HOUSTON--(BUSINESS WIRE)--Consolidated Asset Management Services (CAMS), a fully-integrated service provider for owners of energy infrastructure assets, announced it has expanded its offerings by introducing new Strategic Control Services (SCS). Through its next generation remote operations center located in downtown Houston, CAMS SCS monitors and controls power generation assets in real time leading to increased reliability, reduced risk and optimal profitability.
The state-of-the-art services combine CAMS industry-leading O&M best practices with a fully compliant NERC facility. CAMS SCS provides 24/7 coverage of power generation assets and includes multiple redundancies to ensure reliable operations. It was designed with cybersecurity and compliance operability in mind to reduce risks.
"We are excited to continue our legacy of creating value for our customers by strategically enhancing our suite of services," said CEO and Founder Joseph W. Sutton. "Incorporating CAMS SCS further strengthens our existing capabilities in the power generation industry and provides more depth for our clients from which we can flexibly offer additional cost savings, improved operations and more efficient staffing.”
CAMS SCS includes access to CAMS eTRAC, a proprietary digital tool to enhance flexibility, visibility, and analytics for optimal dispatch. It provides real-time data regarding market exposure and the effectiveness of current optimization strategies.
About CAMS
CAMS is a privately held company providing Operations and Maintenance (O&M), Asset Management, Environmental, Social, and Governance (ESG), and Optimization services for energy and infrastructure assets. We add value through superior management and operation of our clients’ assets located throughout the U.S. and internationally. To this end, we empower our employees to pursue creative and sustainable business practices in the field and at our corporate office that contribute to operational excellence, financial performance, a safe workplace, and a better community and environment. For more information, visit www.camstex.com.
Corporate Communications
Hailey Bui
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LAS VEGAS--(BUSINESS WIRE)--SMK Electronics Corporation, U.S.A. today announced that it will showcase several new additions to its Energy Harvesting Technology at CES 2023. New solutions from SMK’s SCPS Bluetooth® Ambient Sensor, a CES 2022 Innovation Awards Honoree in 2021, include wireless power transmission and the utilization of solar or ambient light to provide energy for the powering of devices.
Additionally, SMK will be showcasing its advanced Gen 2 SCPS Bluetooth® Ambient Sensor and Gen 2 Rectenna Sheet in its passive Energy Harvesting presentation at CES 2023 (Booth #52360 Venetian Expo, January 5th-8th, 2023, Las Vegas).
“With recent advancements in extreme low power micro-controllers, the time is right for utilization of SMK's Energy Harvesting Technology,” said Paul Evans, President of SMK Electronics Corporation, U.S.A. “Creating a new class of IoT and remote control devices, products utilizing SMK’s Energy Harvesting may either feature significantly extended battery life, or bypass the use of batteries all together."
“In presenting our new Energy Technology, SMK will be demonstrating the harvesting of microwave type energy to power IoT devices,” added Mr. Evans, “displaying the amount of energy gathered, together with that received by the device. Additionally, we’ll be demonstrating a new ambient light harvesting remote control – an input device designed to mitigate or eliminate the use of batteries.”
SMK’s Gen 2 SCPS Bluetooth® Ambient Sensor
The next generation of SMK’s award-winning SCPS Sensor, the Gen 2 SCPS Sensor, collects ambient information such as temperature, humidity, luminance, CO2, air pressure, accelerometer, and ambient sound. The Gen 2 SCPS Sensor (a completely battery free device) can transmit that information via Bluetooth to an e-paper display with its own self-contained power source.
About SMK Electronics
SMK Electronics Corporation, U.S.A., the U.S. division of SMK Corporation, is a world leader in the manufacture of OEM remote controls, IoT devices, electronic components, sensors, automotive-grade cameras and a variety of advanced high-speed connectors. Serving consumer electronics, auto manufacturing and building automation markets in the U.S., SMK Electronics is positioned, through local R&D and manufacturing facilities, to provide the most technologically advanced, robust, and cost-effective products available. Learn more at http://www.smkusa.com.
Bluetooth is a trademark of Bluetooth Sig, Inc.
Media Contact
Keith M. Roberts
SMK Electronics Corporation, U.S.A.
Tel: +1 (805) 312-5546
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DOHA, Qatar--(BUSINESS WIRE)--QatarEnergy and Chevron Phillips Chemical Company LLC announced today they will proceed on construction of a $6 billion integrated polymers complex in Ras Laffan Industrial City, Qatar.
An agreement marking the positive final investment decision for the project was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and by Bruce Chinn, President and CEO of Chevron Phillips Chemical, at a ceremony in Doha. The companies created a joint venture, Ras Laffan Petrochemicals, in which QatarEnergy owns a 70% equity share and Chevron Phillips Chemical owns 30%.
The 435-acre project site will include an ethane cracker with a capacity of 2080 KTA of ethylene, making it the largest ethane cracker in the Middle East and one of the largest in the world. It will also include two high-density polyethylene derivative units with a total capacity of 1680 KTA.
Chevron Phillips Chemical will provide project management services. Construction began with early works at the site in June 2022, and startup is expected in late 2026. The engineering, procurement and construction of the ethane cracker will be executed by a joint venture between Samsung Engineering CO., Ltd. and CTCI Corporation. Tecnimont S.p.A. will execute engineering, procurement and construction for the polyethylene units.
The polyethylene units will use Chevron Phillips Chemical’s MarTech™ loop slurry process to produce high-density polyethylene, which will primarily be exported from the state of Qatar. Polyethylene is used in the production of durable goods like pipe for natural gas and water delivery and recreational products such as kayaks and coolers. It is also used in packaging applications to protect and preserve food and keep medical supplies sterile.
