ORLANDO, Fla.--(BUSINESS WIRE)--Siemens Energy announced today the successful delivery and installation of three single phase Pretact® GSU Sensformer™ transformers that were deployed to provide a solution in response to a failed conventional transformer at a combined cycle power plant.
The Pretact transformers are designed to serve as replacement equipment in the event of transformer outages. These are multi-voltage, modular transformers that can be deployed anywhere and configured to match customer requirements using biodegradable insulating fluids that reduce environmental risks during transport and operation. They also offer smart technology that transmits real-time data to a cloud-based storage, analytics and visualization platform to allow for performance optimization.
Siemens Energy is leasing the transformers to the facility, which made it possible for the power plant to return to service in less than two months from a forced outage caused by a failure of their existing, conventional GSU transformer. The Pretact Sensformers will be in service until Siemens Energy delivers a new, permanent replacement transformer. The project is part of the Pretact transformer program that aims for rapid deployment of equipment to minimize outage times.
Society depends on reliable electricity, as long-term power interruptions can have disastrous consequences. Siemens Energy is focused on improving grid resiliency by offering mobile plug-and-play units that can quickly restore power after a failure at either a substation or generating facility or to avoid disruptions during grid maintenance and upgrades. Compared to conventional transformer replacements, which might not be available for 9 to 12 months after an outage, the easy-to-install Pretact technology allows for rapid reinforcement of a power grid in an emergency or due to unexpected events, as well as during seasonal peak loads or when networks expand.
Wade Lauer, senior vice president of Siemens Energy’s Transmission division in North America said, “This is the first time a multi-voltage GSU has been leased to customers as a flexible transformer replacement option. Being able to rapidly deploy innovative replacement equipment is key to enhancing grid resiliency here in the U.S. so that we can help our customers keep the lights on.”
Scott Gray, operations manager for Siemens Energy Transformers USA said, “Upon notification of the failure the Siemens Energy team was able to confirm a technical match, negotiate terms, mobilize to the storage location, and prepare the units for shipment within 2-1/2 weeks. The equipment was delivered to the customer site the next week, and was fully assembled, oil filled and tested in less than two weeks from mobilization to site.”
This press release and a press picture / press pictures / further material is available at www.siemens‑energy.com/press
For further information on Pretact® transformers, please see https://www.siemens-energy.com/global/en/offerings/power-transmission/portfolio/transformers.html
Follow us on Twitter at: www.twitter.com/siemens_energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
Siemens Energy is a trademark licensed by Siemens AG.
Stacia Licona
Phone: +1 (281)-721-3402
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BOSTON--(BUSINESS WIRE)--#BatteryResourcers--Orbia leads again with an additional $70 million in funding to support Battery Resourcers in expanding its global operations in commercial lithium-ion battery recycling. Orbia Ventures and Koura initiated this funding round after steering the investor syndicate that backed closed-loop lithium-ion battery recycler and manufacturer Battery Resourcers to develop its first commercial processing facility. Orbia and Koura have been joined by Hitachi Ventures, InMotion Ventures (JLR), Doral Energy, At One Ventures, TDK Ventures and Trumpf Ventures for this investment.
Analysts predict at least 145 million active electric vehicles (EVs) on the road by 2030 and governments worldwide are implementing adoption incentives and lithium-ion battery recycling mandates for EVs reaching end-of-life. With this investment round, Battery Resourcers will bring two additional commercial-scale processing facilities online in 2022 to meet surging demand for battery recycling and sustainably-sourced materials.
Sameer Bharadwaj, CEO of Orbia, said, “Battery Resourcers has made incredible progress in developing their industry-leading battery recycling and manufacturing technology. The advancements in pilot stage, combined with this round of funding, enables the company to rapidly scale to meet customer demand.”
Bharadwaj continued, “What first drew Battery Resourcers and Orbia together was a shared commitment to advancing lives around the world by developing technologies that enable wider adoption of renewables. Today, Battery Resourcers offers us a compelling investment as well as development opportunities that leverage our combined capabilities to deliver sustainable solutions for industries and consumers.”
Orbia, a global leader in specialty products and innovative solutions spanning the precision agriculture, data communications, building and infrastructure, fluorinated solutions and polymer solutions verticals, first announced its Series B investment in Battery Resourcers in April 2021 through its Orbia Ventures arm.
Koura, Orbia’s business focused on the development, manufacture and supply of fluoroproducts and technologies, is engaged in several initiatives with Battery Resourcers to develop and deploy technologies to recycle battery materials and enable gains in efficiency and sustainability. Koura is executing on a comprehensive energy materials strategy with an emphasis on electrolyte salts, binders and high-performance electrolyte additives and solvents from its new Koflyte line. In addition, Koura is working with Battery Resourcers to integrate recycled materials into the battery supply chains in North America and Europe and is supporting Battery Resourcers’ commercialization efforts in those markets.
Said Mike O’Kronley, CEO of Battery Resourcers, “The partnership we have with Orbia and Koura has blossomed from a vision for a circular future and through solving for the most critical part of an integrated supply chain: the battery chemistries themselves. Koura’s ownership of raw assets and expertise in battery materials is second to none. Together, I look forward to driving the clean transition locally and globally.”
About Orbia
Orbia is a community of companies bound by a shared purpose: to advance life around the world. The Orbia companies have a collective focus on ensuring food security, connecting communities to data infrastructure, reducing water scarcity, reinventing the future of cities and homes and expanding access to health and wellness with basic and advanced materials and solutions. Orbia operates in the Precision Agriculture, Data Communications, Building and Infrastructure, Fluorinated Solutions and Polymer Solutions sectors. The company has commercial activities in more than 110 countries and operations in over 50, with global headquarters in Mexico City, Boston, Amsterdam, and Tel Aviv. To learn more, please visit http://www.orbia.com.
About Koura
Koura is a global leader in the development, manufacture, and supply of fluoroproducts that play a fundamental role in enhancing everyday lives. Koura is a part of the Orbia community of companies, working together to tackle some of the world’s most complex challenges. Koura’s products are used in a vast range of applications including the construction of towns and cities, keeping homes cool, food fresh and even in the treatment of respiratory conditions. Headquartered in Boston, Koura has commercial activities across the world, with operations in the United Kingdom, Mexico, United States, India and Japan.
About Battery Resourcers
Based in Worcester, Massachusetts, Battery Resourcers operates the world’s most efficient lithium-ion battery recycling process. A vertically integrated recycling, refining and materials engineering company, Battery Resourcers turns spent batteries and production scrap directly into new, battery-ready cathode active material with significant reductions in costs, emissions and energy consumption. Founded in 2015 with a mission of returning 100% of battery active materials back into new batteries, the company today makes EV-grade, finished cathode active materials that perform as well as industry-leading brands.
Kacy Karlen
Global Head of Communications, Orbia
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865-410-3001
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today it will release financial results for the third quarter of 2021 on Thursday, November 4, 2021 after market close, followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific). President and Chief Executive Officer of Clean Energy Andrew J. Littlefair and Chief Financial Officer Robert M. Vreeland will host the call.
Investors interested in participating in the live call can dial 1.877.300.8521 from the U.S. and international callers can dial 1.412.317.6026. A telephone replay will be available approximately two hours after the call concludes through Saturday, December 4 by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 10160722.
There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
Robert M. Vreeland, CFO
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NASHVILLE, Tenn.--(BUSINESS WIRE)--#EMAP--Schneider Electric, the global leader in the digital transformation of energy management and automation, and UL, the global safety science leader, today announced the new Extended Manufacturing Assembly Process (EMAP) enabling UL authorized assemblers to apply the UL Certification Mark to a compliant product at a location that is outside of the physical location manufacturing factories. With a new process that is all-digital, Schneider Electric is the world’s first manufacturer of electrical distribution equipment, devices and software to utilize EMAP. Unveiled with the new FlexSeT switchboard, Schneider Electric has launched the industry’s first device compliant with the process’s rigorous standards. EMAP-authorized assembly sites must meet the same qualifications as a UL authorized factory through three key steps in the overall process:
UL and Schneider Electric collaborated to create the Extended Manufacturing Assembly Process to enhance the assembly experience with digital integrations that offer efficiency, accuracy, and time savings. The process provides a best-in-class digital journey through the design, build, and operate phases, making assembly, maintenance, and updates easy to manage throughout the product lifecycle.
