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Precision Drilling Meets 2024 Debt Repayment and Share Repurchase Targets and Provides Capital Allocation, Financial and Operational Updates
Precision Drilling Meets 2024 Debt Repayment and Share Repurchase Targets and Provides Capital Allocation, Financial and Operational Updates This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release. CALGARY, Alberta, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (Precision or the Company) (TSX:PD; NYSE:PDS) is pleased to provide a series of positive announcements including: 1) 2024 debt repayment and year end liquidity update; 2) capital allocation framework update; and 3) financial and operational update. 2024 Debt Repayment and Year End Liquidity Update Precision reduced debt by $176 million in 2024, achieving the mid-point of its debt reduction target range. As at December 31, 2024, Precision's outstanding debt obligations included: US$160 million - 7.125% unsecured senior notes due January 15, 2026US$400 million - 6.875% unsecured senior notes due January 15, 2029US$12 million drawn on the Senior Credit Facility The Company ended 2024 with a cash balance of approximately $74 million, compared to $54 million at year end 2023, and total available liquidity of approximately $575 million. Capital Allocation Framework Update Precision remains firmly committed to its long-term debt reduction target of repaying $600 million between 2022 and 2026 and reaching a sustained Net Debt to Adjusted EBITDA leverage ratio1 of below 1.0 times. Over the past three years, we have reduced our debt by $435 million and lowered our Net Debt to Adjusted EBITDA leverage ratio, which we expect to be approximately 1.4 times as at December 31, 2024. During 2024, Precision returned $75 million to shareholders through share repurchases under its Normal Course Issuer Bid and as at December 31, 2024 had 13,779,502 shares outstanding, compared to 14,336,539 as at December 31, 2023, a decrease of 4%. Since 2015, Precision has prioritized its capital allocation plans, allocating $1.5 billion of its free cash flow to debt repayments and share buybacks, while investing $1.3 billion in its fleet and completing two acquisitions. As at December 31, 2024, our annual run rate interest expense is approximately US$40 million compared to US$104 million in 2016. With a strong free cash flow outlook in 2025, we plan to further reduce our debt while increasing our share buyback allocation. In February, we will provide specific capital allocation plans and targets for 2025. 1. Net Debt to Adjusted EBITDA leverage ratio is a Non-GAAP measure. Please refer to page 41 of Precision's Annual Report for the year ended December 31, 2023 for more information. Financial and Operational Update Financial Results Precision intends to release its 2024 fourth quarter results after markets close on Wednesday, February 12, 2025. Fourth quarter drilling field margins in Canada and the U.S. are expected to align with previous guidance. With a closing share price of $87.92 on December 31, 2024, share based compensation expense for the fourth quarter and full year is expected to be approximately $15 million and $47 million, respectively, which also aligns with previous guidance. Operational Activity In Canada, Precision continues to experience strong customer demand for drilling services, particularly when AlphaTM technologies and EverGreenTM environmental solutions are included. While some customers deferred fourth quarter drilling plans to January, our average active rig count remained robust at 65. We currently have 78 rigs active and expect our rig count to peak between the low to mid-80s during this winter drilling season, with our Super Triple and Super Single fleets nearly fully utilized. In the U.S., we averaged 34 rigs in the fourth quarter and have 32 rigs operating today with an additional four rigs earning standby revenue. We expect industry and Precision's active rig count to remain relatively steady in the mid 30s for the first half of 2025. Internationally, Precision continues to have eight active rigs, with three in the Kingdom of Saudi Arabia and five in Kuwait. Our international operations provide a stable foundation for earnings and cash flow as our rigs are under long-term contracts that extend into 2028. As we enter 2025, we expect continued high activity levels for our Well Service business. 85 to 100 crews are projected to be operational in early January, with additional crews expected to be deployed after that. CFO Quote Carey Ford, Precision's CFO, commented, "Precision generated robust free cash flow in 2024 driven by increased activity and margin progression in Canada, integration of our CWC Energy Services acquisition, and international growth. With a strong free cash flow outlook, we plan to improve our capital returns to shareholders in 2025 by continuing to reduce our debt and increasing the percentage of free cash flow returned directly to shareholders. I am proud of our people's commitment to Precision's High Performance, High Value strategy, delivering exceptional services to our customers, and increasing value for our shareholders." About Precision Precision 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 AlphaTM that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreenTM suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations. 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". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS Certain statements contained in this report, including statements that contain words such as "could", "should", "can", "anticipate", "estimate", "intend", "plan", "expect", "believe", "will", "may", "continue", "project", "potential" and similar expressions and statements relating to matters that are not historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking information and statements"). In particular, forward-looking information and statements include, but are not limited to, the following: anticipated future activity levels;anticipated free cash flow; andour future debt reduction and shareholder capital return plans. These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things: the fluctuation in oil prices may pressure customers into reducing or limiting their drilling budgets;the status of current negotiations with our customers and vendors;customer focus on safety performance;existing term contracts are neither renewed nor terminated prematurely;continued market demand for Super Spec series rigs;our ability to deliver rigs to customers on a timely basis;the general stability of the economic and political environments in the jurisdictions where we operate; andthe impact of an increase/decrease in capital spending. Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to: the business, operational and/or financial performance or achievements of Precision may be materially different from that currently anticipated;volatility in the price and demand for oil and natural gas;fluctuations in the level of oil and natural gas exploration and development activities;fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services;our customers' inability to obtain adequate credit or financing to support their drilling and production activity;changes in drilling and well servicing technology, which could reduce demand for certain rigs or put us at a competitive advantage;shortages, delays and interruptions in the delivery of equipment supplies and other key inputs;liquidity of the capital markets to fund customer drilling programs;availability of cash flow, debt and equity sources to fund our capital and operating requirements, as needed;the impact of weather and seasonal conditions on operations and facilities;competitive operating risks inherent in contract drilling, well servicing and ancillary oilfield services;ability to improve our rig technology to improve drilling efficiency;general economic, market or business conditions;the availability of qualified personnel and management;a decline in our safety performance which could result in lower demand for our services;changes in laws or regulations, including changes in environmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and GHG emissions, which could have an adverse impact on the demand for oil and natural gas;terrorism, social, civil and political unrest in the foreign jurisdictions where we operate;fluctuations in foreign exchange, interest rates and tax rates; andother unforeseen conditions which could impact the use of services supplied by Precision and Precision's ability to respond to such conditions. Readers are cautioned that the foregoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision's Annual Information Form for the year ended December 31, 2023, which may be accessed on Precision's SEDAR+ profile at www.sedarplus.ca or under Precision's EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this news release are made as of the date hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law. Additional Information For further information about Precision, please visit our website at www.precisiondrilling.com or contact: Lavonne Zdunich, CPA, CAVice President, Investor Relations403.716.4500 800, 525 - 8th Avenue S.W. Calgary, Alberta, Canada T2P 1G1Website: www.precisiondrilling.com