The facility will be constructed with modern, energy-saving technology and use ethane for feedstock, which along with other measures, is expected to result in lower greenhouse gas emissions than similar global facilities.
“At Chevron Phillips Chemical, we continue to grow our global asset base where there is access to reliable, affordable feedstock. This investment will help meet global demand for polyethylene products,” Chinn said. “We are excited to expand on the long and successful history we have with QatarEnergy to safely construct and operate world-scale facilities.”
Attending the signing ceremony were senior executives from QatarEnergy, Chevron Phillips Chemical and its owner companies, Chevron U.S.A. Inc. and Phillips 66.
Chevron Phillips Chemical and QatarEnergy operate joint ventures in Qatar and recently announced construction of a similar integrated polymers facility in Orange, Texas.
About Chevron Phillips Chemical
Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, Chevron Phillips Chemical and its affiliates own nearly $18 billion in assets, including 31 manufacturing and research facilities in six countries. Chevron Phillips Chemical is equally owned indirectly by Chevron Corporation U.S.A. Inc. and Phillips 66 Company and is headquartered in The Woodlands, Texas. For more information about Chevron Phillips Chemical, visit www.cpchem.com. Also, follow us on Twitter: @chevronphillips.
“Chevron Phillips Chemical” or “CPChem” may refer to one or more Chevron Phillips Chemical subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.
News inquiries:
Lisa Trow
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346-452-6531
Hallie Frazee
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512-585-6638
TULSA, Okla.--(BUSINESS WIRE)--Unit Corporation (OTC Pink: UNTC) (Company) announced today that its Board of Directors has declared a special cash dividend of $10.00 per share and has approved a quarterly cash dividend policy beginning in the Company’s second quarter. The special dividend will be paid on January 31, 2023, to shareholders of record as of the close of business on January 20, 2023. The initial quarterly dividend will be $2.50 per share to be paid on a date in the Company’s second quarter that is yet to be determined. Subsequent quarterly dividends will be issued on a variable rate per share basis as determined by the Company. The special and quarterly cash dividends will be funded by cash on the Company’s balance sheet.
Philip B. Smith, the Company’s Chairman and Chief Executive Officer, commented, “We are pleased that our operating performance and capital position allowed us to return value to our shareholders through these dividends.”
The declaration and payment of any future dividend, whether fixed, special, or variable, will remain at the full discretion of the Company’s Board of Directors and will depend upon the Company’s financial position, results of operations, cash flows, capital requirements, business conditions, future expectations, the requirements of applicable law, and other factors that the Company’s Board of Directors finds relevant at the time of considering any potential dividend declaration.
About Unit Corporation
Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling and natural gas gathering and processing. For more information about Unit Corporation, visit its website at http://www.unitcorp.com.
Forward-Looking Statements
This press release has forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements, other than statements of historical facts, included in this release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur are forward-looking statements. Several risks and uncertainties could cause actual results to differ materially from these statements, including changes in oil and natural gas prices, changes in the Company’s reserves estimates or its value thereof, the level of activity in the oil and natural gas industry and other risk factors described in the Company's publicly available SEC reports. The Company assumes no obligation to update publicly such forward-looking statements, whether because of new information, future events, or otherwise.
Rene Punch
Investor Relations
(918) 493-7700
www.unitcorp.com
HOUSTON--(BUSINESS WIRE)--BP Prudhoe Bay Royalty Trust (NYSE: BPT) announced that unitholders will receive a dividend for the quarter ended December 31, 2022. The dividend information is as follows:
Ex-Dividend Date: |
January 13, 2023 |
Record Date: |
January 17, 2023 |
Payable Date: |
January 23, 2023 |
Dividend Rate: |
$0.2974297 per Unit |
As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes.
For the three months ended December 31, 2022, the Per Barrel Royalty was calculated based on the following information:
Average WTI Price |
$ 82.53 |
||||
Average Adjusted Chargeable Costs |
$ 73.36 |
||||
Average Production Taxes |
$ 2.93 |
||||
Average Per Barrel Royalty |
$ 6.25 |
||||
Average Net Production (mb/d) |
70.2 |
The average daily closing WTI price was above the “break-even” price for the quarter, resulting in a quarterly payment with respect to the Royalty Interest of $6,639,508 to the Trust, after an increase of $26,209 representing an underpayment to the Trust for the quarter ended September 30, 2022. In accordance with the Trust Agreement, the Trustee will pay all accrued expenses of the Trust, then distribute the excess, if any, of the cash received by the Trust over the Trust’s expenses to unitholders. After paying the Trust’s expenses accrued through December 31, 2022, $6,364,996 is available for distribution to unitholders.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, the Trust’s subsequent Quarterly Reports on Form 10-Q, and the Trust’s other filings with the Securities and Exchange Commission. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov. Neither the Trust nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release.
Elaina Rodgers
Vice President
The Bank of New York Mellon Trust Company, N.A.
713-483-6020
ChargePoint Express Plus platform delivers the speed that drivers expect and the flexibility that businesses want in a high-powered charging solution
LAS VEGAS & CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging provider, Mercedes-Benz and MN8 Energy, one of the largest U.S. solar, stationary power and renewable energy providers, today announced plans to rapidly expand the availability of DC fast charging with the development of over 400 charging hubs across the U.S. and Canada. Powered by the ChargePoint network, the Mercedes-Benz charging hubs will be in key cities and urban population centers, along major highway corridors and close to convenient retail and service destinations.
Starting this year, ChargePoint, Mercedes-Benz, and MN8 will develop more than 400 charging hubs across North America with more than 2,500 ChargePoint DC fast charging ports that will enable a premium, sustainable and reliable charging experience for EV drivers. MN8 and Mercedes-Benz will jointly finance and operate the charging hubs, powered by ChargePoint’s industry leading charging hardware and software solutions.
