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Noble Corporation plc announces changes to its share capital including share repurchases for the month of December 2023

Noble Corporation plc announces changes to its share capital including share repurchases for the month of December 2023 SUGAR LAND, Texas, Dec. 30, 2023 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE: NOBLE, NYSE: NE) today announces changes to its share capital. During the month of December, Noble has repurchased approximately USD 15 million of A ordinary shares under its previously announced share repurchase plan at a weighted average price of USD 45.03 per A ordinary share and a total of 329,069 repurchased A ordinary shares have been cancelled. During the period since November 30, 2023, 16,507 new A ordinary shares each with a nominal value of USD 0.00001 have been issued. 5,152 new A ordinary shares have been issued to certain holders of warrants as a consequence of the exercise of warrants. The exercise price was USD 19.27 per A ordinary share for 57 of the new A ordinary shares, USD 23.13 per A ordinary share for 2,418 of the new A ordinary shares and 2,677 A ordinary shares were issued as a result of a cashless exercise. The total proceeds to Noble from the warrant exercises amount to USD 57,026.73. Additionally, 11,355 new A ordinary shares have been issued to certain employees of Noble at no cost as a result of the vesting of restricted stock units. The new A ordinary shares carry the same rights as the existing A ordinary shares of Noble. The new A ordinary shares will be listed on the New York Stock Exchange as well as admitted to trading and official listing on Nasdaq Copenhagen. As a result of the changes, there are a total of 140,773,750 A ordinary shares of Noble issued and outstanding with a nominal value of USD 0.00001 each. Pursuant to section 32 of the Danish Capital Markets Act, Noble also hereby announces the total nominal value of its issued share capital and the total number of voting rights: Number of shares Number of voting rights Share capital A ordinary shares of USD 0.00001 140,773,750 140,773,750 USD 1,407.73750 Total 140,773,750 140,773,750 USD 1,407.73750 Exchange of shares tradable on Nasdaq Copenhagen for shares tradeable on the New York Stock Exchange Noble's shares are both listed on the New York Stock Exchange (identified by CUSIP G65431127) and admitted to trading and official listing on Nasdaq Copenhagen (in the form of share entitlements and identified by ISIN GB00BMXNWH07). Holders of Noble shares (in the form share entitlements) tradeable on Nasdaq Copenhagen can exchange their shares (in the form of share entitlements) for shares tradeable on the New York Stock Exchange after completing a transfer procedure. To transfer shares or share entitlements between markets, shareholders must instruct their financial intermediary (bank or broker) to contact Euronext (Noble's Danish transfer agent). For further information visit https://noblecorp.com/investors/stock-information/FAQ/default.aspx. While the shares listed on the New York Stock Exchange are denominated in USD and are eligible to receive dividends in USD and the share entitlements admitted to trading and official listing on Nasdaq Copenhagen are traded in DKK and are eligible to receive dividends in DKK, the shares and share entitlements are entitled to identical dividends and voting rights. https://noblecorp.com/investors/stock-information/FAQ/default.aspx About Noble Corporation Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. For further information visit www.noblecorp.com or email investors@noblecorp.com. IMPORTANT INFORMATION This announcement is for information purposes only and does not constitute or contain any invitation, solicitation, recommendation, offer or advice to any person to subscribe for or otherwise acquire or dispose of any securities of Noble. Certain statements in this announcement, including any attachments hereto, may constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Noble and its subsidiaries (collectively, the "Noble Group") anticipated or planned financial and operational performance. The words "targets", "believes", "continues", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "estimates", "projects", "potentially" or similar expressions or the negatives thereof, identify certain of these forward-looking statements. The absence of these words, however, does not mean that the statements are not forward-looking. Other forward-looking statements can be identified in the context in which the statements are made. Although Noble believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this announcement, such forward-looking statements are based on Noble's current expectations, estimates, forecasts, assumptions and projections about the Noble Group's business and the industry in which the Noble Group operates and/or which has been extracted from publications, reports and other documents prepared by the Noble Group and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other important factors beyond the Noble Group's control that could cause the Noble Group's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Any forward-looking statements included in this announcement, including any attachment hereto, speak only as of today. Noble does not intend, and does not assume, any obligations to update any forward-looking statements contained herein, except as may be required by law or the rules of the New York Stock Exchange or Nasdaq Copenhagen. All subsequent written and oral forward-looking statements attributable to Noble or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained in this announcement, including any attachment hereto. View original content:https://www.prnewswire.com/news-releases/noble-corporation-plc-announces-changes-to-its-share-capital-including-share-repurchases-for-the-month-of-december-2023-302024084.html SOURCE Noble Corporation plc

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Helix Announces Its 6.75% Convertible Senior Notes Due 2026 Will Remain Convertible

Helix Announces Its 6.75% Convertible Senior Notes Due 2026 Will Remain Convertible HOUSTON, Dec. 29 /BusinessWire/ -- Helix Energy Solutions Group, Inc. (NYSE:HLX) announced today that its 6.75% Convertible Senior Notes due 2026 (the "Notes") will remain convertible at the option of the holders from January 1, 2024 through March 31, 2024, as provided in the indenture governing the Notes (as supplemented, the "Indenture"). This press release is made pursuant to a provision in the Indenture that requires publication of this notice of convertibility. As of January 1, 2024 the Notes will be convertible and will remain convertible through March 31, 2024, as a result of the Closing Sale Price of Helix's Common Stock being more than the Conversion Trigger Price in effect on each applicable Trading Day during at least 20 of the last 30 consecutive Trading Days of the calendar quarter ending December 31, 2023. To convert interests in a Global Note held through the Depository Trust Company ("DTC"), a holder must deliver to DTC the appropriate instruction form for conversion pursuant to DTC's conversion program and pay the amount of interest and tax or duty, if required. To convert a Certificated Note, a holder must (a) complete and manually sign the Conversion Notice, as set forth in the Note, with appropriate signature guarantee, or facsimile of the Conversion Notice and deliver the completed Conversion Notice to The Bank of New York Mellon Trust Company, N.A., the trustee, as conversion agent (the "Conversion Agent"), (b) surrender the Note to the Conversion Agent, (c) furnish appropriate endorsements and transfer documents, if required by the Registrar or Conversion Agent, (d) pay the amount of interest, if required and (e) pay any tax or duty, if required. Upon surrendering Notes for conversion in accordance with the Indenture, a holder of the Notes will receive through the Conversion Agent either shares of Common Stock, cash or a combination of cash and shares of Common Stock, at Helix's election. Holders of the Notes may obtain further information on how to convert their Notes by contacting the Conversion Agent at: The Bank of New York Mellon Trust Company, N.A., 2001 Bryan Street, 10th Floor, Dallas, TX 75201, Attention: Corporate Trust Reorg. or email inquiries to CT_Reorg_Unit_Inquiries@bnymellon.com. Capitalized terms used in this press release and not otherwise defined herein have the meanings given to them in the Indenture. About Helix Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and full field decommissioning operations. Our services are centered on a three-legged business model well positioned for a global energy transition by maximizing production of remaining oil and gas reserves, supporting renewable energy developments and decommissioning end-of-life oil and gas fields. For more information about Helix, please visit our website at www.helixesg.com. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding settlement of the Notes, conversion consideration and any impact on our financial and operating results and estimates. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to market conditions and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20231229204983/en/   back

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Helmerich & Payne, Inc. To Participate in Conferences in January 2024

Helmerich & Payne, Inc. To Participate in Conferences in January 2024 TULSA, Okla., Dec. 29 /BusinessWire/ -- Helmerich & Payne, Inc. (NYSE:HP) today announced that Mark Smith, Senior Vice President and Chief Financial Officer; Mike Lennox, Senior Vice President of U.S. Land Operations; and Dave Wilson, Vice President of Investor Relations plan to participate in the following investor conferences during the month of January 2024. Participation by the management team will vary by event. Goldman Sachs Energy, CleanTech & Utilities Conference 2024 on Thursday and Friday, January 4-5, 2024; Mr. Smith will participate in a panel discussion on behalf of the Company on Friday, January 5, 2024 at 11:20 a.m. U.S. ET. The ATB 12th Annual Institutional Investor Conference on Wednesday, January 10, 2024; Mr. Smith will participate in a panel discussion on behalf of the Company on Wednesday, January 10, 2024 at 10:00 a.m. U.S. ET. Investor slides to be used during the conferences will be available for download on the company's website, within Investors, under Presentations, the afternoon of January 3, 2024. About Helmerich & Payne, Inc. Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com. Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231229154061/en/   back

