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Aquatech Acquires Koch's Direct Lithium Extraction Business, Integrating Li-Pro™ DLE into the PEARL™ Technology Platform
Aquatech Acquires Koch's Direct Lithium Extraction Business, Integrating Li-Pro™ DLE into the PEARL™ Technology Platform CANONSBURG, Pa., Sept. 16, 2025 /PRNewswire/ -- Aquatech has acquired Koch Technology Solutions' (KTS) direct lithium extraction (DLE) business, integrating the Li-Pro™ Lithium Selective Sorption (LSS) technology and extensive Li-Pro IP portfolio into the PEARL™ process technology platform. The acquisition of KTS' Li-Pro LSS technology adds direct lithium extraction to Aquatech's extensive process flowsheet IP, lithium conversion and crystallization capabilities. With this addition, Aquatech's PEARL platform becomes the only commercially proven, end-to-end flowsheet solution for lithium processing. Spanning lithium extraction, purification and refining, the PEARL process technology platform delivers high-purity battery materials for electric vehicles (EV) and utility-scale electricity storage systems (ESS). The integration and optimization of upstream and downstream lithium processing will empower lithium resource owners with modularized process solutions at scale. This approach improves project bankability by removing process risk, accelerating project schedules and reducing the total cost of lithium production. Li-Pro LSS will be available under technology license as part of the PEARL full flowsheet licensing offerings. As part of the acquisition, all ongoing lithium extraction projects utilizing Li-Pro technology and associated licenses, agreements and performance guarantees will be transferred to Aquatech. This includes KTS' role in the Joint Development Agreement (JDA) with Standard Lithium Ltd. (TSXV:SLI) (NYSE:A:SLI) in the Smackover Formation, where they have completed over 12,000 operational cycles using Li-Pro technology at their demonstration plant and achieved an average lithium recovery of over 95%. It also includes a licensing agreement with Smackover Lithium, a joint venture between Standard Lithium and Equinor (NYSE:EQNR) (OSE:EQNR), for the first phase of its South West Arkansas project. The project is among the largest lithium projects in the US, with an initial phase of 22,500 tons per annum (tpa) of lithium carbonate equivalent targeting first production in 2028, with significant scope for future expansion. "Koch Technology Solutions has proven the Li-Pro LSS technology as a successful DLE solution, and the time has come to scale it for the market. Aquatech is uniquely placed to scale this technology and deliver it into projects as a cost competitive, end-to-end process solution, creating significant value for the lithium industry," commented Dave Dotson, President at Koch Engineered Solutions, the parent company of KTS. "We are confident that our legacy lithium customers will benefit from the broader offering of Aquatech. More broadly, Koch continues to maintain an active interest in the success of the technology via its investments in several key companies within the lithium minerals and lithium battery industries," said Garrett Krall, Critical Minerals & Lithium Business Leader at Koch Technology Solutions. "Fragmented technology offerings increase project cost, risk and time-to-market, which has hindered the ramp-up of urgently needed critical minerals production in the Americas and Europe. Bringing Li-Pro into the PEARL technology platform solves this pressing industry need by offering the only proven full flowsheet solution that encompasses both upstream and downstream lithium processing technology," commented Venkee Sharma, Executive Chairman at Aquatech. Mr. Sharma continued, "We welcome the KTS Li-Pro team to Aquatech and commend them on the pioneering work done to develop Li-Pro LSS. With over 45 years of experience scaling commercially proven technologies, we are excited to evolve Li-Pro LSS both as a standalone technology offering and as part of the PEARL platform." About AquatechAquatech leverages innovative technology, engineering and execution leadership to solve the world's most demanding process challenges in lithium, critical minerals and industrial water. Aquatech's technology portfolio, project execution and service capabilities are grounded in a culture of performance excellence built up over four decades, with thousands of facilities using our solutions in over 60 countries.www.aquatech.com About Koch Technology SolutionsKoch Technology Solutions (KTS) is a leader in technology licensing, delivering operating efficiency and capital productivity for licensees deploying the technologies in our portfolio. KTS partners with companies developing chemical process technologies to create attractive licensing solutions for commercial deployment, helping to bring the next generation of process technologies to the market.www.kochtechsolutions.com View original content to download multimedia:https://www.prnewswire.com/news-releases/aquatech-acquires-kochs-direct-lithium-extraction-business-integrating-li-pro-dle-into-the-pearl-technology-platform-302558347.html SOURCE Aquatech
Forum Energy Technologies to Participate in Water Tower Research Fireside Chat
Forum Energy Technologies to Participate in Water Tower Research Fireside Chat HOUSTON, Sep. 16 /BusinessWire/ -- Forum Energy Technologies, Inc. (NYSE:FET) announced today that Neal Lux, President and Chief Executive Officer, and Lyle Williams, Executive Vice President and Chief Financial Officer, will participate in a fireside chat with Water Tower Research on Thursday, September 18, 2025 at 10:00 a.m. Central Time. The event is open access and interested parties can register through the following link: https://us06web.zoom.us/webinar/register/2017575113620/WN_sntytto3SO-Kr-CF2ENr4w A link to the live webcast will also be available on FET's Investor Relations web page at ir.f-e-t.com the morning of the event. FET® is a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit www.f-e-t.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250916999481/en/ back
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates BRY, PBPB, VMEO on Behalf of Shareholders
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates BRY, PBPB, VMEO on Behalf of Shareholders NEW YORK, Sept. 16, 2025 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Berry Corporation (NASDAQ: BRY)'s sale to California Resources Corporation for 0.0718 shares of California Resources common stock for each share of Berry common stock. If you are a Berry shareholder, click here to learn more about your rights and options. Potbelly Corporation (NASDAQ: PBPB)'s sale to RaceTrac, Inc. for $17.12 per share in cash. If you are a Potbelly shareholder, click here to learn more about your rights and options. Vimeo, Inc. (NASDAQ: VMEO)'s sale to Bending Spoons for $7.85 per share in cash. If you are a Vimeo shareholder, click here to learn more about your rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Esq.Zachary Halper, Esq.(212) 763-0060sadeh@halpersadeh.comzhalper@halpersadeh.com https://www.halpersadeh.com View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-investigation-halper-sadeh-llc-investigates-bry-pbpb-vmeo-on-behalf-of-shareholders-302558046.html SOURCE Halper Sadeh LLP
Transaction in Own Shares
Transaction in Own Shares Transaction in Own Shares 16 September, 2025 o o o o o o o o o o o o o o o o Shell plc (the `Company') announces that on 16 September, 2025 it purchased the following number of Shares for cancellation. Aggregated information on Shares purchased according to trading venue: These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 31 July 2025. In respect of this programme, HSBC Bank plc will make trading decisions in relation to the securities independently of the Company for a period from 31 July 2025 up to and including 24 October 2025. The on-market limb will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company's general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes ("EU MAR") and EU MAR as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310), from time to time ("UK MAR") and the Commission Delegated Regulation (EU) 2016/1052 (the "EU MAR Delegated Regulation") and the EU MAR Delegated Regulation as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310), from time to time. In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by HSBC Bank plc on behalf of the Company as a part of the buy-back programme is detailed below. Enquiries Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html LEI number of Shell plc: 21380068P1DRHMJ8KU70 Classification: Acquisition or disposal of the issuer's own shares Attachment Shell RNS (Extended) 20250916
ARIS WATER INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Aris Water Solutions, Inc. - ARIS
ARIS WATER INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Aris Water Solutions, Inc. - ARIS NEW YORK & NEW ORLEANS, Sep. 16 /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 sale of Aris Water Solutions, Inc. (NYSE:ARIS) to Western Midstream Partners, LP (NYSE:WES). Under the terms of the proposed transaction, Aris shareholders may elect to receive 0.625 WES common units, $25.00 in cash (without interest), or a combination of both, for each share of Aris common stock held, with the cash consideration being subject to proration to ensure that the total cash consideration paid by WES will not exceed $415 million of the aggregate merger consideration. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration 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 (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-aris/ to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com. CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn View source version on businesswire.com: https://www.businesswire.com/news/home/20250916649622/en/ back
Presenting at the Investor Summit Q3 2025 on September 16; Watch the Live Stream for Free
