In The Spotlight
HOUSTON--(BUSINESS WIRE)--Ruths.ai, a trusted leader in oil and gas analytics, expands its Technical Advisory Board with the addition of Dr. Mark Zoback, Stanford University Professor of Geophysics, Senior Fellow at the Precourt Institute for Energy, and Director of the Stanford Natural Gas Initiative.
“Throughout his career, Mark pioneered the application of geomechanics across the asset and well lifecycle,” says Troy Ruths, Founder and CEO of Ruths.ai. “We are excited to infuse these geomechanics workflows with AI, driving improved well productivity through enhanced and scalable reservoir characterization from disparate data sources.”
Geomechanics plays a central role in understanding many of the key issues faced today by Oil and Gas operators in areas such as hydraulic fracturing, completions design, and drilling optimization. Dr. Zoback is a recognized leader in geomechanics, especially around shale gas, tight gas, and tight oil reservoirs. His latest book, Unconventional Reservoir Geomechanics: Shale Gas, Tight Oil and Induced Seismicity, will be available from Cambridge University Press and Amazon this April.
Ruths.ai will embed Dr. Zoback’s knowledge of geomechanics in a range of novel workflows in their Petro.ai software, the industry-leading suite of tools empowering teams to find the most efficient ways to develop their assets.
Dr. Zoback complements the already deep domain knowledge on staff at Ruths.ai developing the trusted analytics used by operators to bring thousands of wells online economically.
Find out more at www.ruths.ai.
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Widex USA, Inc. will be exhibiting at the 2019 American Academy of Audiology (AAA) Conference taking place March 27-29, 2019 in Columbus, Ohio. On exhibit at Booth #1025, Widex will be offering demonstrations of Widex ENERGY CELL technology as well as the second generation Widex EVOKE.
Widex ENERGY CELL technology uses what will be the world’s smallest commercially-available fuel cell to allow wearers to reenergize their hearing devices off the grid in just 20 seconds. The second generation Widex EVOKE features an upgraded ZPower® Rechargeable System and enhanced real-time machine learning to now work 25% faster.
“AAA is a great event each year, a place where hearing care professionals gather to learn about the latest tools, technology, events and treatments available to help improve the lives of people with hearing loss,” said Eric Spar, Senior Vice President of Sales, Widex USA. “We invite all of our customers, partners and everyone in the community to come visit us at booth #1025 to see and demo our latest technology, providing superior sound quality and personalization to meet the needs of every wearer.”
Widex audiologists will also be offering daily presentations during exhibit hours to give conference participants an opportunity to earn AAA CEU credits. Class topics include: speech-in-noise performance; fine tuning remote care; real-time machine learning with Widex EVOKE; and the future of fuel cell technology. See the full schedule of classes here.
For the audiology students in attendance, Widex USA will be hosting an exclusive happy hour on Thursday, March 28 from 4-6pm at the Widex USA booth #1025. Students will enjoy drinks and snacks, while getting a chance to socialize with fellow students and learn more about Widex technology.
For more information, please visit Widex USA at Booth #1025.
At Widex, we believe in a world where there are no barriers to communication; a world where people interact freely, effortlessly and confidently. With sixty years’ experience developing state-of-the-art technology, we provide hearing solutions that are easy to use, are seamlessly integrated in daily life, and enable people to hear naturally. As one of the world’s leading hearing aid producers, our products are sold in more than one hundred countries, and we employ 4,000 people worldwide.
HOUSTON--(BUSINESS WIRE)--The CWC LNG & Gas Summit took place in Tokyo, Japan on 19-20 February 2019 with participation and support from Japan’s Ministry of Economy, Trade and Industry (METI), JERA Co. Inc., Tokyo Gas and the Institute of Energy Economics Japan (IEEJ), along with more than 250 senior executives from across the LNG and gas value chain in both Japan and globally.
As one of the Summit’s primary sponsors, Commonwealth LNG had the privilege of participating and speaking at the event. During the lively panel discussion on Tomorrow’s LNG Supply Models, Paul Varello, CEO and President of Commonwealth LNG, addressed the critical need for greater innovation in the design and construction of the next wave of LNG projects.
Citing the high construction costs and schedule delays that have negatively impacted the first wave of US LNG projects, Mr. Varello underscored how innovation in the design and construction of future LNG projects would be necessary to meet the evolving demands of LNG customers.
