EAST AURORA, N.Y.--(BUSINESS WIRE)--The Board of Directors of Moog Inc. (NYSE: MOG.A and MOG.B) has declared a quarterly dividend of $.26 per share on the Company’s issued and outstanding shares of Class A common stock and Class B common stock. The dividend will be paid on May 31, 2022 to all shareholders of record as of the close of business on May 13, 2022.

The dividend represents a use of cash of approximately $8 million. Future declarations of quarterly dividends are subject to the determination and discretion of Moog’s Board of Directors.

About Moog

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at www.moog.com.

Ann Marie Luhr
716-687-4225

HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) today reported first quarter 2022 revenues of $1.55 billion, an increase of 2 percent compared to the fourth quarter of 2021 and an increase of 24 percent compared to the first quarter of 2021. Net loss for the first quarter of 2022 was $50 million, or 3.2 percent of sales, which included $45 million of Other Items (see Corporate Information for additional details). Adjusted EBITDA (operating profit excluding depreciation, amortization, gain and loss on sales of fixed assets, and, when applicable, Other Items) increased sequentially to $103 million, or 6.7 percent of sales. See reconciliation of Adjusted EBITDA to Net Income (Loss).

“NOV’s financial results continued to improve through the first quarter of 2022, as the Company benefited from better execution and improving pricing,” stated Clay Williams, Chairman, President, and CEO. “Our teams more efficiently navigated through raw material shortages, freight disruptions, and inflation, which intensified in many areas during the quarter due to further lockdowns and the conflict in Eastern Europe. Higher commodity prices are prompting greater activity among producers, who are now faced with oilfield service constraints brought about by years of underinvesting. Two years of cost- and infrastructure-cutting through the pandemic lockdown and persistent supply chain disruptions are challenging the sector’s ability to add production quickly in response to the higher commodity prices.”

“Nevertheless, global oilfield activity is slowly rising with growing urgency, and this helped drive another quarter of strong orders for the Company with book-to-bill once again exceeding 100 percent. While NOV has a ways to go to achieve our desired financial results, the first quarter demonstrated clear, continued progress. With our innovative portfolio of technology and products, global team of talented individuals and strong financial position, NOV stands ready to help the industry confront these challenges as we advance into the emerging oilfield up-cycle.”

Wellbore Technologies

Wellbore Technologies generated revenues of $608 million in the first quarter of 2022, an increase of 6 percent from the fourth quarter of 2021 and an increase of 47 percent from the first quarter of 2021. Operating profit was $39 million, or 6.4 percent of sales, and included $23 million of Other Items. Adjusted EBITDA increased $13 million sequentially and $67 million from the prior year to $101 million, or 16.6 percent of sales. Growing global drilling activity, a better sales mix, and improved pricing, partially offset by ongoing supply chain related challenges, drove the improvement in results.

Completion & Production Solutions

Completion & Production Solutions generated revenues of $530 million in the first quarter of 2022, a decrease of 3 percent from the fourth quarter of 2021 and an increase of 21 percent from the first quarter of 2021. Operating loss was $22 million, or 4.2 percent of sales, and included $16 million in Other Items. Adjusted EBITDA increased $8 million sequentially and $14 million from the prior year to $10 million, or 1.9 percent of sales. Despite the improvement in adjusted EBITDA margins, the segment remains challenged by continuing supply chain issues and operational disruptions in shipyards.

New orders booked during the quarter totaled $339 million, representing a book-to-bill of 110 percent when compared to the $308 million of orders shipped from backlog. As of March 31, 2022, backlog for capital equipment orders for Completion & Production Solutions was $1.36 billion, an increase of 6 percent from the fourth quarter of 2021 and an increase of 68 percent from the first quarter of 2021.

Rig Technologies

Rig Technologies generated revenues of $441 million in the first quarter of 2022, an increase of 2 percent from both the fourth quarter of 2021 and the first quarter of 2021. Operating profit was $11 million, or 2.5 percent of sales, and included $6 million of Other Items. Adjusted EBITDA increased $15 million sequentially and $23 million from the prior year to $36 million, or 8.2 percent of sales. A more favorable sales mix, cost savings initiatives, and improved pricing drove the improvement in profitability.

New orders booked during the quarter totaled $236 million, representing a book-to-bill of 124 percent when compared to the $190 million of orders shipped from backlog. The segment also recorded a positive $80 million adjustment to backlog, primarily related to contractual inflationary price index adjustments. As of March 31, 2022, backlog for capital equipment orders for Rig Technologies was $2.89 billion.

Corporate Information

During the first quarter, the Company recognized $45 million of Other Items due primarily to impairment and other charges associated with the Company's operations in Russia, Belarus and Ukraine, and restructuring costs, net of related credits. See reconciliation of Adjusted EBITDA to Net Income (Loss).

As of March 31, 2022, the Company had total debt of $1.71 billion, with $2.00 billion available on its primary revolving credit facility, and $1.41 billion in cash and cash equivalents.

Significant Achievements

NOV was awarded a large equipment package for a new wind power installation vessel. This award, which includes a jacking system, heavy-lift crane, and a special barge handling system, is part of an innovative concept that is expected to improve offshore wind farm economics by using a specially designed feeder barge system that will improve installation process efficiencies by up to 30% compared to conventional vessels. The Jones Act compliant solution is contracted to operate in U.S. waters.

NOV conducted successful trials of surface automation technology with two major national oil company customers in the Middle East. Both trials utilized NOV’s NOVOS drilling automation platform in combination with MDTotco’s™ Kaizen™ drilling optimization AI-based application and set drilling time field records, yielding an average 35% reduction in days-to-drill in comparison to offset wells.

NOV’s MPowerD™ managed pressure drilling (MPD) product line, augmented by the recent acquisition of AFGlobal’s Advanced Drilling Systems™ business, rapidly expanded its market presence during the first quarter. NOV installed and commissioned an MPD upgrade package integrated with the Company's NOVOS™ drilling system for a deepwater rig preparing to go back to work in Latin America. NOV also delivered an MPD package for a deepwater rig operated by an international drilling contractor in the Gulf of Mexico. Additionally, NOV helped drill the first well on an offshore jack-up rig in Norway utilizing NOV’s J-Series™ rotating control device (RCD) and MPD manifold integrated with the NOVOS operating system, drilling two-hole sections that required MPD capability at a cost and pace that exceeded customer expectations.

