NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) announced today that its wholly-owned subsidiary, Superior Plus LP (“Superior LP”) has closed the previously announced private placement (the “Offering”) of CDN$500 million aggregate principal amount of 4.25% senior unsecured notes due May 18, 2028 (the “Notes”). The Notes were issued at par and have been guaranteed by Superior and certain of its subsidiaries. Interest on the Notes will be payable semi-annually in arrears on May 18 and November 18 of each year, commencing on November 18, 2021.

The Offering was underwritten by National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. as joint bookrunners, and a syndicate of underwriters, including, ATB Capital Markets Inc., Canaccord Genuity Corp., Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., Wells Fargo Securities Canada, Ltd., Casgrain & Company Ltd., Cormark Securities Inc., iA Private Wealth Inc. and Raymond James Ltd.

The Notes were offered on a private placement basis to certain accredited investors in the provinces of Canada. The Notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and were offered and sold in the United States only to qualified institutional buyers in reliance on the exemption from such registration requirement contained in Rule 144A under the U.S. Securities Act and comparable exemptions under applicable state securities laws. The Notes have not been and will not be qualified under the securities laws of any province or territory of Canada for distribution to the public and may not be offered or sold directly or indirectly in Canada or to or for the benefit of any resident of Canada except pursuant to applicable prospectus exemptions.

As previously disclosed, Superior LP intends to use the net proceeds of the Offering, together with borrowings under its credit facilities and cash on hand, to early redeem all of its outstanding: (i) CDN$400 million principal amount of 5.25% senior unsecured notes due February 27, 2024 (the “2024 Notes”) on May 27, 2021 in accordance with the indenture governing the 2024 Notes; and (ii) CDN$370 million principal amount of 5.125% senior unsecured notes due August 27, 2025 (the “2025 Notes”) on May 19, 2021 in accordance with the indenture governing the 2025 Notes. The previously announced early redemptions of the 2024 Notes and 2025 Notes were each initially subject to the condition precedent that the Offering is successfully completed. This condition precedent to each of these redemptions has now been satisfied in full.

This press release does not constitute an offer to sell or an offer to purchase, or a solicitation of an offer to sell or an offer to purchase, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful.

About Superior Plus Corp.

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).

Forward Looking Information

Certain information included herein is forward-looking, within the meaning of applicable Canadian securities laws. Such information is typically identified by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will” or similar expressions suggesting future outcomes. Forward-looking information in this news release includes forward looking information relating to the redemption of the 2024 Notes and 2025 Notes. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such information should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved, including risks and assumptions relating to Canadian and U.S. market conditions and completion of the redemption of the 2024 Notes and 2025 Notes. Forward-looking information herein is based on information currently available to Superior. No assurance can be given that these assumptions and expectations will prove to be correct. Should one or more of these risks and uncertainties materialize, or should assumptions described above prove incorrect, Superior’s actual performance and results in future periods may differ materially from any projections of future performance or results expressed or implied by such forward-looking information. Superior cautions readers not to place undue reliance on this information as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information.

Forward-looking information contained in this news release is provided for the purpose of providing information about management’s goals, plans and range of expectations for the future and may not be appropriate for other purposes. Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015

Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587).

AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression”) today announced that its senior management will participate in the 2021 Energy Infrastructure Council Investor Conference. Senior management expects to participate in a series of virtual meetings with members of the investment community on May 20, and presentation materials used during these meetings will be posted to USA Compression’s website prior to the investor meetings. Please visit the Investor Relations section of the website at usacompression.com under “Presentations.”

About USA Compression Partners, LP

USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.

USA Compression Partners, LP
Matthew Liuzzi, CFO
(512) 369-1624
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DUBLIN--(BUSINESS WIRE)--The "Business Layout of Overseas Players in Hydrogen Energy Market in China" report has been added to ResearchAndMarkets.com's offering.

This report of overseas companies' strategies in the Chinese hydrogen and fuel cell industry covers the leading companies that deal with fuel cell for automotive and stationary application, air compressor, on board vehicle hydrogen cylinder, hydrogen supplier etc.

The contents include in depth analysis of the current and future business layout of major overseas players in China hydrogen industry as well as each player's general introduction, product information, key milestone activities in hydrogen industry in China, analysis of the business model, revenue structure, as well as partnership ecosystem etc.

The data for each company includes an overview such as a year of establishment, address of their headquarters, their registered capital, revenue, executive board, number of employees, major shareholders, contact information and web site, complete set of product information, as well as value chain information which include their product component suppliers, customers and strategic partners.

Key Topics Covered:

• Ballard Power Systems
• Maximator in China
• Nedstack in China
• PDC in China
• Hexagon in China
• Air Liquide in China
• Air product in China
• Linde in China

   

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

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today published metrics aligned with standards developed by the Sustainability Accounting Standards Board (“SASB”). Matador is committed to creating long-term value in a responsible manner and aligning its ongoing environmental, social and governance (“ESG”) reporting with SASB. The publication of these metrics represents the next step in Matador’s continued efforts to highlight its commitment to ESG excellence. Matador’s SASB metrics are available on the Company’s website at www.matadorresources.com/sustainability, and Matador expects to disclose additional metrics as they become available later in the year.

Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “At Matador, good stewardship has always been a guiding focus. Over the years, we have consistently highlighted our ESG achievements and now are pleased to align these disclosures with an emerging industry standard. We hope this change helps to raise the profile of our ongoing ESG efforts and provide interested parties a standardized version of Matador’s ESG efforts. We look forward to continuing to explore ways to provide our stakeholders with clear, comparable ESG information.”

In 2020, Matador grew gross operated oil production by 13% and gross operated natural gas production by 19%, as compared to 2019, while still reducing our environmental impact and continuing our strong safety record. Highlights from Matador’s 2020 ESG initiatives include:

• Decreased emissions intensity by 19% and flaring intensity by 38%, as compared to 2019;
• Decreased consumption of fresh water by 49%, as compared to 2019;
• Transported 96% of operated produced water and 65% of operated produced oil by pipeline;
• Incurred zero lost time incidents during more than 2.1 million employee man-hours from 2017 to 2020;
• Provided approximately 15,000 hours of employee continuing education, equating to approximately 55 hours per employee; and
• Revised the mandate of the Board of Directors’ Environmental, Social and Corporate Governance Committee to enhance the focus, oversight and support for the Company’s ESG efforts and to measure improvements.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, increases in its borrowing base and otherwise; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and our business; the operating results of the Company’s midstream joint venture’s Black River cryogenic natural gas processing plant; the timing and operating results of the buildout by the Company’s midstream joint venture of oil, natural gas and water gathering and transportation systems and the drilling of any additional produced water disposal wells; and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Mac Schmitz
Capital Markets Coordinator
(972) 371-5225
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Exclusive global community, publicly available research and education are features of program

SEATTLE--(BUSINESS WIRE)--The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today announced the CSA CxO Trust, a first-of-a-kind initiative that will bring together a community of C-suite executives to evolve cloud and cybersecurity understanding, knowledge, and needed solutions in response to enterprise challenges.