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SM ENERGY DECLARES QUARTERLY CASH DIVIDEND

SM ENERGY DECLARES QUARTERLY CASH DIVIDEND DENVER, Dec. 28, 2023 /PRNewswire/ -- SM Energy Company (NYSE: SM) today announces that its Board of Directors approved the increased quarterly cash dividend of $0.18 per share of common stock outstanding. The dividend will be paid on February 5, 2024, to stockholders of record as of the close of business on January 19, 2024. ABOUT THE COMPANY SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in the state of Texas. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com. SM ENERGY INVESTOR CONTACTS Jennifer Martin Samuels, jsamuels@sm-energy.com, 303-864-2507 View original content to download multimedia:https://www.prnewswire.com/news-releases/sm-energy-declares-quarterly-cash-dividend-302021300.html SOURCE SM Energy Company

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Ring Energy Announces Issuance of 2023 Sustainability Report

Ring Energy Announces Issuance of 2023 Sustainability Report THE WOODLANDS, Texas, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) ("Ring" or the "Company") today announced that it has issued its 2023 Sustainability Report (the "2023 Report"), which is available on the Company's website at www.ringenergy.com under the "Sustainability" tab. The report provides updated and comprehensive information about Ring's Environmental, Social and Governance ("ESG") initiatives and related key performance indicators. In the creation of the document, the Company primarily consulted the Sustainability Accounting Standards Board's ("SASB") Oil and Gas Exploration and Production Sustainability Accounting Standard and the Global Sustainability Standards Board's Global Reporting Initiative ("GRI") and associated Oil & Gas Sector Standards. In addition, the Company considered the recommendations of the Task Force on Climate-related Financial Disclosures ("TCFD"), the Sustainable Development Goals ("SDGs") promulgated by the United Nations, and guidance from other industry frameworks and the various ESG ratings agencies, as appropriate. During 2022 and into 2023, the Company has executed a number of its targeted ESG initiatives, and these projects are discussed in the 2023 Report. This includes the Company's: Thorough review and related capital investment in industry-leading technologies designed to reduce emissions across its operations;Continued and important progress on its targeted TARGET ZERO-365 program focused on health, safety and environmental excellence;Pro-active outreach to the Company's top shareholders concerning say-on-pay and other governance matters, as well as other ESG topics that were of interest to investors; The Company appreciated the feedback and incorporated recommendations in the development of the 2023 Report; Introduction of reporting Greenhouse Gas ("GHG") emissions intensity metrics; andExpanded the Company's ESG reporting frameworks to now include GRI's global and oil and gas sector standards. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, "We are pleased to release our 2023 Sustainability Report, which provides an update on our ESG performance and continued efforts to enhance the long-term sustainability of our business. During 2022 and 2023, we continued to make substantial progress planning and executing our sustainability initiatives. This includes significant capital investment in further enhancement of our GHG and other air emissions reduction efforts and the continued advancement of our TARGET ZERO-365 program focused on building an HSE culture that empowers employees and contractors to naturally achieve an incident free environment. In addition, we expanded our disclosure of important ESG metrics and relevant reporting frameworks." Mr. McKinney continued, "Further enhancing our long-term sustainability from the release of our last sustainability report, we followed the transformative acquisition of Stronghold Energy's assets in 2022 by further consolidating our core position in the Central Basin Platform – or CBP – via the immediately accretive acquisition of the assets of privately held Founders Oil & Gas IV, LLC ("Founders"), which closed in August 2023. The acquired Founders operations in the CBP are located in Ector County, Texas – near our existing CBP operations – and focused on the development of approximately 3,600 net leasehold acres that are 100% operated with an average 99% working interest, and 100% held by production. During the third quarter of 2023, these two acquisitions helped Ring to generate record financial performance. We continue to believe a financially sustainable company depends on having a corporate culture that strives for continuous improvement in environmental, operational and safety performance, and governance-related matters. We are confident our 2023 Report showcases our progress on these important fronts." About Ring Energy, Inc. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com. Safe Harbor Statement This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company's strategy and prospects. The forward-looking statements include statements about the expected future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the Company; plans and objectives of management for future operations; and the Company's goals and expectations regarding emissions, safety performance and other ESG matters. Forward-looking statements are based on current expectations and assumptions and analyses made by Ring and its management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: declines in oil, natural gas liquids or natural gas prices; the level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities; the timing of exploration and development expenditures; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; impacts to financial statements as a result of impairment write-downs; risks related to level of indebtedness and periodic redeterminations of the borrowing base and interest rates under the Company's credit facility; Ring's ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; the impacts of hedging on results of operations; and Ring's ability to replace oil and natural gas reserves. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the Securities and Exchange Commission ("SEC"), including its Form 10-K for the fiscal year ended December 31, 2022, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements except as required by law. Contact Information Al Petrie Advisors Al Petrie, Senior Partner Phone: 281-975-2146 Email: apetrie@ringenergy.com

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ProFrac Holding Corp. Completes Refinancing of Senior Secured Term Loan and Enhances Financial Flexibility