NOV partnered with a large Asian shipyard to secure a contract for a pre-Front End Engineering and Design (pre-FEED) study for a European energy major aiming to develop floating wind power projects in South Korea with NOV’s proprietary Tri-Floater and mooring designs. This pre-FEED award positions NOV to participate in the upcoming FEED study and to compete for the eventual 1.6-gigawatt project planned by the South Korean government, which intends to increase the amount of renewable power to 20 percent of total domestic energy generation as part of its Renewable Energy 2030 plan.

NOV received a major order for Fiberspar™ 6-inch reinforced thermoplastic pipe 1500-series product from an engineering services provider for Phase B of the Northern Arabia unconventional gas field development in Turaif, Saudi Arabia. This is the third major order of NOV's premium pipe product for this development, reaffirming the close technical and working collaboration between the customer and NOV.

NOV received significant bookings for its recently launched Mach 1™ Horizontal Pumping System (HPS). Each Mach 1 HPS is designed to extend operational life, reduce maintenance, and offer flexible, easy deployment in unpredictable site conditions. Pre-wired with NOV's GoConnect™ equipment monitoring solution and Guardian™ automation and control, this pump gives operators the ability to capture, visualize, and analyze data in real-time, monitor conditions, and automate flow to enhance site safety and optimize production.

NOV received multiple orders for the Valkyrie™ abandonment system from an oil and gas production company in the Netherlands for onshore decommissioning projects. Using high-frequency hydraulic pulses, the Valkyrie abandonment system creates a permanent, high-quality cement bond that allows operators to abandon wells safely and efficiently. The protective barrier reduces the amount of pipe that operators must retrieve from the well, creates a positive environmental impact, and minimizes costs without sacrificing the integrity of the abandoned well.

First Quarter Earnings Conference Call

NOV will hold a conference call to discuss its first quarter 2022 results on April 29, 2022 at 10:00 AM Central Time (11:00 AM Eastern Time). The call will be broadcast simultaneously at www.nov.com/investors. A replay will be available on the website for 30 days.

About NOV

NOV (NYSE: NOV) delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures that management believes are useful tools for internal use and the investment community in evaluating NOV’s overall financial performance. These non-GAAP financial measures are broadly used to value and compare companies in the oilfield services and equipment industry. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for financial measures prepared in accordance with GAAP and should therefore be considered only as supplemental to such GAAP financial measures. Please see the attached schedules for reconciliations of the differences between the non-GAAP financial measures used in this press release and the most directly comparable GAAP financial measures.

Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995

Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by NOV with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Certain prior period amounts have been reclassified in this press release to be consistent with current period presentation.

NOV INC.
RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME (LOSS) (Unaudited)
(In millions)

Presented below is a reconciliation of Net Income (Loss) to Adjusted EBITDA. The Company defines Adjusted EBITDA as Operating Profit excluding Depreciation, Amortization, Gains and Losses on Sales of Fixed Assets, and, when applicable, Other Items. Management believes this is important information to provide because it is used by management to evaluate the Company’s operational performance and trends between periods and manage the business. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company’s results of ongoing operations. Adjusted EBITDA is not intended to replace GAAP financial measures, such as Net Income. Other Items include impairment, restructure, severance, facility closure costs and inventory charges and credits.

Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) today declared a quarterly dividend of 34 cents per share on the outstanding common shares of the company, payable on July 1, 2022, to shareholders of record at the close of business on June 2, 2022.

This second quarter 2022 dividend compares with the first quarter 2022 dividend of 34 cents per share.

Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the petroleum industry. The company has paid dividends every year for over a century and has increased its annual dividend payment for 27 consecutive years.

Source: Imperial

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Investor relations
(587) 476-4743

Media relations
(587) 476-7010

HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for its fiscal quarter ended March 31, 2022.

– Quarterly revenues of $123.6 million increased $0.5 million from $123.1 million in Q4 despite weather and supply chain related delays early in the quarter

– High-Spec Rig revenue grew 9% or $5.4 million sequentially with an operating income increase of $6.8 million to $7.7 million in Q1 from $0.9 million in Q4

– Capital structure simplification complete with Class A common stock our sole outstanding equity

Consolidated Financial Highlights

Quarterly revenues of $123.6 million increased $0.5 million from $123.1 million in Q4. The revenue increase is attributable to the High Specification Rigs and Processing Solutions and Ancillary Services reporting segments.

Net loss of $5.7 million decreased $30.1 million from a net income of $24.4 million in Q4. The net income decrease is attributable to the $37.2 million bargain purchase gain related to the Basic Energy Asset Acquisition in the prior quarter, partially offset by a decrease in general and administrative costs.

Adjusted EBITDA⁽¹⁾ of $9.6 million increased $0.5 million from $9.1 million in Q4. The increase was driven by the increased gross profit margins attributable to the High-Spec Rig reporting segment, partially offset by a reduction to the Wireline gross profit margin.

CEO Comments

Stuart Bodden, the Company’s Chief Executive Officer, stated, “We are excited about our Q1 results, and in particular the velocity of the business as we exited the first quarter. The Ranger management team has been working diligently to integrate our recent acquisitions, and we made significant strides during Q1 in building right-sized and efficient operations in each of our service lines. We have also remained focused on the sale of excess assets, and we launched a concerted effort in Q1 to improve our working capital balance. All of these efforts are paying off, particularly as we move out of Q1 and into Q2.

We experienced seasonal and supply chain related issues during January and February, but Ranger finished Q1 with a strong quarterly revenue run rate of $140 million and corporate EBITDA margin of 10%. Moving into Q2, we continue to see increasing demand and a constructive pricing environment across all service lines, which, along with operational improvements in the business, are setting Ranger up for a very strong second quarter and second half of the year. Although we have experienced weather related delays in April, particularly in our Northern operations, we expect Q2 revenue to be between $135 million and $145 million with corporate EBITDA margins ranging between 10% and 12%. For full year 2022, we are increasing our guidance for revenue to be between $540 million and $580 million with full year EBITDA margins of 11% to 13%. We continue to target 15% EBITDA margins by year end.

As noted, we remain focused on excess asset sales and launched an effort in early Q1 to reduce working capital. Relative to the end of Q1, as of today we have reduced Term Loan B by $5 million and reduced our revolver draw by $13 million, for a total net debt reduction of $18 million. These improvements will be reflected in our Q2 results. Coupled with the strong performance of the business, by early 2023 we expect Ranger will have term debt of $10 million to $15 million, no revolver draw, and a positive cash balance. Depending on market conditions and availability of accretive deals, we intend to either build cash reserves in preparation for additional M&A or consider paying dividends.”

