Organizations achieve faster time-to-value through logical data fabric and data mesh implementations powered by data virtualization technology
PALO ALTO, Calif.--(BUSINESS WIRE)--Denodo, the leader in data management, today announced that its subscription license revenue grew more than 50 percent year-over-year, as the company moved close to becoming a 100 percent subscription-based revenue business. While new customer acquisitions and existing customer expansion remained strong and steady year-over-year, Denodo’s cloud marketplace presence encountered the fastest growth with more than 300 transactions in 2021.
Denodo customers’ positive sentiment about its product, services, and support was once again captured as part of the Gartner Peer Insights reviews and, as a result, Denodo has again been recognized as a Customer's Choice in the Gartner Peer Insights “Voice of the Customer”: Data Integration Tools, 28 January 2022. With an overall rating of 4.4 out of 5, Denodo is one of the only three Gartner® Magic Quadrant™ for Data Integration Tools Leaders to receive Customers’ Choice for 2022 and is the third highest rated data integration vendor in the report. Denodo was also positioned as a Leader for the Second Consecutive Year in the 2021 Gartner® Magic Quadrant™ for Data Integration Tools. During the same year, Denodo customers and Denodo Platform were bestowed with numerous awards and recognitions, such as TDWI Best Practices Award, Ventana Research Digital Leadership Award, and DBTA Readers' Choice Awards, to name a few.
During 2021, Denodo added important brand names to its already stellar global customer roster, including Credit Suisse, Deutsche Bank, Toyota Financial Services, Johnson & Johnson, and Goldwind. During the same period, Denodo Platform version 8, which was launched in 2020 to offer enterprises the ability to deploy enterprise grade logical data fabric, added some major capabilities including AI & Recommendations and Advanced Semantics. These new additions help enterprise data and analytics teams automate frequently used data management functions, improve collaboration between data stewards and business users, and secure data access.
The Company extended its worldwide footprint to 25 offices spanning 20 countries, including new offices in South Korea, Sweden, Netherlands and Belgium. During the same year, strategic technology and consulting alliances also intensified as marked by a 56 percent increase in new signed partner agreements and significant growth within current partnerships, bringing a 192 percent increase in revenue from this important channel.
“Every company rooted in making data-driven business decisions is realizing that it is impractical to move all their data in a single repository such as a cloud data lake or cloud data warehouse,” said Angel Viña, founder and CEO of Denodo. “That is exactly why they selected Denodo Platform to build their logical data fabric to integrate, manage and deliver their enterprise data to business stakeholders. We thank our partners and customers alike for their continued support for our platform and we are looking forward to helping hundreds of new customers who are looking to make insights-driven business decisions and support their enterprise data across cloud and regional boundaries.”
Please Tweet: #dataintegration leader @denodo announces double-digit revenue growth and strong momentum in customer acquisition through #amazon #google and #azure marketplaces
About Denodo
Denodo is a leader in data management. The award-winning Denodo Platform is the leading data integration, management, and delivery platform using logical approach to enable self-service BI, advanced analytics, hybrid/multi-cloud integration, and enterprise data services. Realizing more than 400% ROI and millions of dollars in benefits, Denodo’s customers across large enterprise and mid-market companies in 30+ industries have received payback in less than 6 months. For more information, visit www.denodo.com or call +1 877 556 2531 / +44 (0) 20 7869 8053.
Chris McCoin or Richard Smith
McCoin & Smith Communications Inc.
508-429-5988 (Chris) or 978-433-3304 (Rick)
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--#EHS--Leading ESG technology provider Emex has appointed Ateed Hijazi as its account executive across the MENA region. Hijazi will take the lead on client relations in the Middle East and North Africa, and Asia-Pacific.
Reporting to Sarah Saha, Emex’s MENA and APAC CEO, Hijazi will be responsible for managing Emex’s current and prospective customers in the region – to help maximise business performance and demonstrate how data can be used to mitigate compliance risks.
After pinpointing a lack of awareness among MENA businesses surrounding ESG practices, Emex aims to inform businesses about the importance of collecting data surrounding their sustainability initiatives. This will help build trust and enhance engagement with investors and other key stakeholders.
Based in Dubai, Hijazi previously worked at EY as a senior consultant with a focus on compliance and governance, and then to Deloitte where he focused on strategy (including EHS) and business operations.
Hijazi said: “The Gulf Cooperation Council is a hub of innovation and technology, and full of opportunity. Yet businesses’ understanding of ESG practices and sustainability is currently low. This is especially true when considering the social – S– aspects of ESG.
“Emex offers an innovative approach for ESG, EHS, and sustainability measurement. It’s exciting to be a part of this journey as we look to expand in the MENA and APAC regions.”
MENA and APAC CEO of Emex, Sarah Saha, said: “There are lots of companies talking about sustainability, but what matters is action.
“It’s our goal to show businesses here the positive impacts of ESG and sustainability reporting across departments and even on the bottom line.
“We want to change the way companies across MENA and APAC take sustainability into account. Emex can give these businesses the tools and knowledge to do so.”
Emex’s VP Sustainability and ESG, Daniel Gribbin, spoke at the Gulf Supply Chain Sustainability Leadership Townhall in Dubai on 16th March 2022.
-ENDS-
About:
Emex’s platform leverages IoT technology, innovation, and expert input to capture critical ESG and EHS data at its source. Further information, please visit https://emex.com/.
James Liddell, Milk & Honey PR
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+44 7715 8181514
HOUSTON--(BUSINESS WIRE)--#ConservationMatters--Hess Corporation has invested in the expansion of the Texas Water Action Collaborative (TxWAC) to the entire Trinity River Basin. This investment is foundational in bringing funding and partners to conservation projects along the Trinity to provide benefits for water volume, water quality, air quality, and biodiversity.
