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MEXCO ENERGY CORPORATION REPORTS FINANCIAL RESULTS FOR FISCAL 2025
MEXCO ENERGY CORPORATION REPORTS FINANCIAL RESULTS FOR FISCAL 2025 MIDLAND, TX, June 27, 2025 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) reported results on its Annual Report, Form 10-K to the Securities and Exchange Commission for the fiscal year ended March 31, 2025. The Company reported net income of $1,712,368, or $0.81 per diluted share, a 27% increase compared to fiscal 2024. Operating revenues for fiscal 2025 were $7,358,066, an 11% increase when compared to fiscal 2024. This increase was primarily due to an increase in oil and natural gas production volumes and partially offset by a decrease in the average sale prices of oil and natural gas. Natural gas prices have been low due to limited pipeline capacities in the Permian Basin. For the year ended March 31, 2025, the average realized price for oil was $73.54 per barrel and the average realized price for natural gas was $1.70 per thousand cubic feet. The Company participated in the drilling of 35 horizontal wells at a cost of approximately $1,100,000 for the fiscal year ending March 31, 2025, of which 17 are to be completed this fiscal year. Twenty-nine of these wells are in the Delaware Basin located in the western portion of the Permian Basin in Lea and Eddy Counties, New Mexico. The Company also expended approximately $300,000, the balance required to complete 19 horizontal wells which were drilled during fiscal 2024. In addition to the above working interests, there were 120 gross wells (.09 net wells) drilled by other operators on the Company's royalty interests. Approximately 31% of the fiscal 2025 operating revenues were produced from royalties free of operational costs to Mexco. The Company currently expects to participate in the drilling of 27 and completion of 17 horizontal wells at an estimated aggregate cost of approximately $1.2 million for the fiscal year ending March 31, 2026, of which approximately $300,000 has been expended to date. The Company is evaluating other prospects for participation during this fiscal year. The Company's estimated present value of proved reserves at March 31, 2025 was approximately $23 million based on estimated future net revenues discounted at 10% per annum, pricing and other assumptions set forth in "Item 2 Properties" of Form 10-K. The Company's estimated proved oil reserves at March 31, 2025 decreased 15% to 675 thousand barrels of oil and natural gas reserves decreased 4% to 4.360 billion cubic feet compared to the prior fiscal year primarily as a result of decreased prices of oil and natural gas in the past fiscal year. For fiscal 2025, oil constituted approximately 51% of the Company's total proved reserves and approximately 86% of the Company's oil and gas sales. The President and Chief Financial Officer of the Company said, "We have approximately $2.2 million cash on hand, no outstanding indebtedness on our bank line of credit and are actively seeking opportunities." Throughout the year, the Company acquired various royalty and mineral interests in 840 gross wells (2.31 net wells) primarily in Adams, Broomfield and Weld Counties, Colorado; DeSoto Parish, Louisiana; Eddy County, New Mexico; Karnes, Live Oak, Reagan, Reeves and Upton Counties, Texas; Laramie County, Wyoming; and, multiple counties in Nebraska, North and South Dakota, and Montana, for an aggregate purchase price of approximately $2.0 million. These and other related expenditures were funded from cash on hand. Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company located in Midland, Texas engaged in the acquisition, exploration and development of oil and gas properties primarily in the Permian Basin. For more information on Mexco Energy Corporation, go to www.mexcoenergy.com. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Mexco Energy Corporation cautions that statements in this press release which are forward-looking and which provide other than historical information involve risks and uncertainties that may impact the Company's actual results of operations. These risks include, but are not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, exploration risks, uncertainties about estimates of reserves, competition, government regulation, and mechanical and other inherent risks associated with oil and gas production. A discussion of these and other factors, including risks and uncertainties, is set forth in the Company's Form 10-K for the fiscal year ended March 31, 2025. Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements. For additional information, please contact: Tammy L. McComic, President and Chief Financial Officer of Mexco Energy Corporation, (432) 682-1119.
