PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.30 per share, or $1.20 per share on an annualized basis. The dividend is payable on November 16, 2020 to stockholders of record as of November 2, 2020.

About NRG Energy

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to more than 3.7 million residential, small business, and commercial and industrial customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, and by working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy, @nrginsight.

Safe Harbor

This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.

Investors:
Kevin L. Cole, CFA
609.524.4526
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Candice Adams
609.524.5428
This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the third quarter 2020. The distribution will be paid on November 12, 2020 to unitholders of record on November 2, 2020.

Holly Energy plans to announce results for its third quarter of 2020 on November 4, 2020 before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on November 4, 2020 at 4:00 p.m. Eastern time to discuss financial results.

The webcast may be accessed at:
https://event.on24.com/wcc/r/2627977/792AA96920FB0C011D30448BC2901ADB

About Holly Energy Partners, L.P.:

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. Holly Energy, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of Holly Energy Partner's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, Holly Energy Partner's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Forward-looking Statement:

The statements in this press release relating to matters that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws, including statements regarding funding of capital expenditures and distributions, distributable cash flow coverage and leverage targets. These statements are based on our beliefs and assumptions and those of our general partner using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in these statements. Any differences could be caused by a number of factors including, but not limited to:

• the extraordinary market environment and effects of COVID-19 pandemic, including the continuation of a material decline in demand for crude oil and refined petroleum products in markets we serve;
• risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored and throughput in our terminals and refinery processing units;
• the economic viability of HollyFrontier Corporation, our other customers and our joint ventures' other customers, including any refusal or inability of our or our joint ventures' customers or counterparties to perform their obligations under their contracts;
• the demand for refined petroleum products in markets we serve;
• our ability to purchase and integrate future acquired operations;
• our ability to complete previously announced or contemplated acquisitions;
• the availability and cost of additional debt and equity financing;
• the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipeline, terminal facilities and refinery processing units, due to reasons such as infection in the workforce, in response to reductions in demand or lower gross margins due to the economic impact of the COVID-19 pandemic, and any potential asset impairments resulting from such actions;
• the effects of current and future government regulations and policies, including the effects of current restrictions on various commercial and economic activities in response to the COVID-19 pandemic;
• delay by government authorities in issuing permits necessary for our business or our capital projects;
• our and our joint venture partners' ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects;
• the possibility of terrorist or cyber-attacks and the consequences of any such attacks;
• general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; and
• the impact of recent or proposed changes in tax laws and regulations that affect master limited partnerships; and
• other financial, operations and legal risks and uncertainties detailed from time to time in our Securities and Exchange Commission filings.

The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Investor Relations

EDISON, N.J.--(BUSINESS WIRE)--Eos Energy Storage LLC (“Eos”), a leading manufacturer of safe, low-cost and long-duration zinc battery storage systems, today announced key appointments to its board of directors.

Eos is pleased to announce that Audrey Zibelman, Dr. Krishna Singh, and Alex Dimitrief will join the Eos board upon the closing of the business combination with B. Riley Principal Merger Corp. II (“BMRG”). In addition, Joe Mastrangelo, Chief Executive Officer of Eos, has been invited to join the board. The board will provide insight and counsel on the continued strategic direction of Eos while also working with Eos and customers to accelerate the adoption of Eos’ zinc-based battery solutions.

Audrey Zibelman was recently named head of Google X (“X”), after serving as CEO of Australian Energy Market Operator (“AEMO”), which manages electricity and gas systems across Australia. Ms. Zibelman will bring deep experience in tackling the multifaceted challenges of clean energy adoption, having led the effort to draw up the “Integrated System Plan”, Australia’s 20-year blueprint to transition the country to renewables. At X, which she will lead starting in 2021, Ms. Zibelman will head Alphabet’s “moonshot factory” to develop and enable new technologies that could lead to greater electrification of the economy and a diverse, decarbonized power system.

Alex Dimitrief is an experienced C-suite leader, former general counsel and trial lawyer who has steered global businesses through a wide range of complex legal, regulatory and commercial challenges. Mr. Dimitrief brings valuable and practical perspectives drawn from a unique combination of 20 years as a senior partner at a leading global law firm and over ten years as a leader at one of the largest in-house legal departments.

Dr. Krishna Singh is the founder, president and chief executive officer of Holtec International, a supplier of equipment and systems for the energy industry. With nearly 50 years of experience in the nuclear power industry and as the holder of 119 patents, Dr. Singh brings a unique perspective and knowledge that will contribute to the success of Eos. In September 2019, Eos and Holtec announced the formation of HI-POWER, LLC, a multi-gigawatt manufacturing joint venture to produce Eos’ next generation of aqueous zinc batteries. The state-of-the-art HI-POWER manufacturing facility is located in Pittsburgh, PA.

Joe Mastrangelo, Eos’ Chief Executive Officer, brings over two decades of experience as an energy industry leader, where he has led diverse teams to develop and deploy commercial scale projects around the world. Mr. Mastrangelo has broad operating experience across the energy value chain including serving as Chief Executive Officer of GE’s Power Conversion business, and over ten years of experience at GE Oil & Gas in various leadership roles in finance, quality, and commercial operations, culminating in being named a GE Corporate Officer in 2008. Mr. Mastrangelo joined Eos as a board advisor in March 2018 and assumed the role of Chief Executive Officer in August 2019.

“It is a privilege to welcome these talented leaders to the board at this exciting time in Eos’ 12-year history,” said Dan Shribman, Chief Executive Officer of BMRG and Chief Investment Officer of B. Riley Financial. “We look forward to their guidance and assistance as we take Eos public and continue to generate the incredible commercial momentum the company has seen over the last several months.”

“It is a great honor to have the board’s support of these accomplished leaders,” said Joe Mastrangelo. “Their experience and knowledge are exceptional and, together, I know we can push Eos to impressive new heights on our mission to accelerate clean energy adoption. I look forward to working with the board and my team to capitalize on the incredible market opportunity in front of us in the battery storage space.”

Following the closing of the business combination, the board will consist of seven members with each bringing extensive and proven executive management and technology expertise to help Eos in key areas of its business:

• Alex Dimitrief, is an experienced director, Chief Executive Officer, C-suite leader and general counsel who has steered varied energy-related and other global businesses through a wide range of complex commercial, legal and organizational challenges. He has previously served as a director of both public and non-public companies including The We Company, Synchrony Financial (NYSE: SF) and GE Capital Bank and presently sits on the Advisory Board of Cresset Capital Management. As President and Chief Executive Officer of General Electric’s Global Growth Organization, Mr. Dimitrief was responsible for driving GE’s growth in more than 180 countries. Under Mr. Dimitrief’s watch in 2018, GE achieved $76 billion in international orders and secured billions in financing for many of GE’s emerging market customers. As GE’s General Counsel, Mr. Dimitrief served as the principal executive advisor to GE’s Board and led a global team responsible for GE’s legal matters, compliance, SEC reporting, government affairs and environmental safety programs. In previous roles at GE, Mr. Dimitrief was a leader of the transformation of GE Capital (including the IPO/split-off of Synchrony Financial) and led joint venture negotiations for GE Energy in China and Russia. In 2007, Mr. Dimitrief came to GE from after 20 years as a senior partner at Kirkland & Ellis LLP, where he “first chaired” and regularly advised Boards about securities, restructuring, intellectual property, product liability, environmental, governance and commercial disputes.
• Joe Mastrangelo joined Eos as a board advisor in March 2018 and assumed the role of Chief Executive Officer in August, 2019. Before coming to Eos, Mr. Mastrangelo was president and chief executive officer of Gas Power Systems since September 2015. As an energy industry leader for the past two decades, Mr. Mastrangelo has extensive experience leading diverse teams to develop and deploy commercial scale projects around the world. Mr. Mastrangelo has broad operating experience across the energy value chain including serving as Chief Executive Officer of GE’s Power Conversion business, applying science and systems of power conversion to increase the efficiency of the world’s energy infrastructure. Mr. Mastrangelo spent ten years with GE Oil & Gas, in leadership roles in finance, quality, and commercial operations, culminating in being named a GE Corporate Officer in 2008. Joe began his career with GE in the company’s Financial Management Program and then joined GE’s Corporate Audit Staff.
• Daniel Shribman, is BMRG’s Chief Executive Officer, Chief Financial Officer and Director, has served as chief investment officer of B. Riley Financial (Nasdaq: RILY) and as president of B. Riley Principal Investments, LLC since September 2019 and September 2018, respectively. Mr. Shribman helps oversee the asset base of B. Riley Financial alongside chief executive officer Bryant Riley. Shribman has served as a member of the board of directors of Alta Equipment Group Inc. (NYSE: ALTG) since February 2020, when it completed its business combination with B. Riley Principal Merger Corp., where Mr. Shribman was chief financial officer. Mr. Shribman brings experience in both public and private equity to Eos. Prior to joining B. Riley, Mr. Shribman was a Portfolio Manager at Anchorage Capital Group, L.L.C., a special situation asset manager, from 2010 to 2018.
• Dr. Krishna Singh, is the founder of Holtec International, a diversified energy technology company with nine major operations centers in seven countries on five continents, where he has served as president and chief executive officer since 1986. Dr. Singh has been active in the nuclear power industry since 1971 and is a widely-published author in with over 70 technical papers, one textbook and numerous symposia volumes. He is a prolific inventor with and a prolific inventor (119 patents granted, many pending). In addition to Holtec International, Dr. Singh serves on numerous advisory boards in the energy industry including the Nuclear Energy Institute and the University of California Nuclear Engineering Department. Dr. Singh also serves as a member of the board of overseers at the University of Pennsylvania School of Engineering and Applied Science and a director of the Washington DC Atlantic Counsel.
• Russell Stidolph has served as a director since 2014 and the chairman of the board of Eos since 2018. Mr. Stidolph is the founder AltEnergy, LLC a private equity firm focused on alternative energy investing, where he has served as Managing Director since 2006. Prior to forming AltEnergy, Mr. Stidolph was a Principal at J.H. Whitney & Co., LLC a middle-market private equity firm based in New Canaan, Connecticut. While at J.H. Whitney Mr. Stidolph was responsible for starting and developing the firm’s alternative energy investing practice where he was responsible for Hawkeye Renewables, LLC and Iowa Winds, LLC. Mr. Stidolph was both the Chief Financial Officer and Vice Chairman of Hawkeye Renewables, LLC before it was sold in 2006 to Thomas H. Lee Partners, LP. Prior to joining J.H. Whitney, Mr. Stidolph was a member of the corporate finance group at PaineWebber, Inc., that was responsible for high yield and leverage finance origination. Mr. Stidolph also acted as Senior Vice President and the Chief Financial Officer of Tres Amigas, LLC and he still sits on the Company’s Board of Directors, and was Chairman of the board of directors of Viridity Energy, Inc before it was sold to Ormat Technologies in 2017.
• Marian “Mimi” Walters, is Chief Commercial Officer for Leading Edge Power Solutions, LLC since November 2019. She is a former Member of the U.S. House of Representatives (the “House”) from California’s 45^th District where she worked on key legislation, business and policy initiatives related to energy, technology, environmental and healthcare and served from 2015 to 2019. As a member of the leadership of the House, Ms. Walters served on the influential Energy and Commerce Committee, and was a member of the Communications and Technology, Digital Commerce and Consumer Protection, and Oversight and Investigations subcommittees. Prior to her election to the, Ms. Walters was a member of the California State Senate, from 2008 to 2012 in the 33rd district and from 2012 to 2015 in the 37^th district, where she served on the Banking and Financial Institutions Committee and was Vice Chair of the Appropriations Committee. She previously served in the California State Assembly, and mayor and council member for the City of Laguna Niguel. Prior to her career in public service, Ms. Walters was an investment professional at Drexel Burnham Lambert and Kidder, Peabody & Co.
• Audrey Zibelman, is Managing Director and Chief Executive Officer of the AEMO, responsible for overseeing AEMO’s strategy, operations and administrative functions. Ms. Zibelman also serves on the CSIRO Energy Advisory Committee, the Melbourne Energy Institute’s Advisory Board, and as a Director of the Melbourne Recital Centre and the Advanced Energy Economy Institute. Ms. Zibelman has extensive experience in the public, private and not-for profit energy and electricity sectors in the United States. Prior to joining AEMO in March 2017, her roles included Chair of the New York State Public Service Commission (“NYPSC”), from August 2013 to March 2018, Executive Vice President and Chief Operating Officer of system operator PJM from January 2008 to February 2013, executive roles with Xcel Energy, from 1992 to 2004, one of the United States largest integrated gas and electricity utilities and served on a number of energy industry advisory groups and Boards. During her tenure at the NYPSC, Ms. Zibelman led the design and implementation of extensive regulatory and retail market changes to modernize and transform the state’s electricity industry under New York Governor Andrew M. Cuomo’s ‘Reforming the Energy Vision’ plan. A recognized national and international expert in energy policy, markets and Smart Grid innovation, Ms. Zibelman is a Founder and past President and CEO of Viridity Energy, Inc., which she formed after more than 25 years of electric utility industry leadership experience in both the public and private sectors. Previously, Ms. Zibelman was the Executive Vice President and Chief Executive Officer of GO15 member organization, PJM, a regional transmission organization responsible for operating the power grid and wholesale power market which serves fourteen states across the eastern United States. Ms. Zibelman also held legal and executive positions at Xcel Energy, served as General Counsel to the New Hampshire Public Utilities Commission, and was Special Assistant Attorney General in the Minnesota Attorney General’s Office. During her career, Ms. Zibelman has served on numerous industry-related and non-profit boards, including, but not limited to the Midwest and Mid-Atlantic Reliability Councils. Ms. Zibelman’s board experience also includes Advisor to Secretary of Energy for the U.S. Department of Energy and Advisory Council, New York State Energy Research and Development Authority, the New York State Planning Board and the New York State Emergency Planning Council.

As previously announced, BMRG, a publicly traded special purpose acquisition company, and Eos have entered into a definitive merger agreement for a business combination that would result in Eos becoming a publicly listed company. Upon closing of the transaction, the combined company will be renamed Eos Energy Enterprises, Inc. (“Eos Energy”) and intends to list its shares of common stock on Nasdaq under the ticker symbol “EOSE”.

About Eos Energy Storage LLC

At Eos, we are on a mission to accelerate clean energy by deploying stationary storage solutions that can help deliver the reliable and cost-competitive power that the market expects in a safe and environmentally sustainable way. Eos has been pursuing this opportunity since 2008 when it was founded. Eos has more than 10 years of experience in battery storage testing, development, deployment, and operation. The Eos Aurora® system integrates Eos’ aqueous, Znyth® technology to provide a safe, scalable, and sustainable alternative to lithium-ion. https://eosenergystorage.com

About B. Riley Principal Merger Corp. II

BMRG was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Additional Information about the Business Combination

In connection with the business combination, BMRG has filed a definitive proxy statement with the United States Securities and Exchange Commission (“SEC”). BMRG stockholders and other interested persons are advised to read the definitive proxy statement, in connection with BMRG’s solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed business combination, because the proxy statement will contain important information about BMRG, Eos and the proposed business combination. The definitive proxy statement has been mailed to BMRG stockholders as of the record date of October 22, 2020 for voting on the proposed business combination. Stockholders can obtain copies of the proxy statement, without charge, at the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by BMRG, when and if available, can be obtained free of charge by directing a written request to B. Riley Principal Merger Corp. II, 299 Park Avenue, 21st Floor, New York, New York 10171 or by telephone at (212) 457-3300.