Presenting at the Investor Summit Q3 2025 on September 16; Watch the Live Stream for Free NEW YORK, NY / ACCESS Newswire / September 16, 2025 / Investor Summit Group, the premier destination for virtual microcap conferences, is proud to announce the schedule for its upcoming Q3 Investor Summit Virtual on Sept 16, 2025.Designed to maximize visibility for issuers and efficiency for investors, the event will showcase companies with strong leadership, innovative products, and clear paths to growth. Investor Summit continues to be the go-to platform for connecting quality companies with serious investors.Register for any of these presentations to unlock full access and watch the presenters live.Happening LIVE today, September 16, 20259:00 - 9:30 AM ESTUxin Limitedhttps://investorsummitgroup.com/presentor/track-2-uxin-limited/Aurora Mobile Limitedhttps://investorsummitgroup.com/presentor/track-3-aurora-mobile-limited/9:30 - 10:00 AM EST51Talk Online Education Grouphttps://investorsummitgroup.com/presentor/track-2-51talk-online-education-group/SuperCom Ltd.https://investorsummitgroup.com/presentor/track-3-supercom-ltd/10:00 - 10:30 AM ESTCabbacishttps://investorsummitgroup.com/presentor/track-2-cabbacis/10:30 - 11:00 AM ESTProtalix BioTherapeutics, Inc.https://investorsummitgroup.com/presentor/q3-track-1-protalix-biotherapeutics-inc/Cerrado Gold Inc.https://investorsummitgroup.com/presentor/q3-track-2-cerrado-gold-inc/Unusual Machines, Inc.https://investorsummitgroup.com/presentor/q3-track-3-unusual-machines-inc/11:00 - 11:30 AM ESTNowVertical Group Inc.https://investorsummitgroup.com/presentor/q3-track-2-nowvertical-group-inc/11:30 - 12:00 PM ESTCompugen Ltd.https://investorsummitgroup.com/presentor/q3-track-1-compugen-ltd/Sharon AIhttps://investorsummitgroup.com/presentor/q3-track-2-sharon-ai/12:00 - 12:30 PM ESTPelthos Therapeutics Inc.https://investorsummitgroup.com/presentor/q3-track-1-pelthos-therapeutics-inc/1:00 - 1:30 PM ESTNautilus Biotechnology, Inc.https://investorsummitgroup.com/presentor/q3-track-1-nautilus-biotechnology-inc/United States Antimony Corphttps://investorsummitgroup.com/presentor/q3-track-2-united-states-antimony-corp/MIND Technology, Inc.https://investorsummitgroup.com/presentor/q3-track-3-mind-technology-inc/1:30 - 2:00 PM ESTGlucoTrack, Inc.https://investorsummitgroup.com/presentor/q3-track-1-glucotrack-inc/CEMATRIX Corporationhttps://investorsummitgroup.com/presentor/q3-track-2-cematrix-corporation/DHI Group, Inc.https://investorsummitgroup.com/presentor/q3-track-3-dhi-group-inc/2:00 - 2:30 PM ESTGenprex, Inc.https://investorsummitgroup.com/presentor/q3-track-1-genprex-inc/Cannara Biotechhttps://investorsummitgroup.com/presentor/q3-track-2-cannara-biotech/Everspin Technologieshttps://investorsummitgroup.com/presentor/q3-track-2-everspin-technologies/2:30 - 3:00 PM ESTHelix BioPharma Corp.https://investorsummitgroup.com/presentor/q3-track-1-helix-biopharma-corp/Peraso Inc.https://investorsummitgroup.com/presentor/q3-track-2-peraso-inc/3:30 - 4:00 PM ESTGrace Therapeutics, Inc.https://investorsummitgroup.com/presentor/q3-track-1-grace-therapeutics-inc/About Investor Summit GroupInvestor Summit Group is redefining investor engagement for microcap and small-cap companies. Our mission is simple: connect quality companies with serious investors in the most efficient and cost-effective way possible. We eliminate unnecessary distractions, focus on real investor access, and deliver results that help issuers grow their shareholder base.Contact:If you'd like to meet with any of these companies, please email:johnna-mae@investorsummitgroup.comSOURCE: Investor Summit GroupView the original press release on ACCESS Newswire
Barnwell Directors Adjourn Annual Meeting Again, Impose Bylaw Amendment to Restrict Opposition Shareholders' Voice
Barnwell Directors Adjourn Annual Meeting Again, Impose Bylaw Amendment to Restrict Opposition Shareholders' Voice Vero Beach, Florida--(Newsfile Corp. - September 16, 2025) - The Sherwood Group, a long-term and significant shareholder with approximately 29.90% of the issued and outstanding shares of Barnwell Industries, Inc. ("Barnwell" or "BRN"), issued the following letter today to shareholders of Barnwell: Dear Fellow Shareholders of Barnwell Industries, Inc.: Not surprisingly, the last two remaining directors (Grossman and Horowitz) of Barnwell Industries, Inc.'s ("BRN" or "Barnwell") adjourned the Barnwell 2025 Annual Meeting to September 19, 2025, because of their failure to secure a quorum once again. Obviously, they failed to secure a quorum because shareholders refused to change their vote from the Green Card to Management's White Card. Of course, in typical fashion, rather than listen to the will of the shareholders, Grossman and Horowitz have once again robbed shareholders of their voice by disingenuously manipulating the annual meeting process in the interest of getting themselves and two others elected to the Board without having to renominate directors and call for a new annual meeting for 2025. They voted to amend the BRN's bylaws to reduce the quorum they need for the 2025 Annual Meeting to just 33 1/3%, all to ensure they can vote themselves into "power" again. This is the ultimate move to entrench themselves. Grossman and Horowitz like to take zero accountability and blame me for not "turning in" the Green Card but as I repeatedly told shareholders, the decision to switch to the Management White Card was always in their hands. At any time, any shareholder can re-submit their proxy on Management's White Card in support of Grossman and Horowitz. Cleary, they continue to keep their vote on the Green Card. This is why preliminary numbers on the White card show that less than 30% of shareholders support the election of Grossman and Horowitz whereas every single director candidate on the Green Card received over 43% support from shareholders. This less than 30% support for Grossman and Horowitz (and a paltry 34% for each of Hopkins and McPherson) (more on him later) is even more miserable when you consider the following shareholdings: If you count the inappropriate use of the Company pension plan to buy up Barnwell shares to pad their "insider group" ownership stake, that 6.2% interest brings them to 32.8%. This implies that EVERY SINGLE director candidate on Management's white card, including Grossman, Horowitz, Hopkins and McPherson currently have less than 5% shareholder support outside of their "insider group." Why would any shareholder support the antics of these two lone directors or the two others they propose to elect? Grossman and Horowitz have literally pushed BRN into a going concern warning with their wasteful spending padding the pockets of Grossman's lawyer brother at Skadden, among other law firms. They have also refused to move forward with an investigation into the Texas investment, damages that could bring the Company $10.0 - $15.0 million in recovery against Kinzler and many of the current and past directors, including Phil McPherson (the candidate chosen by Grossman and Horowitz to rejoin the Board)). Grossman and Horowitz are too busy manipulating the corporate machinery to keep their board seats rather than investigate this matter, a gross violation of their fiduciary obligations in my opinion. I have said it before and will say it again. These so-called stewards of BRN take zero accountability for any of their actions on the Barnwell Board, blame me every chance they get, claim they have made credible settlement attempts with me and spew rhetoric about being open to resolving matters. But why would I bail them out now? They have taken every opportunity to drive BRN into the ground and fundamentally disgrace the very tenets of good corporate governance, so much so that not even the lone director who was elected through the consent solicitation process could stand to remain on the board with them. No reputable director would agree to join this board with them.Grossman and Horowitz are happy to put off seeking out potential damages of $10.0 - $15.0 million for BRN but have no problem stripping shareholders of their rights, manipulating the bylaws to get themselves elected, selling off Company assets in fire sales, failing to collect the small amount of cash promised to the Company from the Water sale and literally pushing BRN to the brink of bankruptcy. Grossman and Horowitz should immediately pursue any possible recoveries that stem from improper actions of Kinzler and certain other directors who were on the Board in 2022 at the time of the Texas investment (including Peter O'Malley, Frank Kelly and Phil McPherson) before the statute of limitations on this improper transaction expires. They also should take a long look in the mirror if they want to understand why BRN is currently in the position that it is in today. Only they, along with Kinzler until he was ousted, created the havoc that is BRN today. Special call out on McPherson. For shareholders who are unaware – it was McPherson, as CFO of Citadel Exploration, Inc. from 2012 - 2020 that led Citadel into insolvency. McPherson also who advocated for the Barnwell Texas debacle that is a prime contributor to Barnwell's slide towards insolvency. It was McPherson who advocated disciplinary actions against Grossman in 2022 for Grossman's "pattern of…attacks and threats against…members of the Board" (which included McPherson), and yet now McPherson desires to support Grossman – but as previously stated who else would agree to join a Board of a "going concern" risk Company with questionable governance?? I can think of no one less qualified to rejoin Barnwell's board than McPherson. As a 30% shareholder (and BRN's largest single shareholder), all this imprudent value-destroying spending impacts my investment more than anyone else, and I am not happy about it. It is clear other shareholders are not happy about it either or they would give their White card vote to Horowitz and Grossman. But, I guess, in BRN's case, you don't have to earn it, you can just take it. However, we caution Horowitz, Grossman and all other Board members who join, we expect them to pursue the wrongdoings re Texas with vigor or risk liability. Good luck!Sincerely,/s/ Ned L. Sherwood Ned L. SherwoodVoting Results Preliminary voting results are not final and may not reflect the ultimate outcome. Shareholders who have already voted may revoke their proxy and submit a new one at any time up to and including the meeting date. The Sherwood Group strongly urges shareholders not to give undue weight to the preliminary voting results and, instead, to consider all material facts concerning the election before making their voting decisions with respect to the annual meeting.If you previously voted on the Green card and wish your vote to count for purpose of the quorum and NOT for directors you previously selected, then you are free to vote the Barnwell White card.For media inquiries or further information, please contact:Alyssa BarryMedia Relations, Alliance Advisorsabarry@allianceadvisors.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/266531