PrimeEnergy Resources Corporation Announces Change in Independent Registered Public Accounting Firm
PrimeEnergy Resources Corporation Announces Change in Independent Registered Public Accounting Firm HOUSTON, June 27, 2025 (GLOBE NEWSWIRE) -- PrimeEnergy Resources Corporation (NASDAQ: PNRG, today announced that it has appointed Withum Smith+Brown, PC ("Withum") as the Company's independent registered public accounting firm, effective June 27, 2025. The decision to change auditors was recommended and approved by the Company's Audit Committee and the Board of Directors. PrimeEnergy Resources is an independent oil and natural gas company engaged in the acquisition, development, and production of hydrocarbons, primarily in Texas. The Company's common stock trades on the NASDAQ under the symbol PNRG. For investor inquiries, contact: Connie Ng (713) 735-0000 ext. 6416 Forward-Looking StatementsThis Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.
Nine Energy Service Announces Timing of Second Quarter 2025 Earnings Release and Conference Call
Nine Energy Service Announces Timing of Second Quarter 2025 Earnings Release and Conference Call HOUSTON, Jun. 27 /BusinessWire/ -- Nine Energy Service, Inc. (NYSE:NINE) announced today that it has scheduled its second quarter 2025 earnings conference call for Wednesday, August 6, 2025, at 9:00 am Central Time. During the call, Nine will discuss its financial and operating results for the quarter ended June 30, 2025, which are expected to be released prior to the conference call. Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and ask for the "Nine Energy Service Earnings Call." Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call. For those who cannot listen to the live call, a telephonic replay of the call will be available through August 20, 2025, and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and enter passcode 13754403. About Nine Energy Service Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, Haynesville, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada. For more information on the Company, please visit Nine's website at nineenergyservice.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250627381670/en/ back
Ecopetrol Extends Temporary 50% Fee Reduction Agreement for ADR Conversion in the United States
Ecopetrol Extends Temporary 50% Fee Reduction Agreement for ADR Conversion in the United States BOGOTA, Colombia, June 27, 2025 /PRNewswire/ -- Ecopetrol announces that, following discussions with its ADR (American Depositary Receipts) program depositary bank, JPMorgan Chase Bank N.A., it has successfully extended the agreement to reduce by 50% the conversion fees for the issuance and cancellation of ADRs in the United States. This measure, originally announced on January 15, 2025, was initially set to remain in effect until July 10, 2025. With the extension, it will now remain valid through December 31, 2025. Given the positive reception of this initiative in the market, Ecopetrol has worked to ensure its continuation in order to support the interests of its investors. For more information, please refer to the following link ----------------------------------------- Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, and the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice. This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. For more information, please contact: Head of Corporate Communications Angela Maria De la Pava Londoño Email: investors@ecopetrol.com.co Head of Press Juan Pablo Pacavita Email: juan.pacavita@ecopetrol.com.co View original content to download multimedia:https://www.prnewswire.com/news-releases/ecopetrol-extends-temporary-50-fee-reduction-agreement-for-adr-conversion-in-the-united-states-302493603.html SOURCE Ecopetrol S.A.