Williams Prices $1.5 Billion of Senior Notes
Williams Prices $1.5 Billion of Senior Notes TULSA, Okla., Jan. 06 /BusinessWire/ -- Williams (NYSE:WMB) announced today that it has priced a public offering of $1.0 billion of its 5.600% Senior Notes due 2035 at a price of 99.843 percent of par and $500 million of its 6.000% Senior Notes due 2055 at a price of 99.330 percent of par. The expected settlement date for the offering is January 9, 2025, subject to the satisfaction of customary closing conditions. Williams intends to use the net proceeds of the offering to repay its commercial paper, near-term debt maturities and for other general corporate purposes. Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering. This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. An automatic shelf registration statement relating to the notes was previously filed with the Securities and Exchange Commission (the "SEC") and became effective upon filing. Before you invest, you should read the prospectus in the registration statement and other documents Williams has filed with the SEC for more complete information about Williams and the offering. A copy of the prospectus supplement and prospectus relating to the offering may be obtained on the SEC website at www.sec.gov or from any of the underwriters by contacting: Deutsche Bank Securities Inc. 1 Columbus Circle New York, New York 10019 Attention: Prospectus Group Email: Prospectus.Ops@db.com J.P. Morgan Securities LLC 383 Madison Ave New York, New York 10179 Attention: Investment Grade Syndicate Desk Phone: (212) 834-4533 Mizuho Securities USA LLC 1271 Avenue of the Americas New York, New York 10020 Toll-free: 1-866-271-7403 Morgan Stanley & Co. LLC 1585 Broadway New York, New York 10036 About Williams Williams (NYSE: WMB) is a trusted energy industry leader committed to safely, reliably, and responsibly meeting growing energy demand. We use our 33,000-mile pipeline infrastructure to move a third of the nation's natural gas to where it's needed most, supplying the energy used to heat our homes, cook our food and generate low-carbon electricity. For over a century, we've been driven by a passion for doing things the right way. Today, our team of problem solvers is leading the charge into the clean energy future - by powering the global economy while delivering immediate emissions reductions within our natural gas network and investing in new energy technologies. Portions of this document may constitute "forward-looking statements" as defined by federal law. Although Williams believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in Williams' annual and quarterly reports filed with the SEC. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106229864/en/ back
ICAHN ENTERPRISES L.P. AND ICAHN ENTERPRISES HOLDINGS L.P. ANNOUNCE EXTENSION OF TENDER OFFER FOR UP TO 17,753,322 SHARES OF COMMON STOCK OF CVR ENERGY
ICAHN ENTERPRISES L.P. AND ICAHN ENTERPRISES HOLDINGS L.P. ANNOUNCE EXTENSION OF TENDER OFFER FOR UP TO 17,753,322 SHARES OF COMMON STOCK OF CVR ENERGY SUNNY ISLES BEACH, Fla., Jan. 6, 2025 /PRNewswire/ -- Icahn Enterprises L.P. (NASDAQ: IEP) ("IEP"), and Icahn Enterprises Holdings L.P. ("IEH"), today announced that the expiration time of its cash tender offer for up to 17,753,322 shares of CVR Energy, Inc.'s (NYSE: CVI) ("CVR Energy") common stock, par value $0.01 per share, at a price per share of $18.25 (the "Offer"), has been extended from one minute after 11:59 p.m., New York City time, on January 6, 2025 to 5:00 p.m., New York City time, on January 8, 2025. All other terms and conditions of the Offer remain unchanged, and IEP and IEH do not intend to further extend the Offer, increase the price of the Offer or otherwise change any of the terms or conditions with respect to the Offer. The full terms and conditions of the Offer are discussed in the Offer to Purchase, dated December 6, 2024 (the "Offer to Purchase"), and the associated Letter of Transmittal and other materials relating to the Offer that were filed with the Securities and Exchange Commission (the "SEC") and distributed to CVR Energy's stockholders. Broadridge Corporate Issuer Solutions, LLC, the depositary and paying agent for the Offer, has informed IEP that as of 6:00 p.m., New York City time, on January 6, 2025, approximately 960,479 shares have been tendered in the Offer, including 700,244 shares tendered by guaranteed delivery. The number of shares tendered may change significantly prior to the expiration time. None of CVR Energy, the Special Committee - Strategic of its Board, IEP or IEH or their affiliates, the information agent nor the depositary and paying agent, are making any recommendation to stockholders as to whether to tender or refrain from tendering their shares in the Offer. Stockholders must decide how many shares they will tender. In doing so, stockholders should read carefully the information in the Offer to Purchase and the other offer documents. D.F. King & Co., Inc. is serving as Information Agent for the Offer. Copies of the Offer to Purchase, Letter of Transmittal and other related materials are available free of charge from D.F. King & Co., Inc., toll free at (866) 207-3626 or via email at CVREnergy@dfking.com, or on the SEC's website, at www.sec.gov. CVR Energy's other public filings with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, are also available for free on the SEC's website at www.sec.gov. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO PURCHASE, OR A SOLICITATION OF AN OFFER TO SELL, ANY SECURITIES. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY. THE OFFER IS MADE ONLY PURSUANT TO THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS THAT IEH HAS DISTRIBUTED TO CVR ENERGY'S STOCKHOLDERS. IEH HAS FILED A TENDER OFFER STATEMENT ON SCHEDULE TO WITH THE SEC. CVR ENERGY'S STOCKHOLDERS SHOULD READ THESE MATERIALS AND THE DOCUMENTS INCORPORATED THEREIN BY REFERENCE CAREFULLY AND IN THEIR ENTIRETY BEFORE MAKING ANY DECISION WITH RESPECT TO THE OFFER AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER. About CVR Energy Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the renewables, petroleum refining and marketing businesses as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP. CVR Energy subsidiaries serve as the general partner and own approximately 37% of the common units of CVR Partners, LP. About IEP and IEH Icahn Enterprises L.P. (NASDAQ: IEP), a master limited partnership, is a diversified holding company owning subsidiaries currently engaged in the following continuing operating businesses: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma. Icahn Enterprises Holdings L.P. ("IEH") is a Delaware limited partnership. IEP owns a 99% limited partner interest in IEH, and each of IEP and IEH are indirectly controlled by Carl C. Icahn. Cautionary Statement Regarding Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the Offer and the anticipated benefits thereof, and the terms of the related tender offer agreement. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Offer or the business of CVR Energy could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements regarding the expected benefits and costs of the Offer; the expected timing of the completion of the Offer; the ability of IEP to complete the Offer considering the various conditions to the Offer, some of which are outside the parties control; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the Offer may not be timely completed, if at all; that, prior to the completion of the transaction, CVR Energy's business may not perform as expected due to transaction-related uncertainty or other factors; and other risks that are described in CVR Energy's latest Annual Report on Form 10-K and its other filings with the SEC. IEP does not intend to update you concerning any future revisions to any forward-looking statements to reflect events or circumstances occurring after the date of this press release, except to the extent necessary to amend and promptly disseminate revised information in the event that our existing disclosure regarding the Offer materially changes or as otherwise required by law or applicable rule or regulation. Investor Contact:Ted Papapostolou, Chief Financial OfficerIR@ielp.com(800) 255-2737 View original content:https://www.prnewswire.com/news-releases/icahn-enterprises-lp-and-icahn-enterprises-holdings-lp-announce-extension-of-tender-offer-for-up-to-17-753-322-shares-of-common-stock-of-cvr-energy-302343566.html SOURCE Icahn Enterprises L.P.
