Texas Pacific Land Trust Announces Anticipated Distribution Date in Connection with Corporate Reorganization DALLAS, Dec. 31 /BusinessWire/ -- The Trustees of Texas Pacific Land Trust (NYSE:TPL) (the "Trust") announced today that, in connection with the Trust's previously announced plan to reorganize the Trust from its current structure to a corporation formed under Delaware law named Texas Pacific Land Corporation ("TPL Corporation"), the Trust expects to distribute all of the common stock of TPL Corporation to holders of sub-share certificates in certificates of proprietary interest of the Trust ("sub-share certificates") on January 11, 2021 (such date, the "effective date"). Prior to the market opening on the effective date, the Trust will distribute all of the shares of TPL Corporation common stock to holders of sub-share certificates as of such date on a pro rata, one-for-one basis in accordance with their interests in the Trust. The trading of sub-share certificates on the New York Stock Exchange ("NYSE") will cease prior to the market opening and TPL Corporation common stock will begin trading on the NYSE on the same date under the symbol "TPL," and the sub-share certificates will be cancelled. The distribution of TPL Corporation common stock will be made in book-entry form only. No action is required by holders of sub-share certificates in order to receive shares of TPL Corporation common stock. Immediately after the distribution becomes effective, TPL Corporation will be an independent, publicly traded company and successor to all of the Trust's assets, employees, liabilities and obligations. TPL Corporation previously filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission (the "SEC") on December 14, 2020 (as amended, the "Registration Statement"), relating to the corporate reorganization. On December 31, 2020, the Registration Statement was declared effective. The Registration Statement included a preliminary information statement that describes the corporate reorganization and provides information regarding the Trust and TPL Corporation. A final information statement describing the corporate reorganization and the anticipated distribution in more detail (the "Final Information Statement") has been filed with the SEC as an exhibit to TPL Corporation's Current Report on Form 8-K and will be furnished as an exhibit to a Current Report on Form 8-K of the Trust. Investors and holders of sub-share certificates are urged to read documents filed with the SEC carefully and in their entirety as these materials contain important information about the Trust, TPL Corporation and the corporate reorganization. The completion of the corporate reorganization and distribution is subject to the satisfaction or waiver of a number of conditions, including the absence of unforeseen events or developments that would make it inadvisable to effect the corporate reorganization. About Texas Pacific Land Trust Texas Pacific Land Trust is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas. The Trust was organized under a Declaration of Trust to receive and hold title to extensive tracts of land in the State of Texas, previously the property of the Texas and Pacific Railway Company, and to issue transferable Certificates of Proprietary Interest pro rata to the holders of certain debt securities of the Texas and Pacific Railway Company. Texas Pacific Land Trust's trustees are empowered under the Declaration of Trust to manage the lands with all the powers of an absolute owner. Texas Pacific Land Trust is not a REIT. No Offer or Solicitation This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Cautionary Statement Regarding Forward-Looking Statements This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on the Trust's beliefs, as well as assumptions made by, and information currently available to, the Trust, and therefore involve risks and uncertainties that are difficult to predict. Generally, future or conditional verbs such as "will," "would," "should," "could," or "may" and the words "believe," "anticipate," "continue," "intend," "expect" and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the corporate reorganization and other references to strategies, plans, objectives, expectations, intentions, assumptions, future operations and prospects and other statements that are not historical facts. You should not place undue reliance on forward-looking statements. Although the Trust believes that plans, intentions and expectations, including those regarding the corporate reorganization, reflected in or suggested by any forward-looking statements made herein are reasonable, the Trust may be unable to achieve such plans, intentions or expectations and actual results, and performance or achievements may vary materially and adversely from those envisaged in this news release due to a number of factors including, but not limited to: a determination of the Trustees of the Trust not to provide final approval of all actions and transactions necessary to effect the corporate reorganization; a determination that the corporate reorganization will not be tax-free to the Trust and holders of the Trust's sub-share certificates; the occurrence of any event, change or other circumstances that could give rise to the abandonment of the corporate reorganization; changes or uncertainties in the expected timing, likelihood or completion of the corporate reorganization; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the corporate reorganization; the potential impacts of COVID-19 on the global and U.S. economies as well as on the Trust's financial condition and business operations; risks related to disruption of management time from ongoing business operations due to the corporate reorganization; the initiation or outcome of potential litigation; and any changes in general economic and/or industry specific conditions. Except as required by law, the Trust undertakes no obligation to publicly update or revise any such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or referred to herein, see the Trust's annual report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC. These risks, as well as other risks associated with the Trust, TPL Corporation and the corporate reorganization are also more fully discussed in the Registration Statement, which includes a preliminary information statement, filed by TPL Corporation with the SEC on December 14, 2020 and declared effective by the SEC on December 31, 2020; a Current Report on Form 8-K filed by TPL Corporation with the SEC on December 31, 2020, which includes a final information statement describing the corporate reorganization and the anticipated distribution in more detail (the "Final Information Statement"); and a Current Report on Form 8-K, which is expected to be filed by the Trust on or about December 31, 2020 and to include the Final Information Statement. You can access the Trust's and TPL Corporation's filings with the SEC through the SEC website at www.sec.gov and the Trust and TPL Corporation strongly encourage you to do so. Except as required by applicable law, the Trust and TPL Corporation undertake no obligation to update any statements herein for revisions or changes after this communication is made. View source version on businesswire.com: https://www.businesswire.com/news/home/20201231005241/en/ back
TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares CALGARY, Alberta, Dec. 31, 2020 (GLOBE NEWSWIRE) -- News Release - TC Energy Corporation (TSX:TRP.CA) (NYSE:TRP) (TC Energy) announced today that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 5 (Series 5 Shares) and Cumulative Redeemable First Preferred Shares, Series 6 (Series 6 Shares) on January 30, 2021. As a result, subject to certain conditions: (a) the holders of Series 5 Shares have the right to choose one of the following options with regard to their shares: to retain any or all of their Series 5 Shares and continue to receive a fixed rate quarterly dividend; orto convert, on a one-for-one basis, any or all of their Series 5 Shares into Series 6 Shares and receive a floating rate quarterly dividend, and (b) the holders of Series 6 Shares have the right to choose one of the following options with regard to their shares: to retain any or all of their Series 6 Shares and continue to receive a floating rate quarterly dividend; orto convert, on a one-for-one basis, any or all of their Series 6 Shares into Series 5 Shares and receive fixed rate quarterly dividend. Should a holder of Series 5 Shares choose to retain their shares, such shareholders will receive the new annual fixed dividend rate applicable to Series 5 Shares of 1.949% for the five-year period commencing January 30, 2021 to, but excluding, January 30, 2026. Should a holder of Series 5 Shares choose to convert their shares to Series 6 Shares, holders of Series 6 Shares will receive the floating quarterly dividend rate applicable to the Series 6 Shares of 1.655% for the three-month period commencing January 