Pomerantz Law Firm Announces the Filing of a Class Action Against Civitas Resources, Inc. and Certain Officers - CIVI
Pomerantz Law Firm Announces the Filing of a Class Action Against Civitas Resources, Inc. and Certain Officers - CIVI NEW YORK, June 27, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Civitas Resources, Inc. ("Civitas" or the "Company") (NYSE: CIVI) and certain officers. The class action, filed in the United States District Court for the District of New Jersey, and docketed under 25-cv- 03791, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Civitas securities between February 27, 2024 and February 24, 2025, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. If you are an investor who purchased or otherwise acquired Civitas securities during the Class Period, you have until July 1, 2025 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] Civitas is an independent exploration and production company focused on the acquisition, development and production of crude oil and liquids-rich natural gas from its assets in the Denver-Julesburg ("DJ") Basin in Colorado and the Permian Basin in Texas and New Mexico. As of December 31, 2024, the Company owned a working interest in a net total of 530,200 acres. Civitas recognizes revenue from the sale of produced crude oil, natural gas, and natural gas liquids. Accordingly, maintaining high volumes of oil production is critical to the Company's ability to achieve revenue growth. Throughout 2024, Civitas maintained steady oil production and accelerated the number of the Company's turned-in-lines ("TILs")-i.e., newly drilled oil wells that have been designated as operational and added to the total number of wells in which Civitas owns a working interest-between the DJ and Permian Basins. However, unbeknownst to investors, oil production in the DJ Basin peaked in the fourth quarter of 2024 and, during the same period, Civitas began reducing the pace in which it turned in new lines. The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, inter alia, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (ii) increasing its oil production would require the Company to acquire additional acreage and development locations, thereby incurring significant debt and causing the Company to sell corporate assets to offset its acquisition costs; (iii) the Company's financial condition would require it to implement disruptive cost-reduction measures including a significant workforce reduction; (iv) accordingly, Civitas's business and/or financial prospects, as well as its operational capabilities, were overstated; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times. On February 24, 2025, Civitas announced its financial results for the fourth quarter and full year 2024. Among other items, the Company reported revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. In addition, Civitas reported net income of $151.1 million, or $1.57 per share, compared with $302.9 million, or $3.23 per share, in the year-ago quarter, and interest expense-the cost incurred by an entity for borrowed funds-of $456.3 million for the year. That same day, Civitas issued a press release detailing the Company's 2025 outlook, which Civitas claimed was "designed to maximize free cash flow." The press release listed several 2025 outlook highlights, including "[d]elivering oil production between 150 and 155 thousand barrels per day ('MBbl/d') on average,"-a year-over-year decline of approximately 4%-"[e]xpanding [its] Permian Basin position with a $300 million bolt-on transaction that adds 19,000 net acres and approximately 130 future development locations in the Midland Basin," and "[e]xecuting on [a] new divestment target of $300 million" meant to offset the foregoing transaction. Further, the press release stated, in relevant part, that "[f]irst quarter [2025] oil volumes are expected to be the low point for the year, averaging 140 to 145 MBbl/d, mostly as a result of few TILs in late 2024 and early 2025." The Company explained that "[a]s compared to the fourth quarter of 2024, lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter, a low TIL count exiting 2024 and in the first quarter of 2025," as well as severe winter weather and unplanned third-party processing downtime in the first quarter. In addition, Civitas announced a 10% reduction in its workforce across all levels, purportedly to "solidify the Company's low-cost structure." Finally, in a filing on Form 8-K with the United States Securities and Exchange Commission, Civitas also announced the termination of its Chief Operating Officer ("COO") Hodge Walker, who had occupied the role for only 22 months, and Chief Transformation Officer Jerome Kelly, effective immediately. Market analysts were quick to comment on the Company's announcements, expressing particular concern about Civitas's reduced 2025 oil production guidance. For example, on February 24, 2025, the investment bank KeyBanc Capital Markets ("KeyBanc") downgraded Civitas to Sector Perform from Outperform, stating that it was "confused and disappointed" by the results and the "tepid" 