For Eos Energy Storage LLC

Investors
Ed Yuen
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media
Balki G. Iyer
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--SANDRIDGE PERMIAN TRUST (OTC Pink: PERS) today announced a quarterly distribution for the three-month period ended September 30, 2020 (which primarily relates to production attributable to the Trust’s royalty interests from June 1, 2020 to August 31, 2020) of approximately $1.7 million, or $0.033 per unit. The Trust makes distributions on a quarterly basis on or about the 60th day following the completion of each quarter. The distribution is expected to occur on or before November 25, 2020 to holders of record as of the close of business on November 13, 2020.

During the three-month production period ended August 31, 2020, combined sales volumes were lower than the previous period while oil prices increased. As no additional development wells will be drilled, the Trust’s production is expected to decline each quarter during the remainder of its life.

As previously disclosed, commencing with the distribution to unitholders paid in the first quarter of 2019, the Trustee has withheld, and in the future intends to withhold, the greater of $190,000 or 3.5% of the funds otherwise available for distribution each quarter to gradually increase existing cash reserves by a total of approximately $2,275,000. The withholding for this distribution is $190,000. This cash is reserved to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust.

As previously disclosed, on October 13, 2020, Avalon Energy, LLC (“Avalon”), the sponsor of the Trust, notified the Trustee that Avalon had entered into a purchase and sale agreement with Montare Resources I, LLC (“Montare”) for the sale of certain wells, the production from which is burdened by overriding royalty interests held by the Trust (the “Overriding Royalty Interests”). As permitted under the Amended and Restated Trust Agreement governing the Trust, the Assets have been sold to Montare unburdened by the Trust’s Overriding Royalty Interests, and the Trust has received approximately $4.9 million for the Royalty Interests released by the Trustee in connection with the sale of the Assets. These proceeds will be distributed by the Trust, less any withholdings as determined by the Trustee, to unitholders with the quarterly distribution, if any, for the three-month period ending December 31, 2020 (which primarily relates to production attributable to the Trust’s royalty interests from September 1, 2020 to November 30, 2020) in accordance with the terms of conveyances granting the Overriding Royalty Interests to the Trust. Such distribution is expected to occur in late February 2021.

The Trust owns Overriding Royalty Interests in specified oil and natural gas wells located on properties situated in the Central Basin Platform of the Permian Basin in Andrews County, Texas (the “Underlying Properties”), and is entitled to receive proceeds from the sale of production attributable to the Overriding Royalty Interests. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil, natural gas and natural gas liquids prices, and the amount and timing of the Trust’s administrative expenses, among other factors. All Trust unitholders share distributions on a pro rata basis.

As previously reported in the Trust’s Form 8-K filed on April 23, 2020, Avalon informed the Trustee that Avalon would be unable to pay on a timely basis the approximately $4.65 million it owes the Trust, which reflects the quarterly distribution amount for the three-month period ended March 31, 2020 (which primarily relates to production attributable to the Trust’s interests from December 1, 2019 to February 29, 2020) of approximately $3.73 million, or $0.071 per unit, together with approximately $0.73 million of Trust expenses and $0.19 million to be withheld by the Trustee for the Trust’s previously disclosed cash reserve for future known, anticipated or contingent expenses or liabilities of the Trust. Consequently, the Trustee was not able to make the quarterly distribution to unitholders in the second quarter of 2020. In accordance with the terms of the conveyances granting the Trust its Overriding Royalty Interests (the “Conveyances”), the unpaid amount owed the Trust will accrue interest at the rate of interest per annum publicly announced from time to time by The Bank of New York Mellon Trust Company, N.A. at its “prime rate” in effect at its principal office in New York City until paid to the Trust. Avalon has informed the Trustee that Avalon intends to make the payment of the May 2020 distribution to the Trust, with interest in accordance with the Conveyances, when funds are available to do so. The Trustee intends to monitor the situation closely and, if appropriate, may take legal action against Avalon to enforce the Trust’s rights under the Conveyances.

As previously reported in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Trust’s Quarterly Report on Form 10-Q for the period ended June 30, 2020, the World Health Organization characterized the outbreak of a novel strain of the coronavirus (“COVID-19”) as a pandemic, which has resulted in the implementation of a series of public health and emergency measures to combat the spread of COVID-19. These measures have adversely affected general commercial activity, the economies and financial markets of many countries and localities, and global demand for oil and natural gas. The duration and impact of COVID-19 is unknown at this time and it is not possible to reliably estimate the impact that these developments will have on future periods. The impact of the COVID-19 pandemic on crude oil consumption and the resulting build-up in inventories combined with the sharp decline in commodity prices following the announcement of price reductions and production increases in March 2020 by members of the Organization of Petroleum Exporting Countries (“OPEC+”) and other foreign, oil-exporting countries has created uncertainty in the oil and gas industry. Although OPEC+ has since agreed to certain production cuts, prices in the oil and gas market have remained depressed, as the oversupply and lack of demand in the market persist. Oil and natural gas prices are expected to continue to be volatile as a result of the near-term production instability and the ongoing COVID-19 outbreak and as changes in oil and natural gas inventories, industry demand and global and national economic performance are reported. As a result of price volatility, Avalon has seen a deterioration in cash flows from the Underlying Properties.

Volumes, average prices and distributable income available to unitholders for the period were (dollars in thousands, except average prices and per unit):

Pursuant to Internal Revenue Code Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to non-U.S. persons (“ECI”) should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to non-U.S. persons should be made at 30% of gross income unless the rate is reduced by treaty. This is intended to be a qualified notice by SandRidge Permian Trust to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b), and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold at the highest marginal rate on the distribution made to non-U.S. persons. The Tax Cuts and Jobs Act (the “TCJA”) enacted in December 2017 treats a non-U.S. holder’s gain on the sale of Trust units as ECI to the extent such holder would have had ECI if the Trust had sold all of its assets at fair market value on the date of the exchange. The TCJA also requires the transferee of units to withhold 10% of the amount realized on the sale of exchange of units (generally, the purchase price) unless the transferor certifies that it is not a nonresident alien individual or foreign corporation. Pending the finalization of proposed regulations under IRC Section 1446, the IRS has suspended this new withholding obligation with respect to publicly traded partnerships such as the Trust, which is classified as a partnership for federal and state income tax purposes.

This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of this provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, the Trustee’s planned withholding of funds to increase cash reserves for future known, anticipated or contingent expenses or liabilities of the Trust, expectations regarding the ability of Avalon to make the payment of the amount it owes to the Trust for quarterly distribution for the three-month period ended September 30, 2020 (which primarily relates to production attributable to the Trust’s interests from June 1, 2020 to August 31, 2020), the impact of COVID-19 on the global economy, the timing of payment of the expected amount relating to the May 2020 distribution together with interest thereon, possible actions by the Trustee to enforce the Trust’s rights under the Conveyances, and the amount and date of any future distributions to unitholders of the Trust. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Avalon with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will be significantly and negatively impacted by prevailing low commodity prices, which could remain low for an extended period of time or decline further. In addition to the recent collapse of oil prices and the worldwide collapse of demand for oil, recent announcements by Saudi Arabia and Russia to abandon output restraints, and the economic effects of the COVID-19 pandemic, other important factors that could cause actual results to differ materially and adversely impact distributions to unitholders include lease operating expenses related to the operation of the Underlying Properties, expenses of the Trust, and reserves made by the Trust for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither Avalon nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in common units issued by the Trust is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, its Quarterly Report on Form 10-Q for the period ended June 30, 2020, and all of its other filings with the SEC. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.