“As a participant in the second wave of LNG liquefaction projects, we had the distinct advantage of sitting back and studying the first wave of projects to see what we could learn from the problems they encountered and to apply progressive solutions to address those problems,” stated Varello.
Varello’s message was not lost on the Tokyo audience, many of whom have witnessed firsthand the many issues plaguing these first US LNG projects. “The definition of insanity, as Einstein rightfully acknowledges, is ‘doing the same thing over and over and expecting different results.’ At some point, you have to adjust your approach.”
Among the innovative ways that Commonwealth LNG is developing its project is a purer application of modularization. “A lot of projects claim to be modular, but, in reality, few actually fit that definition.”
In cooperation with engineering and design powerhouses TechnipFMC and Arup Group, Commonwealth will employ a fully-modular design and construction approach for the project’s liquefaction trains, auxiliary equipment and even its LNG storage tanks. In doing so, the company will dramatically reduce the amount of craft labor on the site, lower the capital expenditure (CAPEX) cost by roughly one billion dollars and shave a full year off the field construction schedule.
Commonwealth LNG is an 8.4 mtpa LNG liquefaction and export project located on the west bank of the Calcasieu Ship Channel at the mouth of the Gulf of Mexico near Cameron, Louisiana. Commercial operations are expected to start in the first quarter of 2024.
HOUSTON--(BUSINESS WIRE)--Noble Midstream Partners LP (NYSE: NBLX) (the “Partnership” or “Noble Midstream”) today announced it has secured a $200 million equity commitment (“Preferred Equity”) from Global Infrastructure Partners Capital Solutions Fund (“GIP”) to fund capital contributions to Dos Rios Crude Intermediate LLC, a newly-formed subsidiary holding Noble Midstream’s 30% equity interest in the EPIC Crude Pipeline. Of the $200 million total commitment, $100 million will be funded during the first quarter of 2019, with the remaining $100 million available for a one-year period, subject to certain conditions precedent. The Preferred Equity is perpetual and has a 6.5% annual dividend rate, payable quarterly in cash, with the ability to defer payment during the first two years following the closing. In addition, Noble Midstream can redeem the Preferred Equity in whole or in part at any time for cash at a predetermined redemption price. GIP can request redemption of the Preferred Equity following the later of the sixth anniversary of the Preferred Equity closing or the fifth anniversary of the EPIC Crude Pipeline completion date at a pre-determined base return. Proceeds from the Preferred Equity will be used to repay a portion of outstanding borrowings under the Partnership’s revolving credit facility, which were drawn to fund the Partnership’s exercise of its option to invest in the EPIC Crude Pipeline.
Commenting on the announcement, John Bookout, Chief Financial Officer, said, “We look forward to having GIP as our partner given their extensive energy investing track record and believe this transaction is a further endorsement of our investment in the EPIC Crude Pipeline. This Preferred Equity provides an attractive funding source for the Partnership, allowing us to maintain a prudent balance sheet without issuing common equity as the EPIC Crude Pipeline progresses. We are excited to capitalize on the growing demand for crude oil takeaway and export capability from the Permian Basin and look forward to adding a high-quality source of cash flow to our portfolio. The EPIC Crude Pipeline, together with our other recently announced joint ventures, is a crucial piece in building a leading Permian Basin midstream platform and delivering long-term value for our unitholders.”
The 30-inch EPIC Crude Pipeline is being designed with an initial capacity of 590 MBbl/d from the Permian Basin and Eagle Ford to the Gulf Coast. With the installation of additional pumps and storage, EPIC can increase the 30-inch capacity to approximately 900 MBbl/d. Interim service remains on track for startup in the third quarter of 2019 and permanent service is anticipated in January of 2020.
Barclays Capital Inc. acted as financial advisor and Vinson & Elkins L.L.P. served as legal counsel to Noble Midstream. Bracewell LLP represented GIP.
About Noble Midstream
Noble Midstream is a growth-oriented master limited partnership formed by Noble Energy, Inc., to own, operate, develop and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services in the DJ Basin in Colorado and the Delaware Basin in Texas. For more information, please visit www.nblmidstream.com.
About Global Infrastructure Partners
Global Infrastructure Partners ("GIP") is an independent infrastructure fund manager that invests in the equity and credit of infrastructure assets and businesses. GIP targets investments in OECD and select emerging market countries in single assets and portfolios of assets and companies in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment and waste management. GIP has offices in New York, London and Mumbai, with an affiliate in Sydney and portfolio company operations headquarters in Stamford, Connecticut. For more information, visit www.global-infra.com.