Phillips 66 to grow Permian midstream business with EPIC NGL acquisition
Phillips 66 to grow Permian midstream business with EPIC NGL acquisition HOUSTON, Jan. 06 /BusinessWire/ -- Phillips 66 (NYSE:PSX) announced today that it has entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids pipelines, fractionation facilities and distribution systems ("EPIC NGL") for total cash consideration of $2.2 billion, subject to customary purchase price adjustments. Upon closing, this transaction is expected to be immediately accretive to earnings per share. "This transaction bolsters Phillips 66's position as a leading integrated downstream energy provider," said Mark Lashier, chairman and CEO of Phillips 66. "This transaction optimizes our Permian NGL value chain, allows Phillips 66 to provide producers with comprehensive flow assurance, reaching fractionation facilities near Corpus Christi, Sweeny, and Mont Belvieu, Texas, and is expected to deliver attractive returns in excess of our hurdle rates." The EPIC NGL business consists of two fractionators (170 MBD) near Corpus Christi, Texas, approximately 350 miles of purity distribution pipelines and an approximately 885-mile NGL pipeline (175 MBD) linking production supplies in the Delaware, Midland and Eagle Ford basins to such fractionation complexes and to the Phillips 66 Sweeny Hub. EPIC NGL is in the process of increasing its pipeline capacity to 225 MBD and has sanctioned a second expansion to increase capacity to 350 MBD. Phillips 66 does not expect to increase its recently announced 2025 capital program in connection with that expansion. EPIC NGL has also identified a third fractionation facility that could bring its fractionation capacity up to 280 MBD. The facilities connect Permian production to Gulf Coast refiners, petrochemical companies, and export markets and will be highly integrated with the Phillips 66 asset base. The transaction is subject to customary closing conditions, including required regulatory clearance. For more information on EPIC Midstream, please visit their website. About Phillips 66 Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn. Cautionary Statement for the Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995 -This news release contains forward-looking statements within the meaning of the federal securities laws. Words such as "anticipated," "estimated," "expected," "planned," "scheduled," "targeted," "believe," "continue," "intend," "will," "would," "could," "objective," "goal," "project," "efforts," "strategies" and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management's expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the company's ability to consummate the announced transaction; potential delays in consummating the announced transaction, including as a result of regulatory approvals; that the regulatory approvals required for the announced transaction may not be obtained on the terms expected or on the anticipated schedule or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement relating to the announced transaction; the possibility that Phillips 66 may not fully realize the expected benefits of the announced transaction; changes in the anticipated timing for closing the announced transaction; the risk that any announcements relating to the announced transaction could have adverse effects on the market price of Phillips 66's common stock; the risk of any unexpected costs or expenses resulting from the announced transaction; the risk of litigation and/or regulatory actions related to the announced transaction; changes in governmental policies or laws that relate to the company's operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of the company's products or feedstocks, or other regulations that restrict feedstock imports or product exports; the company's ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for renewable fuels; potential liability from pending or future litigation; liability for remedial actions, including removal and reclamation obligations under existing or future environmental regulations; unexpected changes in costs for constructing, modifying or operating the company's facilities; the company's ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that we have announced or may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected difficulties in manufacturing, refining or transporting the company's products; the level and success of drilling and production volumes around the company's midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for the company's products; failure to complete construction of capital projects on time or within budget; the company's ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact the company's ability to repurchase shares and declare and pay dividends; potential disruption of the company's operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the Russia-Ukraine war), expropriation of assets, and other diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to the company's asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to the company's business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting the company's businesses generally as set forth in Phillips 66's filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106603374/en/ back
Hess Named to Dow Jones Sustainability Index and Wall Street Journal's List of Top 250 Best Managed Companies
Hess Named to Dow Jones Sustainability Index and Wall Street Journal's List of Top 250 Best Managed Companies NEW YORK, Jan. 06 /BusinessWire/ -- Hess Corporation (NYSE:HES) has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the 15th consecutive year and for the third time has been included in the Dow Jones Sustainability World Index (DJSI World), which highlights global sustainability leaders identified by S&P Global through its Corporate Sustainability Assessment. Only the most sustainable companies are considered each year for DJSI membership. This year, Hess is the only North American oil and gas producer listed on DJSI World and one of only four oil and gas companies included in DJSI North America. In addition, Hess has been named to the Wall Street Journal's annual ranking of the Top 250 Best Managed Companies of 2024 and ranked 8th overall for social responsibility. The annual ranking measures corporate management effectiveness in five areas -- customer satisfaction, employee engagement and development, innovation, social responsibility and financial strength -- based on an analysis of 35 data inputs provided by 16 third-party sources. The full list and methodology are available here. "We are honored to continue to be recognized for our strong sustainability performance and commitment to social responsibility," said Alex Sagebien, Vice President, Environment, Health and Safety. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. For more information about sustainability at Hess, including annual Sustainability Reports, please visit www.hess.com/sustainability. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106860422/en/ back
ONEOK Announces Two New Executive Leadership Appointments
ONEOK Announces Two New Executive Leadership Appointments TULSA, Okla., Jan. 6, 2025 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced two executive leadership appointments, both of which are effective immediately. Randy N. Lentz, chief executive officer and founder of Medallion Midstream, is assuming the newly created position of executive vice president and chief operating officer. In this role, Lentz is responsible for all of ONEOK's asset operations. Sheridan C. Swords, previously executive vice president, commercial liquids and natural gas gathering and processing, is assuming the newly created position of executive vice president and chief commercial officer. In addition to his previous responsibilities, Swords now also oversees the Natural Gas Pipelines segment. "We are pleased to announce Randy's and Sheridan's new roles," said Pierce H. Norton II, president and chief executive officer of ONEOK. "Their extensive experience in the industry and leadership will be invaluable to our company as we continue our intentional and disciplined approach to building a diversified, fully integrated, energy infrastructure company." Swords will continue to report to Norton as will Lentz. At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram. Analyst Contact: Andrew Ziola 918-588-7683 Media Contact: Alicia Buffer 918-861-3749 View original content to download multimedia:https://www.prnewswire.com/news-releases/oneok-announces-two-new-executive-leadership-appointments-302343476.html SOURCE ONEOK, Inc.