Launched in March of 2021, TxWAC was developed to match companies and funders with conservation projects to positively benefit Texas’ water resources. TxWAC was piloted in the Upper Trinity River Basin. With Hess Corporation’s support, this model is expanding to the Lower Trinity River Basin in the first half of 2022. Plans are underway to expand TxWAC to another river basin in Texas by 2023. Texan by Nature (TxN) leads TxWAC and will facilitate the expansion.
Texas’ population of 29 million people is expected to double by 2050, putting pressure on the state’s land, water, wildlife, and infrastructure. As the 9th largest economy in the world with a GDP of $1.9T, new water opportunities and conservation actions are needed to maintain economic leadership and to ensure the vitality of our natural resources and communities. Hess Corporation's investment in TxWAC is intended as a catalyst for maintaining this position.
“Clean, healthy waterways are important to the state of Texas, as well as the Gulf of Mexico. This partnership with Texan by Nature on the TxWAC project is a great addition to the other water programs Hess is involved in and aligns with the commitment Hess has to clean water and addressing marine debris,” said Brock Hajdik, Vice President for Gulf of Mexico at Hess Corporation. “We are excited to see the opportunities this brings forward.”
The goals of TxWAC expansion are to:
TxWAC began successfully matching projects to funding in the Upper Trinity in October 2021 when PepsiCo and Facebook funded a Ducks Unlimited wetland project as a result of the TxWAC process. Texan by Nature facilitates this process through initiative leadership, survey data, matching methodology, and partnership development.
“TxWAC is quickly becoming a premier example of collaborative conservation. We’re proud to act as the trusted broker and accelerate the rate at which conservation projects are funded. and replicated along Texas river systems. Hess Corporation’s leadership in funding this expansion is a catalyst for the multiplicative impact TxWAC will achieve,” says Joni Carswell, CEO & President of Texan by Nature.
Future plans for the Texas Water Action Collaborative include expansion and replication, scoping high impact and high return water projects for Texas, developing software to manage and visualize data as the collaborative grows, and reporting the results of successfully funded projects through TxWAC.
Texan by Nature’s efforts to convene and accelerate statewide initiatives such as TxWAC are made possible due to the support from partners that are dedicated to conservation, like Hess Corporation. Additional support of the Texas Water Action Collaborative is provided by Lyda Hill Philanthropies, Molson Coors Beverage Company, Coca-Cola Company, and Tarrant Regional Water District.
To learn more about the Texas Water Action Collaborative, visit: https://texanbynature.org/projects/texas-water-action-collaborative/
ABOUT TEXAN BY NATURE:
Texan by Nature, founded by former First Lady Laura Bush, brings conversation and business together, acting as an accelerator for conservation groups and a strategic partner for business. TxN supports 110+ conservation organizations and has accelerated projects and programs that have impacted 7 million-plus people, 20 million acres, and all of Texas’ 254 counties. Get involved and learn more at texanbynature.org. Follow on Facebook, Twitter, LinkedIn, and Instagram @TexanbyNature.
ABOUT HESS CORPORATION:
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. Learn More About Hess' Commitment to Sustainable Business Practices. More information about Hess Corporation is available at http://www.hess.com.
Karina Araujo
Texan by Nature
956-616-6869
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NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that John Hess, Chief Executive Officer, will speak at the 50th Annual Scotia Howard Weil Energy Conference on March 22, 2022 at 3:30 p.m. Eastern Time.
A presentation will be posted and a replay of the audio webcast will be accessible via Hess Corporation’s website.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.
Cautionary Statements
This presentation will contain projections and other 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 projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the company’s periodic reports filed with the Securities and Exchange Commission.
Investor:
Jay Wilson
(212) 536-8940
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Media:
Lorrie Hecker
(212) 536-8250
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HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $ 5,551,298.95 or $0.119104 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of January 2022. The distribution is payable April 14, 2022, to the Unit Holders of record as of March 31, 2022.
For the production month of January 2022, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, “Hilcorp”), reported to the Trust net profits of $7,797,678 ($5,848,258 net royalty amount to the Trust).
Hilcorp reported $10,704,254 of total revenue from the Subject Interests for the production month of January 2022. This amount includes other revenues of $(165,893), which includes $(356,803) of prior period non-operated revenue actualizations and related interest for the production months of November 2020 through October 2021, and $190,910 of revenue plus interest related to audit exceptions. For the Subject Interests, Hilcorp reported $2,906,576 of production costs for the production month of January 2022, consisting of $1,542,682 of lease operating expenses, $1,359,889 of severance taxes and $4,005 of capital costs.
Based upon the information that Hilcorp provided to the Trust, gas volumes for the Subject Interests for January 2022 totaled 1,986,976 Mcf (2,207,751 MMBtu), as compared to 2,108,852 Mcf (2,343,169 MMBtu) for December 2021. Dividing revenues by production volume yielded an average gas price for January 2022 of $5.42 per Mcf ($4.88 per MMBtu), as compared to an average gas price for December 2021 of $4.38 per Mcf ($3.94 per MMBtu).
Hilcorp continues to inform the Trust that the production numbers reported to the Trust are based upon actual, instead of estimated, production for the production month and that it intends to continue to report to the Trust actual production numbers. Hilcorp informed the Trust that it will account for and report any non-operated revenue and non-operated severance tax actualizations remaining from prior periods in future distribution reports, but such amounts continue to be unknown.
The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit all payments made by Hilcorp to the Trust, including adjustments, actualizations, and recoupments. The Trustee continues to consult with outside counsel to review the rights of the Trust with respect to these matters and to evaluate any available potential legal remedies for potential violations of the Trust’s rights.
Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.
San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
James R. Wilharm, Senior Vice President and Director of Trust Real Estate Services
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NASDAQ: BKR) (“Baker Hughes” or the “Company”) announced it has suspended new investments for its Russia operations. The Company is continuing to comply with applicable laws and sanctions as it fulfills current contractual obligations.