About EPIC Pipeline
EPIC was formed in 2017 to build, own, and operate midstream infrastructure in both the Permian and Eagle Ford Basins. EPIC’s first two projects, the EPIC Crude Pipeline and the EPIC NGL Pipeline, will transport crude and NGL across Texas for delivery into the Corpus Christi market. The EPIC Pipelines are backed by capital commitments from funds managed by the Private Equity Group of Ares Management, L.P. (NYSE: ARES). For more information, visit www.epicmid.com.
The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws. This press release is neither an offer to sell nor a solicitation of an offer to purchase the securities described herein.
This news release contains certain “forward-looking statements” within the meaning of federal securities law. Words such as “anticipates”, “believes”, “expects”, “intends”, “will”, “should”, “may”, “estimates”, and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect the Partnership’s current views about future events. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. For further discussion of risks and uncertainties, you should refer to those described under “Risk Factors” and “Forward-Looking Statements” in the Partnership’s most recent Annual Report on Form 10-K and in other reports we file with the Securities and Exchange Commission. These reports are also available from the Partnership’s office or website, www.nblmidstream.com. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Midstream does not assume any obligation to update forward-looking statements should circumstances, management’s estimates, or opinions change.
DALLAS--(BUSINESS WIRE)--Energy Transfer Operating, L.P. (“ETO”) (formerly, Energy Transfer Partners, L.P., and a subsidiary of Energy Transfer LP (“ET”)) announced today the final results of its previously announced offers to exchange any and all validly tendered and accepted senior notes of each series listed in the table below issued by ET (collectively, the “Existing ET Notes”), for new notes to be issued by ETO and the related solicitations of consents to amend the indenture governing the Existing ET Notes (together, the “Exchange Offers and Consent Solicitations”). As of 11:59 p.m., New York City time, on March 22, 2019 (the “Expiration Date”), and as indicated in the table below, approximately $4.21 billion aggregate principal amount, or approximately 97%, of Existing ET Notes had been validly tendered and not validly withdrawn, such that the requisite number of consents to adopt certain amendments to the indenture governing the Existing ET Notes has been received.
The following table sets forth the aggregate principal amount of each series of Existing ET Notes that were validly tendered and not validly withdrawn as of the Expiration Date pursuant to the terms and conditions of the Exchange Offers and Consent Solicitations. The final settlement of the Exchange Offers and Consent Solicitations is expected to take place on or about March 25, 2019.
|Title of Series of Existing ET Notes/CUSIP Number(s) (Collectively, the “Existing ET Notes”)||Aggregate Principal Amount Outstanding||Tenders and Consents Received as of the Expiration Date||Percentage of Total Outstanding Principal Amount of such Series of Existing ET Notes|
|7.500% Senior Notes due 2020 / 29273VAC4||$1,187,032,000||$1,128,540,000||95.1%|
|4.250% Senior Notes due 2023 / 29273VAG5||$1,000,000,000||$993,153,000||99.3%|
|5.875% Senior Notes due 2024 / 29273VAD2 / 29273VAE0||$1,150,000,000||$1,127,484,000||98.0%|
|5.500% Senior Notes due 2027 / 29273VAF7||$1,000,000,000||$955,955,000||95.6%|
A Registration Statement on Form S-4 (File No. 333-229843) (the “Registration Statement”) relating to the Exchange Offers and Consent Solicitations was filed with the Securities and Exchange Commission (“SEC”) on February 25, 2019, amended by Amendment No. 1 to the Registration Statement, filed with the SEC on March 7, 2019, and declared effective by the SEC on March 20, 2019.
The Exchange Offers and Consent Solicitations were made upon the terms and subject to the conditions set forth in the prospectus dated as of March 20, 2019 (the “Prospectus”), which forms a part of the Registration Statement, and which contains the complete description of the terms and conditions of the Exchange Offers and Consent Solicitations.
The Dealer Managers for the Exchange Offers and the Solicitation Agents for the Consent Solicitations are:
388 Greenwich Street, 7th Floor
New York, New York 10013
Attn: Liability Management Group
Collect: (212) 723-6106
Toll-Free: (800) 558-3745
J.P. Morgan Securities LLC
383 Madison Avenue
New York, New York 10179
Attention: Liability Management Group
Collect: (212) 834-3424
Toll-Free: (866) 834-4666
TD Securities (USA) LLC
31 West 52nd Street
New York, New York 10019
Attn: Liability Management Group
Toll-Free: (855) 495-9846
The Information Agent and Exchange Agent for the Exchange Offers and Consent Solicitations is:
|Global Bondholder Services Corporation
65 Broadway, Suite 404
New York, New York 10006
Banks and Brokers Call Collect: (212) 430-3774
All Others Call Toll-Free: (866) 924-2200
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities described herein and is also not a solicitation of the related consents. The Exchange Offers and Consent Solicitations were made only pursuant to the terms of the Prospectus and the other related materials.
