PARIS LA DÉFENSE--(BUSINESS WIRE)--The BlueGuard project, developed under a partnership between Thales and the start-up MyDataModels, specialized in data processing and artificial intelligence, was selected on 3 December 2020 after a call for projects for the Nice Côte d’Azur metropolitan council's Blue Innovation Challenge. The Blue Innovation Challenge aims to support local jobs and develop an innovation ecosystem focused on the maritime sector as an area of strategic importance for the region.
As the threat environment evolves, it is crucially important to protect the maritime and underwater space around sensitive coastal infrastructure such as ports, industrial facilities and sites of economic or military importance, and to ensure security for major events. The BlueGuard project involves developing a demonstrator of a smart surveillance system designed to monitor sensitive coastal sites and protect populations and the coastline reliably at all times from new and emerging threats such as unmanned underwater vehicles.
MyDataModels has a unique set of skills in AI-based data analytics and will be providing expertise in automatic data classification. Thales has already worked with the MyDataModels through AI@Centech, a start-up accelerator programme in Montreal, Canada.
With more than 60 years of experience in undersea defence and global recognition for its underwater systems expertise, Thales will provide its technical and operational insights as well sonar transmit and receive arrays and electronic systems.
"The city's support for the BlueGuard project and Thales' investment will enable the launch of a new surveillance product against coastal threats. This project illustrates the co-innovation developed by Thales with more than 160 startups," Alexis Morel, Vice President, Underwater Systems, Thales.
"It is rare for a major corporation to work successfully in agile mode with a start-up. BlueGuard is a prime example of a win-win partnership focused on developing disruptive technology and demonstrating its capabilities in real-life conditions around the port of Nice thanks to the Nice Côte d’Azur metropolitan council." Denis Bastiment, CTO, MyDataModels
About MyDataModels
Founded in March 2018, MyDataModels offers TADA, a predictive analytics platform powered by artificial intelligence. Powerful and easy to use providing fully interpretable models, TADA helps every professional to deeply analyse their data and make more informed decisions. As such, MyDataModels technology is the preferred solution for healthcare, research, industry and embedded systems. MyDataModels is based in France and employs 30 people. Learn more: www.mydatamodels.com
About Thales
Thales (Euronext Paris: HO) is a global high technology leader investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technology – to build a future we can all trust, which is vital to the development of our societies. The company provides solutions, services and products that help its customers – businesses, organisations and states – in the defence, aeronautics, space, transportation and digital identity and security markets to fulfil their critical missions, by placing humans at the heart of the decision-making process.
With 83,000 employees in 68 countries, Thales generated sales of €19 billion in 2019 (on a basis including Gemalto over 12 months).
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LONDON--(BUSINESS WIRE)--#apac--The Oil and Gas Storage Market is poised to experience spend growth of more than USD 2 billion between 2020-2024 at a CAGR of over 3.13%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
Read the 120-page research report with TOC and LOE on "Oil and Gas Storage Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."
SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Oil and Gas Storage Market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Information on Latest Trends and Supply Chain Market Information Knowledge centre on COVID-19 impact assessment
Insights into the Market Price Trends
Insights to help buyers identify and shortlist the most suitable suppliers for their Oil And Gas Storage Market requirements. This procurement report answers the following questions:
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Insights into strategies that will help buyers optimize their category management practices. The report answers the following questions:
Some of the top Oil And Gas Storage Market suppliers enlisted in this report
This Oil And Gas Storage Market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
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LONDON--(BUSINESS WIRE)--#apac--The new Aviation Fuel market research report from SpendEdge indicates an incremental growth during the forecast period as the business impact of COVID-19 spreads.
As the markets recover SpendEdge expects the Aviation Fuel market size to grow by USD 19 billion during the period 2020-2024.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the Aviation Fuel market. Download free report sample
Aviation Fuel Market Analysis
Analysis of the cost and volume drivers and supply market forecasts in various regions are offered in this Aviation Fuel research report. This market intelligence report also analyzes the top supply markets and the critical cost drivers that can aid buyers and suppliers to devise a cost-effective category management strategy.
Insights Delivered into the Aviation Fuel Market
This market intelligence report on Aviation Fuel answers to all the critical problems faced by investors who seek cost-saving opportunities in a competitive market. It also offers actionable anecdotes on the industry structure and supply market forecasts including highlights of the top vendors in this market. Our procurement experts have determined effective category pricing strategies that are attuned to the dynamics of this market which can be leveraged to maximize revenue generation against minimum investments on the products.
Information on Latest Trends and Supply Chain Market Information Knowledge center on COVID-19 impact assessment
The reports help buyers understand:
This Aviation Fuel Market procurement research report offers coverage of:
For more information on the exact spend growth rate and yearly category spend, download a free sample.
This market intelligence report identifies the major costs incurred by suppliers and provides additional information on:
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Notes:
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Content
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more https://www.spendedge.com/request-for-demo
SpendEdge
Anirban Choudhury
Marketing Manager
Ph No: +1 (872) 206-9340
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LONDON--(BUSINESS WIRE)--#Bits--The new PDC drill bits in oil and gas industry market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the PDC drill bits in the oil and gas industry market.
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"One of the primary growth drivers for this market is the increased use of horizontal and multilateral wells,” says a senior analyst for the industrials industry at Technavio. Vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the PDC drill bits in oil and gas industry market size to grow by USD 31.70 million during the period 2020-2024.
PDC Drill Bits in Oil and Gas Industry Market Segment Highlights for 2020
Regional Analysis
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Related Reports on Industrials Include:
Global AC Electric Motor Sales in Oil and Gas Market- The AC electric motor sales in the oil and gas market is segmented by type (induction motor and synchronous motor) and geography (APAC, MEA, North America, Europe, and South America). Click Here to Get an Exclusive Free Sample Report
Global Air Particle Monitor System Market- The air particle monitor system market is segmented by application (indoor and outdoor), end-user (government, commercial and residential, and others), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
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HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) will host a conference call webcast on Tuesday, Feb. 2, 2021, at 12:00 p.m. Eastern time to discuss fourth-quarter 2020 financial and operating results. The company’s financial and operating results will be released before the market opens on Feb. 2.