Enerflex Ltd. Announces the Appointment of Paul Mahoney as President, CEO and Director
Enerflex Ltd. Announces the Appointment of Paul Mahoney as President, CEO and Director CALGARY, Alberta, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX:EFX.CA) (NYSE:EFXT) ("Enerflex" or the "Company") today announced the appointment Paul E. Mahoney as the Company's President and Chief Executive Officer, effective September 29, 2025. Mr. Mahoney will also join Enerflex's Board of Directors at the same time. The appointment follows an extensive global search process, which included the evaluation of highly qualified internal and external candidates, and was aided with the support of a global executive search firm. Kevin Reinhart, Chair of the Board, stated, "We are pleased to welcome Paul as Enerflex's new President and CEO. With over 30 years of experience across the industrial and energy sectors, Paul is a highly accomplished and seasoned executive. His broad industry experience, proven track record of developing and executing winning strategies, exemplary leadership capabilities, and fresh perspective make him the ideal candidate to drive the Company's ongoing focus on creating sustainable shareholder value". Mr. Mahoney shares Enerflex's core values and will complement the Company's deep bench strength of senior leaders. Upon assuming the role, he will be working with the leadership team in advancing the Company's strategic priorities. Enerflex's near-term priorities remain: (1) enhancing the profitability of core operations; (2) leveraging the Company's leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex's financial position, provide direct shareholder returns, and invest in select customer supported growth opportunities. Mr. Mahoney commented, "I'm looking forward to joining Enerflex at an exciting time for the Company. Enerflex is a recognized global leader and I believe the Company is well positioned to take advantage of growing global natural gas demand for years to come. I look forward to working with the Board, the senior leadership team and the talented employees to deliver on our goals for the benefit of our shareholders, client partners, employees, and communities." "On behalf of the leadership team, we look forward to working with Paul," said Preet S. Dhindsa, interim Chief Executive Officer. "His complementary skillset and experience will bring fresh insight and energy to the team as we continue to build off our solid foundation". Mr. Dhindsa, who served as interim Chief Executive Officer, will remain as Senior Vice President and CFO. Joe Ladouceur, who served as interim CFO, will remain as Vice President Treasury, Tax, and Insurance. "On behalf of the Board and all stakeholders, I would like to thank Preet and Joe for their tremendous efforts and contributions as interim leaders while the Board undertook the CEO search. Their leadership, combined with the commitment of all employees, ensured Enerflex continues to deliver results and drive shareholder value during the period of transition," said Mr. Reinhart. About Paul E. Mahoney Paul Mahoney has a distinguished track record leading global organizations across the industrial and energy sectors, delivering value through effective strategy development and execution coupled with strong culture and talent management. His career includes engineering, business development, management and executive leadership for technical solutions with industrial-based industries that are directly involved in energy production of energy-related materials. Since 2018, Mr. Mahoney has served as Group President, Production & Automation Technologies at ChampionX Corporation ("ChampionX"), a leading provider of production technologies for the upstream and midstream oil and gas markets. ChampionX was acquired by SLB in July 2025. Prior to his tenure at ChampionX, Mr. Mahoney held the role of President, Artificial Lift at Dover Corporation. He holds a Bachelor of Science degree with dual focus in Physics and Electrical Engineering from the University of Buffalo, and an MBA from the Albers School of Business and Economics at Seattle University. Mr. Mahoney also serves as a Director of Chart Industries Inc. ADVISORY REGARDING FORWARD-LOOKING INFORMATION This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" (and together with "forward-looking information", "FLI") within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words "believe", "could", "estimate", "expect", "future", "may", "should", "will" and similar expressions, (including negatives thereof) are intended to identify FLI. In particular, this news release includes (without limitation) forward-looking information and statements pertaining to the effective date of the appointment of Mr. Mahoney as President, CEO and a director of the Company, growing global natural gas demand and that such growth will continue for years to come, and expected increases in natural gas and produced water volumes and the ability of the Company to capitalize on such increases. Enerflex's expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends, including, but not limited to, assumptions that global demand for energy will continue to increase and that production activity will drive growth in natural gas and produced water volumes across Enerflex's core operating countries. As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading "Risk Factors" in: (i) Enerflex's Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex's Annual Report filed February 28, 2025, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively. The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice. ABOUT ENERFLEX Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions - from individual, modularized products and services to integrated custom solutions. With over 4,400 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts. Enerflex's common shares trade on the Toronto Stock Exchange under the symbol "EFX" and on the New York Stock Exchange under the symbol "EFXT". For more information about Enerflex, visit www.enerflex.com. For investor and media enquiries, contact: Preet S. DhindsaPresident and Chief Executive Officer (Interim)E-mail: PDhindsa@enerflex.com Jeff Fetterly Vice President, Corporate Development and Capital Markets E-mail: JFetterly@enerflex.com
USA Compression Partners, LP Announces Pricing of $750.0 Million Offering of Senior Notes
USA Compression Partners, LP Announces Pricing of $750.0 Million Offering of Senior Notes DALLAS, Sep. 15 /BusinessWire/ -- USA Compression Partners, LP (NYSE:USAC) (the "Partnership") today announced the pricing of a private placement to eligible purchasers by the Partnership and its wholly-owned subsidiary, USA Compression Finance Corp., of $750.0 million in aggregate principal amount of 6.250% senior unsecured notes due 2033 at par. The offering is expected to close on September 24, 2025, subject to customary closing conditions. The Partnership estimates that it will receive net proceeds of approximately $742.5 million, after deducting the initial purchasers' discounts and estimated offering expenses. The net proceeds from the offering, together with borrowings under its credit agreement, will be used for the redemption of all of its 6.875% senior notes due 2027 (the "Senior Notes 2027") and to pay the fees and expenses incurred in connection with this offering and the redemption of the Senior Notes 2027. Pending the use of the net proceeds to fund a portion of the redemption of the Senior Notes 2027, the Partnership may temporarily apply such net proceeds to repay outstanding borrowings under its credit agreement. The notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any other jurisdiction. Unless they are registered, the notes may be offered only in transactions that are exempt from registration under the Securities Act and applicable state securities laws. The notes are being offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and to non-U.S. persons outside the United States under Regulation S of the Securities Act. The notes will not be listed on any securities exchange or automated quotation system. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of an offering memorandum. This press release is not a notice of redemption for the Senior Notes 2027. FORWARD-LOOKING STATEMENTS Statements in this press release may be forward-looking statements as defined under federal law, including those related to the Partnership's securities offering. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of the Partnership, and a variety of risks that could cause results to differ materially from those expected by management of the Partnership. The Partnership undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. Known material factors that could cause the Partnership's actual results to differ materially from the results contemplated by such forward-looking statements are described in the Partnership's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the Securities and Exchange Commission on February 11, 2025, and in the Partnership's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 6, 2025. You should also understand that it is not possible to predict or identify all such factors and you should not consider these factors to be a complete statement of all potential risks and uncertainties. View source version on businesswire.com: https://www.businesswire.com/news/home/20250915274751/en/ back
Targa Resources Corp. Releases Sustainability Report