Aimed at C-level leaders from various industry sectors with a vested interest in the successful evolution of cloud infrastructures and other related services, the CSA CxO Trust will spearhead, shape, and influence related security mappings and benchmarks. The leaders will also work together to develop practical privacy and governance models, training and certificate programs, mentorship and hiring best practices, wider regulatory/legislative programs, and product and services development. The program will have capabilities that are the hallmark of CSA: freely available community-driven research, timely education, and private collaboration among peers.

“We seek to improve the quality of the dialogue between CISOs, IT executives, other members of the C-Suite, and their respective boards of directors around the fundamental topics of cloud and cybersecurity. Cloud is now the top and enduring information technology priority. Who better than CSA to bring a fresh approach to providing the right data in the right context regarding cloud and cybersecurity to the boardroom?” said Jim Reavis, co-founder and CEO, Cloud Security Alliance. “A recent CSA survey found that 47 percent of organizations in the cloud are concerned about their staff’s lack of cloud expertise. Our belief is that a similar gap exists within leadership, and we intend to address it.”

Eventually compartmentalized by vertical market and region, the CSA CxO Trust will guide research initiatives, use-cases, sector-specific service provider surveys/needs, templates, benchmarks, and more. Additionally, the group will also seek to influence and guide the codification of cloud expertise needed in organizations today.

“We have interviewed a large number of CISOs and other C-level stakeholders about their pain points in preparation for this initiative and are identifying common themes, such as managing third-party risk, effective board presentations, cloud compliance, and quantifying the value of cybersecurity to the business. CSA’s access to a strong, well-rooted community of C-level leaders from different sectors will help to drive solutions for these pain points,” said CSA President Illena Armstrong.

A fundamental research whitepaper for this initiative will be our regularly updated Top Cloud Priorities for CxOs. A preliminary list of priorities has been developed and is available for download here. It will be used as a foundation for the CSA CxO Trust Working Group, which will commence in Q3 2021.

The first phase of the program will see the establishment of the CxO Trust Advisory Council. Composed of C-level executives from CSA corporate members, the group will be called upon to contribute to and advise on the overall strategy and roadmap of this broad-based program’s offerings. In addition to guiding the CxO Trust and its related offerings, the Council also will be asked to help steer the aforementioned Working Group. Those interested in participating in the CxO Trust Advisory Council are asked to contact Illena Armstrong at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit http://cloudsecurityalliance.org/cxo-trust for more information.

About Cloud Security Alliance

The Cloud Security Alliance (CSA) is the world’s leading organization dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment. CSA harnesses the subject matter expertise of industry practitioners, associations, governments, and its corporate and individual members to offer cloud security-specific research, education, training, certification, events, and products. CSA's activities, knowledge, and extensive network benefit the entire community impacted by cloud — from providers and customers to governments, entrepreneurs, and the assurance industry — and provide a forum through which different parties can work together to create and maintain a trusted cloud ecosystem. For further information, visit us at www.cloudsecurityalliance.org, and follow us on Twitter @cloudsa.

Kari Walker for the CSA
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SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced that Steven A. Gitlin, chief marketing officer and vice president of investor relations, will present at the 16th Annual Needham Virtual Technology & Media Conference on Wednesday, May 19, at 10:30 a.m. PT / 1:30 p.m. ET.

A live video webcast of the presentation will be available in the Events and Presentations section of the AeroVironment website at https://investor.avinc.com/events-and-presentations. A replay of the webcast will be available for 90 days.

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 intelligent, multi-domain robotic 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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Demand for transaction analysis and infrastructure services leads global management consulting leader to elevate team leaders

OVERLAND PARK, Kan.--(BUSINESS WIRE)--As organizations around the globe work to modernize aging infrastructure, embrace decarbonization and adopt advanced technologies, Black & Veatch Management Consulting, LLC, announces today that it has promoted three leaders to expand its strategic services for new and existing clients. Deepa Poduval has been named Vice President and Chris Klausner and M. Joe Zhou have each been named Associate Vice President in the management consulting business. These professional serve in key roles delivering financial, operations and technology consulting services across the power, water, oil & gas and communications sectors.

These promotions come as clients across the globe plan, fund and modernize aging utility infrastructure; plan, execute and fund decarbonization strategies; and adopt and implement advanced operational technologies at accelerating rates. Black & Veatch management consulting leader services respond to the surging need to apply targeted solutions, including integrated strategy, transaction advisory, business operations, regulatory and technology solutions for the global power, water, oil and gas, telecommunications and other industries.

“These three experts each have unique skill sets that expand our ability to deliver high-value full life cycle services to our clients,” said Martin Travers, group president with Black & Veatch. “Backed by extensive consulting experience, these professionals enable our clients to achieve their business-critical goals.”

• As Vice President, Poduval leads the company’s Strategic Advisory practice. She provides executive management for transactions advisory, regulatory, financial advisory and energy market planning services for global clients spanning the electric, water, oil & gas, commercial and industrial (C&I) and financial sectors. She brings substantial finance, utility and energy industry knowledge, and is invested in supporting a strategic portfolio approach to progress decarbonization and sustainability.
• Klausner, Associate Vice President, leads the Transactions Advisory practice and is responsible for execution and oversight of independent engineering assessments for project lenders, private equity investors, developers, energy companies, and other institutional investors pursuing infrastructure mergers and acquisitions and investments. He also provides market insights for Black & Veatch’s Energy Market Perspective (EMP) 25-year market price forecast for North American energy markets.
• As Associate Vice President, Zhou leads the Infrastructure Modernization and Connected Customer practices, which help drive the modernization of energy infrastructure through advanced asset management tools and strategies, operational technology management expertise, smart grid technologies and asset investment planning for utilities and large C&I clients. As a thought leader in advocating industry standards and best practices for grid modernization, Zhou brings extensive consulting and executive management experience to our clients. Zhou has led technology transformation efforts for more than 35 utilities across North America and worldwide.