To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the "Register" link in the Investor Presentations section. You should register at least 15 minutes prior to the start of the webcast. The event will be archived and available for replay later the same day. A transcript will be available on the Investor Relations site.
--- # # # ---
About ConocoPhillips
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,800 employees at Sept. 30, 2020. Production excluding Libya averaged 1,108 MBOED for the nine months ended Sept. 30, 2020, and proved reserves were 5.3 BBOE as of Dec. 31, 2019. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as "anticipate," "estimate," "believe," “budget,” "continue," "could," "intend," "may," "plan," "potential," "predict," “seek,” "should," "will," “would,” "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas and the resulting company actions in response to such changes, including changes resulting from the imposition or lifting of crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; changes in commodity prices; changes in expected levels of oil and gas reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining, or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete our announced dispositions or acquisitions on the timeline currently anticipated, if at all; the possibility that regulatory approvals for our announced dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of our announced dispositions, acquisitions or our remaining business; business disruptions during or following our announced dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced dispositions in the manner and timeframe we currently anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; the ability to successfully receive the requisite approvals and consummate the proposed acquisition of Concho Resources; the ability to successfully integrate the operations of Concho Resources with our operations and achieve the anticipated benefits from the transaction; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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DUBLIN--(BUSINESS WIRE)--The "Global Electricity & Gas Utility Analysis & Forecasts Edition 2 - 2021" database has been added to ResearchAndMarkets.com's offering.
The purpose of this report is to provide a resource to quantify, segment and target the markets of utilities and their customers. The report provides an analysis of the customer bases of global electricity and gas utilities with historical data forecast to 2030 by country, and snapshots of individual utility customer bases in 2019.
The data provides market analysis in tiers; Global, Regional, National, Utilities and drills down to the Customer Bases of individual Utilities. 10 regions and 211 countries.
Locate and target market segments at different tiers and channel strategies can be developed to reach them.
901 electricity and 380 natural gas transmission utilities, 7,182 electricity and 4,089 natural gas distribution utilities, with 2,224 million electricity and 582 million gas customers analysed by country and utility.
These databases can be used in two ways. You can use them to target utilities as primary end customers if you are selling products or services to the utilities directly, and you can prioritise the utilities by size, region and country. For example, you could identify the 38 electricity discos in the world with over 10 million customers, or the 316 with 1 million or more. You might be more interested in the 6,865 smaller electricity utilities with under 1 million customers. Or you could pick the 213 small utilities in South America, and drill down further by size or country. Or, you can segment the 2.8 billion customers of the utilities, by country and utility size.
The databases have wider implications for other associated product fields. The discos supply power or gas and they are also channels to reach electricity and gas consumers for a multitude of other associated product offers. Many municipal discos have already developed ranges of products and services, some widely different from energy but carried via the channel of their energy supplies.
Zero straight in on your prime targets. Some products or services involve high investment and are designed for large utilities. Many more are in the intermediate or small range. Whichever category you are in, this database provides a basic marketing resource to segment and target your market. The electricity utility data is analysed globally, by 10 regions and 207 countries.
This electricity database has some surprises and without the information, opportunities could be missed and wrong directions were taken. For example, in the addressable markets of electricity utilities Europe and North America have 76% of the world's DSOs, with only 11% of the largest companies but 77% of the smallest. In contrast, Asia has only 4% of the total number, but 87% of the largest utilities. South America has only 3.6% of the total, but 16% of the mid-size. The database has many such comparisons, which demonstrates its value as a targeting resource.
The gas utility data is analysed globally, by 10 regions and 207 countries. However, whereas grid electricity is almost universal, albeit limited in the smallest countries, piped gas is supplied in only 84 countries. Most countries have tanked or cylinder LPG, often widely available.
The composition of the gas utility population is different from electricity utilities, in that it has fewer very large utilities and more mid-sized, reflecting the more concentrated asset base of the gas sector. The database will give you the resource to locate and navigate the gas utility sector.
For more information about this database visit https://www.researchandmarkets.com/r/5lw63e
ResearchAndMarkets.com
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Colorado Companies Team up with Local Non-Profits from Coast to Coast
DENVER--(BUSINESS WIRE)--The Broe Group and its rail affiliate OmniTRAX, Inc. have pledged one million meals to community food banks throughout their U.S. operating region. As America faces unprecedented food insecurity, the Colorado companies are leading a multi-state commitment to help relieve the growing strain on local food banks.
“No one should go hungry, yet our nation’s food banks fight each day to meet the increasing community demand for food,” said The Broe Group’s Kiki Broe. “The communities we serve are home to our teammates, neighbors and partners, and we are committed to helping the local food banks serve this unprecedented need. We encourage everyone to help these vital community partners in any way they can.”
Food bank recipients span from Colorado to California, Georgia, Indiana, Ohio, New Jersey and West Virginia. Community meal pledges are further supported by local employee volunteer service from OmniTRAX rail affiliates Great Western Railway, Georgia Woodlands Railroad, Northern Ohio and Western, Savannah Industrial Transportation, Stockton Terminal and Eastern Railroad, Brownsville & Rio Grande International Railway and Winchester and Western Railway.
“As communities across America face economic and public health challenges from the pandemic, food insecurity has become a serious problem,” said OmniTRAX COO Gord Anutooshkin. “By contributing our time and resources, we can help support the unprecedented need and combat food insecurity at the local level.”
About The Broe Group
Based in Denver, The Broe Group and its affiliates form a privately-owned, multi-billion-dollar real estate, transportation, energy and investment organization with assets owned and managed across North America. Together, Broe managed companies employ more than 1,000 people and support employment of thousands of others through operations such as its Great Western Industrial Park in Northern Colorado. Its transportation affiliate, OmniTRAX, Inc., is one of North America’s fastest growing railroad and transportation management companies specializing in: management services, railroad and port services, intermodal solutions and industrial switching operations. Its energy affiliates include Great Western Petroleum, LLC, the largest private operator in the third most prolific U.S. basin. Broe Real Estate Group acquires, develops and manages office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group also has multiple investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, visit broe.com.