Targa Resources Corp. Releases Sustainability Report HOUSTON, Sept. 15, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its Sustainability Report for 2024 is now available on the Company's website at https://www.targaresources.com/sustainability. The report provides a review of Targa's performance for calendar year 2024 against various environmental, social, and governance topics that we believe are important to our industry and our business. The report references the Global Reporting Initiative ("GRI") Standards, International Financial Reporting Standards' ("IFRS"), Sustainability Accounting Standards Board's ("SASB") Oil & Gas Midstream Standard, and the Task Force on Climate-Related Financial Disclosures ("TCFD"). In addition, Targa engaged an external third party to perform an attest review engagement for certain greenhouse gas emissions and employee safety data metrics disclosed in Targa's 2024 Sustainability Report for the year ended December 31, 2024. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company's assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. Targa is a FORTUNE 500 company and is included in the S&P 500. For more information, please visit the Company's website at www.targaresources.com. Targa Investor RelationsInvestorRelations@targaresources.com(713) 584-1133
OPAL Fuels Completes Fourth Sale of IRA Investment Tax Credits
OPAL Fuels Completes Fourth Sale of IRA Investment Tax Credits WHITE PLAINS, N.Y., Sep. 15 /BusinessWire/ -- OPAL Fuels (NASDAQ:OPAL) completed the sale of $17.3 million of Inflation Reduction Act (IRA) investment tax credits generated by the Polk RNG facility, located in Polk County in Florida. "The completion of our fourth tax credit sale marks another important milestone for OPAL Fuels and for the growing market for renewable natural gas," said Jonathan Maurer, Co-Chief Executive Officer of OPAL Fuels. "As RNG plays a vital role in reducing carbon emissions and strengthening domestic energy security, supportive federal policies continue to accelerate progress by enabling long-term investment and growth in our sector." This transaction was executed under the tax framework established by the IRA and continued under the One Big Beautiful Bill Act (OBBBA), which preserves the transferability of investment tax credits. About OPAL Fuels OPAL Fuels (Nasdaq: OPAL) is a leader in the capture and conversion of biogas into low carbon intensity RNG and renewable electricity. OPAL Fuels is also a leader in the marketing and distribution of RNG to heavy duty trucking and other hard to de-carbonize industrial sectors. For additional information, and to learn more about OPAL Fuels and how it is leading the effort to capture North America's harmful methane emissions and decarbonize the economy, please visit www.opalfuels.com. Forward-Looking Statements Certain statements in this communication may be considered forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events or OPAL Fuels' (the "Company's") future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "target," "plan," "expect," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management's control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. Disclaimer This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20250915172732/en/ back
Timing Update: Houston American Energy Corp. to Host Inaugural Investor Fireside Chat at 2:00 p.m. ET
Timing Update: Houston American Energy Corp. to Host Inaugural Investor Fireside Chat at 2:00 p.m. ET HOUSTON, TX, Sept. 15, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) ("HUSA" or the "Company") today announced an updated start time for its inaugural investor fireside chat, which will now be held on September 17, 2025, at 2:00 p.m. ET in partnership with Water Tower Research. This event marks the first public investor dialogue since the Company's strategic acquisition of Abundia Global Impact Group ("AGIG"). HUSA's CEO, Ed Gillespie, will join Peter Gastreich, Managing Director at Water Tower Research, for an in-depth conversation to detail the Company's transformation into a diversified energy platform. The discussion will cover the foundational milestones achieved to date, including: The acquisition of the strategic development site in Baytown, TexasKey technology and licensing arrangementsFront-end engineering studies and partnerships "We look forward to sharing our vision for Abundia and our clear roadmap for growth," said Ed Gillespie, CEO of HUSA. "We have made significant progress in a short time, and this is an opportunity to provide a deeper look into how we are building a new leader in the conversion of waste plastics into low-carbon fuels." Investors and other interested parties can access the event by registering in advance at: HUSA - WTR Fireside Chat The presentation will also be available through HUSA's website: www.houstonamerican.com About Houston American Energy Corp.Houston American Energy Corp. (NYSE American: HUSA) is an independent energy company with a growing and diversified portfolio across both conventional and renewable sectors. Historically focused on the exploration and production of oil and natural gas, the Company is actively expanding into high-growth segments of the energy industry. In July 2025, HUSA acquired Abundia Global Impact Group, a technology-driven platform specializing in the conversion of waste plastics into low-carbon fuels and chemical feedstocks. Cautionary Note Regarding Forward-Looking Information:This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information generally is accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes, but is not limited to, statements about the future growth of the Company in the low-carbon fuels and chemicals sector as well as plans for transportation of feedstock and drop-in fuels and chemical products. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) risks and uncertainties impacting the Company's business including, risks related to its current liquidity position and the need to obtain additional financing to support ongoing operations, the Company's ability to continue as a going concern, the Company's ability to maintain the listing of its common stock on NYSE American, the Company's ability to predict its rate of growth, the Company's ability to hire, retain and motivate employees, the effects of competition on the Company's business, including price competition, technological, regulatory and legal developments, developments in the economy and financial markets, (ii) other risks as set forth from time to time in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond the control of the Company. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing the Company's business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. For additional information, view the company's website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.
Custom Truck One Source Announces Opening of New Orlando, Florida Location to Serve Growing Demand
Custom Truck One Source Announces Opening of New Orlando, Florida Location to Serve Growing Demand KANSAS CITY, Mo., Sep. 15 /BusinessWire/ -- Custom Truck One Source, Inc. (NYSE:CTOS), a leading provider of specialty equipment to the electric utility, telecom, rail, forestry, waste management and other infrastructure-related end markets, announced today the opening of a new location in Orlando, Florida on October 1, 2025. The new facility will enhance Custom Truck's ability to better serve its customers in the Florida market and the broader Southeast region. The new location is in the heart of Orlando, adding 20,000 square feet of space and 11 service bays to Custom Truck's national footprint. As part of this transition, the Company will relocate the rental service portion of their Tampa operations to Orlando while still building trucks and servicing customer equipment out of its Tampa branch. "We believe this strategic relocation of our rental operations will strengthen our overall business in Florida," said Ryan McMonagle, CEO of Custom Truck. "It reflects our long-term vision and commitment to making thoughtful decisions that support the future of our business, our people, and our customers." ABOUT CUSTOM TRUCK ONE SOURCE Custom Truck One Source is one of the largest providers of specialty equipment, parts, tools, accessories and services to the electric utility transmission and distribution, telecommunications and rail markets in North America, with a differentiated "one-stop-shop" business model. The Company offers its specialized equipment to a diverse customer base for the maintenance, repair, upgrade and installation of critical infrastructure assets, including electric lines, telecommunications networks and rail systems. The Company's coast-to-coast rental fleet of more than 10,000 units includes aerial devices, boom trucks, cranes, digger derricks, pressure drills, stringing gear, hi-rail equipment, repair parts, tools and accessories. For more information, please visit customtruck.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250915002747/en/ back
California Resources Corporation Announces All-Stock Combination with Berry Corporation
