PG&E Meteorologists Forecast Rainfall from Three to More Than 10 Inches in Some Areas; Utility’s Geosciences Team Monitoring Potential for Post-Wildfire Debris Flows

PG&E Has Pre-Positioned More Than 500 Crews to Restore Power Safely and as Quickly as Possible

Vegetation Crews Out Today to Keep Trees Away from Powerlines During the Forecasted Storm

SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) has thousands of workers including more than 500 electric and vegetation-management crews standing by to respond to potential widespread power outages caused by an early-season atmospheric river event that is expected to pound Northern and Central California beginning on Sunday morning.

In advance of the storm, PG&E vegetation-management crews are out today, working to keep trees away from powerlines during the forecasted wet and windy weather.

PG&E meteorologists, along with experts from the National Weather Service, forecast that the atmospheric river will push into the northern portions of the utility’s service area early on Sunday, then slowly advance south and east during the day Sunday and into Monday. It is expected to bring strong winds, heavy rainfall and high-elevation mountain snow. Maximum wind gusts across the valley floor could reach up to 45-55 miles per hour; gusts for elevated terrain could be 55-65 mph.

PG&E’s meteorology team uses a Storm Outage Prediction Model that incorporates real-time weather forecasts, coupled with 30 years of historical storm data and system knowledge to show where and when storm impacts will be most severe. This model enables the company to pre-stage crews and equipment as storms approach to enable rapid response to outages.

“The rain and snow from this October storm will bring much-needed relief to the drought-parched portions of our state. But, along with the heavy winds, it will also cause power outages. We know outages for any reason are frustrating and impactful for our customers, and we are ready to roll our fleet of blue trucks to respond safely and as quickly as possible. We won’t stop until the last impacted customer’s power is back on,” said Mark Quinlan, a PG&E Vice President and Incident Commander for the company’s readiness and response to this storm.

Restoration Workforce

PG&E activated its Emergency Operations Center on Thursday for advance planning ahead of the weekend storm, as well as regional and local emergency operation centers across the service area.

Saturday, PG&E began pre-staging crews across the service area. The utility has more than 500 electric transmission, electric distribution and vegetation-management crews already staged or prepared to respond to outages. Crews range from two to four workers. Additionally, 285 troublemen and women (first on site to an outage to determine cause and necessary repairs), and 285 inspectors are working this event. Another 400 PG&E personnel will be on 911 standby, available to respond to any outage where traffic control or other support is needed, and approximately 300 vegetation-management workers will be ready.

Workers are prepared to tackle restoration in challenging weather conditions and are supported by the utility’s geosciences team. Geosciences is monitoring potential post-wildfire debris flows from incoming rains which could impact PG&E’s equipment and vegetation around its equipment.

PG&E has a microsite at the Santa Cruz Flea Market to stage crews and equipment to speed storm response and power restoration along the Central Coast. PG&E will stand up additional microsites or base camps as needed, depending on the impacts of the storm.

Keeping Customers Informed

PG&E knows how important it is to keep its customers informed. Customers can view real-time outage information on its website outage center and search by a specific address, by city or by county. This site has been updated to include in-language support for 16 languages.

Additionally, customers can sign up for outage notifications by text, email or phone. PG&E will let customers know the cause of an outage, when crews are on their way, the estimated restoration time, and when power is restored.

Storm Safety Tips

• Never touch downed wires: If you see a downed power line, assume it is energized and extremely dangerous. Do not touch or try to move it—and keep children and animals away. Report downed power lines immediately by calling 9-1-1 and by calling PG&E at 1-800-743-5002.
• Use generators safely: Customers with standby electric generators should make sure they are properly installed by a licensed electrician in a well-ventilated area. Improperly installed generators pose a significant danger to customers, as well as crews working on power lines. If using portable generators, be sure they are in a well-ventilated area.
• Use flashlights, not candles: During a power outage, use battery-operated flashlights, and not candles, due to the risk of fire. And keep extra batteries on hand. If you must use candles, please keep them away from drapes, lampshades, animals, and small children. Do not leave candles unattended.
• Have a backup phone: If you have a telephone system that requires electricity to work, such as a cordless phone or answering machine, plan to have a standard telephone or cellular phone ready as a backup. Having a portable charging device helps to keep your cell phone running.
• Have fresh drinking water, ice: Freeze plastic containers filled with water to make blocks of ice that can be placed in your refrigerator/freezer during an outage to prevent foods from spoiling. Blue Ice from your picnic cooler also works well in the freezer.
• Secure outdoor furniture: Deck furniture, lightweight yard structures and decorative lawn items should be secured as they can be blown by high winds and damage overhead power lines and property.
• Turn off appliances: If you experience an outage, unplug, or turn off all electrical appliances to avoid overloading circuits and to prevent fire hazards when power is restored. Simply leave a single lamp on to alert you when power returns. Turn your appliances back on one at a time when conditions return to normal.
• Safely clean up: After the storm has passed, be sure to safely clean up. Never touch downed wires and always call 8-1-1 or visit 811express.com at least two full business days before digging to have all underground utilities safely marked.

Other tips can be found at www.pge.com/beprepared.

About PG&E

PG&E, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

MEDIA RELATIONS:
415-973-5930

FORT WORTH, Texas--(BUSINESS WIRE)--FTS International, Inc. (NYSE American: FTSI) (the “Company” or “FTSI”) today announced preliminary financial and operational results for the third quarter of 2021.

Michael Doss, Chief Executive Officer, commented, “Our utilization in the third quarter was less than we expected due to unusually high customer-driven downtime. I am, however, pleased to report that pricing, net of inflation, was above expectations and is expected to increase further in the fourth quarter. Utilization has improved in October and we expect overall fourth quarter utilization rates to be similar to what we experienced in the second quarter.

“The underutilization in the third quarter was caused by one-off customer-driven scheduling changes and downtime, which caused an estimated $7.6 million negative impact to EBITDA. Three fleets had work gaps of more than 30 days due to last minute changes to customer completions schedules, which caused us to lose over 100 pumping days. Third-party non-productive time (NPT) in the third quarter was double the amount in the second quarter causing our pumping hours per day to decline, primarily due to repeated wellhead and wireline complications.

“Despite this, we continue to work with our customers and have not experienced any losses on adverse market changes. While the underutilization caused a hardship in the third quarter, we believe that we are on track to deliver EBITDA in the mid-teens in the fourth quarter, despite inflationary pressures and impacts from the holidays.”

Preliminary Third Quarter Financial Results

• Revenue of $88.4 million to $93.4 million
• SG&A, excluding stock-based compensation, of $10.5 million to $11.5 million
• Net loss of $9.5 million to $10.5 million
• Adjusted EBITDA of $5.8 million to $6.8 million
• Capital expenditures of approximately $13 million

Operational Update

About FTS International, Inc.

Headquartered in Fort Worth, Texas, FTS International is a pure-play hydraulic fracturing service company with operations across multiple basins in the United States.

To learn more, visit www.FTSI.com.

Preliminary Results

The unaudited preliminary financial and operational results for the third quarter 2021 represent the most current information available to management and are based on calculations or figures that have been prepared internally by management and have not been reviewed or audited by the Company’s independent registered public accounting firm. The Company’s actual results may differ from these preliminary financial and operational results due to the completion of the Company’s financial closing procedures, final adjustments and other developments that may arise between the date of this announcement and when results for the third quarter 2021 are finalized. The preliminary financial and operational results included in this announcement are not a comprehensive statement of the Company’s financial results and are subject to risks and uncertainties and should not be viewed as a substitute for full financial statements prepared in accordance with GAAP.

Important Information For Investors And Stockholders

This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed transaction between FTSI and ProFrac Holdings, LLC (“Acquiror”). In connection with this proposed transaction, FTSI may file one or more proxy statements or other documents with the Securities and Exchange Commission (the “SEC”). This communication is not a substitute for any proxy statement or other document FTSI may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF FTSI ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Any definitive proxy statement(s) (if and when available) will be mailed to stockholders of FTSI as applicable. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by FTSI through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by FTSI will be available free of charge on FTSI’s internet website at https://www.ftsi.com/investor-relations/sec-filings/default.aspx or by contacting FTSI’s primary investor relation’s contact by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 817-862-2000.