By creating a unique “digital twin” for each product, assemblers are guided step-by-step through the assembly process by a visual model, and customers and maintenance workers can easily identify any components requiring updates or replacement. The modular design also provides more seamless installation and maintenance without specialized training for different devices.
“We are incredibly proud of the standards EMAP sets for the industry and the trust it provides for businesses around the world,” said Milan Dotlich, Vice President and General Manager, Energy and Industrial Automation for UL. “The process we’ve developed with Schneider Electric provides much-needed opportunities to expand the scope of cutting-edge equipment outside of a select few locations, while still ensuring every device meets the highest level of quality for safety and reliability.”
“As the first UL-certified switchboard utilizing EMAP in the industry, FlexSeT is the next step in the digital transformation of the industry,” said Guillaume Le Gouic, Senior Vice President of Power Systems at Schneider Electric. “We’re extremely grateful to UL for their leadership and collaboration in establishing the new process, and the commitment it provides to our customers and distributors.”
To learn more about the new FlexSeT switchboard and EMAP compliance, visit se.com/us/flexset. Purchases can be made through local distributors or Schneider Electric.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. www.se.com
Discover Life Is On | Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Hashtags: #EMAP #UL #FlexSeT #TheFutureIsSet #LifeIsOn #SchneiderElectric
Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
PR Agency for Schneider Electric – Ed Cruz; 805-535-5013; This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today it has entered into a definitive agreement to acquire oil and gas assets in the Eagle Ford from two sellers.
Acquisition Highlights:
MANAGEMENT COMMENTS
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “This acquisition meaningfully increases SilverBow’s oil production and furthers our Eagle Ford and Austin Chalk consolidation efforts while maintaining a balanced oil and gas portfolio. This represents our third acquisition since the beginning of August and the largest to date for SilverBow. This transaction bolsters our inventory with high rate of return locations and provides us with development optionality as we plan for 2022 and beyond. The acquisition is accretive to Adjusted EBITDA and further reduces our pro forma leverage ratio(2) given the incremental cash flow. As we have shown over time, we expect to continue driving our peer-leading capital efficiency and cost structure as these assets are combined with our existing portfolio.”
Mr. Woolverton commented further, “Today’s announcement is a testament to the extensive work we have done evaluating opportunities and executing our in-basin consolidation plan. Furthermore, SilverBow once again utilized a mix of both cash and stock to fund the purchase price. The use of equity has allowed us to access a larger opportunity set for strategic growth while aligning our interests with surrounding peer companies and other key stakeholders for accretive, long-term value creation. Including the pro forma contribution of our recent acquisitions, SilverBow is targeting a leverage ratio of 1.25x at year-end 2021. We plan to share additional details as part of our third quarter 2021 reporting in November.”
TRANSACTION DETAILS
The acquisition has an effective date of August 1, 2021 and is expected to close before year-end, subject to customary closing conditions. The total purchase price is approximately $75 million, consisting of $45 million in cash and the greater of (i) approximately 1.35 million shares of SilverBow common stock based on its 30-day volume weighted average price as of October 4, 2021 and (ii) the number of shares equal to $25 million divided by the 30-day volume weighted average price as of the first trading day preceding the closing date. SilverBow intends to fund the cash component and fees and expenses with cash on hand and borrowings under its revolving credit facility.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.
(Footnotes)
1 2021E Adjusted EBITDA based on SilverBow management estimates utilizing NYMEX strip pricing as of September 30, 2021. As used in this news release Adjusted EBITDA is calculated as net income (loss) plus (less) depreciation, depletion and amortization, accretion of asset retirement obligations, interest expense, impairment of oil and natural gas properties, net losses (gains) on commodity derivative contracts, amounts collected (paid) for commodity derivative contracts held to settlement, income tax expense (benefit), and share-based compensation expense. A forward-looking estimate of net income (loss) is not provided with the forward-looking estimate of Adjusted EBITDA (a non-GAAP measure) because the items necessary to estimate net income (loss) are not accessible or estimable at this time without unreasonable efforts. Such items could have a significant impact on the Company's net income (loss).
2 Accretion is based on Adjusted EBITDA for Leverage Ratio for fiscal year 2021. Leverage ratio is defined as total long-term debt, before unamortized discounts, divided by Adjusted EBITDA for Leverage Ratio (a non-GAAP measure) for the trailing twelve-month period. Adjusted EBITDA for Leverage Ratio is calculated as Adjusted EBITDA plus amortization of derivative contracts, in accordance with the covenant compliance calculations under SilverBow's Credit Agreement. Neither Adjusted EBITDA nor Adjusted EBITDA for Leverage Ratio should be considered a replacement for the comparable GAAP measure.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
Five local families will never have to worry about their energy bills again, thanks to the $250k donation from solar provider Atlantic Key Energy
PENSACOLA, Fla.--(BUSINESS WIRE)--This Saturday, local solar provider Atlantic Key Energy made a life-changing donation for five families in the Pensacola area. The donation, which amounts to $250k, will cover solar systems for all five family homes.
Atlantic Key Energy has been serving the state of Florida since 2019, helping families save money with the sun. The company stands by their mission to serve others and help them achieve more, and applies it to everything that they do. From this sentiment came their partnership with the local organization Feed Fosters NWF.
The company consistently sponsors the monthly meals that the organization provides to over 200 families throughout the northwest region of Florida.
“Being a parent is a huge responsibility, and these parents have twice the amount of responsibility if not more. It is a thankless job to look after the vulnerable members of society that have no one else. That is why we felt this giveaway was a great way to give back to families in the community that deserve it,” says CEO Brian Schonbeck.
In addition to their work with Feed Fosters NWF, Atlantic Key is a proud partner of the GivePower Foundation, whose solar water farms sustainably create access to clean water in water-scarce regions worldwide.
Atlantic Key Energy serves the Sunshine State and has expanded to Arkansas, Texas, Georgia, and South Carolina with 16 local offices and over 700 employees.
For more information about Atlantic Key Energy and their give-back initiatives, visit https://atlantickeyenergy.com/ake-gives-back/.
About Atlantic Key Energy Solar
Atlantic Key Energy is an industry leader in the responsible installation of solar energy. Atlantic Key Energy helps homeowners generate clean rooftop energy and lock-in affordable energy rates through free estimates, education, installation and excellent customer service. Through Energy Expects, AKE helps homeowners evaluate if their homes are already qualified to save with the sun. AKE was awarded the 2020-2021 Green Flash and Green Partner Award from CED Green Tech. AKE hopes to expand their reach across the entire east coast. To learn more about Atlantic Key Energy, check out their Facebook and Instagram or head to their website atlantickeyenergy.com.
Maria Nino
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407.541.9155
KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE: KSU) announced today that it has engaged Commtrex to enhance the visibility and connectivity of the KCS network’s over 100 transload facilities in the U.S. and Mexico using the Commtrex platform. The new relationship comes at a time of increasingly complex and volatile global supply chains, capacity constraints, labor shortages, rising transportation costs, as well as growing trade throughout North America due to the United States-Mexico-Canada Agreement.
Located in 19 U.S. and Mexican states, the KCS transload network handles food and agricultural commodities, bulk materials, chemicals, paper and forest products, steel and other metals. The Commtrex platform allows shippers to search for transload centers by location, commodities handled, services provided and other parameters to develop their freight rail options. Close to one-third of Commtrex’s 2,300 members are rail-served shippers.