SandRidge Permian Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555

DUBLIN--(BUSINESS WIRE)--The "Oilfield Integrity Management Market by Management Type (Planning, Predictive Maintenance & Inspection, Corrosion Management, Data Management, and Monitoring System), Component (Hardware, Software, Services), Application, & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global oilfield integrity management market size is projected to grow from an estimated USD 12.8 billion in 2020 to USD 18.8 billion by 2025, at a CAGR of 8.1% from 2020 to 2025.

The growth of this market is driven by the increasing focus of oilfield operators to enhance their productivity by reducing downtime required in maintenance activities. Also, the oil and gas discoveries across the globe are likely to fuel market growth. North America accounted for the largest market share in 2019. The growth of the North American oilfield integrity management market is driven by rise in shale gas & tight oil production, favorable regulations related to the licensing of exploration & production activities, and an increase in oilfield discoveries in Gulf of Mexico.

The onshore segment is expected to hold the largest share of the oilfield integrity management market, by application, during the forecast period.

Onshore wells are widely drilled across the world, with more oil & gas production potential from regions such as the Middle East, North America, Africa, and Asia Pacific. The demand for oilfield integrity management is high in the onshore application segment as new well drilling activities are rising in onshore locations at a faster pace than in the offshore fields. In addition, the cost incurred in onshore oilfield activities is less compared to the offshore application.

Middle East & Africa: The fastest market for oilfield integrity management.

The Middle East & Africa is the fastest-growing market for oilfield integrity management, followed by North America and Europe. According to Baker Hughes' rig count report, the total onshore rig count experienced a 1% Y-o-Y decline from 2017 to 2018. Additionally, the rig to well ratio is very low in the region. This shows that there are very few new drilled wells in the region, and the production activities are highly concentrated in the mature fields. Hence, enhancement of production and any developments on these mature fields/wells are expected to drive the oilfield integrity management market during the forecast period.

Market Dynamics

Drivers

• Increasing Focus On Remote Monitoring Of Oilfields For Process Optimization And Automation
• Stringent Government Regulations Regarding Environmental Safety

Restraints

• Fluctuations In Oil Prices Are Hampering Operational Spending On Various Oilfield Services
• High Initial Cost And Complex Process Of System Installation

Opportunities

• Digitalization In Oilfields
• Increasing Exploration And Production Activities In Emerging Countries

Challenges

• Interoperability Of Multiple System Components From Different Solution Providers
• Impact Of Covid-19 On Upstream Activities

Companies Mentioned

• Stars
• Pervasive
• Baker Hughes Company
• Schlumberger
• Halliburton
• Wood Group
• AKER Solutions
• SGS
• Oceaneering International
• Technipfmc
• Emerson
• Saipem
• Subsea 7
• Weatherford International
• Siemens
• Intertek Group
• Applus+
• National Oilwell Varco
• Bureau Veritas
• Oracle
• IBM
• Fluor
• Nalco Champion
• China Oilfield Services
• Archer
• Expro Group
• ABB
• DNV GL
• Microsoft
• Accenture
• SAP
• Intel

For more information about this report visit https://www.researchandmarkets.com/r/p1sbkk

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

Doosan GridTech, a global smart grid technology provider, will examine how V2G chargers will impact grid resiliency at SnoPUD’s Arlington Microgrid site.

SEATTLE--(BUSINESS WIRE)--Snohomish County PUD (SnoPUD) has engaged Doosan GridTech to integrate two electric vehicle-to-grid chargers within its distributed energy resource management system (DERMS) designed by Doosan. Located at SnoPUD’s Arlington Microgrid site, the V2G stations can charge the vehicle and allow for the energy stored to flow back to the grid and provide support during an outage. The pilot program’s primary objective is to examine the effects of this two-way interface. Deployed in SnoPUD’s control center, Doosan’s flagship DERMS software, DERO®, has been actively integrating and optimizing distributed energy resources since 2017.

Since the self-contained Arlington Microgrid is required to be connected to the broad grid network during normal operations, the DERO® platform will also be updated to control and dispatch the microgrid’s energy storage system as well as the electric vehicle charging stations.

“Snohomish PUD has been collaborating with Doosan on smart grid enhancements since 2012 when we worked with them to design their pioneering distributed energy resource management system,” said John Haarlow, SnoPUD’s CEO/General Manager. “We see this as an important step in our 'utility of the future' vision and for SnoPUD to be one of the premier utilities in the country. We are excited to help our customers maximize the value of owning an electric vehicle as well as being able to leverage other distributed energy resources as they are brought on to our system.

“We look forward to working again with Doosan and appreciate their expertise in artificial intelligence. This study is the next level of progression to assure that we have the right systems in place to meet SnoPUD’s and our customers’ needs.”

Doosan will also partner with Awesense, a Canadian software company that accelerates the energy transition through data. Their digital energy platform will be integrated with the DERO control management system to enable more granular insight into the distributed energy resources, V2G devices and other assets involved in the project. The goal is to provide DERO and SnoPUD users with accurate, real-time data and analytics to aid their decision-making and scale the technology.

“We are honored that Snohomish PUD has asked us to collaborate on the updates to our DERO platform to help them further prepare for grid resiliency,” said Troy Nergaard, Doosan GridTech’s CEO. “I am happy that we can capitalize on our recent ground-breaking DERMS development with Austin Energy and bring some of that learning to SnoPUD. Now we can raise the bar on incorporating proven artificial intelligence advancements that fit the needs of SnoPUD’s progressive thinking about future grid requirements, especially in the face of the expanding V2G frontier.”

The Arlington Microgrid will focus on disaster recovery and grid resiliency. The solar + storage system is designed and sized to provide power to SnoPUD’s Arlington Community Office during an outage. When the microgrid isn’t acting like a giant solar-powered emergency generator, it will recover some of its costs by providing renewable energy integration and grid support through Doosan’s DERMS platform.

Snohomish County PUD is the second-largest publicly owned utility in Washington. We serve over 350,000 electric customers and about 21,000 water customers. Our service territory covers over 2,200 square miles, including all of Snohomish County and Camano Island.

Doosan GridTech® is an award-winning team of power system engineers, software developers and turnkey energy storage specialists. We help electric utilities and other megawatt-scale power producers evaluate, procure, integrate and optimize energy storage, solar power and other distributed energy resources. Our multi-disciplined teams in Seattle, Melbourne, and Seoul have designed, built and/or controlled over 30 energy storage installations in the Americas and Asian-Pacific regions – representing 310 MW of capacity. Ranked as one of the top energy storage solution providers by Navigant Research and Bloomberg New Energy Finance, we are the proud recipients of two Grid Innovation Awards from GreenTech Media. www.doosangridtech.com

Awesense is a Canadian software company that accelerates the energy transition through data. Working with customers worldwide, they have helped utilities decarbonize, decentralize, and digitalize their systems for over a decade. Their award-winning digital energy platform unlocks energy and geospatial data to leverage analytics, visualizations, DERMS and other assets across the organization.