Participants in Solicitation

FTSI, Acquiror, their respective directors and certain of their respective executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of FTSI is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 5, 2021, its Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on April 30, 2021, certain of its Quarterly Reports on Form 10-Q and certain of its Current Reports filed on Form 8-K.

These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available.

Forward Looking Statements

This communication contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that are not statements of historical fact, including statements about FTSI’s ability to consummate the proposed transaction, the expected benefits of the proposed transaction and the expected impact of the coronavirus pandemic (COVID-19) on FTSI's businesses may be deemed to be forward-looking statements. All such forward-looking statements are intended to provide management’s current expectations for the future of FTSI based on current expectations and assumptions relating to FTSI’s business, the economy and other future conditions. Forward-looking statements generally can be identified through the use of words such as “believes,” “anticipates,” “may,” “should,” “will,” “plans,” “projects,” “expects,” “expectations,” “estimates,” “forecasts,” “predicts,” “targets,” “prospects,” “strategy,” “signs,” and other words of similar meaning in connection with the discussion of future performance, plans, actions or events. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict. Such risks and uncertainties include, among others: the failure to obtain the required vote of FTSI’s stockholders, the timing to consummate the proposed transaction, the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur, the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated, the diversion of management time on transaction-related issues, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of FTSI, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of FTSI to retain customers and retain and hire key personnel and maintain relationships with its suppliers and customers, economic or political changes that affect the markets that FTSI’s businesses serve which could have an effect on demand for FTSI’s products and impact FTSI’s profitability, disruptions in the credit and financial markets, including diminished liquidity and credit availability, disruptions in the Company's businesses from the coronavirus pandemic (COVID-19), cyber-security vulnerabilities, supply issues, retention of key employees, and outcomes of legal proceedings, claims and investigations, future changes, results of operations, domestic spending by the onshore oil and natural gas industry, continued volatility or future volatility in oil and natural gas prices, deterioration in general economic conditions or a continued weakening or future weakening of the broader energy industry, federal, state and local regulation of hydraulic fracturing and other oilfield service activities, as well as exploration and production activities, including public pressure on governmental bodies and regulatory agencies to regulate our industry, and the price and availability of alternative fuels, equipment and energy sources. Accordingly, actual results may differ materially from those contemplated by these forward-looking statements. Investors, therefore, are cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in FTSI’s filings with the Securities and Exchange Commission, including the risks and uncertainties identified in Part I, Item 1A - Risk Factors of FTSI’s Annual Report on Form 10-K for the year ended December 31, 2020.

These forward-looking statements speak only as of the date of this communication, and FTSI does not assume any obligation to update or revise any forward-looking statement made in this communication or that may from time to time be made by or on behalf of the Company.

Non-GAAP Financial Measures

To provide investors with additional information regarding our financial results, we have disclosed here and elsewhere in this earnings release adjusted EBITDA, a non-GAAP financial measure that we calculate as earnings before net interest expense, taxes, and depreciation and amortization further adjusted for expenses that management believes are non-recurring, and/or non-core to business operations and other non-cash expenses, including but not limited to employee severance costs, stock-based compensation, balance sheet impairments and write-downs, gains or losses on extinguishment of debt, gains or losses on disposal of assets, supply commitment charges, restructuring items, transaction and strategic initiative costs.

Adjusted EBITDA is a key measure used by our management and board of directors to evaluate our operating performance and generate future operating plans. The exclusion of certain expenses facilitates operating performance comparability across reporting periods by removing the effect of non-cash expenses and certain variable charges. Accordingly, we believe that adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.

Adjusted EBITDA has limitations as a financial measure and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are:

• adjusted EBITDA does not reflect net interest expense or changes in, or cash requirements for, working capital;
• adjusted EBITDA does not reflect tax expense or benefits;
• although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and adjusted EBITDA does not reflect capital expenditure requirements for such replacements or for new capital expenditures;
• adjusted EBITDA does not reflect gains or losses arising from the disposal of assets;
• adjusted EBITDA does not reflect stock-based compensation expenses. Stock-based compensation has been, and will continue to be for the foreseeable future, a recurring expense in our business and an important part of our compensation strategy;
• adjusted EBITDA does not reflect restructuring items or transaction and strategic initiative costs;
• other companies, including companies in our industry, may calculate adjusted EBITDA differently, which reduces its usefulness as a comparative measure.

Because of these limitations, you should consider adjusted EBITDA alongside other financial performance measures, including net loss and our other GAAP results.

The table included under “Reconciliation of Preliminary Net Loss to Adjusted EBITDA” provides a reconciliation of preliminary net loss to adjusted EBITDA for the third quarter 2021.

Reconciliation of Preliminary Net Loss to Adjusted EBITDA

FTS International, Inc.
Lance Turner
Chief Financial Officer
817-862-2000

DALLAS--(BUSINESS WIRE)--ESGEN Acquisition Corporation (“ESGEN” or the “Company”) announced today the closing of its initial public offering of 27,600,000 units, which includes the full exercise of the underwriters’ option to purchase 3,600,000 additional units, at a price of $10.00 per unit. Total gross proceeds from the offering were $276 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The units began trading on The Nasdaq Global Market (the “Nasdaq”) under the ticker symbol “ESACU” on October 20, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols “ESAC” and “ESACW,” respectively.

ESGEN is led by Chief Executive Officer Andrejka Bernatova and Chief Financial Officer Nader Daylami, and is affiliated with Energy Spectrum Capital, a Dallas-based venture capital firm with long-standing experience building companies across the energy and infrastructure landscapes over multiple decades. The Company intends to concentrate on identifying opportunities in the North American energy and infrastructure value chain and contiguous industries that it believes will fundamentally change the current energy landscape by accelerating a shift to a low-carbon future.

Citigroup and Barclays Capital Inc. served as the book-running managers for the offering and Ladenburg Thalman & Co. Inc. acted as co-manager. The Company granted the underwriters a 45-day option to purchase up to an additional 3,600,000 units at the initial public offering price to cover over-allotments, which the underwriters exercised in full.

A final prospectus relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media:

David Wells or Nick Rust
Prosek Partners
212-279-3115
This email address is being protected from spambots. You need JavaScript enabled to view it. / This email address is being protected from spambots. You need JavaScript enabled to view it.

Technology and Energy Industry Legal Veteran Added to Digital Flare Mitigation® and Distributed Cloud Computing Leadership Team

DENVER--(BUSINESS WIRE)--Crusoe Energy Systems Inc. (Crusoe) announces that Jamey Seely has joined as the Company’s General Counsel. Jamey Seely brings decades of legal and strategic leadership experience to the Digital Flare Mitigation® and distributed cloud computing company. Her membership in Crusoe’s executive team positions the company for continued expansion into new market opportunities and further enhances the team’s strategic capabilities in areas such as transaction structuring, fundraising and intellectual property management.

Jamey Seely, Crusoe’s new General Counsel said, “I am thrilled to join Crusoe and be a part of this fast-growing and dynamic organization. In particular, I feel strongly about the company’s environmental mission to reduce flaring, cut emissions and eliminate waste throughout the energy industry, and believe that my background will only help to accelerate what is already a great deal of momentum towards these goals. Environmental and climate issues have never been more important than right now, and it feels good to be part of a company that is innovating towards those ends.”

Cully Cavness, Crusoe’s President and Co-Founder said, “Jamey’s track record of leadership is very substantial, and is going to add a great deal of capability to our executive team. She has led IPO’s, negotiated major transactions in public and private settings, managed a portfolio of more than 1,000 patents, and brings an experience set that very uniquely spans technology, energy, industrial and general corporate law. All of that combined with a great cultural fit and alignment on core values made her the clear choice for our General Counsel role. I look forward to working with and learning from Jamey as we welcome her to the leadership team.”

Prior to joining Crusoe, Jamey Seely served as the General Counsel of the technology company Covetrus. She previously served as the Executive Vice President and General Counsel of Gates Industrial Corporation, where she oversaw all legal aspects related to the company’s IPO and subsequent legal operations and filings as a public company. Jamey was also the General Counsel of Ion Geophysical, a publicly traded technical service provider in the energy industry. Prior to that role, Jamey was Senior Vice President of Alternative Energy Resources at NRG Energy, the largest electrical power generator in the United States. Earlier in her career she held senior legal roles at both Direct Energy and Nuclear Innovation North America, LLC. She began her career at the full-service law firm Holland & Knight (formerly Thompson & Knight LLP), where she became a partner in the corporate and securities law practice. Jamey Seely holds a bachelor's degree from Baylor University and a JD from Southern Methodist University.

