operating activities" less capital spending. Earnings before interest, taxes and depletion, depreciation and accretion ("EBITDA") is a non-GAAP measure and does not have a standardized meaning under GAAP. Refer to "Non-GAAP Measures" in this press release. 3 In the context of Acordionero, "free funds flow from operations" is a non-GAAP measure and does not have a standardized meaning under GAAP. Refer to "Non-GAAP Measures" in this press release for a description of this non-GAAP measure and a reconciliation to the most directly comparable measure (oil and natural gas sales) calculated and presented in accordance with GAAP. About Gran Tierra Energy Inc. Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional new growth opportunities that would further strengthen the Company's portfolio. The Company's common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company's website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221. Gran Tierra's Securities and Exchange Commission filings are available on the SEC website at http://www.sec.gov. The Company's Canadian securities regulatory filings are available on SEDAR at http://www.sedar.com and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Forward Looking Statements and Legal Advisories: This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). The use of the words "expect", "plan", "can," "will," "should," "guidance," "forecast," "signal," "measures taken to" and "believes", derivations thereof and similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding: the Company's expected future production and free cash flow, the Company's drilling program and the Company's expectations as to debt repayment, the Company's ESG risks and opportunities and its positioning for 2022. The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, pricing and cost estimates (including with respect to commodity pricing and exchange rates), and the general continuance of assumed operational, regulatory and industry conditions in Colombia and Ecuador, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned. Among the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements in this press release are: Gran Tierra's operations are located in South America and unexpected problems can arise due to guerilla activity or local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to local operations; global health (including the ongoing COVID-19 pandemic); global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from a global health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; the risk that current global economic and credit conditions may impact oil prices and oil consumption more than Gran Tierra currently predicts, which could cause Gran Tierra to further modify its strategy and capital spending program; prices and markets for oil and natural gas are unpredictable and volatile; the accuracy of productive capacity of any particular field; geographic, political and weather conditions can impact the production, transport or sale of our products; the ability of Gran Tierra to execute its business plan and realize expected benefits from current initiatives; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the ability to replace reserves and production and develop and manage reserves on an economically viable basis; the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates); the risk profile of planned exploration activities; the effects of drilling down-dip; the effects of waterflood and multi-stage fracture stimulation operations; the extent and effect of delivery disruptions, equipment performance and costs; actions by third parties; the timely receipt of regulatory or other required approvals for our operating activities; the failure of exploratory drilling to result in commercial wells; unexpected delays due to the limited availability of drilling equipment and personnel; volatility or declines in the trading price of our common stock or bonds; the risk that Gran Tierra does not receive the anticipated benefits of government programs, including government tax refunds; Gran Tierra's ability to comply with financial covenants in its credit agreement and indentures and make borrowings under its credit agreement; and the risk factors detailed from time to time in Gran Tierra's periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption "Risk Factors" in Gran Tierra's Annual Report on Form 10-K for the year ended December 31, 2020 and its other filings with the Securities and Exchange Commission. These filings are available on the Securities and Exchange Commission website at http://www.sec.gov and on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are based on certain assumptions made by Gran Tierra based on management's experience and other factors believed to be appropriate. Gran Tierra believes these assumptions to be reasonable at this time, but the forward-looking statements are subject to risk and uncertainties, many of which are beyond Gran Tierra's control, which may cause actual results to differ materially from those implied or expressed by the forward looking statements. In particular, the unprecedented nature of the current economic downturn, pandemic and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact Gran Tierra's business and financial condition. All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. The estimates of future cash flow, net income, free cash flow, recovery of taxes receivable, EBITDA, net cash provided by operating activities (described in this press release as "cash flow"), total capital, certain expenses and costs, debt repayments and debt positions may be considered to be future-oriented financial information or a financial outlook for