Business Segment Financial Results

High Specification Rigs

High Specification Rigs segment revenue increased by $5.4 million to $64.9 million in Q1 from $59.5 million in Q4 2021. Rig hours increased to 112,500 hours in Q1 from 111,600 hours in Q4. The increase in rig hours was coupled with an increase of $44, or 8%, in the hourly average rig rate to $577 in Q1 from $533 in Q4.

Operating income increased by $6.8 million to $7.7 million in Q1 from $0.9 million in Q4. Adjusted EBITDA increased 60%, or $5.3 million, to $14.1 million in Q1 from $8.8 million in Q4. The increase in operating income and Adjusted EBITDA was largely the result of the ongoing sequential increase in hourly rig rates.

Wireline Services

Wireline Services segment revenue decreased by $6.2 million to $38.6 million in Q1 from $44.8 million in Q4 2021. The decrease in revenue was primarily attributable to a decline of 2,500 completed stage counts from 9,900 in Q4 to 7,400 in Q1.

Operating loss increased $1.5 million to a loss of $4.5 million in Q1 from a loss of $3.0 million in Q4. Adjusted EBITDA decreased $2.8 million, to a loss of $1.8 million in Q1 from earnings of $1.0 million in Q4. The increase in operating loss and decrease in Adjusted EBITDA was driven by decreased profit margins within the completions business, attributable to the reduction in revenues as described above.

As discussed during last quarter’s earnings call, Wireline Services’ Q1 performance was impacted by both supply chain and labor utilization issues. We are making significant adjustments on several fronts and are seeing positive impacts. The segment exited Q1 with positive Adjusted EBITDA margins and we are expecting further margin growth though Q2 and the balance of the year.

Processing Solutions and Ancillary Services

Processing Solutions and Ancillary Services segment revenue increased by $1.3 million to $20.1 million in Q1 from $18.8 million in Q4 2021. The increase in revenue was attributable to the coil tubing line of business.

Operating income decreased $1.1 million to $1.3 million in Q1 from $2.4 million in Q4. Adjusted EBITDA decreased 8%, or $0.3 million, to $3.3 million in Q1 from $3.6 million in Q4. The decrease in operating income and Adjusted EBITDA was driven by decreased gross profit margins. The sequential margin decrease is attributable primarily to low January utilization levels.

Liquidity

We ended the quarter with $10.2 million of liquidity, consisting of $6.4 million of capacity on our revolving credit facility and $3.8 million of cash.

Our current liquidity is approximately $24.2 million, which is comprised of total loan borrowing capacity of $55.9 million, partially offset by borrowings of $32.1 million and cash on hand of $0.4 million.

Debt

We ended Q1 with aggregate net debt of $92.5 million, an increase of $8.6 million, as compared to $83.9 million at the end of Q4 2021. The increase is attributable to additional borrowings from our revolving credit facility, slightly offset by payments made to term debt.

We ended Q1 with aggregate adjusted net debt⁽¹⁾ of $79.9 million, an increase of $8.7 million, as compared to $71.2 million at the end of Q4. Of our total debt balance, we consider $31.0 million to be term debt.

We had an outstanding balance on our revolving credit facility of $44.8 million at the end of Q1 compared to $27.0 million at the end of Q4.

Our current principal balance under our revolving credit facility and term loan B are $32.1 million and $6.1 million, respectively, which compares to the $44.8 million and $11.0 million at the end of Q1, resulting in total principal reductions of $17.6 million.

Conference Call

The Company will host a conference call to discuss its Q1 2022 results on April 29, 2022 at 8:30 a.m. Central Time (9:30 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 7210015. 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 one of the largest providers of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry. Our services facilitate operations throughout the lifecycle of a well, including the completion, production, maintenance, intervention, workover and abandonment phases.

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)

Note Regarding Non‑GAAP Financial Measure

The Company utilizes certain non-GAAP financial measures that management believes to be insightful in understanding the Company’s financial results. These financial measures, which include Adjusted EBITDA and Adjusted Net Debt, should not be construed as being more important than, or as an alternative for, comparable U.S. GAAP financial measures. Detailed reconciliations of these Non-GAAP financial measures to comparable U.S. GAAP financial measures have been included below and are available in the Investor Relations sections of our website at www.rangerenergy.com. Our presentation of Adjusted EBITDA and Adjusted Net Debt should not be construed as an indication that our results will be unaffected by the items excluded from the reconciliations. Our computations of these Non-GAAP financial measures may not be identical to other similarly titled measures of other companies.

Adjusted EBITDA

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, book values of assets, capital structures and the method by which the assets were acquired. 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.

We define Adjusted EBITDA as net income or loss before net interest expense, income tax provision or benefit, depreciation and amortization, equity‑based compensation, acquisition-related, severance and reorganization costs, gain or loss on disposal of assets, and certain other non-cash and certain items that we do not view as indicative of our ongoing performance.

The following tables are a reconciliation of net income or loss to Adjusted EBITDA for the three months ended March 31, 2022 and December 31, 2021, in millions:

Net Debt and Adjusted Net Debt

We believe Net Debt and Adjusted Net Debt are useful performance measures of liquidity, financial health and provides an indication of our leverage. We define Net Debt as current and long-term debt, finance leases, other financing obligations, offset by cash and cash equivalents. We define Adjusted Net Debt as Net Debt, less a facility financing lease, to be analogous to the calculation of certain financial covenants. All debt and other obligations present the principal balances outstanding as of the respective periods.

The following tables are a reconciliation of consolidated debt and cash and cash equivalents to Net Debt and Adjusted Net Debt as of March 31, 2022 and December 31, 2021:

J. Brandon Blossman
Chief Financial Officer
(713) 935-8900
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DENVER--(BUSINESS WIRE)--Liberty Energy Inc., formerly known as Liberty Oilfield Services Inc. (NYSE: LBRT; “Liberty” or the “Company”), announced today the pricing of the previously announced underwritten public secondary offering (the “Offering”) of an aggregate of 14,500,000 shares of its Class A common stock by Schlumberger Technology Corporation (the “Selling Stockholder”).

The underwriters intend to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The Offering is expected to close on May 3, 2022, subject to customary closing conditions. Liberty will not sell any shares of Class A common stock in the Offering and will not receive any proceeds therefrom.