About OmniTRAX, Inc.
As one of North America’s fastest growing railroad and transportation management companies, OmniTRAX's core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at omnitrax.com.
Ronald Margulis
RAM Communications
+1 908.272.3930
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MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto has committed to invest $10 million with the world’s largest steel producer China Baowu Steel Group over the next two years in low-carbon steelmaking projects and research. This investment is the next step in advancing the partnership formed between Rio Tinto, China Baowu and Tsinghua University in 2019 to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.
Rio Tinto’s investment will fund the joint establishment of a Low Carbon Raw Materials Preparation R&D Centre, which will initially prioritise the development of lower carbon ore preparation processes. This will include creating two ore preparation pilot plants, one to use biomass and the other exploring using microwave technology. The investment will also support work on carbon dioxide utilisation and conversion at the China Baowu Low Carbon Metallurgical Innovation Centre, which is a Baowu-led open platform for advancing metallurgical technologies to support the low-carbon transformation of the steel industry.
These investments will advance technologies that will be crucial in reducing emissions from China’s prevalent iron and steel making process, and will support both the short and long-term decarbonisation goals of the steel industry. As the world’s largest steel producer, China Baowu’s leadership in advancing low-carbon steel solutions is an important pillar in supporting China’s target of striving to be carbon neutral by 2060.
Rio Tinto chief executive J-S Jacques said "This investment with our partners at China Baowu is an important step in our climate partnership. We have been able to identify research and development projects which have the potential to significantly reduce the carbon emissions associated with existing steelmaking processes, as well as developing technologies for the future of steelmaking to support the transition to a low-carbon economy.
“The initial priority areas identified by the partnership for investment show the value of working together to share resources and utilise the strengths of the respective teams to make progress towards a low-carbon steel value chain.”
China Baowu chairman Chen Derong said “To deal with global climate change and achieve green transformation through cooperation has become the consensus and common practices of the global steel value chain. It requires collective action of the steel enterprises, as well as upstream and downstream players. We highly appreciate Rio Tinto’s commitment to advancing a low-carbon future, and we hope to strengthen our partnership with Rio Tinto in contributing our joint efforts.”
About Rio Tinto
Rio Tinto produces materials that are essential to human progress. We have publicly acknowledged the reality of climate change for over two decades and have reduced our emissions footprint by over 30 per cent in the decade to 2020.
We have set ambitious emissions targets to reduce our carbon intensity by a further 30% and our absolute emissions by a further 15% by 2030, alongside establishing a $1 billion fund to invest in climate related projects. These targets will bring us a step closer to achieving our long-term goal of becoming net zero emissions by 2050.
In 2018, we completed the divestment of our coal assets, becoming the only major mining company not producing fossil fuels. In the same year, we also entered into the Elysis joint venture with Alcoa, with investments from the Government of Quebec and Apple, which is developing a revolutionary process to make aluminium that eliminates all direct greenhouse gas emissions from smelting.
In 2019, we entered into a partnership with the world’s largest steel producer, China Baowu Steel Group and Tsinghua University to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.
About China Baowu Steel Group
The vision of China Baowu is to become a leader in the global steel industry, with a mission to build up a high-quality steel ecosphere together. Its core values of integrity, innovation, synergy, and sharing informs its commitment to advancing a green, high-quality and intelligent steel manufacturing industry, with coordinated effort across related industries including new materials, modern trade logistics, industrial services, urban services, and industrial finance, leveraging its leadership in technology, efficiency and scale.
The overall approach of China Baowu’s low-carbon metallurgical technology innovation is to explore and adopt key low-carbon technologies by continuously innovating and improving the existing steelmaking process in the short term, and to lead technology of the future in the longer term. China Baowu is building an open platform to work with partners to explore technology solutions and roadmaps to reinvent the steel-making process and reshape the low-carbon value chain for the steel industry’s low-carbon transformation.
Rio Tinto
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riotinto.com
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Illtud Harri
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Matthew Klar
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Media Relations, Asia
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Steve Allen
Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
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Registered in England
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Rio Tinto Limited
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Melbourne 3000
Australia
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Category: general
MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) announced today executive management changes effective December 31, 2020.
The Company has announced the promotion of Mr. Alex Dyes to Executive Vice President of Engineering and Corporate Strategy, the promotion of Mr. Marinos Baghdati to Executive Vice President of Operations, and the promotion of Hollie Lamb to Vice President of Compliance and General Manager of the Midland, Texas office. Mr. Dyes and Mr. Baghdati will report directly to Paul D. McKinney, Chief Executive Officer and Chairman of the Board and Ms. Lamb will report to Mr. Dyes.
Additionally, Mr. David A. Fowler will step down from his position as President, but will remain in Midland, Texas in a consulting capacity with the Company taking over for Bill Parsons managing Investor Relations. In this new role, Mr. Fowler will also be assisting Mr. Dyes with Business Development. Mr. Danny Wilson, who has served the Company as the Executive Vice President and Chief Operating Officer since 2013, will be leaving the Company following the conclusion of a transition period to explore new professional opportunities.
Paul D. McKinney, Chief Executive Officer and Chairman of the Board, commented, “I would like to thank Bill Parsons for his many years of service to this company and its shareholders and wish him the very best in retirement. I would also like to thank David Fowler and Danny Wilson for their contribution to the Ring Energy story since its early days in 2013. The conventional, low decline, and long-life producing assets that form the foundation of this company is the result of their foresight, knowledge, and experience on what it takes to build a great oil and gas company. We are grateful for the opportunity to build upon their success and continue building shareholder value.” Additionally, Mr. McKinney said, “I would like to congratulate and thank Mr. Alex Dyes, Mr. Marinos Baghdati, and Ms. Hollie Lamb for accepting their new executive roles working with me to forge the path to greater profitability and growth.”
