132,450 contracts traded in total on ICE Futures Abu Dhabi since launch
Liquidity out to January 2022 contract
Record Open Interest of more than 42,000 contracts
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 18,848 ICE Murban Crude Oil Futures contracts traded on ICE Futures Abu Dhabi (“IFAD”) on April 20, marking its highest volume day since the contracts launched on March 29. Alongside ICE Murban Crude Oil Futures, IFAD launched trading in 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.
A total of 132,450 contracts have traded on IFAD since the launch, equivalent to 132 million barrels of Murban Crude oil. This includes 125,890 ICE Murban Crude Oil futures contracts and 6,560 Murban-related cash settled derivatives, with 49 firms having traded on IFAD since the launch.
“Although we are only in week four, we are seeing week-on-week growth in traded volumes and open interest in both the prompt and deferred months, with activity out to January 2022. New daily volume records are being set each week, and there is an increasing number of participants trading Murban,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “This is a very encouraging start and really reflects how the energy industry is utilizing its new ability to hedge forward price risk for Murban crude with the physical and financial sides of the market coming together to contribute to the price formation process of Murban crude oil.”
Murban futures are open for trading for 24 hours a day on Mondays and 22 hours a day Tuesdays to Fridays, with investors from jurisdictions including Abu Dhabi Global Market, United States, Singapore, UK, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, able to trade on IFAD. IFAD has 27 Exchange Members and 20 Clearing Members, who are listed in full on IFAD’s Membership page.
Contracts traded on IFAD are cleared at ICE Clear Europe where they are cleared alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from critical margin offsets to enhance capital efficiency.
For more information on how to clear or trade IFAD markets please contact This email address is being protected from spambots. You need JavaScript enabled to view it. or to arrange education sessions on IFAD markets please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
ICE Media Contact:
Rebecca Mitchell
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ICE Investor Contact:
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770-835-0114
KCS’ largest customer, Bartlett Grain, supportive of pro-competition, pro-service U.S.-Mexico-Canada combination
Supporters Urge the STB to Review the Transaction Efficiently to Realize Benefits to All Stakeholders
CALGARY & KANSAS CITY, Mo.--(BUSINESS WIRE)--Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") and Kansas City Southern (NYSE: KSU) ("KCS") today announced that Bartlett Grain, Port of Milwaukee, Asociación Mexicana de la Industria Automotriz A.C. (AMIA) were among stakeholders that filed statements with the Surface Transportation Board (“STB”) in support of the planned combination between the two companies. They join over 405 supporters across the broad spectrum of the transportation supply chain that have filed letters with the STB.
The statements follow previous filings with the STB on March 31, 2021, April 6, 2021 and April 12, 2021. Shippers and supporters stated they expect the combination of CP and KCS would, among other benefits, invigorate transportation competition, expand access to existing and growing markets and provide new service offerings that would improve transit times and reliability.
Many of the supporters also requested the STB to review the transaction as efficiently as possible so the systems could be integrated, and the end-to-end benefits of this combination can be realized for the benefit of all stakeholders.
The CP-KCS combination is expected to provide an enhanced competitive alternative to existing rail service providers and is expected to result in improved service and efficiency to customers of all sizes. When combined, the CP-KCS network would remain the smallest of six U.S. Class 1 railroads by revenue.
CP is seeking approval from the STB for the combination, which also remains subject to the approvals of CP and KCS shareholders and other customary closing conditions. The STB review is expected to be completed by the middle of 2022.
For more information on the transaction and the benefits it is expected to bring to the full range of stakeholders, visit www.FutureForFreight.com.
Forward Looking Statements and Information
This news release includes certain forward-looking statements and forward-looking information (collectively, FLI) to provide CP and KCS shareholders and potential investors with information about CP, KCS and their respective subsidiaries and affiliates, including each company’s management’s respective assessment of CP, KCS and their respective subsidiaries’ future plans and operations, which FLI may not be appropriate for other purposes. FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “target”, “believe”, “likely” and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI. In particular, this news release contains FLI pertaining to, but not limited to, information with respect to the following: the transaction; the combined company’s scale; and future business prospects and performance.
Although we believe that the FLI is reasonable based on the information available today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. By its nature, FLI involves a variety of assumptions, which are based upon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by these FLI, including, but not limited to, the following: the timing and completion of the transaction, including receipt of regulatory and shareholder approvals and the satisfaction of other conditions precedent; interloper risk; the realization of anticipated benefits and synergies of the transaction and the timing thereof; the success of integration plans; the focus of management time and attention on the transaction and other disruptions arising from the transaction; estimated future dividends; financial strength and flexibility; debt and equity market conditions, including the ability to access capital markets on favorable terms or at all; cost of debt and equity capital; the previously announced proposed share split of CP’s issued and outstanding common shares and whether it will receive the requisite shareholder and regulatory approvals; potential changes in the CP share price which may negatively impact the value of consideration offered to KCS shareholders; the ability of management of CP, its subsidiaries and affiliates to execute key priorities, including those in connection with the transaction; general Canadian, U.S., Mexican and global social, economic, political, credit and business conditions; risks associated with agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures, including competition from other rail carriers, trucking companies and maritime shippers in Canada, the U.S. and México; industry capacity; shifts in market demand; changes in commodity prices; uncertainty surrounding timing and volumes of commodities being shipped; inflation; geopolitical instability; changes in laws, regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; disruption in fuel supplies; uncertainties of investigations, proceedings or other types of claims and litigation; compliance with environmental regulations; labor disputes; changes in labor costs and labor difficulties; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; exchange rates; effects of changes in market conditions and discount rates on the financial position of pension plans and investments; trade restrictions or other changes to international trade arrangements; the effects of current and future multinational trade agreements on the level of trade among Canada, the U.S. and México; climate change and the market and regulatory responses to climate change; anticipated in-service dates; success of hedging activities; operational performance and reliability; customer, shareholder, regulatory and other stakeholder approvals and support; regulatory and legislative decisions and actions; the adverse impact of any termination or revocation by the Mexican government of Kansas City Southern de México, S.A. de C.V.’s Concession; public opinion; various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, as well as security threats and governmental response to them, and technological changes; acts of terrorism, war or other acts of violence or crime or risk of such activities; insurance coverage limitations; material adverse changes in economic and industry conditions, including the availability of short and long-term financing; and the pandemic created by the outbreak of COVID-19 and resulting effects on economic conditions, the demand environment for logistics requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions, and disruptions to global supply chains.
We caution that the foregoing list of factors is not exhaustive and is made as of the date hereof. Additional information about these and other assumptions, risks and uncertainties can be found in reports and filings by CP and KCS with Canadian and U.S. securities regulators, including any proxy statement, prospectus, material change report, management information circular or registration statement to be filed in connection with the transaction. Due to the interdependencies and correlation of these factors, as well as other factors, the impact of any one assumption, risk or uncertainty on FLI cannot be determined with certainty.
Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this news release is expressly qualified in its entirety by these cautionary statements.