California Resources Corporation Announces All-Stock Combination with Berry Corporation Highly Accretive Transaction Across Key Financial Metrics Enhances CRC's Portfolio Combination to Create a Stronger, More Efficient Leader in California Energy LONG BEACH, Calif. and DALLAS, Sept. 15, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) ("CRC") and Berry Corporation (NASDAQ: BRY) ("Berry") jointly announced today their entry into a definitive agreement to combine in an all-stock transaction valuing Berry at approximately $717 million, inclusive of Berry's net debt1. Under the terms of the merger agreement, existing CRC shareholders are expected to own approximately 94% of the combined company upon closing. Supplemental slides have been posted to CRC's website at crc.com and Berry's website at bry.com. CRC and Berry are hosting a conference call and webcast at 9 a.m. ET (6 a.m. PT) on Monday, September 15, 2025. Conference call details can be found within this release. "The combination of CRC and Berry will create a stronger, more efficient California energy leader. This transaction is attractively valued and immediately accretive across key financial metrics, strengthening our ability to deliver sustainable value to shareholders," said CRC President and CEO Francisco Leon. "By realizing substantial corporate and operating synergies, we expect to significantly lower costs and generate higher free cash flow. Equally important, the combined company will maintain a strong balance sheet with low leverage, a robust hedge book and liquidityproviding the flexibility to pursue new development opportunities amid an improving permitting backdrop in Kern County. We are now well positioned to unlock our deep asset inventory and drive long-term cash flow per share growth." "This announcement presents a compelling value proposition for our shareholders," said Renée Hornbaker, Berry's Board Chair. "The industrial logic of this merger will allow Berry shareholders to benefit from the creation of a larger and more sustainable business, with an improved capital structure and significant operational synergies. Additionally, the strong tailwinds we are seeing on the regulatory front makes this the right time to consummate this merger. The combined company will ensure our communities have access to safe, reliable and affordable energy through responsible in-state production, all while delivering significant long-term value for shareholders." Highlights Compelling fit with CRC's low decline, conventional assets in California: The transaction will add high quality, oil-weighted, mostly conventional proved developed reserves and sustainable cash flow to CRC. On a pro forma2 basis, the combined company would have produced approximately 161 thousand barrels of oil equivalent per day (Mboe/d) (81% oil) in the second quarter of 2025 and would have held approximately 652 million barrels of oil equivalent (MMboe) proved reserves3 (87% proved developed) as of year-end 2024. As a result of this combination, CRC will also own C&J Well Services, a California-focused oilfield services subsidiary of Berry. This business will enhance CRC's ability to maintain active wells, strengthen its well abandonment capabilities, help support safe and responsible operations, mitigate future cost inflation and ensure long-term operational efficiency.Accretive to key financial metrics: The combination is expected to be accretive to net cash provided by operating activities and free cash flow. It is priced at approximately 2.9x enterprise value / 2025E adjusted EBITDAX1,4 with projected second half 2025 per share accretion to both net cash provided by operating activities4,5 and free cash flow4,5 of more than 10% before estimated synergies.Significant synergies identified, with upside potential: Within 12 months post closing, CRC expects to achieve annual synergies of $80 90 million, or approximately 12% of the transaction value1. Approximately 50% of the run-rate synergies are expected to be implemented within six months of closing and the remaining 50% of synergies are anticipated within 12 months. Synergies are expected to primarily come through corporate synergies, lower interest costs through debt refinancing, operating improvements and supply chain efficiencies.Maintains financial strength and flexibility: Post closing, CRC will retain its strong balance sheet with estimated pro forma LTM leverage ratio4 of less than 1.0x and approximately 70% of its expected second half 2025 pro forma oil production hedged at $68/Bbl Brent floor price6.Uinta Basin - strategic optionality and development upside: Berry's large, contiguous Uinta Basin position (~100,000 net acres with significant identified inventory), provides additional operational and financial optionality. Second quarter 2025 production was 4.2 MBoe/d (~65% oil/liquids, 79% NRI) with a PV-103,4 of total proved reserves of approximately $110 million as of year-end 2024. Berry recently brought online four horizontal wells which together are producing approximately 3.8 MBoe/d gross (~93% oil)7 with peak production expected in late September to early October. Transaction Details Berry shareholders will receive a fixed exchange ratio of 0.0718 shares of CRC common stock for each share of BRY common stock owned, representing a premium of 15% based on the closing prices of the stocks on Friday, September 12, 2025. Based on the closing stock prices for CRC and Berry on September 12, 2025, the exchange ratio implies an enterprise value for the combined entity of more than $6 billion1. CRC plans to refinance Berry's outstanding debt with cash on hand and borrowings under its Credit Agreement and may also pursue a new debt issuance, subject to market conditions, to further optimize its balance sheet and support long-term capital allocation priorities. CRC's strong balance sheet and liquidity position provides flexibility regarding refinancing options and timing. The transaction, which is expected to close in the first quarter of 2026, has been unanimously approved by the board of directors of both companies. Closing is subject to customary closing conditions, including receipt of required regulatory approvals and receipt of Berry shareholder approval. CRC's executive management team will lead the combined company from its headquarters in Long Beach, California. Following the close of the transaction, CRC will provide additional financial and operating guidance for the combined company. Advisors RBC Capital Markets and Petrie Partners are serving as financial advisors and Sullivan & Cromwell LLP is serving as a legal advisor to CRC. Guggenheim Securities, LLC is serving as financial advisor and Vinson & Elkins LLP is serving as legal advisor to Berry. Conference Call Details A conference call and webcast is planned for 9 a.m. ET (6 a.m. PT) on Monday, September 15, 2025. To participate in the call, dial (877) 328-5505 (International calls dial +1 (412) 317-5421) or access via webcast at www.crc.com. Participants may also pre-register for the conference call at https://dpregister.com/sreg/10202940/ffe8c57248. A digital replay of the conference call will be available for approximately 90 days. 1 Berry's transaction value was calculated as $717 million assuming 5.8 million of shares of CRC common stock are issued as consideration in the combination based on a per CRC share price of $53.01 as of September 12, 2025, plus $408 million of assumed net debt as of June 30, 2025. Based on internal management expectations and consensus estimates from FactSet as of September 12, 2025.2 Pro forma 2Q25 production is based on 2Q25 actual production for CRC and Berry from public filings. Unless otherwise noted, pro forma 2025 estimates are based on management estimates and/or FactSet consensus estimates as of September 12, 2025, and exclude estimated annualized synergies. All future quarterly dividends and share repurchases are subject to changes in commodity prices, restrictions under credit agreement covenants and the approval of CRC's Board (in the case of CRC) and Berry's Board (in the case of Berry). Pro forma 2025 estimates are forward-looking statements and actual results could differ materially.3 Reserves determined as of December 31, 2024 and use 2024 SEC Prices of $80.42 per barrel for oil and $2.13 per MMBtu for natural gas.4 Represents a non-GAAP measure. For all historical non-GAAP financial measures please see the Earning Releases or Investor Relations pages at www.crc.com and www.bry.com for a reconciliation to the nearest GAAP equivalent and other additional information. CRC and Berry are unable to provide a reconciliation of non-GAAP financial measures contained in this release that are presented on a forward-looking basis for the described transaction because CRC and Berry are unable, without unreasonable efforts, to estimate and quantify the most directly comparable GAAP components, largely because predicting future operating results is subject to many factors outside of CRC's and Berry's control and not readily predictable and that are not part of CRC's and Berry's routine operating activities, including various economic, regulatory, political and legal factors.5 Based on internal management expectations and consensus estimates from FactSet as of September 12, 2025. Net cash provided by operating activities and free cash flow are both before net changes in operating assets and liabilities and exclude targeted synergies, transaction costs, debt issuance costs and other expenses related to the transaction. Assumes 85.3 million fully-diluted shares outstanding for CRC standalone and 91.1 million fully-diluted shares outstanding for pro forma. Fully-diluted shares has been calculated as if all outstanding equity awards were accelerated upon a change in control and settled in shares.6 Based on internal management expectations and consensus estimates from FactSet as of September 12, 2025.7 Represents the 7-day average gross production for the period from September 7, 2025 to September 14, 2025. About California Resources Corporation California Resources Corporation (NYSE: CRC) is an independent energy and carbon management company committed to energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing carbon capture and storage (CCS) and other emissions reducing projects. For more information about CRC, please visit www.crc.com. About Berry Corporation Berry is a publicly traded (NASDAQ: BRY) western United States independent upstream energy company with a focus on onshore, low geologic risk, long-lived oil and gas reserves. Berry operates in two business segments: (i) exploration and production ("E&P") and (ii) well servicing and abandonment services. Its E&P assets are located in California and Utah, are characterized by high oil content and are predominantly located in rural areas with low population. Its California assets are in the San Joaquin Basin (100% oil), and its Utah assets are in the Uinta Basin (65% oil). Berry provides well servicing and abandonment services to third party operators in California and its California E&P operations through C&J Well Services (CJWS). More information can be found at the Berry's website at www.bry.com. Additional Information and Where to Find It In connection with the transaction, CRC will file with the U.S. Securities and Exchange