Editor’s Notes:

• Last month, Women Engineering magazine recognized Black & Veatch as a Top 50 employer for providing a positive working environment for women.
• Earlier this year, Black & Veatch Management Consulting announced it was adding regulatory and strategic leaders Kristie Deiuliis and Ralph Zarumba to help expand its energy and infrastructure service offerings.
• Download a headshot of Deepa Poduval, Chris Klausner and Joe Zhou.

About Black & Veatch Management Consulting, LLC

Black & Veatch Management Consulting, LLC provides integrated strategy, transaction advisory, business operations, regulatory and technology solutions for the global power, water, oil and gas, telecommunications and non-traditional industries. Our highly experienced team of professional consultants bring together combined expertise in advanced analytics and practical business sense with extensive technology and engineering capabilities. We deliver solutions that work best for your transformation, program needs, organization, assets and customers.

About Black & Veatch

Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.

MELINA VISSAT | +1 303-256-4065 P | +1 617-595-8009 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 866-496-9149

OKLAHOMA CITY--(BUSINESS WIRE)--BCE-Mach III LLC recently signed a purchase and sale agreement to acquire producing properties in Western and Southern Oklahoma and the Texas Panhandle from Cimarex Energy. The acquisition, expected to close in June 2021, also includes two gas gathering and processing assets located in Southern Oklahoma.

BCE-Mach III LLC was formed in early 2020 and in April 2020 acquired the upstream and midstream assets from Alta Mesa Holdings, LP and Kingfisher Midstream, LLC, which are primarily located in Kingfisher County, Oklahoma. In total, Bayou City Energy Management LLC (“BCE”) and Mach Resources LLC (“Mach”) have made eight separate acquisitions since 2018 across the three BCE-Mach portfolio companies (collectively “BCE-Mach”).

BCE-Mach has assembled an expansive upstream portfolio of Anadarko Basin assets across 46 counties in Oklahoma, Kansas and the Texas Panhandle including interest in over 7,200 producing wells (over 3,100 operated producing wells), more than 700,000 net acres (96 percent held by production), and net production of ~48,000 boe/d (50 percent liquids). Additionally, BCE-Mach owns and operates an extensive infrastructure portfolio including two fully integrated water transfer and disposal systems (~700 miles of water pipelines and ~45 disposal wells), three gas gathering and processing systems (~310 MMcf/d processing capacity and ~450 miles of gathering lines), a ~85,000 HP compression fleet, and a crude gathering system (108 miles of pipeline and 50,000 bbl storage facility).

“We continue to have success adding to our holdings in the Mid-Continent region,” said CEO Tom Ward. “As a result of our scale in the area across our platforms, we are able to bolt on an acquisition of this size with minimal incremental overhead costs. In conjunction with our team’s expertise in the region and strong financial standing, we expect to extend our acquisition successes.”

“Our partnership with Mach has again resulted in owning more producing assets at attractive valuations,” said Will McMullen, BCE’s managing partner. “Generating free cash flow from our platform assets will continue as our overriding strategy. For 2021, we should exceed $200 million after accounting for all CAPEX, G&A, and debt interest expenditures, helping achieve a combined net debt to EBITDA multiple of a less than 0.25x. With this formidable financial strength, we will add to the Mid-Continent producing holdings and prudently develop the assets when appropriate. We will also evaluate applying this strategy to other basins where assets are either non-strategic to a seller or owned by unnatural holders.”

Mach is an independent oil and natural gas producer focused on acquiring, exploring and developing high-return, low-cost projects. Founded in January 2017, the company pursues assets with production history and development opportunity. Mach is headquartered in Oklahoma City, OK with 80 corporate team members and 220 field team members across seven field offices.

For more information about Mach, please visit www.machresources.com, call (405) 252-8100 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information about BCE, please visit www.bayoucityenergy.com, call (713) 400-8200 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Lisa Lloyd, (405) 973-6960
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Adaptive3D Acquisition Enables High-Volume, Additive Manufacturing for One of the Fastest Growing Segments in the Industry: End-Use Elastomeric Parts

• Acquired category leader with best-in-class properties in printed elastomers for additive manufacturing
• Provides entry into large and high growth elastomers market, one of the killer applications for additive manufacturing
• Complements Desktop Metal’s Xtreme 8K mass production printers, which offer the largest, high-speed DLP platform to accelerate the adoption of AM 2.0 for high-volume, cost-effective elastomeric parts
• Advances Desktop Metal’s vertical integration strategy to expand its portfolio of materials capabilities

BOSTON--(BUSINESS WIRE)--#3Dprint--Desktop Metal, Inc. (NYSE: DM) today announced it has acquired Adaptive3D, a leading provider of elastomeric solutions for additive manufacturing.

Adaptive3D offers category-leading photopolymer elastomers. Its products enable volume end-use parts production via additive manufacturing of odorless, tough, strain-tolerant, tear-resistant, and biocompatible rubbers and rubber-like materials. The Company’s flagship resin is Elastic ToughRubber 90™, a tough, printable elastomer for all seasons. Adaptive3D printable materials are optimized for high-throughput manufacturing of functional, complex 3D plastic and rubber parts in consumer, healthcare, industrial, transportation, and oil and gas markets. Adaptive3D’s core technology was developed through Defense Advanced Research Projects Agency (DARPA) funding, and the Company has received strategic capital from leading materials companies including Covestro, Arkema Group, West Pharmaceuticals, Applied Ventures, and Royal DSM.

“The acquisition of Adaptive3D advances Desktop Metal’s vertical integration strategy to grow our portfolio of materials and expand the high-volume applications supported by our polymer additive manufacturing solutions,” said Ric Fulop, Founder and CEO of Desktop Metal. “Elastomers and rubber materials are a killer app for Additive Manufacturing 2.0 (AM 2.0). Adaptive3D has the best photoelastomer resins in the world. Combining Adaptive3D’s patented and superior elastomer materials with our printers, such as the Xtreme 8K, which lead the industry in throughput, affordability, and part quality, will accelerate the adoption of additively manufactured solutions for high-volume, end-use elastomeric parts and products.”

“We are thrilled to partner with Desktop Metal to enable additive manufacturing through our differentiated materials,” said Dr. Walter Voit, Founder and CEO of Adaptive3D. “This acquisition extends our already strong partnership with EnvisionTEC, enabling us to accelerate our growth into the $129 billion¹ elastomer and flexible foams market just waiting for high-volume, additive manufacturing elastomer capabilities.”