Media Contact:

Troy Nergaard
Chief Executive Officer
Doosan GridTech
This email address is being protected from spambots. You need JavaScript enabled to view it.

Shape strategic responses through the phases of industry recovery.

BP Plc, Chevron Corp., and China National Petroleum Corp. will emerge as major gear oil market participants during 2020-2024.

LONDON--(BUSINESS WIRE)--#GearOilMarket--The gear oil market is expected to grow by USD 1.14 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the gear oil market in optimistic, probable, and pessimistic forecast scenarios.

The gear oil market will witness Neutral and At par impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.

Enterprises will go through Respond, Recover and Renew phases. Download free report sample

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.

This post-pandemic business planning research will aid clients to:

• Adjust their strategic planning to move ahead once business stability kicks in.
• Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
• Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure. Click here

Key Considerations for Market Forecast:

• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates

Gain instant access to 17,000+ market research reports by using

Technavio's SUBSCRIPTION platform

Major Gear Oil Market Participants:

• BP Plc
• Chevron Corp.
• China National Petroleum Corp.
• China Petroleum & Chemical Corp.
• Exxon Mobil Corp.
• FUCHS PETROLUB SE
• Idemitsu Kosan Co. Ltd.
• PJSC LUKOIL
• Royal Dutch Shell Plc
• TOTAL SA

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ gear oil market-industry-analysis

Gear Oil Market 2020-2024: Segmentation

Gear Oil is segmented as below:

• End-user
  • Transportation, and
  • Industrial
• Geography
  • North America
  • Europe
  • APAC
  • MEA
  • South America

The gear oil market is driven by growing demand for fully synthetic gear oil. In addition, other factors such as growing demand for gear oil from wind turbine applications is expected to trigger gear oil market toward witnessing a CAGR of almost 3% during the forecast period.

Get more insights about the global trends impacting the future of Gear Oil Market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40872

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/

HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for its fiscal quarter ended September 30, 2020.

– Net loss and Adjusted EBITDA¹ improved 36% vs Q2

– Net debt reduction of $4 million along with an increase in liquidity

– Momentum grew across Q3 with monthly sequential revenue and EBITDA increases

Consolidated Financial Highlights

Revenues increased $3.9 million, or 13%, to $34.6 million in Q3, from $30.7 million in Q2. Revenue increases took place in the High Specification Rigs and Completion and Other Services segments.

Net loss decreased $3.2 million, from a net loss of $8.9 million in Q2, to a net loss of $5.7 million in Q3. The decrease in the net loss was largely driven by increased revenues and a reduction in depreciation and general and administrative expenses, partially offset by an increase in cost of services.

Adjusted EBITDA¹ increased $1.2 million from $3.2 million in Q2 to $4.4 million in Q3.

CEO Comments

“This has proven to be a successful quarter for Ranger. Q3 appears to have marked the bottom of this most recent downturn with US land drilling rig and frac spread counts down 15% and 10%, respectively, as compared to Q2. However, we performed counter to these data points delivering sequential increases in revenue, EBITDA and margin.

I am very proud of the job that our team continues to deliver. Their efforts in providing excellent services to our outstanding customer base, while demonstrating disciplined cost control, again led to top performing results in a very challenging market.

While the current market conditions continue to challenge the sustainability of many OFS companies, Ranger's performance shows that we are clearly on a different path; every month of Q3 yielded improving consolidated results, our balance sheet remains strong with a modest $20 million of term debt, and our liquidity position is up approximately 40% from the late Q2 low point. This desirable set of metrics allows us to focus on our customers, our performance and our strategic options further fueling Ranger's growth and success.

It is definitely too early to point to a broad market recovery, however within our segments and select basins we are experiencing significant positive trends. These improvements include month over month increases in High Specification Rig hours and rates, an increase in active wireline units, and additional contract opportunities from customers scheduled to add frac crews in late Q4 or early 2021. Also, our Processing Solutions group has been growing a significant backlog of bid opportunities. While we still have a long road ahead of us, we are optimistic about the future and have now moved into the fourth quarter with great momentum.

In regards to our strategic initiatives, our efficient operating model continues to prove successful as demonstrated through our consistent margin performance across 2020. Our focus on top-tier clients is yielding a growing high-quality revenue stream with additional contract opportunities ahead of us. Finally, while the acquisition and merger environment remains opportunity rich, we continue to maintain a disciplined approach; focusing on delivering clear value to our shareholders while minimizing any risk to our strong balance sheet.”

Business Segment Financial Results

High Specification Rigs

High Specification Rigs segment revenue increased by $3.1 million to $14.5 million in Q3 from $11.4 million in Q2 2020. The increase in revenues was driven by a 23% increase in rig hours to 30,200 hours in Q3 from 24,600 hours in Q2. The hourly average rig rate increased $17, or 4%, to $480 in Q3 from $463 in Q2 on customer mix shift.

Operating loss decreased by $1.5 million to a loss of $2.4 million in Q3 from a loss of $3.9 million in Q2. Adjusted EBITDA increased 41%, or $0.7 million, to $2.4 million in Q3 from $1.7 million in Q2. The decrease in operating loss and increase in Adjusted EBITDA was primarily attributable to an increase in revenues, partially offset by increased cost of services. The operating loss was further impacted by a reduction of depreciation expense.

Completion and Other Services

Completion and Other Services segment revenue increased by $1.2 million to $18.9 million in Q3 from $17.7 million in Q2 2020. The increase in revenue for the quarter is attributable to the wireline business.

Operating income increased $0.4 million to $2.2 million in Q3 from $1.8 million in Q2. Adjusted EBITDA increased 9%, or $0.4 million, to $5.0 million in Q3 from $4.6 million in Q2. The increase in operating income and Adjusted EBITDA was driven by increased revenues, partially offset by increased cost of services related to wireline services.

Processing Solutions

Processing Solutions revenue decreased $0.4 million to $1.2 million in Q3 from $1.6 million in Q2 2020. The decrease was driven primarily by a reduction in service revenue along with reduced MRU utilization, within the segment.

Operating income increased $0.3 million to income of $0.2 million in Q3 from a loss of $0.1 million in Q2. Adjusted EBITDA decreased 25%, or $0.3 million, to $0.9 million in Q3 from $1.2 million in Q2. The increase in operating income was driven by reductions in depreciation expense.

Liquidity

We ended the quarter with $13.8 million of liquidity, consisting of $10.4 million of capacity available on our revolving credit facility and $3.4 million of cash. The Q3 cash ending balance of $3.4 million compares to $6.0 million at the end of Q2 2020. Currently, our liquidity approximated $14.0 million.

Debt

We ended Q3 with aggregate net debt of $24.4 million, a reduction of $3.6 million as compared to $28.0 million at the end of Q2.

We had an outstanding draw on our revolving credit facility of $3.0 million at the end of Q3 compared to $5.0 million at the end of Q2. During the quarter, we made aggregate payments of $5.3 million on the principal credit facility balance, partially offset by borrowings of $3.3 million.

We had an outstanding balance on our Encina Financing Agreement of $22.7 million at the end of Q2 and we made aggregate payments of $2.5 million during Q3, leaving a principal balance of $20.2 million at the end of Q3.

Capital Expenditures

Total capital expenditures recorded during the quarter were $0.6 million. High Specification Rigs segment incurred $0.2 million in capital expenditures related to miscellaneous equipment, while Completion and Other Services and Processing Solutions segments both incurred $0.1 million each. Maintenance capital expense across all segments was $0.2 million for the quarter.