2025 outlook, and finding it prudent to "wait for more clarity on operations [and] the balance sheet[.]" Further, KeyBanc noted that it was "anticipating news of inorganic debt reduction, likely in the form of a meaningful sale of DJ Basin assets, [but] news of another round of $300M of asset sales does not move the needle for a company with over $5B of debt (pro forma for 1Q25 transactions)." KeyBanc also stated that it was concerned by the Company's interest expense guidance and that the decision to buy Midland Basin acreage suggests Civitas "faces inventory depth concerns in the Permian Basin that are forcing its hand to backfill inventory amid a scarcity of available assets." Finally, in addition to balance sheet concerns, KeyBanc took issue with management's lack of clarity regarding the "fate of the DJ Basin," and stated that it had "less confidence and more questions about operations, given the updates [. . .] If drilling economics are as good as management claims, why let oil decline 5% (ex-acquisition) in a $70/[barrel of crude oil ('bbl') West Texas Intermediate ('WTI')] world? Why did management choose to have zero 4Q24 TILs, creating this significant production decline in 1Q25? How do these factors tie into the abrupt departure of a COO who had been in the role less than two years?" On this news, Civitas's stock price fell $8.95 per share, or 18.15%, to close at $40.35 per share on February 25, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes. View original content to download multimedia:https://www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-civitas-resources-inc-and-certain-officers--civi-302491776.html SOURCE Pomerantz LLP
Aemetis Biogas Receives CARB Approval for Seven RNG Pathways
Aemetis Biogas Receives CARB Approval for Seven RNG Pathways CUPERTINO, Calif., June 27, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas (RNG) and renewable fuels company, announced today that the California Air Resources Board (CARB) has approved provisional pathways under the Low Carbon Fuel Standard (LCFS) for seven dairy digesters built and operated by Aemetis Biogas, a subsidiary of the Company. The pathway approvals are effective as of January 1, 2025. The average carbon intensity for the seven approved pathways is -384, with carbon intensities ranging from -327 to -419. "The approval of seven LCFS pathways increases the number of LCFS credits generated by these digesters by approximately 100%," stated Eric McAfee, Chairman and CEO of Aemetis. "With eleven operating digesters and a four-dairy cluster digester currently being completed, we have additional pathway filings in process that we expect will be approved more quickly than these initial pathways once the LCFS regulatory amendments are adopted this year." With the LCFS first quarter reporting deadline of June 30, 2025, the January 1, 2025, effective date of the new pathways enables Aemetis to immediately obtain the increased LCFS credit quantity for its RNG produced in the first quarter of 2025. Aemetis renewable energy and energy efficiency projects include the construction of new dairy digesters expected to generate more than 1 million MMBtu per year of renewable natural gas; the Keyes ethanol plant mechanical vapor recompression system that is expected to generate $32 million of increased annual cash flow starting in 2026; the Riverbank carbon sequestration project to inject 1.4 million tons per year of CO2 per year underground; and the 78 million gallon per year sustainable aviation fuel and renewable diesel plant that has already received Authority To Construct air permits and other key approvals. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California that will use renewable hydrogen and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com. Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "showing signs," "targets," "view," "will likely result," "will continue" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws. Company Investor RelationsMedia Contact:Todd Waltz(408) 213-0940investors@aemetis.com External Investor RelationsContact:Kirin SmithPCG Advisory Group(646) 863-6519ksmith@pcgadvisory.com
NOV Announces Second Quarter 2025 Earnings Conference Call
NOV Announces Second Quarter 2025 Earnings Conference Call HOUSTON, June 27, 2025 (GLOBE NEWSWIRE) -- NOV Inc. (NYSE: NOV) will hold a conference call to discuss its second quarter 2025 results on Tuesday, July 29, 2025, at 10 a.m. (Central Time). NOV will issue a press release with the Company's results after the market closes for trading on Monday, July 28, 2025. The call will be webcast live on www.nov.com/investors. About NOVNOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV's deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world. Visit www.nov.com for more information. View source version on globenewswire.com: https://www.globenewswire.com/NewsRoom/ReleaseNg/7021003 Source: NOV Inc. CONTACT: Amie D'AmbrosioDirector, Investor Relations(713) 375-3826amie.dambrosio@nov.com
TOP Ships Announces Approval of Listing on the Nasdaq Capital Market for Spin-Off of Rubico Inc.