30, 2021 to, but excluding, April 30, 2021. The floating dividend rate will be reset every quarter. Should a holder of Series 6 Shares choose to retain their shares, such shareholders will receive the floating quarterly dividend rate applicable to Series 6 Shares of 1.655% for the three-month period commencing January 30, 2021 to, but excluding, April 30, 2021. The floating dividend rate will be reset every quarter. Should a holder of Series 6 Shares choose to convert their shares to Series 5 Shares, holders of Series 5 Shares will receive the new fixed quarterly dividend rate applicable to the Series 5 Shares of 1.949% for the five-year period commencing January 30, 2021 to, but excluding, January 30, 2026. Beneficial owners of Series 5 Shares and Series 6 Shares who want to exercise their right of conversion should communicate as soon as possible with their broker or other nominee and ensure that they follow their instructions in order to meet the deadline to exercise such right, which is 5 p.m. (EST) on January 15, 2021. Any notices received after this deadline will not be valid. As such, it is recommended that this be done well in advance of the deadline in order to provide the broker or other nominee with time to complete the necessary steps. Beneficial owners of Series 5 or Series 6 Shares who do not provide notice or communicate with their broker or other nominee by the deadline will retain their respective Series 5 Shares or Series 6 Shares, as applicable, and receive the new dividend rate applicable to such shares, subject to the conditions stated below. The foregoing conversions are subject to the conditions that: (i) if TC Energy determines that there would be less than one million Series 5 Shares outstanding after January 30, 2021, then all remaining Series 5 Shares will automatically be converted into Series 6 Shares on a one-for-one basis on January 30, 2021, and (ii) if TC Energy determines that there would be less than one million Series 6 Shares outstanding after January 30, 2021, then all of the remaining outstanding Series 6 Shares will automatically be converted into Series 5 Shares on a one-for-one basis on January 30, 2021. In either case, TC Energy will issue a news release to that effect no later than January 22, 2021. Holders of Series 5 Shares and Series 6 Shares will have the opportunity to convert their shares again on January 30, 2021 and every five years thereafter as long as the shares remain outstanding. For more information on the terms of, and risks associated with an investment in the Series 5 Shares and the Series 6 Shares, please see the prospectus supplement dated June 17, 2010 which is available on sedar.com or on our website.About TC EnergyWe are a vital part of everyday life - delivering the energy millions of people rely on to power their lives in a sustainable way. Thanks to a safe, reliable network of natural gas and crude oil pipelines, along with power generation and storage facilities, wherever life happens - we're there. Guided by our core values of safety, responsibility, collaboration and integrity, our more than 7,500 people make a positive difference in the communities where we operate across Canada, the U.S. and Mexico. TC Energy's common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. FORWARD-LOOKING INFORMATION This news release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this news release are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management's assessment of TC Energy's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TC Energy's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov. -30- Media Enquiries:Jaimie Harding / Hejdi Carlsen 403-920-7859 or 800-608-7859 Investor & Analyst Inquiries: David Moneta / Hunter Mau 403-920-7911 or 800-361-6522 PDF available: ml.globenewswire.com/Resource/Download/b5d84146-b656-482b-9ea4-e787c0401d2e
PBF Energy to Participate in Virtual Investor Conferences PARSIPPANY, N.J., Dec. 30, 2020 /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) today announced that members of its management team will participate in the Sankey Research Virtual Refining Conference on January 4, 2021, the 3rd Annual Mizuho Virtual Refining Conference on January 5, 2021, and the Goldman Sachs Global Energy Conference 2021 on January 6, 2021. About PBF Energy Inc.PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors. PBF Energy Inc. also currently indirectly owns the general partner and approximately 48% of the limited partnership interest of PBF Logistics LP (NYSE: PBFX). View original content to download multimedia:http://www.prnewswire.com/news-releases/pbf-energy-to-participate-in-virtual-investor-conferences-301199527.html SOURCE PBF Energy Inc.
Par Pacific Holdings Management to Participate in Virtual Investor Conferences HOUSTON, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) ("Par Pacific") today announced that members of its management team will present at the 3rd Annual Mizuho Virtual Refining Conference on January 5, 2021 at 1:00 pm CT. They will also participate in a panel discussion at the Goldman Sachs Global Energy Conference 2021 on January 7, 2021 at 9:30 am CT and host 1x1 sessions with investors throughout the day. The most current investor presentation is available on the investor relations section of Par Pacific's website at www.parpacific.com. About Par PacificPar Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, owns and operates market-leading energy, infrastructure, and retail businesses. Par Pacific's strategy is to acquire and develop businesses in logistically complex markets. Par Pacific owns and operates one of the largest energy networks in Hawaii with 148,000 bpd of combined refining capacity, a logistics system supplying the major islands of the state and 91 retail locations. In the Pacific Northwest and the Rockies, Par Pacific owns and operates 60,000 bpd of combined refining capacity, related multimodal logistics systems, and 33 retail locations. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com. For more information contact:Ashimi PatelManager, Investor Relations(832) [email protected]
ConocoPhillips Announces Significant Oil Discovery in the Norwegian Sea HOUSTON, Dec. 22 /BusinessWire/ -- ConocoPhillips (NYSE:COP) today announced a new oil discovery in production license 891 on the Slagugle prospect located 14 miles north-northeast of the Heidrun Field in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 80 percent working interest. Pandion Energy AS is license partner with 20 percent working interest. Preliminary estimates place the size of the discovery between 75 million and 200 million barrels of recoverable oil equivalent. Extensive data acquisition and sampling has been carried out in the discovery well 6507/5-10, and future appraisal will be conducted to determine potential flow rates, the reservoir's ultimate resource recovery and potential development plan. "This discovery marks our fourth successful exploration well on the Norwegian Continental Shelf in the last 16 months," said Matt Fox, executive vice president and chief operating officer. "All four discoveries have been made in well-documented parts of the North Sea and the Norwegian Sea and offer very low cost of supply resource additions that can extend our more than 50-year legacy in Norway." The discovery well was drilled in 1,165 feet of water to a total depth of 7,149 feet by the Leiv Eiriksson drilling rig. --- # # # --- About ConocoPhillips Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,800 employees at Sept. 30, 2020. Production excluding Libya averaged 1,108 MBOED for the nine months ended Sept. 30, 2020, and proved reserves were 5.3 BBOE as of Dec. 31, 2019. For more information, go to www.conocophillips.com. 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 as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as "anticipate," "estimate," "believe," "budget," "continue," "could," "intend," "may," "plan," "potential," "predict," "seek," "should," "will," "would," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, such as pandemics (including coronavirus (COVID-19) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas and the resulting company actions in response to such changes, including changes resulting from the imposition or lifting of crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; changes in commodity prices; changes in expected levels of oil and gas reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining, or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete our announced dispositions or acquisitions on the timeline currently anticipated, if at all; the possibility that regulatory approvals for our announced dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of our announced dispositions, acquisitions or our remaining business; business disruptions during or following our announced dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced dispositions in the manner and timeframe we currently anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; the ability to successfully receive the requisite approvals and consummate the proposed acquisition of Concho resources; the ability to successfully integrate the operations of Concho Resources with our operations and achieve the anticipated benefits from the transaction; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any 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/20201221005829/en/ back