“Working with Commtrex to support transload volume growth in the U.S. and Mexico supports our vision to be the fastest-growing, best-performing, most customer-focused transportation provider in North America,” said KCS executive vice president and chief marketing officer Mike Naatz. “This will help customers identify transload locations in competitive markets and secure shipping locations in Mexico - one of the fastest emerging logistics markets today.”
“The ability to easily connect shippers with transload facilities at origin and destination to help them develop a rail shipping plan, will facilitate greater conversion of truckload freight to rail,” said Commtrex chief executive officer Martin Lew. “We thank KCS for entrusting us to support the continued growth of their transload footprint. Our team is excited to realize new efficiencies for KCS’ transload operations and shippers as we drive more commercial opportunities through our digital rail logistics platform.”
About Kansas City Southern
Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south-central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
About Commtrex
Commtrex is the largest rail logistics platform empowering shippers to find and connect with transload services, storage locations, warehouses, lessors, and a wide range of service providers. Commtrex is a highly trusted, effective, and data driven platform that is modernizing how the rail industry connects. Within three years, Commtrex has grown to over 2,300 active members, many of whom are commodity shippers moving freight by rail across North America. More information about Commtrex can be found at www.commtrex.com.
KCS: C. Doniele Carlson, 816-983-1372, This email address is being protected from spambots. You need JavaScript enabled to view it.
Commtrex: Kim Turner, 504-701-1919, This email address is being protected from spambots. You need JavaScript enabled to view it.
OSLO, Norway & STERLING, Va.--(BUSINESS WIRE)--#LeifErikson--Bulk Fiber Networks, a leading builder and operator of fiber network infrastructure in the Nordics, and WFN Strategies, a leading submarine cable planning, engineering, and implementation firm, together announce commencement of a feasibility study for the prospective Leif Erikson cable project, unlocking the global renewable giants Norway and Canada.
The Leif Erikson Cable System will consist of a 4.200 km direct link between southern Norway and Atlantic-Canada connecting into Goose Bay, including plans to extend the system terrestrially back to Montreal. The Leif Erikson system will be the first trans-Atlantic cable powered with 100% renewable energy in line with Bulk’s vision to bring sustainable infrastructure to a global audience.
The Leif Erikson subsea fiber cable will form a northern route between Norway and Canada with 100% renewable energy feed from both sides of the Atlantic.
The feasibility study will be used for survey and construction planning, hazard identification, risk management, and budget and economic modeling. In addition, the feasibility study will develop sustainability requirements for the supply chain and life cycle management.
Bulk Infrastructure owns and operates more than 10,000 km of international and intra-Nordic high-capacity subsea and terrestrial fiber networks, including four live subsea fiber systems, one under construction and the Leif Erikson system now kicking off detailed planning.
WFN Strategies will act as the project planner, designer, and implementer, establishing an initial understanding of the telecommunications infrastructure which will need to be constructed; creating a high-level plan (technical requirements and timeline) for developing that infrastructure; identifying any obstacles or issues in constructing the infrastructure; and providing budgetary cost estimates for the Leif Erikson Cable System project. WFN will bring long term industry experience into the project planning and management.
“We are pleased to formally kick off the Leif Erikson project together with WFN,” said Peder Naerboe, Founder & Executive Chairman at Bulk. “WFN’s experience with submarine cable projects in the arctic regions as well as their determination to include Sustainability as a key element all through the project management makes them the ideal partner for us in a project like Leif Erikson.”
“We are excited to be working with Bulk in preparing the Feasibility Study for the Leif Erikson submarine cable project,” said WFN Strategies Managing Director, Wayne Nielsen. “Bulk Fiber Networks continues to demonstrate success in project execution and making sustainable digital infrastructure available for a rapidly expanding industry. This project draws nicely on our cable engineering and development capabilities, and we look forward to supporting this new system.”
In the Norwegian end of the Leif Erikson system, a prosperous Nordic Data Center industry is rapidly becoming a sustainability hub in European Digital Infrastructure. The Nordic governments support digital infrastructure development at scale. As an example the Norwegian government issued in 2018 a national data center strategy: “Powered by Nature: Norway as a Data Center Nation.” A critical element to achieving this vision of the Nordics as a sustainable Digital Infrastructure hub in Europe, is the availability of high-capacity dark fiber, including low-latency pathways to North America and Central Europe. The Leif Erikson system would be a hallmark project in such respect, and would furthermore be the first trans-Atlantic fiber system that would be powered by 100% renewable energy in both ends. This was also acknowledged by the Global Carrier Awards when shortlisting Leif Erikson for special recognition in the 2021 awards to be announced later this month.
About Bulk Fiber Networks AS
Bulk Fiber Networks is a leading builder and operator of fiber network infrastructure, tailor-made to meet the growing demands of large-scale data and cloud service providers in the Nordics, the US and Europe. We offer some of the shortest, lowest-latency international and intra-Nordic fiber routes available. To learn how Bulk Fiber Networks can help you connect into the Nordics, visit bulkinfrastructure.com and follow us on LinkedIn, Twitter and Facebook. Bulk Fiber Networks is a division of Bulk Infrastructure, a leading provider of sustainable digital infrastructure in the Nordics.
About WFN Strategies, LLC
WFN Strategies, LLC (wfnstrategies.com) is an industry-leading consultancy specializing in the planning, procurement, and implementation of submarine cable systems. WFN has served the telecommunications industry for 20 years and possesses an accredited ISO 9001:2015 management system, and ISO 27001:2013 InfoSec program for the implementation of submarine cable systems for commercial, governmental, and offshore energy companies throughout the world. We are in the process of obtaining our ISO 14001:2015 certification for an environmental management system. WFN’s commitment to sustainability spans two decades, and it recently adopted a roadmap to reduce Scope 1, 2, and 3 carbon emissions in line with climate science, and to achieve net-zero carbon emissions by 2040. WFN advocates for reduced emissions through renewable energy alternatives for clients’ submarine cables. In 2019, WFN received the President’s “E” Award for Exports.
Mia Hinterwaldner
iMiller Public Relations
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+1 866-307-2510
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) has received a AAA rating in the MSCI environmental, social and governance (ESG) ratings for 2021 after earning AA ratings from MSCI ESG for 10 consecutive years. The AAA rating designates Hess as a leader in managing industry specific ESG risks relative to peers.
MSCI provides research, ratings and analysis of the ESG business practices of thousands of companies worldwide. Learn more about MSCI ESG ratings here.
“We are very proud to have received MSCI ESG’s highest rating as a leader in our industry,” said Alex Sagebien, Vice President, Environment, Health and Safety. “Our AAA rating reflects our strong management practices to reduce carbon emissions as well as our top quartile performance in areas such as biodiversity and land use, reduction of air and water emissions and waste, and making a positive impact on the communities where we operate.”
Hess published its 24th annual sustainability report in 2021, which provides a comprehensive review of the company’s strategy and performance on ESG programs and initiatives.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
Mercedes-EQ Experience brand centers pop up in New York and California alongside a 20-city test drive tour to immerse consumers in the brand’s electrification efforts
ATLANTA--(BUSINESS WIRE)--Mercedes-Benz USA (MBUSA) announced today the launch of several interactive initiatives to educate consumers across the country about the brand’s first line of electric vehicles, Mercedes-EQ. Consumers in 20 U.S. cities will have the chance to test drive the first vehicle from the line, the all-new 2022 EQS Sedan, which officially arrives in the U.S. market later this fall. Later this month, the luxury automotive brand will also open the first of three Mercedes-EQ Experience brand centers in New York City, where guests will be able to learn more about its commitment to an electric future.