Acquiring a Category Leader in Elastomers for Additive Manufacturing

Adaptive3D is a best-in-class provider of photoelastomers that enables additive manufacturing of rubbers, polyurethane-like, silicone-like, and rubber-like materials. The material properties of the ToughRubber photoresin material family lead the industry in tear strength, toughness, and elongation². Adaptive3D’s solutions are designed for high-throughput manufacturing, while maintaining low cost of production, and superior material performance. Adaptive3D serves a broad customer base across consumer, healthcare, industrial, transportation, and oil and gas markets, with a massive opportunity to expand through leveraging Desktop Metal’s scale and channel network.

Bolstering AM 2.0 Solutions for Area-Wide Elastomer Materials

The acquisition extends Adaptive3D’s existing partnership to pair ToughRubber photoresins with EnvisionTEC’s Xtreme 8K. The Xtreme 8K printer is optimized for area-wide photopolymer printing and is the largest build area production-grade digital light processing (DLP) 3D printer in the world. Coupled with Adaptive3D’s photoelastomer resins, customers can produce tough, durable parts quickly and in volume with premium surface quality, robust material properties, and high part accuracy.

Expanding Materials Library

“This transaction advances Desktop Metal’s strategy to grow our proprietary materials portfolio in order to expand the high-volume applications we can provide our customers,” said Fulop. “We will continue to search for attractive opportunities to organically and inorganically add to our library of over 225 qualified materials across metals, composites, polymers, ceramics, biocompatible materials, wood, and now elastomers.”

Adaptive3D will operate as a wholly owned subsidiary of Desktop Metal, and Voit will continue to lead the business from its Plano, Texas headquarters. Desktop Metal executives will discuss this strategic acquisition during its first quarter 2021 financial results call scheduled for May 17, 2021 at 4:30 p.m. Eastern Standard Time.

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.

For more information, visit www.desktopmetal.com.

About Adaptive3D

Adaptive3D, headquartered in Plano, Texas, is the leader in elastomeric solutions for additive manufacturing. The company has a mission to enable high-volume additive manufacturing through optimized materials. Adaptive3D offers leading additive manufacturing polymer resins and specialty polymers to a range of industries around the world in consumer, healthcare, industrial, transportation, and oil and gas sectors. The company leads in printing and processing rubber-like materials, tough damping materials, and low-cure stress photopolymers. The deeply technical company has developed a patent portfolio based on fundamental materials processing, some of which has been translated from the University of Texas at Dallas and is based on the team’s past funding from the Defense Advanced Research Projects Agency, the Defense Threat Reduction Agency, the National Science Foundation, and the McDermott family who are the co-founders of Texas Instruments.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statement generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to the risks and uncertainties set forth in Desktop Metal, Inc.'s filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

¹ Markets and Markets, 2020 and Mohite, Danekar, & Prasad, 2020
² Source: data derived from publicly available technical data sheets for commercially available comparable elastomer materials

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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an innovation-driven company in the fuel cell and hydrogen technology space, today announced that the 2021 annual meeting of stockholders (the “Annual Meeting”) originally scheduled to be held on Thursday, May 20, 2021, has been postponed. In response to the SEC’s “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the “Staff Statement”), which highlighted the complex nature of warrants of a kind similar to those issued by Advent, Advent has postponed the Annual Meeting to allow for the mailing of an update to our annual report to include the restatement of certain financial statements of AMCI Acquisition Corp. prior to the business combination. The Staff Statement informed market participants that warrants issued by SPACs may require classification as a liability, with non cash fair value adjustments recorded in earnings at each reporting period.

The Annual Meeting will now be held on June 8, 2021, at 9:00 a.m. Eastern Time. The record date for the determination of stockholders entitled to notice of, and to vote at, the Annual Meeting will remain April 12, 2021.

We are sensitive to the public health and travel concerns our stockholders may have and recommendations that public health officials may issue in light of the evolving COVID-19 situation. As a result, our Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents (issued and pending) for its fuel cell technology, Advent holds the IP for next-gen high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible ‘Any Fuel. Anywhere’ option for the automotive, maritime, aviation and power generation sectors.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including the Company’s plans and expectations with respect to the Annual Meeting. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 26, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
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LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) today announced that it has been awarded a significant⁽¹⁾ Engineering, Procurement, Construction and Installation (EPCI) contract from Ithaca Energy (UK) Limited for the Captain Enhanced Oil Recovery (EOR) Project in the UK North Sea.

TechnipFMC will design, manufacture, deliver and install subsea equipment including a rigid riser caisson, water injection flexible flowline, umbilicals and associated equipment.

Jonathan Landes, President Subsea at TechnipFMC, stated: “We are delighted to support Ithaca Energy on this important EOR expansion of the Captain field, utilizing our innovative design and installation technologies and solutions to unlock and maximize the recovery of hydrocarbons from the UK Continental Shelf. We look forward to helping Ithaca improve project economics, enhance performance and reduce emissions.”

The Captain field lies approximately 145 kilometers (90 miles) northeast of Aberdeen, Scotland, in the Outer Moray Firth area of the UK North Sea, in water depths of around 105.5 meters (346 feet).

(1) For TechnipFMC, a “significant” contract ranges between $75 million and $250 million.

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.

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BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions for commercial vehicles in North America, today announced first quarter 2021 financial results.

First Quarter 2021 and Recent Highlights

• Generated revenue for first quarter of 2021 of $0.7 million, compared to $1.2 million in the prior year
• Exited first quarter of 2021 with cash balance of $404 million as of March 31, 2021
• Achieved over 4,300 cumulative hybrid and plug-in hybrid systems sold through first quarter of 2021
• Appointed Cielo Hernandez, an accomplished financial executive with over 25 years of experience, as CFO of XL Fleet
• Announced acquisition of World Energy Efficiency Services, LLC (“World Energy”) to accelerate fleet electrification adoption and expand XL Grid charging infrastructure offering

Management Commentary

“As we anticipated, the first quarter was challenging, with OEM delays continuing to impact the entirety of the automotive supply chain,” said Dimitri Kazarinoff, Chief Executive Officer of XL Fleet. “While near-term uncertainty remains in place, we continue to position our company for accelerated growth, adding key leadership and scaling our organization to meet the increasing demand for vehicle electrification. We exited the first quarter with more than $400 million of cash on hand, allowing us to remain opportunistic in executing on our organic and inorganic growth strategy, including today’s announcement of our strategic World Energy acquisition.”