Aemetis and Koch Project Solutions Select Worley to Provide Engineering for Carbon Zero 1' Renewable Jet and Diesel Production Plant CUPERTINO, CA, June 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Aemetis, Inc. (NASDAQ:AMTX) has awarded an engineering services contract to Worley for the Aemetis `Carbon Zero' renewable jet and diesel plant in Riverbank, California. The Aemetis Carbon Zero renewable jet and diesel project is designed to hydrotreat renewable oils with hydrogen from orchard and forest wood waste. By utilizing hydroelectric electricity and carbon sequestration along with negative carbon intensity hydrogen, the Aemetis plant is expected to produce among the lowest carbon intensity renewable jet and diesel fuel in the world. "Operations at the Aemetis Carbon Zero plant are scheduled to begin in 2023 at the rate of 45 million gallons per year, expanding to 90 million gallons by early 2025," stated Eric McAfee, Chairman and CEO of Aemetis. "The Carbon Zero project team includes Koch Project Solutions as the EPC, Worley for engineering and technical solutions, Axens for process engineering and technology license, and ATSI serving as owner's representative, working with our in-house Aemetis technology, development, finance, regulatory, and Global Sales and Trading team members. The renewable jet and diesel produced at the Riverbank plant will supply the aviation and trucking industries with low carbon, low emission, renewable fuel." Worley is providing engineering to implement the Axens North America renewable jet and diesel technology at the Riverbank site. The Axens technology produces renewable jet and renewable diesel in an integrated process. "We are very pleased to be supported by the extensive expertise provided by Worley for the engineering on the Aemetis Carbon Zero plant, and we look forward to working with the Worley team on this project," said Tom Terris, Project Manager at Koch Project Solutions. "Delivering a more sustainable future for our customers is at the core of everything we do. Working with Aemetis and Koch Project Solutions on this project reinforces our commitment to helping our customers navigate the energy transition, while also underpinning our position and industry leadership in low-carbon fuels," said Karen Sobel, Group President, Americas at Worley. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG). Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the Carbon Zero renewable jet and diesel fuel integrated biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and related technology licenses to produce renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com. About Koch Project Solutions Koch Project Solutions strives to be the preferred partner for capital project execution. Built on a foundation of safety, Koch Project Solutions partners with project owners to develop customized execution and contracting strategies designed to maximize the return on investment. Koch Project Solutions is a part of Koch Engineered Solutions providing world-class services and technologies broadly across industrial sectors. Superior Outcomes. Consistently Delivered. Learn more at our website: www.kochprojectsolutions.com. About Worley Worley delivers project and asset services for the energy, chemicals and resources sectors around the world. It provides expertise in engineering, procurement and construction, as well as consulting services. Every day Worley helps its customers get one step closer to solving the planet's complex issues, such as climate change, the energy transition, digital transformation and how it is delivering a more sustainable world. Follow us on LinkedIn, Twitter and Facebook. Or visit worley.com. Safe Harbor Statement This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the construction and operation of the jet and diesel biorefinery in Riverbank, California, our compliance with governmental programs, and the ability to access markets and funding to execute our business plan. Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "showing signs," "targets," "view," "will likely result," "will continue" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws. External Investor RelationsContact:Kirin SmithPCG Advisory Group(646) [email protected] Company Investor Relations/Media Contact:Todd Waltz(408) [email protected]
Williams Announces Deepwater Export Agreement at Shenandoah TULSA, Okla., Jun. 16 /BusinessWire/ -- Williams (NYSE:WMB) announced today that it recently reached an export agreement with Beacon Offshore Energy Development LLC and its co-owner ShenHai, LLC, a subsidiary of Navitas Petroleum, to provide offshore natural gas gathering and transportation services and onshore natural gas processing services to the Shenandoah development through the Discovery infrastructure in the central Gulf of Mexico. Shenandoah is located 160 miles off the coast of Louisiana in the Walker Ridge area of the Gulf of Mexico. "Our interconnected offshore and onshore infrastructure allows us to maximize value for our customers by providing a safe, seamless and direct path to market for deepwater producers in the Gulf," said Micheal Dunn, Chief Operating Officer for Williams. "Our investment in Shenandoah is a strategic expansion of our Gulf of Mexico infrastructure which further strengthens our portfolio of services. We are pleased to provide the entire spectrum of midstream capabilities to Beacon that will capture the full value of these important deepwater resources." Facilities to be installed include a five-mile offshore lateral pipeline build from the Shenandoah platform to Discovery's existing Keathley Canyon Connector pipeline, and additional onshore processing facilities to handle the expected rich Shenandoah production. The new, rich natural gas will be transported to Discovery's processing plant in Larose, Louisiana, and the natural gas liquids will be fractionated and marketed at Discovery's Paradis plant in Louisiana. Shenandoah is expected to come online as early as late 2024. Williams' assets in the Gulf of Mexico offer producers the full value chain of capabilities - including gathering, transmission, processing and fractionation. Williams owns and operates 3,500 miles of natural gas and oil gathering and transmission pipeline, along with 1.8 BCF/d of cryogenic processing capacity and 60,000 barrels per day of fractionation capacity serving the Gulf of Mexico. The company has ownership in two floating production platforms, multiple fixed leg utility platforms, and numerous other related facilities. About Williams Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide - including Transco, the nation's largest volume and fastest growing pipeline - and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. View source version on businesswire.com: https://www.businesswire.com/news/home/20210616005301/en/ back
Spire Global Appoints Senior Vice President of Sales Veteran sales executive Kamal Arafeh to build company's commercial channels as it enters its next phase of growth VIENNA, Va. & RESTON, Va., Jun. 16 /BusinessWire/ -- Today Spire Global, Inc. ("Spire" or the "Company"), a space-based Earth data analytics and solutions company that recently announced a planned merger with NavSight Holdings, Inc. (NYSE:NSH), announced that it has appointed Kamal Arafeh as Senior Vice President of Sales. Mr. Arafeh will report to Peter Platzer, Founder and Chief Executive Officer of Spire, and will be based in Washington, D.C. As Senior Vice President of Sales for Spire, Mr. Arafeh will be responsible for growing the Company's sales organization and instituting a world-class partner program. Mr. Arafeh will work closely with each of Spire's key business units to streamline the sales organization, reach new customer segments, and expanding the Company's geographic footprint. "Kamal brings great depth of global sales and operational expertise to Spire, with a proven track record of driving revenue and profit growth across numerous businesses with differentiated technology," said Mr. Platzer. "We look forward to welcoming Kamal to the Spire leadership team as we continue to execute on our growth strategy and deliver subscription-based data, insights, and predictive analytics to global customers across a range of government agencies and industries. I am confident that we will benefit tremendously from Kamal's sales channel development expertise as we continue to generate close customer relationships and advance toward the next chapter of our business as a public company." Mr. Arafeh most recently served as