Shell Midstream Partners, L.P. Declares Distribution of $0.30 Per Limited Partner Common Unit
Houston, July 22, 2021 (GLOBE NEWSWIRE) --
* SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license.
Houston, July 22, 2021 (GLOBE NEWSWIRE) --
* SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license.
Shell Midstream Partners, L.P. Declares Distribution of $0.30 Per Limited Partner Common Unit Houston, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) (the "Partnership") announces that the Board of Directors of its general partner declared a cash distribution of $0.30 per limited partner common unit for the fourth quarter of 2021. The distribution will be paid February 11, 2022 to unitholders of record as of February 1, 2022. TAX CONSIDERATIONS This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a U.S. trade or business. Accordingly, all of the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. # # #About Shell Midstream Partners, L.P.Shell Midstream Partners, L.P., headquartered in Houston, Texas, owns, operates, develops and acquires pipelines and other midstream and logistics assets. The Partnership's assets include interests in entities that own (a) crude oil and refined products pipelines and terminals that serve as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and deliver refined products from those markets to major demand centers and (b) storage tanks and financing receivables that are secured by pipelines, storage tanks, docks, truck and rail racks and other infrastructure used to stage and transport intermediate and finished products. The Partnership's assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast. For more information on Shell Midstream Partners, L.P. and the assets owned by the Partnership, please visit www.shellmidstreampartners.com. Inquiries: Shell Media Relations Americas: +1 832 337 4355 Shell Investor Relations North America: +1 832 337 2837 * SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license.
Talos Energy to Announce Fourth Quarter 2021 Results on February 24, 2022 and Host Earnings Conference Call on February 25, 2022 HOUSTON, Jan. 20, 2022 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) intends to release fourth quarter 2021 results for the period ended December 31, 2021 on Thursday, February 24, 2022 after the U.S. financial market closes. In addition to this release, Talos will host a conference call, which will be broadcast live over the internet, on Friday, February 25, 2022 at 10:00 AM Eastern Time (9:00 AM Central Time). Listeners can access the conference call through a webcast link on the Company's website at: https://www.talosenergy.com/investors. Alternatively, the conference call can be accessed by dialing (888) 348-8927 (U.S. toll free), (855) 669-9657 (Canada toll-free) or (412) 902-4263 (international). Please dial in approximately 15 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call. A replay of the call will be available one hour after the conclusion of the conference until March 4, 2022 and can be accessed by dialing (877) 344-7529 and using access code 6660290. ABOUT TALOS ENERGY Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing long-term value through its operations, currently in the United States and offshore Mexico, both upstream through oil and gas exploration and production and downstream through the development of future carbon capture and storage opportunities. As one of the Gulf of Mexico's largest public independent producers, we leverage decades of technical and offshore operational expertise towards the acquisition, exploration and development of assets in key geological trends that are present in many offshore basins around the world. With a focus on environmental stewardship, we are also utilizing our expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information, visit www.talosenergy.com. INVESTOR RELATIONS CONTACT Sergio Maiworm +firstname.lastname@example.org View original content to download multimedia:https://www.prnewswire.com/news-releases/talos-energy-to-announce-fourth-quarter-2021-results-on-february-24-2022-and-host-earnings-conference-call-on-february-25-2022-301464852.html SOURCE Talos Energy
Evolution Petroleum Announces Acquisition of Non-Operated Assets in the Williston Basin HOUSTON, TX / ACCESSWIRE / January 20, 2022 / Evolution Petroleum (NYSE American:EPM) ("Evolution" or the "Company") announced today the closing of an acquisition of oil-weighted, non-operated oil and natural gas assets in the Williston Basin (the "Transaction"). The Company acquired 50% of certain interests held by privately-owned Foundation Energy Management ("Foundation") in North Dakota in Billings, Golden Valley, and McKenzie counties. The purchase price at closing was $25.9 million, net of preliminary purchase price adjustments. The Transaction had an effective date of June 1, 2021 and closed on January 14, 2022.Transaction HighlightsAddition of approximately 2.3 million barrels of oil equivalent ("MMBOE") (80% oil, 9% natural gas liquids) of long-life producing reserves in a premier U.S. oil-producing basin, using January 14, 2022 strip