“As a market leader in fleet electrification, we continue to benefit as customers accelerate their electrification decisions while remaining focused on the reliability and zero downtime nature that our customers’ applications require,” said Tod Hynes, Founder & President of XL Fleet. “With over 4,300 systems and more than 154 million miles on the road today, we gain more knowledge about our customers’ application needs by the day, informing the continued and future development of our growing suite of fleet electrification solutions. We are particularly excited to announce the highly complementary acquisition of World Energy, which we believe will enable our customers to deploy more charging infrastructure at their facilities more rapidly and with a lower total cost of ownership. This acquisition will also accelerate the build out, expansion and capabilities of our XL Grid division.”

Outlook

“Demand for our electrified solutions continues to increase and customer engagement remains robust,” added Mr. Kazarinoff. “However, the previously discussed supply chain issues stemming from the ongoing impacts of COVID-19 and wide scale shortages of key materials remain in place across the broader automotive industry during the second quarter. This dynamic continues to significantly interrupt our customers’ ability to acquire the new vehicles on which our systems are installed.”

“While these factors continue to cause near-term uncertainty, we have seen modest improvement in demand visibility for the second half of the year,” continued Mr. Kazarinoff. “Many municipal customers have new budgets beginning in July, and we believe that the desire to improve the sustainability of fleet operations is gaining momentum across the industry and driving demand growth for our products and services. We expect our seasonality to be more pronounced this year, with a significant majority of our revenue anticipated to be realized in the second half of the year, as COVID-related demand impacts are expected to abate, and commercial customers push for vehicle deliveries ahead of 2022.”

“We believe that our all-electric solutions are currently on track to begin initial shipments beginning in 2022, and we continue to pursue opportunities for expansion into international markets,” concluded Mr. Kazarinoff.

First Quarter 2021 Financial Results

Revenue totaled $0.7 million in the first quarter of 2021 compared to $1.2 million in the first quarter of 2020. Gross loss was $0.7 million for the first quarter of 2021, compared to a gross loss of $0.05 million in the first quarter of 2020. Adjusted EBITDA was ($9.9) million for the first quarter of 2021, compared to ($3.5) million for the first quarter of 2020. Net income was $61.9 million for the first quarter of 2021, compared to net loss of $6.5 million in the first quarter of 2020. Net income for the first quarter of 2021 includes a non-cash gain from the change in fair value of warrant liability of $72.0 million. Adjusted net loss was $10.1 million for the first quarter of 2021, compared to adjusted net loss of $4.9 million in the first quarter of 2020.

Balance Sheet and Capital

Cash and cash equivalents as of March 31, 2021 totaled $404.1 million compared to $329.6 million as of December 31, 2020. Total debt outstanding as of March 31, 2021 was approximately $0.1 million. XL Fleet has approximately 139.1 million shares of Common Stock outstanding as of March 31, 2021.

Operating Summary

Since the beginning of 2020, the Company shipped a total of 1,506 systems, of which, 31 systems were shipped during the first quarter of 2021. Systems shipped since the beginning of 2020 include XL Fleet’s hybrid and plug-in hybrid systems. XL Fleet is currently developing all electric systems, and remains on track to begin shipments in the fourth quarter of 2021.

XL Fleet Acquires World Energy Efficiency Services

Today, XL Fleet announced the acquisition of World Energy Efficiency Services, a Northeast leader in the delivery of turnkey energy efficiency, renewable technology, electric vehicle charging station and other cutting edge energy solutions for small to mid-sized facilities. The acquisition accelerates XL Fleet’s suite of fleet electrification solutions, enables customers to charge more vehicles at their existing facilities which have power constraints, and expands the capabilities and capacity of the Company’s XL Grid division.

We believe that the bolt-on acquisition expands XL Fleet’s EV charging infrastructure capabilities, unlocks additional energy management and savings services for its customers, and enables additional sales opportunities for existing and potential XL Fleet customers.

World Energy generated $18 million of total revenue and was free cash flow positive for full-year 2020. Total consideration for the acquisition is approximately $16 million. The transaction was approved by both companies' Boards of Directors and was completed effective May 17, 2021.

First Quarter 2021 and Recent Operational & Business Updates

• In April 2021, XL Fleet appointed Cielo M. Hernandez as Chief Financial Officer of XL Fleet. Ms. Hernandez is a finance professional with more than 25 years of experience, with an extensive track record of leading global teams and strategies for publicly traded and private companies. Prior to joining XL Fleet, she served as Senior Vice President and Chief Financial Officer of South Jersey Industries, Inc., a publicly traded energy utility company.

• In April 2021, XL Fleet and Dickinson Fleet Services (“Dickinson”) announced a partnership to expand XL Fleet’s nationwide service capacity to support the Company’s growth of electrified vehicle deployments over the past year, and its anticipated acceleration in 2021 and beyond.

• In April 2021, XL Fleet and Apex Clean Energy announced that XL Fleet is electrifying Apex’s vehicle fleet as part of a comprehensive effort to reduce its carbon emissions.

• In March 2021, XL Fleet opened its newest commercial fleet electrification technology center, an approximately 25,000 square-foot engineering facility located in the Metro Detroit region. The state-of-the-art facility is strategically located with access to world-class automotive and engineering talent, and will be utilized for the design, development, testing and production of electrification solutions.

• In March 2021, XL Fleet completed the redemption of its Public Warrants, resulting in an additional approximately $86 million of cash proceeds and further streamlining the Company’s capital structure.

• In February 2021, XL Fleet reached a strategic partnership with UBS Arena and the New York Islanders, with the opportunity to explore the deployment and operation of 1,000 EV charging stations at UBS Arena. XL Fleet intends to support this project through the development, deployment and management of a robust suite of electrification infrastructure, including solar power generation, energy storage and vehicle charging stations.

• In February 2021, XL Fleet announced a partnership with Curbtender to develop all-electric, plug-in hybrid and hybrid electric refuse trucks beginning in 2021. The agreement also includes the joint development of plug-in hybrid electric versions of the vehicle, as well as a range of Class 3 to Class 8 vehicle solutions for the waste management industry.