MV Oil Trust Announces Trust Fourth Quarter Distribution
MV Oil Trust Announces Trust Fourth Quarter Distribution HOUSTON, Jan. 06 /BusinessWire/ -- MV Oil Trust (NYSE:MVO) announced the Trust distribution of net profits for the quarterly payment period ended December 31, 2024. Unitholders of record on January 16, 2025 will receive a distribution amounting to $2,760,000 or $0.240 per unit payable January 24, 2025. Volumes, average price and net profits for the payment period were: This press release contains forward-looking statements. Although MV Partners, LLC ("MV Partners") has advised the Trust that MV Partners believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended December 31, 2024. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106482447/en/ back
EDF Renewables North America and Enbridge Announce Commercial Operation of Fox Squirrel Solar
EDF Renewables North America and Enbridge Announce Commercial Operation of Fox Squirrel Solar SAN DIEGO & CALGARY, Alberta, Jan. 06 /BusinessWire/ -- EDF Renewables North America and Enbridge Inc, a leading North American energy infrastructure company (TSX:ENB.CA) (NYSE:ENB), today announced that the Amazon Solar Farm Ohio - Fox Squirrel Solar project achieved full operational status in December 2024, with all three phases now actively delivering electricity to the PJM grid. Fox Squirrel Solar, a ground-mounted solar facility with total capacity of 577 MWac/749 MWdc, is one of the largest utility-scale solar developments east of the Mississippi River. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250106148846/en/Fox Squirrel Solar in Central Ohio generates solar energy for Amazon. (Photo: Business Wire) Developed by EDF Renewables and owned in partnership with Enbridge, Fox Squirrel Solar will help address the growing energy needs of central Ohio. Located in Madison County, Fox Squirrel Solar's 1.4 million panels and 159 inverters represent the largest onshore renewable energy project developed and built by EDF Renewables North America. During peak construction, about 650 workers were onsite installing approximately 10,000 panels per day adding up to nearly 1.5 million work hours. The full generation capacity will be delivered to Amazon (NASDAQ:AMZN) through power purchase agreements, which will help contribute to Amazon's Climate Pledge commitment. As renewable energy commitments are increasingly embraced by corporations, solar projects like Fox Squirrel will help Ohio realize its goal of continuing to attract business and increasing economic growth in the state. "We are delighted to announce the completion of EDF Renewables' largest energy investment in North America - Fox Squirrel Solar," commented Kate O'Hair, Senior Vice President for Onshore Development at EDF Renewables North America. "This project is a shining example of the power of partnerships between landowners, the local community and our project partners all working together towards a sustainable future. Our development partner, Geenex Solar, has been instrumental in making this project a reality. Fox Squirrel has brought hundreds of jobs and millions of dollars to Madison County throughout the development and construction phase. As we transition into the operational phase, we are committed to continuing to be a responsible and reliable neighbor and strengthening our environmental and community stewardship." "We are excited to celebrate the completion of the final phase of Fox Squirrel Solar, a key milestone in our expanded strategic partnership with EDF Renewables," said Tom Carbone, Vice President, Power Business Development, Enbridge. "This project represents an important milestone in advancing Enbridge's renewable energy strategy, reinforcing our leadership in the ongoing energy evolution. We're proud to provide 100% of the power to Amazon to help provide clean, renewable energy for their operations and support their sustainability goals." EDF Renewables, one of the largest renewable developers in North America, is committed to providing solutions to meet our customer's carbon-reduction goals. With over 35 years of experience and 18 gigawatts of wind, solar, and storage projects developed, EDF Renewables provides integrated energy solutions from grid-scale power to electric vehicle charging. About EDF Renewables North America EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company's PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables' North American portfolio consists of 18 GW of developed projects and 14.6 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter. About Enbridge Inc. At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, carbon capture and storage. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com. Forward-Looking Information-Enbridge Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge Inc. ("Enbridge") 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. 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. 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. For additional information on the assumptions made and the risks and uncertainties involved in Enbridge's forward-looking statements, please refer to Enbridge's most recent Annual Report and Quarterly Report and in Enbridge's other filings with Canadian and United States securities regulators at www.sedarplus.ca and www.sec.gov, respectively. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106148846/en/ back
NextDecade Announces $175 Million Senior Secured Loan
NextDecade Announces $175 Million Senior Secured Loan Proceeds will be Used to Repay Existing $50 Million Revolving Credit Facility and $12.5 Million Interest Term Loan and for Working Capital and General Corporate Purposes HOUSTON, Jan. 06 /BusinessWire/ -- NextDecade Corporation (NextDecade or the Company) (NASDAQ:NEXT) announced today that its wholly owned subsidiary, Rio Grande LNG Super Holdings, LLC, has entered into a credit agreement with General Atlantic Credit's ("GA Credit") Atlantic Park Fund that provides for a $175 million senior secured loan (the "Senior Loan"). Proceeds from the Senior Loan were disbursed at closing on December 31, and net proceeds, after fees and related transaction expenses, will be used to repay outstanding borrowings under the Company's existing $50 million revolving credit facility and $12.5 million interest term loan, and to fund working capital and general corporate purposes, including development expenses for expansion trains 4 and 5 at the Rio Grande LNG Facility. The Senior Loan matures six years from the closing date. Borrowings under the Senior Loan bear interest at 12.0%, with interest payable quarterly. Interest may be paid in-kind for the first two years after the closing date and then up to 50% paid in-kind thereafter. On the closing date, NextDecade issued to GA Credit approximately 7.16 million warrants. The warrants are each exercisable for one share of NextDecade common stock at the option of GA Credit, and are exercisable for five years after the closing date. 50% of the warrants are exercisable at $7.15 per share, which represents the 30-day volume weighted average trading price for the 30 trading-day period immediately preceding the closing date, and the remaining 50% of the warrants are exercisable at $9.30 per share. Santander acted as exclusive financial advisor and Latham & Watkins LLP acted as legal advisor to NextDecade. Akin Gump Strauss Hauer & Feld LLP and Baker Botts L.L.P. acted as legal advisors to GA Credit. About NextDecade Corporation NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest proposed carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade's common stock is listed