The local test drives simultaneously kicked off in Las Vegas, NV and Orange County, CA on October 6. At the test drives, attendees will enjoy a complimentary 30-minute drive to experience the technology, design, functionality, and connectivity of the EQS Sedan. Each ride will be accompanied by a product specialist who will serve as a right seat passenger. Attendees will also have access to the Mobile Experience Center, a hub where they will experience the pinnacle of electric luxury, in addition to an interactive digital experience educating them on the charge and range capabilities of electric vehicles.
On October 11, the Mercedes-EQ Experience will open its doors in the Meatpacking District of New York City, located at 60 10th Avenue, and will remain open through December 1. The Mercedes-EQ Experience will bring to life next generation innovations of Mercedes-EQ. A range of curated, immersive experiences will touch on the themes of a sustainable future, progressive luxury, and education on the vehicle’s charge and range capabilities. These will include:
An additional Mercedes-EQ experience will open in Santa Monica, CA from November 15-December 15, with a final center opening in early 2022.
“We are so excited to provide our U.S. consumers with a luxury electric offering with the new EQS Sedan. Through these local initiatives, we want to make it as easy as possible for drivers across the country to learn about the new Mercedes-EQ family of vehicles, and ultimately, feel comfortable going electric,” said Monique Harrison, Head of Brand at Mercedes-Benz USA. “Mercedes-Benz is focused on creating a smarter way of living and we look forward to bringing our U.S. consumers along on this important journey with us.”
The Mercedes-EQ family of vehicles will combine sophistication, sustainability, high-end technology, and style for an unprecedented fully electric luxury experience. The first models being introduced to the U.S. market include the EQS 450+ and the EQS 580 4MATIC and will launch later this fall. With powerful and efficient systems, highly intelligent and adaptive functions, and sustainable yet luxurious details, the EQS unites performance, luxury, and sustainability in the most progressive way.
To view the full test drive city tour schedule and register for a specific session, please visit www.MercedesEQTestDrive.com. Consumers who do not register in advance will be accommodated on a first-come, first-serve basis. To learn more about the EQS Sedan, please visit www.mbusa.com.
Local Test Drive Schedule:
About Mercedes-Benz USA
Mercedes-Benz USA (MBUSA), headquartered in Atlanta, is responsible for the distribution, marketing and customer service for all Mercedes-Benz products in the United States. MBUSA offers drivers the most diverse lineup in the luxury segment with 15 model lines ranging from the sporty A-Class Sedan to the flagship S-Class and the Mercedes-AMG GT R. MBUSA is also responsible for Mercedes-Benz Vans in the U.S. More information on MBUSA and its products can be found at www.mbusa.com and www.mbvans.com.
Accredited journalists can visit our media site at www.media.mbusa.com.
News Media Contact:
Lindsay Munson, Mercedes-Benz USA
201-573-2238
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. (“ENN Natural Gas”).
Under the SPA, ENN LNG has agreed to purchase approximately 0.9 million tonnes per annum of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 13 years beginning in July 2022. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee. ENN Natural Gas is acting as guarantor of the SPA.
“We are pleased to announce this long-term LNG contract with ENN, a major player in China’s rapidly growing natural gas market, and we look forward to a successful, long-term relationship with ENN as a customer,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA underscores the strength of the global LNG market today, particularly in China, and highlights Cheniere’s role as a leading global LNG supplier, tailoring solutions to help meet the long-term energy needs and environmental goals of our customers. The SPA also further advances Cheniere’s commercial momentum and marks another milestone in our efforts to contract our LNG capacity on a long-term basis in anticipation of an FID of Corpus Christi Stage 3, which we expect will occur next year.”
Wang Yusuo, Chairman of the Board of ENN Natural Gas said, “China is making great efforts to achieve the goal of peak carbon emissions and carbon neutrality, boosting the reform of the natural gas market, and accelerating the structural adjustment of energy consumption. As one of the world’s leading LNG suppliers, Cheniere has great advantages on resource production and supply capacity, which is highly compatible with the fast-growing natural gas market in China. ENN is accelerating the usage of digital technology to build a modern energy system, and to promote intelligent upgrading of the natural gas industry. It is expected that the two parties will seize the opportunity of this cooperation to establish a strategic relationship, to provide clients with high quality resources and services, and to make positive efforts to the realization of peak carbon emissions and carbon neutrality in China.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission.
About ENN Natural Gas
As one of the largest private energy companies in China, ENN Natural Gas’ business layout covers the entire natural gas industry including distribution, trade, storage & transportation, production and construction. As of 30 June 2021, through its subsidiary, ENN Energy Holdings Limited, one of the largest natural gas distribution companies in China, ENN Natural Gas owns 239 city-gas projects in China, with a connectable population of 117 million. ENN Natural Gas operates the Zhoushan LNG regasification facility in Zhejiang Province, China. During 1H 2021, ENN Natural Gas’s total natural gas sales volume was 17.5 bcm, accounting for 9.6% of China’s total consumption.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings 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 or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Media Relations
Eben Burnham-Snyder, 713-375-5764
Regular Monthly Meeting Scheduled October 26, 2021
HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority will hold a Special Meeting on Tuesday, October 12, 2021, at 10:00 a.m. It is a hybrid meeting. The Commissioners, executive leadership, and legal counsel will be present in the boardroom of the Port Authority Executive Office Building, located at 111 East Loop North, Houston, TX 77029.
The meeting is open to the public to attend. However, the meeting can also be accessed virtually via WebEx webinar. The agenda and the instructions to access Port Houston public meetings are available at https://porthouston.com/leadership/public-meetings/.
Please note the following upcoming planned Port Houston public hybrid meetings: (subject to change)
October 26: |
Regular Monthly Meeting - 9:00 a.m. |
November 18: |
Budget Workshop – 9:00 a.m. |
December 7: |
Port Commission Regular meeting – 9:00 a.m. |
Sign up for public comment is available up to an hour before these Port Commission meetings by contacting Erik Eriksson at This email address is being protected from spambots. You need JavaScript enabled to view it. or Liana Christian at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel – the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. nation. The more than 200 private and eight public terminals along the federal waterway supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6% of Texas’ total gross domestic product (GDP) – and a total of $801.9 billion in economic impact across the nation. For more information, visit the website: https://porthouston.com/
Lisa Ashley, Director, Media Relations, Port Houston
Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Gas Meter Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global gas meter market was valued at $5.8 billion in 2020, and is projected to reach $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.
Companies Mentioned
A gas meter is a flow meter, which is used to measure the fuel volume such as natural gas or liquid petroleum gas. A gas meter consists of four measurement chambers, which are separated by diaphragm. It is necessary to ensure adequate gas pressure from the main supply of natural or liquefied petroleum gas. Gas meters are widely used in various commercial places as well as large residential areas for measuring the volumetric flow rate and monthly energy bills.
Rapid industrialization has led to increase in usage of natural gas in various emerging economies with large population pool. The installation of gas meters helps in reducing the wastage of gas during transmission and distribution. Moreover, the mandatory installation of smart meters in households and commercial areas is expected to boost the market growth. In addition, increase in demand for efficient energy technologies such as implementation of IOT (internet of things) will further drive the demand for various smart meters. The implementation of IOT (internet of things) simplifies the process meter reading, and it provides web interface between consumers and service providers. In addition, replacement of old conventional meters with new smart meters will further escalate the market growth. For instance, the Government of India is planning to replace 250 million conventional meters into smart meters by 2022.
The high capital investment and integration of complex technologies are the major challenges during the initial phase. Moreover, the maintenance of gas meters is capital intensive, which makes the application limited for small residential areas.
Nonetheless, favorable government policies and rebate schemes from industry players on installation of gas meters are expected to provide new growth opportunities in the market.