TOP Ships Announces Approval of Listing on the Nasdaq Capital Market for Spin-Off of Rubico Inc. ATHENS, Greece, June 26, 2025 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the "Company" or "TOP Ships") (NYSE American: TOPS), an international owner and operator of modern, fuel-efficient "ECO" tanker vessels, announced today that the application of Rubico Inc. ("Rubico"), to list its common shares on the Nasdaq Capital Market has been approved. In addition, the registration statement on Form 20-F filed by Rubico in connection with its spin-off from Top Ships Inc has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). The distribution of Rubico common shares to securityholders of TOP Ships is expected to be made within July 2025. TOP Ships will announce the distribution date via a future press release. Rubico common shares are expected to commence trading on a standalone basis on the Nasdaq Capital Market on the first trading day after the date of distribution, under the ticker "RUBI". As previously announced, TOP Ships intends through Rubico to effect a spin-off of two of its vessels, the M/T Eco Malibu and M/T Eco West Coast, each a modern, high specification, scrubber-fitted and fuel-efficient 157,000 dwt Suezmax tanker. As part of the spin-off transaction, TOP Ships intends to distribute 100% of the common shares of Rubico pro rata to its securityholders of record as of June 16, 2025. Rubico has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 with the SEC, which includes a more detailed description of the terms of the spin-off. A copy of the registration statement on Form 20-F is available at www.sec.gov. About TOP Ships Inc. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc., visit its website: www.topships.org. Cautionary Note Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the proposed spin-off and the prospects and strategies of TOP Ships and Rubico following the spin-off, the valuation of the shares of Rubico and TOP Ships following the spin-off, and the listing of Rubico's common shares on the Nasdaq Capital Market. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending," and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, our management's examination of historical operating trends, data contained in our records, and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forwardâlooking statements as a result of developments occurring after the date of this communication. For further information please contact: Alexandros TsirikosChief Financial OfficerTOP Ships Inc.Tel: +30 210 812 8107Email: atsirikos@topships.org
SM ENERGY DECLARES QUARTERLY CASH DIVIDEND
SM ENERGY DECLARES QUARTERLY CASH DIVIDEND DENVER, June 26, 2025 /PRNewswire/ -- SM Energy Company (NYSE: SM) today announces that its Board of Directors approved the quarterly cash dividend of $0.20 per share of common stock outstanding. The dividend will be paid on August 4, 2025, to stockholders of record as of the close of business on July 18, 2025. ABOUT THE COMPANY SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in the states of Texas and Utah. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com. SM ENERGY INVESTOR CONTACT Pat Lytle, plytle@sm-energy.com, 303-864-2502 View original content to download multimedia:https://www.prnewswire.com/news-releases/sm-energy-declares-quarterly-cash-dividend-302492412.html SOURCE SM Energy Company
Diamondback Energy, Inc. Schedules Second Quarter 2025 Conference Call for August 5, 2025
Diamondback Energy, Inc. Schedules Second Quarter 2025 Conference Call for August 5, 2025 MIDLAND, Texas, June 26, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback"), today announced that it plans to release second quarter 2025 financial results on August 4, 2025 after the market closes. In connection with the earnings release, Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the second quarter of 2025 on Tuesday, August 5, 2025 at 8:00 a.m. CT. Access to the live webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback's website at www.diamondbackenergy.com under the "Investor Relations" section of the site. About Diamondback Energy, Inc. Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com. Investor Contact:Adam Lawlis+1 432.221.7467alawlis@diamondbackenergy.com
Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Schedules Second Quarter 2025 Conference Call for August 5, 2025
Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Schedules Second Quarter 2025 Conference Call for August 5, 2025 MIDLAND, Texas, June 26, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ: VNOM) ("Viper"), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback"), today announced that it plans to release second quarter 2025 financial results on August 4, 2025 after the market closes. In connection with the earnings release, Viper will host a conference call and webcast for investors and analysts to discuss its results for the second quarter of 2025 on Tuesday, August 5, 2025 at 10:00 a.m. CT. Access to the live webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Viper's website at www.viperenergy.com under the "Investor Relations" section of the site. About Viper Energy, Inc. Viper is an oil and gas company formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on oil-weighted basins, primarily the Permian Basin in West Texas. For more information, please visit www.viperenergy.com. About Diamondback Energy, Inc. Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com. Investor Contact:Chip Seale+1 432.247.6218cseale@viperenergy.com
ConocoPhillips to Hold Second-Quarter Earnings Conference Call on Thursday, Aug. 7
ConocoPhillips to Hold Second-Quarter Earnings Conference Call on Thursday, Aug. 7 HOUSTON, Jun. 26 /BusinessWire/ -- ConocoPhillips (NYSE:COP) will host a conference call webcast on Thursday, Aug. 7, 2025, at 12:00 p.m. Eastern time to discuss second-quarter 2025 financial and operating results. The company's financial and operating results will be released before the market opens on Aug. 7. To access the webcast, visit ConocoPhillips' Investor Relations site, www.conocophillips.com/investor, and click on the "Register" link in the Investor Presentations section. You should register at least 15 minutes prior to the start of the webcast. The event will be archived and available for replay later the same day, with a transcript available the following day. --- # # # --- About ConocoPhillips As a leading global exploration and production company, ConocoPhillips is uniquely equipped to deliver reliable, responsibly produced oil and gas. Our deep, durable and diverse portfolio is built to meet growing global energy demands. Together with our high-performing operations and continuously advancing technology, we are well positioned to deliver strong, consistent financial results, now and for decades to come. Visit us at www.conocophillips.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250626408472/en/ back
HF Sinclair Corporation Announces Dual Listing On NYSE Texas
HF Sinclair Corporation Announces Dual Listing On NYSE Texas DALLAS, Jun. 25 /BusinessWire/ -- HF Sinclair Corporation (NYSE:DINO) ("HF Sinclair") today announced the dual listing of its common stock on NYSE Texas, the newly launched fully electronic equities exchange headquartered in Dallas, Texas. HF Sinclair will maintain its primary listing on the New York Stock Exchange (NYSE) and continue to trade under the same ticker symbol, "DINO," on the NYSE and NYSE Texas. "We are pleased to join NYSE Texas as a Founding Member," said HF Sinclair's Chief Executive Officer, Tim Go. "This dual listing demonstrates our support for business-friendly principles and the growing capital markets infrastructure in the state of Texas." "As a leader in the energy industry based in Dallas, we're honored to welcome HF Sinclair to our community of NYSE Texas Founding Members," said Chris Taylor, Chief Development Officer, NYSE Group. About HF Sinclair Corporation: HF Sinclair Corporation, headquartered in Dallas, Texas, is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and lubricants and specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah. HF Sinclair provides petroleum product and crude oil transportation, terminalling, storage and throughput services to its refineries and the petroleum industry. HF Sinclair markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states and supplies high-quality fuels to more than 1,600 branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country. HF Sinclair produces renewable diesel at two of its facilities in Wyoming and also at its facility in Artesia, New Mexico. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries. View source version on businesswire.com: https://www.businesswire.com/news/home/20250625013735/en/ back
Cheniere Partners Announces Pricing of $1.0 Billion Senior Notes due 2035
Cheniere Partners Announces Pricing of $1.0 Billion Senior Notes due 2035 HOUSTON, Jun. 25 /BusinessWire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE:CQP) announced today that it has priced its previously announced offering of Senior Notes due 2035 (the "CQP 2035 Notes"). The CQP 2035 Notes will bear interest at a rate of 5.550% per annum and will mature on October 30, 2035. The CQP 2035 Notes will be issued at a price equal to 99.731% of par. The closing of the offering is expected to occur on July 10, 2025. Cheniere Partners intends to contribute the proceeds from the offering to its subsidiary, Sabine Pass Liquefaction, LLC, to be used to redeem a portion of the outstanding aggregate principal amount of its senior secured notes due 2026 (the "SPL 2026 Notes"). This press