Jamey Seely has received numerous awards and recognitions throughout her career including 2020 Top 25 Most Powerful Women in Business (Denver Chamber of Commerce), 2020 Most Outstanding Woman in Business (Denver Business Journal), Trailblazer in Energy Law in 2017 (National Law Journal), Houston’s Top 50 Women Lawyers of 2017 (Texas Diversity Council), Top Women in Energy for 2016 (Texas Lawyer) and many others. She serves on the Board of Directors for the Women’s Foundation of Colorado and LGBT Bar Association.

About Crusoe Energy Systems Inc.

Crusoe Energy is on a mission to unlock value in stranded energy resources through the power of computation. The company aims to align the long term interests of the climate with the future of global computing infrastructure. As data centers consume an exponentially growing power footprint to deliver technology to all connected devices, we are inspired by making sure that the energy meeting that demand is sourced in an environmentally responsible fashion. Crusoe colocates mobile data centers with stranded energy resources, like flare gas and underloaded renewables, to deliver low-cost, carbon-negative distributed computing solutions. Crusoe Cloud is a managed cloud services platform powered by Crusoe that enables climate-friendly innovation in computationally intensive fields including artificial intelligence, graphics rendering and computational biology.

More Information:

Please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.crusoeenergy.com to learn more, and follow Crusoe on Linkedin and Twitter.

Cully Cavness This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on November 12, 2021 to holders of record on November 2, 2021.

About Baker Hughes:

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

Investor Relations
Jud Bailey
+1 281-809-9088
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Relations
Thomas Millas
+1 713-879-2862
This email address is being protected from spambots. You need JavaScript enabled to view it.

WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) today announced that it will release its third-quarter 2021 financial results before the market opens on Friday, Nov 5, 2021, and host a conference call that morning for investors and analysts.

The call also will be webcast live and archived on the Investor Relations section of the Global Partners website, https://ir.globalp.com.

About Global Partners LP

With approximately 1,550 locations primarily in the Northeast, Global is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit https://www.globalp.com/.

Gregory B. Hanson
Chief Financial Officer
Global Partners LP
(781) 894-8800

Sean T. Geary
Acting General Counsel, Secretary and Vice President – Mergers & Acquisitions
Global Partners LP
(781) 894-8800

METAIRIE, La.--(BUSINESS WIRE)--Biloxi Marsh Lands Corporation has posted its unaudited results for the second and third quarters of 2021 on the Company’s website www.biloximarshlandscorp.com. Hurricane Ida delayed the posting of the results for the second quarter.

The Company recommends that investors and all interested parties visit its website www.biloximarshlandscorp.com to view historical press releases, historical financial statements, and other relevant information. All inquiries should be made through the Contact Mailbox on the Company’s website: http://www.biloximarshlandscorp.com/contact/.

Biloxi Marsh Lands Corporation
Eric Zollinger: 504-837-4337

FORT WORTH, Texas--(BUSINESS WIRE)--FTS International, Inc. (NYSE American: FTSI) (“the Company” or “FTSI”) today announced that it has entered into a definitive agreement to be acquired by ProFrac Holdings, LLC (“ProFrac”), a leading oilfield services company, in an all-cash transaction that values FTSI at approximately $407.5 million, including payments to outstanding warrants. The Company also reported its preliminary Q3 2021 quarterly results.

Under the terms of the agreement, which has been unanimously approved by FTSI’s Board of Directors (the “Board”), FTSI stockholders will receive $26.52 per share of FTSI common stock in cash. This represents approximately a 14% premium over the Company’s 60-day volume-weighted average closing share price through October 21, 2021.

The transaction will create one of the largest completions focused service companies in the U.S. oil and gas industry. The combination of FTSI and ProFrac will bring together two strong and respected industry players to deliver greater efficiencies and expanded equipment capabilities that will enable the combined company to succeed in an ever-changing industry. Together, the companies will have improved through-cycle resiliency via enhanced expertise, technology and scale.

“The Board and executive leadership team have carefully evaluated a range of strategic alternatives focused on maximizing value and determined that this cash offer from ProFrac, which provides immediate and certain value at an attractive price, is in the best interest of all stockholders,” said Eugene Davis, Chairman of the Board of FTSI. “This transaction is the result of a thoughtful analysis of FTSI’s best long-term position for stockholders. At the same time, our Board recognizes industry dynamics remain fluid and believes that the 45-day ‘go-shop’ provides us the optimal structure to execute this transaction. I’m confident this combination will create a stronger organization to successfully compete in our rapidly evolving industry.”

Michael Doss, CEO of FTSI, added, “The combination of these two companies creates a leading completions focused company that will be in a better position to succeed through cycles, deliver the best level of service to our customers and retain the industry’s best talent.”

“We have long respected FTSI and the people that have guided them through the past few years to the position of strength they are in today,” said Ladd Wilks, CEO of ProFrac. “Together, these two organizations, which share an employee-centric vision and approach to operating in a dynamic industry, will create the scale needed to deliver the reliable, efficient and technology-led service our customers need.”

45-Day “Go-Shop”

The agreement includes a 45-day “go-shop” period expiring December 5, 2021. This allows the Board and its advisors to solicit alternative acquisition proposals from third parties. The Board will have the right to terminate the merger agreement with ProFrac to enter into a superior proposal, subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and FTSI does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or otherwise required.

Transaction Details

FTSI’s Board has unanimously approved the agreement with ProFrac and recommends that FTSI stockholders vote in favor of the transaction at the Special Meeting of Stockholders to be called in connection with the transaction.

The transaction with ProFrac is expected to close in the first quarter of 2022, subject to customary closing conditions, including approval by FTSI stockholders and receipt of regulatory approvals. The Company’s obligation to close the transaction is also conditioned upon approval by a majority of the Company’s stockholders, excluding its largest stockholder THRC Holdings, which is an affiliate of ProFrac. Upon closing of the transaction, the Company’s common stock will no longer be listed on any public market.

Advisors

Ducera Partners LLC is serving as financial advisor to FTSI and Davis Polk & Wardwell LLP is serving as its legal counsel. Piper Sandler & Co. is serving as financial advisor to ProFrac and Vinson & Elkins LLP is serving as its legal counsel.

About FTS International, Inc.

Headquartered in Fort Worth, Texas, FTS International is a pure-play hydraulic fracturing service company with operations across multiple basins in the United States.

To learn more, visit www.FTSI.com.

About ProFrac

ProFrac provides industry-leading solutions allowing our customers to harness critical natural resources. Since 2016, ProFrac has offered top of the line, high-pressure pumps paired with the toughest frac equipment crafted for longer-laterals and multi-well pads. ProFrac believes in environmental stewardship and continues to invest in technology and equipment to reduce our emissions.

Important Information For Investors And Stockholders

This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed transaction between FTSI and ProFrac. In connection with this proposed transaction, FTSI may file one or more proxy statements or other documents with the Securities and Exchange Commission (the “SEC”). This communication is not a substitute for any proxy statement or other document FTSI may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF FTSI ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Any definitive proxy statement(s) (if and when available) will be mailed to stockholders of FTSI as applicable. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by FTSI through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by FTSI will be available free of charge on FTSI’s internet website at https://www.ftsi.com/investor-relations/sec-filings/default.aspx or by contacting FTSI’s primary investor relation’s contact by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 817-862-2000.

Participants in Solicitation

FTSI, ProFrac, their respective directors and certain of their respective executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of FTSI is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 5, 2021, its Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on April 30, 2021, certain of its Quarterly Reports on Form 10-Q and certain of its Current Reports filed on Form 8-K.

These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available.