Conference Call Information

The XL Fleet management team will host a conference call to discuss its first quarter 2021 financial results and the World Energy acquisition on Monday, May 17, 2021 at 5:00 p.m. Eastern Time. The call can be accessed live over the telephone by dialing 855-327-6837, or for international callers, 631-891-4304 and referencing XL Fleet. Alternatively, the call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of The Company’s website at www.xlfleet.com. A replay will be available shortly after the call and can be accessed by dialing 844-512-2921, or for international callers, 412-317-6671. The passcode for the replay is 10014684. The replay will be available until May 31, 2021. An archive of the webcast will be available for a period of time shortly after the call on the Investor Relations section of the Company’s website at www.xlfleet.com.

Restatement of 2020 Financials

In response to guidance provided by the SEC on April 12, 2021 regarding the accounting and reporting of warrants issued by SPACs, XL Fleet has restated its consolidated financial statements to change the accounting treatment of its warrants. The restatement is isolated to XL Fleet's historical accounting for its public warrants and private placement warrants issued in connection with its business combination and has no impact on the historical or forward-looking cash flow and operations of the Company. These warrants had been accounted for as equity. XL Fleet restated its fourth quarter and full-year 2020 financial statements to account for the warrants as liabilities which the Company believes to be consistent with the April, 2021 SEC guidance. The warrants will be marked-to-market with non-cash fair value adjustments. During the first quarter of 2021, the public warrants were exercised by their holders, and as such, no public warrants remain outstanding at March 31, 2021. The impacts of these restatements was entirely non-cash and is expected to have no impact on XL Fleet’s ongoing business operations or future plans.

About XL Fleet

XL Fleet is a leading provider of fleet electrification solutions for commercial vehicles in North America, with more than 150 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine's best inventions of 2019. For additional information, please visit www.xlfleet.com.

About World Energy Efficiency Services

World Energy Efficiency Services is an industry leader in the delivery of turnkey energy efficiency, renewable technology, electric vehicle charging station and other cutting-edge energy solutions. Our organization is focused on improving the overall energy efficiency of our clients, translating directly into significant bottom-line savings. By making energy-efficiency upgrades and adding sophisticated controls to lighting, heating, ventilation, air conditioning, refrigeration, and process equipment, clients can expect a material reduction in energy use, a 30-60% decrease in monthly utility costs, and a smaller carbon footprint. By combining comprehensive energy-efficiency solutions with utility incentive programs, project management and financing, World Energy Efficiency Services removes the barriers which can deter its customers from becoming more energy efficient, adopting solar solutions, and/or implementing electric vehicle charging stations.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 31, 2021, as amended and supplemented by the 10-K/A filed May 17, 2021, and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.

Use of Non-GAAP Financial Information

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), XL Fleet Corp. reports EBITDA, Adjusted EBITDA, and Adjusted Net Income (Loss) which are non-GAAP financial measures. EBITDA is determined by taking net income and adding interest, depreciation and amortization. Adjusted EBITDA is determined by taking EBITDA and adding loss on extinguishment of debt, change in fair value of warrant liability and loss on extinguishment of convertible notes derivative liabilities. Adjusted Net Income (Loss) is determined by taking Net Income (Loss) and adding Loss on extinguishment of debt, change in fair value of warrant liability, and change in fair value of convertible notes payable derivative liabilities. This prospective financial information was not prepared with a view toward compliance with published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of prospective financial information or U.S. GAAP with respect to forward looking financial information. We believe that these non-GAAP measures, viewed in addition to and not in lieu of our reported GAAP results, provides useful information to investors by providing a more focused measure of operating results, enhances the overall understanding of past financial performance and future prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. EBITDA, Adjusted EBITDA and Adjusted Net Income (Loss) has been reconciled to the nearest GAAP measure in the tables within these this press release.

(1) Held by variable interest entity.

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• Revenues Up 44% in fiscal second quarter 2021 versus prior year period
• $365 million gross proceeds from completion of business combination, well in excess of $125 million minimum cash requirement, will support expanded acquisition strategy and route expansion
• Recent announcements with aerospace companies Beta Technologies and Wisk Aero represent important milestones towards Blade’s transition to Electric Vertical Aircraft (“EVA”)
• Pent-up demand for leisure travel is expected to drive growth of Blade Airport, re-launching on June 1^st, and seasonal travel this summer

NEW YORK--(BUSINESS WIRE)--Blade Air Mobility, Inc. (NASDAQ:BLDE, “Blade” or the “Company”), a technology-powered air mobility platform, today announced financial results for Blade Urban Air Mobility, Inc., its wholly-owned subsidiary, for the fiscal second quarter ended March 31, 2021. On May 7, 2021, we completed our business combination with Experience Investment Corp. ("EIC"). The historical financial information in this press release relates to Blade Urban Air Mobility, Inc.'s operations prior to the business combination. Going forward, our financial results will be presented on a combined company basis.

“The $365 million of capital raised from our transaction with Experience Investment Corp. will accelerate our acquisition strategy and route expansion plans. In the near-term, Blade is well-positioned to benefit from significant pent-up demand for travel as Americans begin to rediscover travel,” said Rob Wiesenthal, Blade’s Chief Executive Officer.

Melissa Tomkiel, President and General Counsel of Blade added, “Our recently announced partnership with Kayak will dramatically expand the customer acquisition funnel for Blade Airport, which is re-launching service on June 1^st, while our agreements with Beta Technologies and Wisk Aero will help us transition from conventional aircraft to EVA. Those agreements will allow third parties to own, operate and maintain Beta and Wisk EVAs on behalf of Blade.“

“We are pleased with Blade’s 44% year-over-year revenue growth in the quarter, particularly given the comparison to a period that was largely unaffected by COVID-19. Strong performance in our MediMobility organ transport, jet and Northeast commuter short-distance businesses more than offset the decline in Blade Airport due to the pandemic,” said Will Heyburn, Blade’s Chief Financial Officer.