About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR
About KCS
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances are primary components of a railway network, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT
CP will file with the U.S. Securities and Exchange Commission (SEC) a registration statement on Form F-4, which will include a proxy statement of KCS that also constitutes a prospectus of CP, and any other documents in connection with the transaction. The definitive proxy statement/prospectus will be sent to the shareholders of KCS. CP will also file a management proxy circular in connection with the transaction with applicable securities regulators in Canada and the management proxy circular will be sent to CP shareholders. INVESTORS AND SHAREHOLDERS OF KCS AND CP ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND MANAGEMENT PROXY CIRCULAR, AS APPLICABLE, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT KCS, CP, THE TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other documents filed by CP and KCS with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the registration statement, proxy statement/prospectus, management proxy circular and other documents which will be filed with the SEC and applicable securities regulators in Canada by CP online at investor.cpr.ca and www.sedar.com, upon written request delivered to CP at 7550 Ogden Dale Road S.E., Calgary, Alberta, T2C 4X9, Attention: Office of the Corporate Secretary, or by calling CP at 1-403-319-7000, and will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by KCS online at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’s Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
You may also read and copy any reports, statements and other information filed by KCS and CP with the SEC at the SEC public reference room at 100 F Street N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-732-0330 or visit the SEC’s website for further information on its public reference room. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
PARTICIPANTS IN THE SOLICITATION OF PROXIES
This communication is not a solicitation of proxies in connection with the transaction. However, under SEC rules, CP, KCS, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the transaction. Information about CP’s directors and executive officers may be found in its 2021 Management Proxy Circular, dated March 10, 2021, as well as its 2020 Annual Report on Form 10-K filed with the SEC and applicable securities regulators in Canada on February 18, 2021, available on its website at investor.cpr.ca and at www.sedar.com and www.sec.gov. Information about KCS’s directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the interests of such potential participants in the solicitation of proxies in connection with the transaction will be included in the proxy statement/prospectus and management proxy circular and other relevant materials filed with the SEC and applicable securities regulators in Canada when they become available.
Canadian Pacific
Media
Jeremy Berry
Tel: 403-819-0571
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Investment Community
Chris De Bruyn
Tel: 403-319-3591
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Kansas City Southern
Media
C. Doniele Carlson
Tel: 816-983-1372
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Investment Community
Ashley Thorne
Tel: 816-983-1530
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TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) today announced that it has declared a cash distribution of $0.05 per unit for the month of April 2021 payable on May 26, 2021 to unitholders of record at the close of business on April 30, 2021.
Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
Rohit Bhardwaj
Vice President, Finance & CFO
Tel: (416) 496-4177
Ryan Paull
Business Development Manager
Tel: (973) 515-1831
TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) will release its results for the three months ended March 31, 2021 on Monday, May 10, 2021 after close of markets.
A conference call to review the results will be webcast live on Tuesday, May 11, 2021 at 8:30 a.m. To access the webcast click here.
Rohit Bhardwaj
Vice-President, Finance and CFO
Tel: (416) 496-4177
Ryan Paull
Business Development Manager
Tel: (973) 515-1831
Emissions reduction goals will support the United Nations’ Paris Agreement and a better future
BOISE, Idaho--(BUSINESS WIRE)--$ACI--Albertsons Companies (NYSE: ACI) has announced its commitment to the Science Based Targets initiative (SBTi) and will set an emissions reduction target that supports the goals of the United Nations’ Paris Agreement to reduce carbon emissions. Albertsons Cos.’ emissions reduction goal will align with standards that are designed to ensure a better future and to prevent the worst impacts of climate change.
In a recent assessment of priorities for Albertsons Cos.’ Environmental, Social, Governance (ESG) strategy, internal and external stakeholders rated energy and emissions as high priorities for the Company to focus on. To support these priorities, leaders across the enterprise are updating long-term strategic plans to include opportunities to reduce emissions from Albertsons Cos.’ direct operations and indirect value chain.
Albertsons Cos. will evaluate energy use and procurement, refrigerants, transportation, and its supply chain to submit an emissions reduction goal to SBTi for approval. The Science Based Targets initiative is a partnership between CDP, UN Global Compact, WRI, and WWF that helps companies take meaningful climate action through its science-based framework. The framework requires all emissions reduction goals to support the Paris Agreement’s objective to limit global warming to well below 2°C above pre-industrial levels.
“We are passionate about making a meaningful difference in our neighborhoods and planet and are committed to continuing to reduce our climate impacts,” said Vivek Sankaran, President and CEO. “The SBTi framework will guide us in doing our part to minimize our impact within our own operations and beyond. We look forward to working with our supply chain partners to address this important issue.”
Efforts currently underway to measure and reduce emissions at Albertsons Cos include:
These goals will continue to drive innovation within and beyond Albertsons Cos. to reduce climate impact. For more information, please visit https://www.albertsonscompanies.com/our-values/planet.html.
About Albertsons Companies
Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. Albertsons Companies operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets and Balducci’s Food Lovers Market.
Christine Wilcox
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JANESVILLE & FITCHBURG, Wis.--(BUSINESS WIRE)--#SHINE--SHINE Medical Technologies LLC and Phoenix LLC today announced that the companies have completed a merger under which Phoenix has become a wholly owned subsidiary of SHINE.
SHINE is a next-generation nuclear technology company focused on unlocking the power of fusion technologies to benefit the planet and humankind. The company’s goal is to deliver on the long-term promise of clean fusion energy by advancing fusion technology starting with the commercialization of medical isotopes. Phoenix designs and manufactures the world’s strongest steady-state fusion neutron generators used for advanced industrial imaging and other applications for improving safety and quality in the aerospace, defense, medical and energy sectors.
The combined company represents the first two phases of the long-term vision of Greg Piefer, the founder of both companies, for producing clean energy from fusion (see “SHINE’s Four-Phase Progression to Clean Energy Production” below). The goal of each phase of SHINE’s approach is to build additional capacity and capability, and deepen scientific understanding of fusion technology as it progresses to clean fusion energy production. Each step through the four phases is expected to provide further proof of the technology’s robustness, a foundation for ongoing innovation in the next phase and the creation of value for the company, its customers, and shareholders.
“SHINE and Phoenix have shared a common long-term vision and operated in close collaboration during the past 11 years, but it’s always been inefficient to operate as separate companies,” said Greg Piefer, CEO of SHINE. “Coming together will enable us to advance fusion technology more quickly by aligning interests and combining complementary core competencies. Through the four phases, we are taking a deliberate approach to building a company that can ultimately deliver cost-effective, clean fusion energy to billions, while serving important near-term market needs like advanced industrial imaging and medical isotopes, along the way.” For a video of additional comments from Greg Piefer, please click here (:46 broadcast-quality available for the media).
Phoenix has developed a strong track record of commercialization and revenue generation by applying its fusion-based technology to applications such as advanced industrial imaging, which can image modern materials in great detail, addressing quality assurance and safety needs in the aerospace, defense, energy, and other industries. These applications are part of Phase 1 of the four-phase approach.
The second phase of the approach involves applications of nuclear fusion to replace nuclear reactors used in the production of life-saving medical isotopes for diagnostic imaging, like molybdenum-99 (Mo-99), and with potential use as cancer therapeutics like lutetium-177 (Lu-177). This month, SHINE kicked off Phase 2 commercialization when it began producing Lu-177. In 2022, SHINE expects to commence production of up to 20 million doses of Mo-99 per year in its fusion-powered production facility in Janesville, Wis. The facility is expected to be the world’s largest-capacity medical isotope production plant.
“This merger is a natural evolution of our strong existing partnership with SHINE, rooted in our common origin and shared mission,” said Evan Sengbusch, general manager of SHINE’s Phoenix division. “Phoenix’s track record of successfully deploying our core neutron generation technology across multiple demanding market sectors has provided important commercial validation and risk reduction for critical technologies that underpin execution in Phase 2. We are excited to join with SHINE and leverage our complementary nuclear capabilities to advance towards clean fusion energy production.” For a video of additional comments from Evan Sengbusch, please click here (1:24 broadcast-quality available for the media).