“The crisis in Ukraine is of grave concern and we strongly support a diplomatic solution. We condemn violence and our hearts go out to the people and families of those impacted,” said Lorenzo Simonelli, chairman & CEO of Baker Hughes. “The health and safety of our employees, customers, partners, and their families always remains our top priority. We have been continuously monitoring the situation, and today’s announcement follows an internal decision made with our Board of Directors and communicated to our leadership team earlier this week. We remain committed to act in full compliance.”
About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
Investor Relations
Jud Bailey
+1 281-809-9088
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Media Relations
Thomas Millas
+1 713-879-2862
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BEVERLY, Mass.--(BUSINESS WIRE)--Easterly Asset Management’s Maritime Logistics Equity Partners (MLEP), formed last year to invest in critical maritime shipping assets, announced today that it has acquired three additional vessels through MLEP I, its first chemical tanker investment tranche. The newly purchased vessels are all 24,000 dwt coated chemical tankers, larger than the four J19 stainless steel chemical tankers previously acquired by MLEP I.
“The new acquisitions through MLEP I show the appeal of our focus on benefitting from the substantial dislocations and opportunities in international shipping markets by acquiring and making available for hire pre-owned chemical tankers,” said Darrell Crate, Managing Principal of Easterly Asset Management and MLEP’s Chief Executive Officer. “We’ve seen that the demand for such tankers has the potential to generate a high level of income for investors, and we continue to seek new investment opportunities in the shipping sector.”
Launched in September 2021, MLEP is taking advantage of the limited supply and growing demand for chemical tankers, a low future orderbook for new ship construction, and increases in trade. In addition to four J19 stainless steel chemical tankers previously purchased, MLEP has acquired three coated tankers:
In November 2021, Easterly launched MLEP II, which has a goal of raising $150-250 million of equity. It plans to acquire all sizes of chemical tankers, including both stainless and coated MRs and Handysize tankers, with a target of acquiring 15-25 vessels.
Both of MLEP’s investment tranches capitalize on shortages in tanker capacity brought about by growing global demand for the transport of bulk liquids such as palm oil, molasses, feedstock and other commodities and the limited construction of vessels to provide such transport since the end of a construction boom in 2008. Since then, shipbuilders have concentrated on other types of vessels, and a lack of liquidity in the capital markets has meant that there is limited financing for new chemical tankers despite the demand.
MLEP is taking advantage of this supply/demand imbalance by acquiring 10-15 year old tankers that still have years of productive life remaining. MLEP is putting these ships out for hire through WOMAR.
“This is a unique investment opportunity in that it not only addresses a true market dislocation in a difficult-to-access and opaque sector but also provides downside risk protection through residual scrap steel valuations at the end of the vessels’ lifespans,” said Mike Collins, Managing Director of Easterly Asset Management. “By working with an experienced partner such as WOMAR, we can maximize our ability to generate returns for shareholders.”
About Darrell Crate
In addition to serving as CEO of MLEP, Crate founded private investment firm Easterly in 2009. He holds leadership positions in ventures including multi-affiliate manager Easterly Asset Management; Easterly Funds, a mutual fund platform; value manager Easterly Investment Partners; and Easterly EAB Risk Solutions, which provides defensive equity and derivatives strategies to help clients manage portfolio risk.
About Maritime Logistics Equity Partners
Maritime Logistics Equity Partners (MLEP) is a company formed to raise capital to take advantage of various opportunities in the international shipping markets. The Company’s objective is to provide investors with an attractive level of regular, growing income and capital returns by investing in previously owned chemical tankers. The company expects a robust chemical tanker market due to a historically low order book, a lack of liquidity in the capital markets for new tankers, expanding ton-mile demand for chemical tankers and additional cargo coming online in 2021 and beyond. Investors gain exposure to MLEP through a private placement sponsored by Easterly Asset Management. For more information, please visit https://easterlyam.com/maritime-logistics/.
About Easterly Asset Management
About Easterly Asset Management (Easterly) is a multi-affiliate platform of high-performing boutique investment managers. Easterly is committed to bringing investors innovative investment strategies by partnering with quality managers who possess deep domain expertise and are craftsman in their respective asset classes and investment processes. We support our partners by delivering best-in-class solutions in marketing, sales, technology, operations, human resources, and finance to scale their businesses. We also offer affiliates, through our platform partnerships, the opportunity to access our retail & institutional distribution services. With our 19 investment professionals across our seven affiliates, we offer a range of products including separate accounts, SMAs, ’40 Act Funds, CITs and private placements. At the end of February 2022, Easterly had $4.1 billion in assets under management. For more information, please visit Easterly at https://easterlyam.com/.
About WOMAR
WOMAR is an experienced tanker pool operator with industry scale to operate the acquired vessels. WOMAR is one of the largest independent pool operators in the chemical tanker space. It has five offices globally: Singapore; Rotterdam, Netherlands; Mumbai, India; Houston, Texas; and Stamford, Connecticut. WOMAR’s senior management has been with the company for over a decade and has deep industry experience. WOMAR deploys tonnage worldwide and leverages the synergies of global trade by being local in major areas of significance. For more information, please visit us at https://www.womarpools.com.
Media:
Loretta Healy
The Hubbell Group, Inc.
781-718-1117
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.016000 per unit, payable on April 14, 2022 to unitholders of record on March 31, 2022. The net profits interest calculation represents reported oil production for the month of December 2021 and reported natural gas production during November 2021. The calculation includes accrued costs incurred in January 2022.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
40,390 |
|
1,303 |
|
290,847 |
|
9,695 |
|
$ |
73.25 |
|
$ |
4.96 |
Prior Month |
|
44,180 |
|
1,473 |
|
325,962 |
|
10,515 |
|
$ |
76.45 |
|
$ |
5.31 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $3.0 million for the current month on realized wellhead prices of $73.25/Bbl, down $0.4 million from the prior month distribution period.