Business Highlights and Recent Updates:

• Blade announced the June 1^st re-start of its New York City airport (starting with JFK) transfer product for $195/Seat (or $95/Seat with the purchase of an annual pass)

• Partnership with Kayak expands our customer acquisition pipeline. Kayak users booking flights to or from New York City airports will be prompted to add Blade Airport connections. Kayak will also purchase Blade airport seats from Blade to support its loyalty program

• Northeast commuter services began daily operations in April and May for the first time ever, driven by hybrid remote/office work patterns resulting in broader distribution of demand versus typical end-of-week surges

• Recent announcements with Beta Technologies and Wisk Aero represent important milestones towards Blade’s transition to EVA, re-affirming our manufacturer-agnostic, asset-light model

• Business combination with Experience Investment Corp. closed on May 7, 2021, provides $365 million gross proceeds to support acquisition strategy and route expansion

Second Fiscal Quarter Ended March 31, 2021 Financial Highlights:

• Revenues up 44% to $9.3 million in second fiscal quarter 2021 ending March 31, 2021 versus $6.5 million in the prior year period

• MediMobility organ transport and jet revenues grew 68% year-over-year, as Blade added new hospital and jet customers versus the prior year period

• Short-distance revenues declined 41% year-over-year, primarily reflecting the negative impact of airport short-distance services, which were paused in the second fiscal quarter 2021 due to the COVID-19 pandemic, partially offset by modest growth in our Northeast commuter business

• Net loss increased to $(4.2) million from $(3.4) million in the prior year period, driven by higher G&A costs (primarily due to higher stock based compensation expense), partially offset by increased revenues and lower cost of sales as a percentage of revenues.

• Adjusted EBITDA of $(2.2) million improved versus $(3.1) million in the prior year period, driven by increased revenues and lower cost of sales as a percentage of revenues

Use of Non-GAAP Financial Information

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), Blade reports Adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA is determined by taking net income and excluding interest, depreciation and amortization and stock-based compensation. Blade believes that this non-GAAP measure, viewed in addition to and not in lieu of our reported GAAP results, provides useful information to investors by providing a more focused measure of operating results, enhances the overall understanding of past financial performance and future prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies. Adjusted EBITDA has been reconciled to the nearest GAAP measure in the tables within this press release.

About Blade Urban Air Mobility

Blade is a technology-powered, global air mobility platform committed to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in the U.S. and abroad.

For more information, visit www.blade.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions and the negatives of those terms. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Blade’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning Blade’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blade’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the registration statement on Form S-4 filed with the U.S. Securities and Exchange Commission (“SEC”) by Experience Investment Corp. (“EIC”) in connection with the business combination transaction. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Blade undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Press Contacts

For Media Relations
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Investor Relations
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HOUSTON--(BUSINESS WIRE)--PrimeEnergy Corporation (NASDAQ: PNRG) announced today the following unaudited results for the quarters ended March 31, 2021 and 2020:

Total assets at March 31, 2021 were $199,338,000 compared to $200,484,000 at December 31, 2020.

Oil and natural gas production and the average prices received (excluding gains and losses from derivatives) for the three months ended March 31, 2021 and 2020 were as follows:

PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas and Oklahoma. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.

Forward-Looking Statements

This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.

Connie Ng
(713) 735-0000

HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL) (the “Trust”) today announced the net profits interest calculation for May 2021. The net profits interest calculation represents reported oil production for the month of February 2021 and reported natural gas production during January 2021. The calculation includes accrued costs incurred in March 2021.

This month, excluding prior net profits interest shortfalls, income from the distributable net profits interest would have been approximately $0.1 million. As a result of the cumulative outstanding net profits shortfall of approximately $0.6 million, however, no distribution will be paid to the Trust’s unitholders of record on May 31, 2021 in June 2021. Distributions to the Trust will resume once the cumulative net profits shortfall, which continues to decrease and now totals approximately $0.5 million, is eliminated.

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.

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $1.8 million for the current month on realized wellhead prices of $56.98/Bbl, down $0.6 million from the prior month distribution period. The decrease in sales volumes was primarily due to winter storm Uri in February 2021, which caused a number of the operators of the Underlying Properties to temporarily shut-in wells.

Recorded natural gas cash receipts from the Underlying Properties remained consistent with the prior month at $0.7 million.

Total accrued operating expenses for the period were $2.1 million, a $0.3 million decrease month-over-month from the prior period. Capital expenditures increased $0.1 from the prior period.

The remaining cumulative shortfall in net profits for the prior months will be deducted from any net profits in next month’s net profits interest calculation. At this time based on current commodity prices, COERT Holdings 1 LLC (the “Sponsor”) anticipates that the Underlying Properties will continue to generate positive net profits to reduce the cumulative shortfall before returning to monthly distributions again.

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, expected expenses, including capital expenditures, and expectations regarding the ability of the Underlying Properties to continue to generate positive net profits before returning to monthly distributions. 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 in response to the economic effects of the COVID-19 pandemic and the actions taken by Russia and the members of the Organization of Petroleum Exporting Countries regarding production levels. 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

ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that Gary Chapman, Chief Executive Officer, is scheduled to present at the 2021 Energy Infrastructure Council (“EIC”) Investor Conference on May 19^th at 11:45 AM (Eastern Time).

The presentation will be viewable via webcast and can be accessed through the Investor Relations / Events section of the Partnership’s website, www.knotoffshorepartners.com. If attending, please allow extra time prior to the call to visit the site and download any necessary software that may be needed to access the internet broadcast. A replay of the webcast will be available through the Partnership’s website for 30 days.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP.”

KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 1224 618 420

Building On Phase 1 Completed in 2020, Second Phase Will Tag Up To 60 Red Knots During Migration Stopover in Delaware Bay

ATLANTIC CITY, N.J.--(BUSINESS WIRE)--Today, Atlantic Shores Offshore Wind (Atlantic Shores) announced a second phase of last year’s successful red knot migration study in collaboration with Wildlife Restoration Partnerships (WRP) and the U.S. Fish and Wildlife Service. This expanded second phase includes a doubling of the red knots tagged, now 60 birds, and a new partner, the New Jersey Audubon, one of the oldest, largest and most respected environmental organizations in the state.

Red knots, a state endangered and federally threatened shorebird, migrate each year from as far south as Tierra del Fuego, Argentina to the Canadian Arctic and then back again. On their trip north, they stop in the Delaware Bay to feast on horseshoe crab eggs before going to the Canadian Arctic to breed, just as they stop in New Jersey on their way south for the winter.

In the second phase of the project, WRP will attach satellite tags to red knots migrating south as they stop in New Jersey’s Brigantine Natural Area, Atlantic County, and Stone Harbor Point, Cape May County, and on birds in Lagoa do Peixe, Brazil as they migrate north. The tags will allow a satellite to collect up to 60 points of information on each bird’s precise location, flight path, and varying altitude. Collected data will be correlated with meteorological conditions (i.e., wind speed, wind direction, visibility, and precipitation). Data will be collected near real-time and more comprehensively analyzed by researchers and Atlantic Shores.

