EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today held its Virtual 2021 Annual Meeting of Shareholders.
“2020 was a year filled with innovation and accomplishment, flexibility and determination, as well as with uncertainty and challenge as we navigated the ongoing pandemic,” said Steven V. Abramson, Universal Display's President and Chief Executive Officer. “Last year, we announced long-term agreements with China Star Optoelectronics, achieved record quarterly revenue in the fourth quarter of 2020, celebrated the 20-year anniversary of our strategic partnership with PPG, and established OVJP Corporation to advance the commercialization of our novel and groundbreaking OLED TV manufacturing technology. Due to the tremendous and commendable agility and focus of everyone at UDC in 2020, we secured every customer shipment, strengthened our first-mover advantage in the OLED ecosystem, and positioned the Company to emerge stronger when this global crisis ends.”
Abramson continued, “As we look to 2021, we expect to see meaningful revenue and OLED market growth, and are continuing to invest in our people, infrastructure and innovation to further support our stakeholders and the OLED industry. Year-to-date, we signed new extended long-term agreements with LG Display and Visionox, announced that UDC Ireland Limited and PPG are jointly establishing a new manufacturing site in Shannon, Ireland, that will be designed to double the production capacity and diversify the manufacturing base for UDC’s phosphorescent emitters, celebrated our 25th year as a NASDAQ-listed company with the opening bell ceremony on April 12th, and we were named to Financial Times’ The Americas’ Fastest-Growing Companies 2021 list.”
During the annual meeting, shareholders voted on the three proposals described in the Company’s proxy statement for the meeting. The shareholders re-elected all nine nominees for the Company’s Board of Directors, approved a non-binding, advisory resolution on compensation of the Company’s named executive officers, and ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for 2021.
The virtual annual meeting was broadcasted over the Internet. An online archive of the meeting will be available on the events page of the Company's Investor Relations website at ir.oled.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
Follow Universal Display Corporation
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Universal Display Contact:
Darice Liu
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+1 609-964-5123
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has commenced an underwritten public offering of 5,000,000 shares of its common stock (the “Offering”). The Company intends to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
The Company intends to use the net proceeds from the Offering and, to the extent necessary, cash on hand and/or borrowings under its revolving credit facility to fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated oil and gas properties and interests located in the Permian Basin (the “Permian Acquisition”). Pending the use of proceeds as described above, the Company may temporarily apply a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility. The consummation of the Offering is not conditioned upon the completion of the Permian Acquisition and the consummation of the Offering is not a condition to the completion of the Permian Acquisition. If the Permian Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the repayment of outstanding indebtedness.
Wells Fargo Securities is acting as lead book-running manager for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or emailing a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the Company’s plans to issue the common stock and the anticipated use of the net proceeds from the Offering. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: the effects of the COVID-19 pandemic and related economic slowdowns; changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; infrastructure constraints and related factors affecting the Company’s properties; ongoing legal disputes over and potential shutdown of the Dakota Access Pipeline; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Permian Acquisition; the Company’s ability to consummate the Permian Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Permian Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; and financial or political instability, health related epidemics, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products and prices. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward-looking statements.
The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. You are urged not to place undue reliance on these forward‑looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, the Company does not undertake, and specifically disclaims, any obligation to update any forward‑looking statements to reflect events or circumstances occurring after the date of such statements.
Mike Kelly, CFA
Chief Strategy Officer
952-476-9800
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PG&E Is Notifying Customers Who Might Be Affected This Afternoon; Outages Could Begin Around 7 p.m.
Outages Could Affect Up to Approximately 121,000 Customers in Rotations of About One to Two Hours; Need for Conservation Remains High
PG&E is Not Calling a Public Safety Power Shutoff
SAN FRANCISCO--(BUSINESS WIRE)--The state’s grid operator issued a Grid Warning this afternoon indicating that some Pacific Gas and Electric Company (PG&E) customers might face rotating outages between 7 p.m. and 9 p.m. this evening, for a period of about one to two hours.
The California Independent System Operator (CAISO), which oversees the larger power grid and balances energy demand with supply, says that the demand for electricity this afternoon and evening, mostly from air conditioners in use due to the triple-digit heat, could exceed the available supply. To be clear, CAISO has not called for rotating outages at this time.
If demand exceeds supply, at the direction of the state’s grid operator, PG&E and other energy companies in the state could be asked to turn off power in order to help prevent larger outages to the grid.
If the CAISO indicates that power needs to be turned off, power could be out for about one to two hours for each block. Up to approximately 121,000 PG&E customers could be impacted. Visit www.pge.com/rotatingoutages to see if your neighborhood might be affected.
In light of the grid operator’s warning, utilities urge Californians to continue to conserve power until 10 p.m. tonight to reduce power use as supplies continue to run tight during the peak period. The grid operator issued a Flex Alert, which asks for voluntary conservation, for 5 p.m. to 10 p.m. today, and for the same time period on Friday.
Rotating outages are not Public Safety Power Shutoffs, which are conducted during specific high fire-threat conditions.
PG&E is notifying customers who might experience these potential rotating outages, which would occur across PG&E's service area.
PG&E already has implemented programs with key customers to reduce power usage today but asks for more voluntary efforts by customers to reduce overall power use.