on the Nasdaq Stock Market under the symbol "NEXT." NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com. About General Atlantic Credit General Atlantic Credit ("GA Credit") is the dedicated credit investment platform within General Atlantic, a leading global growth investor. GA Credit leverages a demonstrated track record of strategic credit partnerships across market cycles and capital structures alongside General Atlantic's more than 40 years of domain expertise and company-building capabilities. GA Credit's Atlantic Park strategy provides flexible capital to high-quality companies seeking a strategic partner at various stages of the corporate and economic lifecycle. This partnership approach enables Atlantic Park to create customized capital solutions tailored to a company's specific capital needs. General Atlantic manages approximately $100 billion in assets under management, inclusive of all strategies, as of October 1, 2024, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words "anticipate," "contemplate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "might," "will," "would," "could," "should," "can have," "likely," "continue," "design," "assume," "budget," "guidance," "forecast," and "target," and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NextDecade's periodic reports that are filed with and available from the Securities and Exchange Commission. Additionally, any development of subsequent trains at the Rio Grande LNG Facility or CCS projects remains contingent upon execution of definitive commercial and financing agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106544573/en/ back
Advisory: Chevron Corporation's 4Q 2024 Earnings Conference Call and Webcast
Advisory: Chevron Corporation's 4Q 2024 Earnings Conference Call and Webcast HOUSTON, Jan. 06 /BusinessWire/ -- Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, January 31, 2025, at 11:00 a.m. ET (10:00 a.m. CT). Conference Call Information: Date: Friday, January 31, 2025 Time: 11:00 a.m. ET / 10:00 a.m. CT Dial-in # (Listen-only mode): 866-409-1555 Conference ID #: 8815912 Speakers: Mike Wirth - Chairman of the Board & Chief Executive Officer Eimear Bonner - Vice President & Chief Financial Officer Jake Spiering - General Manager, Investor Relations To access the live webcast, visit www.chevron.com. The meeting replay will also be available on the company website under the "Investors" section. Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable, and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals, and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies. More information about Chevron is available at www.chevron.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250106370847/en/ back
Talos Energy Announces Management Changes
Talos Energy Announces Management Changes Joseph Mills has resigned from his roles as Interim President and CEO, and member of the Board, effective immediately Talos Energy has identified a finalist candidate for the role of permanent CEO who is expected to start by the end of first quarter 2025 HOUSTON, Jan. 6, 2025 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that Mr. Joseph A. Mills has resigned as Interim President and Chief Executive Officer and a member of the Board to pursue other opportunities, with immediate effect. At the same time, the Company announced that it has identified a finalist candidate to serve as the Company's permanent Chief Executive Officer and is in the final stages of the process with this candidate. Talos's Board, in partnership with an external search firm, has conducted a search for a new permanent Chief Executive Officer. Talos expects that the finalist candidate will join the Company by the end of the first quarter of 2025. "We are pleased with the progress we have made in identifying a CEO candidate," said Neal P. Goldman, chairman of Talos's Board of Directors. "After a thorough search process, we believe we have identified a strong candidate for the position. We will announce the appointment once details have been finalized. What has been most important to us in this search process is finding a permanent CEO who shares the Board's strategic vision for the business and has the experience and ability to build upon Talos's strong current position. We feel confident this search process is close to that outcome." In addition, Talos reiterates its 2024 full year production guidance issued on November 11, 2024. The Company continues to expect average daily production of 91.0 - 94.0 thousand barrels of oil equivalent per day. Talos confirms that Mr. Mills's departure is unrelated to any operational issues or accounting matters. The Company has no other material financial or operational updates at this time. ABOUT TALOS ENERGY Talos Energy (NYSE: TALO) is a technically driven, innovative, independent energy company focused on maximizing long-term value through its Upstream Exploration & Production business in the United States Gulf of Mexico and offshore Mexico. We leverage decades of technical and offshore operational expertise to acquire, explore, and produce assets in key geological trends while maintaining a focus on safe and efficient operations, environmental responsibility and community impact. For more information, visit www.talosenergy.com. INVESTOR RELATIONS CONTACT Clay Jeansonneinvestor@talosenergy.com CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS This communication may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this communication, the words "will," "could," "believe," "anticipate," "intend," "estimate," "expect," "project," "forecast," "may," "objective," "plan" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, the timing and success of strategic and management succession plans, the reliability of our average daily production guidance, and the other risks discussed in "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and "Risk Factors" in our subsequent Quarterly Reports on Forms 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this communication. View original content to download multimedia:https://www.prnewswire.com/news-releases/talos-energy-announces-management-changes-302342822.html SOURCE Talos Energy
DHT Holdings, Inc. announces share repurchases
DHT Holdings, Inc. announces share repurchases HAMILTON, BERMUDA, January 6, 2025 - DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today announced that the Company has purchased 1,481,383 of its own shares in the open market, equivalent to 0.9% of its outstanding shares, at an average price of $8.8899. The shares were purchased during December 2024 and have been retired upon receipt. About DHT Holdings, Inc.DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our combination of market exposure and fixed income contracts for our fleet; our counter cyclical philosophy with respect to investments, employment of our fleet, and capital allocation; and our transparent corporate structure maintaining a high level of integrity and good governance. For further information please visit www.dhtankers.com. Forward Looking StatementsThis press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the SEC on March 20, 2024. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements. Contact:Laila C. Halvorsen, CFO Phone: +1 441 295 1422 and +47 984 39 935 E-mail: lch@dhtankers.com
Brookfield Business Partners to Host Fourth Quarter 2024 Results Conference Call