BofA Securities and J.P. Morgan are acting as joint bookrunning managers for the Offering.

The Offering is being made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form S-3. Before investing, prospective investors should read the prospectus supplement, the accompanying base prospectus and the documents incorporated by reference therein for more complete information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and the accompanying base prospectus related to this Offering may be obtained by contacting BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-001, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it., or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Toll-free: 1-866-803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful without registration or qualification under the securities laws of any such state or jurisdiction.

About Liberty

Liberty is a North American oilfield services firm that offers completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011. Liberty is headquartered in Denver, Colorado.

Forward-Looking and Cautionary Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein concerning, among other things, Liberty’s expectations concerning the Offering, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our 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 certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the SEC. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do 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 us to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in “Item 1A. Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC on February 22, 2022, in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 as filed with the SEC on April 25, 2022 and in our other public filings with the SEC. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements.

Liberty Energy Inc.
Michael Stock
Chief Financial Officer
(303) 515-2851
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HOUSTON--(BUSINESS WIRE)--Waste Management (NYSE: WM) (“WM” or the “Company”) today announced that it has priced a public offering of $1,000,000,000 aggregate principal amount of its 4.15% senior notes due April 15, 2032 under an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). The notes will be fully and unconditionally guaranteed by the Company’s wholly owned subsidiary, Waste Management Holdings, Inc. The notes have been assigned ratings of A- by Standard & Poor’s, BBB+ by Fitch and Baa1 by Moody’s.

The offering is expected to close on May 12, 2022, subject to the satisfaction of closing conditions. The Company intends to use the net proceeds from the offering to redeem its $500 million aggregate principal amount of 2.90% Senior Notes due 2022 and for general corporate purposes. This press release does not constitute a notice of redemption under the indenture governing the 2.90% Senior Notes due 2022.

Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., MUFG Securities Americas Inc., Scotia Capital (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, BNP Paribas Securities Corp. and SMBC Nikko Securities America, Inc. are acting as joint book-running managers of the offering. In addition, Truist Securities, Inc., U.S. Bancorp Investments, Inc., Academy Securities, Inc., Cabrera Capital Markets, LLC, CastleOak Securities, L.P., CAVU Securities, LLC, MFR Securities, Inc. and Stern Brothers & Co. are acting as co-managers of the offering. Copies of the final prospectus supplement and related prospectus for this offering may be obtained by visiting EDGAR on the SEC website at www.sec.gov or, upon request, from any of the joint book-running managers at: Barclays Capital Inc., by mail: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by phone at 1-888-603-5847 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Inc., by mail: Attn: Prospectus Department, 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, by phone at 1 (800) 294-1322 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Deutsche Bank Securities Inc., by mail: Attn: Prospectus Group, 1 Columbus Circle, New York, NY 10019 or by phone at 1-800-503-4611; MUFG Securities Americas Inc., by mail: Attention: Capital Markets Group, 1221 Avenue of the Americas, 6th Floor, New York, NY 10020 or by phone at 1-877-649-6848; or Scotia Capital (USA) Inc., by mail: 250 Vesey Street, New York, NY 10281 or by phone at 1 (800) 372-3930.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The notes will be offered only by means of a prospectus, including the prospectus supplement relating to the notes, and any free writing prospectus prepared by or on behalf of us, each of which meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.

ABOUT WASTE MANAGEMENT

WM, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in Waste Management’s most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q.

Analysts
Ed Egl
713.265.1656
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Media
Toni Werner
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Expanding the Benefits of Enterprise-Scale AI: Agile, Collaborative Development to Extract Maximum Value from Data

HOUSTON--(BUSINESS WIRE)--Regulatory News:

Schlumberger today announced it has expanded its global INNOVATION FACTORI network with the inauguration of a new center in Oslo, Norway.

“At INNOVATION FACTORI, customer teams will benefit from an agile, collaborative development approach with our domain and data science experts to address their strategic demands, such as drilling automation, digital twins for production optimization, and carbon capture and storage modeling,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “Through INNOVATION FACTORI, customers can turn promising concepts into fully deployed digital solutions that extract maximum value from data to drive a major leap in business performance and, in turn, sustainability.”

Schlumberger customers will gain access to a powerful machine learning platform with market leading AI capabilities. Through its partnership with Dataiku, a world leader in “Every Day AI,” Schlumberger will empower its customers to leverage a single, centralized platform to design, deploy, govern, and manage AI and analytics applications.

Schlumberger’s INNOVATION FACTORI network expansion comes after its successful inauguration of two AI centers in the Americas, one in Rio, Brazil, and a recently opened AI center in Houston, Texas. These centers compliment the global network of experts in Abu Dhabi, Beijing and Kuala Lumpur.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “aspire,” “aim,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies and partnerships. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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All Proceeds Benefit the Zero Emissions Campaign, DriveH2.org

LOS ANGELES--(BUSINESS WIRE)--#VRAI--DriveH2.org, the public service initiative by environmental nonprofit Energy Independence Now (EIN), will be the beneficiary of an online charity auction featuring an array of one-of-a-kind items and experiences.

The DriveH2.org Charity Auction is currently live and anyone can participate by visiting https://www.charitybuzz.com/support/EnergyIndependenceNow.

Over the next two weeks, participants can bid on:

• A pickleball lesson with "the pickleball coach to the stars," Matt "McNasty" Manasse, and a custom state-of-the-art pickleball paddle crafted by Wilson for Manasse's legendary Sunday crew: Larry David, Ashley Underwood, Ria Berkus Jim Berkus, Joel Silver, Ari Emanuel, Sarah Staudinger, Izzy Thomas, who have all signed the paddle.

• A car-lovers’ dream package that includes taking a ride in the Scuderia Cameron Glickenhaus Boot 008 off-road racer prototype; enjoying a meal with Jim and Jesse Glickenhaus; a private, behind-the-scenes tour of the Petersen Automotive Museum; and a ride-along in the legendary Jaguar XKSD once owned by Steve McQueen (separate link at “Bring a Trailer” available here: https://bringatrailer.com/listing/2022-experience-ridealong-in-glickenhaus-boot-jaguar-xkss/)

• A stunning VRAI diamond tennis bracelet. VRAI’s conflict-free diamonds are sustainably grown in their zero-emission foundry in America.

• VIP runway tickets to Los Angeles Fashion Week this October. These tickets include a VIP chauffeured driving experience in a zero-emission Toyota Mirai and seats on the runway.