PG&E’s in-house meteorologists forecasted daytime high temperatures in the 105- to 110-degree range through the San Joaquin and Sacramento valleys, with 90s to near 100 degrees possible across inland Bay Area valleys.
Separate from potential rotating outages, high temperatures have led to heat-related outages in some locations. PG&E has hundreds of crews responding to make the needed repairs.
Energy conservation tips
Here are ways for customers to reduce energy use during the day:
And, during the critical hours of 5 p.m. to 10 p.m., consumers are asked to:
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
MIDLAND, Texas--(BUSINESS WIRE)--Colgate Energy Partners III, LLC (“Colgate”) announced today the pricing of its private placement to eligible purchasers of new 5.875% senior unsecured notes due 2029 in the aggregate principal amount of $500 million, which was increased from the originally proposed $400 million offering (the “Notes”). The notes were sold at par. The offering is expected to close on June 30, 2021, subject to customary closing conditions. Colgate intends to use the net proceeds from this offering to fund a portion of the recently announced acquisition of certain assets of Occidental in Reeves and Ward Counties (the “Occidental Acquisition”), and to pay related fees and other expenses.
The securities to be offered have not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Colgate plans to offer and sell the notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.
This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Colgate
Colgate is a privately held, independent oil and natural gas company headquartered in Midland, Texas that is engaged in the acquisition, exploration and development of oil and natural gas assets in the Delaware Basin. Pro Forma for the Occidental Acquisition, Colgate owns approximately 83,000 net acres and produces approximately 55,000 Boe/d, primarily in Reeves County, Ward County, and Eddy Counties.
Forward-Looking Statements
This communication includes statements regarding this private placement that may contain forward-looking statements within the meaning of federal securities laws. Colgate believes that its expectations and forecasts are based on reasonable assumptions; however, no assurance can be given that such expectations and forecasts will prove to be correct. A number of factors could cause actual results to differ materially from the expectations and forecasts, anticipated results or other forward-looking information expressed in this communication, including risks and uncertainties regarding future results, Colgate’s ability to complete the Occidental Acquisition, the sources of funding for any remaining portion of the purchase price for the Occidental Acquisition, capital expenditures, liquidity and financial market conditions, sufficiency of cash from operations, adverse market conditions, governmental regulations, the future actions of foreign oil producers such as Saudi Arabia and Russia and the effects of such actions on the supply of oil, and the impact of world health events such as the COVID-19 pandemic.
Michael Poynter
432-695-4222
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AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression”) today announced that its senior management will participate in the J.P. Morgan 2021 Energy, Power & Renewables Conference. Senior management expects to participate in a series of virtual meetings with members of the investment community on June 23, and presentation materials used during these meetings will be posted to USA Compression’s website prior to the investor meetings. Please visit the Investor Relations section of the website at usacompression.com under “Presentations.”
About USA Compression Partners, LP
USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.
USA Compression Partners, LP
Matthew Liuzzi, CFO
(512) 369-1624
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HOUSTON--(BUSINESS WIRE)--Representatives of Cadent Energy Partners II, L.P. (“Cadent”) have informed Cactus, Inc. (the “Company,” “Cactus,” “we,” and “our”) that Cadent will transfer units representing limited liability company interests (“CW Units”) in Cactus Wellhead, LLC, together with the same number of shares of the Company’s Class B common stock, to various Cadent-affiliated entities (the “Cadent Transfer”).
Following the Cadent Transfer, Cadent intends to redeem approximately 3.3 million CW Units in exchange for an equal number of shares of Class A common stock in the Company (the “Cadent Redemption”) and to distribute such shares of Class A common stock to its limited partners (the “Cadent Distribution”). In connection with the Cadent Redemption, 3.3 million CW Units and an equal number of shares of Class B common stock will be cancelled.
Following the Cadent Transfer, the Cadent Redemption and the Cadent Distribution, Cadent’s general partner and management group will retain ownership of approximately 1.0 million shares of our Class A and Class B common stock, representing a 1.3% voting interest in the Company.
The Company will receive no proceeds from the Cadent Transfer, the Cadent Redemption or the Cadent Distribution, and there will be no change in the combined number of voting shares of Cactus, Inc. outstanding. Following the Cadent Transfer, the Cadent Redemption and the Cadent Distribution, Cactus will have 58,035,145 shares of Class A common stock outstanding (representing 76.7% of the total voting power) and 17,665,021 shares of Class B common stock outstanding (representing 23.3% of the total voting power).
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, SCOOP/STACK, Marcellus, Utica, Haynesville, Eagle Ford and Bakken, among other areas, and in Eastern Australia.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the number of CW Units to be redeemed and distributed in the Cadent Redemption and the Cadent Distribution, the timing thereof and the number of shares of the Company’s Class A common stock and Class B common stock outstanding following the transactions represent Cactus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Cactus does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--$SPRQ #SPRQ--Spartan Acquisition Corp. II, a publicly traded special purpose acquisition company (“Spartan” or the “Company”) (NYSE: SPRQ), announced today that its registration statement on Form S-4 (File No. 333-254589) (as amended, the “Registration Statement”), relating to the previously announced business combination (the “Business Combination”) with Sunlight Financial LLC (“Sunlight” or “Sunlight Financial”), has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) and that it will commence mailing of the definitive proxy statement/prospectus relating to the Special Meeting (the “Special Meeting”) of the Company’s stockholders to be held at 11:00 a.m., Eastern time on July 8, 2021 in connection with the Business Combination. The Special Meeting will be completely virtual.