“Automotive leaders like Mercedes-Benz continue to lead the transition to electric mobility by bringing new EVs to market, and ChargePoint remains committed to enabling the simplicity that drivers expect and the charging speed they need for all vehicles whenever and wherever drivers want,” said Pasquale Romano, CEO, ChargePoint. “With this partnership, we are expanding upon our existing relationships with Mercedes-Benz and MN8 to deliver a seamless charging experience for drivers, and turnkey charging solutions at no upfront cost to site hosts. We believe the expansion of charging hubs like these will enable the emergence of a new 30 minute retail economy, at the intersection of innovation and accessibility that combines charging and commerce, giving drivers a superior experience to charge quickly and easily.”
Available to all EV drivers, the Mercedes-Benz charging hubs will offer Mercedes-Benz drivers additional benefits including preferential access via reservation, as well as the convenience of automatic authentication functionality like “Plug & Charge” [1], enabling seamless and secure communications between the vehicle and the charging infrastructure. While authentication via card, app or head unit will be possible, it’s not required for Mercedes-Benz customers using the Mercedes me Charge[2] service.
“Mercedes-Benz customers deserve a compelling charging experience that makes electric vehicle ownership and long-distance travel effortless and that’s why we are launching a global high-end charging network that will offer a charging experience to match the extraordinary Mercedes driving experience. We are excited to start right here in North America with two strong and experienced partners, ChargePoint and MN8 Energy,“ said Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG.
The Mercedes-Benz hubs will primarily be powered by ChargePoint Express Plus, one of the most advanced high power DC fast charge platforms built for businesses looking to scale their EV charging operations for the long term. Express Plus is the ideal platform for fueling and convenience, retail and highway corridor charging locations. The system can deliver up to 500kW per port, depending on the configuration, and is designed to easily scale to meet future demand as EV adoption and vehicle capability grows. With its modular design and liquid-cooled cables, Express Plus can efficiently charge today’s and tomorrow’s electric vehicles.
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks in North America and Europe and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 133 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding the expected benefits to EV drivers of the partnership among ChargePoint, Mercedez-Benz and MN8 Energy and the timing and scope of the implementation of the proposed charging hubs. Any statements that are not of historical fact may be forward-looking statements. Words used such as “anticipates,” “believes,” “continues,” “designed,” “estimates,” “expects,” “goal,” “intends,” “likely,” “may,” “ongoing,” “plans,” “projects,” “pursuing,” “seeks,” “should,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. All forward-looking statements are based on ChargePoint’s current assumptions, expectations and beliefs, and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these risks and uncertainties are included in the filings by ChargePoint Holdings, Inc., with the U.S. Securities and Exchange Commission. ChargePoint makes these statements as of the date of this press release, and ChargePoint undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
ChargePoint and the ChargePoint logo are registered trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. “Mercedes me” and “Mercedes me Charge” are trademarks of Mercedes-Benz Group AG or its affiliates.
CHPT-IR
[1] Plug & Charge is available with EQS, EQS SUV, EQE, EQE SUV, current plug-in hybrids C- and S-Class and GLC with optional direct-current charging system (DC charging). The customer needs to activate the Plug & Charge service in the overview of services
[2] In order to use the Mercedes me connect service Mercedes me Charge, a personal Mercedes me ID and agreement to the Mercedes me connect Terms of Use are required. Furthermore, a charging contract is required.
ChargePoint
AJ Gosselin
Director, Corporate Communications
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Patrick Hamer
VP, Capital Markets and Investor Relations
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Mercedes-Benz:
Tobias Brandstetter, phone: +49 176 30 941 650, This email address is being protected from spambots. You need JavaScript enabled to view it.
Oliver Fenzl, phone: +49 176 30 925 025, This email address is being protected from spambots. You need JavaScript enabled to view it.
Edward Taylor, phone: +49 176 30941776, This email address is being protected from spambots. You need JavaScript enabled to view it.
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has entered into a joint venture with Gulf Insulation Group in The Kingdom of Saudi Arabia to provide pre-insulated piping systems, piping fabrication, internal and external fusion bonded epoxy, three-layer coating services and leak detection systems for customers in the Kingdom of Saudi Arabia, Kuwait and Bahrain. This joint venture will be positioned to participate in Saudi Vision 2030, a strategic framework to diversify the Saudi Arabian economy through development of the public services sectors such as health, education, infrastructure, recreation and tourism.
Gulf Insulation Group is a subsidiary of the Zamil Industrial Investment Company a Saudi Arabian public company and one of the largest industrial groups in the Middle East.
The joint venture will be 60% controlled by Perma-Pipe International Holdings, Inc. and 40% by Gulf Insulation Group through their subsidiaries, respectively.
Formation of the joint venture is subject to approval of the Kingdom of Saudi Arabia General Authority for Competition.
Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region commented, “I am pleased to partner with Gulf Insulation Group to combine our strengths and better serve our customers through new products and expanded services and capabilities.”
Dave Mansfield, President and CEO commented, “The Zamil Group is a trusted name in the Middle East. We are fortunate to partner with a quality organization that serves both coatings and construction markets.”
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.
Gulf Insulation Group
Gulf Insulation Group “GIG” is a regional leader in the insulation business. GIG operates as a manufacturer and supplier of a complete range of insulation materials based in Riyadh, Saudi Arabia, with manufacturing plants located in Riyadh, Dammam and Al Kharj. GIG was established in 2009 as a closed joint stock company. GIG provides engineering, manufacturing and technology to supply environmentally efficient solutions to projects across the region and beyond.