Recorded natural gas cash receipts from the Underlying Properties totaled $1.4 million for the current month on realized wellhead prices of $4.96/Mcf, down $0.3 million from the prior month distribution period.
Total accrued operating expenses for the period were $2.3 million, an increase of $0.2 million from the prior period. Capital expenditures increased $0.3 million from the prior period to $0.9 million, primarily associated with four non-operated wells being drilled by a private equity-backed operator in the Permian.
Given the increase in rig count and operator activity on the Underlying Properties, COERT Holdings 1 LLC, the sponsor of the Trust (the “Sponsor”), has withheld $0.3 million from the current month’s net profits to establish a cash reserve for approved, future development expenses expected to be incurred this year. To date, the Sponsor has established a total reserve of $0.3 million for approved development expenses expected to be incurred this year.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
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 these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2020 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 23, 2021. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE:SLB) will hold a conference call on April 22, 2022 to discuss the results for the first quarter ending March 31, 2022.
The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until May 22, 2022, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America, and giving the access code 9031593.
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, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
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HOUSTON--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (OTC–ROYTL) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today that there will be no cash distribution to the holders of its units of beneficial interest of record on March 28, 2022 based on the Trust’s calculation of net profits generated during January 2022 (the “Current Month”) as provided in the conveyance of net profits interests and overriding royalty interest (the “Conveyance”). Given the Trust’s receipt of insufficient monthly income from its net profits interests and overriding royalty interest during 2020 and 2021, the Trust had been expected to terminate by its terms at the end of 2021; however, as described further below, a court has issued a temporary restraining order enjoining the dissolution of the Trust until an arbitration tribunal can rule on the plaintiff’s request for injunctive relief. As described further below, based on information from PCEC, the likelihood of distributions to the unitholders in the foreseeable future is extremely remote. All financial and operational information in this press release has been provided to the Trustee by PCEC.
The Current Month’s distribution calculation for the Developed Properties resulted in operating income of approximately $1.4 million. Revenues from the Developed Properties were approximately $3.4 million, lease operating expenses including property taxes were approximately $1.8 million, and development costs were approximately $174,000. The average realized price for the Developed Properties was $79.42 per Boe for the Current Month, as compared to $69.74 per Boe in December 2021. Oil prices generally have continued to rise in recent months, following the sharp decline in the first quarter of 2020, and were higher in the Current Month as compared to November 2020. The cumulative net profits deficit amount for the Developed Properties declined approximately $1.1 million, to approximately $19.9 million in the Current Month versus approximately $21.0 million in the prior month.
The Current Month’s calculation included approximately $109,000 generated from the 7.5% overriding royalty interest on the Remaining Properties from Orcutt Diatomite and Orcutt Field. Average realized prices for the Remaining Properties were $77.82 per Boe in the Current Month, as compared to $67.76 per Boe in December 2021. The cumulative net profits deficit for the Remaining Properties decreased by approximately $226,000 and was approximately $1.9 million for the Current Month.
The monthly operating and services fee of approximately $96,000 payable to PCEC, together with Trust general and administrative expenses of approximately $30,000 together exceeded the payment of approximately $109,000 received from PCEC from the 7.5% overriding royalty interest on the Remaining Properties, creating a shortfall of approximately $17,000.
PCEC has provided the Trust with a $1 million letter of credit to be used by the Trust if its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. As of March 31, 2021, the letter of credit has been fully drawn down. Further, the trust agreement provides that if the Trust requires more than the $1 million under the letter of credit to pay administrative expenses, PCEC will, upon written request of the Trustee, loan funds to the Trust in such amount as necessary to pay such expenses. Under the trust agreement, the Trust may only use funds provided under the letter of credit or loaned by PCEC or another source to pay the Trust’s current accounts or other obligations to trade creditors in connection with obtaining goods or services or for the payment of other accrued current liabilities arising in the ordinary course of the Trust’s business. As the Trust has fully drawn down the letter of credit, PCEC will be loaning funds to the Trust to pay the expected shortfall of approximately $17,000, which would bring the total amount of outstanding borrowings (including the amount drawn from the letter of credit, which also must be repaid as provided in the trust agreement) from PCEC to approximately $3.3 million plus interest thereon, related to shortfalls from prior months. Consequently, no further distributions may be made to Trust unitholders until the Trust’s indebtedness created by such amounts drawn or borrowed, including interest thereon, has been paid in full.
Sales Volumes and Prices
The following table displays PCEC’s underlying sales volumes and average prices for the Current Month: |
|||||
Underlying Properties |
|||||
Sales Volumes |
Average Price |
||||
(Boe) |
(Boe/day) |
(per Boe) |
|||
Developed Properties (a) |
42,701 |
1,377 |
|
$79.42 |
|
Remaining Properties (b) |
19,170 |
618 |
$77.82 |
||
(a) Crude oil sales represented 99% of sales volumes |
|||||
(b) Crude oil sales represented 100% of sales volumes |
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Update on Estimated Asset Retirement Obligations
As previously disclosed, in November 2019, PCEC informed the Trustee that, as permitted by the Conveyance, PCEC intended to begin deducting its estimated asset retirement obligations (“ARO”) associated with the West Pico, Orcutt Hill, Orcutt Hill Diatomite, East Coyote and Sawtelle fields, thereby reducing the amounts payable to the Trust under its Net Profits Interests. ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face. PCEC engaged an accounting firm, Moss Adams LLP (“Moss Adams”), acting as third-party consultants, to assist PCEC in determining its estimated ARO, and on February 27, 2020, PCEC informed the Trustee that based on the analysis performed by Moss Adams, PCEC’s estimated ARO, as of December 31, 2019, was $45,695,643, which is approximately $10.0 million less than the undiscounted amount that was originally estimated before Moss Adams completed its analysis, as previously disclosed in the Trust’s Current Report on Form 8‑K filed on November 13, 2019. According to PCEC and its third-party consultants, its estimated ARO, which reflected PCEC’s assessment of current market conditions as of December 31, 2019 and changes in California law, was determined to be approximately $33.2 million for the Developed Properties and approximately $12.5 million for the Remaining Properties, or approximately $26.5 million and approximately $3.1 million net to the Trust, respectively, and PCEC has reflected these amounts beginning with the calculation of the net profits generated during January 2020. The accrual has resulted in a current cumulative net profits deficit of approximately $23.3 million, which must be recouped from proceeds otherwise payable to the Trust from the Trust’s Net Profits Interests. Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
PCEC has informed the Trustee that in accordance with generally accepted accounting principles, PCEC will evaluate the ARO on a quarterly basis. As a result of that re-evaluation, the actual ARO incurred in the future may be greater or less than the estimated amounts provided by PCEC. As previously disclosed, PCEC has informed the Trustee that at year-end 2020, and following the end of each of the first, second and third quarters of 2021, in light of the accounting guidance under Accounting Standards Codification 410-20-35-3, which requires the recognition of changes in the asset retirement obligation due to the passage of time and revision of the timing or amount of the originally estimated undiscounted cash flows, PCEC re-evaluated the estimated ARO, which resulted in an aggregate increase to the ARO accrual for the Developed Properties by approximately $5.1 million, net to the Trust’s interest, and an aggregate increase to the ARO accrual for the Remaining Properties by approximately $288,000, net to the Trust’s interest.