• An exclusive bottle of Wolves Whiskey 2021 Quail Run. Quail Run 2021 has never been released to the public. Wolves Whiskey produced 250 bottles of its signature blend, titled “The Quail Run,” and wrapped each bottle in the same Napa leather used by Porsche in its interiors.

• An intimate, memorable, and in-depth tasting experience like no other at Evening Land Vineyards' Seven Springs in Oregon! The lucky winner will also receive a magnum-sized bottle of La Source Pinot Noir, signed by Raj Parr and Sashi Moorman.

All proceeds will benefit the DriveH2.org campaign to promote a zero-emission, hydrogen powered future via public-facing activations and educational programs.

Learn more about the DriveH2 movement at www.driveh2.org, or follow EIN’s story and updates across all social media platforms at @DriveH2

About EIN and the DriveH2.org Campaign

DriveH2.org is a public service initiative by Energy Independence Now (EIN), an environmental nonprofit committed to educating the world about the benefits of hydrogen fuel cell electric vehicles. The organization engages in comprehensive research, policy advocacy and public outreach to promote the widespread adoption of a diverse zero emissions portfolio.

Paul Williams, (310) 569-0023, This email address is being protected from spambots. You need JavaScript enabled to view it.

Expanding the Benefits of Enterprise-Scale AI: Agile, Collaborative Development to Extract Maximum Value from Data

HOUSTON--(BUSINESS WIRE)--Schlumberger today announced it has expanded its global INNOVATION FACTORI network with the inauguration of a new center in Oslo, Norway.

“At INNOVATION FACTORI, customer teams will benefit from an agile, collaborative development approach with our domain and data science experts to address their strategic demands, such as drilling automation, digital twins for production optimization, and carbon capture and storage modeling,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “Through INNOVATION FACTORI, customers can turn promising concepts into fully deployed digital solutions that extract maximum value from data to drive a major leap in business performance and, in turn, sustainability.”

Schlumberger customers will gain access to a powerful machine learning platform with market leading AI capabilities. Through its partnership with Dataiku, a world leader in “Every Day AI,” Schlumberger will empower its customers to leverage a single, centralized platform to design, deploy, govern, and manage AI and analytics applications.

Schlumberger’s INNOVATION FACTORI network expansion comes after its successful inauguration of two AI centers in the Americas, one in Rio, Brazil, and a recently opened AI center in Houston, Texas. These centers compliment the global network of experts in Abu Dhabi, Beijing and Kuala Lumpur.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “aspire,” “aim,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies and partnerships. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
This email address is being protected from spambots. You need JavaScript enabled to view it.

Todd Cencimino, Jon Chesser, Catherine Cochrane, Marc Devos, Ed Latimer, Lucas Reed and Amy Straquadine named company shareholders

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Wilson & Company, Inc., Engineers & Architects has named seven esteemed individuals as the newest employee shareholders to join the ownership group. In 2003, Wilson & Company expanded its ownership structure and transitioned from a partnership to employee shareholders. These professionals will join the 40 existing employees as a part of the shareholder group.

Todd Cencimino, PE, serves as the company’s transportation operations manager with more than 25 years of experience in planning, design, and construction phases of project development. Cencimino has an extensive background working with municipal, state, and federal agencies, making him an invaluable asset in growing the company’s transportation services.

“Todd has been instrumental in our success and growth in Arizona over the past couple of years, and we are excited that he is now one of Wilson & Company’s shareholders. Todd’s strong technical, client management and leadership skills will serve him well as he continues to grow our business in Arizona,” said Edward Cordova, PE, vice president.

Jon Chesser manages Wilson & Company’s environmental program throughout Colorado and executes work in the transportation, railroad, and municipal industries. Chesser has extensive experience in the public and private sectors, making him an expert in delivering environmental management, clearance, and permitting services for private and public clients at the federal, state, and local levels.

“Jon’s approach to resolving challenges throughout his career, utilizing a strategic, clear communication style, has always served him well as a leader and is one of the reasons we have been lucky to have Jon be part of our organization. That same style and approach will now serve him, and the company well as a shareholder of Wilson & Company,” said Scott Waterman, PE, vice president.

Catherine Cochrane serves as Wilson & Company’s controller and oversees the accounting and finance department’s activities. Cochrane has more than 20 years of experience in the architecture and engineering industry as an accounting professional in various roles.

“As Wilson & Company’s controller, Catherine has responsibility for leading and managing our accounting and payroll functions. Her leadership and unwavering commitment to her team, her colleagues, and our culture of Higher Relationships, while keeping our company’s best interest a priority, is a testament to her being named a shareholder,” said Jim Ross, chief financial officer and senior vice president.

Marc Devos, PE, is a senior transportation engineer with more than 30 years of experience in the industry. His expertise includes project management for municipal, state, and private projects focusing on the design of highways, roadways, freight rail, and transit facilities.

“Repeat business is the best way to be successful in our industry, and I don’t know that I’ve ever worked with a leader that defines repeat business better on the most challenging projects Wilson & Company takes on. Regardless of the challenge, Marc has a way of finding a path forward for clients, and now that will serve him and Wilson & Company well as a shareholder,” said Scott Waterman, PE, vice president.

Ed Latimer, PH.D., PE, is an accomplished leader with 35 years of experience in the architecture, engineering, and construction industry. Latimer’s areas of expertise include water resources engineering, water quality regulatory compliance, irrigation engineering, and erosion and sediment control technologies.

“Ed Latimer has been instrumental to our Arizona growth vision by putting into place our Higher Relationships principles and practices. It is a great reflection of his commitment to the firm through this successful leadership,” said Steve Salazar, PE, vice president.

Lucas Reed, PE, is a civil engineer and project manager for Wilson & Company’s railroad division with 10 years of design experience in railroad, highway and roadway, structural, drainage, and construction oversight. Reed’s railroad experience includes Class I railroads, shortlines, trans-loading and intermodal facilities, and transit authorities throughout the U.S.

“Lucas has been and continues to be instrumental in anchoring and building Wilson & Company’s California presence. His exemplary relationships within Wilson & Company and externally with clients is a testament to his character and One Company leadership qualities. Wilson & Company is proud Lucas has joined us in ownership and we are looking forward to building a great future with him,” said Andrew Leifheit, PE, SE, senior vice president.

Amy Straquadine is the company’s senior human resources manager with more than 10 years of experience. Straquadine holds a master’s degree in human resources management from the University of New Mexico. She has worked at Wilson & Company since 2014.