The proxy statement/prospectus is being mailed to the Company’s stockholders of record as of the close of business on June 1, 2021 (the “Record Date”). Holders of Spartan’s shares of Class A Common Stock and Class B Common Stock at the close of business on the Record Date are entitled to notice of the virtual Special Meeting and to vote at the virtual Special Meeting. Notice of the Special Meeting will be mailed on or about June 18, 2021 to stockholders of record as of the Record Date.
If the proposals at the Special Meeting are approved, Spartan anticipates that the Business Combination will close shortly thereafter, subject to the satisfaction or waiver (as applicable) of all other closing conditions.
More information about voting and attending the Special Meeting is included in the proxy statement/prospectus originally filed by Spartan with the SEC on March 22, 2021, as amended, which is available without charge on the SEC’s website at http://www.sec.gov or by directing a request to: Geoffrey Strong, Chief Executive Officer and Chairman, c/o Spartan Acquisition Corp. II, 9 West 57th Street, 43rd Floor, New York, New York 10019; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.. Spartan encourages you to read the proxy statement/prospectus carefully. The deadline for Spartan’s public stockholders to exercise their redemption rights in connection with the Business Combination is July 6, 2021 at 5:00 p.m. Eastern time.
If you have any questions or need assistance voting your shares, please e-mail our proxy solicitor, Morrow Sodali LLC, at This email address is being protected from spambots. You need JavaScript enabled to view it.; call at (800) 662-5200 (banks and brokers can call (203) 658-9400), or please visit our website at www.votesunlight.com.
Business Combination
On January 23, 2021, Sunlight entered into a business combination agreement with Spartan. The Business Combination is expected to close early in the third quarter of 2021. Upon closing of the transaction, the combined public company will be named Sunlight Financial Holdings Inc. Sunlight Financial LLC will be the new public holding company’s sole operating subsidiary and Sunlight’s existing management team will continue to lead the business. Sunlight Financial Holdings Inc. expects to be listed on NYSE and has reserved the ticker “SUNL” following completion of the Business Combination with Spartan.
About Sunlight Financial
Sunlight Financial is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
About Spartan Acquisition Corp. II
Spartan is a special purpose acquisition entity focused on the energy value chain in North America and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Spartan is sponsored by Spartan Acquisition Sponsor II LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (together with its subsidiaries, “Apollo”) (NYSE: APO). For more information, please visit www.spartanspacii.com.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements may include, but are not limited to, statements regarding the commencement of mailing of the proxy statement/prospectus, the Special Meeting and the closing of the Business Combination. These forward-looking statements are not guarantees of future performance, reflect the current views and expectations of Spartan’s management and Sunlight’s management, are based on various assumptions, whether or not identified herein, and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from expectations or results projected or implied by such forward-looking statements. Such risks and uncertainties include, among others: changes in domestic and foreign business, market, financial, political and legal conditions; the inability of Spartan and Sunlight to successfully or timely consummate the Business Combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Business Combination or that the approval of the stockholders of Spartan or equityholders of Sunlight is not obtained; failure to realize the anticipated benefits of the Business Combination; the amount of redemption requests made by Spartan’s public stockholders; the ability of Spartan or the combined company to issue equity or equity-linked securities in connection with the Business Combination or in the future; risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Spartan’s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on March 11, 2021, as amended on May 11, 2021, and Registration Statement on Form S-4 as filed with the SEC on March 22, 2021, as amended on May 12, 2021 and June 1, 2021, and other documents of Spartan filed, or to be filed, with the SEC. All forward-looking statements used herein speak only as of the date they are made and are based on information available at that time. Neither Spartan nor Sunlight assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
Important Information for Investors; Participants in Solicitation
In connection with the transactions (the “Transactions”) contemplated by that certain Business Combination Agreement, dated as of January 23, 2021, by and among Sunlight, Spartan and their subsidiaries and affiliates party thereto, Spartan has filed a Registration Statement on Form S-4, as amended (which includes a proxy statement/prospectus of Spartan) and other relevant documents with the SEC. This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. This communication also shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. In addition, nothing contained herein should be construed as legal, financial, tax or other advice. SECURITY HOLDERS OF SPARTAN AND SUNLIGHT ARE URGED TO READ (1) THE REGISTRATION STATEMENT, (2) THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO), (3) OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT WILL BE FILED WITH THE SEC BY SPARTAN, AND (4) ADDITIONAL PRESS RELEASES FROM SUNLIGHT AND SPARTAN FOUND ON THEIR RESPECTIVE WEBSITES, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS. Spartan’s and Sunlight’s stockholders can obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about Spartan, Sunlight and the Transactions, without charge, at the SEC’s website located at www.sec.gov. Spartan and its directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Spartan’s stockholders with respect to the proposed business combination and the other matters set forth in the proxy statement/prospectus. Information regarding Spartan’s directors and executive officers is available under the heading Item 10. “Directors, Executive Officers and Corporate Governance” included in its Annual Report on Form 10-K/A filed with the SEC on May 11, 2021. Information regarding the combined company’s proposed directors and executive officers after the Transactions are consummated, as well as a description of their direct and indirect interests, by security holdings or otherwise is available under the headings “Management After the Business Combination”, “The Business Combination—Interests of Certain Persons in the Business Combination” and “Beneficial Ownership of Securities” included in Spartan’s Registration Statement on Form S-4/A as filed with the SEC on June 1, 2021, and other relevant documents that may be subsequently filed with the SEC.