Atlantic Shores will use the data to address risks to these birds and the surrounding environment as they develop an offshore wind project within its Lease Area, located 10-20 miles off the New Jersey coast. Atlantic Shores has committed to share their findings publicly so as to inform other researchers and offshore work.

“Atlantic Shores is thrilled to be continuing this essential migration study, now with the invaluable partnership of the New Jersey Audubon,” said Jennifer Daniels, Atlantic Shores Development Director. “The second phase of the red knot study enables us to responsibly develop our Lease Area while helping to deliver cutting-edge data to scientists in a range of fields.”

“Results from this study will inform collaborative conservation for this amazing long-distance traveler, whose migratory routes from Arctic Canada to southern Argentina span up to 18,000 miles annually,” said Wendi Weber, North Atlantic-Appalachian Regional Director for the U.S. Fish and Wildlife Service. “This effort exemplifies how much we can accomplish for wildlife and people when industry and conservation organizations join forces.”

Eric Stiles, President and CEO of New Jersey Audubon added, “New Jersey Audubon is pleased to be part of such an important study which highlights the need for science-based shorebird conservation and protection to inform responsibly-sited offshore wind facilities. We look forward to our continued collaboration with leading conservation organizations as we move to phase two.”

“The first study gave us an unprecedented and intimate understanding of the complex migratory pathway of the red knot that will help conserve all the places the bird depends upon during its lifecycle,” said Larry Niles of Wildlife Restoration Partnerships. “The second phase of the red knot study will give us decisive information on the possible effects of offshore wind development to the red knots off the coast of New Jersey. Atlantic Shores’ commitment to this study underscores their commitment to environmental responsibility and wildlife conservation.”

About Atlantic Shores Offshore Wind, LLC:

Atlantic Shores Offshore Wind, LLC is a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America. The joint venture formed in December 2018 to co-develop a 183,353-acre Lease Area located approximately 10-20 miles off the New Jersey coast between Atlantic City and Barnegat Light. Atlantic Shores is strategically positioned to meet the growing demands of renewable energy targets in New York, New Jersey and beyond, with strong and steady wind resources close to large population centers with associated electricity demand. Our Lease Area, once fully developed, has the potential to generate over 3,000 MW (3 GW) in wind energy and power nearly 1.5 million homes, roughly 40 percent of all homes in New Jersey. The capital and expertise needed to develop such a large area is significant. Together, Shell and EDF Renewables have the investment capability and industry experience to bring this project to scale safely, efficiently and cost effectively. For more info: www.atlanticshoreswind.com

Julia Ofman, This email address is being protected from spambots. You need JavaScript enabled to view it., 646 246 8211

DALLAS--(BUSINESS WIRE)--New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the first quarter ended March 31, 2021.

During the three months ended March 31, 2021, the Company reported a net income applicable to common shares for the three months ended March 31, 2021 of ($79,000), compared to net loss from continuing operations of ($34,000) for the three months ended March 31, 2020.

The Company reported net income from continuing operations of $79,000 for three months ended March 31, 2021, as compared to a net loss of ($34, 000) for the similar period in 2020.

For the three months ended March 31, 2021, corporate general & administrative expenses were $74,000 as compared to $104,000 for the comparable periods in 2020. The decrease was due, for the most part, to consulting fees paid by the Company regarding oil and gas matters in 2020 that were not incurred in 2021.

For the three months ended March 31, 2021 the Company recorded a tax refund from prior years of $91.000.

For the three months ended March 31, 2020 the Company recorded a loss from discontinued operations of $63,000 for the oil and gas operations that were sold in August 2020.

About New Concept Energy, Inc.

New Concept Energy, Inc. is a Dallas-based company which owns real estate West Virginia. For more information, visit the Company’s website at www.newconceptenergy.com.

New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
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HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE:USDP) (the “Partnership”) announced today that members of its senior management team will participate at the Energy Infrastructure Council 2021 Investor Conference in Las Vegas, Nevada, on May 18 and May 19, 2021.

The related presentation materials will be made available on the Partnership’s website no later than 10:00pm Eastern Time on Monday, May 17, 2021, at www.usdpartners.com on the “Events & Presentations” sub-tab under the “Investors” tab.

About USD Partners LP

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

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

Adam Altsuler, 281-291-3995
Senior Vice President, Chief Financial Officer
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Jennifer Waller, 832-991-8383
Director, Financial Reporting & Investor Relations
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BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina reports on the ongoing situation in Colombia.

Following a new tax reform proposal, a national strike started on April 28, 2021 with protests and demonstrations in major cities of Colombia. Despite the proposal being dismissed in early May, demonstrations continued and intensified and included road blockades across the country, affecting logistics and supply chains in general.

These events impact crude oil transportation, drilling, and the mobilization of equipment and personnel, causing GeoPark and its joint-venture partners to significantly reduce activity in the fields and to start executing controlled production shut-ins in the Llanos 34 (GeoPark operated, 45% WI), CPO-5 (GeoPark non-operated, 30% WI), and Platanillo (GeoPark operated, 100% WI) blocks, which have been gradually implemented since May 8, 2021.

GeoPark’s priority is to ensure the health and safety of its employees, neighbors and contractors. The Company is taking all necessary steps to mitigate the impact of these events and is participating in ongoing conversations with the Colombian government, its joint-venture partners and suppliers, and expects the matter to be resolved in order to restart operations and production.

As of the date of this release, GeoPark’s net production curtailments total 12,000-15,000 boepd, representing 40-45% of the Company’s production in Colombia and with its remaining production in the country flowing normally. The Company’s operations and production in Chile, Brazil and Argentina have not been affected by these events.

Drilling, maintenance and other field activities in Colombia have been temporarily suspended until the situation is resolved.

The GeoPark team will continue to make any and all adjustments necessary to protect its employees, neighbors and contractors, as well as to minimize the impact on production, and once there is more information on the length and overall evolution of these events, GeoPark expects to provide revised oil and gas production guidance and an updated work program.

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.

This press release contains certain oil and gas metrics, including information per share, operating netback, reserve life index and others, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the national strike in Colombia, expected or future production, production growth and operating and financial performance, future opportunities 2021, our 2021 oil and gas production guidance and work program and our capital expenditure plan. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

INVESTORS:

Stacy Steimel
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Shareholder Value Director
T: +562 2242 9600

Miguel Bello
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Market Access Director
T: +562 2242 9600

Diego Gully
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Investor Relations Director
T: +5411 4312 9400

MEDIA:

Communications Department
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