Phoenix was founded in 2005 by Piefer to develop and commercialize a unique technology that generated neutrons through fusion. He spun SHINE out of Phoenix in 2010 to apply that technology to medical isotope production and other applications through the four-phase approach.
Evercore Group L.L.C. served as exclusive financial advisor to SHINE. Foley & Lardner served as lead legal counsel to SHINE. SVB Leerink served as exclusive financial advisor to Phoenix. Godfrey & Kahn S.C. served as lead legal counsel to Phoenix.
SHINE’s Four-Phase Progression to Clean Energy Production
About SHINE Medical Technologies
SHINE is a nuclear technology company committed to improving the lives of people and the planet. The company is focusing its fusion-based technology initially on advanced industrial imaging and the production of diagnostic and therapeutic isotopes. These isotopes include molybdenum-99, a diagnostic isotope used to diagnose heart disease, cancer, and other conditions, and lutetium-177, a therapeutic isotope that holds the promise of significantly improving the outcome of some cancer patients. SHINE has a long-term strategy to solve some of humanity’s biggest problems, including nuclear waste recycling and the production of clean fusion energy, in addition to advanced industrial imaging and medical isotopes, by pursuing our vision for progressively broad and impactful uses of fusion technology. For more information about SHINE, please visit our website at www.shinemed.com.
MALLORY PROUTY
CORPORATE COMMUNICATIONS PROJECT MANAGER, MBA
P: 608-530-5606 | M: 630-945-2379
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ROD HISE
DIRECTOR OF STRATEGIC COMMUNICATIONS
P 608-530-5659 | M 608-770-7850
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Using protective coating solution from LINE-X (normally sprayed on truck bedliners), Vietnam’s Quang Ninh Province to enhance the durability of Styrofoam floats for fish farmers and save aquatic life from pollution
HA LONG BAY, Quang Ninh Province, Vietnam & HUNTSVILLE, Ala.--(BUSINESS WIRE)--In celebration of Earth Day 2021, LINE-X, a U.S.-based leading manufacturer of high-performance protective coatings for truck bedliners, automotive and industrial uses, and its LINE-X Coating Developer in Vietnam, announced that they are working with Quang Ning Province in Vietnam to substantially reduce waste (by removing 3 million cubic meters of Styrofoam pollution in the next 10-20 years) in its Ha Long Bay region by applying coatings on the surface of foam floats used by local aquatic fish farmers. LINE-X is also contributing a sizeable amount of its coatings at no cost to the Quảng Ninh Province to further support the effort.
In 2015, Jenna Jambeck, an environmental engineer at the University of Georgia, analyzed plastic waste levels in the world’s oceans. According to her report, the 192 countries with a coast bordering Atlantic, Pacific and Indian oceans, Mediterranean and Black seas produced a total of 2.5 billion metric tons of solid waste. Of that, 275 million metric tons was plastic, and an estimated 8 million metric tons of mismanaged plastic waste entered the ocean in 2010. According to a 2017 report by Ocean Conservancy covered by Forbes, Vietnam is among the top five countries in the world contributing to ocean pollution.
A significant portion of Vietnam’s aquatic pollution stems from the country’s floating farms with the help of Styrofoam floats that range in size from small – 25cm x 30cm x 50 cm – to large – 50cm x 60cm x 100cm. However, each float only lasts up to a year before the water causes the Styrofoam to break off and crumble, causing not only immense pollution on the bay and shores, but dangers aquatic life as the fish tend to eat the foam. With an estimated 20 million floats used in Ha Long Bay alone, this has been a serious problem for the area for decades.
In response, Quảng Ninh Province launched environmental protection projects, which aimed at finding a solution to prevent plastic and Styrofoam waste in the bay as well as helping the region become a model city for waste management. After three years of research and running pilot programs, one of its solutions is to apply LINE-X coatings, a high performance polyurea protective coatings offering scientifically formulated polymers that permanently bond to a wide range of surfaces for unmatched durability, to each float. With LINE-X applied, the floats have proven to drastically harden and become more durable – without effecting buoyancy – while minimizing breakage and flaking. With the floats having around 1-year shelf life before breaking away, LINE-X has extended its lifespan to 10 years. Furthermore, the coating itself is environmentally safe – particularly when compared to other coating solutions – as it’s made up of 100% solids, are not made with any volatile organic compounds (VOCs) or harmful solvents, and once coated, it doesn’t emit any harmful chemicals.
The floats that have been coated with LINE-X since the start of the project have shown no signs of wear or tear. It’s estimated that in 10 years, 10 million floats will be coated with LINE-X to keep the bay from being polluted. It’s also estimated that in 10-20 years, 3 million cubic meters of Styrofoam pollution will be eliminated because of the coated floats. All pilot projects have worked so well that the People's Committee of Quang Ninh Province has issued Document No. 6419/UBND-MT, dated September 5, 2019, on strengthening environmental protection in aquaculture activities and construction of floating works in the Province. The regulation states: "in case of using foam buoys, it is required to coat LINE-X paint on the surface to increase the durability of foam buoys, resist impact, compression, prolong while using.”
Quang Ninh Province has also made LINE-X's Vietnam branch, also known as SHQ Quang Ninh Limited Liability Company (operated by CEO Lam Nguyen Manh Cuong in Vietnam as well as president Mike Le in the U.S.), the first organization to be officially certified to apply local foam buoys with LINE-X products, according to the Province's regulation QCĐP 08: 2020/QN dated August 30, 2020.
“We’re excited for LINE-X to be applied to the floats of our local fishing farms. It drastically expands the life of the float and supports our aquatic farms from a cost savings perspective,” said Mr. Tang Van Phien, a local farmer in the Ha Long Bay. “Not only will we be able to go longer without purchasing new floats year after year since they last longer, we will also be saving money for pollution cleanup. LINE-X is helping us environmentally and economically.”
Each float (i.e. 25cm x 30cm x 50 cm) is estimated to cost around $6 USD. With LINE-X now being added, the farming community in the bay will be saving about 40% in total investment cost across 10 years compared to using normal foam buoys. LINE-X is also extending its support for the effort by donating a sizeable amount of its spray on coatings, helping the farmers to save even more.
“To say we are thrilled and honored on all the wonderful accomplishments the people and environment of Quảng Ninh Province and Ha Long Bay will be able to attain using LINE-X is an understatement,” said Lam Nguyen Manh Cuong, CEO of LINE-X Vietnam. “The local province officials and others have been great to work with and I admire their relentless efforts to turn their fishing communities into models for modern-day waste management. I have no doubt they will reach that goal in the coming years and we’re excited to be a part this mission.”
Roberto Martinez, LINE-X’s Senior Vice President, Marketing and International Development, added: “Part of our mission at LINE-X is to provide a coating that helps protect the most important assets to industries and everyday people. It’s humbling to know that our product has even a deeper and more significant use across the world where families and farmers get to protect their aquatic environment and main food source. That’s truly remarkable. We’re also proud of the fact that the Vietnamese people are able to make their fish farms cleaner by using a coating that is safe for the environment compared to other solutions that are out there.”