Forward Looking Statements

This communication contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that are not statements of historical fact, including statements about FTSI’s ability to consummate the proposed transaction, the expected benefits of the proposed transaction and the expected impact of the coronavirus pandemic (COVID-19) on FTSI's businesses may be deemed to be forward-looking statements. All such forward-looking statements are intended to provide management’s current expectations for the future of FTSI based on current expectations and assumptions relating to FTSI’s business, the economy and other future conditions. Forward-looking statements generally can be identified through the use of words such as “believes,” “anticipates,” “may,” “should,” “will,” “plans,” “projects,” “expects,” “expectations,” “estimates,” “forecasts,” “predicts,” “targets,” “prospects,” “strategy,” “signs,” and other words of similar meaning in connection with the discussion of future performance, plans, actions or events. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict. Such risks and uncertainties include, among others: the failure to obtain the required vote of FTSI’s stockholders, the timing to consummate the proposed transaction, the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur, the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated, the diversion of management time on transaction-related issues, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of FTSI, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of FTSI to retain customers and retain and hire key personnel and maintain relationships with its suppliers and customers, economic or political changes that affect the markets that FTSI’s businesses serve which could have an effect on demand for FTSI’s products and impact FTSI’s profitability, disruptions in the credit and financial markets, including diminished liquidity and credit availability, disruptions in the Company's businesses from the coronavirus pandemic (COVID-19), cyber-security vulnerabilities, supply issues, retention of key employees, and outcomes of legal proceedings, claims and investigations, future changes, results of operations, domestic spending by the onshore oil and natural gas industry, continued volatility or future volatility in oil and natural gas prices, deterioration in general economic conditions or a continued weakening or future weakening of the broader energy industry, federal, state and local regulation of hydraulic fracturing and other oilfield service activities, as well as exploration and production activities, including public pressure on governmental bodies and regulatory agencies to regulate our industry, and the price and availability of alternative fuels, equipment and energy sources. Accordingly, actual results may differ materially from those contemplated by these forward-looking statements. Investors, therefore, are cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in FTSI’s filings with the Securities and Exchange Commission, including the risks and uncertainties identified in Part I, Item 1A - Risk Factors of FTSI’s Annual Report on Form 10-K for the year ended December 31, 2020.

These forward-looking statements speak only as of the date of this communication, and FTSI does not assume any obligation to update or revise any forward-looking statement made in this communication or that may from time to time be made by or on behalf of the Company.

FTSI
Lance Turner
Chief Financial Officer, FTSI
817-862-2000
This email address is being protected from spambots. You need JavaScript enabled to view it.

Pat Tucker / Will Braun
Abernathy MacGregor
212-371-5999
This email address is being protected from spambots. You need JavaScript enabled to view it. / This email address is being protected from spambots. You need JavaScript enabled to view it.

ProFrac
Brian Uhlmer
SVP Strategy & Finance
817-693-2840
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--$TELL #LNG--Tellurian Inc. (Tellurian) announced today it will transfer the listing of its common stock from the Nasdaq Capital Market to the NYSE American.

Executive Chairman Charif Souki said, “Global natural gas shortages and recent history-making prices indicate the pressing need for additional liquefaction export capacity in the United States. Tellurian is poised to contribute to America’s status as an energy superpower, having achieved both regulatory permits and commercial success for Driftwood LNG phase one development. We have turned our focus to putting together a world class banking group and have started site preparation, in advance of giving our partner Bechtel notice to proceed with construction expected first quarter 2022. Transferring our stock listing to the NYSE American allows us to leverage the exchange’s prestigious trading platform for our shareholders’ benefit.”

“We’re excited to welcome Tellurian as it transfers to NYSE American and joins our community of innovators and disruptors,” said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group. “We look forward to working with Tellurian as it supplies the world with a reliable, clean energy supply.”

Tellurian expects its common stock to begin trading on the NYSE American on November 2, 2021 and will remain under the current symbol “TELL”. Trading of the common stock on its current platform is expected to continue until the close of business on November 1, 2021.

About Tellurian Inc.

Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas.

For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood project, the transfer of listing of the common stock, including the dates on which trading will end on Nasdaq and begin on the NYSE American, the timing of a notice to proceed with construction of the Driftwood project, and shareholder value. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2020 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 24, 2021, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.

Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
This email address is being protected from spambots. You need JavaScript enabled to view it.

Investors:
Matt Phillips
Vice President, Investor Relations
Phone +1.832.320.9331
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Global Industry Guide - Market Summary, Competitive Analysis and Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Oil & Gas industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Reasons to Buy

• What was the size of the global oil & gas market by value in 2020?
• What will be the size of the global oil & gas market in 2025?
• What factors are affecting the strength of competition in the global oil & gas market?
• How has the market performed over the last five years?
• What are the main segments that make up the global oil & gas market?

Key Highlights

• The oil and gas market volume is defined as the total consumption (barrels of oil equivalent) of refined petroleum products and natural gas by end-users in each country. The value of the oil segment reflects the total volume of refined petroleum products, including refinery consumption and losses, multiplied by the hub price of crude oil. The value of the gas segment is calculated as the total volume of natural gas consumed multiplied by the price of natural gas (Henry Hub spot price). The values represent the total revenues available to exploration and production companies from sales of crude oil and natural gas. All market data and forecasts are represented in nominal terms (i.e. without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average exchange rates.
• The length of the pandemic and restrictions introduced by various countries are still difficult to predict, though many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed "non essential". As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modelled on the assumption of a crisis scenario and has taken into consideration forecast impacts on national economics.
• The global oil and gas drilling market had total revenues of $1,147.5bn in 2020, representing a compound annual rate of change (CARC) of -3.4% between 2016 and 2020.
• Market consumption volumes declined with a CARC of -0.2% between 2016 and 2020, to reach a total of 47,082 million BoE in 2020.
• The value of the global oil and gas market declined by 40.1% in 2020, with the COVID-19 pandemic depressing demand and leading to the collapse of oil and gas prices.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Global Oil & Gas

3.1. Market Overview

3.2. Market Data

3.3. Market Segmentation

3.4. Market outlook

3.5. Five forces analysis

3.6. Macroeconomic Indicators

4 Oil & Gas in Asia-Pacific

5 Oil & Gas in Europe

6 Oil & Gas in France

7 Oil & Gas in Germany

8 Oil & Gas in Italy

9 Oil & Gas in Japan

10 Oil & Gas in Australia

11 Oil & Gas in Canada

12 Oil & Gas in China

13 Oil & Gas in The Netherlands

14 Oil & Gas in Spain

15 Oil & Gas in The United Kingdom

16 Oil & Gas in The United States

17 Company Profiles

17.1. Exxon Mobil Corporation

17.2. BP Plc

17.3. PetroChina Company Limited

17.4. PetroChina Co Ltd

17.5. Indian Oil Corporation Limited

17.6. OJSC Rosneft Oil Company

17.7. Engie SA

17.8. Vermilion Energy Inc

17.9. Total S.E.

17.10. Wintershall Dea GmbH

17.11. OAO Gazprom

17.12. Saras SpA

17.13. Eni S.p.A

17.14. Idemitsu Kosan Co Ltd

17.15. JX Nippon Oil & Gas Exploration Corp

17.16. Royal Dutch Shell plc

17.17. BHP

17.18. Chevron Corporation

17.19. Suncor Energy Inc.

17.20. Cenovus Energy Inc.

17.21. Husky Energy Inc

17.22. CNOOC Limited

17.23. China National Petroleum Corporation

17.24. GasTerra B.V.

17.25. Naturgy Energy Group SA

17.26. Repsol SA

17.27. Compania Espanola de Petroleos SAU

17.28. Centrica plc

17.29. CNOOC Petroleum North America ULC

17.30. ConocoPhillips

17.31. EOG Resources, Inc.

18 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/kzib2h

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE:RNGR) (the “Company”) will report third quarter 2021 financial and operating results after the market closes for trading on November 4, 2021. Following the announcement, the Company’s management will host a third quarter 2021 earnings conference call in the morning of November 5, 2021 at 10:00 a.m. Eastern time (9:00 a.m. Central time).

Interested parties are invited to participate on the call by dialing 1-833-255-2829, or 1-412-902-6710 for international calls, (request to join the Ranger Energy Services call) or via the Company’s website at www.rangerenergy.com. A replay of the conference call will be available following the call and can be accessed from www.rangerenergy.com.

About Ranger Energy Services, Inc.

Ranger Energy Services, Inc. is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. The Company also provides non-rig well services that are necessary to bring and maintain a well on production.

Ranger Energy Services, Inc.
J. Brandon Blossman, (713) 935-8900
Chief Financial Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Global Gas Utilities Industry Guide - Market Summary, Competitive Analysis and Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Gas Utilities industry profile provides top-line qualitative and quantitative summary information including: market share, industry size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry.