the purposes of applicable Canadian securities laws. Financial outlook and future-oriented financial information contained in this press release about prospective financial performance, financial position or cash flows are provided to give the reader a better understanding of the potential future performance of the Company in certain areas and are based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available, and to become available in the future. In particular, this press release contains projected financial information for 2022. These projections contain forward-looking statements and are based on a number of material assumptions and factors set out above. Actual results may differ significantly from the projections presented herein. The actual results of Gran Tierra's operations for any period could vary from the amounts set forth in these projections, and such variations may be material. See above for a discussion of the risks that could cause actual results to vary. The future-oriented financial information and financial outlooks contained in this press release have been approved by management as of the date of this press release. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than those for which it is disclosed herein. The Company and its management believe that the prospective financial information has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, the Company's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. See Gran Tierra's press release dated December 9, 2021 for additional information regarding the 2022 guidance referred to herein. Information provided in the Company's SASB report is for informational purposes only. Inclusion of information in such report does not mean the information is material to an investor in the Company's securities or otherwise required to be contained in the Company's SEC reports. Non-GAAP Measures: Gran Tierra is unable to provide forward-looking net income, the GAAP measure most directly comparable to the non-GAAP measures EBITDA, due to the impracticality of quantifying certain components required by GAAP as a result of the inherent volatility in the value of certain financial instruments held by the Company and the inability to quantify the effectiveness of commodity price derivatives used to manage the variability in cash flows associated with the forecasted sale of its oil production and changes in commodity prices. In the context of Acordionero, free funds flow from operations is a non-GAAP measure which does not have a standardized meaning prescribed under GAAP. Management views this supplemental measure as a performance measure. Investors are cautioned that this measure should not be construed as an alternative to Acordionero's oil and natural gas sales (GAAP), net income or loss or other measures of financial performance as determined in accordance with GAAP. Our method of calculating this measure may differ from other companies and, accordingly, may not be comparable to similar measures used by other companies. Acordionero's free funds flow from operations, as presented, is defined as oil and natural gas sales, less operating expenses, transportation expenses and capital. Management believes that Acordionero's free funds flow from operations is a useful supplemental measure for management and investors to analyze financial performance and provides an indication of the results generated by our principal business activities prior to the consideration of other income and expenses. A reconciliation from Acordionero's oil and natural gas sales (GAAP) to free funds flow from operations is provided in the table below: Presentation of Oil and Gas Information References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Gran Tierra's reported production is a mix of light crude oil and medium and heavy crude oil for which there is no precise breakdown since the Company's oil sales volumes typically represent blends of more than one type of crude oil. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of "oil pay" or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume.
Valaris Announces Floater Contract Awards HAMILTON, Bermuda, Jan. 18 /BusinessWire/ -- Valaris Limited (NYSE:VAL) announced today that it has been awarded two one-well contracts with subsidiaries of Murphy Oil Corporation for semisubmersible VALARIS DPS-5. The first contract is in the U.S. Gulf of Mexico and is expected to commence in the third quarter 2022 with a minimum duration of 30 days. This contract has a one-well option with an estimated duration of 90 days. The second contract, offshore Mexico, will commence in direct continuation of the first contract and has an estimated duration of 60 days. About Valaris Limited 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. Cautionary Statements Statements contained in this press release 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. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company's liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company's business and financial condition. In addition to the numerous 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 statements, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20220118006200/en/ back