Commission ("SEC") a registration statement on Form S-4 (the "registration statement"), which will include a proxy statement of Berry that also constitutes a prospectus of CRC, and any other documents in connection with the transaction. The definitive proxy statement/prospectus will be sent to the holders of common stock of Berry. Investors and stockholders of CRC and Berry are urged to read the proxy statement/prospectus and any other documents filed or to be filed with the SEC in connection with the transaction when they become available, as they will contain important information about CRC, Berry, the transaction and related matters. The registration statement and proxy statement/prospectus and other documents filed by CRC or Berry with the SEC, when filed, will be available free of charge at the SEC's website at https://www.sec.gov. Alternatively, investors and stockholders may obtain free copies of documents that are filed or will be filed with the SEC by CRC, including the registration statement and the proxy statement/prospectus, on CRC's website at https://www.crc.com/investor-relations, and may obtain free copies of documents that are filed or will be filed with the SEC by Berry, including the proxy statement/prospectus, on Berry's website at https://ir.bry.com/reports-resources. The information included on, or accessible through, CRC's or Berry's website is not incorporated by reference into this communication. No Offer or Solicitation This communication is not intended to and 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 appropriate registration or qualification under the securities laws of such jurisdiction. No offering 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. Participants in Solicitation CRC and certain of its directors, executive officers and other employees, and Berry and its directors and certain of Berry's executive officers and other employees, may be deemed to be participants in the solicitation of proxies from Berry's stockholders in connection with the transaction. A description of participants' direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus relating to the transaction when it is filed with the SEC. Information regarding CRC's directors and executive officers is contained in the "Board of Directors and Corporate Governance," "Compensation Discussion and Analysis," "Executive Compensation Tables," "Director Compensation," "Stock Ownership Information," and "Proposals Requiring Your Vote Proposal 1: Election of Directors" sections of CRC's definitive proxy statement for CRC's 2025 Annual Meeting of Stockholders, filed with the SEC on March 19, 2025; under the heading "Directors, Executive Officers and Corporate Governance" in Part III, Item 10 of CRC's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 3, 2025; in Item 5.07 of CRC's Current Report on Form 8-K filed with the SEC on May 6, 2025; in CRC's Current Reports on Form 8-K filed with the SEC on June 23, 2025 and November 25, 2024; and under "Our Team" accessed through the "Our Business" link on CRC's website at https://www.crc.com/our-business/our-team. Information regarding Berry's directors and executive officers is contained in the "Proposal No. 1Election of Directors," "Corporate Governance," "Executive Officers," "Executive Compensation Compensation Discussion and Analysis," "Director Compensation," "Security Ownership of Certain Beneficial Owners and Management," and "Certain Relationships and Related Party Transactions" sections of Berry's definitive proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on April 7, 2025; under the heading "Directors, Executive Officers and Corporate Governance" in Part III, Item 10 of Berry's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 13, 2025; in Item 5.07 of Berry's Current Report on Form 8-K filed with the SEC on May 22, 2025; in Berry's Current Reports on Form 8-K filed with the SEC on January 22, 2025 and October 25, 2024; and under "Leadership" accessed through the "About" link on Berry's website at https://bry.com/about/management/. Additional information regarding ownership of Berry's securities by its directors and executive officers and of CRC's securities by its directors and executive officers is included in such persons' SEC filings on Forms 3, 4 or 5, which are available at https://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001705873 and https://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001609253, respectively. These documents and the other SEC filings described in this paragraph may be obtained free of charge as described above under the heading "Additional Information and Where to Find It." Cautionary Note Regarding Forward-Looking Statements Information set forth in this communication, including financial estimates and statements as to the effects of the transaction, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other securities laws. All statements other than historical facts are forward-looking statements, and include statements regarding the benefits of the transaction, future financial position and operating results of CRC and Berry, business strategy, projected revenues, earnings, costs, capital expenditures and plans, objectives and intentions of management for the future. Words such as "expect," "could," "may," "anticipate," "intend," "plan," "ability," "believe," "seek," "see," "will," "would," "estimate," "forecast," "target," "guidance," "outlook," "opportunity" or "strategy" or similar expressions are generally intended to identify forward-looking statements. Such forward-looking statements are based upon the current beliefs and expectations of the management of CRC and Berry and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, projected in, or implied by, such statements. The expectations and forecasts reflected in these forward-looking statements are inherently subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond CRC's and Berry's control. No assurance can be given that such forward-looking statements will be correct or achieved or that the assumptions are accurate or will not change over time. Particular uncertainties that could cause CRC's and/or Berry's actual results to be materially different from those described in the forward-looking statements include: The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of CRC's registration statement on Form S-4 that will contain a proxy statement/prospectus discussed above, when it becomes available, and other documents filed by CRC or Berry from time to time with the SEC. You are cautioned not to place undue reliance on forward-looking statements contained in this communication, which speak only as of the date hereof, and each of CRC and Berry is under no obligation, and expressly disclaims any obligation to update, alter or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise. This communication may also contain information from third-party sources. This data may involve a number of assumptions and limitations, and neither CRC nor Berry has independently verified them and do not warrant the accuracy or completeness of such third-party information. Contacts: This press release was published by a CLEAR® Verified individual.
MPLX LP 2024 K-3 tax packages now available on company website
MPLX LP 2024 K-3 tax packages now available on company website FINDLAY, Ohio, Sept. 11, 2025 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced that the company's 2024 Schedule K-3 investor tax packages reflecting items of international tax relevance are now available on its website, https://www.mplx.com. Investors may select the Investor Data link under the Investors tab or use the following link: https://www.taxpackagesupport.com/mplxlp. A limited number of investors (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on the Schedule K-3 for their specific reporting requirements. To the extent the Schedule K-3 is applicable to unitholders' tax return filing needs, MPLX encourages them to review the information contained on the Schedule K-3 and refer to the appropriate federal laws and guidance or consult with their tax advisor. MPLX does not plan to mail K-3 tax packages to investors. For additional information or to receive an electronic copy of the Schedule K-3 via email, unitholders may call 1-800-232-0011 (toll free). About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com. Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President Finance and Investor RelationsBrian Worthington, Senior Director, Investor RelationsIsaac Feeney, Director, Investor RelationsEvan Heminger, Analyst, Investor Relations Media Contact: (419) 421-3577Jamal Kheiry, Communications Manager View original content:https://www.prnewswire.com/news-releases/mplx-lp-2024-k-3-tax-packages-now-available-on-company-website-302554424.html SOURCE MPLX LP
Parkland Corporation Announces the Mailing of a Letter of Transmittal in Connection with the Sunoco Arrangement