Key Highlights

• The gas utilities market covers all natural gas consumption, net of distribution or transmission losses, by end-users in the following categories: industrial (including use as a feedstock and autogeneration), commercial and public-sector organizations, residential consumers, electric power generation (including combined heat and power but excluding autogeneration and heat plant), and other (including transport, agriculture, centralized heat plant, and other usage). Values are calculated from segment volumes and the average annual price of gas charged to end-users in each segment net of any applicable taxes.
• In some countries, synthetic gas (also called syngas, coal gas, city gas, etc.) or biogas (generated from waste materials) may be used in a similar manner to natural gas and has therefore been included in the market volume. To take into account the different energy content of such gases, all calculations were carried out in energy units, and then converted to bcf using the conversion factor for natural gas.
• Market shares were calculated as the total volume of gas sold to external end-users in all segments, divided by the total market volume. To avoid the risk of double-counting, gas volumes that were distributed to end-users on behalf of another retailer under third-party network access agreements are not included. Wholesale, trading, and storage volumes are excluded (except for Russia where both wholesale and retail volumes are included). For companies which operate in both gas and power sectors, any self-supply to their own gas-fired generation plant is excluded.
• All market data and forecasts are represented in nominal terms (i.e. without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average exchange rates.
• The length of the pandemic and restrictions introduced by various countries are still difficult to predict, though many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed "non-essential". As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modelled on the assumption of a crisis scenario and has taken into consideration forecast impacts on national economics.
• The global gas utilities industry had total revenues of $2,940.3bn in 2020, representing a compound annual growth rate (CAGR) of 0.4% between 2016 and 2020.
• Industry consumption volume increased with a CAGR of 2.1% between 2016 and 2020, to reach a total of 111,657.3 billion cubic feet in 2020.
• The Industrial segment was the industry's most valuable in 2020, with total revenues of $1,066.2bn, equivalent to 36.3% of the industry's overall value.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Global Gas Utilities

3.1. Market Overview

3.2. Market Data

3.3. Market Segmentation

3.4. Market outlook

3.5. Five forces analysis

3.6. Macroeconomic Indicators

4 Gas Utilities in Asia-Pacific

5 Gas Utilities in Europe

6 Gas Utilities in France

7 Gas Utilities in Germany

8 Gas Utilities in Italy

9 Gas Utilities in Japan

10 Gas Utilities in Australia

11 Gas Utilities in Canada

12 Gas Utilities in China

13 Gas Utilities in The Netherlands

14 Gas Utilities in Spain

15 Gas Utilities in The United Kingdom

16 Gas Utilities in The United States

17 Company Profiles

17.1. OAO Gazprom

17.2. Novatek

17.3. Engie SA

17.4. Total S.E.

17.5. Electricite de France SA

17.6. Eni S.p.A

17.7. Enel SpA

17.8. Edison S.p.A.

17.9. Tokyo Gas Co., Ltd.

17.10. Daigas Group

17.11. Toho Gas Co Ltd

17.12. Origin Energy Limited

17.13. AGL Energy Limited

17.14. EnergyAustralia Pty Ltd

17.15. Enbridge Inc.

17.16. Fortis Inc.

17.17. Energir LP

17.18. ATCO Gas and Pipelines Ltd

17.19. PetroChina Company Limited

17.20. China Petroleum & Chemical Corp

17.21. China Gas Holdings Ltd

17.22. CNOOC Limited

17.23. E.ON SE

17.24. Eneco

17.25. Vattenfall AB.

17.26. Naturgy Energy Group SA

17.27. Endesa SA

17.28. Energias de Portugal S.A

17.29. Iberdrola, S.A.

17.30. British Gas Ltd

17.31. E.ON UK Plc

17.32. EDF Energy Ltd

17.33. Sempra Energy

17.34. Atmos Energy Corporation

17.35. Southern Company Gas

17.36. Consumers Energy Coop

18 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/mkuoyo

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

DALLAS--(BUSINESS WIRE)--Kosmos Energy (NYSE/LSE: KOS) announced today the following schedule for its third quarter 2021 results:

• Earnings Release: Monday, November 08, 2021, pre-UK market open via Business Wire, Regulatory News Service, and the Company’s website at www.kosmosenergy.com.
• Conference Call: Monday, November 08, 2021 at 11:00 a.m. EST. The call will be available via telephone and webcast.

Dial-in telephone numbers:
Toll Free: 1-877-407-0784
Toll/International: 1-201-689-8560
UK Toll Free: 0800 756 3429

Webcast:
investors.kosmosenergy.com

• Webcast Conference Call Replay: A replay of the webcast will be available at investors.kosmosenergy.com for approximately 90 days following the event.

About Kosmos Energy

Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in our Corporate Responsibility Report. For additional information, visit www.kosmosenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Investor Relations
Jamie Buckland
+44 (0) 203 954 2831
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Relations
Thomas Golembeski
+1-214-445-9674
This email address is being protected from spambots. You need JavaScript enabled to view it.

Mawson to deploy across the Quinbrook Australia and US portfolio in late 2021 and 2022

SYDNEY--(BUSINESS WIRE)--Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce its first Australian site will be online in October 2021, powered by 100% renewable energy, in partnership with Quinbrook Infrastructure Partners (“Quinbrook”).

Mawson and Quinbrook have partnered on the initial 20MW site in northern New South Wales, Australia. This initial site allows Mawson to establish a strategic operation in Australia. Mawson will be deploying a new generation Modular Data Centre (MDC) specifically designed for Australian conditions at this facility, which will add approximately 0.4 EH to global operations.

Beyond the initial 20MW project, Mawson and Quinbrook have identified a pipeline of renewable energy assets across the Quinbrook portfolio in Australia and the US where future sites are expected to be jointly developed.

James Manning, CEO and Founder of Mawson, said, "Quinbrook’s values, experienced team and diverse operations made them a logical partner. Our partnership reflects our joint view that renewable energy will be key to future data centre infrastructure. Mawson is seeking to identify renewable energy projects which lead the transition to a decarbonized society, with a key focus on sustainable bitcoin mining. Quinbrook’s deep experience in energy and focus on ESG investment principles made this first project an obvious choice.”

About Mawson Infrastructure

Mawson Infrastructure is a digital infrastructure provider, with diversified operations across Cryptocurrency Mining and Digital Asset Management. Headquartered in Sydney, Australia and operating across the USA and Australia, Mawson Infrastructure’s mission is to build a bridge between the rapidly emerging digital asset industry and traditional capital markets, with a strong focus on shareholder returns. Mawson matches energy infrastructure with next-generation mobile data centre solutions, enabling the proliferation of blockchain technology.

For more information, visit: www.mawsoninc.com

About Quinbrook Infrastructure Partners

Quinbrook Infrastructure Partners is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management. Quinbrook’s global investment and portfolio company teams are actively developing and constructing a portfolio exceeding 17GW of onshore wind, solar PV, reserve peaking power, battery storage projects, grid support and infrastructure, Virtual Power Plants and Community Energy Networks across the US, UK and Australia.

For more information, visit: www.quinbrook.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Mawson cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the possibility that Mawson’s need and ability to raise additional capital, the development and acceptance of digital asset networks and digital assets and their protocols and software, the reduction in incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility in the value and prices of cryptocurrencies and further or new regulation of digital assets. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on August 10, 2021, and in other filings Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

Investor Contact:
Brett Maas
646-536-7331
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.haydenir.com

SÃO PAULO--(BUSINESS WIRE)--Suzano, the world's leading eucalyptus pulp producer and a global benchmark in the manufacture of bioproducts developed from eucalyptus, announces today that it has revised one of its 14 long-term goals – collectively known as Suzano’s “Commitments to Renewing Life”*. Suzano’s goal to remove 40 million tons of carbon from the air by 2030 has been brought forward by five years to 2025. With this revision, Suzano reinforces its capacity to make an even more positive contribution to the planet's climate by achieving net carbon removals from the atmosphere at a faster pace than previously expected.