“Amy’s leadership and commitment to Wilson & Company and our employees’ welfare and professional growth is evident in her everyday actions, communication and collaboration. Over the last two years, she was key in successfully leading us through a personal and tumultuous time, while fulfilling her human resource and recruiting responsibilities as senior human resources manager,” said Jim Ross, CFO and senior vice president.

Shareholders are leaders at Wilson & Company that are consistent with our purpose, exemplify Higher Relationships and support a “One Company” culture. To learn more about Wilson & Company’s services and core values, visit https://www.wilsonco.com/.

About Wilson & Company, Inc., Engineers & Architects
Wilson & Company, Inc., Engineers & Architects, has brought more than 600 people together in 15 offices over nine states to build Higher Relationships through discipline, intensity, collaboration, shared ownership and solutions with our clients, partners and communities. After nearly nine decades of business, professionals continue to hone their craft with us including civil, mechanical, electrical and structural engineering; architecture; planning; biology; surveying; mapping; GIS specializations; drone piloting; financial analyses; program and construction management; inspecting and a growing number of multi-disciplinary specialties. We seek to create value for a diverse client base, including federal and municipal governments, public transportation agencies, railroad companies, industrial and commercial corporations and private developers.

More at wilsonco.com | LinkedIn | Facebook | Twitter

Emily Clark
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DUBLIN--(BUSINESS WIRE)--The "Lubricants Market Research Report by Base Oil (Bio-based Oil, Mineral Oil, and Synthetic Oil), Product Type, End-Use Industry, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Lubricants Market size was estimated at USD 131.10 billion in 2021, USD 136.93 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.62% to reach USD 171.98 billion by 2027.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Lubricants Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Lubricants Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Lubricants Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Lubricants Market?

4. What is the competitive strategic window for opportunities in the Global Lubricants Market?

5. What are the technology trends and regulatory frameworks in the Global Lubricants Market?

6. What is the market share of the leading vendors in the Global Lubricants Market?

7. What modes and strategic moves are considered suitable for entering the Global Lubricants Market?

Market Dynamics

Drivers

• Increasing usage of high-performance synthetic lubricants
• Growing demand for bio-based lubricants
• Expanding cold chain market and growing wind energy sector

Restraints

• Increasing raw material cost

Opportunities

• High growth in manufacturing sectors, such as 3D printing & medical devices
• Growing demand from automotive sector and industrial sector

Challenges

• Strict environmental norms and constant reforms

Companies Mentioned

• Bharat Petroleum Corporation Limited
• BP PLC
• Castrol Limited
• Chevron Corporation
• Eni S.P.A.
• ExxonMobil Corporation
• Fuchs Petrolub AG
• Gulf Oil Lubricants India Ltd
• Idemitsu Kosan Co. Ltd
• Indian Oil Corporation Ltd
• Lubrizol Ltd.
• LUKOIL
• Petrochina Company Limited
• Phillips 66 Company
• Quaker Chemical Corp.
• Royal Dutch Shell PLC
• Sinopec Corp.
• Sinopec Limited
• Total S.A.
• Valvoline Inc.

For more information about this report visit https://www.researchandmarkets.com/r/h1fv07.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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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

SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) today announced that its Board of Directors has declared a first quarter 2022 common unit distribution of $0.40 per unit. The first quarter common unit distribution will be paid on May 13, 2022 to holders of record as of May 9, 2022.

NuStar Energy L.P.’s Board of Directors also declared a first quarter 2022 Series A preferred unit distribution of $0.47817 per unit, a Series B preferred unit distribution of $0.47657 per unit and a Series C preferred unit distribution of $0.56250 per unit. The preferred unit distributions will be paid on June 15, 2022 to holders of record as of June 1, 2022.

A conference call with management is scheduled for 9:00 a.m. CT on Thursday, May 5, 2022, to discuss the financial and operational results for the first quarter of 2022. Investors interested in listening to the discussion may dial toll-free 844/889-7787, passcode 4754807. International callers may access the discussion by dialing 661/378-9931, passcode 4754807. The partnership intends to have a playback available following the discussion, which may be accessed by dialing toll-free 855/859-2056, passcode 4754807. International callers may access the playback by dialing 404/537-3406, passcode 4754807. The playback will be available until 12:00 p.m. CT on June 5, 2022.

Investors interested in listening to the live discussion or a replay via the internet may access the discussion directly at https://edge.media-server.com/mmc/p/viq5tqzk or by logging on to NuStar Energy L.P.’s website at www.nustarenergy.com.

NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 64 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The partnership’s combined system has approximately 57 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/.

This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of NuStar Energy 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 NuStar Energy L.P.’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals and corporations, as applicable. Nominees, and not NuStar Energy L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

NuStar Energy L.P., San Antonio
Investors, Pam Schmidt, Vice President, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314/210-410-8926

DUBLIN--(BUSINESS WIRE)--The "Aircraft Propeller System Market Research Report by Component (Blade, Hub, and Spinner), Engine, End User, Application, Platform, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Aircraft Propeller System Market size was estimated at USD 506.97 million in 2021, USD 544.89 million in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.73% to reach USD 792.72 million by 2027.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Aircraft Propeller System Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Aircraft Propeller System Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Aircraft Propeller System Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Aircraft Propeller System Market?

4. What is the competitive strategic window for opportunities in the Global Aircraft Propeller System Market?

5. What are the technology trends and regulatory frameworks in the Global Aircraft Propeller System Market?

6. What is the market share of the leading vendors in the Global Aircraft Propeller System Market?

7. What modes and strategic moves are considered suitable for entering the Global Aircraft Propeller System Market?

Market Dynamics

Drivers

• Rising demand for lightweight and fuel-efficient aircraft globally
• Increasing number of special light-sport aircraft (SLSA) deliveries worldwide
• Increasing operations in commercial aircraft industry

Restraints

• Lack of efficiency of aircraft using turboprop engines at high altitudes

Opportunities

• Increasing adoption of solar-powered aircraft worldwide
• Technological advancements being carried out in passenger drones

Challenges

• High costs involved in manufacturing aircraft propeller systems

Companies Mentioned

• Aero Products Component Services, Inc.
• Airmaster Propellers Ltd
• AKS Inc
• AMETEK.Inc.
• Arrow Aviation
• FP-propeller Srl
• GE Aviation Systems
• HELICES E-PROPS
• HOFFMANN PROPELLER GmbH & Co. KG
• MT-Propeller Entwicklung GmbH
• Nanchang Sanrui Intelligent Technology Co., Ltd.
• Performance Propellers USA LLC.
• Propeller Aerobotics Pty Ltd
• Ratier Figeac
• Raytheon Technologies Corporation
• Sensenich Propeller Company
• Tennessee Propellers, Inc
• Warp Drive Inc
• Whirl Wind Propellers Corporation
• Woodward, Inc.