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations in Texas and New Mexico. www.ringenergy.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2019, its Form 10Q for the quarter ended September 30, 2020 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.
David Fowler
Ring Energy, Inc.
Office: (432) 682-7464
Bill Parsons
K M Financial, Inc.
(702) 489-4447
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power customers are now receiving half of their energy from renewable sources as the company becomes the first Minnesota utility to deliver 50 percent renewable energy to customers.
The achievement highlights the success of Minnesota Power’s EnergyForward strategy to transition to cleaner energy sources while meeting customer expectations for reliable and affordable electricity. The company reached this milestone when the Nobles 2 wind project in southwestern Minnesota came online this month.
“We are committed to advancing a sustainable future of reliable, affordable and increasingly lower-carbon energy for our customers and our communities and this is an important milestone in our clean energy transformation from relying almost completely on coal to delivering 50 percent renewable energy, accomplished while keeping our residential rates the lowest in the state of Minnesota and improving the reliability of our system,” said ALLETE President and CEO Bethany Owen. “We are proud of how far we have come in this transformation, but we know we have more work to do.”
The Nobles 2 wind project will supply renewable energy to Minnesota Power through a 20-year power purchase agreement. The project also is an investment for ALLETE; it is owned by Nobles 2 Power Partners LLC, whose investors include an ALLETE subsidiary, energy company Tenaska and Bright Canyon Energy.
With Nobles 2 operational, Minnesota Power’s wind portfolio has grown to approximately 870 megawatts of owned and contracted wind capacity. The Nobles 2 wind addition also adds geographic diversity to Minnesota Power’s wind portfolio, complementing its North Dakota wind sites and contracts.
Nobles 2 is the second 2020 project to help Minnesota Power reach 50 percent renewable. The first was the Great Northern Transmission line, energized this past June. This 500 kV line delivers 250 megawatts of carbon-free hydropower from Manitoba Hydro to Minnesota Power customers. Innovative power purchase agreements with Manitoba Hydro include a unique wind provision that allows Minnesota Power the flexibility to balance its intermittent wind energy in North Dakota with hydroelectric power that is available on demand.
Beyond this milestone, Minnesota Power is making additional plans to further transform its energy supply.
“Minnesota Power’s next biennial Integrated Resource Plan is scheduled to be submitted to the Minnesota Public Utilities Commission in February,” said Julie Pierce, Minnesota Power Vice President of Strategy and Planning. “That plan will outline scenarios for the thoughtful transition of our coal units at Boswell 3 and 4, the next steps for the transition to even more renewable energy, and more investments in the grid to enhance reliability, all while working to ensure affordability, the health of our communities, and opportunities for our employees.”
Under Minnesota Power’s EnergyForward strategy, the company has:
Minnesota Power provides electric service within a 26,000-square-mile area in northeastern Minnesota, supporting comfort, security and quality of life for 145,000 customers, 15 municipalities and some of the largest industrial customers in the United States. More information can be found at www.mnpower.com. ALE-CORP
The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.
Amy Rutledge
Manager - Corporate Communications
Minnesota Power/ALLETE
218-348-2961
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today that there will be no distribution paid for the month ended December 2020 to holders of record as of the close of business on December 31, 2020, as costs, charges and expenses attributable to the Trust’s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by the volatility in commodity prices. There has been a substantial decrease in oil and natural gas prices in 2020 due in part to significantly decreased demand as a result of the COVID-19 pandemic and an oversupply of crude oil. Oil and natural gas prices could remain low for an extended period of time, which in turn could have a material adverse effect on Trust distributions. Continued low oil and natural gas prices, among other things, will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust’s Form 10-K for the year ended December 31, 2019 under “Part I, Item 1A. Risk Factors,” the Trust’s Form 10-Q for the quarter ended March 31, 2020 under “Part II, Item 1A. Risk Factors,” the Trust’s Form 10-Q for the quarter ended June 30, 2020 under “Part II, Item 1A. Risk Factors” and the Trust’s Form 10-Q for the quarter ended September 30, 2020 under “Part II, Item 1A. Risk Factors.” Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
DUBLIN--(BUSINESS WIRE)--The "Global Soybean Oil Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global soybean market is expected to register a CAGR of 5.78% during the forecast period (2020-2025).
The growing awareness among consumers regarding the advantages of soybean oil, in comparison to other vegetable edible oils, has driven its demand significantly.
China, the United States, Brazil, and India are the major countries in the world that consume soybean oil.
Low cost, easy availability, and the eco-friendly nature of soybean oil have further facilitated its use in various sectors, such as food, industrial, and feed. Soybean oil is also used in various food and industrial applications, such as for production of caulks and mastics, which are useful as adhesives or sealants.
Key Market Trends
Growing Usage of Soybean Oil in Biodiesel
Soybean acreage is much greater than other oilseed crops, leading to substantial soybean oil production and its availability as a biofuel feedstock. There are many benefits to using soybean oil in the production of biodiesel. As soybeans are widely grown, the infrastructure and equipment to grow, transport, and process them already exists.
Moreover, the leftover soybean meal is important for animal feed. The use of soybean oil for biodiesel was greatly influenced by the promotion from US soybean farmers through the United Soybean Board (USB) and the subsequent creation of the National Biodiesel Board (NBB). According to the EIA, the total share of soybean oil consumed as a biodiesel feedstock doubled, from about 15% in 2010-11 to 30% in 2017-18.
North America Holds a Prominent Share in the Market
Biodiesel is leading to the increase of the consumption of soybean oil in the country. The weak food demand is offset by theincrease in the US production of biodiesel, which uses soybean oil as a major feedstock. As per the USDA reports, soybean production declined initially (2010/11-2011/12) and then increased incrementally, with a modest improvement in yields and planted acreage.