Based on PCEC’s estimate of its ARO attributable to the Net Profits Interest, deductions relating to estimated ARO are likely to eliminate the likelihood of any distributions to Trust unitholders for the foreseeable future, as previously disclosed in the Trust’s Current Report on Form 8-K filed on November 13, 2019.
As previously disclosed, the Trust engaged Martindale Consultants, Inc. (“Martindale”), a provider of analysis and compliance review services to the oil and gas industry, to perform an independent review of the estimated ARO in the Moss Adams report that PCEC provided to the Trustee. The Trustee also has engaged an accounting expert to advise the Trustee regarding the accruals that PCEC has booked relating to its estimated ARO. As disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, Martindale has completed its review of the estimated ARO and on December 21, 2020 provided its analysis and recommendations to the Trustee. Based on Martindale’s recommendations provided in its report to the Trust, as disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, the Trustee requested that PCEC promptly make several adjustments to its calculations and methods of deducting ARO from the proceeds to which the Trust is otherwise entitled pursuant to its Net Profits Interests. PCEC has responded to the Trustee, indicating PCEC’s view that the adjustments would violate applicable contracts and accounting standards, and has therefore declined to make any adjustments to the estimated ARO calculation based on those requests and the recommendations of the Martindale report. The Trustee has concluded that it has taken all action reasonably available to it under the Trust’s governing documents in connection with PCEC’s ARO calculation and therefore has determined not to take further action at this time.
As described in more detail in the Trust’s filings with the SEC, the trust agreement provides that the Trust will terminate if the annual cash proceeds received by the Trust from the Net Profits Interests and 7.5% overriding royalty interest total less than $2.0 million for each of any two consecutive calendar years. Because of the cumulative net profits deficit—which PCEC contends is the result of the substantial reduction in commodity prices during 2020 due to the COVID-19 pandemic and PCEC’s deduction of estimated ARO beginning in the first quarter of 2020—the only cash proceeds the Trust has received since March 2020 have been attributable to the 7.5% overriding royalty interest. As a result, the total proceeds received by the Trust in each of 2020 and 2021 were less than $2.0 million. Therefore, the Trust had been expected to terminate by its terms at the end of 2021.
Status of the Dissolution of the Trust
As previously disclosed in the Trust’s Current Report on Form 8-K filed on December 23, 2021, on December 8, 2021, Evergreen Capital Management LLC (“Evergreen”) filed an Amended Class Action and Shareholder Derivative Complaint alleging a derivative action on behalf of the Trust and against PCEC in the Superior Court of the State of California for the County of Los Angeles (the “Court”).
On December 10, 2021, Evergreen filed a motion for a preliminary injunction, seeking to (1) enjoin the Trustee from dissolving the Trust, (2) enjoin PCEC from dissolving the Trust, (3) direct PCEC to account for all monies withheld from the Trust on the basis of ARO costs since September 2019, and (4) direct PCEC to place such monies in escrow. Also on December 10, 2021, Evergreen filed a motion for a temporary restraining order, seeking to (1) enjoin the dissolution of the Trust, (2) enjoin the Trustee from taking any action toward the dissolution of the Trust, and (3) enjoin PCEC from taking any action toward the dissolution of the Trust.
On December 16, 2021, the Court granted Evergreen’s application for a temporary restraining order. Accordingly, the Trust did not dissolve at the end of 2021 and commence the process of selling its assets and winding up its affairs. On January 11, 2022, PCEC and Evergreen filed an agreed stipulation, which the Court approved, to stay the prosecution of Evergreen’s derivative claims pending an arbitration of such claims. On January 13, 2022, the Court signed an Order dissolving the December 16, 2021, temporary restraining order and entering a new temporary restraining order (the “Arbitration TRO”) to preserve the status quo until a tribunal of three arbitrators appointed pursuant to the trust agreement can rule on any request by Evergreen for injunctive relief. The Arbitration TRO will dissolve upon a ruling by the arbitration tribunal granting or denying, in whole or in part, a request by Evergreen for injunctive relief. Any dissolution of the Trust will not occur until after there is a final order on Evergreen’s request for injunctive relief.
Production Update
PCEC has informed the Trustee that PCEC continues to strategically deploy capital to enhance production. Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created. Although oil prices have improved significantly from their lowest levels in 2020, any monthly payments that PCEC may make to the Trust may not be sufficient to cover the Trust’s administrative expenses and outstanding debt to PCEC, and therefore the likelihood of distributions to the unitholders in the foreseeable future is extremely remote.