Vice President for India at Halliburton Company (NYSE:HAL) ("Halliburton"), one of the world's largest providers of products and services to the energy industry, where he grew revenue and increased the business's profit by more than 100% within his first twelve months driving growth for the 1,500 person organization. Mr. Arafeh previously was General Manager for Asia Pacific Landmark Software, an Enterprise class software and cloud services business unit of Halliburton, where he was responsible for the revenue performance, profit and loss, compliance, and people management for Landmark Asia Pacific and Australia Region. Prior to joining Halliburton, Mr. Arafeh served as President and Chief Executive Officer at eEye Digital Security. Additional roles held during Mr. Arafeh's more than two decades of sales experience include Vice President of Sales at Astaro, Vice President and GM at Roxio, and Vice President of Channel Sales at McAfee. About Spire Global, Inc. Spire is a global provider of space-based data and analytics that offers unique datasets and powerful insights about Earth from the ultimate vantage point so organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world's largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world's toughest problems with insights from space. Spire has offices in San Francisco, CA, Boulder, CO, Washington DC, Glasgow, Luxembourg, and Singapore. On March 1, 2021 Spire announced plans to go public through an anticipated business combination with NavSight Holdings, Inc. (NYSE:NSH), to be traded on the NYSE under the ticker symbol "SPIR." To learn more, visit spire.com. About NavSight Holdings, Inc. NavSight Holdings, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. NavSight was organized with the opportunity to pursue a business combination target in any business or industry, with the intent to focus its search on identifying a prospective target business that provides expertise and technology to U.S. government customers in support of their national security, intelligence and defense missions. Additional Information and Where to Find It In connection with the planned business combination with Spire (the "Proposed Transaction"), NavSight has filed a Form S-4 Registration Statement (the "Registration Statement") with the SEC, which includes a preliminary proxy statement to be distributed to holders of NavSight's common stock in connection with NavSight's solicitation of proxies for the vote by NavSight's stockholders with respect to the Proposed Transaction and other matters as described in the Registration Statement, a prospectus relating to the offer of the securities to be issued to the Company's stockholders in connection with the Proposed Transaction, and an information statement to Company's stockholders regarding the Proposed Transaction. After the Registration Statement is declared effective, NavSight will mail a definitive proxy statement/prospectus, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about NavSight, the Company and the Proposed Transaction. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by NavSight through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: NavSight Holdings, Inc., 12020 Sunrise Valley Drive, Suite 100, Reston, VA 20191. Participants in Solicitation NavSight and the Company and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transaction. Information about the directors and executive officers of NavSight is set forth in its Form 10-K/A and Form 10-Q filed on May 12, 2021 and May 24, 2021, respectively. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is included in the Registration Statement and other relevant materials filed with the SEC regarding the Proposed Transaction. Stockholders, potential investors and other interested persons should read the Registration Statement carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above. No Offer or Solicitation This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. Forward-Looking Statements The information in this press release includes "forward-looking statements" within the meaning of the federal securities laws with respect to the Proposed Transaction. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the implementation of a world-class partner program, growing and streamlining Spire's sales organization, reaching new customer segments, expectations of accelerating Spire's sales and marketing efforts, expectations of product development and the applicability of such products to Spire's market, the strengthening of Spire's competitive advantage, the importance of Spire's products and capabilities to its target markets, the expansion of Spire's business to new regions and markets, Spire's future growth, estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, net proceeds from the Proposed Transactions, potential benefits of the Proposed Transaction and the potential success of the Company's market and growth strategies, and expectations related to the terms and timing of the Proposed Transaction. These statements are based on various assumptions and on the current expectations of NavSight's and the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of NavSight and the Company. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the risk that the Proposed Transaction may not be completed in a timely manner or at all, which may adversely affect the price of NavSight's securities; (ii) the risk that the Proposed Transaction may not be completed by NavSight's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NavSight; (iii) the failure to satisfy the conditions to the consummation of the Proposed Transaction, including the approval of the Proposed Transaction by the stockholders of NavSight, the satisfaction of the minimum trust account amount following any redemptions by NavSight's public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the inability to complete the PIPE investment in connection with the Proposed Transaction; (v) the failure to realize the anticipated benefits of the Proposed Transaction; (vi) the effect of the announcement or pendency of the Proposed Transaction on Spire's business relationships, performance, and business generally; (vii) risks that the Proposed Transaction disrupts current plans of Spire and potential difficulties in Spire employee retention as a result of the Proposed Transaction; (viii) the outcome of any legal proceedings that may be instituted against NavSight or Spire related to the business combination agreement or the Proposed Transaction; (ix) the ability to maintain the listing of NavSight's securities on the New York Stock Exchange; (x) the ability to address the market opportunity for Space-as-a-Service; (xi) the risk that the Proposed Transaction may not generate expected net proceeds to the combined company; (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the Proposed Transaction, and identify and realize additional opportunities; (xiii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (xiv) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive space data analytics industry; and those factors discussed in NavSight's Form S-4 filed on May 14, 2021 under the heading "Risk Factors," and other documents of NavSight filed, or to be filed, with the SEC. If any of these risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither NavSight nor the Company presently know or that NavSight and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect NavSight's and the Company's expectations, plans or forecasts of future events and views as of the date of this press release. NavSight and the Company anticipate that subsequent events and developments will cause NavSight's and the Company's assessments to change. However, while NavSight and the Company may elect to update these forward-looking statements at some point in the future, NavSight and the Company specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing NavSight's and the Company's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20210616005293/en/ back