Sunlight Financial:
Investor Relations
Lucia Dempsey, Sunlight Financial
Garrett Edson, ICR
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888.315.0822
Public Relations
Doug Donsky / Brian Ruby, ICR
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646.677.1844
Spartan Acquisition Corp. II:
Investor Relations:
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Media:
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State’s Flex Alert Requests Voluntary Conservation from 5 to 10 p.m. Thursday
We All Can Help as a Few Simple Steps Can Reduce the Stress on the Grid
SAN FRANCISCO--(BUSINESS WIRE)--With possible record-high temperatures forecast for Thursday, June 17, the state’s grid operator has called for afternoon and evening energy conservation tomorrow throughout California as one way to make sure that the supply of power stays ahead of demand.
The Flex Alert, called by the California Independent System Operator (CAISO), has been issued for Thursday from 5 p.m. to 10 p.m. The grid operator is predicting an increase in electricity demand, primarily from air conditioning use due to the heat wave.
This statewide Flex Alert asks everyone to work together and conserve. Excessive heat warnings have been issued by the National Weather Service for many regions within PG&E’s service territory.
Saving Energy at Home
Here are five ways Pacific Gas and Electric Company (PG&E) customers can cut their power use and help keep the lights (and air conditioning) on for everyone:
Saving Energy at Your Office or Business
If you’re working in an office setting, CAISO recommends the following:
PG&E’s Demand Response programs offer incentives for business owners and residential customers who curtail their energy use during times of peak demand. PG&E has several of these programs. About 261,000 PG&E customers are enrolled in one of these Demand Response programs. PG&E’s website includes detailed information on these programs, which allow residential customers and business customers to save energy and money.
Customers can actively help by shifting energy use to morning and nighttime hours. Conservation can lower demand and reduce the duration of possible power interruptions.
PG&E’s in-house meteorologists say a strong high pressure has developed over the desert Southwest this week resulting in a warming trend that will see triple-digit heat return. Daytime maximums could top out in the 105- to 110-degree range through the San Joaquin and Sacramento valleys with 90s to near 100 degrees possible across inland Bay Area valleys.
PG&E is prepared and, based on forecasts, doesn’t anticipate any issues meeting the increased demand for power. At this point, CAISO has given no indication that it will call for rotating outages. PG&E does not project a need for a Public Safety Power Shutoff due to this weather, but conditions will be continuously monitored.
PG&E also urges customers to stay safe during this heat wave. The company funds cooling centers throughout its service area to help customers escape the heat and cool off. To find a center near you click here or call 1-877-474-3266.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
Need for Conservation Remains High
State’s Grid Operator Calls for Flex Alert from 6 p.m. to 9 p.m. Friday
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) announced that rotating power outages were not needed today to maintain electric grid stability during the extreme heat that affected much of the state, because California’s grid had adequate power supply to meet consumer demand.
After the California Independent System Operator (CAISO) issued a Grid Warning mid-afternoon, PG&E reached out to public safety partners across its service area and to about 121,000 customers telling them rotating outages were possible. The notification was intended to help those partners and customers begin to prepare.
Thanks to electricity conservation by Californians statewide in response to the CAISO’s Flex Alert, grid demand did not exceed supply despite the widespread triple-digit heat.
Hot weather is expected to continue across the state and the West for another few days. CAISO has called for another Flex Alert on Friday, from 6 p.m. to 9 p.m., asking Californians to voluntarily conserve energy.
Rotating outages are not Public Safety Power Shutoffs, which are conducted during specific high fire-threat conditions.
Visit www.pge.com/rotatingoutages for more information on how and why supply-related rotating outages might happen.
Energy conservation tips
Here are ways for customers to reduce energy use during the day:
In addition, during the critical hours of 6 p.m. to 9 p.m. on Friday, consumers are asked to:
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has priced its previously announced underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $17.50 per share (the “Offering”). The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is expected to close on June 21, 2021, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the Offering and, to the extent necessary, cash on hand and/or borrowings under its revolving credit facility to fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated oil and gas properties and interests located in the Permian Basin (the “Permian Acquisition”). Pending the use of proceeds as described above, the Company may temporarily apply a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility. The consummation of the Offering is not conditioned upon the completion of the Permian Acquisition and the consummation of the Offering is not a condition to the completion of the Permian Acquisition. If the Permian Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the repayment of outstanding indebtedness.