TechnipFMC Partnership Magnora Offshore Wind is Successful in ScotWind Leasing Round Application NEWCASTLE & HOUSTON, Jan. 18 /BusinessWire/ -- TechnipFMC (NYSE:FTI) (PARIS: FTI) and Magnora ASA (Magnora) are pleased to announce that their partnership, Magnora Offshore Wind AS, has been offered the opportunity to enter into an Option Agreement for the N3 area by the Crown Estate Scotland in the ScotWind leasing round. The planned development will have a total capacity of approximately 500 megawatts (MW), which could power more than 600,000 homes in the United Kingdom. Magnora Offshore Wind is a partnership between TechnipFMC and Magnora, combining TechnipFMC's experience executing large integrated offshore projects and delivering industry leading technologies and Magnora's extensive renewable and offshore project development expertise. One of the core principles of the partnership is local commitment, involving local subcontractors and communities to create long-term value in all project phases in a sustainable and responsible way. Luana Duffé, Executive Vice President, New Energy Ventures at TechnipFMC, commented: "Magnora Offshore Wind is an exciting partnership for TechnipFMC, and we are ready to put our expertise and experience into action following this successful bid. We will build on our core strengths of innovation, integration and collaboration while supporting local communities and developing the local supply chain." Torstein Sanness, Executive Chairman of Magnora ASA, commented: "Magnora Offshore Wind is a young company with ambitions and capabilities. Extensive experience from renewable and offshore energy production creates a strong foundation for succeeding in growing an offshore wind business with significant long-term value creation for society, employees and shareholders. Together with TechnipFMC, we are proud to be given the opportunity to progress our work to develop the ScotWind N3 area." The N3 area is situated in the north-western part of Scotland, 40 kilometers offshore Western Isles. The planned wind farm will cover an area of approximately 100 square kilometers in water depths of 106 to 125 meters, and the concept base for the application is 33 semi-submersible floating wind turbines of 15 MW capacity. The ambition is to achieve Consent in 2026, Final Investment Decision in 2028, and start production in 2030, contributing to achieving Scotland's Net Zero targets, Pathway to 2030. For the ScotWind N3 application, Magnora Offshore Wind has support from three committed experience providers: Stornoway Port Authority, Kishorn Port and DNV. Important Information for Investors and Securityholders Forward-Looking Statement This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words "expect," "believe," "estimated," and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law. About TechnipFMC TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services. With our proprietary technologies and comprehensive solutions, we are transforming our clients' project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions. Organized in two business segments - Subsea and Surface Technologies - we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation. Each of our approximately 20,000 employees is driven by a commitment to our clients' success, and a culture of strong execution, purposeful innovation, and challenging industry conventions. TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC. 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Global Partners Announces Cash Distributions on Series A and B Preferred Units WALTHAM, Mass., Jan. 18 /BusinessWire/ -- Global Partners LP (NYSE:GLP) (the "Partnership") announced today that the Board of Directors (the "Board") of its general partner, Global GP LLC, has declared a cash distribution of $0.609375 per unit ($2.4375 per unit on an annualized basis) on the Partnership's Series A preferred units for the period from November 15, 2021 through February 14, 2022. This distribution will be payable on February 15, 2022 to holders of record as of the opening of business on February 1, 2022. The Board also declared a cash distribution of $0.59375 per unit ($2.375 per unit on an annualized basis) on the Partnership's Series B preferred units for the period from November 15, 2021 through February 14, 2022. This distribution will be payable on February 15, 2022 to holders of record as of the opening of business on February 1, 2022. Non-U.S. Withholding Information This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of GLP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, GLP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. About Global Partners LP With approximately 1,600 locations primarily in the Northeast, Global Partners is one of the region's largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol "GLP." For additional information, visit www.globalp.com. Forward-looking Statements Certain statements and information in this press release may constitute "forward-looking statements." The words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global's current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership's control) including, without limitation, the impact and duration of the COVID-19 pandemic, uncertainty around the timing of an economic recovery in the United States which will impact the demand for the products we sell and the services that we provide, uncertainty around the impact of the COVID-19 pandemic to our counterparties and our customers and their corresponding ability to perform their obligations and/or utilize the products we sell and/or services we provide, uncertainty around the impact and duration of federal, state and municipal regulations related to the COVID-19 pandemic, and assumptions that could cause actual results to differ materially from the Partnership's historical experience and present expectations or projections. For additional information regarding known material factors that could cause actual results to differ from the Partnership's projected results, please see Global's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20220114005357/en/ back