In 2011, Zamil Industrial Investment Company (Zamil Industrial) merged its insulation sector with GIG and became managing partner of GIG.
Forward-Looking Statements
Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s percentage-of-completion revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).
Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
847.929.1200
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DALLAS--(BUSINESS WIRE)--Atmos Energy Corporation (NYSE: ATO) will host a conference call on Wednesday, February 8, 2023, at 9:00 a.m. Eastern to review the company’s Fiscal 2023 first quarter financial results. Atmos Energy will release these results on Tuesday, February 7, 2023, following the market close.
To listen to the conference call, please dial either the toll-free or international number provided below. You may also listen to the call on the Atmos Energy website at www.atmosenergy.com. The Internet broadcast will be archived for thirty days.
Conference Call Details
February 8, 2023
9:00 a.m. Eastern / 8:00 a.m. Central
Toll-free: 888-396-8049
International: 416-764-8646
(No pass code)
Internet webcast: www.atmosenergy.com
Atmos Energy Corporation, an S&P 500 company headquartered in Dallas, is the country’s largest natural gas-only distributor. We safely deliver reliable, affordable, efficient and abundant natural gas to more than 3 million distribution customers in over 1,400 communities across eight states located primarily in the South. As part of our vision to be the safest provider of natural gas services, we are modernizing our business and infrastructure while continuing to invest in safety, innovation, environmental sustainability and our communities. Atmos Energy manages proprietary pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. Find us online at http://www.atmosenergy.com, Facebook, Twitter, Instagram and YouTube.
Analyst and Media Contact:
Dan Meziere
(972) 855-3729
LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT) announced today that it expects to issue fourth quarter 2022 earnings before the market opens on Wednesday, January 18. It will hold a conference call from 8:00-9:00 a.m. CST on the same day to discuss the quarterly results and answer questions from the investment community. An online, real-time webcast of the quarterly conference call will be available at investor.jbhunt.com on January 18 at 8:00 a.m. CST. An online replay of the earnings call webcast will be available a few hours after the completion of the call.
This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2021. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available immediately to interested parties on our website, www.jbhunt.com.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., a Fortune 500 and S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.
Brad Delco
Senior Vice President – Finance
479.820.2723
HOUSTON--(BUSINESS WIRE)--MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the quarterly payment period ended December 31, 2022.
Unitholders of record on January 17, 2023 will receive a distribution amounting to $4,715,000 or $0.410 per unit payable January 25, 2023.
Volumes, average price and net profits for the payment period were:
Volume (BOE) |
|
156,781 |
|
|
Average price (per BOE) |
|
$ |
80.31 |
|
Gross proceeds |
|
$ |
12,590,781 |
|
Costs |
|
$ |
6,107,904 |
|
Net profits |
|
$ |
6,482,877 |
|
Percentage applicable to Trust’s 80% |
|
|
|
|
Net profits interest |
|
$ |
5,186,301 |
|
MV Partners reserve for capital expenditures |
|
$ |
-- |
|
Total cash proceeds available for the Trust |
|
$ |
5,186,301 |
|
Provision for current estimated Trust expenses |
|
$ |
(207,760 |
) |
Amount withheld for future Trust expenses |
|
$ |
(263,541 |
) |
Net cash proceeds available for distribution |
|
$ |
4,715,000 |
|
As previously disclosed, in November 2021, the Trustee notified MV Partners, LLC (“MV Partners”) that the Trustee intends to build a reserve for the payment of future known, anticipated or contingent expenses or liabilities, commencing with the distribution payable in the first quarter of 2022. The Trustee intends to withhold a portion of the proceeds otherwise available for distribution each quarter to gradually build a cash reserve to approximately $1.265 million. This amount is in addition to the letter of credit in the amount of $1.8 million provided to the Trustee by MV Partners to protect the Trust against the risk that it does not have sufficient cash to pay future expenses. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the Trust Agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold $263,541 from the proceeds otherwise available for distribution this quarter, for a total amount of $1,001,460 withheld to date.
This press release contains forward-looking statements. Although MV Partners has advised the Trust that MV Partners believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended December 31, 2022. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
HOUSTON & DENVER--(BUSINESS WIRE)--$PSX--Phillips 66 (NYSE: PSX) and DCP Midstream, LP (“DCP Midstream”) (NYSE: DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%.
“We are delivering on our commitment to grow our NGL business,” said Mark Lashier, President and CEO of Phillips 66. “Our wellhead-to-market platform captures the full NGL value chain. As we continue integrating DCP Midstream, we are unlocking significant synergies and growth opportunities.”
In combination with the previously announced realignment of Phillips 66’s economic and governance interests in DCP Midstream, the transaction is expected to generate an incremental $1 billion of adjusted EBITDA for Phillips 66. In addition, Phillips 66 expects to capture operational and commercial synergies of at least $300 million by integrating DCP Midstream into its existing midstream business.
Phillips 66 plans to fund the approximately $3.8 billion cash consideration through a combination of cash and debt while maintaining its current investment grade credit ratings. The transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.
The transaction was unanimously approved by the board of directors of DCP Midstream GP, LLC, the general partner of DCP Midstream GP, LP, the general partner of DCP Midstream, based on the unanimous approval and recommendation of a special committee comprised entirely of independent directors after evaluation of the transaction by the special committee in consultation with independent financial and legal advisors.
Affiliates of Phillips 66, as the holders of a majority of the outstanding DCP Midstream common units, have delivered their consent to approve the transaction. As a result, DCP Midstream has not solicited and is not soliciting approval of the transaction by any other holders of DCP Midstream common units.