Transocean Ltd. Announces $116 Million in Harsh Environment Contract Awards STEINHAUSEN, Switzerland, June 16, 2021 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today the Transocean Barents was awarded a two-well contract in Norway with commencement expected in February 2022. The contract award is approximately 200 days in duration and adds an estimated $60 million in firm contract backlog. Additionally, the Transocean Norge was awarded a four-well contract plus five one-well options in Norway with commencement expected in March 2022. The contract award is approximately 200 days in duration and adds an estimated $56 million in firm contract backlog. About Transocean Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world. Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships. For more information about Transocean, please visit: www.deepwater.com Forward-Looking Statements The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as "possible," "intend," "will," "if," "expect," or other similar expressions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, timing of the company's newbuild deliveries, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the success of our business following prior acquisitions, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, such as COVID-19, and other factors, including those and other risks discussed in the company's most recent Annual Report on Form 10-K for the year ended December 31, 2020, and in the company's other filings with the SEC, which are available free of charge on the SEC's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize (or the other consequences of such a development worsen), or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to the company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company's website at: www.deepwater.com. This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act ("FinSA") or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean. Analyst Contact:Lexington May+1 832-587-6515 Media Contact:Pam Easton+1 713-232-7647
Select Energy Services Announces The Appointment Of Gayle L. Burleson To Its Board Of Directors And Provides Operational And Business Development UpdatesAppointed oil & gas industry veteran Gayle L. Burleson to Select Energy Services' Board of DirectorsCommenced development of three new contracted produced water recycling facilities in the Permian Basin and expansion of previously announced produced water recycling facility in Midland BasinFormed partnership with AquaNyx Midstream LLC to make strategic investments in produced water infrastructure assets in the Mid-Continent BasinInvested additional capital to support Deep Imaging Technology's acquisition of ESG Solutions, a provider of microseismic monitoring services across the energy, mining and geotechnical industries HOUSTON, June 16, 2021 /PRNewswire/ -- Select Energy Services, Inc. (NYSE: WTTR) ("Select" or "the Company"), a leading provider of sustainable full life cycle water and chemical solutions to the U.S. unconventional oil and gas industry, today announced that the Company's Board of Directors, on the recommendation of the Nominating and Governance Committee, appointed Gayle L. Burleson to serve as a director of the Company for the current term commensurate with the existing members of the Board. Ms. Burleson will also serve on the Company's Audit Committee and Compensation Committee. Ms. Burleson has over 30 years of experience in the oil and gas industry, primarily with exploration and production companies, and currently serves as an Independent Director for Chisholm Energy Holdings, LLC. Prior to joining the board at Chisholm, Ms. Burleson held multiple leadership positions with Concho Resources across 15 years, where her latest role was Senior Vice President of Business Development and Land. Prior to joining Concho Resources, Ms. Burleson served in a number of engineering and operations positions of increasing responsibility at BTA Oil Producers, Mobil Oil Corporation, Parker & Parsley Petroleum Company, and Exxon Corporation. Ms. Burleson holds a B.S. in Chemical Engineering from Texas Tech University. John Schmitz, President and CEO, stated, "We are pleased to welcome Gayle to Select's Board of Directors and believe her leadership track record, engineering background, and extensive E&P operational experience - particularly in the Permian Basin - will provide a great complementary skill set to our Board. Her valuable insights and customer perspective will further strengthen our ability to advance our partnerships with our upstream customers and execute on our strategy as the market leader in sustainable full life-cycle water and chemical solutions." Operational and Business Development Updates Select also provided a number of operational and business development updates, including the commencement of three new produced water recycling facility projects in the Permian Basin, the expansion of an existing produced water recycling facility in the Midland Basin, the formation of a strategic partnership with AquaNyx Midstream LLC ("AquaNyx Midstream"), an Oklahoma based water infrastructure company, the acquisition of existing infrastructure assets from a customer, as well as a progression in our investment in Deep Imaging Technologies Inc. ("Deep Imaging") in support of its acquisition of ESG Solutions, a microseismic data monitoring and analysis company that services the energy, mining and geotechnical industries. Mr. Schmitz added, "We are excited about the continued success we are seeing in our sustainability initiatives around water recycling. To that end, we are pleased to announce that we have commenced construction on three new fixed infrastructure produced water recycling facilities in the Permian Basin with three different customers. Additionally, we have begun the process of expanding an existing recycling facility in response to the increasing demand associated with our successful commercialization efforts with adjacent operators. These facilities streamline our customers' water logistics, reduce their costs, improve their results and help them achieve their sustainability targets by reducing their environmental impact through decreased fresh water usage and decreased waste disposal. "We also believe there is considerable opportunity to develop similar infrastructure opportunities in other basins and are excited to partner in the formation of AquaNyx Midstream in the MidContinent Basin. We see tremendous opportunity to commercialize underutilized legacy water infrastructure assets in the region through consolidation and enhanced connectivity and look forward to developing new, sustainable solutions using existing infrastructure. "Finally, we are glad to continue to support our partners at Deep Imaging and their recent acquisition of ESG Solutions. We believe their combination provides not only accretive financial benefits, but more importantly, provides a strategic avenue for Deep Imaging to create a truly unique and unmatched 3-D downhole imaging platform that will further enhance our ability to visualize the downhole performance of our water and chemical solutions," concluded Schmitz. Permian Basin Produced Water Recycling Facilities Select was recently awarded contracts underwriting the construction of three new produced water recycling facilities serving key customers in the Permian Basin, with two located in the Midland Basin and one located in the Delaware Basin. Once completed, these state-of-the-art facilities will allow Select to leverage its expertise in frac chemistry and fluid optimization and provide customers with sustainable recycling solutions that deliver a consistent water quality standard for use in completion activities, thereby decreasing both fresh water usage and waste disposal. In support of this growing Permian water infrastructure network, the Company has also acquired infrastructure from an existing customer providing one million barrels of storage capacity and is in the process of upgrading its previously announced Midland Basin produced water recycling facility to meet additional commercial demand from customers adjacent to the facility. Select has commenced construction on the two new Midland Basin fixed infrastructure produced water recycling facilities during the second quarter of 2021. Both projects are supported by long-term contracts with private operators in the Midland Basin for the purchase and delivery of recycled produced water. Each facility will support the recycling of up to 40,000 barrels of water per day while providing approximately 1.4 million barrels of adjacent recycled water storage capacity. The Company expects these facilities to be fully operational by the end of the third quarter of 2021. The third facility, currently in development, will be a centralized produced water recycling facility for a major integrated operator in the Delaware Basin. This facility is designed to recycle up to 30,000 barrels of produced water per day and will be supported by one million barrels of adjacent recycled water storage capacity. Select expects to commence construction by the end of the second quarter and be fully operational by the end of the third quarter of 2021. Additionally, the Company is in the process of expanding its previously announced Midland Basin produced water recycling facility serving Martin and Midland Counties, Texas and will soon begin installing bi-directional pipeline infrastructure to connect the facility to nearby operators to meet increasing demand from its anchor customer as well as from nearby third party operators. Once completed, these upgrades will increase the throughput capacity of the facility by 30% to 65,000 barrels of produced water per day and increase the nearby recycled water storage capacity by 40% to 2.8 million barrels. The new pipeline will be capable of transporting approximately 58,000 barrels of water per day to and from the facility. Select expects these upgrades