APA Corporation Named to Newsweek's 2022 List of America's Most Responsible Companies HOUSTON, Jan. 18, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) has been named to Newsweek's 2022 list of America's Most Responsible Companies. APA ranks third among upstream energy peers, an increase from sixth in 2021. The final list recognizes the top 500 most responsible companies in the United States, spanning 14 industries. "APA is committed to meeting the world's demand for reliable energy in a cleaner, more sustainable way," said APA CEO and President John J. Christmann IV. "We are grateful to receive this recognition alongside many industry leaders who help contribute to a more responsible world." In 2021, APA announced ESG goals that tied directly to employee compensation. These goals, including the elimination of routine flaring across U.S. onshore operations, were in the areas where the company believes it can have the greatest direct impact: air, water, communities and people. This is the second year in a row that APA has received this award, which is jointly presented by Newsweek and Statista. America's Most Responsible Companies were selected based on publicly available key performance indicators derived from CSR Reports, Sustainability Reports and Corporate Citizenship Reports as well as an independent survey. The KPIs focused on company performance in the environmental, social, and corporate governance areas, while the independent survey asked U.S. citizens about their perception of company activities related to corporate social responsibility. The complete list can be viewed on the Newsweek website, found here. About APA APA Corporation owns consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com. Forward-looking statements This news 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 can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "continues," "could," "estimates," "expects," "guidance," "may," "might," "outlook," "possibly," "potential," "projects," "prospects," "should," "will," "would," and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See "Risk Factors" in Apache's Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on February 25, 2021, and in our quarterly reports on Form 10-Q for a discussion of risk factors that affect our business. Any forward-looking statement made by APA and/or its subsidiaries in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law. Contacts APA-G
TEN, Ltd. to Participate at Capital Link's Corporate Presentation Series ATHENS, Greece, Jan. 18, 2022 (GLOBE NEWSWIRE) -- TEN, Ltd. ("TEN" or the "Company") (NYSE:TNP) a leading diversified crude, product and LNG tanker operator, today announced that it will participate in Capital Link's Corporate Presentation Series. Today, Tuesday, January 18th, 2022, at 11:00 am EST its senior management team will go through a presentation on the company's current operations, business development, growth prospects and outlook of the crude, product and LNG tanker sectors. You can register for the webinar below: Date: Tuesday, January 18, 2022Time: 11:00 am EST Register: Webinar Registration On the registration page, please register for the presentation slated for January 18th, 2022, at 11 am ET. An email confirmation will be sent back and will include the link to the Company presentation. LIVE Q&A SESSION Submitting QuestionsParticipants can submit their questions either during the webinar through the online platform or can email our team at webinars@capitallink.com. 1x1 MEETINGS WITH COMPANY MANAGEMENT Institutional Investors can request follow up meeting(s) with TEN's management through the 1x1 Meetings Section on the Registration Page or by emailing webinars@capitallink.com. ABOUT TENTEN, founded in 1993 is one of the first and most established public shipping companies in the world. TEN's diversified energy fleet currently consists of 71 double-hull vessels totaling 8.0 m dwt. Its newbuilding program includes one suezmax DP2 shuttle tanker and four dual-fuel LNG powered aframax vessels. ABOUT FORWARD-LOOKING STATEMENTSExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. For further information, please contact: CompanyTsakos Energy Navigation Ltd.George SaroglouCOO+30210 94 07 710gsaroglou@tenn.gr Investor Relations / MediaCapital Link, Inc. Nicolas Bornozis Markella Kara+212 661 7566ten@capitallink.com
DAWSON GEOPHYSICAL ANNOUNCES COMPLETION OF TENDER OFFER MIDLAND, Texas, Jan. 18, 2022 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) ("Dawson" or the "Company") announced today the successful completion of the previously announced tender offer (the "Offer") by WB Acquisitions Inc. ("Merger Sub"), a subsidiary of Wilks Brothers, LLC ("Wilks"), for all of the outstanding common stock of the Company (the "Shares"). The Offer expired at the end of the day on January 14, 2022. Merger Sub was advised by American Stock Transfer & Trust Company, LLC, in its capacity as depositary for the Offer, that, as of the expiration of the Offer, a total of 15,285,001 Shares (excluding any Shares tendered pursuant to guaranteed delivery procedures that were not yet delivered in satisfaction of such guarantee), were validly tendered and not validly withdrawn pursuant to the Offer, which, when combined with the 2,094,237 Shares owned by Wilks and its affiliates, represents approximately 73.5% of the Shares outstanding immediately prior to the Expiration Time. In addition, Notices of Guaranteed Delivery were delivered for 342,452 Shares, representing approximately 1.4% of the Shares outstanding immediately prior to the Expiration Time. The total number of Shares tendered, including Shares held by Merger Sub, Wilks and its affiliates, satisfied the minimum condition of 66.67% of the total outstanding Shares