Parkland Corporation Announces the Mailing of a Letter of Transmittal in Connection with the Sunoco Arrangement CALGARY, AB, Sept. 11, 2025 /PRNewswire/ - Parkland Corporation ("Parkland", "we", or "our") (TSX: PKI) announced today that it has mailed a letter of transmittal and election form (the "Letter of Transmittal") to each registered holder of common shares of Parkland (the "Company Shares") in connection with the previously announced Sunoco Arrangement1. Parkland has also made a copy of the form of Letter of Transmittal available on www.parkland.ca and on its SEDAR+ profile at www.sedarplus.ca. The Letter of Transmittal outlines the necessary documentation and information required from each registered shareholder to obtain the consideration to which they are entitled under the Sunoco Arrangement and make an election with respect to the form of consideration they wish to receive, as further described below. Registered shareholders should refer to the instructions contained in the Letter of Transmittal to ensure they provide the required documentation and information to the depositary for the Sunoco Arrangement, Computershare Investor Services Inc., in order to validly deposit their Company Shares and elect the form of consideration they wish to receive. The Letter of Transmittal is for use by registered shareholders only. Beneficial (non-registered) shareholders whose Company Shares are registered in the name of an intermediary such as a broker, investment dealer, bank, trust company, trustee, nominee or other intermediary should not use the Letter of Transmittal but rather should contact their intermediary for instructions and assistance in depositing their Company Shares and electing the form of consideration they wish to receive. Every intermediary has its own procedures with respect to the election and may have an earlier election deadline. Pursuant to the Plan of Arrangement1, in exchange for each Company Share, Parkland shareholders can elect to receive one of the following three options: C$19.80 in cash and 0.295 common units of SunocoCorp1 ("SunocoCorp Units"), which will be listed on the NYSE upon the closing of the Sunoco Arrangement (the "Combination Elected Consideration"),C$44.00 in cash (the "Cash Elected Consideration"), orApproximately 0.536 SunocoCorp Units (the "Unit Elected Consideration").The Cash Elected Consideration and Unit Elected Consideration are subject to proration, maximum amounts and adjustments in accordance with the Plan of Arrangement. If a registered shareholder does not deposit a properly completed Letter of Transmittal prior to the deadline to make an election in respect of the consideration receivable in exchange for their Company Shares pursuant to the Sunoco Arrangement (the "Election Deadline"), or otherwise fails to comply with the requirements under the Plan of Arrangement and Letter of Transmittal with respect to such election and deposit of their Company Shares, such registered shareholder will be deemed to have elected to receive the Combination Elected Consideration. The Election Deadline has not been determined. Parkland will announce the Election Deadline prior to the closing date of the Sunoco Arrangement. About Parkland Corporation Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six countries across the Americas. Our retail network meets the fuel, and convenience needs of everyday consumers. Our commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting our customers' needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance. Forward-Looking Statements Certain statements contained herein constitute forward-looking information and statements (collectively, "forward looking statements"). When used in this news release, the words "expect", "may", "will", and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the determination and announcement of the Election Deadline and the closing of the Sunoco Arrangement. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to: general economic, regulatory, market and business conditions; the completion of the Sunoco Arrangement on anticipated terms and timing, or at all, including obtaining regulatory approvals and the satisfaction or waiver of other customary closing conditions; Parkland's ability to execute its business strategy; action by other persons or companies; the consideration to be received by Parkland shareholders is subject to proration, maximum amounts and adjustments, such that a Parkland shareholder may not receive all of the consideration in the form that they elect to receive; the anticipated effective date of the Sunoco Arrangement may be changed or delayed and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" in Parkland's current Annual Information Form dated March 5, 2025, under the headings "Forward-Looking Information" and "Risk Factors" in the Q2 Management's Discussion and Analysis dated August 5, 2025, and under the heading "Risk Factors" in Parkland's management information circular and proxy statement dated May 26, 2025, each as filed on SEDAR+ and available on Parkland's website at www.parkland.ca. The forward-looking statements contained herein are expressly qualified by this cautionary statement. 1 On May 5, 2025, Parkland announced that it entered into an arrangement agreement (as amended by an amending agreement dated May 26, 2025) with Sunoco LP (NYSE:SUN) ("Sunoco"), SunocoCorp LLC (formerly known as NuStar GP Holdings LLC) ("SunocoCorp"), and 2709716 Alberta Ltd. (the "Purchaser"), pursuant to which Sunoco, through the Purchaser, will acquire all of the issued and outstanding Company Shares by way of a court-approved plan of arrangement (the "Plan of Arrangement") under Section 193 of the Business Corporations Act (Alberta) in a cash and equity transaction. View original content to download multimedia:https://www.prnewswire.com/news-releases/parkland-corporation-announces-the-mailing-of-a-letter-of-transmittal-in-connection-with-the-sunoco-arrangement-302553826.html SOURCE Parkland Corporation
BMO Expands Canadian Depositary Receipt (CDR) Lineup into France, Launching Five New CDRs including LVMH, Herms and TotalEnergies
BMO Expands Canadian Depositary Receipt (CDR) Lineup into France, Launching Five New CDRs including LVMH, Hermès and TotalEnergies BMO's CDRs trade on a Canadian exchange in Canadian dollars and offer enhanced portfolio diversification opportunities for Canadian investors by enabling them to obtain exposure to shares of international companiesTORONTO, Sept. 11, 2025 /CNW/ - Bank of Montreal (BMO) announced five new CDRs will begin trading on the Cboe Canada exchange today. The initial offering of these new CDRs has closed. BMO's new CDRs will trade under the following tickers: Company Name and Type of Shares CDR Ticker Jurisdiction BNP Paribas SA Ordinary Shares BNP France Hermès International SCA Ordinary Shares HERM France L'Oréal SA Ordinary Shares LOR France LVMH Moët Hennessy Louis Vuitton SE Ordinary Shares LV France TotalEnergies SE Ordinary Shares TTE France For more information on BMO's CDRs, please visit www.bmocdrs.com. This material is for information purposes only. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. An investment in CDRs issued by BMO may not be suitable for all investors. Important information about these investment products is contained in the short form base shelf prospectus and prospectus supplement for each series of CDRs (together, the "Prospectus"). Purchasers are directed to www.sedarplus.ca or to www.bmogam.com to obtain copies of the Prospectus and related disclosure before purchasing CDRs of a particular series. The information contained herein is not a recommendation to purchase these investment products. Each series of CDRs relates to a single class of equity securities (the "Underlying Shares") of an issuer incorporated outside of Canada (the "Underlying Issuer"). For each series of CDRs, the Prospectus will provide additional information regarding such series, including information regarding the Underlying Issuer and Underlying Shares for such series. Neither BMO and its affiliates nor any other person involved in the distribution of CDRs accepts any responsibility for any disclosure provided by any Underlying Issuer (including information contained herein or in the Prospectus that has been extracted from any Underlying Issuer's publicly disseminated disclosure). Each series of CDRs is only offered to investors in Canada in accordance with applicable laws and regulatory requirements. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. About BMO Financial GroupBMO Financial Group is the seventh largest bank in0x202FNorth America0x202Fby assets, with total assets of0x202F$1.4 trillion0x202Fas of0x202FJuly 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across0x202FCanada,0x202Fthe United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good0x202Fin business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. SOURCE BMO Financial Group
Flex LNG - Presentation at the Pareto Securities Energy Conference
Flex LNG - Presentation at the Pareto Securities Energy Conference HAMILTON, Bermuda, Sept. 11, 2025 /PRNewswire/ -- CFO Knut Traaholt will be presenting Flex LNG today at the 32nd Energy Conference in Oslo, hosted by Pareto Securities. The presentation is attached hereto and is also available on our website, www.flexlng.com For further information, please contact: Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management ASTelephone: +47 23 11 40 00Email: ir@flexlng.com About FLEX LNG Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG carriers on the water and all of our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed on the New York Stock Exchange under the ticker FLNG. For more information, go to: www.flexlng.com This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was brought to you by Cision http://news.cision.com https://news.cision.com/flex-lng/r/flex-lng---presentation-at-the-pareto-securities-energy-conference,c4232853 The following files are available for download: https://mb.cision.com/Main/22886/4232853/3661506.pdf Flex LNG - Pareto Securities 32nd Energy Conference View original content:https://www.prnewswire.com/news-releases/flex-lng--presentation-at-the-pareto-securities-energy-conference-302553594.html SOURCE Flex LNG
TEN, Ltd. Reports Profits for the Second Quarter and First Half of 2025