Barclays acted as exclusive financial advisor to Phillips 66, Bracewell LLP acted as legal counsel to Phillips 66, and Morris, Nichols, Arsht & Tunnell LLP acted as special Delaware counsel to Phillips 66. Evercore acted as financial advisor to the special committee of the board of directors of DCP Midstream GP, LLC, and Hunton Andrews Kurth LLP and Richards, Layton & Finger, PA acted as legal counsel to the special committee. For further information on this transaction, refer to the DCP Midstream Transactions Overview available on the Phillips 66 Investors site, phillips66.com/investors.
Additional Information and Where You Can Find It
This news release does not constitute a solicitation of any vote or approval with respect to the proposed transaction. This release relates to a proposed business combination between Phillips 66 and DCP Midstream. In connection with the proposed transaction, Phillips 66 and DCP Midstream expect to file an information statement and other documents with the U.S. Securities and Exchange Commission (“SEC”). INVESTORS AND SECURITYHOLDERS OF PHILLIPS 66 AND DCP MIDSTREAM ARE ADVISED TO CAREFULLY READ ANY INFORMATION STATEMENT AND ANY OTHER DOCUMENTS THAT HAVE BEEN FILED OR MAY BE FILED WITH THE SEC (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE TRANSACTION. The definitive information statement, when available, will be sent to securityholders of DCP Midstream relating to the proposed transaction. Investors and securityholders may obtain a free copy of such documents and other relevant documents (if and when available) filed by Phillips 66 or DCP Midstream with the SEC from the SEC’s website at www.sec.gov. Securityholders and other interested parties will also be able to obtain, without charge, a copy of such documents and other relevant documents (if and when available) from Phillips 66’s website at www.phillips66.com under the “Investors” tab under the heading “SEC Filings” under the “Financial Information” sub-tab or from DCP Midstream’s website at www.dcpmidstream.com under the “Investors” tab and the “SEC Filings” sub-tab.
Participants in the Solicitation
Phillips 66, DCP Midstream and their respective directors, executive officers and certain other members of management may be deemed to be participants in the solicitation of consents in respect of the transaction. Information about these persons is set forth in Phillips 66’s proxy statement relating to its 2022 Annual Meeting of Stockholders, which was filed with the SEC on March 31, 2022; Phillips 66’s Annual Report on Form 10-K, which was filed with the SEC on February 18, 2022; certain of Phillips 66’s Current Reports on Form 8-K; DCP Midstream’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 18, 2022, and subsequent statements of changes in beneficial ownership on file with the SEC. Securityholders and investors may obtain additional information regarding the interests of such persons, which may be different than those of the respective companies’ securityholders generally, by reading the information statement and other relevant documents regarding the transaction (if and when available), which may be filed with the SEC.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the anticipated consummation of the proposed transaction and the timing thereof. Words such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements contained in this release include, but are not limited to, statements regarding the expected benefits of the potential transaction to Phillips 66 and its shareholders and DCP Midstream and its unitholders, and the anticipated consummation of the proposed transaction and the timing thereof. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: uncertainties as to the timing to consummate the potential transaction; the effects of disruption to Phillips 66’s or DCP Midstream’s respective businesses; the effect of this news release on the price of Phillips 66’s shares or DCP Midstream’s common units; transaction costs; Phillips 66’s ability to achieve benefits from the proposed transaction; and the diversion of management’s time on integration-related and transaction-related issues. Other factors that could cause actual results to differ from those in forward-looking statements include: the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around Phillips 66’s midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; the inability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities (including the Russia-Ukraine war), expropriation of assets, and other political, economic or diplomatic developments, including those caused by public health issues and international monetary conditions and exchange controls; changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels pricing, regulation or taxation, including exports; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to Phillips 66’s business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates Phillips 66 does not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in its filings with the SEC. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Use of Non-GAAP Financial Information— This news release includes the term “adjusted EBITDA,” which, as used in this release, is a forward-looking non-GAAP financial measure. EBITDA is defined as estimated net income plus estimated net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as estimated EBITDA plus the proportional share of selected equity affiliates’ estimated net interest expense, income taxes, depreciation and amortization less the portion of estimated adjusted EBITDA attributable to noncontrolling interests. Net income is the most directly comparable GAAP financial measure for the consolidated company. Adjusted EBITDA estimates depend on future levels of revenues and expenses, including amounts that will be attributable to noncontrolling interests, which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected adjusted EBITDA to consolidated net income or segment income before income taxes without unreasonable effort.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
About DCP Midstream
DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers, and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.
Jeff Dietert (investors)
832-765-2297
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Owen Simpson (investors)
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#AAA--UGI Corporation (NYSE: UGI) announced today that in December 2022 it received a rating upgrade to AAA in the 2022 MSCI environmental, social and governance (ESG) ratings assessment. According to MSCI, UGI performed in the top 7%1 of all peer companies evaluated globally in 2022, for actions across ESG matters. This reflects UGI’s robust governance practices, ongoing dedication to the health and safety of our employees and the customers we serve, and environmental strategies to manage emissions.
MSCI ESG Research provides in-depth research, ratings and analysis of the ESG-related business practices of thousands of companies worldwide. MSCI research is designed to provide critical insights that can help institutional investors identify risks and opportunities that traditional investment research may overlook. Learn more about the MSCI ESG rating here.
Roger Perreault, President and Chief Executive Officer of UGI, said, “We are delighted to receive this rating upgrade which affirms our commitment to corporate social responsibility and sustainability. At UGI, we continue to take a disciplined and collaborative approach to ESG matters, with an emphasis on transparency and progress. This upgrade reflects the commitment of our employees to live our core values of sustainability, reliability, safety, excellence, respect, and integrity. We remain focused on advancing our ESG mission and helping the families, businesses and communities that we serve, in their own sustainability initiatives.”