The global gas meter market is segmented on the basis of product type and end user. On the basis of product type, it is divided into traditional gas meter and smart gas meter. By end user, the market is classified into residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COVID-19 Scenario Analysis
Key Benefits
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the global Gas Meter market
3.3. Market dynamics
3.3.1. Drivers
3.3.2. Restraint
3.3.3. Opportunities
3.4. Impact of government regulations on the global Gas Meter market
3.5. Patent analysis
3.5.1. By countries, 2012-2020
3.6. Impact of COVID-19 outbreak on the Gas Meter market
CHAPTER 4: GLOBAL GAS METER MARKET, BY PRODUCT TYPE
CHAPTER 5: GLOBAL GAS METER MARKET, BY END-USER
CHAPTER 6: GAS METER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/dzlc7j
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
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (“Chevron”, NYSE: CVX) today announced the pricing terms of its previously announced 23 separate offers (the “Offers”) to purchase for cash up to $2.0 billion aggregate principal amount of outstanding notes of the series listed in the table below (collectively, the “Notes”). The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 4, 2021 relating to the Notes (the “Offer to Purchase”) and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”) and, as applicable, the letter of transmittal (together with the Offer to Purchase and Notice of Guaranteed Delivery, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.
Set forth in the table below is the applicable Total Consideration (as defined in the Offer to Purchase) for each series of Notes, as calculated at 2:00 p.m. (Eastern time) today, October 8, 2021, in accordance with the Offer to Purchase.
Acceptance
|
Title of Security |
Issuer |
CUSIP/ISIN |
Par Call Date(2) |
Maturity Date |
Principal
|
Reference
|
Reference
|
Fixed
|
Total
|
||||||||||
1 |
7.250% Senior Debentures Due 2097 |
Noble Energy, Inc. |
655044AS4/ US655044AS49 |
NA |
August 1, 2097 |
$84 |
2.375% due 5/15/2051 |
2.151% |
170 |
$1,833.56 |
||||||||||
2 |
5.250% Notes due 2043 |
Chevron U.S.A. Inc. |
166756AU0/ US166756AU09 |
May 15, 2043 |
November 15, 2043 |
$996 |
1.750% due 08/15/2041 |
2.105% |
82 |
$1,370.22 |
||||||||||
3 |
5.250% Notes due 2043 |
Noble Energy, Inc. |
655044AG0/ US655044AG01 |
May 15, 2043 |
November 15, 2043 |
$4 |
1.750% due 08/15/2041 |
2.105% |
82 |
$1,370.22 |
||||||||||
4 |
6.000% Notes due 2041 |
Chevron U.S.A. Inc. |
166756AT3 /US166756AT36 |
September 1, 2040 |
March 1, 2041 |
$839 |
1.750% due 08/15/2041 |
2.105% |
67 |
$1,471.53 |
||||||||||
5 |
6.000% Notes due 2041 |
Noble Energy, Inc. |
655044AE5 /US655044AE52 |
September 1, 2040 |
March 1, 2041 |
$11 |
1.750% due 08/15/2041 |
2.105% |
67 |
$1,471.53 |
||||||||||
6 |
5.050% Notes due 2044 |
Chevron U.S.A. Inc. |
166756AV8 /US166756AV81 |
May 15, 2044 |
November 15, 2044 |
$845 |
1.750% due 08/15/2041 |
2.105% |
85 |
$1,343.50 |
||||||||||
7 |
5.050% Notes due 2044 |
Noble Energy, Inc. |
655044AJ4 /US655044AJ40 |
May 15, 2044 |
November 15, 2044 |
$5 |
1.750% due 08/15/2041 |
2.105% |
85 |
$1,343.50 |
||||||||||
8 |
4.950% Notes due 2047 |
Chevron U.S.A. Inc. |
166756AW6 /US166756AW64 |
February 15, 2047 |
August 15, 2047 |
$495 |
2.375% due 5/15/2051 |
2.151% |
75 |
$1,365.85 |
||||||||||
9 |
4.950% Notes due 2047 |
Noble Energy, Inc. |
655044AN5 /US655044AN51 |
February 15, 2047 |
August 15, 2047 |
$5 |
2.375% due 5/15/2051 |
2.151% |
75 |
$1,365.85 |
||||||||||
10 |
7.840% Medium-Term Notes, Series 1992 due 2033 |
Texaco Capital Inc. |
88168LCV6 /US88168LCV62 |
NA |
February 15, 2033 |
$10 |
1.250% due 8/15/2031 |
1.598% |
93 |
$1,521.00 |
||||||||||
11 |
8.000% Debentures due 2032 |
Texaco Capital Inc. |
881685BB6 /US881685BB68 |
NA |
August 1, 2032 |
$75 |
1.250% due 8/15/2031 |
1.598% |
90 |
$1,518.05 |
||||||||||
12 |
2.978% Notes Due 2040 |
Chevron Corporation |
166764BZ2 /US166764BZ29 |
November 11, 2039 |
May 11, 2040 |
$500 |
1.750% due 08/15/2041 |
2.105% |
60 |
$1,038.82 |
||||||||||
13 |
8.625% Debentures due 2032 |
Texaco Capital Inc. |
881685AY7 /US881685AY70 |
NA |
April 1, 2032 |
$147 |
1.250% due 8/15/2031 |
1.598% |
90 |
$1,561.36 |
||||||||||
14 |
8.625% Debentures due 2031 |
Texaco Capital Inc. |
881685AX9 /US881685AX97 |
NA |
November 15, 2031 |
$108 |
1.250% due 8/15/2031 |
1.598% |
85 |
$1,549.33 |
||||||||||
15 |
4.200% Notes due 2049 |
Chevron U.S.A. Inc. |
166756AX4 /US166756AX48 |
April 15, 2049 |
October 15, 2049 |
$474 |
2.375% due 5/15/2051 |
2.151% |
75 |
$1,245.02 |
||||||||||
16 |
4.200% Notes due 2049 |
Noble Energy, Inc. |
655044AR6 /US655044AR65 |
April 15, 2049 |
October 15, 2049 |
$26 |
2.375% due 5/15/2051 |
2.151% |
75 |
$1,245.02 |
||||||||||
17 |
7.250% Notes due 2023 |
Chevron U.S.A. Inc. |
166756AM8 /US166756AM82 |
NA |
October 15, 2023 |
$90 |
0.250% due 09/30/2023 |
0.320% |
18 |
$1,134.72 |
||||||||||
18 |
7.250% Notes due 2023 |
Noble Energy, Inc. |
654894AE4 /US654894AE49 |
NA |
October 15, 2023 |
$10 |
0.250% due 09/30/2023 |
0.320% |
18 |
$1,134.72 |
||||||||||
19 |
3.191% Notes Due 2023 |
Chevron Corporation |
166764AH3 /US166764AH30 |
March 24, 2023 |
June 24, 2023 |
$2,250 |
0.250% due 09/30/2023 |
0.320% |
-2 |
$1,041.80 |
||||||||||
20 |
2.566% Notes Due 2023 |
Chevron Corporation |
166764BK5 /US166764BK59 |
March 16, 2023 |
May 16, 2023 |
$750 |
0.250% due 09/30/2023 |
0.320% |
-2 |
$1,032.26 |
||||||||||
21 |
3.900% Notes due 2024 |
Chevron U.S.A. Inc. |
166756AP1 /US166756AP14 |
August 15, 2024 |
November 15, 2024 |
$625 |
0.375% due 09/15/2024 |
0.577% |
5 |
$1,092.04 |
||||||||||
22 |
3.900% Notes due 2024 |
Noble Energy, Inc. |
655044AH8 /US655044AH83 |
August 15, 2024 |
November 15, 2024 |
$25 |
0.375% due 09/15/2024 |
0.577% |
5 |
$1,092.04 |
||||||||||
23 |
2.895% Notes Due 2024 |
Chevron Corporation |
166764BT6 /US166764BT68 |
January 3, 2024 |
March 3, 2024 |
$1,000 |
0.375% due 09/15/2024 |
0.577% |
-8 |
$1,053.00 |
(1) |
Subject to the satisfaction or waiver of the conditions of the Offers described in the Offer to Purchase, if the Maximum Purchase Condition (as defined below) is not satisfied with respect to every series of Notes, Chevron will accept Notes for purchase in the order of their respective Acceptance Priority Level specified in the table above (with 1 being the highest Acceptance Priority Level and 23 being the lowest Acceptance Priority Level). It is possible that a series of Notes with a particular Acceptance Priority Level will not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase. |
|
(2) |
For each series of Notes in respect of which a par call date is indicated, the calculation of the applicable Total Consideration has been performed taking into account such par call date. |
|
(3) |
The Total Consideration for each series of Notes (such consideration, the “Total Consideration”) payable per each $1,000 principal amount of such series of Notes validly tendered for purchase has been based on the fixed spread specified in the table above (the “Fixed Spread”) for such series of Notes, plus the yield of the specified Reference U.S. Treasury Security for that series as quoted on the Bloomberg reference page “FIT1” as of 2:00 p.m. (Eastern time) on October 8, 2021. See “Description of the Offers—Determination of the Total Consideration.” The Total Consideration does not include the applicable Accrued Coupon Payment as defined below), which will be payable in cash in addition to the applicable Total Consideration. |
The Offers will each expire at 5:00 p.m. (Eastern time) on October 8, 2021, unless extended or earlier terminated (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Expiration Date”). Notes may be validly withdrawn at any time at or prior to 5:00 p.m. (Eastern time) on the Expiration Date, unless extended, but not thereafter, unless extended by Chevron.