TEN, Ltd. Reports Profits for the Second Quarter and First Half of 2025 $3.7 billion in minimum contracted revenue Dynamic renewal program 21 new buildings under construction, incl. 3 new South Korean VLCC orders TEN's fleet carrying capacity reaches 11 dwt $0.60 common stock dividend paid in July 2025 Tanker Market Fundamentals Remain Strong ATHENS, Greece, Sept. 10, 2025 (GLOBE NEWSWIRE) -- TEN, Ltd (TEN) (NYSE: TEN) (the "Company") today reported results (unaudited) for the six months and the second quarter ended June 30, 2025. FIRST HALF 2025 SUMMARY RESULTSTEN's fleet generated $390.4 million in gross revenues resulting to approx. $111.0 million in operating income, inclusive of $3.6 million of capital gains. Adjusted EBITDA for the first half of 2025 was $193.2 million. The net income for the first half of 2025 was $64.5 million or $1.70 per share. Fleet utilization increased to 96.9% in the first half of 2025 as a result of higher number of vessels under term contracts and fewer vessels in dry-dockings. The average Time Charter Equivalent (TCE) per vessel per day for the 2025 first half remained healthy at $30,754. Vessel operating expenses rose modestly and in line with expectations to $102.3 million, driven by a higher number of vessels and larger average vessel size. Total operating expenses per vessel per day were a competitive $9,743. The fleet's voyage expenses declined by $15.4 million and settled to $68.0 million. General and administrative expenses at $23.1 million reflected a management compensation and stock-incentive plan. Depreciation and amortization totaled $83.2 million, reflecting the addition of newer and larger vessel classes to the fleet. Interest and finance costs for the first half of 2025 were at $49.0 million. At the end of June 2025, TEN's cash position was $287.2 million. Q2 2025 SUMMARY RESULTSTEN's gross revenues reached $193.3 million in the second quarter of 2025. Adjusted EBITDA for the second quarter of 2025 was $93.9 million. Operating income, with no gains or losses from sale of vessels compared to capital gains of $32.5 million in the second quarter of 2024, settled at about $50.0 million which resulted in a second quarter 2025 net income of $26.8 million, or $0.67 per share. Average TCE per vessel per day in the second quarter of 2025 was $30,767. Fleet operating expenses at $52.7 million were just $3.0 million higher from the second quarter of 2024, primarily attributable to the larger average vessel size in the fleet, shuttle tanker vessels upgrades and well documented ongoing inflationary pressures. As a result, and due to efficient vessel management by TEN's technical managers, operating expenses per vessel per day were at $9,982 in the second quarter of 2025. Depreciation and amortization expenses during the second quarter of 2025 were in line with the increased number of vessels in the fleet at $42.1 million. SUBSEQUENT EVENTS TEN placed an order for three scrubber-fitted VLCCs with Hanwha Ocean in South Korea, with an option for a fourth, scheduled for delivery in 2027 and 2028. At the same time, the Company sold three older vessels, adding $60.0 million to cash reserves and a $9.0 million capital gain to be reported in the Company's third quarter 2025 financials. On August 14, 2025, TEN took delivery from Samsung Heavy Industries of South Korea of the DP2 suezmax shuttle tanker Paris 24 which entered a seven-year employment to an oil major. On October 1, 2025, TEN expects to take delivery, from HD Hyundai Ocean Services of South Korea, of the eco scrubber-fitted suezmax tanker Silia T which is scheduled to enter a minimum three-year employment to a US major oil concern. CORPORATE AFFAIRS - DIVIDENDIn July 2025, TEN distributed to common shareholders its semi-annual dividend of $0.60 per share and intends to announce the second semi-annual payment in November 2025. Since the Company's NYSE listing in 2002, TEN has consistently demonstrated its commitment to reward shareholders, having distributed over $900 million in common and preferred share dividends. CORPORATE STRATEGYThe first half of the year was affected by the imposition of steep global tariffs, creating turmoil that impacted investors' psychology and ultimately the valuation of tanker stocks. This reaction was excessive as tanker market fundamentals remained healthy, with both freight rates and asset values at firm levels. Rising global oil demand, low inventories, and the unwinding of OPEC+ voluntary production cuts further strengthened tanker market prospects, in conjunction with measured newbuilding activity. Meanwhile, geopolitical tensions continue to shape seaborne trade flows, effectively dividing the global tanker fleet between compliant and non-compliant tonnage and limiting the number of vessels available to service core markets. In addition, the renewed hostilities in the Middle East and the Red Sea are supporting long-haul voyages, further tightening vessel supply. Against this backdrop, TEN remains steadfast to its strategy to expand its fleet by divesting from its first-generation vessels and ordering new ones, the majority secured on attractive long-term contracts. This dynamic and responsible fleet growth focuses on specialized vessels with long-term employment. In addition, the recent VLCC order rebalances TEN's fleet in the larger crude carrier sector. The modernity and the earning capacity of the fleet remains a priority in management's approach. "With the fleet operating at near full capacity, with secured minimum forward earnings of US$3.7 billion, we remain confident that TEN provides the value both charterers and investors are looking for positioning themselves in the tanker space," Mr. George Saroglou, President & COO commented. TEN's CURRENT NEWBUILDING PROGRAM ABOUT TEN LTD. Founded in 1993 and celebrating 32 years as a public company, TEN is one of the first and most established public shipping companies in the world. TEN's diversified energy fleet currently consists of 82 vessels, including ten DP2 shuttle tankers, three VLCCs, one scrubber fitted suezmax vessel, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers totaling approx. 11 million dwt. FORWARD-LOOKING STATEMENTSExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Conference Call Details:As announced previously, today, Wednesday, September 10, 2025, at 10:00 a.m. Eastern Time, TEN will host a conference call to review the results as well as management's outlook for the business. The call, which will be hosted by TEN's senior management, may contain information beyond what is included in the earnings press release. Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 877-405-1226 (US Toll-Free Dial In) or +1 201- 689-7823 (US and Standard International Dial In). Please quote "Tsakos" to the operator and/or conference ID 13755603. Click here for additional participant International Toll Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option. Simultaneous Slides and Audio Webcast:There will also be a live, and then archived, webcast of the conference call and accompanying slides, available through the Company's website. To listen to the archived audio file, visit our website www.tenn.gr and click on Webcasts & Presentations under our Investor Relations page. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. For further information, please contact: Tsakos Energy Navigation Ltd.George SaroglouPresident & COO+30210 94 07 710gsaroglou@tenn.gr Investor Relations / MediaCapital Link, Inc.Nicolas Bornozis/ Markella Kara+212 661 7566ten@capitallink.com
NextNRG Reports Preliminary August 2025 Revenue Growth of 222% Year-Over-Year
NextNRG Reports Preliminary August 2025 Revenue Growth of 222% Year-Over-Year MIAMI, Sept. 10, 2025 (GLOBE NEWSWIRE) -- NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI-driven energy innovation transforming how energy is produced, managed, and delivered today announced preliminary unaudited financial results for August 2025. August 2025 Highlights: Revenue: $7.51 million, up 222% year-over-year from $2.33 million in August 2024Gallons Delivered: 2.18 million, up 239% year-over-year from 642,705 gallons in August 2024Year-to-date revenue through August reached approximately $51.6 million, already surpassing full-year 2024 revenue of ~$27 million by nearly double These results demonstrate the company's rapid scale-up, with year-to-date revenue already nearly doubling all of 2024. The surge in gallons delivered reflects stronger utilization from both new and existing customers, confirming NextNRG's ability to expand market share while sustaining operational growth. While August reflected a 9% sequential revenue decrease compared to July's record-setting $8.19 million, the company noted that July benefited from an extraordinary two-week surge in fuel deliveries tied to seasonal demand from its largest fleet customer during a nationwide mid-summer retail event. Excluding this standout period, August results demonstrate consistent performance at scale. "August reflects the strength and consistency of our growth, with revenue already nearly doubling last year's total in just eight months," said Michael D. Farkas, Executive Chairman and CEO of NextNRG. "While July benefited from an extraordinary fleet demand surge, our long-term trajectory remains clearscalable technology, expanding customer adoption, and a path to profitability. With Rencast in development and a strong project pipeline, we are confident in our momentum as we close out the third quarter and enter year-end." NextNRG's strong financial performance builds on recent strategic milestones, including: Development of RenCast NextNRG's upcoming AI-driven platform designed to enhance operational efficiency, predictive analytics, and customer engagement across its energy solutionsOngoing expansion of the Next Utility Operating System®, enabling AI-powered optimization across mobile fueling, distributed generation, and EV charging infrastructure With its combination of robust market demand, proprietary technologies, and targeted growth initiatives, NextNRG believes it remains on track to achieve its near-term profitability timeline. Note on Preliminary ResultsThe financial results for August 2025 are preliminary and unaudited. Final results may differ and will be confirmed upon the completion of standard month-end closing procedures. About NextNRG, Inc. NextNRG Inc. (NextNRG) is Powering What's Next by integrating artificial intelligence (AI) and machine learning (ML) into utility infrastructure, battery storage, wireless EV in-motion charging, renewable energy and mobile fuel delivery, to create a unified platform for modern energy management. At the core of its strategy is the Next Utility Operating System®, which uses AI to optimize both new and existing infrastructure across microgrids, utilities, and fleet operations. NextNRG's smart microgrids serve commercial, healthcare, educational, tribal, and government sites delivering cost savings, reliability, and decarbonization. The company also operates one of the nation's largest on-demand fueling fleets and is advancing wireless charging to support fleet electrification. To learn more, visit www.nextnrg.com. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. Investor Relations Contact NextNRG, Inc.Sharon CohenSCohen@nextnrg.com