About LINE-X
LLC LINE-X LLC (www.LINE-X.com) is a global leader in high performance polyurea protective coatings offering scientifically formulated polymers that permanently bond to a wide range of surfaces for unmatched durability. With the launch of the brand’s Truck Gear by LINE-X accessory line, LINE-X’s near-‘unbreakable’ coatings are complemented with premium, stylish truck offerings to make for a true one-stop truck customization solution at franchise locations across the United States and the globe. With prominent applications in the automotive, military, commercial, light industrial, heavy industrial, agricultural, marine and personal customization worlds, LINE-X brings legendary protection to any business or manufacturer serious about protecting and prolonging the life of its products. Headquartered in Huntsville, Ala., LINE-X supports more than 660 customers in 75 countries, manages eight warehouses across six continents, and employs an award-winning chemistry team with state-of-the-art product innovation lab. Follow LINE-X on Twitter @LINEXProtects, become a fan on Facebook of LINE-X Protective Coatings, follow LINE-X on Instagram @LINEXNorthAmerica, and check out what LINE-X is doing on YouTube at: www.youtube.com/LINEXProtects.
Hunter Dodson
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512-914-6745
– Conference Call to Follow at 4:30 p.m. ET/3:30 p.m. CT –
AMES, Iowa--(BUSINESS WIRE)--$REGI #REGI--Renewable Energy Group, Inc. (NASDAQ:REGI) today announced that it will release financial results for the first quarter 2021 after the market close on Monday, May 3, 2021. An investor conference call will follow at 4:30 p.m. ET/3:30 p.m. CT. The call will be hosted by Cynthia (CJ) Warner, President and Chief Executive Officer, Craig Bealmear, Chief Financial Officer, and Todd Robinson, Deputy Chief Financial Officer and Treasurer.
Investors in the U.S. interested in participating in the live call should dial 1-877-407-2987 (US callers) or 1-201-378-4918 (international callers) and provide passcode EQUI-EVT 26 to the operator. A telephone replay will be available at once after completion of the call through May 10, 2021 by dialing 1-877-660-6853 (US callers) or 1-201-612-7415 (international callers) and entering the conference ID 13719153.
A simultaneous live webcast will be available on the Investor Relations section of the Company's website at http://investor.regi.com/. The webcast will be archived on the website for six months.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high quality, cleaner fuels. REG is North America’s largest producer of biodiesel and an industry leading producer of renewable diesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes a global integrated procurement, distribution and logistics network to operate 13 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel delivering over 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Investor Relations:
Renewable Energy Group
Todd Robinson
Deputy Chief Financial Officer and Treasurer
+1 (515) 239-8048
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DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle (EV) Battery Housing Market - A Global and Regional Analysis: Focus on Battery Housing Materials, Component, Cell Format, and Application, Supply Chain Analysis, Country Analysis, and Impact of COVID-19 - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
The global EV battery housing market generated revenue of $873.4 million in 2020 and is expected to reach $4,478.0 million by 2025 at a CAGR of 36.9%.
The report constitutes an extensive study of the global EV battery housing market. It includes a thorough analysis of different vehicle types as well as different materials used in the EV battery housing systems.
In terms of volume, the total demand for EV battery housing material in 2020 was 279.7 kilotons, which is expected to increase to 1,167.3 kilotons in 2025, growing at a CAGR of 31.5% during the forecast period. Growing penetration of EVs across the globe, increasing EV range, and battery capacity coupled with demand for robust vehicle design is benefitting the market growth.
The EV battery housing market has further been segmented in terms of cell format, which helps in understanding the material requirements in battery enclosures of different battery packs. It further explains the driving forces, challenges, and growth opportunities of the EV battery housing market.
Major players have been identified on the basis of revenue generation pertaining to the EV battery housing market, regional presence, and developments related to battery enclosure systems. A detailed company profiling has been done in order to understand the player's strategic behavior.
Moreover, the country analysis has also been done in order to have a clear picture of the EV battery housing market. Different countries based on the adoption of the EV technology, battery production, battery enclosure manufacturing, and ongoing developments in the regions by the government as well as the private entities are some of the factors based on which countries growth rate has been calculated.
Competitive Landscape
In the recent past, partnership and new product launches have been the major recent activities in this industry. The growth in demand for advanced and light battery enclosure systems has made its providers focus on differentiated products, mainly based on aluminum and composite materials.
SGL Carbon, Novelis Inc., Nemak, S.A.B., de C.V., Constellium SE, Gestamp Automocion, UACJ Corporation, GF Linamar LLC, Hanwha Advanced Materials, Minth, Continental Structural Plastics, Thyssenkrupp AG, TRB Lightweight, Hitachi Metals, Ltd., POSCO, Norsk Hydro ASA
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Electric Vehicle Trends: Current and Future
1.1.2 EV Battery Housing Market: Overview
1.1.2.1 Timeline: Evolution of EV Battery Industry
1.1.2.2 Increasing EV Range: Decreasing Battery Pack Weight
1.1.2.3 Securing the Supply of Lithium-Ion Batteries by EV Manufacturers
1.1.3 Supply Chain Analysis/MAP
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Demand for EVs Globally
1.2.1.1.1 Rising Concern Toward the Environment
1.2.1.1.2 Increasing Government Support
1.2.1.2 Growing EV Battery Production and Robust Design Requirements
1.2.1.3 Continuously Declining Price of Li-Ion Battery
1.2.2 Business Challenges
1.2.2.1 Solid-State Batteries
1.2.2.2 Lack of Standardization
1.2.2.3 Underdeveloped Value Chain for Raw Materials in Developing Countries
1.2.3 Partnerships and Collaborations
1.2.4 Product Launches
1.2.5 Business Opportunities
1.2.5.1 Light Weight Battery Housing Systems: From Steel to Aluminum
1.2.5.2 Housing with Integrated Cooling Systems
1.2.5.3 Composite Battery Housings: Lightweight and Safe
2 Application
2.1 Application and Specification
2.1.1 Market Application and Specification Based on Cell Format
2.1.1.1 Pouch Cell
2.1.1.2 Cylindrical Cell
2.1.1.3 Prismatic Cell
2.1.2 Market Application and Specification Based on Vehicle Type
2.1.2.1 Plug-In Hybrid Electric Car
2.1.2.2 Battery Electric Car
2.1.2.3 E-Bus
2.1.2.4 E-Truck
2.2 Demand Analysis of EV Battery Housing Market (by Cell Format)
2.3 Demand Analysis of EV Battery Housing Market (by Vehicle Type)
3 Products
3.1 Global EV Battery Housing Market: Material and Specifications
a. Steel
b. Aluminum
c. Glass Fiber-reinforcede Polymer (GFRP)
d. Carbon Fiber-reinforced Polymer (CFRP)
3.2 Demand Analysis of EV Battery Housing Market (by Material)
3.3 Product Benchmarking: Growth Rate - Market Share Matrix
3.3.1 Opportunity Matrix, by Region
3.3.2 Opportunity Matrix, by Material
3.4 Technology Roadmap
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Who Supplies Whom?
5.2 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/r7f5fl
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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The company becomes a minority owner in Shell Rock Soy Processing
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) is securing feedstock for the company's growing portfolio of renewable fuels projects by investing in a new soybean-processing plant in Iowa.
The company’s investment gives it a minority ownership stake in Shell Rock Soy Processing, named after the nearby town in northeast Iowa where it will be built. The plant, which is pending state and local approvals, will yield approximately 4,000 barrels per day of soybean oil. Phillips 66 has an agreement to purchase 100% of the plant’s soybean oil production that will be used to make renewable fuels.