The new five-year target will be supported by the expansion of Suzano’s forest covering which will involve both an uplift in commercial planting operations and setting aside new designated conservation areas that were previously anthropized. Alongside these improvements, Suzano will maintain its focus on reducing carbon emissions across its own operations and supply chain and will continue to improve its forest management to avoid losses in its operations, maximize productivity and increase carbon removal. In parallel, the company remains committed to and engaged in discussing new methodologies for reporting carbon emissions and removals as well as for setting targets linked to climate change, such as the Science Based Targets Initiative and the GHG Protocol guidance on land use. For the purposes of measuring its carbon removal, Suzano considers its standing forest base only, with all harvested wood excluded from the calculation.

“Revising the target from 2030 to 2025 reinforces our commitment to capturing carbon from the atmosphere and underlines our belief that addressing climate change must be a priority. Decarbonizing the world economy is a matter that requires serious attention and is of utmost importance to current and future generations.” said Walter Schalka, CEO of Suzano.

Suzano maintains that in order for concrete targets for reducing carbon emissions to be achieved in the long-term, governments, companies and society must set and meet short- and medium-term targets. Suzano has been participating in a series of events and meetings with other companies, Brazilian government representatives and global leaders to address the topics that will be discussed at the United Nations Climate Change Conference (COP26), which will be attended by Suzano representatives.

*Suzano’s “Commitments to Renewing Life” are reported annually and verified by an independent third party.

Suzano
André Magnabosco
This email address is being protected from spambots. You need JavaScript enabled to view it.

Hawthorn Advisors
Zinka MacHale
This email address is being protected from spambots. You need JavaScript enabled to view it.

NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Holdings, LLC (“MIC” or the “Company”) (NYSE: MIC) today announced the results of its offer to repurchase for cash (the “Offer to Repurchase”) any and all of its 2.00% Convertible Senior Notes due 2023 (the “Notes”). The Offer to Repurchase expired at midnight, New York City time, on October 21, 2021 (the “Expiration Date”).

The Offer to Repurchase was conducted pursuant to the terms and conditions of the Indenture, dated as of July 15, 2014, between a predecessor to the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”), as amended and supplemented by the Second Supplemental Indenture, dated as of May 21, 2015, the Third Supplemental Indenture, dated as of October 13, 2016 and the Fourth Supplemental Indenture, dated as of September 22, 2021 (such Indenture, as so amended and supplemented, the “Indenture”). Pursuant to the Indenture, holders have the right (the “Fundamental Change Repurchase Right”) to require the Company to repurchase all of such holder’s Notes, or any portion thereof that is a multiple of $1,000 principal amount, on October 22, 2021, subject to extension (the “Fundamental Change Repurchase Date”), at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid interest thereon, to, but not including, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”). The completion of the sale of the Company’s Atlantic Aviation business on September 23, 2021, constituted a Fundamental Change pursuant to the Indenture, triggering the Fundamental Change Repurchase Right.

As of the expiration of the Offer to Repurchase, $26,947,000 aggregate principal amount of the Notes, representing approximately 79.8% of the total Notes outstanding, were validly tendered and not validly withdrawn pursuant to the Offer to Repurchase. The Company expects to pay approximately $26,978,528 million for the purchase of the Notes, including accrued and unpaid interest, on the settlement date, which is expected to be October 22, 2021. After settlement, $6,821,000 aggregate principal amount of the Notes will remain outstanding.

Wells Fargo Bank, National Association served as Trustee, Paying Agent and Conversion Agent under the Indenture (the “Conversion Agent”).

This press release does not constitute an offer to purchase, a solicitation of an offer to purchase or a solicitation of an offer to sell securities.

Cautionary Note Regarding Forward-Looking Statements

In addition to historical information, this release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. The Company may, in some cases, use words such as “project”, “believe”, “anticipate”, “plan”, “expect”, “estimate”, “intend”, “should”, “would”, “could”, “potentially”, “may”, or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements include, among others, those concerning the Company’s expected financial performance and strategic and operational plans, statements regarding sales of our businesses (including our previously approved reorganization), the ability to complete such sales and the anticipated uses of any proceeds therefrom, statements regarding the anticipated specific and overall impacts of COVID-19 and any related recovery, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Any such forward-looking statements are not guarantees of future performance and a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Reports on Form 10-Q, and in other reports filed from time to time with the Securities and Exchange Commission (SEC).

Given the risks and uncertainties surrounding forward-looking statements, do not place undue reliance on these statements. Many of these factors are beyond the Company’s ability to control or predict. These forward-looking statements speak only as of the date of this press release. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

About MIC

MIC owns and operates businesses providing energy services, production and distribution in Hawaii. For additional information, please visit the MIC website at www.macquarie.com/mic.

MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.

Investors:
Jay Davis
Investor Relations
MIC
212-231-1825

Media:
Lee Lubarsky
Corporate Communications
MIC
212-231-2638

SHARJAH, United Arab Emirates--(BUSINESS WIRE)--The Hamriyah Free Zone Authority (HFZA) has added another industry leader to its investors base after ArcelorMittal Projects, part of the ArcelorMittal Group, the world’s leading Steel and Mining company, recently acquired the assets of a Pipe & Coating Mill located at Hamriyah Free Zone and leased 1.38 million square feet of Industrial land.

The announcement was made during the signing of a memorandum of understanding (MoU) by HE Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, and Johannes De Schrijver, CEO of ArcelorMittal Projects.

According to the agreement, the company shall provide complete, customized, and sustainable steel solutions and services via three specialized and project-related business lines: Foundation Solutions, Solar Projects, and Energy Projects (Anti-corrosion coating solutions), in addition to (Water Transmission Pipeline), Infrastructure (Sleeves, Construction).

Commenting on the agreement, Saud Salim Al Mazrouei said, "We are so proud to add another industry leader to our investors' base at HFZA. The presence of ArcelorMittal Group, the world’s leading steel company, constitutes a great asset to the industrial sector in the Emirate of Sharjah.

“Such a move encourages other investors to launch new vital projects in the near future, especially now that the UAE is moving rapidly towards economic recovery,” Al Mazrouei added.

He stated that attracting ArcelorMittal Projects is a turning point in HFZA's directions towards realizing the requirements of the UAE’s industrial strategy.

"We are pleased to forge a long-term partnership with HFZA, through which we seek to provide the most cost-effective solutions. Our products are backed with the technical expertise of highly qualified people with an average experience of more than 15 years in HSAW/SSAW Pipe Manufacturing and Anti-Corrosion Coating," said Johannes De Schrijver.

De Schrijver added: "The HSAW/SSAW Pipes can be produced with a diameter ranging from 16” up to 100” and wall thickness starting from 6 mm to 25 mm with a capacity of 150,000 tons per annum. Pipes can be produced with lengths up to 36 m without circumferential weld. Longer pipes can be achieved by welding. We can provide pipes in all requested Steel Grades due to our worldwide network of coil producers.

#Ends#

video download link: https://we.tl/t-rdkHCsO3G2

For further information, please contact:
Majdi Ashour
Misbar Communications
00971551014522
This email address is being protected from spambots. You need JavaScript enabled to view it.

BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) was celebrated as a Champion of Board Diversity by The Forum of Executive Women at its virtual leadership breakfast on October 7. Essential was one of 27 companies from the Greater Philadelphia region recognized at the event for paving the way for gender equity.

The Forum of Executive Women annually honors the top public companies in the Philadelphia region with 30% or more women on their respective boards. This is the third time that Essential or its subsidiaries, Aqua and Peoples, have received the honor.

“Essential recognizes and embraces diversity and inclusion as core elements of our culture, and we’re excited to once again be recognized as a Champion of Board Diversity,” said Chris Franklin, Chairman and CEO of Essential Utilities. “Prioritizing an equitable and inclusive board and workforce makes us stronger and encourages constructive collaboration resulting from a broad array of perspectives, innovative ideas and solutions. This recognition is a great honor and a steppingstone toward our overarching ESG goals.”

Aqua was previously recognized by 2020 Women on Boards as a Winning ‘W’ Company for having 20 percent or more of its board seats held by women. Aqua also was recognized as a Champion of Board Diversity by the Forum of Executive Women in 2016 and 2019.

The Forum of Executive Women is a membership organization comprised of more than 500 of the most senior leaders in corporations, firms, not-for-profit organizations and the public sector throughout the region.

About Essential

Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.

WTRGF

Gretchen Toner
Communications & Marketing
M: 484.368.4816
This email address is being protected from spambots. You need JavaScript enabled to view it.