Disclaimer Statement
The use by UGI Corporation of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of UGI Corporation by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States and California, and internationally in France, Belgium, and the Netherlands.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
1Universe: MSCI ACWI Index constituents, Oil & Gas refining, Marketing, Transportation & Storage
Investor Relations
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Arnab Mukherjee, ext. 7498
DUBLIN--(BUSINESS WIRE)--The "Energy Management Systems Market Share, Size, Trends, Industry Analysis Report, By System; By Component; By Deployment; By Region; Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global energy management system market size is expected to reach USD 108 billion by 2030, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
North America controls most of the global market and is expected to maintain its dominance in the coming years because energy management systems significantly improve energy performance compared to an initial energy baseline. They lead systematically (plan-do-check-act), resulting in ongoing energy efficiency improvement. They also create a policy for efficient energy use and maintain efficiency overall project return on investment. They also generate data to better understand and make decisions about energy consumption.
Furthermore, an energy management system is superior to ad hoc or traditional project-based approaches to improving energy performance because it involves implementing a systematic approach to energy efficiency. These systems typically comprise best practices in project management, energy monitoring, and energy awareness, as well as an energy policy that governs an organization's energy use and performance.
Within the organization, the energy management system raises awareness and commitment to energy, i.e., consumption, use, efficiency, and renewable sources. It improves organizations' ability to manage energy risks and their potential consequences in an efficient manner, as well as strengthens their competitiveness and reduces their vulnerability to energy price fluctuations and energy availability.
Thus, rapid use of this system across commercial, industrial, and public sector organizations fueled the market growth.
Furthermore, implementing energy management systems yields significant benefits other than energy and cost savings. Early adoption experiences have shown that adhering to the standard results in some non-energy benefits, such as increased productivity and lower maintenance requirements.
Significant energy and cost savings were achieved in many cases with little or no capital investment. This is because ISO 50001 promotes a cultural shift that engages and empowers employees to identify and address energy-saving opportunities as they arise. Companies achieve energy savings persistence by continuously monitoring and improving energy efficiency.
However, conforming to an internationally recognized standard, such as ISO 50001, provides the company with additional market value. Companies and organizations can demonstrate their commitment to sustainability to their customers, employees, investors, and regulators by obtaining ISO 50001 certification.
Companies and organizations can gain a competitive advantage by demonstrating their corporate citizenship. This can help to improve their brand, which directly benefits them.
Energy Management System Market Report Highlights
Market Dynamics
Drivers and Opportunities
Restraints and Challenges
The publisher has segmented the energy management system market report based on system, component, deployment and region:
Energy Management System, System Outlook (Revenue - USD Billion, 2022 - 2030)
Energy Management System, Component Outlook (Revenue - USD Billion, 2022 - 2030)
Energy Management System, Deployment Outlook (Revenue - USD Billion, 2022 - 2030)
Energy Management System, Regional Outlook (Revenue - USD Billion, 2022 - 2030)
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Energy Management Systems Market Insights
5. Global Energy Management Systems Market, by System
6. Global Energy Management Systems Market, by Component
7. Global Energy Management Systems Market, by Deployment
8. Global Energy Management Systems Market, by Geography
9. Competitive Landscape
10. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/6vnce
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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BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE:EAF) (the “Company”) will hold its Fourth Quarter and Full Year 2022 Earnings Conference Call and Webcast on Friday, February 3, 2023 at 10:00 a.m. (EST). The call will be hosted by senior management to discuss unaudited financial results for the fourth quarter and year ended December 31, 2022 and current business initiatives. These financial results will be released on Friday, February 3, 2023 before market open and will be available on our investor relations website at: http://ir.graftech.com.
The conference call dial-in number is +1 (888) 886-7786 toll-free in North America or +1 (416) 764-8658 for overseas calls, conference ID: 39692735. Live audio of the conference call will be available via webcast on our website or can be accessed at: https://viavid.webcasts.com/starthere.jsp?ei=1589729&tp_key=866465bcf7. Archived replays of the conference call and webcast will be made available on our investor relations website at: http://ir.graftech.com.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, a key raw material for graphite electrode manufacturing. This unique position provides us with competitive advantages in product quality and cost.
Michael Dillon
216-676-2000
DUBLIN--(BUSINESS WIRE)--The "North American Power Market Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study provides a perspective on key trends driving growth in the North American power market.
As the North American power market evolves and competition intensifies, it is becoming increasingly important for market participants to accelerate innovation and develop sustainable growth strategies.
Globally, governments are looking for solutions across sectors to mitigate climate change and support decarbonization, and the renewable energy, carbon capture storage and utilization (CCSU), digitalization, electrification, energy storage, and hydrogen markets hold the most significant opportunities.
The route to decarbonization requires supportive regulatory frameworks that mandate energy efficiency and emission reduction measures across all sectors. To achieve a low-carbon future, significant changes are required. Following the latest COP summit, more than 100 countries pledged their commitment to net-zero emissions by 2050.
In North America, Canada announced emissions pledges to reduce total greenhouse gas (GHG) emissions by 40-45% from 2005 levels by 2030, and the United States aims to cut emissions in half by 2030 (50-52% from 2005 levels).
Despite the eclectic market conditions, stakeholders across the North American power value chain exhibited great resilience by developing innovative business models and sustainable practices to increase sales. This resulted in record growth for the power market in 2021.
Renewable power generation, storage, and hybrid solutions have been central to decarbonization initiatives by state governments and the commercial and industrial (C&I) sector. In 2022, despite the supply chain constraints, the installation of clean power sources is poised to continue its momentum as demand for sustainable energy solutions accelerates in North America.
Key Issues Addressed:
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/avatai
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that Ms. Barbara J. Buck (“Barb”) has joined our Advisory Board with the objective of providing support in marketing our molybdenum production to end-user companies.