For Holders who deliver a Notice of Guaranteed Delivery and all other required documentation at or prior to the Expiration Date, upon the terms and subject to the conditions set forth in the Tender Offer Documents, the deadline to validly tender Notes using the Guaranteed Delivery Procedures will be the second business day after the Expiration Date and is expected to be 5:00 p.m. (Eastern time) on October 13, 2021 (the “Guaranteed Delivery Date”).
The Initial Settlement Date will be the first business day after the Expiration Date and is expected to be October 12, 2021. The Guaranteed Delivery Settlement Date will be the first business day after the Guaranteed Delivery Date and is expected to be October 14, 2021. Each of the Initial Settlement Date and the Guaranteed Delivery Settlement Date is herein referred to as a “Settlement Date.”
Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders whose Notes are accepted for purchase in the Offers will receive the applicable Total Consideration for each $1,000 principal amount of such Notes in cash on the applicable Settlement Date.
In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will receive a cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Initial Settlement Date (the “Accrued Coupon Payment”). Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers and Holders whose Notes are tendered pursuant to the Guaranteed Delivery Procedures and are accepted for purchase will not receive payment of any interest for the period from and including the Initial Settlement Date.
GENERAL
This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers are being made solely pursuant to the Offer to Purchase. The Offers are not being made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
No action has been or will be taken in any jurisdiction that would permit the possession, circulation or distribution of either this announcement, the Offer to Purchase or any material relating to us or the Notes in any jurisdiction where action for that purpose is required. Accordingly, neither this announcement, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from any such country or jurisdiction, except in compliance with any applicable rules or regulations of any such country or jurisdiction.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements that are based on management's current expectations, estimates and projections. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results and future prospects or that could cause events or circumstances to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries (OPEC) and other producing countries; public health crises, such as pandemics) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which we operate; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; our ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of our suppliers, vendors, partners and equity affiliates; the inability or failure of our joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of our operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond our control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; our future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; our ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission.
Sean Comey -- +1-925-842-5509
Discussing how utilities can embrace change and leverage satellite analytics and AI to decrease costs, improve reliability metrics, and increase safety for team members and consumers
SANTA CLARA, Calif.--(BUSINESS WIRE)--AiDash will speak on the importance of critical data insights for utilities of all sizes at Utility Analytics Institute’s UA Week conference in Dallas, Texas. The conference takes place Oct. 1315, 2021.
AiDash’s senior manager of customer success, Jordan Jozak, will be joined by United Power’s vegetation management and construction project specialist, Holly Woodings. They will deliver a talk entitled “AiDash: Transforming United Power's Vegetation Management with Satellite Technology,” on Friday, October 15, at 9:45 AM (CT). In this session, they will discuss how United Power has used AiDash Intelligent Vegetation Management System (IVMS) to better plan their vegetation management (VM) activities, increase reliability and decrease VM costs.
AiDash IVMS combines high-resolution, multispectral satellite images with on-ground reports to provide increased visibility on the overgrowth of vegetation around transmission and distribution grids. AiDash’s platform pulls critical operations and maintenance data points into one centralized system. Its proprietary AI models identify and leverage crucial data points such as tree growth rates, historic weather data, and the location of transmission and distribution lines to help utilities optimize their vegetation management programs.
“It’s important for the utility industry to embrace change. Leveraging satellite technology, AI, and data to optimize our vegetation management program, save money, and strengthen our wildfire mitigation plans with AiDash’s platform is all part of United Power’s plan to look toward the future. It’s one more key point to stay ahead of the game. And it’s important for utilities, regardless of their size, to be able to embrace technology,” said Woodings.
To learn more about the conference and other speakers, access the full agenda here: https://www.utilityanalyticsweek.com/uaweek/inperson_agenda
About AiDash
AiDash is an AI-first vertical SaaS company enabling satellite and AI powered operations, maintenance and sustainability for industries with geographically distributed assets. AiDash uses high-resolution multispectral and SAR data from the world’s leading satellite constellations that are fed into its proprietary AI models to make timely predictions at scale. These AI models empower AiDash’s full-stack applications that transform O&M for utility, energy, transportation, water and wastewater, mining and construction companies. Visit aidash.com.
About United Power
United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. The cooperative is one of the fastest-growing electric cooperatives in the nation, and in June joined the elite ranks of cooperatives serving more than 100,000 meters. The 900 square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. For more information about the cooperative, visit www.unitedpower.com or follow them on social media Facebook, Twitter, LinkedIn, YouTube and Instagram.
About Utility Analytics Institute
Utility Analytics Institute enables utility transformation through analytics. Transforming into a data decision-based company is one of the most difficult transitions a utility will have to make to thrive in the new energy economy. It’s more than just managing massive amounts of data, implementing the right tools and technology, and people and process management. It’s ensuring you have proper change management processes in place to address cultural challenges, as well as data management and governance plans, and best practice and compliant security strategies in place. It’s implementing the best organizational structure for your utility, and hiring and retaining talented staff, plus so much more! UAI brings together the leading utilities who are serious about tackling these challenges and together we concentrate on utility analytics. Visit utilityanalytics.com.
Bradley Smith
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408-703-1099
Chairman credits the Port’s People and Partners for Historic Success
HOUSTON--(BUSINESS WIRE)--On Thursday, Port Houston Chairman Ric Campo delivered the 2021 State of the Port address to a sold-out audience, which observed COVID-19 protocols at the Greater Houston Partnership's first in-person event since the start of the pandemic.
"The state of the Port is amazing," Chairman Campo declared. His address emphasized the extraordinary efforts of people and partnerships working together through extraordinary times.
"Lead, follow, or get out of the way – that's how Houston gets it done," said the Chairman, as he echoed others' sentiments regarding the remarkable acceleration of the billion-dollar expansion and widening of the Houston Ship Channel.
"This is the fastest a project of this magnitude has ever moved in America, and it's because of the people and partners who are getting it done, by working and doing the heavy lifting together," he said of the waterway expansion and deepening effort called Project 11.
Ranked as the #1 busiest port in the nation and known as the "Energy Capital of the World," the Port of Houston's success can be attributed to a diversity of cargoes and balance of imports and exports, Chairman Campo said.
“Ultimately, however, people make the difference in the success of the Port of Houston,” he said as he saluted the continued commitment of the Port's people, partners, and channel users.
In his remarks, he spoke of the remarkable spirit of collaboration and cooperation, people working together on the frontlines and behind the scenes under extraordinary circumstances to ensure the continued successful delivery of cargo, product, and supplies, and of helping to sustain a vital source of economic activity and jobs for the region, state of Texas, and the nation.