“This strategic investment expands our reach into the renewable diesel value chain and provides secure feedstock,” said Brian Mandell, Phillips 66 Executive Vice President of Marketing and Commercial. “It also reflects our commitment to play an important role in a lower-carbon energy future.”
The company unveiled plans last year to convert its Rodeo Refinery into one of the world’s largest renewable fuels facilities, capable of producing 800 million gallons per year of renewable diesel, renewable gasoline and sustainable aviation fuel from used cooking oils, fats, greases, vegetable oils and other feedstocks. The project, subject to permits and approvals, would be completed in early 2024.
“Phillips 66 represents what we believe to be the premier renewables platform, with a superior business plan and fantastic long-term prospects,” said Shell Rock Soy Processing CEO Mike Kinley. “As we reviewed our options for offtake partners, it was clear to us that Phillips 66 was the partner of choice for the long term.”
In addition to the soybean oil, Shell Rock Soy Processing will produce more than 900,000 tons per year of soybean meal and hulls for livestock feed. The plant is geographically advantaged, located in one of the top soybean production states with rail options that provide direct access to diverse markets.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains 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, which are intended to be covered by the safe harbors created thereby. Forward-looking statements may be identified by the use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized, and involve risks and uncertainties, many of which are beyond Phillips 66’s control, including but not limited to regulatory approvals and market conditions. A discussion of factors that may affect future results is included in Phillips 66’s filings with the Securities and Exchange Commission. Phillips 66 disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law.
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Bernardo Fallas (media)
855-841-2368
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HOUSTON--(BUSINESS WIRE)--United Salt Corporation, a privately owned company based in Houston and operating for almost 100 years, has revisualized its company image and brand identity. These changes are being introduced to better serve United Salt customers, while looking to accelerate planned strategic growth.
Under the leadership and guidance of the company’s new CEO, Marcie Peters, United Salt Corporation is introducing a new logo, new packaging and a more user-friendly website to reflect a modern sensibility, while continuing to serve long-standing customer needs and expectations.
“We have an exciting story to tell,” according to Ms. Peters. “We've been operating continuously for nearly 100 years. We are a family-owned company, and over half of our employees have worked for United Salt for much of their careers. Similarly, we have deep customer relationships, many of which go back decades and even longer. And while our brands are well known in the salt market, we wanted to build upon what makes us unique. We strive to appreciate what we do well and understand what we can do better. Most importantly, we hope our story will endure for the next 100 years and more."
Prior to joining United Salt Corporation, Ms. Peters most recently held the position of General Manager, Peroxides North America for Solvay Chemicals. She has a B.S. in Mechanical Engineering from the University of California, Los Angeles, and an M.B.A. from Case Western Reserve University, Cleveland, Ohio.
A fixture in Texas since 1928, United Salt Corporation and its affiliates now produce and distribute USC’s salt products from four salt mining and manufacturing facilities in the United States. The original of these facilities continues its operations in Hockley, Texas, and produces salt used in animal feed mix and salt licks, road deicing, and industrial applications. United Salt’s other products are made in Baytown, Texas, Saltville, Virginia and Carlsbad, New Mexico. This salt serves a diverse range of markets, including agriculture, water softening, consumer goods, food service, food processing, road deicing, shrimping and seafood fisheries, and industrial uses such as in leather tanning and oilfield drilling.
Rosemary Dunn
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SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV #AeroVironment--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), celebrated with its colleagues at NASA/JPL when data confirming the Ingenuity Helicopter’s successful first flight on Mars arrived at approximately 3:50 a.m. PT on April 19.
“AeroVironment is proud to have played a key role in developing the Mars Ingenuity Helicopter and achieving today’s historic first powered flight on another planet,” said Wahid Nawabi, AeroVironment president and chief executive officer. “We congratulate JPL and NASA on today’s achievement and salute their leadership and vision for deploying unmanned technology to further our understanding of other worlds.”
Since 2013, the AeroVironment team has worked closely with NASA rotorcraft experts and with JPL electrical, mechanical, materials, vehicle flight controls, and systems engineers on the Mars Ingenuity Helicopter project. AeroVironment’s contributions to Ingenuity include the design and development of the helicopter’s airframe and major subsystems, including its rotor, rotor blades, hub and control mechanism hardware. AeroVironment also developed and built high-efficiency, lightweight propulsion motors, power electronics, landing gear, load-bearing structures, and the thermal enclosure for NASA/JPL’s avionics, sensors, and software systems.
“AeroVironment’s deep, rich and diverse history of designing reliable and effective unmanned solutions that deliver mission success in extreme environments, combined with our experience with near-space aircraft, make us uniquely suited to collaborate with NASA and JPL,” Nawabi said. “We also incorporated the ultra-lightweight and ultra-high-precision methods integral to Nano projects that have been developed in our MacCready Works Advance Solutions laboratory, where we’ve assembled a dedicated team of the industry’s brightest and most experienced engineers to solve some of today’s greatest technological challenges.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Makayla Thomas
AeroVironment, Inc.
+1 (805) 520-8350
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Mark Boyer
For AeroVironment, Inc.
+1 (213) 247-4109
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DUBLIN--(BUSINESS WIRE)--The "Epoxy Resin Market in Pressure Vessels for Alternative Fuels by Vessel Type, by Application Type, by Vehicle Type, and by Region, Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
This strategic assessment report, from the publisher, provides a comprehensive analysis that reflects today's Epoxy resin market in reality and future possibilities for pressure vessels used in alternative fuels for the forecast period 2021 to 2026.
The report segments and analyzes the market in the most detailed and comprehensive manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
The global epoxy resin market in pressure vessels for alternative fuels grew continuously from 2015 to 2019 and was estimated to maintain its upward growth trajectory in 2020 as well. However, the rapid spread of the pandemic has drastically changed the entire market dynamics. The pandemic worsened the existing challenges of the automotive industry, weakened the industry sales to its lowest figure of the decade, which, in turn, affected the demand for epoxy resins in pressure vessels for alternative fuels.
Analogous to the projected recoveries in the industrial estimates for the automotive industry, the study of market recoveries in previous downturns (The Great Recession) and primary interviews across the supply chain, the publisher's estimates suggest that the market for epoxy resin in pressure vessels for alternative fuels is likely to commence rebounding from 2021 onwards, followed by maintaining sequential growth till 2026, ultimately reaching to the value of US$ 31.8 million by 2026.