• Global revenue of $5.85 billion increased 4% sequentially and 11% year-on-year
• International revenue was $4.68 billion and North America revenue was $1.13 billion
• GAAP EPS, including charges and credits, was $0.39 and increased 30% sequentially
• EPS, excluding charges and credits, was $0.36 and increased 20% sequentially
• Cash flow from operations was $1.07 billion and free cash flow was $671 million
• Board approved quarterly cash dividend of $0.125 per share

HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today reported results for the third-quarter 2021.

Schlumberger CEO Olivier Le Peuch commented, “We started the second half of the year with strong results, delivering another quarter of sequential revenue growth, a fifth consecutive quarter of margin expansion, and a solid free cash flow performance. Revenue growth was led by Well Construction and Reservoir Performance, our predominantly service-oriented Divisions, delivering quality revenue that more than offset the impact of transitory global supply and logistics constraints in Production Systems. International revenue grew 11% year-on-year and is on track to meet our double-digit revenue growth ambition for the second half of 2021 compared to the same period last year.

“Our returns-focused strategy continues to deliver exceptional results at this early point of the growth cycle. Our third-quarter pretax segment operating margin reached its highest level since 2015 and cash flow from operations was $1.07 billion. I am excited about our improving earnings and cash flow potential as the macro outlook for energy strengthens significantly through 2022 and beyond.

“Geographically, international revenue of $4.68 billion grew 4% sequentially and 11% year-on-year. The sequential revenue increase was led by double-digit growth in Latin America complemented by sustained activity in the Europe/CIS/Africa and Middle East & Asia areas. In North America, revenue of $1.13 billion grew 4% sequentially and 9% year-on-year. The sequential growth was driven mainly by a strong seasonal rebound in land drilling, higher Asset Performance Solutions (APS) revenue in Canada, and an increase in drilling revenue in North America offshore.

“Among the Divisions, Well Construction continued its growth momentum, with revenue increasing 8% sequentially due to higher international and North America drilling activity both on land and offshore. Similarly, Reservoir Performance revenue increased 7% sequentially from higher exploration and appraisal activity across the international markets. Revenue from Digital & Integration and Production Systems was essentially flat.

“Sequentially, third-quarter pretax segment operating income increased 12% with pretax segment operating margin expanding by 120 basis points (bps) to 15.5%, while adjusted EBITDA margin grew 90 bps to 22.2%. This was driven by our Well Construction and Reservoir Performance Divisions. We are starting to see signs of improved service rates in both of these Divisions driven by our technology, which is creating visibly higher value for our customers and resulting in stronger technology adoption and activity share gains—particularly in the international markets.

“Third-quarter cash flow from operations was $1.07 billion and free cash flow was $671 million. On a year-to-date basis, we have generated free cash flow of $1.70 billion, which has allowed us to reduce our net debt by $1.43 billion since the beginning of the year.

“Looking ahead, we anticipate another quarter of growth, and expect to close 2021 with strong momentum that will set the foundation for an exceptional growth cycle.

“The industry macro fundamentals have visibly strengthened this year, particularly in recent weeks—with demand recovery, oil and gas commodity prices at recent highs, low inventory levels, and encouraging trends in pandemic containment efforts. Absent a recession or pandemic-related setback, these favorable conditions are expected to materially drive investment over the next few years—particularly internationally—and result in exceptional multiyear capital spending growth globally, both on land and offshore. As the market leader, we have an advantaged position from which to capture this growth given our technology, integration capability, and international strength, with our core poised for activity and earnings outperformance.

“In this context and given our financial outperformance at this point in the cycle, we are increasingly confident in achieving our mid-cycle adjusted EBITDA margin ambition of 25% or higher and sustaining a double-digit free cash flow margin throughout the cycle.”

Other Events

On October 21, 2021, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on January 13, 2022 to stockholders of record on December 1, 2021.

Revenue by Geographical Area

North America

North America revenue of $1.13 billion increased 4% sequentially, with both land and offshore revenue increasing, driven primarily by Well Construction activity. The sequential growth was due to a strong seasonal rebound in land drilling, higher APS revenue in Canada, and higher drilling revenue in North America offshore that was partially offset by hurricane-related disruption.

International

International revenue of $4.68 billion increased 4% sequentially led by double-digit growth in Latin America that was complemented by sustained activity in the Europe/CIS/Africa and Middle East & Asia areas.

Revenue in Latin America of $1.16 billion increased 10% sequentially due to double-digit revenue growth in Mexico, Argentina, and Brazil from robust activity in Well Construction, Reservoir Performance, and Production Systems, respectively. Revenue in Guyana, Ecuador, and Colombia also increased, driven by higher wireline and intervention activity in Reservoir Performance.

Europe/CIS/Africa revenue of $1.48 billion increased 2% sequentially, with growth reported in Scandinavia, Russia, Angola, and Nigeria. Peak summer drilling drove higher Well Construction activity in Scandinavia and Russia. Sustained exploration activity in Africa drove higher wireline and stimulation activity in Reservoir Performance, while Production Systems sales increased in Angola.

Revenue in the Middle East & Asia of $2.03 billion increased 2% sequentially with growth in Australia, East Asia, Indonesia, Saudi Arabia, and Qatar. Revenue in Australia and Indonesia increased from higher offshore drilling, benefiting Well Construction. East Asia revenue increased with growth across all four Divisions. In the Middle East, revenue in Saudi Arabia and Qatar grew from higher Reservoir Performance activity.

Results by Division

Digital & Integration

Digital & Integration revenue of $812 million declined 1% sequentially as higher APS project revenue was offset by lower digital solutions revenue following strong software sales in the second quarter. Revenue grew in North America, Latin America, and Middle East & Asia, offset by lower revenue in Europe/CIS/Africa.

Digital & Integration pretax operating margin of 35% expanded 154 bps sequentially, primarily due to increased profitability from APS projects.

Reservoir Performance

Reservoir Performance revenue of $1.19 billion increased 7% sequentially due to higher exploration and appraisal programs across the international markets. Double-digit growth in Latin America was driven by higher wireline evaluation activity in Guyana and Mexico, higher intervention activity in Brazil and Ecuador, and increased stimulation activity in Argentina. Revenue also grew in Europe and Africa primarily due to higher wireline evaluation activity. In addition, Saudi Arabia and Qatar revenue increased due to higher stimulation and intervention activity.

Reservoir Performance pretax operating margin of 16% expanded 202 bps sequentially. Profitability was boosted by higher offshore and exploration activity and a favorable technology mix, particularly in Latin America and Africa.

Well Construction

Well Construction revenue of $2.27 billion increased 8% sequentially due to higher land and offshore drilling across the international markets and increased rig activity in North America. North America revenue growth was driven by strong seasonal rebound on land drilling in Canada and higher offshore drilling in the Gulf of Mexico, notwithstanding the hurricane effects during the quarter. International revenue was driven by double-digit growth in Latin America, Africa, and Russia & Central Asia from the combination of increased offshore exploration activity and the peak of summer land drilling campaigns.

Well Construction pretax operating margin of 15% improved sequentially by 230 bps due to higher drilling revenue, boosted by the favorable mix of activity and new technology.

Production Systems

Production Systems revenue of $1.67 billion was essentially flat sequentially. Revenue increases in subsea and well production systems were offset by a revenue decline in midstream production systems. International activity was driven by double-digit growth in Latin America due to subsea production systems, particularly in Brazil and Mexico. US land revenue also increased due to higher sales of well and surface production systems, which outpaced the drilling and completed well count growth. These increases were offset by revenue declines in Europe/CIS/Africa and the Middle East & Asia, despite double-digit growth in Angola, Nigeria, East Asia, Indonesia, China, and Iraq. Revenue was partially impacted by transitory global supply and logistics constraints.

Production Systems pretax operating margin of 10% was essentially flat sequentially.

Quarterly Highlights

Schlumberger continues to win a growing number of contract awards based on technology differentiation, integration, and our ability to execute globally. This is resulting in a robust pipeline of work, particularly in the Middle East, offshore, and natural gas projects as the growth cycle expands. During the quarter, the following notable projects were secured:

• Schlumberger was awarded a multibillion dollar (USD) integrated stimulation technology and services contract by Saudi Aramco for its unconventional gas resources. Fit-for-basin technologies will enable operational performance and efficiency, in a work scope that includes the full suite of products and services for hydraulic fracturing, coiled tubing intervention, wireline services, Cameron hydraulic fracturing trees with MonoFlex* dual-connection fracturing fluid delivery technology, and flow back. Mobilization is expected to start in the fourth quarter of 2021.