The expected growth in the US soybean supply will allow for a moderate rise in the domestic use and exports. However, the growth of the US soybean industry is likely to slow over the next few years, as it faces stronger foreign competition and the US farmers are shifting their acreage into feed grains. Although the net returns for soybeans is likely to rise to uncommonly high levels, they are expected be lower than that of corn, and as a result, gradually limit the US soybean acreage.
Competitive Landscape
The global soybean oil market is consolidated, with the major players holding a prominent share in the market. The versatility of soybean oil is expected to emerge as an opportunity, and thereby, attract many manufacturers in the food products sector across the world.
The major players in the market are Cargill Inc., Bungee Limited, ADM, and Associated British Foods PLC.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Food
5.1.1.1 Spreads
5.1.1.2 Bakery and Confectionery
5.1.1.3 Other Applications
5.1.2 Animal Feed
5.1.3 Industrial
5.2 Geography
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Archer Daniels Midland Company
6.4.2 Associated British Foods PLC
6.4.3 Bungee Limited
6.4.4 Cargill Incorporated
6.4.5 Corteva
6.4.6 Olam International
6.4.7 Wilmar International Ltd
6.4.8 Granol
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/nouu80
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners (NYSE: PSXP) executive management will host a conference call webcast at 2 p.m. EST on Friday, Jan. 29, to discuss the partnership’s fourth-quarter 2020 financial results, which will be released earlier that day, and provide an update on strategic initiatives.
To access the webcast, go to the Phillips 66 Partners Events and Presentations site, www.phillips66partners.com/events. A replay of the webcast will be archived on the Events and Presentations site approximately two hours after the live call, and a transcript will be available at a later date.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.
Jeff Dietert, 832-765-2297 (investors)
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Shannon Holy, 832-765-2297 (investors)
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Thaddeus Herrick, 855-841-2368 (media)
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Through an Energy Savings Performance Contract, AECOM will retrofit Los Angeles’ Joint Water Pollution Control Plant, which serves five-million residents, businesses and industries
LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s premier infrastructure consulting firm, today announced that it has been selected to perform work through an Energy Savings Performance Contract for the Los Angeles County Sanitation Districts’ Joint Water Pollution Control Plant (JWPCP) in Carson, California. The contract includes upgrades to the pure oxygen production process, which can result in more than $1.3 million in energy, water, and maintenance cost savings annually and more than $8 million in avoided capital expenditure. AECOM was competitively selected to complete the project feasibility study and will now move to final design, construction, commissioning, and performance guarantee, with a contract totaling over $41 million.
“We’re honored to partner with the Los Angeles County Sanitation Districts to upgrade its JWPCP facility, leveraging the strength of our technical expertise from designing and constructing many large-scale, multi-phase water projects to help improve service for millions of people across Los Angeles,” said Lara Poloni, AECOM’s president. “We are the largest environmental firm as ranked by ENR, and this important project reflects our commitment to lead in environmental, social and governance (ESG) best practices and make a positive impact on the communities we serve.”
“We are excited to have hired AECOM to complete this important retrofit for our agency. They have the special expertise required to successfully complete this complex project. Performing this work through an Energy Savings Performance Contract gets us a completed project sooner, which will provide savings to our ratepayers sooner,” said Paul Mikulas, supervising engineer in the Sanitation Districts’ Wastewater and Solid Waste Design Section.
AECOM’s scope of work includes the replacement of two 150 tons per day backup Cryogenic Oxygen Generation Plants with two Vacuum Pressure Swing Adsorption (VPSA) units, which is critical to the plant’s biological system and the facility meeting effluent requirements. The current Cryogenic Systems require multiple days to startup and achieve the required oxygen purity and production levels, making it imperative that the two backup units operate continuously. The main advantage of the new VPSA units is they will not need to operate continuously.
“The JWPCP is a 400 million gallons per day, activated sludge treatment plant that serves five-million residents, businesses and industries in Los Angeles County. The pure oxygen system is one of the most critical facilities in the treatment plant,” said Annika Moman, senior vice president of AECOM’s Design and Consulting Services group’s Energy practice. “The new VPSA units utilize adsorption media to separate oxygen from ambient air, achieving oxygen purity and production levels within a few hours. Thus, these units will not operate continuously, resulting in substantial energy, operation, and maintenance cost savings.”
AECOM’s previous work in this space includes project and construction management for similar retrofits of wastewater plants, including experience in optimizing downstream oxygen utilization through better operations and controls, understanding environmental impacts to attain required permits, and expertise in energy engineering that includes the establishment of a well-documented baseline and detailed measurement and verification plans.
About AECOM
AECOM (NYSE: ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we deliver what others can only imagine at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Power transaction and other recent acquisitions and divestitures, including the risk that the expected benefits of such transactions or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with recent acquisitions and divestitures will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Investor Contact:
Will Gabrielski
Senior Vice President, Investor Relations
213.593.8208
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Media Contact:
Brendan Ranson-Walsh
Vice President, Global Communications & Corporate Responsibility
213.996.2367
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) executive management will host a conference call webcast at noon EST on Friday, Jan. 29, to discuss the company’s fourth-quarter 2020 financial results, which will be released earlier that day, and provide an update on strategic initiatives.
To access the webcast, go to the Phillips 66 Investors site, http://www.phillips66.com/investors, and click on “Events and Presentations.” A replay of the webcast will be archived on the Investors site approximately two hours after the live call, and a transcript will be available at a later date.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,500 employees committed to safety and operating excellence. Phillips 66 had $54 billion of assets as of Sept. 30, 2020. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
Jeff Dietert, 832-765-2297 (investors)
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Shannon Holy, 832-765-2297 (investors)
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Thaddeus Herrick, 855-841-2368 (media)
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DUBLIN--(BUSINESS WIRE)--The "Pontoon Boat Market by Application Type, by Tube Type, by End-Use Type, by Size Type, and by Region, Size, Share, Trend, Forecast & Competitive Analysis: 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The pontoon boats market is estimated to reach an estimated US$ 2.5 billion in 2025, offering good opportunities for the market participants in the long-term scenario. The market was likely to exhibit impressive growth in 2020, compensating the marginal decline faced in 2019.