pricing;Includes an average working interest of approximately 39% in 73 producing wells along with approximately 47,500 net acres (85% held by production) with associated interest in over 400 gross potential drilling opportunities;Incremental cash flow is expected to further support the Company's quarterly dividend;Increased Evolution's net daily production by approximately 10% or 596barrels of oil equivalent per day ("BOEPD"), based on the three months ended September 30, 2021;Acquisition funded from cash on hand and borrowings under the Company's existing senior credit facility;Requires minimal incremental overhead for the Company; andEstablishes a strategic operational relationship with Foundation in which Evolution may propose and fund drilling locations within the asset footprint.Management CommentsJason Brown, President and Chief Executive Officer, commented, "We are pleased to announce this strategic transaction with Foundation, an organization that shares a similar primary goal of generating steady, long-term cash flow for its investors. The Transaction provides Evolution with immediate incremental free cash flow that will be used to further support our current dividend policy. The Transaction also provides direct collaboration and involvement with our operating partner, Foundation, regarding the pace of asset development, including the ability to propose and execute targeted drilling and completion of potential drilling opportunities. This represents a significant increase in potential undeveloped reserves that we anticipate will be supportive of our dividend for many years to come."Brown continued, "With a purchase price based on oil prices much lower than current levels, this acquisition complements our low decline, long-life portfolio and provides a presence in the prolific Williston Basin. We expect to quickly integrate the Transaction with a minimal increase in overhead, similar to our purchase of interests in the Barnett Shale in 2021. We look forward to executing on additional targeted acquisition opportunities that provide immediate benefit to our shareholders and support our long-term strategy of driving increased and sustainable long term dividend payouts."Asset DetailsThe acquired assets consist of 50% of Foundation's interest, an approximately 39% working interest net to Evolution, in 73 producing wells in the Williston Basin in Billings, Golden Valley, and McKenzie counties, North Dakota, which was acquired by Foundation from a private seller in October 2021. The acquisition also included approximately 47,500 net acres with associated 400 potential drilling opportunities. The acquired assets consist of producing reserves of approximately 2.0 million barrels ("MMBls") of liquids and 1,600 million cubic feet of natural gas ("MMcf"), using January 14, 2022 strip pricing. The commodity mix of the assets is 80% oil, 11% natural gas, and 9% natural gas liquids.Evolution anticipates a number of the infill upside locations will be designated proved undeveloped ("PUD") during the Company's year-end reserves evaluation, as limited by the SEC's five-year PUD rule. Evolution expects the acquired drilling locations, of which more than 40 are already permitted and located on existing pads with infrastructure, will be funded out of future cash flow to support production and the Company's dividend. A limited drilling program is not expected to begin until 2023.Foundation, an established operator in the geographic region, will be the operator of the assets. As part of the Purchase and Sale Agreement, Evolution and Foundation have entered into a Joint Development Understanding whereby a working relationship has been established to develop the asset area prudently and in both owners' financial interest. As part of the agreement, Evolution has the ability to both propose and execute drilling locations within the asset footprint.Transaction Consideration and Capital AvailableEvolution funded the transaction from cash on hand and borrowings from the Company's senior credit facility with MidFirst Bank. Effective November 9, 2021, the Company's borrowing base was increased to $50 million, with an elected commitment amount of $40 million. As of December 31, 2021 and prior to the transaction, the Company had approximately $13 million in cash on hand and had $4million drawn under the credit facility. The Company estimates that net debt after giving effect to the Transaction will be well below the Company's targeted maximum of one times pro forma Adjusted EBITDA*. The credit facility agreement requires the Company to enter into hedges covering 25% of oil and natural gas production on a rolling twelve-month basis. In order to retain upside with commodity prices, the Company expects to utilize primarily costless collars.