• Petroleum Development Oman LLC (PDO) awarded Schlumberger a major services contract for the provision of high-pressure hydraulic fracturing and stimulation services for up to 350 wells in Oman. The five-year contract has two independent two-year options and comprises 105 oil and gas exploration wells and between 171 to 245 gas development wells. The work program is scheduled to commence in the fourth quarter of 2021.

• Kuwait Oil Company awarded Schlumberger a five-year supply agreement for wellheads, production trees, and services for 230 new wells and 250 workover wells in the country's deep Jurassic formations. The scope of the agreement includes the supply and installation services of 15,000-psi high-pressure, high-temperature (HPHT) wellheads, production trees, chokes, and control panels. Kuwait's Jurassic reservoirs hold significant gas reserves and are a key element in the country's long-term strategy.

In the offshore markets, Schlumberger continues to win significant awards as a result of its technology and integration capabilities driving performance, either by reducing time to first production, or by improving recovery from existing assets. This offshore activity growth is being driven by increased final investment decisions (FIDs) and awards of both short- and long-cycle projects. Examples from the quarter include:

• Schlumberger was awarded a significant contract by Turkish Petroleum (TP) for end-to-end production solutions for the greenfield Phase 1 development of the Sakarya Field, Turkey’s largest gas reserve. The integrated project scope will cover subsurface solutions to onshore production, including well completions, subsea production systems (SPS), and an early production facility capable of handling up to 350 MMscf/d of gas. Through this integration, from subsurface to processing facility, pipeline-ready gas will be delivered on an accelerated timeline.

• In the Ormen Lange Field, where A/S Norske Shell and the Ormen Lange Partnership have recently made the FID for Phase 3, OneSubsea^® will deploy a subsea multiphase compression system, comprising two 16-MW subsea compression stations tied into existing manifolds and pipelines—an industry leading innovation that will unlock an additional 30 to 50 billion m³ of natural gas and increase the field recovery rate from 75% to 85%. The OneSubsea multiphase compression system will facilitate a significant reduction in energy consumption, and thus CO₂ emissions, when compared to topside compression.

• In Brazil, Petrobras awarded Schlumberger a contract for integrated completions on 21 wells in presalt concessions. The intelligent completion design chosen for these wells includes a selective open hole lower completion, integrating a premium isolation valve and downhole interval flow control valves and a Metris* permanent monitoring system. Intelligent completions will enable Petrobras to enhance ultimate recovery in these higher-pressure reservoirs by more accurately monitoring and controlling production. Installation is expected to commence in the third quarter of 2022.

• OneSubsea was awarded a significant contract by Aker BP for the delivery, installation, and commissioning of a subsea production system with a reduced carbon impact for the Hanz project on the Norwegian Continental Shelf. The contract—which comprises three horizontal subsea trees, controls, and additional associated equipment—includes the use of refurbished subsea production equipment repurposed from previous projects. This unique approach will enable Aker BP to develop this field with reduced cost and carbon footprint as a tieback to the Ivar Aasen platform. This approach is estimated to remove more than 200 metric tons of CO₂e emissions from the project when compared to a conventional method.

The increase in customer activity is broad based as the growth cycle widens, not only geographically, but also across operating environments including onshore and midstream. Examples include:

• Cairn Oil & Gas, Vedanta Limited has awarded Schlumberger an integrated well construction and completion contract for 27 deep gas wells in the Raageshwari Field located in Rajasthan, India. Under the contract scope, Schlumberger will create reliability and efficiency improvement opportunities using a combination of unique, fit-for-basin technologies that has proven effective in the recently concluded 42-well deep gas campaign in this field. The integrated well construction and completion approach will drive value and efficiency for Cairn, which is one of the largest oil and gas exploration and production companies in India, as it executes its natural gas development plan.

• In India, Reliance Industries Limited has awarded Schlumberger a contract for the engineering and supply of two 25 m³/h rich monoethylene glycol (MEG) reclamation and regeneration plants, and a pretreatment unit to support increased gas production from the existing Kakinada onshore terminal. MEG is injected in production pipelines, captured, and reused to reduce hydrate formation and maximize gas system throughput. The MEG reclamation trains will use the PUREMEG* monoethylene glycol reclamation and regeneration system, which has lower operating cost compared with conventional systems.

Digital transformation is a key part of the industry’s future. Through our digital platform, which we continue to enhance, we are delivering performance impact for customers. Highlights from the quarter include:

• Schlumberger made a strategic investment in DeepIQ, Inc. to accelerate self-service analytics for enterprises’ industrial data. This will help maintain Schlumberger’s leading position in transformational digital solutions for the energy industry, leveraging DeepIQ technologies in combination with Schlumberger’s artificial intelligence (AI) solutions.

• Schlumberger has expanded its digital drilling planning and operations portfolio by acquiring Independent Data Services (IDS), the industry’s only automated reporting software for drilling operations. Augmenting the DrillPlan* coherent well construction planning solution and DrillOps* on-target well delivery solution via the cloud or as a stand-alone solution, IDS enables automated analysis and reporting of operational activities, giving E&P operators and drilling contractors actionable insights to improve operational performance.

• Offshore Canada, Schlumberger and ExxonMobil Canada are jointly working on the deployment of digital drilling solutions, which recently enabled ExxonMobil Canada to complete the first fully automated section drilled at the Hebron platform.

Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Global Group of Eight (G8) Industry Guide - Market Summary, Competitive Analysis and Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The G8 Oil & Gas industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• The G8 countries contributed $485,118.6 million in 2020 to the global oil & gas industry, with a compound annual growth rate (CAGR) of -4.1% between 2016 and 2020. The G8 countries are expected to reach a value of $656,195.0 million in 2025, with a CAGR of 6.2% over the 2020-25 period.
• Among the G8 nations, the US is the leading country in the oil & gas industry, with market revenues of $244,116.1 million in 2020. This was followed by Russia and Japan, with a value of $70,164.5 and $45,094.8 million, respectively.
• The US is expected to lead the oil & gas industry in the G8 nations with a value of $298,730.5 million in 2016, followed by Russia and Germany with expected values of $113,086.4 and $59,403.8 million, respectively.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the G8 oil & gas market
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the G8 oil & gas market
• Leading company profiles reveal details of key oil & gas market players' G8 operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the G8 oil & gas market with five year forecasts by both value and volume
• Compares data from the US, Canada, Germany, France, UK, Italy, Russia and Japan, alongside individual chapters on each country

Reasons to Buy

• What was the size of the G8 oil & gas market by value in 2020?
• What will be the size of the G8 oil & gas market in 2025?
• What factors are affecting the strength of competition in the G8 oil & gas market?
• How has the market performed over the last five years?
• What are the main segments that make up the G8 oil & gas market?

Key Topics Covered:

1 Introduction

2 Group of Eight (G8) Oil & Gas

3 Oil & Gas in Canada

4 Oil & Gas in France

5 Oil & Gas in Germany

6 Oil & Gas in Italy

7 Oil & Gas in Japan

8 Oil & Gas in Russia

9 Oil & Gas in The United Kingdom

10 Oil & Gas in The United States

11 Company Profiles

11.1. Suncor Energy Inc.

11.2. Cenovus Energy Inc.

11.3. Husky Energy Inc

11.4. Exxon Mobil Corporation

11.5. Engie SA

11.6. Vermilion Energy Inc

11.7. Royal Dutch Shell plc

11.8. Total S.E.

11.9. Wintershall Dea GmbH

11.10. Saras SpA

11.11. Eni S.p.A

11.12. Idemitsu Kosan Co Ltd

11.13. JX Nippon Oil & Gas Exploration Corp

11.14. OAO Gazprom

11.15. OJSC Rosneft Oil Company

11.16. Lukoil Oil Co.

11.17. Bashneft

11.18. Exillon Energy Plc

11.19. Centrica plc

11.20. BP Plc

11.21. CNOOC Petroleum North America ULC

11.22. Chevron Corporation

11.23. ConocoPhillips

11.24. EOG Resources, Inc.

12 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/cq6m8p

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900