Companies Mentioned
Key Topics Covered:
1. Executive Summary
2. Epoxy Resin Market in Pressure Vessels for Alternative Fuels - Overview and Segmentation
2.1. Introduction
2.2. Epoxy Resin Market Segmentation in Pressure Vessels for Alternative Fuels
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. PEST Analysis
2.6. SWOT Analysis
3. Epoxy Resin Market in Pressure Vessels for Alternative Fuels - The COVID-19 Impact Assessment
3.1. Insights
3.2. Epoxy Resin Market Trend and Forecast in Pressure Vessels for Alternative Fuels (US$ Million and Million Lbs.)
3.3. Pre-COVID vs Post-COVID Assessment
3.4. Real GDP Loss vs Epoxy Resin Market Loss in Pressure Vessels for Alternative Fuels (2020-2021)
3.5. Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic
3.6. Market Segments' Analysis (US$ Million and Million Lbs.)
3.7. Regional and Country-Level Analysis (US$ Million)
3.8. Market Drivers
3.9. Market Challenges
4. Competitive Analysis
5. Epoxy Resin Market Trend and Forecast in Pressure Vessels for Alternative Fuels by Vessel Type (2015-2026)
6. Epoxy Resin Market Trend and Forecast in Pressure Vessels for Alternative Fuels by Application Type (2015-2026)
7. Epoxy Resin Market Trend and Forecast in Pressure Vessels for Alternative Fuels by Application Type (2015-2026)
8. Epoxy Resin Market Trend and Forecast in Pressure Vessels for Alternative Fuels by Region (2015-2026)
8.1. Insights
8.2. North American Epoxy Resin Market in Pressure Vessels for Alternative Fuels Analysis: Country Analysis
8.3. European Epoxy Resin Market in Pressure Vessels for Alternative Fuels Analysis: Country Analysis
8.4. Asia-Pacific's Epoxy Resin Market in Pressure Vessels for Alternative Fuels Analysis: Country Analysis
8.5. Rest of the World's (RoW) Epoxy Resin Market in Pressure Vessels for Alternative Fuels Analysis: Country Analysis
9. Strategic Growth Opportunities
9.1. Market Attractiveness Analysis
9.1.1. Market Attractiveness by Vessel Type
9.1.2. Market Attractiveness by Application Type
9.1.3. Market Attractiveness by Vehicle Type
9.1.4. Market Attractiveness by Region
9.1.5. Market Attractiveness by Country
9.2. Emerging Trends
9.3. Growth Matrix Analysis
9.4. Strategic Implications
9.5. Key Success Factors (KSFs)
10. Company Profile of Key Players
10.1. Aditya Birla Chemicals Ltd.
10.2. Hexion Inc.
10.3. Huntsman Corporation
10.4. Nan Ya Plastics Corporation
10.5. Olin Corporation
10.6. The 3M Company
For more information about this report visit https://www.researchandmarkets.com/r/z652wk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Borrowing Base Increases 32%; Liquidity Exceeds $250 Million
THE WOODLANDS, Texas--(BUSINESS WIRE)--Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”), today announced that it has entered into an amendment to its senior secured revolving credit facility (“Credit Facility”) under which the borrowing base has been increased from $360 million to $475 million in connection with its regularly scheduled redetermination. Further, the amendment provides for an increase in the borrowing base from $475 million to $550 million upon closing of the Company’s previously announced acquisition of privately held assets located in the Midland Basin from Tracker Resource Development III, LLC and an affiliate and from affiliates of Sequel Energy Group LLC (collectively, the “Tracker Acquisition”).
As of March 31, 2021, we had $1.4 million in cash and $223.4 million of long-term debt outstanding under our Credit Facility. Adjusted for the increase in the borrowing base to $475 million, we had $251.6 million of undrawn borrowing base capacity and $1.4 million in cash, resulting in total liquidity of approximately $253.0 million. We continue to expect closing of the Tracker Acquisition to occur early in the third quarter of 2021. Based on the $81.6 million cash consideration to be paid in the Tracker Acquisition and anticipated interim period cash flows that will reduce the cash requirement at closing, we expect a slight increase in liquidity at closing of the acquisition given the concurrent $75 million increase in the borrowing base.
Robert J. Anderson, Earthstone’s President and CEO, commented, “The continued support of our lending group is reflective of our track record, strategy and financial discipline and we appreciate their participation. The support of our lenders along with our continued operational focus and acquisition activity emphasizing low-cost, high-margin producing assets has increased Earthstone’s scale and liquidity. Our strategy of consolidating assets to increase scale and efficiency remains intact with further optionality given our increased liquidity.”
About Earthstone Energy, Inc.
Earthstone Energy, Inc. is a growth-oriented independent oil and gas company engaged in the acquisition, development and operation of oil and natural gas properties. The Company’s primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas. Earthstone is traded on NYSE under the symbol “ESTE.” For more information, visit the Company’s website at www.earthstoneenergy.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects,” “believes,” “intends,” “anticipates,” “plans,” “estimates,” “guidance,” “target,” “potential,” “possible,” or “probable” or statements that certain actions, events or results “may,” “will,” “should,” or “could” be taken, occur or be achieved. The forward-looking statements include statements about the expected benefits of the proposed Tracker Acquisition to Earthstone and its stockholders, the anticipated completion of the proposed Tracker Acquisition or the timing thereof, the expected future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the combined company, and plans and objectives of management for future operations. Forward-looking statements are based on current expectations and assumptions and analyses made by Earthstone and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in Earthstone’s annual report on Form 10-K for the year ended December 31, 2020 and its other Securities and Exchange Commission filings. Earthstone undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.
Additional Information About the Proposed Tracker Acquisition
This release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of a vote or proxy.
In connection with the proposed Tracker Acquisition, Earthstone intends to file with the SEC and mail to its stockholders a proxy statement and other relevant documents in connection with the proposed Tracker Acquisition. EARTHSTONE URGES INVESTORS AND STOCKHOLDERS TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EARTHSTONE, TRACKER RESOURCE DEVELOPMENT III, LLC, SEQUEL ENERGY GROUP, LLC AND THE PROPOSED TRACKER ACQUISITION. Investors and stockholders will be able to obtain these materials (when they are available) and other documents filed with the SEC free of charge at the SEC’s website, www.sec.gov. In addition, a copy of the proxy statement (when it becomes available) may be obtained free of charge from Earthstone’s website at www.earthstoneenergy.com. Investors and stockholders may also read and copy any reports, statements and other information filed by Earthstone, with the SEC, at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC’s website for further information on its public reference room. In addition, the documents filed with the SEC by Earthstone can be obtained free of charge from Earthstone’s website at www.earthstoneenergy.com or by contacting Earthstone by mail at 1400 Woodloch Forest Drive, Suite 300, The Woodlands, Texas, 77380, or by telephone at (281) 298-4246.
Mark Lumpkin, Jr.
Executive Vice President – Chief Financial Officer
Earthstone Energy, Inc.
1400 Woodloch Forest Drive, Suite 300
The Woodlands, TX 77380
281-298-4246
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Scott Thelander
Vice President of Finance
Earthstone Energy, Inc.
1400 Woodloch Forest Drive, Suite 300
The Woodlands, TX 77380
281-298-4246
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First of its kind UCLA study released as state lawmakers consider Governor Newsom’s budget proposal, which includes $1.5 billion to zero-emission vehicle expansion
LOS ANGELES--(BUSINESS WIRE)--To reach Gov. Gavin Newsom’s net-zero emission vehicle (ZEV) goal by 2035, officials must put equity goals at the forefront of the state’s ZEV strategy – or risk falling short of benchmarks and worsening disparities in priority communities, according to new research by the UCLA Luskin Center for Innovation. The study, An Agenda for Equity-Centered Clean Transportation, was released today amid what could be a momentous budget season for climate change action, highlighting challenges and opportunities amid California’s push to cut carbon emissions and local air pollution.
The groundbreaking research, which links equity to the effectiveness of the state’s ambitious zero-emission vehicle push, will be delivered to the Governor’s office to help establish equity metrics and principles to inform ZEV policy from the ground up. The study comes as state lawmakers consider Gov. Newsom’s 2021-22 budget proposal, which includes a $1.5 billion fiscal blueprint to achieve the state’s zero-emission vehicle goals in the coming decades.
“As California transitions to a zero-emission transportation system, it needs a robust and multifaceted agenda for equity-centered clean transportation policies,” said J.R. DeShazo, director of the Luskin Center for Innovation at UCLA, which conducted the study. “Pursuing this agenda of recommendations elevates and builds equity into the next generation of California’s clean transportation policies.”