ProFrac Holding Corp. Completes Refinancing of Senior Secured Term Loan and Enhances Financial Flexibility WILLOW PARK, Texas, Dec. 27, 2023 /PRNewswire/ -- ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac", or the "Company") today announced that, on December 27, 2023, it completed the refinancing of its existing Senior Secured Term Loan and other debt with two new financings totaling $885 million, which will both mature in 2029. As a result of these transactions, ProFrac is well positioned to deliver exceptional service to its customers and poised to maintain its position as a leader in the oilfield services industry in anticipation of a strong 2024. Highlights Refinances the existing Term Loan due March 2025 with a term loan credit facility and senior secured notes with maturities in January 2029Cash neutral transaction that also positions the Company to maintain liquidity to fund working capital for expected increased activity in 2024Provides a bifurcated capital structure to allow for future optionality designed to realize the full value potential of the proppant segmentEliminates any material near-term maturities and provides additional runway to de-leverEnables ProFrac to focus on the 2024 strategy where it plans to increase utilization of its proppant and stimulation assets through a more diversified commercial approachFirst Financial Term Loan and REV Seller Note fully repaid as part of the transactionABL Credit Facility amended to lower the line's capacity to $325 million from $400 millionMatt Wilks, ProFrac's Executive Chairman, stated, "We are pleased to announce this successful refinancing, which not only extends our near-term debt maturities into 2029, but it also provides us with the financial flexibility to opportunistically take advantage of the anticipated ramp in activity levels in the coming year. This transaction demonstrates our ability to finance the Company's capital structure and liquidity position in an improving market. "This is an important and necessary step for ProFrac as we execute the improvements made to the business and demonstrate the cash generation potential in 2024. This is also the next step in the process to build a strong foundation in our proppant segment and maximize shareholder value of that segment." Transaction Overview The refinancing transactions include a $365 million Alpine Term Loan and $520 million in Services Senior Secured Notes. These proceeds were used to pay off ProFrac's existing Senior Secured Term Loan, First Financial Term Loan and REV Seller Note as well as for certain fees and expenses. This refinancing transaction provides the Company with a more stable financial platform, a strengthened balance sheet, a bifurcated capital structure and ample liquidity from which it will continue executing various growth-related and value realization opportunities. Additional details on these debt arrangements are as follows: Alpine Term Loan These loans were made to ProFrac's family of wholly owned subsidiaries that hold and run ProFrac's proppant business, including Alpine Holding II, LLC ("Alpine Holding") and PF Proppant Holding, LLC ("PFP Holding") among others Lenders made certain term loans to PFP Holding in the aggregate principal amount of $365.0 millionGuaranteed by ProFrac pursuant to the Unsecured ProFrac Guarantee Agreement and are guaranteed by Alpine Holding, PFP Holding and the Subsidiary Guarantors pursuant to the Alpine Guarantee AgreementObligations under the Alpine Term Loan are secured by a lien on and security interest in substantially all of the assets of Alpine Holding, PFP Holding and the Subsidiary Guarantors, which holds ProFrac's Proppant businessThe Alpine Term Loan bears a floating interest rate at the borrower's option of either a Base Rate or SOFR Rate plus an applicable marginBase Rate Loans bear interest at a fluctuating per annum rate equal to the base rate plus a margin of 7.25% per annum subject to both a floor and maximum rateSOFR Rate Loans bear interest at a fluctuating per annum rate equal to the adjusted term SOFR for a one-month interest period plus a margin of 7.25% per annum subject to both a floor and maximum rateMandatory principal payments commence at the end of the calendar quarters ending June 30, 2024, September 30, 2024 and December 31, 2024, in an amount equal to $5 million on each such date followed by quarterly payments of $15 millionThe stated maturity date for the Alpine Term Loans is the earlier of January 26, 2029 or the date it becomes due and payableServices Senior Secured Floating Rate Notes due 2029 ProFrac Holdings II, a wholly-owned subsidiary of ProFrac, issued and sold $520.0 million aggregate principal amount of its Senior Secured Floating Rate Notes due 2029 in a private placement to institutional investorsThe Secured Notes bear interest at a fluctuating per annum rate equal to adjusted term SOFR plus the Applicable Margin (as defined in the Indenture) payable quarterly beginning on March 31, 2024Obligations under the Secured Notes are secured by ProFrac Holdings II, which holds ProFrac's Services businessMandatory prepayments of $10.0 million on each of June 30, 2024, September 30, 2024 and December 31, 2024, and $15.0 million at the end of each calendar quarter thereafterOn and after January 15, 2025, ProFrac Holdings II may redeem all or a part of the Secured Notes at certain redemption prices outlined in the associated 8-K to this transactionSeventh Amendment to the ABL Credit Facility Maximum Revolver Amount is decreased ratably among the Lenders from $400.0 million to $325.0 millionAlpine Holding and its Subsidiaries are designated as Excluded Subsidiaries and Unrestricted Subsidiaries (each as defined therein)Liens held by the lenders on the assets of the Alpine Excluded Subsidiaries, and all guarantees of the obligations under ABL Credit Facility made by the Alpine Excluded Subsidiaries, are released, terminated and dischargedThe ABL Credit Facility has a maturity date of the earlier of March 4, 2027 and 91 days prior to the maturity of any material indebtednessAdvisors Piper Sandler & Co acted as the sole financial advisor, and Gibson, Dunn & Crutcher LLP and Brown Rudnick LLP acted as legal counsel to ProFrac in connection with the refinancing. About ProFrac Holding Corp. ProFrac Holding Corp. is a technology-focused, vertically integrated, innovation-driven energy services holding company providing hydraulic fracturing, proppant production, other completion services and other complementary products and services to leading upstream oil and natural gas companies engaged in the exploration and production ("E&P") of North American unconventional oil and natural gas resources throughout the United States. Founded in 2016, ProFrac was built to be the go-to service provider for E&P companies' most demanding hydraulic fracturing needs. ProFrac is focused on employing new technologies to significantly reduce "greenhouse gas" emissions and increase efficiency in what has historically been an emissions-intensive component of the unconventional E&P development process. ProFrac Corp. operates in three business segments: stimulation services, proppant production and manufacturing. For more information, please visit the ProFrac's website at www.pfholdingscorp.com. Information on ProFrac's website is not part of this release. Forward-Looking Statements Certain statements in this press release are, or may be considered, "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "expect," "will," "estimate," "believe," "work to," or similar words and expressions and uses of future or conditional verbs, generally identify forward-looking statements. The Company cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to: the risks that anticipated ramp in activity levels will not materialize; the ability to achieve the anticipated benefits of the Company's bifurcated capital structure and utilization of its proppant and stimulation assets, mining operations, and vertical integration strategy, including risks and costs relating to integrating acquired assets and personnel; risks that the Company's actions intended to achieve its financial stability and any desired de-levering or published financial and operational guidance will be insufficient to achieve that guidance, either alone or in combination with external market, industry or other factors; the failure to operationalize or utilize to the extent anticipated the Company's fleets and sand mines in a timely manner or at all; the Company's ability to deploy capital in a manner that furthers the Company's growth strategy, as well as the Company's general ability to execute its business plans and maintains its position as a leader in the oilfield services industry; the risk that the Company may need more capital than it currently projects or that capital expenditures could increase beyond current expectations; risks of any increases in interest rates; industry conditions, including fluctuations in supply, demand and prices for the Company's products and services; global and regional economic and financial conditions; the effectiveness of the Company's risk management strategies; the transition to becoming a public company; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's filings with the Securities and Exchange Commission ("SEC"), which are available on the SEC's website at www.sec.gov. The Company undertakes no obligation, and specifically disclaims, any obligation to update or revise forward-looking statements as a result of subsequent events or developments, except as required by law. Contacts: ProFrac Holding Corp Lance Turner - Chief Financial Officer investors@profrac.com Dennard Lascar Investor Relations Ken Dennard / Rick Black ACDC@dennardlascar.com View original content:https://www.prnewswire.com/news-releases/profrac-holding-corp-completes-refinancing-of-senior-secured-term-loan-and-enhances-financial-flexibility-302022975.html SOURCE ProFrac Holding Corp.

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Murphy Oil Corporation Schedules Fourth Quarter 2023 Earnings Release and Conference Call

Murphy Oil Corporation Schedules Fourth Quarter 2023 Earnings Release and Conference Call HOUSTON, Dec. 27 /BusinessWire/ -- Murphy Oil Corporation (NYSE:MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Standard Time (EST) on Thursday, January 25, 2024 to discuss fourth quarter 2023 earnings. The company plans to release its financial and operating results before the market opens that morning. A webcast link and related presentation material will be included on the Investors page of the company's website at http://ir.murphyoilcorp.com. Date: Thursday, January 25, 2024 Time: 9:00 a.m. EST Toll Free Dial-in: 888-886-7786 Conference ID: 98175352 ABOUT MURPHY OIL CORPORATION As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company's website at www.murphyoilcorp.com. FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as "aim", "anticipate", "believe", "drive", "estimate", "expect", "expressed confidence", "forecast", "future", "goal", "guidance", "intend", "may", "objective", "outlook", "plan", "position", "potential", "project", "seek", "should", "strategy", "target", "will" or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets, banking system or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see "Risk Factors" in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at http://ir.murphyoilcorp.com. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this report. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20231227653136/en/   back

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Par Pacific Management to Participate in Investor Conferences

Par Pacific Management to Participate in Investor Conferences HOUSTON, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) ("Par Pacific") today announced that members of its management team will participate in the following investor conferences. 2024 Sankey Research Refining Conference on January 3, 2024 in Miami, FloridaGoldman Sachs Energy, CleanTech & Utilities Conference on January 4-5, 2024 in Miami, FloridaUBS Global Energy & Utilities Winter Conference on January 9, 2024 in Park City, Utah The most current investor presentation is available on the Investors section of Par Pacific's website at www.parpacific.com. About Par Pacific Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. In the Pacific Northwest and the Rockies, Par Pacific owns and operates 124,000 bpd of combined refining capacity across three locations and an extensive energy infrastructure network, including 7.6 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the "nomnom" convenience store chain and supplies ExxonMobil-branded fuel retail stations in the region. Par Pacific owns and operates one of the largest energy infrastructure networks in Hawaii with 94,000 bpd of operating refining capacity, a logistics system supplying the major islands of the state and Hele-branded retail locations. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com. For more information contact:Ashimi PatelDirector, Investor Relations and Renewables(832) 916-3355apatel@parpacific.com

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SLB Announces Fourth-Quarter and Full-Year 2023 Results Conference Call

SLB Announces Fourth-Quarter and Full-Year 2023 Results Conference Call HOUSTON, Dec. 26 /BusinessWire/ -- SLB (NYSE:SLB) will hold a conference call on January 19, 2024 to discuss the results for the fourth quarter and full year ending December 31, 2023. The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313. A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until February 19, 2024, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America and giving the access code 8122009. About SLB SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231226359572/en/   back