Wells Fargo Securities is acting as lead book-running manager for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or emailing a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the expected closing date of the Offering and the anticipated use of the net proceeds therefrom. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: the effects of the COVID-19 pandemic and related economic slowdowns; changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; infrastructure constraints and related factors affecting the Company’s properties; ongoing legal disputes over and potential shutdown of the Dakota Access Pipeline; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Permian Acquisition; the Company’s ability to consummate the Permian Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Permian Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; and financial or political instability, health related epidemics, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products and prices. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward-looking statements.
The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. You are urged not to place undue reliance on these forward‑looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, the Company does not undertake, and specifically disclaims, any obligation to update any forward‑looking statements to reflect events or circumstances occurring after the date of such statements.
Mike Kelly, CFA
Chief Strategy Officer
952-476-9800
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GUANGZHOU, China--(BUSINESS WIRE)--XPeng Inc. (“XPeng” or the “Company,” NYSE: XPEV), a leading Chinese smart electric vehicle company, today released its Xmart OS 2.6.0 through an over-the-air (OTA) upgrade, with the Valet Parking Assist (VPA) beta version and over 10 additional new and optimized autonomous driving and voice assistance functions, to P7 customers in China.
Valet Parking Assist (VPA) is XPeng’s new in-house developed automatic parking assistance function, designed for ultraslow-speed driving scenarios such as garages and parking spaces.
VPA is the first auto parking function to perform “last kilometer” automatic parking that does not rely on modifications to parking spaces. VPA is another major breakthrough in ultraslow-speed autonomous driving, reinforcing XPeng’s leading position in the smart EV sector.
VPA can perform memory-based automatic parking on the same level within up to 1,000 meters from the memorized parking space, enhancing comfort and convenience for the driver. Based on the route set by the driver, VPA will automatically drive the vehicle from beginning to end, turning automatically, avoiding pedestrians and other vehicles, bypassing other obstacles, and finally parking automatically in the parking space memorized by the system.
Having set the route in advance, the driver can turn on the VPA function when entering the area where the parking space is located. The vehicle will then locate the parking space and park automatically.
VPA can memorize up to 100 parking spaces, and is able to recognize static elements such as parking spaces, speed bumps, pillars, and parked vehicles, as well as dynamic elements such as moving vehicles and pedestrians. The function does not require modification by installing Bluetooth, LIDAR, WiFi, cameras, or any other sensors and devices, and can be used in ordinary unmodified indoor parking garages.
Through voice, images and other cues, the driver receives a dynamic view of the current driving route, target parking space, and associated actions, allowing a comprehensive understanding of the system and the parking situation.
VPA is able to handle complex parking scenarios with incoming and outgoing traffic, pedestrian shuttles, and multiple dynamic elements.
VPA is available for the XPeng P7 Premium version and the Wing edition, both of which are equipped with the XPILOT 3.0 hardware system with software services activated. Users of VPA will need to pass a driver safety test before activating it for the first time.
About XPeng
XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.
For Media Enquiries:
Marie Cheung
XPeng Inc.
Tel: +852-9750-5170 or +86-1550-7577-546
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
GENEVA--(BUSINESS WIRE)--#SHIP--The new SIG SolarCAD II solar thermal power plant, designed and installed by the Geneva-based TVP Solar and inaugurated in February this year, has proven its high performance in winter conditions.
More than 157 MWh (1.92 kWh/m²/day) of solar hot water at over 80°C were delivered to the district heat network (CAD) between January and April, i.e. 30% of the annual energy performance target of 516 MWh set between the Services Industriels de Genève (SIG) and TVP Solar.
Michel Monnard, thermal director at SIG and project instigator, is delighted: “the solar plant’s performance significantly exceeded our expectations, being remarkably efficient during the cold and poor sunshine winter period when the CAD has the most need for heat.”
The TVP solar thermal plant reached the target temperature of 80°C for 96 days of the 102 days recorded, supplying solar hot water to the CAD network (see the graph below); the other days saw intense rain or snowfall. This wintertime performance is unheard of for a flat panel solar thermal installation!
The high-vacuum flat panels capture enough diffused light to melt snow deposited on the surface and quickly reach required operating temperatures. No maintenance or cleaning was carried out on the panels during the 4 months; rain naturally cleaned the surface sufficiently to continue reaching the solar thermal production objectives.
The SIG SolarCAD II results demonstrate the pertinence of TVP Solar's vacuum panel technology for any and all existing district heating networks operating at temperatures above 70°C and wintertime heat demands.
With the winter period now over, the TVP solar thermal plant is expected to deliver over the coming months. The longer hours of sunlight and overall better weather conditions can only further boost this already impressive performance.
Media contacts
TVP Solar SA
Florent Saunier, Sales Engineer
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Tel: +41-78-217-94-48
HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE:HESM) (“Hess Midstream”) announced today that John Gatling, President and Chief Operating Officer, Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors on June 22-23, 2021 at the J.P. Morgan Energy, Power and Renewables Conference and will participate in a fireside chat on June 22 at 2:40 p.m. Eastern Time.
A presentation has been posted in the “Investors” section of the Hess Midstream website at www.hessmidstream.com.