This comprehensive report studies the pontoon boat market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025 in terms of both, unit shipments as well as value.
The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for pontoon boats at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
The Pontoon Boats Market: Highlights
Pontoon boats are flat-deck boats containing two or more floating hulls or tubes typically powered by an outboard engine. They generally have either square or rectangular shapes, which make them less suitable for choppy or rough water; however, they are widely preferred in lakes where they are used for varied functions, such as entertainment, fishing, and lounging. These boats have large deck space, which adds more seating space, luxury, comfort, extra storage space, and additional room for various activities as per users' interest.
The pontoon boats market has grown tremendously in the past years, it is among the first in the boating industry to rebound from the downturn in sales caused by the Great Recession (2008).
However, the COVID-19 outbreak has devastated the growth trajectory of the entire boating industry, ruining the tireless efforts of one decade of industry stakeholders. Pontoon boats could not prevent themselves from those tendencies and are estimated to experience a hefty decline of -25.5% on a YoY basis in 2020, crushing the market to below the year 2015-value.
It is also estimated that the pontoon boats market is likely to mark the fastest rebound among all boat types in the post-pandemic scenario. The market will find some solace with some driving factors including expected growth in the HNWI population, increasing boating participants, increasing share of pontoon boats in the outboard boats, versatile usage of pontoon boats, advancements in the boat engine technology, and higher affordability of pontoon boats.
Pontoon boats have been gaining share in the outboard boats market, and their attractiveness has led to the entry of boating players in the market. After the recession, the sales of pontoon boats were so high that even the established industry players in fiberglass boats also began to enter the pontoon boats market:
Key Topics Covered:
1. Executive Summary
2. Pontoon Boats Market Overview and Segmentation
2.1. Introduction
2.2. Pontoon Boats Market Segmentation
2.2.1. By Application Type
2.2.2. By Tube Type
2.2.3. By End-Use Type
2.2.4. By Size Type
2.2.5. By Region
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. PEST Analysis
2.6. SWOT Analysis
3. Pontoon Boats Market- The COVID-19 Impact Assessment
3.1. Insights
3.2. Pontoon Boats Market Trend and Forecast (US$ Million and Thousand Units)
3.3. Pre-COVID vs Post-COVID Assessment
3.4. The Pandemic: Real GDP Loss vs. Pontoon Boats Market Loss (2020-2021)
3.5. Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic
3.6. Profitability Analysis
3.7. Market Segments' Analysis (US$ Million and Thousand Units)
3.8. Regional and Country-Level Analysis (US$ Million and Thousand Units)
3.9. Market Drivers
3.10. Market Challenges
4. Competitive Analysis
4.1. Insights
4.2. Product Portfolio Analysis
4.3. Geographical Presence
4.4. New Product Launches
4.5. Strategic Alliances
4.6. Market Share Analysis
4.7. Porter's Five Forces Analysis
5. Pontoon Boats Market Trend and Forecast by Application Type (2014-2025)
5.1. Insights
5.2. Family-Fun: Regional Trend and Forecast (US$ Million and Thousand Units)
5.3. Fishing: Regional Trend and Forecast (US$ Million and Thousand Units)
5.4. Cruising: Regional Trend and Forecast (US$ Million and Thousand Units)
5.5. Watersports: Regional Trend and Forecast (US$ Million and Thousand Units)
5.6. Others: Regional Trend and Forecast (US$ Million and Thousand Units)
6. Pontoon Boats Market Trend and Forecast by Tube Type (2014-2025)
6.1. Insights
6.2. Two-Tube Pontoon: Regional Trend and Forecast (US$ Million and Thousand Units)
6.3. Three-Tube Pontoon: Regional Trend and Forecast (US$ Million and Thousand Units)
7. Pontoon Boats Market Trend and Forecast by End-Use Type (2014-2025)
7.1. Insights
7.2. Private: Regional Trend and Forecast (US$ Million and Thousand Units)
7.3. Commercial: Regional Trend and Forecast (US$ Million and Thousand Units)
8. Pontoon Boats Market Trend and Forecast by Size Type (2014-2025)
8.1. Insights
8.2. &lessThan; 20 Feet: Regional Trend and Forecast (US$ Million and Thousand Units)
8.3. 20-25 Feet: Regional Trend and Forecast (US$ Million and Thousand Units)
8.4. >25 Feet: Regional Trend and Forecast (US$ Million and Thousand Units)
9. Pontoon Boats Market Trend and Forecast by Region (2014-2025)
10. Strategic Growth Opportunities
10.1. Insights
10.2. Market Attractiveness Analysis
10.2.1. Market Attractiveness by Application Type
10.2.2. Market Attractiveness by Tube Type
10.2.3. Market Attractiveness by End-Use Type
10.2.4. Market Attractiveness by Size Type
10.2.5. Market Attractiveness by Region
10.2.6. Market Attractiveness by Country
10.3. Emerging Trends
10.4. Growth Matrix Analysis
10.5. Key Success Factors (KSFs)
11. Company Profile of Key Players (Profiling, Financial Information, Competition, Strategies, etc.)
11.1. Avalon Pontoon Boats
11.2. Brunswick Corporation
11.3. Forest River Inc.
11.4. MasterCraft Boat Company, LLC
11.5. Polaris Inc. (Boat Holdings, LLC.)
11.6. Smoker Craft, Inc.
11.7. Triton Industries Inc. (Manitou Pontoon Boats)
11.8. White River Marine Group
For more information about this report visit https://www.researchandmarkets.com/r/o919ih
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LONDON--(BUSINESS WIRE)--#floatingpowerplant--The floating power plant market is poised to grow by 1204.04 Megawatt during 2020-2024 progressing at a CAGR of over 2% during the forecast period.
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The report on the floating power plant market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The report offers an up-to-date analysis regarding the current global market scenario and the overall market environment. The market is driven by the need for alternate power solutions.