However, Chairman Campo acknowledged that Port Houston public facilities are not immune to pandemic-induced strains on the global supply chain, but Port Houston staff and partners continue to work to keep freight moving to handle the historic surge in import container cargo.
Looking to the future and Port Houston's commitment to reinvestment, Chairman Campo further highlighted the progress of the channel expansion and deepening program, adding that he looks forward to Port Commission consideration next week of the first Project 11 dredging contract. He shared that Port Houston fully expects the winning proposal to balance environmental, economic, and social issues in the best way for the entire community.
The Chairman also spotlighted Port Houston's 100% renewable asset-backed electricity program, the first such program by a seaport in the United States. Efforts like this and others have resulted in a transformative 55% reduction in the carbon emissions footprint of Port Houston's public terminals.
Chairman Campo proudly underscored the Port Commission's adoption of a Diversity, Equity, Inclusion (DEI) Statement and Business Equity Program, expanding on Port Houston's successful Small Business Development Program to target minority and women-owned business enterprises participating in procurement and contracting processes. "Building capacity is also about diversity," he said. "If we do well, our community should do well too."
Chairman Campo's profound message stressed Port Houston's responsibility for creating a long-term legacy of economic impact, by creating jobs and investing in infrastructure to ensure competitive opportunities for the region and state of Texas and the nation.
"Ultimately, it's about taking care of people working every day, making sure they have the support and resources to feed their families," Chairman Campo said.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.
Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage, Medium Voltage), Application (Pump, Fan, Compressor, Propeller (With Shaft Generator, Without Shaft Generator), Crane & Hoist), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The marine VFD market is projected to reach USD 1,075 million by 2026 from an estimated USD 804 million in 2021, at a CAGR of 6.0% during the forecast period.
There is increasing demand for more efficient systems which can save wastage of energy and help to reduce the emission from the maritime sector. Also, there is a shift towards electric and hybrid systems to reduce dependency on fossil fuel and for more clean power. Apart from these there is adoption of IoT across all the sectors including shipping sector. Thus, the marine VFD market is gaining momentum, and there exists a lot of untapped potential in this market.
The compressor segment is expected to grow at the highest CAGR from 2021 to 2026.
Based on the application of marine VFD systems, the compressor segment is estimated to be the fastest-growing market from 2019 to 2026. A compressor is a multipurpose device used in various applications, ranging from the cleaning of filters to starting the main or secondary engines of a ship. Compressors are also used to run the propellers in a ship.
Medium voltage VFD is expected to emerging market by voltage
VFDs with a voltage of more than 1000 V are considered under the medium voltage segment. The use of these drives helps in improving efficiency, thereby reducing the overall operating costs. These VFDs are generally used for critical applications and main components of the system installed on a ship. Recently introduced hybrid engines in the shipping industry have boosted the demand for medium-voltage VFDs, and this segment is expected to witness strong growth during the forecast period.
Asia Pacific: The largest marine VFD market
Asia Pacific accounted for the largest share of 51.1% of the marine VFD market amongst all regions in 2020. Asia is a major maritime transport player - not only as a consumer of marine transport services and a major maritime hub but also as a producer of such services. The region has been segmented by country into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. The continuous significance of Asia as a manufacturing hub has boosted the intra-Asian container trade boom, with South-East Asia playing an increasingly important role. Moreover, in the past few years, this region has witnessed rapid economic development as well as growth in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/e2s86r
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE: TDW) (the “Company”) today announced that it intends to commence an offering of USD denominated 5-year senior secured bonds, subject to market and other conditions. The Company intends to use the net proceeds from the bond issue towards refinancing of the Company’s outstanding debt and for general corporate purposes.
The bonds will be privately placed in the United States in accordance with U.S. securities laws and sold outside the United States pursuant to Regulation S under the Securities Act of 1933.
The bonds have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the bonds or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933.
About Tidewater
Tidewater owns and operates one of the largest fleets of offshore support vessels in the industry, with more than 65 years of experience supporting offshore energy exploration, production, generation and offshore wind activities worldwide.
Forward-Looking Statements
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater notes that certain statements set forth in this press release contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact. All such forward-looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations could differ materially from our historical results or current expectations reflected by such forward-looking statements. Investors should carefully consider the risk factors described in detail in the Company’s most recent Form 10-K, most recent Form 10-Q, and in similar sections of other filings made by the Company with the Securities and Exchange Commission (“SEC”) from time to time. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports filed by the Company with the SEC.
Tidewater Inc.
West Gotcher
Vice President,
Finance and Investor Relations
+1.713.470.5285
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (“Chevron”, NYSE: CVX) today announced (i) the results of its previously announced 23 separate offers (the “Offers”) to purchase for cash the notes of the series listed in the table below (collectively, the “Notes”) and (ii) that it has amended the Offers by increasing the applicable Maximum Purchase Amount from $2.0 billion to $2,609,010,000. The Offers were made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 4, 2021 relating to the Notes (the “Offer to Purchase”) and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”) and, as applicable, the letter of transmittal (together with the Offer to Purchase and Notice of Guaranteed Delivery, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.
The Offers expired at 5:00 p.m. (Eastern time) on October 8, 2021 (the “Expiration Date”). The Initial Settlement Date will be the first business day after the Expiration Date and is expected to be October 12, 2021. The Guaranteed Delivery Settlement Date will be the first business day after the Guaranteed Delivery Date and is expected to be October 14, 2021.
According to information provided by D.F. King & Co, Inc., the Information Agent and Tender Agent in connection with the Offers, $4,187,829,000 combined aggregate principal amount of the Notes were validly tendered prior to or at the Expiration Date and not validly withdrawn. In addition, $28,108,000 combined aggregate principal amount of the Notes were tendered pursuant to the Guaranteed Delivery Procedures and remain subject to the Holders’ performance of the delivery requirements under such procedures. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Notes validly tendered and not validly withdrawn prior to the Expiration Date and the aggregate principal amount of Notes reflected in Notices of Guaranteed Delivery delivered at or prior to the Expiration Time pursuant to the Tender Offer Documents.