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

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

Leading global shipping operator signs definitive agreement to purchase Pacific Northwest operator

PUYALLUP, Wash.--(BUSINESS WIRE)--Westwood Shipping Lines, an independent vessel operator specializing in the trade between the Pacific Northwest and Northeast Asia, today announced that its owner, J-WeSco Ltd., which is a subsidiary of the Sumitomo Warehouse Co Ltd, has signed a definitive agreement with Swire Shipping, a leading operator of liner shipping services in the Asia-Pacific, to acquire the U.S.-based company.

Westwood, founded in 1980, is headquartered in Puyallup, Wash. It serves as a niche operator serving the Japan, Korea, and China markets and ports in Washington state and British Columbia. Sumitomo Warehouse Co., is divesting itself of Westwood as part of a corporate strategy to focus on their core businesses of warehousing, stevedoring, real estate, and logistics, according to Westwood President and CEO Jack Mahoney. The sale is pending regulatory approval and the satisfaction of customary closing conditions.

“This is a win-win for everyone,” Mahoney said. “We are excited about joining the Swire Group because Westwood will now be a shipping company owned by a shipping company, one with a long history and wide Pacific presence. It will allow us to share synergies and tap new resources, expertise, and capabilities to serve our customers.”

Swire Shipping says the acquisition complements its growth strategy to widen its liner network while also vertically integrating many of its shipping services. James Woodrow, Managing Director, Swire Shipping said, “Over the years, we have been looking at strengthening our presence around the region and Westwood, with its excellent safety standards, high quality reputation, cargo handling abilities, and long-term customer relationships, emerged as a strong choice. We know that we will be building on Westwood’s sound business fundamentals, and we look forward to broadening our liner network.”

Jeremy Sutton, Chief Operating Officer, Swire Shipping, said after the closing of the acquisition, Westwood will continue to provide its current services with its strong team of professionals. Westwood will also retain its name.

“We are excited about this new chapter for Westwood and look forward to a bright future with Swire,” Mahoney added.

About Westwood Shipping Lines

Westwood Shipping Lines is an independent vessel operator, specializing in the trade between the Pacific Northwest and North Asia. Its approach to success is its personal service and versatility, combined with reliable schedules and superior cargo handling capabilities to safely transport its customers’ cargo. Oversized cargo, containers, breakbulk, and forest products sail together on the same Westwood ships. Its flexible ship design permits safe and efficient handling of all types of cargo — no matter how bulky or fragile. J-WeSco Ltd, a subsidiary of Sumitomo Warehouse Co Ltd, purchased Westwood Shipping Lines in 2011 from Weyerhaeuser. For more information, please visit www.wsl.com

About Swire Shipping

Swire Shipping is dedicated to facilitating and growing trade in regions where it operates, Swire Shipping provides several high frequency liner shipping services in the Asia Pacific markets, and specialises in providing a wide range of specialist customer solutions for project, heavy lift, refrigerated, breakbulk and mini bulk cargoes. It connects 400 ports via an extensive network of services in the Asia-Pacific and globally, and maintains a worldwide agency network in addition to its own representative offices across the Asia-Pacific, Pacific Islands, North America and Europe, providing its customers with dedicated service and expert market knowledge. For more information, please visit www.swireshipping.com.

Jennifer West
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+1 (509) 475-1855

• Earned $5.5 billion in first quarter 2022; generated $14.8 billion of cash flow from operating activities, more than covering capital investment and shareholder distributions

• Earnings excluding identified items were $8.8 billion, an increase of more than $6 billion versus the first quarter of 2021, after adjusting for a $3.4 billion after-tax charge related to the company's Russia Sakhalin-1 operation

• Announced increase in share repurchase program up to a total of $30 billion through 2023

• Achieved first oil at the Liza Phase 2 development in Guyana; Payara FPSO construction approximately five months ahead of schedule with start-up likely before year-end 2023; announced five new discoveries, increasing the estimated recoverable resource base for the Stabroek block to nearly 11 billion oil-equivalent barrels

• Progressed significant lower-emission opportunities, including plans for a world-scale blue hydrogen plant supported by one of the world's largest carbon capture and storage projects in Baytown, Texas, and received top certification for methane emission management at Poker Lake in the Permian Basin

• Effective April 1, to further capture benefits of technology, scale, and integration, the corporation formed ExxonMobil Product Solutions, combining world-scale Downstream and Chemical businesses, and centralized Technology & Engineering and Operations & Sustainability groups

IRVING, Texas--(BUSINESS WIRE)--In the Chemical section of the release, the first sentence of the fifth bullet, should read: The company is progressing plans to increase its global offer of certified circular polymer with capacity to process up to 500,000 metric tons of plastic waste per year by 2026. (instead of The company is progressing plans to increase its global offer of certified circular polymer with capacity to process up to 500 metric tons of plastic waste per year by 2026.)

The updated release reads:

EXXONMOBIL ANNOUNCES FIRST-QUARTER 2022 RESULTS

• Earned $5.5 billion in first quarter 2022; generated $14.8 billion of cash flow from operating activities, more than covering capital investment and shareholder distributions

• Earnings excluding identified items were $8.8 billion, an increase of more than $6 billion versus the first quarter of 2021, after adjusting for a $3.4 billion after-tax charge related to the company's Russia Sakhalin-1 operation

• Announced increase in share repurchase program up to a total of $30 billion through 2023

• Achieved first oil at the Liza Phase 2 development in Guyana; Payara FPSO construction approximately five months ahead of schedule with start-up likely before year-end 2023; announced five new discoveries, increasing the estimated recoverable resource base for the Stabroek block to nearly 11 billion oil-equivalent barrels

• Progressed significant lower-emission opportunities, including plans for a world-scale blue hydrogen plant supported by one of the world's largest carbon capture and storage projects in Baytown, Texas, and received top certification for methane emission management at Poker Lake in the Permian Basin

• Effective April 1, to further capture benefits of technology, scale, and integration, the corporation formed ExxonMobil Product Solutions, combining world-scale Downstream and Chemical businesses, and centralized Technology & Engineering and Operations & Sustainability groups

Exxon Mobil Corporation (NYSE:XOM):

Exxon Mobil Corporation today announced estimated first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. First-quarter results included an unfavorable identified item of $3.4 billion associated with our planned exit from Russia Sakhalin-1, or $0.79 per share assuming dilution. First-quarter capital and exploration expenditures were $4.9 billion.