The floating power plant market analysis includes the technology, geography, and geography landscape. This study identifies the continued growth of market activities in renewable power as one of the prime reasons driving the floating power plant market growth during the next few years.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters
The floating power plant market covers the following areas:
Floating Power Plant Market Sizing
Floating Power Plant Market Forecast
Floating Power Plant Market Analysis
Companies Mentioned
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) will hold a webcast on Thursday, January 21, 2021 to discuss the results for the fourth quarter and full year ending December 31, 2020. The webcast is scheduled to begin at 9:00 a.m. Eastern Time (8:00 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).
To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.
About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
Investor Relations
Jud Bailey
+1 281-809-9088
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Thomas Millas
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LUXEMBOURG--(BUSINESS WIRE)--Pacific Drilling S.A. (OTC: PACDQ) announced today the final voting results on the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (the “Plan”). The voting results indicate overwhelming acceptance of the Plan by the two classes entitled to vote on the Plan. The Company has received votes in favor of the Plan from (a) 97.87% in number of the holders of Class 3 First Lien Notes Claims that voted and 99.98% in amount of Class 3 First Lien Notes Claims that voted and (b) 100% in number and amount of the Holders of Class 4 Second Lien Notes Claims that voted. Based on the voting results, the Company believes that it remains on track for Plan confirmation at or shortly following the Plan confirmation hearing currently scheduled for December 21, 2020 in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) and for emergence from the Chapter 11 proceedings by year-end.
The Plan, if confirmed by the Bankruptcy Court, will de-lever the Company’s balance sheet by eliminating over $1 billion of funded debt obligations and provide the Company with access to additional liquidity to operate going forward through an $80,000,000 senior secured delayed draw term loan exit facility. The Company expects to emerge by year-end with approximately $180 million of liquidity, consisting of new capital in the form of the exit facility and approximately $100 million of cash and cash equivalents on hand.
Voting on the Plan ended on December 14, 2020. Prime Clerk LLC, the Company’s claims, noticing, and solicitation agent, has certified and filed the final voting results with the Bankruptcy Court on December 16, 2020.
Additional information regarding the restructuring and Chapter 11 proceedings, including the Plan, can be found (i) on our website at www.pacificdrilling.com/restructuring, (ii) on a website administered by Prime Clerk, at http://cases.primeclerk.com/PacificDrilling2020, or (iii) via our dedicated restructuring information line at: +1 877-930-4314 (toll free) or +1 347-897-4073 (international).
Advisors
Greenhill & Co. is acting as financial advisor, Latham & Watkins LLP and Jones Walker LLP are serving as legal counsel, and AlixPartners is acting as restructuring advisor to Pacific Drilling in connection with the restructuring. Houlihan Lokey is acting as financial advisor and Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to an ad hoc group of noteholders.
About Pacific Drilling
With our best-in-class drillships and highly experienced team, Pacific Drilling is committed to exceeding our customers’ expectations by delivering the safest, most efficient and reliable deepwater drilling services in the industry. Pacific Drilling’s fleet of seven drillships represents one of the youngest and most technologically advanced fleets in the world. For more information about Pacific Drilling, including the Chapter 11 proceedings and the Plan of Reorganization, please visit our website at www.pacificdrilling.com.
Forward-Looking Statements
Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are generally identifiable by their use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “our ability to,” “may,” “plan,” “potential,” “predict,” “project,” “projected,” “should,” “will,” “would”, or other similar words which are not generally historical in nature. The forward-looking statements speak only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Our forward-looking statements express our current expectations or forecasts of possible future results or events, including the potential outcome of the Chapter 11 proceedings; the future impact of the COVID-19 pandemic on our business, future financial and operational performance and cash balances; our future liquidity position and future efforts to improve our liquidity position; revenue efficiency levels; market outlook; forecasts of trends; future client contract opportunities; future contract dayrates; our business strategies and plans or objectives of management; estimated duration of client contracts; backlog; expected capital expenditures; projected costs and savings; expectations regarding the outcome of the ongoing bankruptcy proceedings of our two subsidiaries against whom the arbitration award related to the drillship known as the Pacific Zonda in favor of Samsung Heavy Industries Co. Ltd. (“SHI”) was rendered and the potential impact of the arbitration tribunal’s decision on our future operations, financial position, results of operations and liquidity.
Although we believe that the assumptions and expectations reflected in our forward-looking statements are reasonable and made in good faith, these statements are not guarantees, and actual future results may differ materially due to a variety of factors. These statements are subject to a number of risks and uncertainties and are based on a number of judgments and assumptions as of the date such statements are made about future events, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in such statements due to a variety of factors, including if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect.
Important factors that could cause actual results to differ materially from our expectations include: the potential outcome of our Chapter 11 proceedings; evolving risks from the COVID-19 outbreak and resulting significant disruption in international economies, and international financial and oil markets, including a substantial decline in the price of oil during 2020, which if sustained would continue to have a material adverse effect on our financial condition, results of operations and cash flow; changes in actual and forecasted worldwide oil and gas supply and demand and prices, and the related impact on demand for our services; the offshore drilling market, including changes in capital expenditures by our clients; rig availability and supply of, and demand for, high-specification drillships and other drilling rigs competing with our fleet; our ability to enter into and negotiate favorable terms for new drilling contracts or extensions of existing drilling contracts; our ability to successfully negotiate and consummate definitive contracts and satisfy other customary conditions with respect to letters of intent and letters of award that the Company receives for our drillships; actual contract commencement dates; possible cancellation, renegotiation, termination or suspension of drilling contracts as a result of mechanical difficulties, performance, market changes or other reasons; costs related to stacking of rigs and costs to reactivate a stacked rig; downtime and other risks associated with offshore rig operations, including unscheduled repairs or maintenance, relocations, severe weather or hurricanes or accidents; our small fleet and reliance on a limited number of clients; the outcome of our subsidiaries’ bankruptcy proceedings and any actions that SHI or others may take in the bankruptcy or other proceedings against the Company and our subsidiaries; our ability to continue as a going concern; our ability to obtain Bankruptcy Court approval with respect to motions or other requests made to the Bankruptcy Court in the Chapter 11 proceedings; our ability to confirm and consummate the prearranged Plan; the effects of the Chapter 11 proceedings on our operations and agreements, including our relationships with employees, regulatory authorities, customers, suppliers, banks and other financing sources, insurance companies and other third parties; the length of time that the Company will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the Chapter 11 proceedings; risks associated with third-party motions in the Chapter 11 proceedings, which may interfere with our ability to confirm and consummate the prearranged Plan; increased advisory costs to execute the prearranged Plan; the potential adverse effects of the Chapter 11 proceedings on our liquidity, results of operations, or business prospects; increased administrative and legal costs related to the Chapter 11 proceedings and other litigation and the inherent risks involved in a bankruptcy process; the potential effects of the delisting of our common shares from trading on the New York Stock Exchange, including how long our common shares will trade on the over-the-counter market; the potential effects of the anticipated suspension by the Company of its reporting obligations to the Securities and Exchange Commission (“SEC”); and the other risk factors described in our 2019 Annual Report on Form 10-K filed with the SEC on March 12, 2020, as updated by our Quarterly Reports on Form 10-Q as filed with the SEC on May 8, August 7, and November 6, 2020 and subsequent filings with the SEC. These documents are available through our website at www.pacificdrilling.com or through the SEC’s website at www.sec.gov.