Conference Call

The Company will host a conference call to discuss its Q3 2020 results on October 23rd, 2020 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). To join the conference call from within the United States, participants may dial 1-833-255-2829. To join the conference call from outside of the United States, participants may dial 1-412-902-6710. When instructed, please ask the operator to join the Ranger Energy Services, Inc. call. Participants are encouraged to login to the webcast or dial in to the conference call approximately ten minutes prior to the start time. To listen via live webcast, please visit the Investor Relations section of the Company’s website, http://www.rangerenergy.com.

An audio replay of the conference call will be available shortly after the conclusion of the call and will remain available for approximately seven days. It can be accessed by dialing 1-877-344-7529 within the United States or 1-412-317-0088 outside of the United States. The conference call replay access code is 10147911. The replay will also be available in the Investor Resources section of the Company’s website shortly after the conclusion of the call and will remain available for approximately seven days.

About Ranger Energy Services, Inc.

Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Ranger also provides services necessary to bring and maintain a well on production. The Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, Natural Gas Liquid stabilizer and storage units and related equipment.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “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. These forward-looking statements represent Ranger’s 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 Ranger’s 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, Ranger does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Ranger to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our filings with the Securities and Exchange Commission. The risk factors and other factors noted in Ranger’s filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement.

RANGER ENERGY SERVICES, INC.
SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES
(UNAUDITED)

Adjusted EBITDA is not a financial measure determined in accordance with GAAP. We define Adjusted EBITDA as net income (loss) before net interest expense, income tax provision (benefit), depreciation and amortization, equity-based compensation, acquisition-related and severance costs, impairment of goodwill, gain or loss on sale of assets and certain other items that we do not view as indicative of our ongoing performance.

We believe Adjusted EBITDA is a useful performance measure because it allows for an effective evaluation of our operating performance when compared to our peers, without regard to our financing methods or capital structure. We exclude the items listed above from net income or loss in arriving at Adjusted EBITDA because these amounts can vary substantially within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income or loss determined in accordance with GAAP. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are reflected in Adjusted EBITDA. Our presentation of Adjusted EBITDA should not be construed as an indication that our results will be unaffected by the items excluded from Adjusted EBITDA. Our computations of Adjusted EBITDA may not be identical to other similarly titled measures of other companies. The following tables present reconciliations of net income (loss) to Adjusted EBITDA, our most directly comparable financial measure calculated and presented in accordance with GAAP.

The following tables are a reconciliation of net income or loss to Adjusted EBITDA for the three months ended September 30, 2020 and June 30, 2020, in millions:

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

Clean Energy Leaders ENGIE, Nextracker, Consumers Energy, Swinerton, and More Recognized on Stage During the Virtual Conference

ARLINGTON, Va.--(BUSINESS WIRE)--#SPICon--The Cleanie Awards®, the #1 awards program dedicated to the cleantech industry, announced its 2020 winners today at Solar Power International (SPI), Energy Storage International (ESI), and North America Smart Energy Week. The awards program recognizes the movers and shakers who are driving innovation and leadership in the clean energy industry.

Despite the ongoing global pandemic, the clean energy industry continued to grow, innovate, and drive markets forward, making this year’s program the most competitive in the awards history. The awards program saw double-digit increases in the number of submissions and a 200% increase in sponsors from 2019.

“We are extremely proud to recognize this year’s movers and shakers, who truly inspire others in the broader cleantech community,” said Randee Gilmore, executive director, The Cleanie Awards. “The increase in the number of submissions is incredible given the challenging times with the global pandemic. This shows how much the industry needs a recognition program like this, and our potential to continue growing year over year.”

The full list of 2020 The Cleanie Award winners is as follows:

Company of the Year

• Enterprise: ENGIE North America
• Midsize: Nextracker

Keep the Power On

New this year — an award for utilities going above and beyond to keep the power on during COVID-19.

• Consumers Energy 

Community Giveback

New this year — an award for corporations going above and beyond to support their communities in light of COVID-19.

• Swinerton Renewable Energy

Woman of the Year

• 1st place: Susan Nickey, Hannon Armstrong
• Honorable Mention: Mona Dajani, Pillsbury Law

Rising Star Under 40

• 1st place: Lee Taylor, REsurety, Inc.
• Honorable Mention: Emily Arnold, 8minute Solar Energy

Representatives from each winning organization were recognized by The Cleanie Awards’ Advisory Council members, judges, and sponsors: Solar Power Events, Solar Energy Industries Association (SEIA), American Solar Energy Society (ASES), Energy Storage Association (ESA), Solar Electric Power Alliance (SEPA), Women of Renewable Industries and Sustainable Energy (WRISE), American Wind Energy Association (AWEA), American Solar Grazing Association (ASGA), and Energy News Network (ENN).

“I am honored to once again sit amongst other leaders in clean technology on the judging panel for The Cleanie Awards,” said Chris Vlahoplus, internal advisor at ScottMadden. “I have been involved in the program since its beginning three years ago, and the applications continue to get better and better year over year. I speak on behalf of all of the judges when I say how excited I am to recognize the newest inductees into The Cleanie Awards winners circle! You should be incredibly proud and humbled by your accomplishments. You stood out from a highly competitive pool of submissions.”

Visit www.thecleanieawards.com to learn more about the program and sign up for notifications about next year’s application process.

About The Cleanie Awards®

The Cleanie Awards® is the first comprehensive awards program exclusive to the cleantech industry. It generates much needed visibility for innovators and disruptors in the industry who are creating life- and planet-changing solutions. The campaigns recognized by the award program aim to influence public opinion about technologies delivering on the promise of a clean energy future.

Randee Gilmore, Executive Director, The Cleanie Awards
This email address is being protected from spambots. You need JavaScript enabled to view it.

Report Expands on Methane Emissions Reductions, Community Relations and Biodiversity Programs

HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) announced today the publication of its 2019 Environmental, Social and Governance (ESG) report. This report builds on our vision as a company to deliver energy to improve lives and create a better world.

“We have provided additional ESG-related metrics throughout our report, including our electricity and renewable energy usage, company-wide air emissions and community investments,” said KMI’s Chief Operating Officer James Holland. “This report is reflective of Kinder Morgan’s safe, efficient and responsible operations and commitment to transparency. We have also included results of physical risk scenario analysis and documented our expanded diversity and inclusion initiatives.”

Kinder Morgan continues to view natural gas as part of the solution for reducing the world’s greenhouse gas emissions (GHG). As detailed in the report, the company has worked to reduce methane emissions throughout the energy value chain, particularly in the midstream sector. In 2016, the company set a goal of achieving an intensity target of 0.31% of methane emissions per unit of throughput by 2025 for its natural gas transmission and storage assets. From 2017 through 2019, KMI was able to achieve a methane emission intensity rate for these operations of 0.04%, 0.02%, and 0.03%, respectively - surpassing its 0.31% target years ahead of schedule. The company has also increased its focus on reducing additional GHG emissions from its operations and has identified and implemented multiple emission reduction projects.

The 2019 Environmental, Social and Governance (ESG) report is available on the Kinder Morgan website at ESG Reports.

About Kinder Morgan, Inc.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 147 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel chemicals, ethanol, metals and petroleum coke. For more information, please visit www.kindermorgan.com.

Important Information Relating to Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning KMI’s business strategy and reduction of greenhouse gas emissions. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the assumptions, risks and uncertainties described in KMI’s Environmental, Social and Governance report and its reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2019 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.