and all other conditions to the Offer, as set forth in the Agreement and Plan of Merger, dated October 25, 2021 (as amended, the "Merger Agreement"), among the Company, Merger Sub and Wilks, were also satisfied. Promptly after the expiration of the Offer, Merger Sub accepted for payment all Shares validly tendered and not validly withdrawn pursuant to the Offer. Pursuant to the Merger Agreement, the Company will promptly call a special shareholders meeting in order to seek shareholder approval of the merger of the Company with Merger Sub with the Company surviving as a subsidiary of Wilks (the "Merger"). The proposal to adopt the Merger must be approved by the affirmative vote of at least 80% of the issued and outstanding Shares, and Merger Sub intends to vote all of the Shares it owns, including the Shares acquired in the Offer, in favor of the Merger. About Dawson Dawson Geophysical Company is a leading provider of North American onshore seismic data acquisition services with operations throughout the continental United States and Canada. Dawson acquires and processes 2-D, 3-D and multi-component seismic data solely for its clients, ranging from major oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries. Forward-Looking Statements In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions that statements in this press release which are forward-looking and which provide other than historical information involve risks and uncertainties that may materially affect the Company's actual results of operations. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors. These risks include, but are not limited to, statements regarding the expected consummation of the acquisition, which involve a number of risks and uncertainties, including the satisfaction of closing conditions for the acquisition (such as the approval of at least 80% of the outstanding shares of the capital stock of the Company in order to consummate the second step merger); the possibility that the transaction will not be completed and the Company will be a controlled public company with a limited market for its shares, which could result in the delisting of the Company's shares from Nasdaq and the Company no longer being required to make filings with the U.S. Securities and Exchange Commission (the "SEC"); the impact of general economic, industry, market or political conditions; dependence upon energy industry spending; changes in exploration and production spending by our customers and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of our customers, particularly during extended periods of low prices for crude oil and natural gas; the volatility of oil and natural gas prices; changes in economic conditions; the severity and duration of the COVID-19 pandemic, related economic repercussions and the resulting negative impact on demand for oil and gas; surpluses in the supply of oil and the ability of OPEC+ to agree on and comply with supply limitations; the duration and magnitude of the unprecedented disruption in the oil and gas industry currently resulting from the impact of the foregoing factors, which is negatively impacting our business; the potential for contract delays; reductions or cancellations of service contracts; limited number of customers; credit risk related to our customers; reduced utilization; high fixed costs of operations and high capital requirements; operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees and remote work arrangements; industry competition; external factors affecting the Company's crews such as weather interruptions and inability to obtain land access rights of way; whether the Company enters into turnkey or day rate contracts; crew productivity; the availability of capital resources; disruptions in the global economy; and whether or not the pending transaction with Wilks will be completed. A discussion of these and other factors, including risks and uncertainties, is set forth in the Company's Annual Report on Form 10-K that was filed with the SEC on March 16, 2021 and any subsequent Quarterly Reports on Form 10-Q filed with the SEC, as well as the tender offer documents filed with the SEC by Wilks Brothers, LLC on November 1, 2021, and the Solicitation/Recommendation statement on Schedule 14D-9 filed by the Company on November 1, 2021, each including all amendments thereto. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise. This communication does not constitute a solicitation of any vote or approval. In connection with the Merger, Dawson filed a preliminary proxy statement with the SEC on November 23, 2021. Additionally, Dawson will file other relevant materials with the SEC in connection with the Merger. The materials filed or to be filed by Dawson with the SEC may be obtained free of charge at the SEC's web site at www.sec.gov. Shareholders of Dawson are urged to read the proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed Merger because they contain or will contain important information about the Merger and the parties to the Merger. Dawson and its respective directors and executive officers may be deemed to be participants in the solicitation of proxies of Dawson's shareholders in connection with the proposed Merger. Shareholders may obtain more detailed information regarding the names, affiliations and interests of certain of Dawson's executive officers and directors in the solicitation by reading the proxy statement in connection with the Merger. Information concerning the interests of Dawson's participants in the solicitation, which may, in some cases, be different than those of Dawson's shareholders generally, is or will be set forth in the proxy statement relating to the Merger. View original content:https://www.prnewswire.com/news-releases/dawson-geophysical-announces-completion-of-tender-offer-301462513.html SOURCE Dawson Geophysical Company