Brookfield Business Partners to Host Fourth Quarter 2024 Results Conference Call Date: Friday, January 31, 2025 Time: 10:00 a.m. (Eastern Time) BROOKFIELD NEWS, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Brookfield Business Partners will host its Fourth Quarter 2024 Conference Call & Webcast on Friday, January 31, 2025 at 10:00 a.m. (ET) to discuss results and current business initiatives. Results will be released on Friday, January 31, 2025 prior to 8:00 a.m. (ET) and will be available following the release on our website at https://bbu.brookfield.com. Participants can join by conference call or webcast: Conference Call Please pre-register: BBU2024Q4ConferenceCallUpon registering, you will be emailed a dial-in number and unique PIN. This process will bypass the operator and avoid the queue. Webcast Please join and register by webcast: BBU2024Q4WebcastA replay of the webcast will be available on our website. Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in our company either through Brookfield Business Partners L.P. (NYSE: BBU; TSX:BBUN.CA), a limited partnership or Brookfield Business Corporation (NYSE, TSX:BBUC.CA), a corporation. For more information, please visit https://bbu.brookfield.com. Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management's Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management. For more information, please contact:
CNX Issues Statement on Section 45V Hydrogen Production Tax Credit Implementation Guidance
CNX Issues Statement on Section 45V Hydrogen Production Tax Credit Implementation Guidance PITTSBURGH, Jan. 3, 2025 /PRNewswire/ -- Today, in response to the issuance of final rules regarding the Inflation Reduction Act's Section 45V Hydrogen Production Tax Credit, CNX Resources Corporation (NYSE: CNX) released the following statement: "The Department of Treasury's recognition of captured waste coal mine methane (CMM) as a feedstock for hydrogen production is validation of its inherent environmental and economic benefits and an important step in continuing to monetize the value of this unique asset. However, we believe that the final 45V implementation rules are overly restrictive across a range of feedstocks and do not currently appear to create sufficient economic incentives for the Company to expand its CMM capture operations for hydrogen end use. "Notwithstanding the specifics of the 45V rule, the Company intends to utilize this important validation of the product to pursue other incentive pathways for CMM volumes including voluntary markets, other tax incentives, and compliance program commercial opportunities that recognize waste mine methane capture." About CNX ResourcesCNX Resources Corporation (NYSE: CNX) is unique. We are a premier, ultra-low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 160-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com. Cautionary StatementsWe are including the following cautionary statement in this press release to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of us. With the exception of historical matters, the matters discussed in this press release are forward-looking statements (as defined in 21E of the Securities Exchange Act of 1934 (the "Exchange Act")) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income, and capital spending. When we use the words "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," "will," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe a strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond our control. Specific factors that could cause future actual results to differ materially from the forward-looking statements are described in detail under the captions "Forward-Looking Statements" and "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (SEC) and any subsequent reports filed with the SEC. Those risk factors discuss, among other matters, pricing volatility or pricing decline for natural gas and NGLs; local, regional and national economic conditions and the impact they may have on our customers; the impact of events beyond our control, including a global or domestic health crisis; dependence on gathering, processing and transportation facilities and other midstream facilities owned by others; conditions in the oil and gas industry; our current long-term debt obligations, and the terms of the agreements that govern that debt; strategic determinations, including the allocation of capital and other resources to strategic opportunities; cyber-incidents targeting our systems, oil and natural gas industry systems and infrastructure, or the systems of our third-party service providers; and changes in safety, health, environmental and other regulations. View original content to download multimedia:https://www.prnewswire.com/news-releases/cnx-issues-statement-on-section-45v-hydrogen-production-tax-credit-implementation-guidance-302342159.html SOURCE CNX Resources Corporation
CORE LABORATORIES ANNOUNCES TIMING OF FOURTH QUARTER 2024 EARNINGS RELEASE AND CONFERENCE CALL
CORE LABORATORIES ANNOUNCES TIMING OF FOURTH QUARTER 2024 EARNINGS RELEASE AND CONFERENCE CALL HOUSTON, Jan. 3, 2025 /PRNewswire/ -- Core Laboratories (NYSE: "CLB") will host its fourth quarter 2024 conference call for investors and analysts at 7:30 a.m. CST / 8:30 a.m. EST on January 30, 2025. Larry Bruno, Chairman and CEO, Chris Hill, CFO, and Gwen Gresham, SVP Corporate Development and Investor Relations, will discuss financial and operational results. An earnings press release will be issued after market close on January 29, 2025 and may be accessed through the Company's website at www.corelab.com. To register for the listen-only webcast, log on to www.corelab.com at least fifteen minutes prior to the start of the call. For those not available to listen to the live webcast, a replay and transcript will be available on the Company's website shortly after the call. For conference call information, please contact Jenna Palfrey at jenna.palfrey@corelab.com for the dial-in number. Core Laboratories Inc. (www.corelab.com) is a leading provider of proprietary and patented reservoir description and production enhancement services and products used to optimize petroleum reservoir performance. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world. View original content to download multimedia:https://www.prnewswire.com/news-releases/core-laboratories-announces-timing-of-fourth-quarter-2024-earnings-release-and-conference-call-302342143.html SOURCE Core Laboratories Inc
Delek Logistics Partners, LP Announces Closing of Gravity Water Midstream Acquisition
Delek Logistics Partners, LP Announces Closing of Gravity Water Midstream Acquisition BRENTWOOD, Tenn., Jan. 02 /BusinessWire/ -- Delek Logistics Partners, LP (NYSE:DKL) ("Delek Logistics") announced today the closing of the previously announced acquisition of Gravity Water Intermediate Holdings LLC ("Gravity"). "The Gravity acquisition represents another significant step in DKL's commitment of being a full suite crude, gas and water midstream services provider in the Permian Basin. Gravity's primary operations are in Howard County in the Midland Basin, and along with our recent H2O Midstream acquisition, provide a strong opportunity for integrated crude and water services to DKL's customers. We believe Delek Logistics continues to provide the best combination of yield and growth in the midstream sector. As previously indicated, DKL will be approaching greater than 70% of its EBITDA coming from third-party sources. We are excited about the prospects for DKL and the value it continues to bring to all of its stakeholders," said Avigal Soreq, President at Delek Logistics. The Gravity operations include integrated full-cycle water systems in the Permian Basin, in addition to produced water gathering, and transportation assets in the Bakken. Total consideration for the transaction is $285 million comprising of $200 million