Barb has over forty years of professional experience. She served as President of the Executive Committee of the International Molybdenum Association (IMOA) from 2017-2021. IMOA is a non-profit global trade association representing approximately 95% of the molybdenum industry mine production and almost all the conversion capacity outside of China. Also, from 2005 to 2020, she was the Vice President, Marketing, Sales and Planning reporting to the President, Climax Molybdenum – a Freeport-McMoRan Company where she was responsible for global sales, marketing, and supply chain planning to molybdenum end users in the Americas, EU, UK, Japan and China. Among others, Ms. Buck previously served as Global Business Manager for Surface Specialties UCB reporting to Brussels Belgium from 1999-2005. She was also a Director and Global Business Manager within Amoco Chemical Company and Manager of Financial Analysis and Strategic Planning for several divisions of Union Carbide Corporation. Barbara has a Bachelor of Science degree in Chemical Engineering from Carnegie-Mellon University. She also concluded the Wharton Advanced Management Program at the University of Pennsylvania.
Dr. Ruben Shiffman, Chairman, commented: “We are extremely grateful to have Barb on our team. She not only built and ran the marketing division of one of the most successful molybdenum mines in the world, but she is also a highly educated person engaged in the academia, social and the philanthropic world. These are all important values our Company shares deeply. Because of our high-quality primary molybdenum with low impurity content, we have been in negotiations directly with molybdenum end users, roasters, and strategic stakeholders, in order to maximize our long term sales price and reduce sales commissions to intermediaries which can be significant. Barb will play a very important role on all of these.”
Ms. Barbara J. Buck commented: “I am delighted to join the Greenland Resources team as a Senior Advisor as they move forward with the Malmbjerg Molybdenum Project. Molybdenum is a critical material in a wide variety of end-use applications and it is making important contributions to global sustainable development. The Malmbjerg project will be a major molybdenum mine with a focus on responsible sourcing practices and community relations. It promises a secure supply of this important element in support of the EU critical minerals strategies. I am happy to support the work of Greenland Resources by building relationships with potential customers and processors that will benefit from this high-quality supply chain.”
About Greenland Resources Inc.
Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned world-class Climax type pure molybdenum deposit located in central east Greenland. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from a NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with Proven and Probable Reserves of 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2. The project had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) and our Canadian regulatory filings on Greenland Resources’ profile at www.sedar.com.
The Project is supported by the European Raw Materials Alliance (ERMA) as stated in their press release EIT/ERMA_June 13, 2022 Press Release, a Knowledge and Innovation Community of the European Institute of Innovation and Technology (EIT), a body of the European Union.
About Molybdenum and the European Union
Molybdenum is a critical metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition (World Bank, 2020; IEA, 2021). When added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. Based on data from the International Molybdenum Association and the European Commission Steel Report, the world produced around 576 million pounds of molybdenum in 2021 where the European Union (“EU”) as the second largest steel producer in the world used approximately 25% of global molybdenum supply and has no domestic molybdenum production. To a greater degree, the EU steel dependent industries like the automotive, construction, and engineering, represent around 18% of the EU’s ≈ US$16 trillion GDP. Greenland Resources strategically located Malmbjerg molybdenum project has the potential to supply in and for the EU approximately 24 million pounds per year, of environmentally friendly molybdenum from a responsible EU Associate country, for decades to come. The high quality of the Malmbjerg ore, having low impurity content in phosphorus, tin, antimony, and arsenic, makes it an ideal source of molybdenum for the high-performance steel industry lead worldwide by Europe, specifically the Scandinavian countries and Germany.
Forward Looking Statements
This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the projected and actual effects of the COVID-19 coronavirus on the factors relevant to the business of the Corporation, including the effect on supply chains, labour market, currency and commodity prices and global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information.
These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information.
Neither the NEO Exchange Inc. nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Ruben Shiffman, PhD Chairman, President
Keith Minty, P.Eng, MBA Engineering and Project Management
Jim Steel, P.Geo, MBA Exploration and Mining Geology
Nauja Bianco, M.Pol.Sci. Public and Community Relations
Gary Anstey Investor Relations
Eric Grossman, CPA, CGA Chief Financial Officer
Corporate office Suite 1410, 181 University Av. Toronto, Ontario, Canada M5H 3M7
Telephone +1 647 273 9913
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Web www.greenlandresources.ca
DUBLIN--(BUSINESS WIRE)--The "South African Diesel Genset Industry, Outlook 2025" report has been added to ResearchAndMarkets.com's offering.
South Africa is arguably sub-Saharan Africa's most developed economy and home to the region's largest energy sector.
However, the country's chronic energy crisis, most evident from the frequent loadshedding, largely stems from the failure of the national power utility, Eskom, to provide reliable, constant power supply due to its ailing coal-powered fleets and insufficient maintenance of the transmission and distribution network.
The poor condition of South Africa's national T&D network makes it prone to frequent unscheduled breakdowns, theft, and vandalization. The industry is looking at alternative backup power sources, such as diesel-powered generators, to avoid further operational losses. South Africa's primary need for diesel gensets lies in standby applications for industries and businesses, not prime power use.
The electricity grid is generally stable, with demand linked directly to loadshedding. The country has no direct manufacturing of diesel generators and heavily relies on the import of engines, alternators, or complete gensets from international markets.
While population growth, higher living standards, and increased industrial/mining activity drive demand for diesel gensets, alternative technologies such as renewable sources (wind, solar), battery energy storage systems, and gas generators are increasingly popular, restraining the diesel genset market growth.