The study underscores that the past decade of clean transportation policies has not equally benefited all Californians. Instead, low-income communities hit hardest by pollution have been largely left behind in the green transition – disparities that threaten to impact communities of all income levels through climate change. Policymakers must design and pursue a deliberate, overarching policy and regulatory framework to send zero-emission vehicles to low-income areas at scale, researchers determined.
The research was commissioned by the Los Angeles Business Council Institute and aided by a working group of key community advocates, business leaders, and policymakers who helped inform the findings.
“The climate crisis threatens the lives and health of millions of Californians, and policymakers need to build from the ground up taking thoughtful, evidence-based action to protect our communities,” said Mary Leslie, president of the LABC. “These recommendations provide an important foundation to create equitable policies, build stronger communities, and achieve our clean transportation goals.”
The greatest hurdle to meeting environmental goals appears to be directing clean vehicles to moderate- and low-income drivers who are more likely to own older, emissions-heavy vehicles. In response, researchers recommend pursuing reforms to lower the purchase price of new and used zero-emission vehicles, subsidize vehicle financing, and reduce the cost of both charging infrastructure and the electricity or fuel itself.
“History tells us that equity doesn’t happen by accident. It requires deliberate, proactive measures to create fair outcomes, no matter your zip code,” said Bahram Fazeli, director of research and policy at Communities for Better Environment. “Our state’s zero-emission vehicle strategy must consider the importance of equity from the ground up. These recommendations make clear what must be done.”
A key recommendation is to ensure public and private zero-emission fleets are first deployed to disadvantaged communities. From parcel delivery vehicles to school buses and police cruisers, these fleets can help clean air in disadvantaged communities. Policymakers can drive these changes through public contracts and licenses, as well as through public-private partnerships.
The research also recommends expanding investments in e-mobility and e-transit, such as electric scooters and bikes, to bridge these gaps.
“‘Equity in every decision’ is the foundation of California’s recently released ZEV Market Development Strategy,” said Tyson Eckerle, deputy director of Zero Emission Vehicle Market Development in the California Governor's Office of Business and Economic Development. “This study is a key building block in turning that foundation into a reality shared by all of California's diverse regions and communities.”
The state’s zero-emissions benchmark stems from Gov. Newsom’s ambitious September 2020 executive order, which set a goal to make all in-state sales of new passenger cars and trucks zero-emission by 2035. All medium- and heavy-duty vehicles should be zero-emission by 2045, the order says.
About the Los Angeles Business Council Institute
The LABC Institute is a forward-thinking research and education organization dedicated to strengthening the sustainable economy of California, particularly the Southern California region. Founded in 2010, the LABC Institute provides a bridge between the business, government, environmental, labor and nonprofit communities of Southern California to develop policies and programs that promote investment, jobs and business development. We are the research and education arm of the Los Angeles Business Council, one of the most respected business advocacy organizations in Southern California.
Malina Brown
(310) 717-2208 | This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) today announced that it has been awarded a significant(1) subsea contract from Petrobras (NYSE: PBR) for the Marlim and Voador fields, located offshore Brazil.
TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes associated tools, spares and services.
The RVC is a unique robotic technology that replaces traditional subsea hydraulics, as well as thousands of mechanical parts, while providing real-time data and analysis on system performance. This results in a manifold that is smaller, less complex and less costly with a significantly reduced carbon footprint. Moreover, the RVC’s software can be remotely upgraded and maintained subsea, increasing the overall reliability and availability of the subsea system.
Jonathan Landes, President Subsea at TechnipFMC, commented: “We are honored that Petrobras has selected us to support the ongoing development of the Marlim and Voador fields. We look forward to executing this project using our local capabilities in Brazil and contributing to another important development in the country.
“We are very excited to bring new technology and automation capabilities to this project through the use of the RVC to operate the manifolds. Our innovations in automation and electrification are helping our clients lower their operational expenditures and reduce the carbon intensity of their subsea projects.”
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.
Note: this inbound order was included in the Company’s first quarter financial results.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President Investor Relations
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James Davis
Senior Manager Investor Relations
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Media relations
Nicola Cameron
Vice President Corporate Communications
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Brooke Robertson
Public Relations Director
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Founder Albert Straus Mitigates Climate Change with Dairy Farming Model that Reduces Methane Emissions and Generates Income for Dairy Farmers
PETALUMA, Calif.--(BUSINESS WIRE)--#AlbertStraus--Straus Family Creamery, a leader in climate-positive organic dairy farming innovation, announces the evolution in a first-of-its-kind collaboration with BMW Group. Through California Air Resources Board’s Low Carbon Fuel Standard (LCFS) Program, BMW can “power” their customers’ electric vehicles with ultra-low carbon intensity electric fuel produced from biodigester technology on the Straus Organic Dairy Farm. The BMW collaboration strengthens Albert Straus’ vision to create a replicable carbon-neutral farming model on his farm, and it provides an opportunity for California dairy farmers to generate new income sources.
First-of-its-Kind Collaboration: Straus Organic Dairy Farm and BMW Group
The Straus Organic Dairy Farm and BMW Group’s collaboration created a new farm-to-electric pathway in 2019 that ensured the Straus farm could recently invest in and test an advanced biodigester technology. With costs between $1 and $2 million, small-scale methane digesters have not been affordable for smaller dairies. This advanced technology is an upgraded version of the methane biodigester that has been operating on the Straus farm since 2004.
“Dairy farms have an essential role in being a solution to climate change. I really appreciate BMW Group’s willingness and collaboration in helping us create a viable farming system,” said Albert Straus, founder and CEO, Straus Family Creamery.
Low Carbon Fuel Standard Program Successes
Straus Organic Dairy Farm’s methane biodigester converts the methane from cows’ manure into electricity and is on track to generate approximately 250 megawatts of renewable electricity in 2021. The newly designed biodigester technology will help make methane biodigesters more affordable for small-scale organic dairy farms, enabling the reduction of methane (a greenhouse gas which is 86 times more potent than carbon dioxide) emissions and creating additional revenue sources for farmers through the sale of carbon credits through the LCFS program.
A biogas generator currently powers the Straus Organic Dairy Farm and exports energy to the California power grid. In January 2021, the electricity started being used to “power” BMW electric vehicles. This collaboration creates two to four times more revenue than the standard utility agreement for the Straus farm. The biodigester also helps the Straus farm decrease yearly methane emissions by 720 metric tons as it generates renewable energy.
Organic Dairy Farming Creates Cow-Powered Climate Change Solutions
“The exciting thing about dairy biodigesters is that they create a double-carbon emission reduction. On the one hand, they capture methane emissions from manure on farms that would otherwise be released into the atmosphere. And they also produce electricity which replaces fossil-fuel generation on the grid,” said Adam Langton, Energy Services Manager of Connected mobility, BMW of North America.
Farmers are addressing methane emissions under the state’s greenhouse gas reduction laws passed several years ago. These laws mandate a methane emission reduction of 40 percent below 2013 levels by 2030. The digester trial on the Straus Organic Dairy Farm demonstrates a model for small-scale organic dairy farmers who want to adopt methane biodigester technology.
The climate crisis is an urgent concern for businesses and agricultural communities. The Biden administration is paying close attention to agriculture, both for its role in creating emissions and its role in mitigating them. Science is focusing on regenerative farming (also known as carbon farming) practices that focus on reducing carbon in the atmosphere through sequestering carbon back into the soil and reducing methane emissions through manure management.