*Adjusted EBITDA is Earnings Before Interest, Taxes, Depreciation and Amortization and is a non-GAAP financial measure. The Company defines Adjusted EBITDA as net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion and amortization (DD&A), stock-based compensation, other amortization and accretion, ceiling test impairment and other impairments, unrealized loss (gain) on change in fair value of derivatives, and other non-cash expense (income) items.About Evolution PetroleumEvolution Petroleum Corporation is an oil and natural gas company focused on delivering a sustainable dividend yield to its shareholders through the ownership, management, and development of producing oil and natural gas properties onshore in the United States. The Company's long-term goal is to build a diversified portfolio of oil and natural gas assets primarily through acquisition, while seeking opportunities to maintain and increase production through selective development, production enhancement, and other exploitation efforts on its properties. Our assets include our non-operated interests in the Barnett Shale in North Texas, a CO2 enhanced oil recovery project in Louisiana's Delhi field, a secondary recovery project in Wyoming's Hamilton Dome field, and our interest in newly acquired properties in the Williston Basin in North Dakota. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at http://www.evolutionpetroleum.com.Cautionary StatementAll forward-looking statements contained in this press release regarding current expectations, potential results and future plans and objectives of the Company involve a wide range of risks and uncertainties. Statements herein using words such as "believe," "expect," "plans," "outlook," "should," "will," and words of similar meaning are forward-looking statements. Although our expectations are based on business, engineering, geological, financial, and operating assumptions that we believe to be reasonable, many factors could cause actual results to differ materially from our expectations and we can give no assurance that our goals will be achieved. These factors and others are detailed under the heading "Risk Factors" and elsewhere in our periodic documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.Company ContactsJason Brown, President & CEORyan Stash, SVP & CFO(713) 935-0122JBrown@evolutionpetroleum.comRStash@evolutionpetroleum.comSOURCE: Evolution Petroleum CorporationView source version on accesswire.com: https://www.accesswire.com/684723/Evolution-Petroleum-Announces-Acquisition-of-Non-Operated-Assets-in-the-Williston-Basin
EIP Launches New Fund to Scale the Boldest Ideas in Climate Tech Backed by One of the World's Largest Industrial Coalitions Focused on Climate Change, EIP's Frontier Fund Targets Revolutionary Technologies to Help the World Reach Net-Zero Emissions NEW YORK, Jan. 20 /BusinessWire/ -- Energy Impact Partners (EIP), a leading global investor in the transition to a sustainable future, announced today the launch of its Deep Decarbonization Frontier Fund (the "Frontier Fund"), targeting early-stage, revolutionary technologies that accelerate the transition to net-zero greenhouse gas emissions. With a target of $350 million, the fund has already received commitments for more than $200 million from both new and existing EIP investors. The Frontier Fund is built on two core principles. First, an unprecedented wave of innovation is coming to help solve the biggest, most challenging problems in deep decarbonization. Second, the demand for zero-carbon energy, products and goods will accelerate market adoption of these new technologies and drive enormous commercial outcomes for the winners. "We are looking for audacious entrepreneurs taking big swings at big problems in climate tech," said Shayle Kann, Partner in the EIP Frontier Fund. "Over the last six years we have built an ecosystem and process to drive innovation in massive, mature and technically complex industries; nowhere is this skillset needed more than the drive toward deep decarbonization." The Frontier Fund has already made numerous investments into pioneers focused on decarbonizing everything from power generation to fertilizer production. Example investments: Form Energy (disruptively cheap multi-day energy storage) Electric Hydrogen (industrial-scale, renewable-powered hydrogen production) Nitricity (zero-emissions nitrogen fertilizer) Carbon America (point-source carbon capture) Zap Energy (economic nuclear fusion) Boston Metal (steel produced from electricity, not coal) Sublime Systems (zero-carbon cement) EIP's in-house research team works closely with its strategic investors - more than 40 leading industrials from the utility, energy, built environment, finance, infrastructure and technology sectors - to identify, invest in and scale disruptive innovation from earliest ideation through commercial success. This unique collaborative model is particularly suited to the deeptech investment challenge, where the collective insights of EIP's ecosystem help navigate complex technical pathways and can significantly accelerate market adoption, as evidenced by more than 200 pilots and partnerships between EIP's 70+ portfolio companies and its strategic investor coalition. This process was central to developing a granular understanding of the future demands of a zero-carbon electricity system, and the need for extremely-low-capex, multi-day energy storage to compensate for long-term fluctuations in renewable