to be complete and operational by the end of the third quarter of 2021, and to be substantially accretive given the existing infrastructure already in place. These projects supplement Select's sizable existing footprint of water storage, distribution and recycling infrastructure in the Permian Basin. In aggregate, the Company expects to spend approximately $9.5 million to construct the three new recycling facilities, to purchase the existing storage infrastructure, and to upgrade the existing produced water treatment facilities in the Midland Basin. Once completed, these projects will bring Select's total centralized produced water recycling capacity in the Permian Basin to approximately 375,000 barrels of water per day, which is supplemented by the Company's mobile recycling technologies and capabilities that are currently supporting nearly 150,000 barrels per day of active produced water recycling projects. The combined investments are contemplated within the previous guidance for $10-20 million of growth capex on a risked basis for 2021, but the speed at which they were successfully commercialized will likely result in a growth capex figure in 2021 toward the higher end of that range. Strategic Partnership with Mid-Continent Water Infrastructure Company During the second quarter of 2021, Select made a $2 million equity commitment to AquaNyx Midstream, a newly formed Oklahoma-based company focused on making strategic investments in water infrastructure assets in the Oklahoma region of the Mid-Continent Basin. AquaNyx Midstream's business strategy is to acquire, connect via pipeline, and commercialize existing underutilized water infrastructure assets to support future oil and gas activity. Additionally, Select views the strategic partnership with AquaNyx Midstream as an opportunity to source produced water for reuse and further develop full life-cycle water and chemical solutions in this region. Increased Investment in Deep Imaging in Support of Strategic Acquisition of ESG Solutions During the second quarter of 2021, Select invested an additional $1 million in Deep Imaging, a leading provider of downhole frac fluid tracking and imaging technology to support its acquisition of ESG Solutions, a leading microseismic instrumentation, data acquisition, analysis and interpretation services company supporting the energy, mining and geotechnical industries. A combination of ESG Solution's microseismic-based service offerings with Deep Imaging's suite of frac fluid tracking technologies will provide customers with an even deeper understanding of their projects through a complete integrated set of analytics and visualizations as well as an unprecedented level of contiguous data, capable of delivering real-time three-dimensional subsurface modeling for customers. About Select Energy Services, Inc. Select Energy Services, Inc. ("Select") is a leading provider of comprehensive water management and chemical solutions to the unconventional oil and gas industry in the United States. Select provides for the sourcing and transfer of water, both by permanent pipeline and temporary hose, prior to its use in the drilling and completion activities associated with hydraulic fracturing, as well as complementary water-related services that support oil and gas well completion and production activities, including containment, monitoring, treatment and recycling, flowback, hauling, gathering and disposal. Select, under its Rockwater Energy Solutions brand, develops and manufactures a full suite of specialty chemicals used in the well completion process and production chemicals used to enhance performance over the producing life of a well. Select currently provides services to exploration and production companies and oilfield service companies operating in all the major shale and producing basins in the United States. For more information, please visit Select's website, http://www.selectenergy.com. Cautionary Statement Regarding Forward-Looking Statements All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "believe," "expect," "will," "estimate" and other similar expressions. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Factors that could materially impact such forward-looking statements include, but are not limited to: the severity and duration of world health events, including the COVID-19 pandemic, related economic repercussions and the resulting severe disruption in the oil and gas industry and negative impact on demand for oil and gas, which is negatively impacting our business; actions by the members of OPEC+ with respect to oil production levels and announcements of potential changes in such levels, including the ability of the OPEC+ countries to agree on and comply with supply limitations; operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees, remote work arrangements, performance of contracts and supply chain disruptions; the level of capital spending and access to capital markets by oil and gas companies, including significant recent reductions and potential additional reductions in capital expenditures by oil and gas producers in response to commodity prices and dramatically reduced demand; trends and volatility in oil and gas prices, and our ability to manage through such volatility; and other factors discussed or referenced in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2020, our subsequently filed Quarterly Reports on Form 10-Q and those set forth from time to time in our other filings with the SEC. Investors should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law. WTTR-PR Contacts: Select Energy Services Chris George - VP, Investor Relations & Treasurer (713) 296-1073 [email protected] Dennard Lascar Investor Relations Ken Dennard / Lisa Elliott 713-529-6600 [email protected] View original content:http://www.prnewswire.com/news-releases/select-energy-services-announces-the-appointment-of-gayle-l-burleson-to-its-board-of-directors-and-provides-operational-and-business-development-updates-301313442.html SOURCE Select Energy Services, Inc.
INVESTIGATION ALERT: Halper Sadeh LLP Investigates FBNC, AVCO, XEC, CLDR, SBBP; Shareholders are Encouraged to Contact the Firm NEW YORK, June 15, 2021 /PRNewswire/ -- Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: First Bancorp (NASDAQ: FBNC) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Select Bancorp, Inc. Select Bancorp shareholders are expected to receive First Bancorp common stock in connection with the merger. If you are a First Bancorp shareholder, click here to learn more about your rights and options. Avalon GloboCare Corp. (NASDAQ: AVCO) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Hebei Senlang Biotechnology Co. Ltd. In connection with the transaction, Avalon will reportedly issue 81 million shares of its common stock to acquire SenlangBio. If you are an Avalon shareholder, click here to learn more about your rights and options. Cimarex Energy Co. (NYSE: XEC) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Cabot Oil & Gas Corporation. Under the terms of the agreement, Cimarex Energy shareholders will receive 4.0146 shares of Cabot Oil common stock for each share of Cimarex Energy common stock owned. If you are a Cimarex Energy shareholder, click here to learn more about your rights and options. Cloudera, Inc. (NYSE: CLDR) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to affiliates of Clayton, Dubilier & Rice and KKR for $16.00 in cash per share. If you are a Cloudera shareholder, click here to learn more about your rights and options. Strongbridge Biopharma plc (NASDAQ: SBBP) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Xeris Pharmaceuticals, Inc. Under the terms of the merger, Strongbridge shareholders will receive 0.7840 shares of the combined company and 1 contingent value right ("CVR") for each Strongbridge share that they own. The CVR is worth up to $1.00 in cash or stock of the combined company upon achievement of certain triggering events. If you are a Strongbridge shareholder, click here to learn more about your rights and options. Halper Sadeh LLP may seek increased consideration, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLP Daniel Sadeh, Esq.Zachary Halper, Esq.(212) 763-0060 [email protected] [email protected] https://www.halpersadeh.com View original content to download multimedia:http://www.prnewswire.com/news-releases/investigation-alert-halper-sadeh-llp-investigates-fbnc-avco-xec-cldr-sbbp-shareholders-are-encouraged-to-contact-the-firm-301313297.html SOURCE Halper Sadeh LLP