Kinder Morgan Contacts
Media Relations
Airilyn Stecker
(713) 420 - 6701
This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations
(800) 348-7320
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.kindermorgan.com

IRVING, Texas--(BUSINESS WIRE)--Montage Resources Corporation (NYSE:MR) (the “Company” or “Montage”) is pleased to announce that the Company will release third quarter 2020 financial and operational results after the market close on Thursday, November 5, 2020. The Company will not host a conference call or webcast to discuss its third quarter 2020 results due to the pending merger with Southwestern Energy Company.

About Montage Resources

Montage Resources is an exploration and production company with approximately 195,000 net effective core undeveloped acres currently focused on the Utica and Marcellus Shales of Southeast Ohio, West Virginia, and North Central Pennsylvania. For more information, please visit the Company’s website at www.montageresources.com.

Montage Resources Corporation
Douglas Kris, Investor Relations
469-444-1736
This email address is being protected from spambots. You need JavaScript enabled to view it.

LEAWOOD, KS--(BUSINESS WIRE)--TortoiseEcofin today announced that Ingenico Group (Euronext Paris: ING FP) will be removed from the Ecofin Global Digital Payments Infrastructure Index^® (TPMT), effective October 26, 2020, as a result of the acquisition by Worldline SA (Euronext Paris: WLN FP). Index shares of WLN FP will be increased in accordance to the terms of the transaction. The cash portion of the transaction will be invested pro rata among remaining index constituents.

About TortoiseEcofin

TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, please visit www.TortoiseEcofin.com.

The Ecofin Global Digital Payments Infrastructure Index^SM represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/ services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services market places.

The index mentioned above is the exclusive property of TIS Advisors and is calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.

This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.

Safe Harbor Statement

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

Maggie Zastrow
(913) 981-1020
This email address is being protected from spambots. You need JavaScript enabled to view it.

TULSA, Okla.--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (NASDAQ: BKEP and BKEPP), plans to release third quarter 2020 financial results after market close on Wednesday, November 4, 2020.

The Partnership will discuss its third quarter 2020 results during a conference call on Thursday, November 5, 2020, at 10:00 a.m. CST (11:00 a.m. EST). The conference call will be accessible by telephone at 1-855-327-6837. International participants will be able to access the conference call at 1-631-891-4304.

Participants are requested to dial in five to ten minutes before the scheduled start time. An audio replay will be available through the “Investors” section of the Partnership’s website at investor.bkep.com.

About Blueknight Energy Partners, L.P.

Blueknight owns and operates a diversified portfolio of complementary midstream energy assets consisting of:

• 8.8 million barrels of liquid asphalt storage located at 53 terminals in 26 states;
• 6.9 million barrels of above-ground crude oil storage capacity located primarily in Oklahoma, approximately 6.6 million barrels of which are located at the Cushing Interchange terminalling facility in Cushing, Oklahoma;
• 604 miles of crude oil pipeline located primarily in Oklahoma; and
• 63 crude oil transportation vehicles deployed in Oklahoma and Texas.

Blueknight provides integrated terminalling, gathering and transportation services for companies engaged in the production, distribution and marketing of liquid asphalt and crude oil. Blueknight is headquartered in Tulsa, Oklahoma. For more information, visit the Partnership’s website at www.bkep.com.

Blueknight Investor Relations
Chase Jacobson, (918) 237-4032
This email address is being protected from spambots. You need JavaScript enabled to view it.

NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by SDIC Power Holding Co., Ltd. (“SDIC Power”) – a leading power generation company in China, established under the laws of the People’s Republic of China - to act as Depositary Bank for its Global Depositary Receipt (“GDR”) program.

SDIC Power’s GDR program was established in connection with a US$200.6 million initial public offering of its GDRs (or approximately $220.7 million, if the underwriters exercise their over-allotment option in full), priced at US$12.27 per GDR. The GDRs are listed on the Shanghai-London Stock Connect (“SLSC”) segment of the Main market of the London Stock Exchange (“LSE”) under the symbol “SDIC”. Each GDR represents ten A shares. SDIC Power’s A shares are listed and traded on the Shanghai Stock Exchange (“SSE”) under the stock code 600886.

ZHU Jiwei, Chairman of the Company, stated: “We are proud to announce the successful pricing of SDIC Power’s GDR Offering, following the positive response to our company on our recent virtual roadshow from international investors. Our London listing reinforces the global presence of SDIC Power and reflects the company’s expansion from its home market into other regions of Asia and into Western Europe. Enhanced access to international capital markets through the Shanghai-London Stock Connect channel will support SDIC Power’s commitment to continue to invest in, develop and operate clean energy projects, as we implement our global growth strategy.”

“Citi is proud to be appointed as the Depositary Bank for SDIC Power’s LSE Listed GDR Program,” said Dirk Jones, Head of Global Issuer Services at Citi. “Citi has been appointed as the Depositary Bank for all four LSE GDR programs listed thus far. We are committed to providing SDIC Power and its investors with the highest quality services by leveraging our cross-regional capabilities, global network and our experience gained in other SLSC programs.”

Citi is a leading provider of depositary receipt services. With depositary receipt programs in 67 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.

For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Sophia Anthony
Citi Global Public Affairs
Banking, Capital Markets & Advisory Communications
+1 (212) 816-7140
This email address is being protected from spambots. You need JavaScript enabled to view it.

VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or “Company”), an innovator and manufacturer of drilling tool technologies, today announced that it will release its third quarter 2020 financial results before the opening of financial markets on Friday, November 6, 2020.

The Company will host a conference call and webcast that day to review the financial and operating results for the quarter and discuss its corporate strategy and outlook. A question-and-answer session will follow.

Third Quarter 2020 Conference Call

Friday, November 6, 2020
10:00 a.m. Mountain Time (12:00 p.m. Eastern Time)
Phone: (201) 689-8470
Internet Webcast and accompanying slide presentation: www.sdpi.com

A telephonic replay will be available from 1:00 p.m. MT (3:00 p.m. ET) the day of the teleconference until Friday, November 13, 2020. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13710951, or access the webcast replay via the Company’s website at www.sdpi.com, where a transcript will be posted once available.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® well bore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at: www.sdpi.com.

For more information, contact investor relations:
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
This email address is being protected from spambots. You need JavaScript enabled to view it.

LONDON--(BUSINESS WIRE)--#GlobalSubmarineMarket--The global submarine market size is poised to grow by USD 6.22 billion during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The global submarine market is driven by the growing arms race among countries. There is a growing need for countries to improve their underwater combat capabilities due to the number of conflicts involving maritime borders and trade routes. To gain or sustain military supremacy, countries are focusing on developing and procuring the most sophisticated and high-end military platforms such as submarines. Asia's largest defense spender China plans to procure more attack submarines and nuclear-armed submarines in the upcoming years. As of October 2020, it was estimated that China operated a total of 66 submarines, including SSBN, SSN, and SSK. Countries such as Japan, South Korea, Pakistan, Australia, and Taiwan are also making significant investments in this domain. Such initiatives are driving revenue growth in the global submarine market.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Report Highlights:

• The major submarine market growth came from the SSN segment in 2019, and this segment is expected to grow at a significant rate during the forecast period.
• North America was the largest submarine in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the strategic need for deterrent capabilities and the aging and retiring submarines.
• The global submarine market is concentrated. BAE Systems Plc, DSME Co. Ltd., Fincantieri Spa, General Dynamics Corp., Huntington Ingalls Industries Inc., Mitsubishi Heavy Industries Ltd., Naval Group, Saab AB, thyssenkrupp AG, and United Shipbuilding Corp. are some of the major market participants. To help clients improve their market position, this submarine market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global submarine market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Advances in Undersea Warfare will be a Key Market Trend