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Craig Morford to Retire as Vice President, General Counsel and Secretary; Jeff Taylor Elected as Vice President, General Counsel and Secretary

Craig Morford to Retire as Vice President, General Counsel and Secretary; Jeff Taylor Elected as Vice President, General Counsel and Secretary SPRING, Texas, Jun. 12 /BusinessWire/ -- Craig Morford, Vice President, General Counsel and Secretary for Exxon Mobil Corporation (NYSE:XOM), has announced his retirement effective July 1, 2024. The Board of Directors has elected Jeff Taylor as Vice President, General Counsel and Secretary for the company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611622593/en/Craig Morford, Vice President, General Counsel and Secretary for Exxon Mobil Corporation (Photo: Business Wire) "Craig has been a valued member of our Corporate Leadership Team during his time as General Counsel providing his strong legal experience and counsel to advance our strategic priorities," said Darren Woods, Chief Executive Officer and Chairman of Exxon Mobil Corporation. "He leaves our company well-positioned for the future, and we thank him for his contributions to ExxonMobil." "We also welcome Jeff to ExxonMobil. He brings the right blend of corporate governance and legal expertise, and I look forward to working with him." Morford joined ExxonMobil in 2019 as deputy general counsel after previous roles with the United States Department of Justice and in private industry. For more than 20 years, Morford advanced through the Department of Justice with assignments as U.S. Attorney in Michigan and Tennessee, and first assistant U.S. attorney in Ohio. In 2007, he was appointed as Acting Deputy Attorney General by President George W. Bush. From 2008 until joining ExxonMobil, Morford served as the Chief Legal and Compliance Officer for Cardinal Health, a multinational health care services company. Taylor joined ExxonMobil in May 2024 from Fox Corporation, where he was Executive Vice President and General Counsel. Before joining Fox, Taylor served as Deputy General Counsel and Chief Compliance Officer for General Motors Co., and as the General Counsel of Raytheon Integrated Defense Systems. He served more than 15 years in the federal government, including as the United States Attorney for the District of Columbia from 2006 to 2009, Counselor to the Attorney General, Counsel to the United States Senate Committee on the Judiciary, and Assistant United States Attorney for the Southern District of California. Taylor received his Bachelor's degree in History from Stanford University and earned his J.D. from Harvard Law School. About ExxonMobil ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society's evolving needs. The corporation's primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity. With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com and ExxonMobil's Advancing Climate Solutions. Follow us on LinkedIn, Instagram and X. View source version on businesswire.com: https://www.businesswire.com/news/home/20240611622593/en/   back

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Matador Resources Company Announces Strategic Bolt-On Delaware Basin Acquisition