generation, resulting in the Frontier Fund's investment in Form Energy, the only company pioneering a solution suited to the market's exact need. Mateo Jaramillo, CEO and Co-founder of Form Energy, said, "EIP is a known leader in the climate tech investment space. The launch of the Frontier Fund exemplifies their bold commitment and innovative approach to enable tomorrow's zero carbon electricity system. Form Energy is extremely pleased to be supported by EIP and to have the ability to join forces with their incredible partner coalition as we work to reshape the global electric system to enable a clean energy future." EIP recently expanded its dedicated Frontier Fund team by adding Ashwin Shashindranath as Investment Partner (previously at Macquarie), Dr. Gregory Thiel, Director of Technology (previously at ARPA-E), and Dr. Michael E. Webber as Chief Technology Officer (Previously CTO and CSO at Engie). "The insights we gain from working with hundreds of our partners' experts and methodically analyzing key climate tech sectors provides actionable insights about which problems need solving and which solutions have the best chances for success," said Dr. Michael E. Webber, EIP's Chief Technology Officer. "With this approach, we think we can help accelerate decarbonization and pick the winning teams and technologies." EIP's strategic partners and investors include leading innovators and industrials from the utility, energy, built-environment, infrastructure, finance and technology sectors: Alliant Energy (NASDAQ:LNT), Ameren Corp. (NYSE:AEE), AvalonBay Communities, Inc. (NYSE:AVB), Avista Corp. (NYSE:AVA), Burns & McDonnell, Duke Energy (NYSE:DUK), EDF Group through its corporate venture arm EDF Pulse Holding, Emera Inc. (TSX:EMA.CA), Entergy Corporation (NYSE:ETR), Evergy Inc. (NYSE:EVRG), FirstEnergy Corp. (NYSE:FE), Fortis Inc. (TSX, NYSE:FTS), Microsoft Climate Innovation Fund (NASDAQ:MSFT), OGE Energy Corp. (NYSE:OGE), Pinnacle West Capital Corporation (NYSE:PNW), Portland General Electric Company (NYSE:POR), PPL Corporation (NYSE:PPL), Public Storage (NYSE:PSA), Southern Company (NYSE:SO), TC Energy Corporation (TSX, NYSE:TRP), The Williams Companies, Inc. (NYSE:WMB) and Xcel Energy (NASDAQ:XEL) among others. For more information about Energy Impact Partners and the Frontier Fund, please visit www.energyimpactpartners.com. About Energy Impact Partners Energy Impact Partners, LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure - and has a team of nearly 60 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and Oslo. For more information about Energy Impact Partners and the Frontier Fund, please visit www.energyimpactpartners.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005296/en/ back
Enbridge Announces Redemption of Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17 CALGARY, AB, Jan. 19, 2022 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it intends to exercise its right to redeem all of its outstanding Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17 ("Series 17 Shares") on March 1, 2022 at a price of $25.00 per Series 17 Share, together with all accrued and unpaid dividends, if any. Beneficial holders who are not directly the registered holders of the Series 17 Shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds. Inquiries from registered shareholders should be directed to Enbridge's Registrar and Transfer Agent, Computershare Investor Services Inc., at 1-800-564-6253 (Canada and United States) or 1-514-982-7555 (Outside North America). About Enbridge Inc. Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which owns approximately 1,766 MW (net) in renewable power capacity in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com. Forward-Looking Information Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge Inc. ("Enbridge" or the "Company") and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries' future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely", "will" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements in this news release include statements regarding the proposed redemption of Enbridge's outstanding Series 17 Shares. Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Assumptions regarding the expected supply of and demand for crude oil, natural gas, NGL and renewable energy, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for the Company's services. Similarly, energy transition, including the drivers and pace thereof, the COVID-19 pandemic, exchange rates, inflation and interest rates impact the economies and business environments in which the Company operates and may impact levels of demand for the Company's services and cost of inputs, and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements. FOR FURTHER INFORMATION PLEASE CONTACT: MediaToll Free: (888) 992-0997Email: email@example.com Investment CommunityToll Free: (800) 481-2804Email: firstname.lastname@example.org View original content:https://www.prnewswire.com/news-releases/enbridge-announces-redemption-of-cumulative-redeemable-minimum-rate-reset-preference-shares-series-17-301464196.html SOURCE Enbridge Inc.