About Hess Midstream
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
Forward-Looking Statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Generally, the words “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “believe,” “intend,” “project,” “plan,” “predict,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and current projections or expectations. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by Hess Midstream with the U.S. Securities and Exchange Commission, which are available to the public. Hess Midstream undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investors:
Jennifer Gordon
(212) 536-8244
Media:
Robert Young
(713) 496-6076
PITTSBURGH--(BUSINESS WIRE)--Wabtec Corporation (NYSE: WAB) and the Port of Kiel celebrated the installation of a sustainable shore power solution to support cruise operators. ShoreCONNECT has potential to reduce nearly all emissions from cruise ships by providing shore power, while berthing at the port.
“The installation of our ShoreCONNECT solution will advance the port’s sustainability efforts,” said Olivier Kompaore, Vice President Power Collection for Wabtec. “A large cruise ship typically burns through 30,000 liters of diesel every 8-10 hours it spends at port. ShoreCONNECT provides cruise operators a clean, alternative power source while berthing, which reduces operating costs, emissions and noise.”
The ShoreCONNECT mobile carrier system is a flexible solution that connects electrical power to vessels at port, eliminating the need to use diesel. This approach reduces fuel consumption and carbon emission drastically. It also provides an important reduction in noise and vibrations as the engines will be turned off while the vessels will be connected to ShoreCONNECT.
“The Ports of Kiel and the Port of Rostock are focused on running progressive, sustainable operations,” said Kompaore. “These ShoreCONNECT installations will position them to help address the required 40-percent reduction in CO2 emissions from ships by 2030 and support the local sulfur emission control area established in the Baltic region.”
The solution at Kiel connects one vessel to shore power with up to 16 MVA High Voltage, self-propelled, zero-emission vehicle. ShoreCONNECT is also installed Kiel’s at ferry terminal. Both conform to the ISO standard IEC 80005-1.
The system can meet the full shore-power needs of large vessels. It also enables fast handling by a single operator and features a fully automated tidal-range compensation.
About Wabtec
Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide. The company has approximately 27,000 employees located at facilities in 50 countries throughout the world. Visit Wabtec’s new website at: www.wabteccorp.com.
Raphael Hinninger
Wabtec
+33 (0)6 71 83 60 36
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NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Watts Water Technologies, Inc. (NYSE: WTS) – one of the world’s leading manufacturers and providers of plumbing, heating, and water quality products and solutions – today announced the release of its 2020 Sustainability Report, which highlights the Company’s environment, social and governance (ESG) practices and its commitment to best-in-class sustainability performance.
“After a year that challenged us in many ways, I am proud that we never wavered in our commitment to protect and sustain the world’s water supply through our diverse portfolio of water technologies and solutions. As responsible corporate citizens, we continued to make significant gains across each dimension of sustainability while maintaining focus on meeting the needs of our stakeholders,” said CEO and President Robert J. Pagano Jr. “I am deeply grateful to all of our employees around the world for their perseverance and dedication to Watts and our customers throughout the COVID-19 pandemic. They protected themselves and each other, while remaining steadfast in their commitment to supporting the long-term goals of our business.”
Key accomplishments highlighted in the report include:
To download Watts’ 2020 Sustainability Report or learn more about the Company’s ESG programs, visit www.watts.com/our-story/sustainability
About Watts Water Technologies
Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Its subsidiaries and brands offer innovative plumbing, heating, and water quality solutions for commercial, residential and industrial applications. For more information, visit www.watts.com.
Timothy M. MacPhee
Treasurer & VP - Investor Relations
1-978-689-6201
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Leaders have taken a holistic, forward-looking view of IIoT networking solutions to advance operational intelligence in heavy industry
BOULDER, Colo.--(BUSINESS WIRE)--#Cisco--A new Leaderboard report from Guidehouse Insights examines the strategy and execution of 17 industrial IoT (IIoT) networking solutions vendors, with Nokia, Sierra Wireless, Cisco, and HPE ranked as the leading market players.
The IIoT is transforming the way heavy industry works, creating more efficient, safe, and profitable operations in environments from factory floors and power plants to remote oil & gas (O&G) production sites and mines. New communications protocols, particularly for wireless connectivity, are making IIoT a more economic choice and digitalization is an accelerating trend in heavy industry. According to a new Leaderboard report from Guidehouse Insights, Nokia, Sierra Wireless, Cisco, and HPE are the leading providers of industrial IoT networking solutions.
“These market players have taken a holistic, forward-looking view of IIoT networking solutions, integrating a range of emerging and evolving wireless networking in addition to cloud-based offerings and analytics overlays targeted at heavy industry,” says Richelle Elberg, principal research analyst with Guidehouse Insights. “These companies have also differentiated themselves from the competition through widespread IIoT project experience across multiple verticals and internal or partner-provided applications such as analytics for provision of end-to-end solutions.”
Several vendors trail these leaders with solid foundations for growth and long-term success. These contenders are well-positioned to become leaders but have not yet fully executed their product launches. To succeed, they will need to differentiate themselves with unique value add applications to secure greater demand and higher market penetration.