Matador Resources Company Announces Strategic Bolt-On Delaware Basin Acquisition DALLAS, Jun. 12 /BusinessWire/ -- Matador Resources Company (NYSE:MTDR) ("Matador" or the "Company") today announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire a subsidiary of Ameredev II Parent, LLC ("Ameredev"), including certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Loving and Winkler Counties, Texas (the "Ameredev Acquisition"). The Ameredev Acquisition also includes an approximate 19% stake in Piñon Midstream, LLC ("Piñon"), which has midstream assets in southern Lea County, New Mexico. The consideration for the Ameredev Acquisition will consist of a cash payment of $1.905 billion, subject to customary closing adjustments. Ameredev is a portfolio company of EnCap Investments L.P. ("EnCap"). The Ameredev Acquisition is subject to customary closing conditions and is expected to close late in the third quarter of 2024 with an effective date of June 1, 2024. A short slide presentation summarizing the Ameredev Acquisition is also included on the Company's website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. Matador's management will host a live conference call to discuss the Ameredev Acquisition on Wednesday, June 12, 2024 at 10:00 am Central Time. Further details are provided at the end of this press release. Joseph Wm. Foran, Matador's Founder, Chairman and CEO, commented, "Matador is very excited to work with EnCap again on this strategic bolt-on opportunity (see Exhibit A). As with the successful Advance Energy deal we completed in April of 2023, we view the Ameredev transaction as another unique opportunity to work with EnCap and another value-creating opportunity for Matador and its shareholders. We evaluated this opportunity based on the high rock quality, the strong existing production and cash flow profile, the significant reserves additions, the high-quality inventory, the strategic fit within our existing portfolio of properties and the expansion of our midstream footprint with an ownership interest in Piñon. The equity and debt securities offerings and the revolving credit facility amendment we completed earlier this year, together with our historical balance sheet conservatism, have provided Matador with the opportunity to acquire these high-quality assets and continue Matador's consistent history of profitable growth at a measured pace." Transaction Highlights On a pro forma basis following closing of the acquisition, Matador expects to have over 190,000 net acres in the Delaware Basin, approximately 2,000 net locations, production of over 180,000 barrels of oil and natural gas equivalent ("BOE") per day, proved oil and natural gas reserves of over 580 million BOE and an enterprise value in excess of $10 billion (see Exhibit B) Expected to generate forward one-year Adjusted EBITDA1 of approximately $425 to $475 million at strip prices as of late May 2024, which represents an attractive purchase price multiple of 4.2x for the upstream assets: Strip prices for the remainder of 2024 averaged $77 per barrel of oil and $2.76 per MMBtu of natural gas. Accretive to relevant key financial and valuation metrics Significant increase in high quality pro forma drilling locations in primary development zones (see Exhibit C) PV-10 (present value discounted at 10%)2 at May 31, 2024 of $1.46 billion on total proved oil and natural gas reserves utilizing strip pricing as of late May 2024. The PV-10 of $1.46 billion does not include the interest in Piñon or certain undeveloped but prospective locations included in Matador's valuation of the Ameredev assets: PV-10 of proved developed (PD) oil and natural gas reserves at May 31, 2024 of $1.20 billion, or approximately $47,100 per flowing BOE, utilizing strip pricing as of late May 2024. Preserves Matador's strong balance sheet with pro forma leverage expected to be approximately 1.3x at closing and back below 1.0x by the middle of 2025 based upon current commodity prices, allowing Matador to maintain operational and financial flexibility while continuing to return value to shareholders through its fixed quarterly dividend and protecting cash flows through its appropriate commodity hedges Expanding Matador's midstream footprint with an approximate 19% stake in Piñon, which allows for increased coordination between Matador and Piñon in gathering, transporting and treating natural gas from the Ameredev properties Ameredev Asset Highlights Estimated production in the third quarter of 2024 of 25,000 to 26,000 BOE per day (65% oil) Approximately 33,500 highly contiguous net acres (82% held by production; over 99% operated) in the northern Delaware Basin, most of which is located in Matador's Antelope Ridge asset area in southern Lea County, New Mexico and Matador's West Texas asset area in Loving and Winkler Counties, Texas (see Exhibit A again) Adds 431 gross (371 net) operated locations (86% working interest) identified for future drilling, including prospective targets throughout the Wolfcamp and Bone Spring formations Locations are consistent with Matador's methodology for estimating inventory with typically three to four (or fewer) locations per section, or the equivalent of 160-acre (or greater) spacing, in all prospective completion intervals Prior to transaction closing, Matador expects Ameredev to operate one drilling rig and to continue operations on 13 drilled but uncompleted (DUC) wells with one completion crew: The prospectivity of the Ameredev acreage immediately competes for development capital with Matador's existing acreage (see Exhibit C again), so Matador expects to continue operating a total of nine drilling rigs for the immediate future on the combined approximately 192,000 net acres of the Matador-Ameredev properties. The additional ninth drilling rig and the associated Ameredev activities are not expected to increase the range of Matador's estimated drilling, completing and equipping ("D/C/E") capital expenditures of $1.10 to $1.30 billion for 2024. More information regarding the capital expenditures associated with the Ameredev Acquisition and its impact on Matador's guidance for 2024 will be included in Matador's press release announcing its second quarter 2024 results, which is expected to be issued in late July 2024. Matador estimates total proved oil and natural gas reserves associated with the Ameredev properties of 118 million BOE (60% oil) at May 31, 2024. The pro forma combined company is estimated to have 578 million BOE, a 26% increase from Matador's total proved reserves at December 31, 2023 of 460 million BOE (see Exhibit D). PV-10 of the proved oil and natural gas reserves of the Ameredev properties at May 31, 2024 was approximately $1.66 billion using the same unweighted arithmetic average first-day-of-the-month price methodology for the previous 12-month period being used to value the Company's reserves, which are $74.91 per barrel of oil and $2.35 per MMBtu of natural gas. The PV-10 of $1.66 billion does not include the interest in Piñon or certain undeveloped but prospective locations included in Matador's valuation of the Ameredev assets. Matador expects to add future proved reserves and reserves value as a result of the development of the Ameredev properties going forward. These reserves estimates were prepared by Matador's engineering staff and audited by Netherland, Sewell & Associates, Inc., independent reservoir engineers, as of May 31, 2024. Mr. Foran further commented, "We took significant strides during and shortly after the first quarter of 2024 to strengthen our balance sheet and allow us to participate in another special opportunity like this one. The specific location and quality of the Ameredev assets, the strong existing cash flow, the multi-pay potential and the cost savings associated with developing these assets via longer laterals on multi-well pads on blocky acreage were key features that attracted us to this unique opportunity and significantly enhance our already strong Delaware Basin portfolio and prospect inventory. This acquisition also positions Matador for continued success and growth throughout 2024, 2025 and into the future as one of the top ten producers in the Delaware Basin (see Exhibit E). "To assist in financing this all-cash transaction, Matador has received firm commitments from PNC Bank, the lead bank under our reserves-based credit facility, to provide at closing (i) a 50% increase in the elected commitment under our credit facility from $1.5 billion to $2.25 billion and (ii) a $250 million Term Loan A under our credit facility to provide additional liquidity following the closing of the transaction. Importantly, this acquisition should not significantly impact Matador's leverage profile in the long-term, as we expect our pro forma leverage ratio to return to a ratio below 1.0x by the middle of 2025 based upon current commodity prices. We especially appreciate PNC Bank for their leadership and support in arranging this financing commitment and the confidence and support we have received from the other members of our bank group. "This transaction marks the second significant deal Matador has done with EnCap in the last 18 months. Gary Petersen, one of EnCap's Founders, and I have known each other for many years. Similar to the Advance Energy transaction we closed in April of 2023, the long relationship with Gary and EnCap was critical to the smooth negotiation of this transaction. Thank you to Gary, the other senior members of the EnCap team, Parker Reese and the rest of the Ameredev team and the Matador team for their hard work and integrity in efficiently reaching a deal that we believe is a positive development for all parties. We also appreciate the support of our other friends, shareholders, bankers and vendors in making this deal happen. We look forward to the additional commercial opportunities and free cash flow that this new acreage and production will provide for Matador." Conference Call Information Management will host a live conference call to discuss the Ameredev Acquisition on Wednesday, June 12, 2024 at 10:00 am Central Time. To access the live conference call by phone, you can use the following link https://register.vevent.com/register/BI43dafc62d9a54c13a8b9fab5e226a923 and you will be provided with dial-in details after registering. To avoid delays, it is recommended that participants dial into the conference call at least 15 minutes ahead of the scheduled start time. The live conference call will also be available through the Company's website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company's website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab for one year following the date of the conference call. Advisors Baker Botts LLP served as legal advisor to Matador for the transaction. Vinson & Elkins LLP served as legal advisor and JP Morgan served as financial advisor to Ameredev and EnCap. About Matador Resources Company Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, oil, natural gas and produced water gathering services and produced water disposal services to third parties. For more information, visit Matador Resources Company at www.matadorresources.com. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. "Forward-looking statements" are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "could," "believe," "would," "anticipate," "intend," "estimate," "expect," "may," "should," "continue," "plan," "predict," "potential," "project," "hypothetical," "forecasted" and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about the consummation and timing of the Ameredev Acquisition, the anticipated benefits, opportunities and results with respect to the acquisition, including the expected value creation, reserves additions, midstream opportunities and other anticipated impacts from the Ameredev Acquisition, as well as other aspects of the transaction, guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the ability of the parties to consummate the Ameredev Acquisition in the anticipated timeframe or at all; risks related to the satisfaction or waiver of the conditions to closing the Ameredev Acquisition in the anticipated timeframe or at all; risks related to obtaining the requisite regulatory approvals; disruption from the Ameredev Acquisition making it more difficult to maintain business and operational relationships; significant transaction costs associated with the Ameredev Acquisition; the risk of litigation and/or regulatory actions related to the Ameredev Acquisition, as well as the following risks related to financial and operational performance: general economic conditions; the Company's ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; the operating results of the Company's midstream oil, natural gas and water gathering and transportation systems, pipelines and facilities, the acquiring of third-party business and the drilling of any additional salt water disposal wells; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; impact on the Company's operations due to seismic events; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; disruption from the Company's acquisitions making it more difficult to maintain business and operational relationships; significant transaction costs associated with the Company's acquisitions; the risk of litigation and/or regulatory actions related to the Company's acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, available borrowing capacity under its revolving credit facilities and otherwise; the operating results of and the availability of any potential distributions from our joint ventures; weather and environmental conditions; and the other factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador's filings with the Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of Matador's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. 1 Adjusted EBITDA is a non-GAAP financial measure. The Company defines Adjusted EBITDA as earnings before interest expense, income taxes, depletion, depreciation and amortization, accretion of asset retirement obligations, property impairments, unrealized derivative gains and losses, certain other non-cash items and non-cash stock-based compensation expense and net gain or loss on asset sales and impairment. The most comparable GAAP measures to Adjusted EBITDA are net income or net cash provided by operating activities. The Company has not provided such GAAP measures or a reconciliation to such GAAP measures because they would be preliminary and prospective in nature and would not be able to be prepared without estimation of a number of variables that are unknown at this time. 2 PV-10 is a non-GAAP financial measure, which differs from the GAAP financial measure of "Standardized Measure" because PV-10 does not include the effects of income taxes on future income. The income taxes related to the acquired properties is unknown at this time because the Company's tax basis in such properties will not be known until the closing of the transaction and is subject to many variables. As such, the Company has not provided the Standardized Measure of the acquired properties or a reconciliation of PV-10 to Standardized Measure. View source version on businesswire.com: https://www.businesswire.com/news/home/20240612279533/en/   back

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Weatherford Announces Expansion of Credit Facility and Amendment of Accordion Size

Weatherford Announces Expansion of Credit Facility and Amendment of Accordion Size HOUSTON, June 11, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford," and together with its subsidiaries, the "Company," "we," "us" and "our") announced that it has increased its Credit Facility by $40 million to $720 million in aggregate commitments by adding a new lender. The Credit Facility is now comprised of a $327 million tranche available for performance letters of credit and a $393 million tranche available for revolving loans. The Company also amended the accordion feature in the Credit Facility to increase the allowable size to $1 billion. Girish Saligram, President and Chief Executive Officer of Weatherford, commented, "I am pleased to announce the expansion of our Credit Facility by an additional $40 million to $720 million. Along with the amendment to allow the accordion to scale up to $1 billion, this change provides further flexibility and strength to our liquidity and capital structure. The operating performance of the Company continues to provide the basis for such enhancements with the confidence of our banking partners, and we remain focused on generating long term value at Weatherford." About Weatherford Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company operates in approximately 75 countries with a global talent network of approximately 18,800 team members representing more than 110 nationalities and 340 operating locations. Contact:Mohammed TopiwalaVice President, Investor Relations and M&Ainvestor.relations@weatherford.com For Media:Kelley HughesSr. Director, Communications & Employment Engagementmedia@weatherford.com

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Energy Services of America to Present and Host 1x1 Meetings at the 14th Annual East Coast IDEAS Investor Conference on June 13