Investor Alert: The M&A Class Action Firm Continues Investigating the Merger - VG, TACO, ARNA, UMPQ, LEVL, NES NEW YORK, Jan. 14, 2022 /PRNewswire/ -- Juan Monteverde, founder and managing partner of the class action firm Monteverde & Associates PC (the "M&A Class Action Firm"), a national securities firm rated Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating: Vonage Holdings Corp. (VG) relating to its proposed acquisition by Telefonaktiebolaget LM Ericsson. Under the terms of the agreement, VG shareholders will receive $21.00 in cash per share they own. Click here for more information: https://www.monteverdelaw.com/case/vonage-holdings-corp. It is free and there is no cost or obligation to you.Del Taco Restaurants, Inc. (TACO), relating to its sale to Jack in the Box, Inc. Under the terms of the agreement, TACO shareholders will receive $12.51 in cash per share they own. Click here for more information: https://www.monteverdelaw.com/case/del-taco-restaurants-inc. It is free and there is no cost or obligation to you.Arena Pharmaceuticals, Inc. (ARNA), relating to its merger with Pfizer, Inc. Under the terms of the agreement, ARNA shareholders are expected to receive $100.00 in cash per share they own. Click here for more information: https://www.monteverdelaw.com/case/arena-pharmaceuticals-inc. It is free and there is no cost or obligation to you.Umpqua Holdings Corp. (UMPQ) relating to its proposed acquisition by Columbia Banking System, Inc. Under the terms of the agreement, UMPQ shareholders will receive 0.5958 shares of Columbia per share they own.Level One Bancorp, Inc. (LEVL) relating to its proposed merger with First Merchants Corp. Under the terms of the agreement, LEVL shareholders will receive $10.17 in cash and 0.7167 shares of First Merchants stock per share they own. Click here for more information: https://www.monteverdelaw.com/case/level-one-bancorp-inc. It is free and there is no cost or obligation to you.Nuverra Environmental Solutions, Inc. (NES), relating to its acquisition by Select Energy Services, Inc. Click here for more information: https://www.monteverdelaw.com/case/nuverra-environmental-solutions-inc. It is free and there is no cost or obligation to you.About Monteverde & Associates PC We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018-2020 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. Our firm's recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases. If you own common stock in any of the above listed companies and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341. Contact:Juan E. Monteverde, Esq.MONTEVERDE & ASSOCIATES PCThe Empire State Building350 Fifth Ave. Suite 4405New York, NY 10118United States of Americajmonteverde@monteverdelaw.comTel: (212) 971-1341 Attorney Advertising. (C) 2022 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter. View original content to download multimedia:https://www.prnewswire.com/news-releases/investor-alert-the-ma-class-action-firm-continues-investigating-the-merger--vg-taco-arna-umpq-levl-nes-301461541.html SOURCE Monteverde & Associates PC
ION announces forbearance and amendment related to its revolving credit agreement, forbearance agreement related to its senior secured second priority notes due 2025, and preliminary fourth quarter 2021 revenues of ~$40 million, a 45% increase year-over-year HOUSTON, Jan. 14, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE: IO) Forbearance and Amendment related to Revolving Credit Agreement, Forbearance Agreement related to Senior Secured Second Priority Notes due 2025 ION announced that it has entered into a Forbearance and Fifth Amendment with PNC Bank, National Association ("PNC"), under its Revolving Credit and Security Agreement dated August 22, 2014 (as amended, the "Credit Agreement"), pursuant to which PNC has agreed to waive, through and including February 15, 2022, a cross default that would have occurred under the Credit Agreement as ION has not yet paid the scheduled interest payment due on December 15, 2021, on its 8.00% Senior Secured Second Priority Notes due 2025 (the "2025 Notes") prior to the expiration of the 30-day grace period under the 2025 Notes indenture. In addition, ION also announced that it had entered into agreements with holders of more than 79% of its 2025 Notes to forbear until February 15, 2022 from enforcing their rights and remedies arising as a result of ION's failure to make the December 15, 2021 interest payment due on the 2025 Notes. The forbearances are subject to the terms and conditions of the relevant agreements with PNC and the note holders, which are described in more detail in our current report on Form 8-K filed with the SEC. ION remains in continuing discussions with PNC and the holders of its 2025 Notes and other indebtedness regarding various strategic alternatives to strengthen its financial position and maximize stakeholder value. These strategic alternatives include, among others, a sale or business combination transaction or sales of assets, any of which may be executed as part of an in-court or out-of-court restructuring process. Preliminary fourth quarter 2021 revenues of ~$40 million, a 45% increase year-over-year ION also announced that the Company expects fourth quarter 2021 revenues to be approximately $40 million, an increase of 45% year-over-year. While expected fourth quarter 2021 revenues declined by 10% sequentially, second half fiscal year revenues delivered an increase of approximately 150% over the first half year's revenues. "Fourth quarter revenues improved year-over-year, consistent