The report, Guidehouse Insights Leaderboard: Industrial IoT Networking Solutions Vendors, assesses the competitive landscape for IIoT networking solutions providers, and how well different companies are positioned to address customer needs. This report is intended to help market participants better understand their competitors’ solution offerings, differentiation, and track record in deploying IIoT networks. The report includes profiles of 17 IIoT networking vendors and ranks them according to Strategy and Execution scores. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Guidehouse Insights Leaderboard: Industrial IoT Networking Solutions Vendors, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Pony Express Pipeline, LLC (“Pony Express”), operated by Tallgrass Energy, LP, today announced a binding open season soliciting shipper commitments for crude oil transportation utilizing expansion capacity from Pony Express’ Guernsey origin to Sterling, Colo.
Prospective shippers may review details of the open season after executing a confidentiality agreement obtained by contacting Matt Hester at This email address is being protected from spambots. You need JavaScript enabled to view it..
To learn more about Tallgrass Energy, please visit us at www.tallgrassenergy.com.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Tallgrass Energy
Investor and Financial Inquiries
Andrea Attel, 913-928-6012
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or
Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
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DUBLIN--(BUSINESS WIRE)--The "Vietnam Solar Photovoltaics Equipment Market, By DC Voltage Type (400V, 600V, 1000V & 1500V), By Installation Mode (Ground Mounted Vs Rooftop), By End User, By Module Type, By Type, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Vietnamese Solar Photovoltaics Equipment Market was valued USD9209.75 million in 2020 and is forecast to grow at CAGR of 12.09% in the next five years.
Growth in the market is anticipated on account of increasing electricity demand from industrial, commercial as well as residential end-user segments. With favorable initiatives taken in the solar sector by the Government of Vietnam, an increasing number of investors and developers are also increasing their investments in solar industry in different regions across the country.
For instance, in 2017, the government introduced FiT of USD9.35 cents/kWh, which generated interest in solar projects, majorly in the southern regions of Vietnam. In 2019, the government revised the FiT to USD6.67-10.87 cents/kWh, depending on solar power technology and region of deployment. As a result, the cumulative solar capacity of the country reached 5.5 GW in 2019 from 237 MW in 2018. The Vietnamese government is now considering moving from FiT to a competitive bidding scheme for solar projects which would increase the installed capacity and create thousands of new jobs in Vietnam.
Solar photovoltaics equipment market in Vietnam can be classified based on DC voltage, installation mode, end-user, module type, type of equipment and region. In 2020, the Vietnamese Solar Photovoltaics Equipment Market was dominated by the polycrystalline type of module due to its cheap price. However, the monocrystalline type of module is forecast to grow at the highest CAGR, owing to its high efficiency in solar systems for energy generation.
Massive boom in rooftop solar installations is the key factor to create a more stable power supply. Electricity Regulatory Authority of Vietnam has taken steps for large as well as small rooftop installations. In April 2019, Vietnam's Prime Minister issued a decision that set a new feed-in-tariff of USD83.80 per Megawatt Hour (MWh) for rooftop solar. Ground-mounted solar projects can receive USD70.90 per MWh. Throughout 2020, rooftop solar installations in Vietnam grew massively by more than 2000%, rising from a 2019 base of 378MW Peak to 9.58GW Peak, spread across almost 102,000 systems. State utility Vietnam Electricity Group (EVN) reported that rooftop solar installations totalled 2.9GW in November 2020 and 4.7GW on December 25, 2020.
According to the World Bank, there is a tremendous increase in electricity consumption in Vietnam. With a CAGR of 11% from 2016 to 2020, this consumption is expected to triple till 2030. As per the statistics published by 'enerdata', the total electricity consumption in Vietnam stood around 2,100 Kilo Watt Hour (kWh) in 2019 and this has increased on an average of 9% per year since 2010.
With this rising consumption, the average electricity price is increasing, and hence renewable energy is acting as a boon for the country's electricity requirements. Currently, there is a lot of scope for renewable energy to grow and the share of renewable energy in total energy production stands at around 25.62% in 2019. Moreover, with government's active participation to help the market grow, the solar PV equipment market is expected to continue growing significantly driven by the increasing consumption and prices of electricity in Vietnam.
Some of the major players operating
Years considered for this report:
Key Target Audience:
Report Scope:
Vietnam Solar Photovoltaic Equipment market, By Installation Mode:
Vietnam Solar Photovoltaic Equipment market, By Module Type:
Vietnam Solar Photovoltaic Equipment market, By End-User:
Vietnam Solar Photovoltaic Equipment market, By DC Voltage Type:
Vietnam Solar Photovoltaic Equipment market, By Type:
Vietnam Solar Photovoltaic Equipment market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/vt1gwn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HIGHLIGHTS
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG):
PERMIAN BASIN ACQUISITIONS
Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) announced today that it has entered into three definitive agreements to acquire non-operated interests across approximately 2,900 net acres located in the heart of Reeves County, Texas and Lea and Eddy Counties, New Mexico for a combined purchase price of $102.2 million.
May 2021 production on the assets was approximately 2,200 Boe per day (2-stream, 66% oil) and Northern expects average production of 3,700 Boe per day in the second half of 2021, assuming an August 1 closing. The estimated development plan on the properties over the next several years is expected to grow production to approximately 6,500 Boe per day, assuming current strip prices. Under this development scenario, Northern forecasts the assets to generate over $100 million of cumulative free cash flow through 2025.