Range Board Forms ESG and Safety Committee, Announces Responsibly Sourced Natural Gas Pilot Program FORT WORTH, Texas, June 15, 2021 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced the formation of a new Environmental Social Governance (ESG) and Safety Committee by the Board of Directors. Range also committed to a pilot project with Project Canary to certify the production of responsibly sourced natural gas (RSG) following a review of the Company's operations under Project Canary's TrustWell Certification program. ESG and Safety Committee Range has a proven track record of addressing key ESG matters through the development and implementation of leading sustainability practices and engineering solutions across its operations. With the increasing importance of ESG, the Board has formed a dedicated committee to review workplace safety matters and key ESG risks and opportunities. The Committee will provide oversight in expanding current ESG efforts and communicating measurable results related to these initiatives. Margaret Dorman, an Independent Director, chairs the new ESGS Committee, and all Independent Directors currently serve on the Committee. "The ESGS Committee will bolster the Board's oversight of specific ESG and safety initiatives that are of strategic importance to Range and critical to its long-term success," said Dorman. "We will continue to work with the management team to identify opportunities that align with our commitments to provide clean energy and deliver sustainable value to our shareholders." Responsibly Sourced Natural Gas Pilot Program Range has entered into a pilot program with Project Canary, utilizing the Canary X continuous monitoring technology at two pad locations in Southwestern Pennsylvania. The company will also participate in the TrustWell certification process that seeks to certify the Company's responsibly sourced natural gas (RSG). A European multinational energy utility engaged in both domestic and international energy markets is also involved in this partnership and has agreed to purchase Range's produced RSG. "Range has set ambitious emissions reduction goals including a target of net zero GHG emissions by 2025, demonstrating our focus on continuing to reduce our environmental and operating footprint," said Jeff Ventura, Range's Chief Executive Officer. "This partnership aligns with our long-standing commitment to class-leading environmental practices and enhances our commitment to supplying clean energy to help power our modern world." This pilot program will seek to validate the production of responsibly sourced natural gas through monitoring and the TrustWell certification process. The TrustWell certification process will provide verifiable, trusted ESG data, and certainty for current and potential business partners. "Our technologies and certification of operations are enabling companies to participate in and accelerate the energy transformation," said Project Canary co-founder & CEO Chris Romer. "Stakeholders and the global market are demanding more sustainably developed resources. This pilot project reflects the company's commitment to continued ESG leadership in the Marcellus." Appalachia producers have achieved the lowest CO2 intensities of any shale basin in the United States, and Range is amongst the lowest in the country with a production GHG intensity below 0.25 MT CO2e per Mmcfe. RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com. SOURCE: Range Resources Corporation Range Investor Contacts: Laith Sando, Vice President Investor [email protected] Range Media Contacts: Mark Windle, Director of Corporate [email protected]
Par Pacific Announces Paydown of $85 Million Principal Amount of Debt HOUSTON, June 15, 2021 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) ("Par Pacific") today announced the paydown of an aggregate $85 million principal amount of debt. On June 14, 2021, Par Petroleum LLC redeemed $36.75 million aggregate principal amount of its 12.875% Senior Secured Notes due 2026 at a redemption price of 112.875% of the aggregate principal amount of the notes redeemed, plus the accrued and unpaid interest as of the redemption date. Following the redemption, $68.25 million in aggregate principal amount of the Senior Secured Notes due 2026 remain outstanding. On June 15, 2021, the remaining $48.7 million aggregate principal amount of Par Pacific's 5.00% Convertible Senior Notes due 2021 matured and were paid in full. In addition, Par Hawaii Refining, LLC ("PHR") recently announced that it had entered into a Second Amended and Restated Supply and Offtake Agreement with J. Aron & Company LLC, pertaining to crude oil supply and offtake arrangements for PHR's Hawaii refineries, effective through May 31, 2024. "As a result of these debt repayments, we have reduced our outstanding funded debt by $85 million while liquidity remains in excess of $200 million," said Will Monteleone, Chief Financial Officer. "These actions are consistent with our capital allocation priorities and reduce our funding costs." About Par Pacific Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, owns and operates market-leading energy, infrastructure, and retail businesses. Par Pacific's strategy is to acquire and develop businesses in logistically complex markets. Par Pacific owns and operates one of the largest energy networks in Hawaii with 94,000 bpd of operating refining capacity, a logistics system supplying the major islands of the state and 90 retail locations. In the Pacific Northwest and the Rockies, Par Pacific owns and operates 60,000 bpd of combined refining capacity, related multimodal logistics systems, and 31 retail locations. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com. For more information contact:Ashimi PatelSenior Manager, Investor Relations(832) [email protected]
Aaron's Delivers New Laptops To Graduating SeniorsAt First Tee - Metro Atlanta Youth Participant Celebration ATLANTA, June 15, 2021 /PRNewswire/ -- The Aaron's Company (NYSE: AAN), a leading omnichannel provider of lease-to-own and purchase solutions, announced its support of youth development organization First Tee - Metro Atlanta, making a $25,000 commitment at the First Tee - Metro Atlanta Youth Participant Celebration. The donation includes $15,000 in direct support for First Tee - Metro Atlanta's programs and $10,000 toward new, college-ready laptop computers for the organization's 16 graduating seniors. The computers were awarded as a surprise from Aaron's on June 5 at First Tee - Metro Atlanta Youth Participant Celebration, a ceremony honoring the graduating high school seniors who completed the program. "We take pride in partnering with organizations who are making a difference in the community," said Douglas Lindsay, Chief Executive Officer of The Aaron's Company. "First Tee's mission to enhance the lives of our city's youth through the game of golf is unique, so we were excited to get involved and help support the high achievers in their program. We look forward to sending this year's graduates off into the next chapter of their lives with the right tools to succeed in whatever paths they choose." First Tee - Metro Atlanta is a youth development organization. Its mission is to positively impact the lives of Metro Atlanta's young people by providing educational programs that build character, instill life-enhancing values and promote healthy choices through the game of golf. Serving children between the ages of 7 and 17, First Tee - Metro Atlanta enables kids and teens to build the strength of character that empowers them through a lifetime of new challenges by seamlessly integrating the game of golf with life skills. First Tee - Metro Atlanta was founded in 1999 in Southwest Atlanta and serves an eight-county metro area. "We thank Aaron's for stepping forward to help our graduates enter the next phase of their lives with the confidence and skills First Tee - Metro Atlanta has instilled in them. We would not be where we are today without the unwavering support of our partners," said Marvin Hightower, Executive Director of First Tee - Metro Atlanta. "Aaron's generosity will have a significant impact on each of our graduates as they pursue their college dreams, so it's difficult to find words that adequately describe what this means for them. We are incredibly grateful to Douglas and his team and their support of our mission." For more information about First Tee - Metro Atlanta visit firstteeatlanta.org. About The Aaron's CompanyHeadquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a leading omnichannel provider of lease-to own and purchase solutions. Aaron's engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com. For more information, visit Aarons.com or investor.aarons.com. About First TeeHeadquartered in Ponte Vedra, FL, First Tee is a youth development organization that enables kids to build the strength of character that empowers them through a lifetime of new challenges. By seamlessly integrating the game of golf with a life skills curriculum, First Tee creates active learning experiences that build inner strength, self-confidence and resilience that kids can carry to everything they do. These character education programs are offered at golf courses, schools and youth centers in all 50 states and six international locations. View original content to download multimedia:http://www.prnewswire.com/news-releases/aarons-delivers-new-laptops-to-graduating-seniors-301313029.html SOURCE The Aaron's Company, Inc.