with our expectations of momentum building from our growing data library and maritime digitalization strategy," said Chris Usher, ION's President and Chief Executive Officer. "Sales of the latest phases of our Brazil 3D reprocessing program, Picanha, illustrate the value clients ascribe to this program which now tops over 150,000 contiguous square kilometers in the Campos and Santos basins. The third and fully underwritten extension of our new 3D program in the North Sea has concluded acquisition for the season. Our traditional BasinSPAN 2D programs continue to demonstrate resilience through sales in Africa and Brazil, despite the pullback in exploration spending. And lastly, our software business continues to expand into new markets. On December 17, 2021, we announced awards for MarlinTM in the areas of simultaneous operations and country-scale port management. Our latest contract is for a five-year deployment of Marlin to optimize offshore logistics in the Asia Pacific region for a supermajor." About ION Leveraging innovative technologies, ION delivers powerful data-driven decision-making to offshore energy and maritime operations markets, enabling clients to optimize investments and results through access to our data, software and distinctive analytics. Learn more at iongeo.com. The information herein contains certain 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 forward-looking statements may include information and other statements that are not of historical fact. Actual results may vary materially from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include the risks associated with the timing and development of ION Geophysical Corporation's products and services; pricing pressure; decreased demand; changes in oil prices; agreements made or adhered to by members of OPEC and other oil producing countries to maintain production levels; the COVID-19 pandemic; the ultimate benefits of our completed restructuring transactions; political, execution, regulatory, and currency risks; the outcome or changes, if any, of our consideration of various strategic alternatives; and the impact to our liquidity in the current uncertain macroeconomic environment. For additional information regarding these various risks and uncertainties, see our Form 10-K for the year ended December 31, 2020, filed on February 12, 2021, and our Forms 10-Q for the quarters ended March 31, 2021, June 30, 2021, and September 30, 2021, filed on May 6, 2021, August 12, 2021, and November 3, 2021, respectively. Additional risk factors, which could affect actual results, are disclosed by the Company in its filings with the Securities and Exchange Commission (SEC), including its Form 10-K, Form 10-Qs and Form 8-Ks filed during the year. The Company expressly disclaims any obligation to revise or update any forward-looking statements.
Camber Energy Discloses Communication From NYSE American HOUSTON, TX / ACCESSWIRE / January 14, 2022 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company, announced that on January 14, 2022 it received a letter from the NYSE American(the "Exchange") in response to the Company's request for an extension of the date by which the Company is to file outstanding financial reports.The Company is not in compliance with the Exchange's continued listing standards as set forth in Section 1007 of the NYSE American Company Guide(the "Company Guide") given the Company failed to timely file (the "Filing Delinquency") the following reports (collectively, the "Delayed Reports"): (i) Form 10-K for the 9-month transition period ended December 31, 2020; (ii) Form 10-Q for the period ended March 31, 2021; (iii) Form 10-Q for the period ended June 30, 2021; and (iv) Form 10-Q for the period ended September 30, 2021. The Filing Delinquency will be cured via the filing of the Delayed Reports.The Company intended to remedy the Filing Delinquency on or before January 14, 2022, however due to certain circumstances requested the Exchange grant the Company a brief extension of time by which to file the Delayed Reports. The Exchange accepted the Company's request and has allowed the Company until February 15, 2022 to file the Delayed Reports.If the Company is unable to cure the delinquency by February 15, 2022, the Company may request an additional extension up to the maximum cure period of May 20, 2022. NYSE Regulation staff will review the Company periodically for compliance with adherence to the milestones in the plan. In addition, if the Company does not make progress consistent with the plan during the plan period or if the Company does not complete its Delayed Filings and any subsequently delayed filings with the SEC by the end of the maximum12-month cure period on May 20, 2022, Exchange staff will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.Receipt of the letter does not have any immediate effect on the listing of the Company's shares on the Exchange, except that until the Company regains compliance with the Exchange's listing standards, a "BC" indicator will be affixed to the Company's trading symbol. The Company's business operations and SEC reporting requirements are unaffected by the notification, provided that if the Filing Delinquency is not cured then the Company will be subject to the Exchange's delisting procedures.The Company is committed to filing the Delayed Reports to achieve compliance with the Exchange's requirements, and, although there are no guarantees it will do so, the Company expects to file the Delayed Reports on or before February 15, 2022.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. 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/683619/CamberEnergyDisclosesCommunicationFromNYSEAmerican