The assets include 5.3 net producing wells, 5.0 net wells in process and an additional 23.1 net undrilled locations ascribed to the core zones including the Wolfcamp A, Wolfcamp B and 1st through 3rd Bone Springs. The assets are operated primarily by Mewbourne Oil Company, Colgate Energy, ConocoPhillips and EOG Resources.
The effective date for the majority of the transaction value is April 1, 2021. Northern consummated the acquisition of a portion of the assets in June and expects to close on the acquisition of the remaining assets in the third quarter of 2021. Northern estimates approximately $35 million of capital expenditures on the combined properties to be incurred in 2021, inclusive of estimated purchase price adjustments at closing of the acquisitions.
TRANSACTION FINANCING
The pending acquisition is expected to be funded through a combination of a common equity offering and, to the extent necessary, cash on hand and/or borrowings under Northern’s Senior Secured Credit Facility and the transactions are anticipated to be immediately leverage accretive.
MANAGEMENT COMMENTS
“These assets represent the trifecta,” commented Adam Dirlam, Chief Operating Officer of Northern. “We are acquiring high return core properties with top operators, assets with significant inventory and growth potential, and engaging in a transaction expected to meaningfully impact Northern’s free cash flow profile. We expect to generate over $100 million in free cash flow from the assets through 2025, based on current strip prices.”
“Consistent with our fundamental approach to growing our enterprise, these transactions achieve all of our stated goals,” commented Nick O’Grady, Chief Executive Officer of Northern. “These deals are immediately accretive to our enterprise and all relevant per share statistics. As promised, alongside a reduction in leverage ratios, it means an acceleration of our dividend strategy to shareholders, while augmenting our inventory and growth profile.”
UPDATED CAPITAL EXPENDITURES GUIDANCE |
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Total Capital Expenditures (in millions) |
$215 - $270 |
$200 - $250 |
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Northern has experienced significantly improved capital efficiencies year to date, and post-transaction, capital expenditures are expected to increase by only $15–20 million, despite approximately $35 million of development capital on the acquired properties. The implied $15–20 million reduction of Northern’s previous capital expenditure guidance, combined with the additional cash flows from the acquired properties, should serve to bolster Northern’s estimated free cash flow profile at current strip prices.
CONFERENCE CALL
Northern has recorded a conference call discussing the acquisitions. Those wishing to listen to the conference call may do so by calling Toll-Free U.S. 877-660-6853 or International +1 201-612-7415 and providing the Conference ID 13720652.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Northern’s financial position, business strategy, plans and objectives of management for future operations and industry conditions are forward-looking statements, including statements regarding the expected production, drilling locations and free cash flow from the Permian assets, the expected closing date for the pending acquisition, Northern’s expected capital expenditures for 2021 and management’s intention to recommend an increase to Northern’s quarterly dividend. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Northern’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on Northern’s properties and properties pending acquisition, the effects of the COVID-19 pandemic and related economic slowdown, Northern’s ability to acquire additional development opportunities, changes in Northern’s reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which Northern conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, Northern’s ability to consummate any pending acquisition transactions (including the transactions described herein), other risks and uncertainties related to the closing of pending acquisition transactions (including the pending transaction described herein), Northern’s ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Northern’s operations, products, services and prices.
Northern has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Northern’s control. Northern does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
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LONDON--(BUSINESS WIRE)--#Vortexa--Vortexa, a leading energy and shipping analytics platform, combining AI and deep industry expertise to provide the most complete real-time data and analytics tools for waterborne energy and shipping markets, is delighted to announce the launch of a suite of brand new Freight Analytics screens providing a past, present and future views of the supply and demand across all tanker classes globally.
The highly intuitive screens, including Vessel Availability, Congestion, Fleet Distribution and Fleet Utilisation surface clear, reliable and accurate data analysis and insights in real-time, allowing charterers, traders and ship owners to make high-stakes decisions in the shipping markets with confidence, seizing market opportunities before others.
Vortexa’s clients can instantly understand changes in global freight supply and demand in realtime to significantly strengthen their hand in the market. Charterers can accurately time chartering decisions, capture the best vessels in the market, minimise demurrage costs and optimise operations. Shipowners can evaluate supply and demand market dynamics to enhance fleet positioning and identify emerging freight trading opportunities. Traders can quickly identify early indicators of physical movements that will inevitably impact prices and influence time-sensitive decisions ahead of the energy markets.
Vortexa’s CEO, Fabio Kuhn said: ‘’Our next-generation of freight analytics will be a major source of competitive advantage to charterers, ship owners and traders. We are very excited to level up the shipping markets to the frontier of what’s possible today with deep technology and advanced industry expertise.’’
Click here to learn more about Vortexa’s Freight Analytics and request a demo today.
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About Vortexa
Vortexa tracks more than $1.8 trillion of waterborne energy trades per year in real-time, providing energy and shipping companies with the most complete picture of global energy flows available in the world today. Vortexa’s highly intuitive platform with programmatic API/SDK interfaces help traders, analysts and charterers make high-value trading decisions with confidence, when it matters the most.
Emma Boyle, Senior Communications Executive
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+44 7814767321
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