Energy Services of America to Present and Host 1x1 Meetings at the 14th Annual East Coast IDEAS Investor Conference on June 13 HUNTINGTON, W.Va., June 11, 2024 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), will present at the East Coast IDEAS Investor Conference on Thursday June 13, 2024 at Jay Conference - Bryant Park in New York, NY. The Company's presentation is scheduled to begin at 11:30am ET. The presentation is webcast and can be accessed through the conference host's main website: https://www.threepartadvisors.com/east-coast and the company's website. About IDEAS Investor Conferences The mission of the IDEAS Conferences is to provide independent regional venues for quality companies to present their investment merits to an influential audience of investment professionals. Unlike traditional bank-sponsored events, IDEAS Investor Conferences are "SPONSORED BY INVESTORS. FOR INVESTORS." and for the benefit of regional investment communities. Conference sponsors collectively have more than $200 billion in assets under management and include: 1102 Partners, Adirondack Research and Management, Allianz Global Investors: NFJ Investment Group, Ariel Investments, Aristotle Capital Boston, Ascend Wealth Advisors, Barrow Hanley Mewhinney & Strauss, BMO Global Asset Management, Constitution Research & Management, Inc., Diamond Hill, First Wilshire Securities Management, Inc., Granahan Investment Management, Great Lakes Advisors, Greenbrier Partners Capital Management, LLC, Hodges Capital Management, Ironwood Investment Management, Keeley Teton Advisors, Luther King Capital Management, Marble Harbor Investment Counsel, North Star Investment Management, Perritt Capital Management, Punch & Associates, Shepherd Kaplan Krochuk, Westwood Holdings Group, Inc., and William Harris Investors. The IDEAS Investor Conferences are held annually and are produced by Three Part Advisors, LLC. Additional information about the events can be located at www.IDEASconferences.com. If interested in participating or learning more about the IDEAS conferences, please contact Lacey Wesley at (817) 769 -2373 or lWesley@IDEASconferences.com. About Energy Services Energy Services of America Corporation (NASDAQ: ESOA), headquartered in0x202FHuntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and Central regions of0x202Fthe United States0x202Fand provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs 1,000+ employees on a regular basis. The Company's core values are safety, quality, and production. View original content:https://www.prnewswire.com/news-releases/energy-services-of-america-to-present-and-host-1x1-meetings-at-the-14th-annual-east-coast-ideas-investor-conference-on-june-13-302169956.html SOURCE Energy Services of America Corporation

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STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates Merger of Diamond Offshore Drilling, Inc. - DO

STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates Merger of Diamond Offshore Drilling, Inc. - DO NEW YORK, June 11, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Diamond Offshore Drilling, Inc. (NYSE: DO), relating to its proposed merger with Noble Corp plc. Under the terms of the agreement, each share of Diamond Offshore Drilling stock will be converted into the right to receive $5.65 in cash and 0.2316 shares of Noble stock. Click here for more information https://monteverdelaw.com/case/diamond-offshore-drilling-inc/. It is free and there is no cost or obligation to you. Before you hire a law firm, you should talk to a lawyer and ask: Do you file class actions and go to Court?When was the last time you recovered money for shareholders?What cases did you recover money in and how much?About Monteverde & Associates PC Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341. Contact:Juan Monteverde, Esq.MONTEVERDE & ASSOCIATES PCThe Empire State Building350 Fifth Ave. Suite 4740New York, NY 10118United States of Americajmonteverde@monteverdelaw.comTel: (212) 971-1341 Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter. View original content to download multimedia:https://www.prnewswire.com/news-releases/stockholder-investigation-the-ma-class-action-firm-investigates-merger-of-diamond-offshore-drilling-inc--do-302169688.html SOURCE Monteverde & Associates PC

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Transaction in Own Shares

Transaction in Own Shares Transaction in Own Shares 11 June, 2024 o o o o o o o o o o o o o o o o Shell plc (the `Company') announces that on 11 June, 2024 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 2 May 2024. In respect of this programme, BNP PARIBAS Financial Markets SNC will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2024 up to and including 26 July 2024. 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 12 of the Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes ("EU MAR") and EU MAR as "onshored" into UK law from the end of the Brexit transition period (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 BNP PARIBAS Financial Markets SNC on behalf of the Company as a part of the buy-back programme is detailed below. Enquiries Media International: +44 (0) 207 934 5550 Media Americas: +1 832 337 4335 LEI number of Shell plc: 21380068P1DRHMJ8KU70 Classification: Acquisition or disposal of the issuer's own shares Attachment RNS Report SHELL 2024 06 11

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Sidoti Events, LLC's Virtual June Small-Cap Conference

Sidoti Events, LLC's Virtual June Small-Cap Conference NEW YORK, NY / ACCESSWIRE / June 11, 2024 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day June Small-Cap Conference taking place Wednesday and Thursday, June 12-13, 2024. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.Presentation Schedule*All Times EDTWednesday, June 12, 2024 (Day 1)8:30-9:00**********InfuSystem Holdings Inc. (INFU)*****9:15-9:45*****ECD Automotive (ECDA)Lifeward [ReWalk Robotics] (LFWD)*****10:00-10:30Unisys Corporation (UIS)*****Myomo, Inc (MYO)Drilling Tools International Corp. (DTI)10:45-11:15American Software (AMSWA)USANA Health Sciences (USNA)Assertio Holdings, Inc. (ASRT)Information Services Group ["ISG"] (III)11:30-12:00Vishay Precision Group (VPG)Global Industrial Company (GIC)Zomedica Corp. (ZOM)Charles River Associates (CRAI)12:15-12:45Quad/Graphics Inc (QUAD)*****RadNet, Inc. (RDNT)*****1:00-1:30*****Rayonier Advanced Materials ["RYAM"] (RYAM)Superior Group of Companies (SGC)Portman Ridge Finance Corp (PTMN)1:45-2:15*****Electromed (ELMD)Senseonics Holdings, Inc. (SENS)BioLargo, Inc. (BLGO)2:30-3:00A10 Networks, Inc. (ATEN)Granite Ridge Resources, Inc. (GRNT)Theravance Biopharma (TBPH)ARC Document Solutions (ARC)3:15-3:45GlucoTrack Inc. (GCTK)Canoo (GOEV)Bitcoin Depot (BTM)Topaz Energy Corp (TSX: TPZ)4:00-4:30Intelligent Bio Solutions (INBS)Brilliant Earth Group, Inc. (BRLT)Oportun Financial Corp. (OPRT)TrueBlue (TBI)1x1s Only(12th)GATX Corporation (GATX)Hillenbrand (HI)MYR Group Inc. (MYRG)Pitney Bowes (PBI)Primoris Services Corporation (PRIM)Sonendo (SONX)Titan International, Inc. (TWI)******All Times EDTThursday, June 13, 2024 (Day 2)8:30-9:00GDEV Inc. (GDEV)*****Meihua Intl. Medical Technologies Co. (MHUA)*****9:15-9:45Commercial Vehicle Group (CVGI)Atossa Therapeutics (ATOS)Citius Pharmaceuticals, Inc. (CTXR)*****10:00-10:30Paysign, Inc. (PAYS)Graham Corporation (GHM)Allurion (ALUR)Mobile Infrastructure (BEEP)10:45-11:15*****Genco Shipping & Trading Ltd (GNK)VAREX IMAGING (VREX)Nature's Sunshine (NATR)11:30-12:00*****Brady Corporation (BRC)BioHarvest Sciences Inc. (CNVCF)Hovnanian Enterprises Inc (HOV)12:15-12:45*****Great Lakes Dredge & Dock Corp. (GLDD)*****CES Energy Solutions (CEU-TSX)1:00-1:30Sonim Technologies Inc. (SONM)Amerigo Resources (ARREF)*****The Real Brokerage Inc (REAX)1:45-2:15*****NN Inc. (NNBR)*****Consumer Portfolio Services (CPSS)2:30-3:00*****Alamos Gold Inc. (AGI)GoHealth (GOCO)Resources Connection, Inc. (RGP)1x1s Only(13th)Belden Inc. (BDC)CSW Industrials (CSWI)Federal Signal Corporation (FSS)HNI Corporation (HNI)OneSpan Inc. (OSPN)Plexus Corp. (PLXS)Sonendo (SONX)*****About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")In 2023, Sidoti & Company, LLC (www.sidoti.com) formed an affiliate company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the 25 years of experience Sidoti has as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 150 equities of which greater than 60 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. In 2024, Sidoti established Lighthouse Equity Research as an extension of its CSR program to meet the specific needs of companies not valued using traditional metrics or that face challenges obtaining coverage due to political risks or other factors. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Event's benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with 2,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.SOURCE: Sidoti Events, LLCView the original press release on accesswire.com