Oil-equivalent production was 3.7 million barrels per day, down 4% from the fourth quarter of 2021 due to weather-related unscheduled downtime, planned maintenance, lower entitlements associated with higher prices, and divestments. Excluding entitlement effects, government mandates, and divestments, oil-equivalent production was down 2%.

“The quarter illustrated the strength of our underlying business and significant progress in further developing our competitively advantaged production portfolio,” said Darren Woods, chairman and chief executive officer. “Earnings increased modestly, as strong margin improvement and underlying growth was offset by weather and timing impacts. The absence of these temporary impacts in March provides strong, positive momentum for the second quarter.”

Financial Highlights

• First-quarter earnings of $5.5 billion compared with $8.9 billion in the fourth quarter of 2021. Excluding identified items, earnings of $8.8 billion were slightly higher than the prior quarter, as higher industry prices and margins and reduced expenses were largely offset by a temporary reduction in volumes, unfavorable mark-to-market derivative effects, and price timing impacts.

• First-quarter cash increased by $4.3 billion compared to the fourth quarter of 2021, as strong cash flow from operations more than funded capital investment, additional debt reduction, and shareholder distributions in the quarter. Free cash flow in the quarter was approximately $11 billion.

• With the balance sheet well within the targeted debt-to-capital range of 20-25%, the company initiated its previously announced $10 billion buyback program, repurchasing shares totaling $2.1 billion during the quarter. The company has increased this program and now expects to repurchase up to a total of $30 billion through 2023.

• Effective April 1, to improve the effectiveness of our operations and to better serve our customers, the corporation formed ExxonMobil Product Solutions, combining world-scale Downstream and Chemical businesses, and centralized Technology & Engineering and Operations & Sustainability groups. This new integrated business will be focused on high-value products, improving portfolio value, and leading in sustainability. The new centralized organizations will fully leverage functional expertise and quickly deploy best practices across the globe.

Leading the Drive to Net Zero

• In January, ExxonMobil announced its ambition to achieve net-zero greenhouse gas emissions from operated assets by 2050. This ambition applies to Scope 1 and 2 greenhouse gas emissions and builds on the company’s 2030 emission-reduction plans.

• The company reached a final investment decision to expand carbon capture capacity at its facility in LaBarge, Wyoming, adding up to 1.2 million metric tons to the nearly 7 million metric tons already captured at LaBarge each year.

• ExxonMobil announced plans for its first world-scale blue hydrogen plant in Baytown, Texas. The proposed plant would produce up to 1 billion cubic feet per day of blue hydrogen and include one of the world’s largest carbon capture and storage projects, doubling the company’s industry-leading carbon capture capacity and providing a potential anchor for the ambitious Houston Industrial Hub emissions reduction project.

• The company advanced several renewable fuel initiatives, including planned renewable diesel production through an equity investment in Global Clean Energy Holdings. In partnership with Neste, the company also agreed to deliver sustainable aviation fuel to Virgin Atlantic and Singapore Airlines.

• Earlier this month, ExxonMobil began selling commercial volumes of certified natural gas after MiQ, an independent validator, certified the company’s assets in the Permian Basin with an "A" grade – the highest recognition possible – for its methane and emissions-reduction processes and technology applications. The company plans to expand the certification process to other operations in the United States.

• The company recently announced that Dan Ammann has been appointed president of ExxonMobil Low Carbon Solutions, effective May 1. Ammann previously served as president and CEO of General Motors’ Cruise autonomous vehicle company.

• First-quarter 2022 Upstream earnings of $4.5 billion compared with $6.1 billion in the fourth quarter of 2021. Excluding identified items, earnings were $7.7 billion, an increase of $1.1 billion from the previous quarter, primarily due to higher liquids prices and lower expenses, partly offset by lower volumes driven by weather-related impacts, fewer days in the quarter, price entitlement effects, and divestments. Average realizations for crude oil increased 28%.

• Oil-equivalent production in the first quarter was 3.7 million barrels per day. Excluding entitlement effects, divestments, and government mandates, oil-equivalent production decreased 2% versus the fourth quarter 2021. Liquids volumes were down 119,000 barrels per day, while natural gas volumes were down 132 million cubic feet per day. By the end of the quarter, production had fully recovered from weather-related impacts.

• Relative to the first quarter of 2021, earnings excluding identified items increased $5.2 billion, primarily due to higher industry prices, which were partly offset by lower volumes. Average realizations for crude oil increased 68%, while natural gas realizations increased 137%. Excluding entitlement effects, divestments, and government mandates, oil-equivalent production decreased 2%. Liquids volumes were up slightly, while natural gas volumes were down 721 million cubic feet per day.

• The company is discontinuing operations at the Sakhalin-1 venture (“Sakhalin”). As operator of Sakhalin, the company remains focused on the safety of people, protection of the environment, and integrity of operations. In the first quarter the company recorded a charge of $3.4 billion related to its investment in the project, which is reflected as an identified item and mainly impacts the Upstream segment.

• The Permian Basin continued to improve efficiency and grow production, reaching production of 560,000 barrels per day at the end of the quarter. The company remains on track to deliver a production increase of 25% this year versus full-year 2021, and to eliminate routine flaring by year end.

• In February, the company started production at its second major development offshore Guyana. The successful start-up of the Liza Phase 2 development brought total production capacity to more than 340,000 barrels per day. In early April, ExxonMobil announced it made a final investment decision for the Yellowtail development. Yellowtail will be the company’s fourth and largest development to date in Guyana with production capacity of 250,000 barrels of oil per day. It is expected to begin production in 2025. Additionally, Payara FPSO construction is running approximately five months ahead of schedule with start-up likely before year-end 2023.

• ExxonMobil continued to progress its global LNG growth strategy to meet growing worldwide demand for reliable gas supply. Commissioning of the Area 4 Coral South Floating LNG project in Mozambique is underway, with first production expected this year, and the company signed the P’nyang Gas Agreement in Papua New Guinea. Additionally, construction of the Golden Pass liquefaction facilities on the U.S. Gulf Coast remains on schedule.