DCP Midstream to Participate in J.P. Morgan 2021 Energy, Power & Renewables Conference DENVER, June 15, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Sean O'Brien, group vice president and chief financial officer and Bill Johnson, group vice president and chief transformation officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the J.P. Morgan 2021 Energy, Power & Renewables Conference on June 22, 2021. The materials to be used at this conference are posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com. ABOUT DCP MIDSTREAM, LP DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP's general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com. DCP Investor Relations Mike Fullman (303) 605-1628
Precision Drilling Corporation Announces Closing of Offering of US$400,000,000 of 6.875% Senior Notes Due 2029 and Redemption of 7.75% Senior Notes Due 2023 and 5.25% Senior Notes Due 2024 CALGARY, Alberta, June 15, 2021 (GLOBE NEWSWIRE) -- Precision Drilling Corporation ("Precision" or the "Company") announced today the closing of its previously announced private offering of US$400 million aggregate principal amount of 6.875% Senior Notes due 2029 (the "Notes"), issued at a price equal to 99.253% of the face value, in a transaction that was exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Notes are guaranteed on a senior unsecured basis by current and future U.S. and Canadian subsidiaries of Precision that also guarantee Precision's revolving credit facility and certain other future indebtedness. As previously announced, Precision will use the net proceeds from the offering, together with unutilized capacity under its revolving credit facility to: (i) redeem in full US$286 million aggregate principal amount of its 7.750% Senior Notes due 2023 (the "2023 Notes") and (ii) redeem in full US$263 million aggregate principal amount of its 5.250% Senior Notes due 2024 ("2024 Notes"). The redemption of the 2023 Notes and 2024 Notes will occur on June 16, 2021 and interest will cease to accrue on the 2023 Notes and 2024 Notes on that date. The Notes and the related guarantees were offered only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About PrecisionPrecision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as "Alpha" that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Additionally, Precision offers well service rigs, camps and rental equipment and directional drilling services all backed by a comprehensive mix of technical support services and skilled, experienced personnel. Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol "PD" and on the New York Stock Exchange under the trading symbol "PDS." For further information, please contact: Carey Ford, Senior Vice President & Chief Financial Officer713.435.6100 800, 525 - 8th Avenue S.W. Calgary, Alberta, Canada T2P 1G1 Website: www.precisiondrilling.com
CONTANGO INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Contango Oil & Gas Company - MCF NEW ORLEANS, Jun. 15 /BusinessWire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed merger of Contango Oil & Gas Company (NYSE:MCF) with Independence Energy, LLC pursuant to which Contango shareholders will end up owning only approximately 24% of the combined company. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-mcf/ to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005899/en/ back
Relevium Announces Shareholder Townhall and Conference Call MONTREAL, June 15, 2021 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V:"RLV", OTCQB:"RLLVF" and Frankfurt: "6BX") (the "Company" or "Relevium"), is pleased to invite all shareholders, partners, affiliates and interested parties to attend a "TOWN HALL" Investor Relations conference call to be hosted by Aurelio Useche, CEO on Wednesday, June 30, 2021 at 4:15 PM Eastern Standard Time. During the call, Aurelio Useche, CEO will provide an overall update on activities and discuss future outlook for the new fiscal 2022 year. In addition to an update, the CEO will be hosting a surprise guest who will enrich the conversation and provide further insight for the coming year. DETAILS FOR THE CONFERENCE CALL Date and Time: Wednesday June 30, 2021, at 4:15PM Eastern Time. Registration: Attendees must register in advance by CLICKING HEREQ&A Session: Please submit your questions to [email protected] using subject line "Question" We welcome the participation of all stakeholders including shareholders and investors alike. About Relevium TechnologiesRelevium is a publicly traded Company that operates in the health and wellness industry, including cannabinoids, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets and cannabinoids. The Company pursues its business strategy through an acquisition and partnership model in a holistic approach to encompass a wide range of health and wellness consumer products. Relevium operates through two wholly owned subsidiaries: BGX E-Health LLC (BGX), based in Orlando, Florida, markets dietary supplements, nutraceuticals, sports nutrition and cosmeceuticals primarily through its Bioganix® brand portfolio in the US and Europe. Relevium's premium brands are sold at some of the world's largest retailers including Walmart.com and Amazon.com. Biocannabix Health Corporation (BCX), based in Montreal, Quebec, is a biopharma nutraceutical Company focused on delivering pediatric endo-medicinal nutraceuticals for cannabinoid therapy. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking StatementsThis release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the timing and completion of the proposed acquisitions, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the Company will be able to apply for and ultimately obtain an ACMPR licence, the proposed business of Biocannabix will develop as anticipated, that the Company will raise sufficient funds to develop the Biocannabix business, and that the Company will obtain all requisite regulatory approvals. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the proposed business developments may not occur as planned; the timing and receipt of requisite approvals and failure to raise sufficient funds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. On Behalf of the Board of Directors RELEVIUM TECHNOLOGIES INC. Aurelio UsechePresident and CEO For more information about this press release: Tel: +1.888.528.8687 RELEVIUM TECHNOLOGIES INCEmail: [email protected] Website: www.releviumtechnologies.com Like us on FacebookFollow us on Twitter Follow us on LinkedIn
Equinor Awards Subsea Integration Alliance EPCI Contract for Bacalhau Integration and open collaboration will help Equinor unlock Bacalhau's full potential HOUSTON, Jun. 15 /BusinessWire/ -- Schlumberger announced today an award to Subsea Integration Alliance of a large contract by Equinor on its Bacalhau project offshore Brazil. The contract scope covers the engineering, procurement, construction and installation (EPCI) of the subsea production systems (SPS) and subsea pipelines (SURF). The development will include 19 trees as well as associated subsea equipment including subsea wellheads, subsea controls and connection systems, and a full completion workover riser. The SURF scope comprises rigid risers, flowlines, and umbilicals. The Subsea Integration Alliance team established during the initial front-end engineering design phase, awarded in January 2020, will now transition into the full EPCI phase. Project management and detailed engineering will take place in Rio de Janeiro. Offshore activities will commence in 2022 using Subsea 7's reel-lay, flex-lay and light construction vessels. "This award reflects our commitment to enhance the performance of Equinor's Bacalhau field through an open collaboration approach, with the integration and application of innovative subsea technology solutions building on Schlumberger's high pressure and deepwater expertise," said Donnie Ross, president, Production Systems, Schlumberger. "At the same time, this will have a positive impact on the regional economy through in-country value creation." "We have worked closely with Equinor since the FEED award back in 2020," said Stuart Fitzgerald, CEO, Subsea Integration Alliance LLC. "Now in the EPCI phase, we will support Equinor in maximizing the Bacalhau field's potential through Subsea Integration Alliance's leading portfolio of technologies and services, and a `one team' approach to project delivery." The Bacalhau Field is located 185 km from the coast of the municipality of Ilhabela, in the state of São Paulo, at a water depth of 2,050 m. Bacalhau is Brazil's first integrated SPS and SURF project. The award is a significant endorsement of Subsea Integration Alliance's strong position within the integrated market and our long-established local presence in Brazil. About Schlumberger Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all. Find out more at www.slb.com. About Subsea Integration Alliance Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea 7 and OneSubsea®, the subsea technologies, production, and processing systems division of Schlumberger, bringing together field development planning, project delivery and total lifecycle solutions under an extensive technology and services portfolio. As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver and operate the smartest subsea projects. This eliminates costly revisions, avoids delays and reduces risk across the life of field. For more information, visit www.subseaintegrationalliance.com. Cautionary Statement Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws - that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "can," "estimate," "intend," "anticipate," "will," "potential," "projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, certain technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from the strategies, initiatives or partnerships of Schlumberger and Subsea Integration Alliance; and other risks and uncertainties detailed in Schlumberger's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in these forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005752/en/ back
Denbury To Present at J.P. Morgan Energy, Power & Renewables Conference PLANO, Texas, Jun. 15 /BusinessWire/ -- Denbury Inc. (NYSE:DEN) ("Denbury" or the "Company") today announced that Chris Kendall, President and Chief Executive Officer, will participate in a fireside chat at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 23, 2021, at 11:10 a.m. Central Time (12:10 p.m. Eastern Time). Mr. Kendall and other members of management will also participate in virtual meetings with investors. Supplemental corporate materials for the conference will be posted to the Company's website the morning of Tuesday, June 22, 2021, and a link to the live webcast of the fireside chat will be available in the Investor Relations section of the Company's website at www.denbury.com. Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over three million tons of captured industrial-sourced CO2 annually, and its objective is to fully offset its Scope 1, 2, and 3 CO2 emissions within this decade, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005404/en/ back