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Woodside Achieves First Oil at Sangomar in Senegal

Woodside Achieves First Oil at Sangomar in Senegal PERTH, Australia, Jun. 10 /BusinessWire/ -- Woodside has achieved first oil from the Sangomar field offshore Senegal, marking the safe delivery of the country's first offshore oil project. The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone floating production storage and offloading (FPSO) facility with a nameplate capacity of 100,000 barrels/day, and subsea infrastructure that is designed to allow subsequent development phases. "This is an historic day for Senegal and for Woodside," said Woodside CEO Meg O'Neill. "First oil from the Sangomar field is a key milestone and reflects delivery against our strategy. The Sangomar project is expected to generate shareholder value within the terms of the production sharing contract. "Delivering Senegal's first offshore oil project safely, through a period of unprecedented global challenge, demonstrates Woodside's world-class project execution capability. We are proud of the relationships we have formed with PETROSEN, the Government of Senegal and our key international and local contractors to develop this nationally significant resource." General Manager of PETROSEN E&P Thierno Ly said he was pleased to reach this milestone. "First oil from the Sangomar field marks a new era not only for our country's industry and economy, but most importantly for our people. "This achievement is the result of the unwavering commitment of our teams, who have worked diligently to overcome challenges and meet our strategic objectives in a complex and demanding environment. We have never been so well positioned for opportunities for growth, innovation, and success in the economic and social development of our nation." About Sangomar Field Development Phase 1 The Sangomar Field Development Phase 1 features the Léopold Sédar Senghor FPSO, named after the first president of Senegal, which is moored approximately 100 kilometres offshore Senegal. The vessel has a storage capacity of 1,300,000 barrels. The Phase 1 development includes 23 wells (11 production wells, 10 water injection wells and 2 gas injection wells). 21 of the 23 wells have been drilled and completed including 9 production wells. The RSSD joint venture has also approved a 24th well (production well) that will be completed in the current campaign. The Sangomar Project is being progressed by the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, comprising Woodside (Operator and 82% participating interest) and Societé des Petroles du Sénégal (PETROSEN) (18% participating interest). The Sangomar Field Development Phase 1 project cost estimate remains within the provided range of US$4.9-$5.2 billion. The drilling campaign at Sangomar is ongoing and Woodside expects to continue commissioning activities and safely ramping up production through 2024. Crude quality is expected to be ~31 degrees API which is in demand in European and Asian markets. Woodside's historical acquisition of participating interests in the RSSD joint venture from both Capricorn Energy and FAR included certain contingent payments. Given current timing of first oil and oil prices Woodside anticipates making both these payments. The final payments are subject to ongoing production performance and oil price. Teleconference A conference call providing an update on Sangomar first oil with a question-and-answer session will be hosted by Woodside CEO and Managing Director, Meg O'Neill, on Tuesday, 11 June 2024 at 09:30 AWST/11:30 AEST/20:30 CDT (Monday, 10 June 2024). A separate announcement containing the investor presentation that will be referred to during the conference call will be released shortly. We recommend participants pre-register 5 to 10 minutes prior to the event with one of the following links: https://webcast.openbriefing.com/wds-inv-2024/ to listen to a live stream of the question-and-answer session https://s1.c-conf.com/diamondpass/10039456-ur5bd3.html to participate in the question-and-answer session. Following pre-registration, participants will receive the teleconference details and a unique access passcode. This announcement was approved and authorised for release by Woodside's Disclosure Committee. Forward-looking statements This announcement may contain forward-looking statements with respect to Woodside's business and operations, market conditions, results of operations and financial conditions which reflect Woodside's views held as at the date of this announcement. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as `guidance', `foresee', `likely', `potential', `anticipate', `believe', `aim', `estimate', `expect', `intend', `may', `target', `plan', `forecast', `project', `schedule', `will', `should', `seek' and other similar words or expressions. Forward-looking statements are not guarantees of future performance and are subject to inherent known and unknown risks, uncertainties, assumptions, and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers, or representatives. Details of the key risks relating to Woodside and its business can be found in the "Risk" sections of Woodside's most recent Annual Report released to the Australian Securities Exchange, Woodside's Climate Transition Action Plan and 2023 Progress Report, and in Woodside's filings with the U.S. Securities and Exchange Commission, including Woodside's Annual Report on Form 20-F. You should review and have regard to these risks when considering the information contained in this announcement. Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by any forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20240610557422/en/   back

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ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Diamond Offshore Drilling, Inc.

ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Diamond Offshore Drilling, Inc. NEW YORK, June 10, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Diamond Offshore Drilling, Inc. (NYSE: DO) and its board of directors concerning the proposed acquisition of the company by Noble Corporation plc (NYSE: NE). Stockholders will receive $5.65 and 0.2316 shares of Noble Corporation common stock for each share of Diamond Offshore Drilling stock that they hold. The transaction is expected to close by the first quarter of 2025. If you are a stockholder of Diamond Offshore Drilling, Inc. and are interested in obtaining additional information regarding this investigation, please visit us at: http://www.rowleylawpllc.com/investigation/do/. You may also contact Shane Rowley, Esq. at Rowley Law PLLC, 50 Main Street Suite 1000, White Plains, NY 10606, by email at info@rowleylawpllc.com, or by telephone at 914-400-1920 or 844-400-4643 (toll-free). Rowley Law PLLC represents shareholders nationwide in class actions and derivative lawsuits in complex corporate litigation. For more information about the firm and its attorneys, please visit http://www.rowleylawpllc.com. Attorney Advertising. Prior results do not guarantee a similar outcome. View original content:https://www.prnewswire.com/news-releases/alert-rowley-law-pllc-is-investigating-proposed-acquisition-of-diamond-offshore-drilling-inc-302168590.html SOURCE Rowley Law PLLC

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Natural Gas Services Group Announces Expansion of Credit Facility

Natural Gas Services Group Announces Expansion of Credit Facility Midland, Texas, June 10, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. ("NGS" or the "Company"), a premier provider of natural gas compression equipment to the energy industry, announced today the closing of an expansion of its existing credit facility (the "Facility") led by Texas Capital Bank. The Company added $75 million of additional borrowing capacity to increase the committed borrowing capacity to $300 million. The Facility provides the Company with additional capital to fund further growth in NGS's rental equipment fleet. "We are pleased to announce the successful expansion of our Facility from $225 million to $300 million," said Justin Jacobs, Chief Executive Officer of NGS. "I want to thank all of our lending partners for their continued support and hard work to allow us to reach this agreement to increase our borrowing capacity. The incremental capital availability will help to continue to execute on our stated growth strategy." The amendment was effective as of June 6, 2024.