There are increasing possibilities for undersea attacks as security measures are getting stricter about conventional international borders. Countries that are situated along the coastlines have a need to protect themselves from such threats. Hence, countries are investing in building their maritime defense capabilities in the interest of national security. Of all the other naval platforms, submarines are used for ensuring a high level of naval defense. This is due to its capabilities to launch covert counter attacks and its ability to stay submerged for extended periods without being detected. Thus, advances in undersea warfare is expected to drive the growth of the market.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Submarine Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist submarine market growth during the next five years
• Estimation of the submarine market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the submarine market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of submarine market vendors

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• SSN - Market size and forecast 2019-2024
• SSBN - Market size and forecast 2019-2024
• SSK - Market size and forecast 2019-2024
• Market opportunity by Type

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• BAE Systems Plc
• DSME Co. Ltd.
• Fincantieri Spa
• General Dynamics Corp.
• Huntington Ingalls Industries Inc.
• Mitsubishi Heavy Industries Ltd.
• Naval Group
• Saab AB
• thyssenkrupp AG
• United Shipbuilding Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/

DALLAS--(BUSINESS WIRE)--Energy Transfer Operating, L.P. today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETPprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETPprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETPprE). These cash distributions will be paid on November 16, 2020 to Series C, Series D and Series E unitholders of record as of the close of business on November 2, 2020.

About Energy Transfer

Energy Transfer Operating, L.P. owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, its core operations include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. Energy Transfer Operating, L.P. also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interest and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). Energy Transfer Operating, L.P.’s general partner is owned by Energy Transfer LP (NYSE: ET). For more information, visit the Energy Transfer website at www.energytransfer.com.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in Energy Transfer Operating, L.P.’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic and the recent decline in commodity prices, and we cannot predict the length and ultimate impact of those risks. Energy Transfer Operating, L.P. undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer Operating, L.P.’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer Operating, L.P.’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer Operating, L.P., are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

The information contained in this press release is available on our website at energytransfer.com.

Energy Transfer
Investor Relations:
Lyndsay Hannah, William Baerg, Brent Ratliff, 214-981-0795
or
Media Relations:
Vicki Granado, 214-840-5820

--(BUSINESS WIRE)--#PowerIntegrations--Power Integrations, Inc., is a Silicon Valley-based supplier of high-performance components used in high-voltage power conversion. Our integrated circuits enable compact, energy-efficient AC-DC power supplies for a vast range of electronic products including smartphones, appliances, smart utility meters, LED lights and numerous industrial applications, while our SCALE™ gate drivers are critical components in high-power systems such as solar and wind energy, industrial motor drives, electric vehicles and high-voltage DC transmission lines. Since its introduction in 1998, Power Integrations' EcoSmart® energy-efficiency technology has prevented billions of dollars' worth of energy waste and millions of tons of carbon emissions. Reflecting the environmental benefits of our products, Power Integrations' stock is a component of clean-technology stock indices sponsored by Cleantech Group LLC and Clean Edge. Visit our Green Room for a comprehensive guide to energy-efficiency standards around the world.

HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.111 per unit for the third quarter of 2020 ($0.444 per unit on an annualized basis), the same amount as distributed in the prior quarter. The distribution is payable on November 13, 2020, to unitholders of record at the close of business on November 3, 2020.

Third Quarter 2020 Earnings Release Date and Conference Call Information

The Partnership plans to report third quarter 2020 financial and operating results after market close on Wednesday November 4, 2020. The Partnership will host a conference call and webcast regarding third quarter 2020 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, November 5, 2020.

To listen live over the Internet, participants are advised to log on to the Partnership’s website at www.usdpartners.com and select the “Events & Presentations” sub-tab under the “Investors” tab. To join via telephone, participants may dial (877) 266-7551 domestically or +1 (339) 368-5209 internationally, conference ID 7506289. Participants are advised to dial in at least five minutes prior to the call.

An audio replay of the conference call will be available for thirty days by dialing (800) 585-8367 domestically or +1 (404) 537-3406 internationally, conference ID 7506289. In addition, a replay of the audio webcast will be available by accessing the Partnership's website after the call is concluded.

About USD Partners LP

USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USDG”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.

USDG, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USDG solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG, along with its partner Gibson Energy, Inc., is pursuing long-term solutions to transport heavier grades of crude oil produced in Western Canada through the construction of a Diluent Recovery Unit at the Hardisty terminal, which is expected to be placed into service in the second quarter of 2021. USDG is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on USDG’s website is not part of this press release.

Qualified Notice to Nominees

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to the amount and timing of the Partnership’s third quarter 2020 cash distribution and the business prospects of the Partnership and USDG. Words and phrases such as “plans,” “will,” “pursuing,” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. The current economic downturn and pandemic introduces unusual risks and an inability to predict all risks that may impact the Partnership’s business. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include those as set forth under the heading “Risk Factors” in the Partnership’s most recent Annual Report on Form 10-K and in its subsequent filings with the Securities and Exchange Commission. The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Category: Earnings

Investor Relations Contacts:
Adam Altsuler, (281) 291-3995
Senior Vice President and Chief Financial Officer

Jennifer Waller, (832) 991-8383
Director, Financial Reporting and Investor Relations

LONDON--(BUSINESS WIRE)--#IndustrialAutomationandInstrumentationMarketinIndia--Technavio has been monitoring the industrial automation and instrumentation market in India, operating under the industrials segment. The latest report on the industrial automation and instrumentation market in India, 2020-2024 estimates it to register an incremental growth of USD 2.58 bn, at a CAGR of over 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download Latest Free Sample Report on COVID-19 Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., General Electric, Honeywell International Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, and Siemens AG are among some of the major market participants.

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

The growing shift toward lean manufacturing has been instrumental in driving the growth of the market. However, high upfront and upgrade costs might hamper the market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Download a Free Sample Report on COVID-19 Impacts

Industrial Automation and Instrumentation Market in India 2020-2024: Segmentation

Industrial Automation and Instrumentation Market in India is segmented as below:

• Product
  • Industrial Automation
  • Industrial Instrumentation
• End-user
  • Process Industry
  • Discrete Industry

Based on product segmentation, over 61% of the market’s growth originated from the industrial automation segment during the forecast period. In addition, the process industry led the market share in the end-user segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial automation and instrumentation market size in India.

Industrial Automation and Instrumentation Market in India 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial automation and instrumentation market in india report covers the following areas:

• Industrial Automation and Instrumentation Market in India Size
• Industrial Automation and Instrumentation Market in India Trends
• Industrial Automation and Instrumentation Market in India Industry Analysis

This study identifies the simplification of manufacturing through automation as one of the prime reasons driving the industrial automation and instrumentation market growth in India during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Industrial Automation and Instrumentation Market in India 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist industrial automation and instrumentation market growth in India during the next five years
• Estimation of the industrial automation and instrumentation market size in India and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial automation and instrumentation market in India
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial automation and instrumentation market vendors in India

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product placement
• Industrial automation - Market size and forecast 2019-2024
• Industrial instrumentation - Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by End-user

• Market segments
• Comparison by End-user placement
• Process industry - Market size and forecast 2019-2024
• Discrete industry - Market size and forecast 2019-2024
• Market opportunity by End-user

Customer landscape

• Overview

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Eaton Corp. Plc
• Emerson Electric Co.
• General Electric
• Honeywell International Inc.
• Robert Bosch GmbH
• Rockwell Automation Inc.
• Schlumberger Ltd.
• Schneider Electric SE
• Siemens AG

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/