Overview of Trust Structure
Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”). The Underlying Properties and the Trust’s net profits, and royalty interests are described in the Trust’s filings with the SEC. As described in the Trust’s filings with the SEC, the amount of any periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, development expenses, and the amount and timing of the Trust’s administrative expenses, among other factors. For additional information on the Trust, please visit https://royt.q4web.com/home/default.aspx.
Cautionary Statement Regarding Forward-Looking Information
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 these provisions. These forward-looking statements include estimates of future asset retirement obligations, expectations regarding the impact of deductions for such obligations on future distributions to unitholders, estimates of future total distributions to unitholders, expectations regarding the outcome of the legal proceedings relating to the Trust and any future dissolution of the Trust, expectations regarding the impact of lower commodity prices on oil and gas reserve estimates, statements regarding the impact of returning shut-in wells to production, expectations regarding PCEC’s ability to loan funds to the Trust, and the amount and date of any anticipated distribution to unitholders. In any case, PCEC’s deductions of its estimated asset retirement obligations will have a material adverse effect on distributions to the unitholders and on the trading price of the Trust units and may result in the termination of the Trust. Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC 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 affected by low commodity prices, which declined significantly during 2020, could decline again and could remain low for an extended period of time as a result of a variety of factors that are beyond the control of the Trust and PCEC. Other important factors that could cause actual results to differ materially include expenses related to the operation of the Underlying Properties, including lease operating expenses, expenses of the Trust, and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither PCEC nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019, and if applicable, the Trust’s subsequent Quarterly Reports on Form 10-Q. The Trust's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q are available over the Internet at the SEC's website at http://www.sec.gov.
Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
DALLAS--(BUSINESS WIRE)--Amen Properties, Inc. (Pink Sheets: AMEN) today announced financial results for its fiscal year ended December 31, 2021. The Company posted revenue of $3.1 million and net income of $1.8 million. These results compare to revenue of $1.1 million and a net loss of $683 thousand for 2020. The Company’s improvement in revenue and profitability resulted primarily from increased demand and prices for oil.
Amen also announced that the Company’s Board of Directors has approved the payment of a quarterly dividend of $7.50 per share. Additionally, the Board approved payment of a special dividend of $3.30 per share to satisfy the Company’s tithing obligation for 2021. Both dividends will be paid to shareholders of record on March 31 with a payment date of April 7.
Finally, Amen reiterated that its Board has approved a plan whereby the Company will no longer hedge the revenue stream associated with its oil and gas royalties. “Shareholders of Amen need to understand that they hold an un-hedged long oil and gas position and should pursue their own hedging strategy if they are uncomfortable with that risk,” said Kris Oliver, Amen’s Chief Financial Officer.
The Company’s 2021 annual report is available for viewing or download from the company’s web site – www.amenproperties.com.
About Amen Properties:
Amen Properties owns a portfolio of cash-producing properties including real estate and oil and gas interests.
Cautionary Statement:
This document contains forward-looking statements, which involve a number of risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward-looking statements. Forward-looking statements can be identified by use of the words "expect," "project," "may," "might," potential," and similar terms. AMEN Properties, Inc. ("Amen", "we" or the "Company") cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Amen's control. These factors include, but are not limited to, our ability to implement our strategic initiatives, economic, political and market conditions and price fluctuations, government and industry regulation, U.S. and global competition and other factors. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Press and Investor Relations Contact:
Kris Oliver
(972) 999-0494
HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) will hold a conference call to discuss its first quarter 2022 results on Friday, April 29, 2022 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, April 28, 2022. The call will be webcast live on www.nov.com/investors.
About NOV
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.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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HOUSTON & ABU DHABI--(BUSINESS WIRE)--Uniper, Hydrogenious LOHC of Germany and JERA Americas together with the Abu Dhabi National Oil Company (ADNOC) announced today a joint study agreement (JSA) to explore hydrogen transportation between the UAE and Germany using Hydrogenious’ Liquid Organic Hydrogen Carrier (LOHC) technology. Under the agreement, which was announced during the visit to the UAE of Robert Habeck, German Federal Minister for Economic Affairs and Climate Action, the parties will explore the opportunity to scale up existing LOHC technology to help meet growing global demand for the transportation of hydrogen.
Hydrogen is recognized as an important clean energy source, with the potential to provide a significant portion of the world’s growing energy needs. However, it is a very light element, which makes it difficult to transport over large distances. Hydrogenious’ LOHC technology provides a safe, low cost means of bulk hydrogen storage and transportation, bonding hydrogen molecules to a non-flammable liquid, making it suitable and safer for transportation and distribution.
Niek den Hollander, Chief Commercial Officer at Uniper comments: “Uniper is already actively involved in large scale hydrogen projects in the Middle East with a view to exporting hydrogen to Europe and Asian markets. Our team of experts is constantly evaluating technologies that will support the large scale, commercial transport of hydrogen through carrier products to our markets. Working with our partners ADNOC, Hydrogenious and JERA we hope to find the best possible solution to support these ambitions.”
Hydrogenious’ CEO and founder Dr. Daniel Teichmann comments: “Europe targets the import of carbon free energy in the form of green hydrogen. LOHC can be an enabler to realize the demand at scale in a safe and cost-efficient manner. We could not imagine a better project consortium that can cover the entire value chain from source to consumption. The synergy of ADNOC’s energy sources, Uniper’s offtaking and JERA Americas’ energy trading experience will create a seamless value chain in order to bring clean energy into the European market.”
Steven C Winn, Chief Executive Officer of JERA Americas, said: “This partnership will allow hydrogen produced in the UAE to be transported to Germany using the Hydrogenious technology and help decarbonize Europe. We see promise in exploring the potential of replicating the decarbonization enabled by the LOHC value chain between the UAE and Asia and also the United States and Asia.”