However, alternative distributed energy resources (DER) are, to date, more expensive than diesel gensets and forecast to remain in the next 5 years. There are many opportunities for genset distributors to overcome market restraints through innovative customer services and the ability to adapt and enter new market opportunities.
Key Topics Covered:
1. Analysis Highlights
2. Strategic Imperatives
3. Project Scope
4. South Africa Macroeconomic Outlook
5. Growth Drivers and Restraints
6. South African Diesel Generator Market Fundamentals
7. Growth Opportunity Universe
8. Key Conclusions
For more information about this report visit https://www.researchandmarkets.com/r/se324n
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PARIS--(BUSINESS WIRE)--Technip Energies (PARIS: TE) has been awarded a large(1) contract for Project Management Consultancy (PMC) by Kuwait Oil Company (KOC).
The five-year framework agreement contract covers front-end engineering design (FEED), project management, and associated services for KOC’s major projects.
This contract represents a renewal of the first five-year framework agreement that was awarded to Technip Energies by KOC in 2014.
Charles Cessot, Senior Vice-President T.EN X of Technip Energies, commented: “We are delighted by the continued confidence shown by KOC with this award to support them on their major developments. This award reinforces the strong and lasting relationship we have built with KOC and reaffirms our outstanding consultancy delivery as well as our long-standing presence in Kuwait.”
(1) A “large” award for Technip Energies is a contract award representing between €250 million and €500 million of revenue. As the framework agreement is call-off in nature, the overall value of the contract will be progressively added to order intake as it is called off by the client.
To know more about Technip Energies PMC services:
Over the years, Technip Energies has become a contractor of choice for PMC services. Our group has been successful in supporting clients’ business objectives and consistently delivering projects with outstanding safety and environmental performance that meet cost, schedule and quality targets.
Learn more at: https://www.technipenergies.com/offering/project-management-consultancy
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information: www.technipenergies.com.
Disclaimers
This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.
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. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates. All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 20 7585 5051
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
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January 2023 Cash Dividend - $0.06 per share
TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) today announced its cash dividend for the month of January 2023 of $0.06 per share payable on February 15, 2023. The record date is January 31, 2023 and the ex-dividend date will be January 30, 2023. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.
A summary of Superior’s dividends paid for the year 2022 is detailed below. These dividends are considered to be an eligible dividend for Canadian income tax purposes.
Record Date |
Payment Date |
Dividend |
|
November 30, 2022 |
December 15, 2022 |
$0.06 |
|
October 31, 2022 |
November 15, 2022 |
$0.06 |
|
September 30, 2022 |
October 17, 2022 |
$0.06 |
|
August 31, 2022 |
September 15, 2022 |
$0.06 |
|
July 31, 2022 |
August 15, 2022 |
$0.06 |
|
June 30, 2022 |
July 15, 2022 |
$0.06 |
|
May 31, 2022 |
June 15, 2022 |
$0.06 |
|
April 30, 2022 |
May 13, 2022 |
$0.06 |
|
March 31, 2022 |
April 18, 2022 |
$0.06 |
|
February 28, 2022 |
March 15, 2022 |
$0.06 |
|
January 31, 2022 |
February 15, 2022 |
$0.06 |
|
December 31, 2021 |
January 14, 2022 |
$0.06 |
|
|
2022 Total |
$0.72 |
Move to Quarterly Dividend Payments
As previously communicated and subject to approval of future common share dividends by the Board of Directors, Superior intends to move from its current practice of paying monthly dividends to a quarterly common share dividend payment, following the monthly March 2023 dividend to be paid in April 2023. Quarterly dividend payments are expected to be made on the last business day of March, June, September and December to shareholders of record on the 10th day of the corresponding month, if, as and when declared by the Board of Directors. Should the record date fall on a weekend or on a statutory holiday, the record date will be the next succeeding business day following the weekend or statutory holiday. Subject to approval by the Board of Directors, the first quarterly dividend is expected to be paid in June 2023.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing approximately 890,000 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, Capital Markets, 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
This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to: future dividends, which may be declared on Superior’s common shares; the timing and the amount of such dividend payments; and the expected tax treatment thereof. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms promptly. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2021, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Beth Summers, Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran, Vice President, Capital Markets
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).
DUBLIN--(BUSINESS WIRE)--The "Distributed Acoustic Sensing Market, By Application by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Distributed acoustic sensing is a technology that facilitates real-time monitoring of pipelines and wells, in order to provide vital information to customers in various challenging circumstances. The basic principle of working of DAS is Rayleigh scattering and is used to determine acoustic strain signals over long distances.
This virtually and effectively turns optic fiber into a series of microphones. Thereafter, the data is acquired advanced processing techniques such as frequency filtering, time and depth domain stacking, are employed to obtain information for a wide variety of applications. Distributed acoustic sensing finds applications in monitoring of pipelines as well as railroads, highways, and borders.
The global distributed acoustic sensing (DAS) market was valued for US$ 624.3 Mn in 2019.
Market Dynamics
Growing adoption in of DAS in mineral exploration industries is expected to drive the growth of the global distributing acoustic market in the forecast period. DAS is very well suited for the mineral exploration as it has very low cost compared to currently using borehole seismic sensor.
Apart from low cost DAS has very small diameter so it can easily passed to boreholes to collect the data. The speed of acquisition speed I more due to the sensitivity along the entire length of the cable. That's why the adoption of DAS is increasing in the mineral exploration industry.
However, limited sensitivity of the ground motion to only the direction along the fiber and lack of couple formation creates which creates error in data. These factor may hamper the growth of DAS in the forecast period.
Key features of the study:
Detailed Segmentation
Global Distributed Acoustic Sensing (DAS) Market, By Application:
Global Distributed Acoustic Sensing (DAS) Market, By Region:
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/eytykg
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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