Investor Contact:
James Harris
Pacific Drilling S.A.
+713 334 6662
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Media Contact:
Amy L. Roddy
Pacific Drilling S.A.
+713 334 6662
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EL SEGUNDO, Calif.--(BUSINESS WIRE)--#48V--BrightLoop Converters has greatly reduced the size, cost and improved reliability of its latest BB SP DC-DC buck converters thanks to Efficient Power Conversion Corporation’s (EPC) EPC2029 enhancement-mode gallium nitride (eGaN®) FET transistors. By switching from silicon (Si) transistors to gallium nitride (GaN), BrightLoop was able to increase the switching frequency of their design from 200 kHz to 600 kHz, while keeping the same efficiency. This design change increased the power density of the solution by a factor of approximately two and this resulted in lower cost by enabling the implementation of a smaller enclosure.
EPC’s EPC2029 is an 80 V, 48 A eGaN® FET featuring a 1 mm ball pitch. The wider pitch allows for placement of additional and larger vias under the device to enable high current carrying capability despite the extremely small 2.6 mm x 4.6 mm footprint.
Compared to a state-of-the-art silicon power MOSFET with similar on-resistance, the EPC2029 is much smaller and has many times superior switching performance, making it ideal for applications such as BrightLoop’s high frequency BB SP DC-DC converter.
BrightLoop’s converters are used primarily in motorsports and supercars with other applications including commercial and off-highway vehicles. Future higher power versions are coming next year to address the mild hybrid applications such as electrical starting assistance.
The BB SP is relevant in any dual voltage architecture (14 V / 48 V or 14 V / 24 V), or where a certain load is available only with a voltage that is different from the regular network (for example a 48 V pump on a 14V car), in which case the conversion can be done by the BB SP locally, just in front of the load.
To make the use of BB SP interesting, it needs to have negligible losses and weight compared with the rest of the system. This is possible thanks to EPC’s eGaN FETs. For example, a 48V actuator plus BB SP using GaN can be lighter weight than the equivalent 12 V actuator.
Another important feature, thanks to BrightLoop’s expertise in ultra-high speed digital control, is the ability to implement a closed control loop at 600 kHz, same as the switching frequency. The resulting bandwidth is so high, that very little capacitance is required. This has meant that electrolytic capacitors could be avoided, and only ceramic capacitors were used in the BB SP, reducing further the size and cost, while dramatically improving reliability.
Florent Liffran, CEO of BrightLoop Converters commenting on the development said, “BrightLoop Converters is excited to partner with EPC and to leverage their great expertise in GaN power transistors. Using EPC products has allowed us to design best-in-class solutions for automotive applications with converters that are drastically smaller and lighter than competition, such as the BB SP. We are proud to provide our customers with the best power conversion technologies on the market.”
Wolfram Krueger, EPC’s VP of Sales for EMEA added, “This is a great example of where our eGaN FETs demonstrate real advantage over silicon FETs by delivering performance in a significantly smaller package and the extreme reliability that is needed in these ultra-fast supercars. We are delighted to be working with BrightLoop Converters and are looking forward to working together on future applications.”
About EPC
EPC is the leader in enhancement-mode gallium nitride-based power management devices. EPC was the first to introduce enhancement-mode gallium-nitride-on-silicon (eGaN) FETs as power MOSFET replacements in applications such as DC-DC converters, wireless power transfer, envelope tracking, RF transmission, power inverters, remote sensing technology (lidar), and class-D audio amplifiers with device performance many times greater than the best silicon power MOSFETs. EPC also has a growing portfolio of eGaN-based integrated circuits that provide even greater space, energy, and cost efficiency.
Visit our web site: www.epc-co.com
eGaN is a registered trademark of Efficient Power Conversion Corporation, Inc.
About BrightLoop Converters
BrightLoop Converters is a leading French company in power electronics for top-performance applications. Addressing the needs of the harshest environments such as motorsports, defence, aerospace and railways, BrightLoop Converters develops and manufactures high efficiency and high reliability power converters with the best power-to-weight ratio on the market. Already supplying first-class players in the most demanding hybrid and electric series such as Formula 1, Formula E or ETCR, the goal for BrightLoop is more than ever to keep innovating and revolutionizing the world of power electronics. For more information, please visit: https://www.brightloop.fr/en/ or follow us on LinkedIn.
Efficient Power Conversion: Renee Yawger tel: +1.908.475.5702 email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Europe contact: June Hulme, tel: +44 1270 872315, email: This email address is being protected from spambots. You need JavaScript enabled to view it.
BrightLoop Converters: Laure Carpentier, tel: +33 1 83 62 63 59, email: This email address is being protected from spambots. You need JavaScript enabled to view it.
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