Hydrogenious' LOHC technology is based on the proprietary carrier material benzyl toluene (BT). When stored within the BT, no hydrogen losses occur, allowing long storage durations and storage of large volumes. It offers easy handling characteristics under ambient pressure and temperatures, even in cold conditions, allowing for its handling within the existing fuel logistics infrastructure. Its energy density is highly favorable as a transportation vessel can store approximately five times more energy compared to compressed hydrogen. BT is widely used in industry and thus commercially available in large quantities. Moreover, it can be loaded and unloaded with hydrogen many hundreds of times and is recyclable. For large-scale harbour-to harbour supply chains, LOHC has potential as an alternative to ammonia or liquid hydrogen.
The UAE’s competitive hydrogen production is enabled by its abundant and low-cost access to both renewable energy and hydrocarbons and its existing large-scale hydrogen production infrastructure. ADNOC plans to leverage its hydrogen production, infrastructure and partnership base to lead Abu Dhabi and the UAE’s hydrogen activities, with the aim to become one of the world’s leading producers of hydrogen and its carrier fuels.
About Uniper
Uniper is a leading international energy company, has around 11,500 employees, and operates in more than 40 countries. The company plans for its power generation business in Europe to be carbon-neutral by 2035. Uniper’s roughly 33 GW of installed generation capacity make it one of the world‘s largest electricity producers. The company's core activities include power generation in Europe and Russia as well as global energy trading and a broad gas portfolio, which makes Uniper one of Europe’s leading gas companies. In addition, Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey. Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply.
The company is based in Düsseldorf and is currently Germany’s third-largest publicly listed energy supply company. Together with its main shareholder Fortum, Uniper is also Europe’s third-largest producer of zero-carbon energy.
This press release may contain forward-looking statements based on current assumptions and forecasts made by Uniper SE Management and other information currently available to Uniper. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Uniper SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to modify them to conform with future events or developments.
About Hydrogenious LOHC
Hydrogenious LOHC adds the missing link to high-performing hydrogen value chains globally. Based on its proprietary and proven Liquid Organic Hydrogen Carrier (LOHC) technology with benzyl toluene as carrier medium, Hydrogenious LOHC allows for superior, flexible hydrogen supply to consumers in industry and mobility across the globe, utilizing conventional liquid-fuel infrastructure. Founded in 2013, the portfolio of the market-leading pioneer and its joint venture companies today includes stationary and mobile (on-board) LOHC-based applications: Hydrogenious LOHC Technologies, headquartered in Erlangen/Germany, offers – within an EPC partnership with Bilfinger – (de-)hydrogenation turnkey plants, Operation & Maintenance and LOHC logistics services – ensuring safe, easy and efficient hydrogen storage, transport and distribution. Hydrogenious LOHC Emirates, based in the United Arab Emirates and a joint venture with Emirates Specialized Contracting & Oilfield Services (ESCO), acts as the regional spearhead in the Middle East since the end of 2021. Hydrogenious LOHC Maritime, established in 2021 jointly with Østensjø Group and located in Norway, develops an emission-free onboard propulsion system with a promising LOHC/fuel cell solution for the global shipping industry. With its >130 staff members and investors AP Ventures, Royal Vopak, Winkelmann Group, Mitsubishi Corporation, Covestro, JERA Americas, Temasek, Hyundai Motor Company, Chevron Technology Ventures and Pavilion Capital, Hydrogenious LOHC is a major enabler and accelerator for the energy transition.
www.hydrogenious.net | www.hydrogenious-emirates.ae | www.hydrogenious-maritime.net
About JERA Americas
A subsidiary of Tokyo-based JERA Co. that produces about 30% of all electricity in Japan, JERA Americas is supporting an energy transition in an environmentally and socially responsible manner. JERA, which stands for Japan’s Energy for a New Era, has been working to eliminate CO2 emissions from its domestic and overseas businesses by 2050 and is contributing to the development of a sustainable society.
For more information (US): This email address is being protected from spambots. You need JavaScript enabled to view it. | www.jera.co.jp/english/
About ADNOC
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.
To find out more, visit: www.adnoc.ae
Uniper SE
Linda Patricia Jaram
Spokesperson
T +49 160 90 34 03 28
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Hydrogenious LOHC
Birka Friedrich
Head of Corporate Communications and Marketing
T +49 160 5619001
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JERA Americas
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ADNOC
Philip Robinson
Manager, ADNOC External Relations
T +971 (0) 50 504 4934
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PARIS--(BUSINESS WIRE)--Technip Energies (PARIS:TE) (the “Company”), a leading Engineering & Technology company for the Energy Transition, today publishes its 2021 Annual Report.
The Company filed its 2021 Annual Report with the Dutch Authority for the Financial Markets (AFM).
The 2021 Annual Report is available on: https://investors.technipenergies.com/financial-information/results-center
Technip Energies will hold its Annual General Meeting in Schiphol, the Netherlands on May 5, 2022. The convocation, agenda and all related documents will be available at https://investors.technipenergies.com/events-presentations/agm on March 24, 2022.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADRs”) program, with its ADRs trading over-the-counter. For further information: www.technipenergies.com.
Investor Relations
Phillip Lindsay
Vice-President, Investor Relations
+44 203 429 3929
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Media Relations
Stella Fumey
Director, Press Relations & Digital Communications
+33 1 85 67 40 95
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Jason Hyonne
Press Relations & Social Media Lead
+33 1 47 78 22 89
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Spring is Here; Follow these Simple Steps to Improve Energy Efficiency in the Home
SAN FRANCISCO--(BUSINESS WIRE)--This week Pacific Gas and Electric Company (PG&E) marks the beginning of spring by offering simple steps to keep energy efficiency in mind during the March Equinox.
It’s entirely possible to use both the furnace and air conditioner on any given spring day as temperatures can range dramatically from day to night.