Energy Transfer Operating, L.P. owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, its core operations include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. Energy Transfer Operating, L.P.’s general partner is owned by Energy Transfer LP (NYSE: ET).
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major U.S. production basins, ET is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ET, through its ownership of Energy Transfer Operating, L.P., formerly known as Energy Transfer Partners, L.P., also owns the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 39.7 million common units of USA Compression Partners, LP (NYSE: USAC).
Statements about the Exchange Offers and Consent Solicitations may be forward-looking statements. Forward-looking statements can be identified by words such as “anticipates,” “believes,” “intends,” “projects,” “plans,” “expects,” “continues,” “estimates,” “goals,” “forecasts,” “may,” “will” and other similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of ETO, and a variety of risks that could cause results to differ materially from those expected by management of ETO. Important information about issues that could cause actual results to differ materially from those expected by management of ETO can be found in ETO’s public periodic filings with the SEC, including its Annual Report on Form 10-K. ETO undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
NEW YORK, March 25, 2019 /PRNewswire/ -- The global polymer foam market size is expected to reach USD 144.46 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 4.0% over the forecast period. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, packaging, and other such applications. Rigid foams are used primarily as an insulation material in construction and refrigeration applications.
Read the full report: https://www.reportlinker.com/p05741256/?utm_source=PRN
They are energy-efficient and help reduce energy costs. Flexible foams are used as cushioning materials in transportation, furniture, bedding, packaging, etc. Thus, rising demand from the automotive and building and construction industries, particularly in Europe and Asia Pacific regions, is the key factor driving the market growth. Moreover, focus on the development of biodegradable foams owing to stringent environmental regulations across the globe has opened new growth opportunities for manufacturers. However, the manufacturing cost of biodegradable types is still higher than petroleum-based chemicals, due to which it will take a couple of years for manufacturers to completely adopt this variant.
The market is segmented on the basis of type into Polyurethane (PU) foam, polystyrene foam, Polyvinyl Chloride (PVC) foam, phenolic foam, polyolefin foam, melamine foam, and others. Polystyrene foam was the largest segment and accounted for 32.2% of the global revenue in the past. Expanded polystyrene-based products have excellent shock absorbing properties and are preferred in storing, packaging, and transporting of electrical equipment, cooked food, and perishable goods. It is also preferred in several marine floatation applications including construction of floating docks, surfboards, and boat stands.
Polyolefin foams including Polypropylene (PP) and Polyethylene (PE) are expected to witness significant growth in the coming years. The low melt strength of these products, particularly of PP, limited the growth of this segment in the past. However, the advent of technologies, such as post reactor radiation method and compounding modifiers method, has augmented their demand. These technologies were introduced to improve the product strength to meet the requirements in wind energy applications (spar webs and shell panels) and in marine applications (vibration control and cushion seats).
Further key findings from the study suggest:
Polyolefin foam is estimated as one of the fastest-growing segments over the forecast period. They are eco-friendly and lightweight thus, have the maximum demand in flooring and automotive industries
Building and construction was the largest application segment in 2017 and accounted for 37.3% of global market volume
Asia Pacific region is estimated to witness the highest growth over the forecast period due to high demand from manufacturing sectors of India, China, and Indonesia
Prominent companies in the polymer foam market include BASF SE, Woodbridge Foam Corporation, Borealis AG, Sealed Air Corporation, Zotefoams PL, Armacell International S.A., and Recticel Group
Capacity expansions and acquisitions are some of the strategies adopted by most of the companies to expand their product portfolio. In 2016, Synthos S.A. acquired INEOS Styrenics to increase its production capacity for Expandable Polymer Styrene (XPS).
Grand View Research has segmented the global polymer foam market on the basis of type, application, and region:
Polymer Foam Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Polyurethane (PU) Foam
Polyvinyl Chloride (PVC) Foam
Polymer Foam Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Building & Constructions
Furniture & Bedding
Polymer Foam Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
Read the full report: https://www.reportlinker.com/p05741256/?utm_source=PRN
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