“Achieving a dramatic reduction in climate emissions from dairy farms requires multiple solutions, but the central piece of the dairy farm carbon-neutral equation is methane biodigester technology,” said Joseph Button, Sustainability Director, Straus Family Creamery.
BMW Group’s new ChargeForward is the first smart charging program to offer customer incentives for maximizing the integration of renewable energy with EV charging. “Renewable energy is a key component of BMW Group’s sustainability strategy. We are aiming to power all of our electric vehicles here in California with 100 percent clean energy, and the partnership with Straus Organic Dairy Farm is helping us make this a reality in California,” said Langton.
Launching next week, this advanced smart charging initiative is available to all BMW battery electric (BEV) and plug-in hybrid (PHEV) vehicle drivers in Northern and Central California who are also PG&E residential, electric customers. Interested BMW EV consumers can complete an application at www.bmwchargeforward.com to check eligibility.
Click here to watch a video and download an infographic to learn more about the Straus Family Creamery and BMW Group collaboration. A longstanding proponent of climate-smart agriculture, Albert Straus and Straus Family Creamery demonstrate that organic dairy farming is a climate change solution. Click here for their latest Sustainability Report.
About Straus Family Creamery
Based in Petaluma, CA, Straus Family Creamery is a Northern California, certified organic creamery offering minimally processed organic dairy products made from organic milk supplied by family farms in Marin and Sonoma Counties, including the Straus Organic Dairy Farm, which is the first certified organic dairy farm west of the Mississippi River. Straus Family Creamery, the first 100 percent certified organic creamery in the United States, continues to make business decisions based on its mission to help sustain family farms, revitalize rural communities, and protect the environment. The family-owned business sustains collaborative relationships with the family farms that supply it milk, offering stable prices and predictability in what can otherwise be a volatile marketplace. Learn about the Straus difference at StrausFamilyCreamery.com, Facebook, Instagram, Twitter, YouTube, and Linkedin.
About BMW Group in America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and Rolls-Royce Motor Cars; Designworks, a strategic design consultancy based in California; technology offices in Silicon Valley and Chicago, and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is the BMW Group global center of competence for BMW X models and manufactures the X3, X4, X5, X6 and X7 Sports Activity Vehicles. The BMW Group sales organization is represented in the U.S. through networks of 348 BMW passenger car and BMW Sports Activity Vehicle centers, 144 BMW motorcycle retailers, 116 MINI passenger car dealers, and 38 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group’s sales headquarters for North America, is located in Woodcliff Lake, New Jersey.
Shereen Mahnami
Director of Communications
Straus Family Creamery
707-776-2887x2149
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Haven Bourque
HavenBMedia
415-505-3473
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today that there will be no distribution paid for the month of April 2021 to holders of record as of the close of business on April 30, 2021, as costs, charges and expenses attributable to the Trust’s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by the volatility in commodity prices. There was a substantial decrease in oil and natural gas prices in 2020 due in part to significantly decreased demand as a result of the COVID-19 pandemic and an oversupply of crude oil. Oil and natural gas prices could remain low for an extended period of time, which in turn could have a material adverse effect on Trust distributions. Continued low oil and natural gas prices, among other things, will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust’s Form 10-K for the year ended December 31, 2020 under “Part I, Item 1A. Risk Factors.” Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
http://mtr.q4web.com/home/default.aspx
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
DECATUR, Ala.--(BUSINESS WIRE)--Warren Equity Partners, a lower middle market private equity fund, is pleased to announce the acquisition of Magnolia River International, Inc. (“Magnolia River” or the “Company”). Magnolia River, based in Decatur, AL, is a premier provider of inspection, engineering and design, and geographic information system (GIS) services for natural gas distribution and transmission pipeline and water utility infrastructure and operations. Warren Equity acquired a majority interest in Magnolia River from founder Ronnie Hoff and other shareholders. Financial terms of the transaction were not disclosed.
“We are very excited to partner with the Magnolia River team. Over its 20-year history, the Company has become a leading provider of infrastructure inspection services with a strong reputation for safety, service, and technical expertise,” said Steven Wacaster, Managing Partner at Warren Equity.
The Company offers technology-enabled underground infrastructure services to over 50 investor-owned utilities, municipalities, and industrial customers across 25 states. Magnolia River leverages a highly-trained and certified base of in-house inspectors, engineers, and GIS professionals across thirteen offices to support its customers’ pipeline replacement, deployment, and integrity management requirements. The Company supplements its services with proprietary software solutions (including flagship platforms FlowGIS™ and FieldLogIQ™) designed to help customers reduce costs, optimize field operations, boost data management, and ensure regulatory compliance.
“We chose to partner with Warren Equity because of their utility and industrial services expertise, proven track record of scaling similar business models, and strong cultural fit,” said Heath McCleskey, President and Board member of Magnolia River. “With Warren Equity, we have found a value-add partner who will help us execute our strategic growth plan and who shares our vision of making the world safer by providing innovative solutions to the utility infrastructure industry.”
“We are proud to partner with a firm who is strongly aligned with the culture and values of Magnolia River and who will provide valuable stewardship during our next phase of growth,” added Ronnie Hoff, Founder of Magnolia River.
“Magnolia River sits at the intersection of several, compelling industry tailwinds including continued investment in infrastructure safety and efficiency, growing adoption of technology and technology-enabled services to track utility asset performance and optimize field operations, and increasing demand for outsourced services,” added Michael Ouyang, Vice President at Warren Equity. “We look forward to working with management to continue to drive organic growth and deploy an effective acquisition strategy in this highly fragmented market.”
This transaction represents Warren Equity Partners’ fourteenth platform investment and 45th acquisition since its formation in mid-2015.
About Warren Equity Partners
Warren Equity Partners is a private equity firm that invests in middle market operating companies primarily in North America. The firm focuses on situations where additional capital and operating resources can accelerate growth, targeting the industrial, infrastructure, and business services sectors. Warren Equity invests in the form of buyouts, growth equity, and recapitalizations. For more information, please visit www.warrenequity.com.
About Magnolia River
Founded in 2000 and based in Decatur, AL, Magnolia River provides inspection, engineering, GIS, and technology solutions for utility and natural gas pipeline infrastructure and operations. Utility, municipality, and industrial customers across the Southeast, Southwest, and Midwest rely on the Company for their pipeline replacement, deployment, and maintenance requirements. Magnolia River also offers a suite of proprietary technology solutions within its GeoCurrent business unit to empower utility and pipeline operators through value-based technology to reduce costs, make field work more efficient, and meet regulatory needs. For more information, please visit www.magnolia-river.com.
J. Heath McCleskey
Magnolia River
President
(256) 773-9420
MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro”) (NYSE: PUMP) today announced that it will issue its first quarter 2021 earnings release on Tuesday, May 4, 2021 after the close of trading. ProPetro will host a conference call on Wednesday, May 5, 2021 at 8:00 AM Central Time to discuss its first quarter results.
To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s web site, www.propetroservices.com.
A replay of the conference call will be available for one week following the call and can be accessed toll free by dialing 1-877-344-7529 for U.S. callers, 1-855-669-9658 for Canadian callers, as well as 1-412-317-0088 for international callers. The access code for the replay is 10155044.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
David Schorlemer, 432-688-0012
Chief Financial Officer
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