Here are ways to stay comfortable in the home this spring while managing energy use and electric bills:
Customers can also reduce costs this spring by tracking and analyzing energy usage with the following steps:
PG&E offers a variety of financial assistance programs for income-qualified customers including California Alternative Rates for Energy (CARE), Family Electric Rate Assistance1 (FERA), Energy Saving Assistance Program, and payment plans. For more tips on how to save this spring and summer, visit www.pge.com/summer.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
1 FERA is a monthly discount program on electric only for income-qualified households with three or more people.
MEDIA RELATIONS:
415-973-5930
HOUSTON--(BUSINESS WIRE)--Schlumberger today provided the following update with regard to its operations in Russia:
“We have watched with immense concern as the conflict in Ukraine has escalated,” said Chief Executive Officer Olivier Le Peuch. “First and foremost, we are deeply focused on the health, safety and security of our employees, colleagues and their families in Ukraine, Russia and throughout the region.
“As the situation has developed, we have been evaluating our path forward, and have decided to immediately suspend new investment and technology deployment to our Russia operations. We continue to actively monitor this dynamic situation and will fulfill any existing activity in full compliance with applicable international laws and sanctions.
“Safety and security are at the core of who we are as a company, and we urge a cessation of the conflict and a restoration of safety and security in the region.”
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.
Media
Josh Byerly – Vice President of Corporate Communication, Schlumberger Limited
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group, Inc., (OTCQB: CRTG), developers of engineered silicon, a lithium-ion battery with a silicon-anode, and 3D volumetric displays, is one of a select group of companies chosen to present at a two-day U.S. conference on accelerating the development of a domestic battery supply chain.
Dr. Michelle Tokarz, Vice President of Partnerships and Innovation, spoke about The Coretec Group’s development of a lithium-ion battery with a silicon anode. The Coretec Group is using the unique characteristics of cyclohexasilane and similar molecules to enhance the performance of silicon anodes. The Coretec Group’s approach is new to the industry and protected by the company’s recent application for a full utility patent. This development could greatly affect the electric-vehicle market.
The two-day virtual conference titled “Bridging the Gap: Advancing America’s Battery Manufacturing and Supply Chain,” drew more than 1,400 participants from across the country, with nearly half of those representing industry. The Coretec Group was selected to present from more than 100 applicants.
“The conference offered a tremendous opportunity to discuss The Coretec Group’s silicon-anode technology with potential partners as well as government and industry leaders,” CEO Matthew Kappers said. “We believe our approach is the key to unlocking the power of silicon anodes, which will extend the life of lithium-ion batteries for everything from mobile electronics to electric vehicles.”
Research has shown that silicon anodes have the capacity to hold 10 times the lithium of traditional graphite anodes. To date, however, attempts to unleash the power of silicon anodes have suffered from poor charge-and-recharge cycles and reduced battery lifespans. Put simply, scientists have yet to extract the full potential of silicon anodes. The Coretec Group believes its approach – engineering silicon nanoparticles to solve the problem – will realize the potential of silicon anodes to take lithium-ion battery performance to the next level.
“We’re developing a lithium-ion battery with a silicon anode to demonstrate the effects of our unique approach to the charge-and-recharge lifecycle issue,” Dr. Tokarz said. “This was a fantastic forum to discuss our approach and it was an honor to contribute to such a well-regarded group.”
To learn more about The Coretec Group’s novel approach to silicon anodes, watch The Coretec Group’s presentation here or visit https://thecoretecgroup.com/.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment and security.
For more information, please visit thecoretecgroup.com. Follow The Coretec Group on Twitter and LinkedIn.
Forward-Looking Statements:
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
The Coretec Group, Inc.
Lindsay McCarthy
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+1 (866) 916-0833
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it immediately suspended future business in Russia as the Company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers. Halliburton will prioritize safety and reliability as we wind down our remaining operations in Russia.
Several weeks ago, the Company halted all shipments of specific sanctioned parts and products to Russia. Halliburton has no active joint ventures there.
“The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” said Halliburton Chairman, President and CEO Jeff Miller. “Since the start of this conflict, we prioritized employee safety and compliance with all relevant sanctions.”
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Halliburton
For Investors:
David Coleman
Investor Relations
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281-871-2688
For News Media:
Emily Mir
External Affairs
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281-871-2601
BRYN MAWR, Pa.--(BUSINESS WIRE)--The board of directors of Essential Utilities Inc. (NYSE: WTRG) today declared a quarterly cash dividend of $0.2682 per share, payable June 1, 2022 to all shareholders of record on May 13, 2022.
Essential Utilities has paid consecutive quarterly cash dividends for 77 years and has increased the dividend 31 times in the last 30 years.
About Essential
Essential is one of the largest publicly traded water, wastewater service and natural gas providers in the U.S., serving approximately 5.5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
WTRGF
Brian Dingerdissen
Essential Utilities Inc.
Investor Relations
O: 610.645.1191
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Erin O’Donnell
Communications
O: 412.266.2446
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HOUSTON--(BUSINESS WIRE)--Regulatory News:
Schlumberger (SLB: NYSE)
Schlumberger today provided the following update with regard to its operations in Russia:
“We have watched with immense concern as the conflict in Ukraine has escalated,” said Chief Executive Officer Olivier Le Peuch. “First and foremost, we are deeply focused on the health, safety and security of our employees, colleagues and their families in Ukraine, Russia and throughout the region.
“As the situation has developed, we have been evaluating our path forward, and have decided to immediately suspend new investment and technology deployment to our Russia operations. We continue to actively monitor this dynamic situation and will fulfill any existing activity in full compliance with applicable international laws and sanctions.
“Safety and security are at the core of who we are as a company, and we urge a cessation of the conflict and a restoration of safety and security in the region.”
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.
Media
Josh Byerly – Vice President of Corporate Communication, Schlumberger Limited
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
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