in cash (excluding customary closing adjustments) and ~2.175 million DKL units. The acquisition is synergistic to DKL's recent acquisition of H2O Midstream and supplements DKL's integrated crude and produced water gathering and disposal offering in the Midland Basin. The acquisition also presents an opportunity to extract significant synergies through cost and commodity sale optimization. About Delek Logistics Partners, LP Delek Logistics Partners, LP is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, including both the Midland and the Delaware Basins, and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline, transportation, and other services for its customers in crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling, water disposal, and recycling. Delek US Holdings, Inc. (NYSE:DK) ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics Partners, LP, and is also a significant customer. Safe Harbor Provisions Regarding Forward-Looking Statements This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," as that term is defined under the federal securities laws. Investors are cautioned that important factors may affect these forward-looking statements, as described in Delek US's and Delek Logistics' filings with the SEC, including risks disclosed in their respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other filings and reports with the SEC. Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Neither Delek US nor Delek Logistics undertakes any obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which they become aware of, after the date hereof, except as required by applicable law or regulation. View source version on businesswire.com: https://www.businesswire.com/news/home/20250102287313/en/ back
Murphy Oil Corporation to Participate in Upcoming Conference
Murphy Oil Corporation to Participate in Upcoming Conference HOUSTON, Jan. 02 /BusinessWire/ -- Murphy Oil Corporation (NYSE:MUR) today announced that Eric M. Hambly, President and Chief Executive Officer, will participate on a panel at the Goldman Sachs Energy, CleanTech & Utilities Conference 2025 on Wednesday, January 8 at 3:00 p.m. Eastern Standard Time (EST). The webcast will be available on the company's website at http://ir.murphyoilcorp.com. ABOUT MURPHY OIL CORPORATION As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company's website at www.murphyoilcorp.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250102962514/en/ back
Pembina Pipeline Corporation Announces Closing of PGI's Acquisition of Working Interests From Whitecap Resources and Provides Karr and Gold Creek Update
Pembina Pipeline Corporation Announces Closing of PGI's Acquisition of Working Interests From Whitecap Resources and Provides Karr and Gold Creek Update CALGARY, Alberta, Jan. 02 /BusinessWire/ -- Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE:PBA) is pleased to announce the closing of Pembina Gas Infrastructure Inc.'s ("PGI") acquisition of a 50 percent working interest in Whitecap Resources Inc.'s ("Whitecap") 15-07 Kaybob Complex (the "Kaybob Complex"), effective December 31, 2024. As part of the transaction, Whitecap has entered into a long-term take-or-pay agreement for PGI's capacity in the Kaybob Complex and committed to an area-of-dedication to PGI for all volumes Whitecap produces out of the area. In addition, Pembina is also pleased to provide an update on infrastructure development in the Karr and Gold Creek areas, under PGI's previously disclosed transaction with Veren Inc. ("Veren"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250102672379/en/ Advancement of Development As part of the Kaybob Complex acquisition, PGI and Whitecap entered into long-term, take-or-pay contracts at PGI's nearby K3 facility to further support Whitecap's liquids-rich developments. Based on Whitecap's drilling results and updated forecasts, PGI now expects capacity at the Kaybob Complex to be fully utilized and has advanced developments to facilitate volumes at the K3 facility, which are expected to commence in the third quarter of 2025, or approximately one year earlier than originally contemplated. Lator Infrastructure Update Concurrent with the acquisition of working interests at the Kaybob Complex, PGI agreed to support future infrastructure development for Whitecap's Lator area development, including a new battery and gathering laterals (the "Lator Infrastructure"), which PGI will own and is supported by long-term take-or-pay agreements with an area-of-dedication for all volumes produced by Whitecap out of the area. Since the announcement of the transaction, PGI's outlook for Whitecap's Lator area growth has continued to improve. PGI anticipates funding up to $400 million ($240 million net to Pembina) for the battery and gathering laterals within the first phase of the Lator Infrastructure, with all gas volumes flowing to PGI's Musreau facility upon startup in late 2026/early 2027, supporting long-term plant utilization. In addition to the Musreau facility, PGI has two other deep-cut processing facilities in the vicinity that could provide incremental, timely and cost-effective processing solutions to Whitecap. All funding of the Lator Infrastructure is backstopped by long-term take-or-pay agreements based on the capital spent. Full Pembina Value Chain All natural gas liquids produced through the Kaybob Complex and Lator Infrastructure developments will flow through Pembina's downstream infrastructure and are covered under a combination of new and extended long-term transportation, fractionation, and marketing services agreements, as well as an area-of-dedication for future growth. This will support higher utilization of Pembina's Peace Pipeline and Redwater Complex, including the RFS IV expansion, currently under construction. Further, the arrangement for Whitecap's Lator area development includes deep-cut processing and ethane-plus NGL transportation and fractionation, which supports Pembina's ethane supply commitments in relation to Dow's Path2Zero project. Gold Creek and Karr Development Update As part of the arrangement PGI entered into with Veren, PGI committed to fund capital up to $300 million ($180 million net to Pembina) for future battery and gathering infrastructure in the Gold Creek and Karr areas, with approximately $100 million ($60 million net to Pembina) of the amount committed at the time of the announcement. Subsequently, Veren has notified PGI with a request for additional battery infrastructure expected to enter service in 2025. Further scope definition of the initial battery, plus the additional battery infrastructure request brings the total funding commitment to approximately $200 million ($120 million net to Pembina), which will be supported by long-term take-or-pay commitments. The closing date of the acquisition of the Kaybob Complex, as well as current expectations for funding infrastructure for both Whitecap and Veren, do not materially impact Pembina's 2025 guidance or capital investment program, previously provided on December 12, 2024. About Pembina Gas Infrastructure Pembina Gas Infrastructure is a premier gas processing entity in Western Canada with a combined capacity of five billion cubic feet per day. Jointly owned by Pembina and affiliates of KKR, PGI is strategically positioned to serve customers throughout the Montney and Duvernay trends from central Alberta to northeast British Columbia. Pembina owns 60 percent of PGI and operates and manages PGI facilities while KKR's global infrastructure funds own the remaining 40 percent. About Pembina Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for 70 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit www.pembina.com. Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com. Forward-Looking Information and Statements This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "protect", "plan", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements, pertaining to, without limitation, the following: the development of infrastructure including its impacts to capacity at the Kaybob Complex, timing of volumes to the K3 facility, funding for the Lator development, connections to Pembina's assets and infrastructure and impacts to Pembina's assets including the Redwater facility. The forward-looking statements are based on certain factors and assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; the success of Pembina's operations; prevailing commodity prices, interest rates, carbon prices, tax rates, exchange rates and inflation rates; the ability of Pembina to maintain current credit ratings; the availability and cost of capital to fund future capital requirements relating to existing assets, projects and the repayment or refinancing of existing debt as it becomes due; future operating costs; geotechnical and integrity costs; that any third-party projects relating to Pembina's growth projects will be sanctioned and completed as expected; that any required commercial agreements can be reached in the manner and on the terms expected by Pembina; that all required regulatory and environmental approvals can be obtained on the necessary terms and in a timely manner; that counterparties will comply with contracts in a timely manner; that there are no unforeseen events preventing the performance of contracts or the completion of the relevant projects; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; the amount of future liabilities relating to lawsuits and environmental incidents; and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy). Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; reliance on key relationships, joint venture partners and agreements; labour and material shortages; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities, including changes in tax laws and treatment, changes in royalty rates, changes in regulatory processes or increased environmental regulation; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions, including potential recessions in Canada, North America and worldwide resulting in changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, inflation rates, commodity prices, supply/demand trends and overall industry activity levels; constraints on, or the unavailability of, adequate supplies, infrastructure or labour; the political environment in North America and elsewhere, and public opinion; the ability to access various sources of debt and equity capital; adverse changes in credit ratings; counterparty credit risk; technology and cyber security risks; natural catastrophes; and certain other risks detailed in Pembina's Annual Information Form and Management's Discussion and Analysis, each dated February 22, 2024 for the year ended December 31, 2023, and from time to time in Pembina's public disclosure documents available at www.sedarplus.ca, www.sec.gov and through Pembina's website at www.pembina.com. This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected by forward-looking statements contained herein. The forward-looking statements contained in this news release speak only as of the date of this news release. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. View source version on businesswire.com: https://www.businesswire.com/news/home/20250102672379/en/ back
Kosmos Energy Announces First Gas at the Greater Tortue Ahmeyim LNG Project in Mauritania and Senegal
Kosmos Energy Announces First Gas at the Greater Tortue Ahmeyim LNG Project in Mauritania and Senegal DALLAS, Jan. 02 /BusinessWire/ -- Kosmos Energy (NYSE/LSE: KOS) notes the announcement today from bp plc (operator) that first gas production has been achieved at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project offshore Mauritania and Senegal. On December 31, 2024, gas from the first phase of GTA started to flow from wells to the floating production storage and offloading (FPSO) vessel ahead of delivery to the floating LNG vessel for liquefaction. Once fully commissioned, GTA Phase 1 is expected to produce around 2.3 million tonnes of LNG per annum (mtpa) with the floating LNG vessel nameplate capacity of approximately 2.7 mtpa. First gas is a key milestone for the partnership and the governments of Mauritania and Senegal and an important step for the countries to become a strategic LNG production hub in West Africa. First LNG production is expected to follow shortly with the first LNG cargo expected in the first quarter of 2025, which is when we start to recognize revenue from the project. Commenting on first gas production at GTA, Chairman and Chief Executive Officer Andrew G. Inglis said: "Achieving first gas sets the stage for us to ramp up production and reach the ~90,000 boepd production target we set two years ago. With our key growth projects largely delivered and capex falling, Kosmos is well positioned going into 2025. The company remains focused on disciplined capital allocation and the generation of free cash flow that enables us to pay down debt, reduce leverage to less than 1.5x, and enhance the financial resilience of the company." About Kosmos Energy Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea and the U.S. Gulf of Mexico. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit www.kosmosenergy.com. Forward-Looking Statements This press 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. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos' Securities and Exchange Commission ("SEC") filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Management does not provide a reconciliation for forward looking non GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward looking non GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. View source version on businesswire.com: https://www.businesswire.com/news/home/20250101619906/en/ back
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates USAP, ZUO, NBR, SPR on Behalf of Shareholders
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates USAP, ZUO, NBR, SPR on Behalf of Shareholders NEW YORK, Jan. 1, 2025 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Universal Stainless & Alloy Products, Inc. (NASDAQ: USAP)'s sale to Aperam for $45.00 per share in cash. If you are a Universal shareholder, click here to learn more about your legal rights and options. Zuora, Inc. (NYSE: ZUO)'s sale to Silver Lake and an affiliate of GIC Pte. Ltd. for $10.00 per share in cash. If you are a Zuora shareholder, click here to learn more about your rights and options. Nabors Industries Ltd. (NYSE: NBR)'s merger with Parker Wellbore. Per the terms of the proposed transaction, Nabors would acquire all of Parker's issued and outstanding common shares in exchange for 4.8 million shares of Nabors common stock, subject to a share price collar. If you are a Nabors shareholder, click here to learn more about your rights and options. Spirit AeroSystems Holdings, Inc. (NYSE: SPR)'s sale to The Boeing Company. If you are a Spirit shareholder, click here to learn more about your rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. 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 LLC 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 LLCDaniel 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/shareholder-investigation-halper-sadeh-llc-investigates-usap-zuo-nbr-spr-on-behalf-of-shareholders-302340806.html SOURCE Halper Sadeh LLP