Acceptance Priority Level |
Title of Security |
Issuer |
CUSIP/ISIN |
Principal Amount Outstanding (millions) |
Total Consideration (1) |
Principal Amount Tendered(2) |
Principal Amount Accepted(2) |
Principal Amount Reflected in Notices of Guaranteed Delivery |
1 |
7.250% Senior Debentures Due 2097 |
Noble Energy, Inc. |
655044AS4/ US655044AS49 |
$84 |
$1,833.56 |
$24,012,000 |
$24,012,000 |
— |
2 |
5.250% Notes due 2043 |
Chevron U.S.A. Inc. |
166756AU0/ US166756AU09 |
$996 |
$1,370.22 |
$666,797,000 |
$666,797,000 |
$1,230,000 |
3 |
5.250% Notes due 2043 |
Noble Energy, Inc. |
655044AG0/ US655044AG01 |
$4 |
$1,370.22 |
$1,310,000 |
$1,310,000 |
— |
4 |
6.000% Notes due 2041 |
Chevron U.S.A. Inc. |
166756AT3 /US166756AT36 |
$839 |
$1,471.53 |
$448,055,000 |
$448,055,000 |
$8,120,000 |
5 |
6.000% Notes due 2041 |
Noble Energy, Inc. |
655044AE5 /US655044AE52 |
$11 |
$1,471.53 |
$290,000 |
$290,000 |
— |
6 |
5.050% Notes due 2044 |
Chevron U.S.A. Inc. |
166756AV8 /US166756AV81 |
$845 |
$1,343.50 |
$621,743,000 |
$621,743,000 |
$1,003,000 |
7 |
5.050% Notes due 2044 |
Noble Energy, Inc. |
655044AJ4 /US655044AJ40 |
$5 |
$1,343.50 |
$5,060,000 |
$5,060,000 |
— |
8 |
4.950% Notes due 2047 |
Chevron U.S.A. Inc. |
166756AW6 /US166756AW64 |
$495 |
$1,365.85 |
$308,380,000 |
$308,380,000 |
$922,000 |
9 |
4.950% Notes due 2047 |
Noble Energy, Inc. |
655044AN5 /US655044AN51 |
$5 |
$1,365.85 |
$4,245,000 |
$4,245,000 |
— |
10 |
7.840% Medium-Term Notes, Series 1992 due 2033 |
Texaco Capital Inc. |
88168LCV6 /US88168LCV62 |
$10 |
$1,521.00 |
$0 |
$0 |
— |
11 |
8.000% Debentures due 2032 |
Texaco Capital Inc. |
881685BB6 /US881685BB68 |
$75 |
$1,518.05 |
$13,887,000 |
$13,887,000 |
— |
12 |
2.978% Notes Due 2040 |
Chevron Corporation |
166764BZ2 /US166764BZ29 |
$500 |
$1,038.82 |
$206,458,000 |
$206,458,000 |
$1,212,000 |
13 |
8.625% Debentures due 2032 |
Texaco Capital Inc. |
881685AY7 /US881685AY70 |
$147 |
$1,561.36 |
$25,000,000 |
$25,000,000 |
— |
14 |
8.625% Debentures due 2031 |
Texaco Capital Inc. |
881685AX9 /US881685AX97 |
$108 |
$1,549.33 |
$5,938,000 |
$5,938,000 |
$105,000 |
15 |
4.200% Notes due 2049 |
Chevron U.S.A. Inc. |
166756AX4 /US166756AX48 |
$474 |
$1,245.02 |
$257,937,000 |
$257,937,000 |
$7,306,000 |
16 |
4.200% Notes due 2049 |
Noble Energy, Inc. |
655044AR6 /US655044AR65 |
$26 |
$1,245.02 |
$0 |
$0 |
— |
17 |
7.250% Notes due 2023 |
Chevron U.S.A. Inc. |
166756AM8 /US166756AM82 |
$90 |
$1,134.72 |
$45,099,000 |
$0 |
— |
18 |
7.250% Notes due 2023 |
Noble Energy, Inc. |
654894AE4 /US654894AE49 |
$10 |
$1,134.72 |
$5,535,000 |
$0 |
— |
19 |
3.191% Notes Due 2023 |
Chevron Corporation |
166764AH3 /US166764AH30 |
$2,250 |
$1,041.80 |
$731,881,000 |
$0 |
$2,473,000 |
20 |
2.566% Notes Due 2023 |
Chevron Corporation |
166764BK5 /US166764BK59 |
$750 |
$1,032.26 |
$177,355,000 |
$0 |
$751,000 |
21 |
3.900% Notes due 2024 |
Chevron U.S.A. Inc. |
166756AP1 /US166756AP14 |
$625 |
$1,092.04 |
$259,316,000 |
$0 |
$2,294,000 |
22 |
3.900% Notes due 2024 |
Noble Energy, Inc. |
655044AH8 /US655044AH83 |
$25 |
$1,092.04 |
$16,766,000 |
$0 |
— |
23 |
2.895% Notes Due 2024 |
Chevron Corporation |
166764BT6 /US166764BT68 |
$1,000 |
$1,053.00 |
$362,765,000 |
$0 |
$2,692,000 |
________________________________ |
||
(1) |
|
The Total Consideration for each series of Notes (such consideration, the “Total Consideration”) payable per each $1,000 principal amount of such series of Notes validly tendered for purchase. |
(2) |
|
The amounts exclude the principal amounts of Notes for which Holders have complied with certain procedures applicable to guaranteed delivery pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase). Such amounts remain subject to the Guaranteed Delivery Procedures. Notes tendered pursuant to the Guaranteed Delivery Procedures are required to be tendered at or prior to 5:00 p.m., New York City time, on October 13, 2021. |
Overall, $2,589,112,000 principal amount of Notes have been accepted for purchase. The amounts in the foregoing sentence also exclude Notes delivered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase). The Maximum Purchase Condition (after giving effect to the increase described above) has been satisfied with respect to the Offers in respect of the series of Notes with Acceptance Priority Levels of 1-16. Accordingly, all Notes of those series that have been validly tendered and not validly withdrawn at or prior to the Expiration Time have been accepted for purchase. Because the Maximum Purchase Condition was not satisfied with respect to the series of Notes with Acceptance Priority Levels lower than 16, Chevron has not accepted any Notes of such series (as indicated in the table above) and will promptly return all validly tendered Notes of such series to the respective tendering Holders.
Upon the terms and subject to the conditions set forth in the Tender Offer Documents, Holders whose Notes have been accepted for purchase by us, will receive the applicable Total Consideration specified in the table above for each $1,000 principal amount of Notes, as applicable, which will be payable in cash. In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will be paid the Accrued Coupon Payment. Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers, including those tendered through the Guaranteed Delivery Procedures.
Chevron retained J.P. Morgan Securities LLC and Barclays Capital Inc. to act as the lead dealer managers for the Offers and BNP Paribas Securities Corp., Standard Chartered Bank, and SG Americas Securities, LLC to act as co-dealer managers of the Offers. Questions regarding the terms and conditions for the Offers should be directed to J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-3424 (collect) or Barclays at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).
D.F. King & Co, Inc. acted as the Tender Agent and the Information Agent for the Offers. Questions or requests for assistance related to the Offers or for additional copies of the Offer to Purchase may be directed to D.F. King & Co, Inc. at (866) 796-7184 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Tender Offer Documents can be accessed at the following link: http://www.dfking.com/chevron.
The tender offers are subject to the satisfaction of certain conditions. If any of the conditions is not satisfied, Chevron is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event subject to applicable laws, and may terminate or alter any or all of the Offers.
GENERAL
This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers were made solely pursuant to the Offer to Purchase. The Offers were not made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
No action has been or will be taken in any jurisdiction that would permit the possession, circulation or distribution of either this announcement, the Offer to Purchase or any material relating to us or the Notes in any jurisdiction where action for that purpose is required. Accordingly, neither this announcement, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from any such country or jurisdiction, except in compliance with any applicable rules or regulations of any such country or jurisdiction.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements that are based on management's current expectations, estimates and projections. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires,” and similar expressions are intended to identify such forward-looking statements. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results and future prospects or that could cause events or circumstances to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries (OPEC) and other producing countries; public health crises, such as pandemics) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which we operate; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; our ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of our suppliers, vendors, partners and equity affiliates; the inability or failure of our joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of our operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond our control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; our future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; our ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission.
Sean Comey -- +1 925-842-5509
DUBLIN--(BUSINESS WIRE)--The "Wind Turbine Maintenance, Repair and Overhaul (MRO) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global wind turbine maintenance, repair and overhaul (MRO) market is expected to reach value USD 200.81 billion in 2026, from USD 81.80 billion in 2020, registering growth at a CAGR of 15.86% during the forecast period 2020-2025.
Companies Mentioned
Key Market Trends
Rising Deployment of Deep Water Offshore Wind Turbine Is Expected To Drive The Market
Asia-Pacific to Grow at the Fastest Rate
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Global Renewable Energy Mix, 2018
4.3 Wind Power Installed Capacity and Forecast in GW, till 2026
4.4 Market Size and Demand Forecast in USD billion, till 2026
4.5 Global Average Size of Wind Turbine in MW, 2018-2026
4.6 Recent Trends and Developments
4.7 Government Policies and Regulations
4.8 Market Dynamics
4.8.1 Drivers
4.8.2 Restraints
4.9 Supply Chain Analysis
4.10 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Location of Deployment
5.2 Service Type
5.3 Component
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/eyli96
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
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Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.