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MIND TECHNOLOGY, INC. REPORTS FISCAL 2025 FIRST QUARTER RESULTS

MIND TECHNOLOGY, INC. REPORTS FISCAL 2025 FIRST QUARTER RESULTS THE WOODLANDS, Texas, June 10, 2024 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2025 first quarter ended April 30, 2024. Revenues from continuing operations for the first quarter of fiscal 2025 were approximately $9.7 million compared to approximately $10.6 million in the first quarter of fiscal 2024. The Company reported operating income from continuing operations of approximately $730,000 for the first quarter of fiscal 2025 compared to approximately $419,000 for the first quarter last year. Net income for the first quarter of fiscal 2025 amounted to approximately $954,000 compared to a loss of approximately $240,000 in the first quarter of fiscal 2024. First quarter of fiscal 2025 net income attributable to common shareholders (after declared and undeclared preferred stock dividends) was approximately $7,000, or less than $0.01 per share compared to a loss of approximately $1.2 million, or a loss of $0.84 per share in the first quarter last year. Adjusted EBITDA from continuing operations for the first quarter of fiscal 2025 was approximately $1.5 million compared to approximately $874,000 in the first quarter of fiscal 2024. Adjusted EBITDA from continuing operations, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. The backlog of Marine Technology Products related to our Seamap segment as of April 30, 2024 was approximately $31 million compared to approximately $18 million at April 30, 2023. Rob Capps, MIND's President and Chief Executive Officer, stated, "We are pleased to report solid results for our fiscal first quarter. We are particularly encouraged by the improved operating margins. I think this is a result of our cost containment measures and improved production efficiencies. Our backlog remains strong, over 70% above the year ago amount, and we have a number of customer engagements that we expect to lead to further orders. With our strong backlog, improved cost structure, current visibility, and favorable macroeconomic tailwinds, we expect another profitable fiscal year for MIND with increased revenue and Adjusted EBITDA as compared to fiscal 2024. As expected, we saw increased working capital requirements in the first quarter, which utilized some of our existing liquidity. Managing our liquidity and increased working capital requirements remain a focus for us," concluded Capps. CONFERENCE CALL Management has scheduled a conference call for Tuesday, June 11, 2024 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2025 first quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference live on the MIND Technology website, mind-technology.com, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through June 18, 2024 and may be accessed by calling (201) 612-7415 and using passcode 13746964#. A webcast archive will also be available at mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com. ABOUT MIND TECHNOLOGY MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Forward-looking Statements Certain statements and information in this press release concerning results for the quarter ended April 30, 2024 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital and volatility in commodity prices for oil and natural gas. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Non-GAAP Financial Measures Certain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Company management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Company management also believes that these non-GAAP financial measures enhance the ability of investors to analyze the Company's business trends and to understand the Company's performance. In addition, the Company may utilize non-GAAP financial measures as guides in its forecasting, budgeting, and long-term planning processes and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Reconciliation of Backlog, which is a non-GAAP financial measure, is not included in this press release due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate the most directly comparable GAAP financial measures. -Tables to Follow- MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) April 30, 2024 January 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 924 $ 5,289 Accounts receivable, net of allowance for credit losses of $332 at each of April 30, 2024 and January 31, 2024 9,412 6,566 Inventories, net 16,161 13,371 Prepaid expenses and other current assets 3,014 3,113 Total current assets 29,511 28,339 Property and equipment, net 791 818 Operating lease right-of-use assets 1,725 1,324 Intangible assets, net 2,714 2,888 Deferred tax asset 122 122 Total assets $ 34,863 $ 33,491 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,703 $ 1,623 Deferred revenue 561 203 Accrued expenses and other current liabilities 5,303 5,586 Income taxes payable 1,928 2,114 Operating lease liabilities - current 728 751 Total current liabilities 10,223 10,277 Operating lease liabilities - non-current 997 573 Total liabilities 11,220 10,850 Stockholders' equity: Preferred stock, $1.00 par value; 2,000 shares authorized; 1,683 shares issued and outstanding at each of April 30, 2024 and January 31, 2024 37,779 37,779 Common stock, $0.01 par value; 40,000 shares authorized; 1,406 shares issued at April 30, 2024 and January 31, 2024 14 14 Additional paid-in capital 113,169 113,121 Accumulated deficit (127,353) (128,307) Accumulated other comprehensive gain 34 34 Total stockholders' equity 23,643 22,641 Total liabilities and stockholders' equity $ 34,863 $ 33,491 MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) For the Three Months Ended April 30, 2024 2023 Revenues: Sales of marine technology products $ 9,678 $ 10,597 Cost of sales: Sales of marine technology products 5,460 6,061 Gross profit 4,218 4,536 Operating expenses: Selling, general and administrative 2,759 3,306 Research and development 462 478 Depreciation and amortization 267 333 Total operating expenses 3,488 4,117 Operating income 730 419 Other income (expense): Interest expense - (204) Other, net 469 72 Total other income (expense) 469 (132) Income from continuing operations before income taxes 1,199 287 Provision for income taxes (245) (411) Net income (loss) from continuing operations 954 (124) Loss from discontinued operations, net of income taxes - (116) Net income (loss) $ 954 $ (240) Preferred stock dividends - declared - - Preferred stock dividends - undeclared (947) (947) Net income (loss) attributable to common stockholders $ 7 $ (1,187) Net income (loss) per common share - Basic and Diluted Continuing operations $ - $ (0.76) Discontinued operations $ - $ (0.08) Net income (loss) $ - $ (0.84) Shares used in computing net income (loss) per common share: Basic and diluted 1,406 1,406 MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) For the Three Months Ended April 30, 2024 2023 Cash flows from operating activities: Net income (loss) $ 954 $ (240) Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation and amortization 267 481 Stock-based compensation 48 50 Provision for inventory obsolescence 23 - Gross profit from sale of other equipment (457) (138) Changes in: Accounts receivable (2,837) (3,462) Unbilled revenue (10) 11 Inventories (2,812) 979 Prepaid expenses and other current and long-term assets 100 1,308 Income taxes receivable and payable (186) 206 Accounts payable, accrued expenses and other current liabilities 277 (2,788) Deferred revenue and customer deposits (120) 606 Net cash used in operating activities (4,753) (2,987) Cash flows from investing activities: Purchases of property and equipment (66) (57) Sale of other equipment 457 138 Net cash provided by investing activities 391 81 Cash flows from financing activities: Net proceeds from short-term loan - 2,945 Net cash provided by financing activities - 2,945 Effect of changes in foreign exchange rates on cash and cash equivalents (3) (2) Net change in cash and cash equivalents (4,365) 37 Cash and cash equivalents, beginning of period 5,289 778 Cash and cash equivalents, end of period $ 924 $ 815 MIND TECHNOLOGY, INC. Reconciliation of Net Income (Loss) and Net Cash Used in Operating Activities to EBITDA and Adjusted EBITDA from Continuing Operations (in thousands) (unaudited) For the Three Months Ended April 30, 2024 2023 Reconciliation of Net income (loss) to EBITDA and Adjusted EBITDA from continuing operations (in thousands) Net income (loss) $ 954 $ (240) Interest expense, net - 204 Depreciation and amortization 267 481 Provision for income taxes 245 411 EBITDA (1) 1,466 856 Stock-based compensation 48 50 Income from discontinued operations net of depreciation and amortization - (32) Adjusted EBITDA from continuing operations (1) $ 1,514 $ 874 Reconciliation of Net Cash Used in Operating Activities to EBITDA Net cash used in operating activities $ (4,753) $ (2,987) Stock-based compensation (48) (50) Provision for inventory obsolescence (23) - Changes in accounts receivable (current and long-term) 2,847 3,451 Interest paid, net - 204 Taxes paid, net of refunds 430 189 Gross profit from sale of other equipment 457 138 Changes in inventory 2,812 (979) Changes in accounts payable, accrued expenses and other current liabilities and deferred revenue (157) 2,182 Changes in prepaid expenses and other current and long-term assets (100) (1,308) Other 1 16 EBITDA (1) $ 1,466 $ 856 1. EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income before (a) interest income and interest expense, (b) provision for (or benefit from) income taxes and (c) depreciation and amortization. Adjusted EBITDA excludes non-cash foreign exchange gains and losses, stock-based compensation, impairment of intangible assets, other non-cash tax related items and non-cash costs of lease pool equipment sales. We consider EBITDA and Adjusted EBITDA to be important indicators for the performance of our business, but not measures of performance or liquidity calculated in accordance with GAAP. We have included these non-GAAP financial measures because management utilizes this information for assessing our performance and liquidity, and as indicators of our ability to make capital expenditures, service debt and finance working capital requirements and we believe that EBITDA and Adjusted EBITDA are measurements that are commonly used by analysts and some investors in evaluating the performance and liquidity of companies such as us. In particular, we believe that it is useful to our analysts and investors to understand this relationship because it excludes transactions not related to our core cash operating activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. EBITDA and Adjusted EBITDA are not measures of financial performance or liquidity under GAAP and should not be considered in isolation or as alternatives to cash flow from operating activities or as alternatives to net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. In evaluating our performance as measured by EBITDA, management recognizes and considers the limitations of this measurement. EBITDA and Adjusted EBITDA do not reflect our obligations for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two of the measurements that management utilizes. Other companies in our industry may calculate EBITDA or Adjusted EBITDA differently than we do and EBITDA and Adjusted EBITDA may not be comparable with similarly titled measures reported by other companies. Contacts: Rob Capps, President & CEO MIND Technology, Inc. 281-353-4475 Ken Dennard / Zach Vaughan Dennard Lascar Investor Relations 713-529-6600 MIND@dennardlascar.com View original content:https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2025-first-quarter-results-302168613.html SOURCE MIND Technology, Inc.

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