release does not constitute an offer to purchase or a solicitation of an offer to sell the SPL 2026 Notes or a notice of redemption under the indenture governing the SPL 2026 Notes. The CQP 2035 Notes will rank pari passu in right of payment with the existing senior notes at Cheniere Partners, including the senior notes due 2029, the senior notes due 2031, the senior notes due 2032, the senior notes due 2033 and the senior notes due 2034. The offer of the CQP 2035 Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and the CQP 2035 Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Forward-Looking Statements This press release contains certain statements that may include "forward-looking statements." All statements, other than statements of historical or present facts or conditions, included herein are "forward-looking statements." Included among "forward-looking statements" are, among other things, (i) statements regarding Cheniere Partners' financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding Cheniere Partners' anticipated quarterly distributions and ability to make quarterly distributions at the base amount or any amount, (iii) statements regarding regulatory authorization and approval expectations, (iv) statements expressing beliefs and expectations regarding the development of Cheniere Partners' LNG terminal and liquefaction business, (v) statements regarding the business operations and prospects of third-parties, (vi) statements regarding potential financing arrangements, (vii) statements regarding future discussions and entry into contracts, and (viii) statements relating to our goals, commitments and strategies in relation to environmental matters. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners' actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners' periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20250625105628/en/ back
Devon Energy Schedules Second-Quarter 2025 Earnings Release and Conference Call
Devon Energy Schedules Second-Quarter 2025 Earnings Release and Conference Call OKLAHOMA CITY, June 25, 2025 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced it will report second-quarter 2025 results on Tuesday, August 5, after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2025 results will be available on the company's website at www.devonenergy.com. On Wednesday, August 6, the company will hold a conference call at 10 a.m. CDT (11 a.m. EDT), which will consist primarily of answers to questions from analysts and investors. A webcast link to the conference call will be provided on Devon's website at www.devonenergy.com. A replay will be available on the website following the call. ABOUT DEVON ENERGY Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon's disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
Woodside Completes Louisiana LNG Sell-Down to Stonepeak
Woodside Completes Louisiana LNG Sell-Down to Stonepeak HOUSTON, Jun. 24 /BusinessWire/ -- Woodside is pleased to announce the completion of the sell-down of a 40% interest in Louisiana LNG Infrastructure LLC to Stonepeak, a leading global investment firm specialising in infrastructure and real assets. The completion follows Woodside's announcement on 7 April 2025 that it had signed an agreement with Stonepeak, enhancing Louisiana LNG economics and strengthening Woodside's near-term capacity for shareholder returns.1 Under the transaction, Stonepeak will provide US$5.7 billion towards the expected capital expenditure for the foundation development of Louisiana LNG on an accelerated basis, contributing 75% of project capital expenditure in both 2025 and 2026. The closing payment of approximately US$1.9 billion received by Woodside reflects Stonepeak's 75% share of capex funding incurred since the effective date of 1 January 2025. Woodside CEO Meg O'Neill said Stonepeak would add further value to the Louisiana LNG Project. "Our partnership with Stonepeak reflects the attractiveness of Louisiana LNG and was a key milestone towards achieving a successful final investment decision. Stonepeak is a high-quality partner, with extensive investment experience across US gas and LNG infrastructure. "The accelerated capital contribution from Stonepeak enhances Louisiana LNG project returns and strengthens our capacity for shareholder returns ahead of first cargo from the Scarborough Energy Project in Western Australia, targeted for the second half of 2026. "We continue to see strong interest from additional potential partners in Louisiana LNG." Stonepeak Senior Managing Director and Head of US Private Equity James Wyper said the company was pleased to be working with Woodside. "Louisiana LNG will be a timely and strategic addition to the US LNG export landscape as the world's demand for cleaner, more flexible and more affordable energy continues to grow. "We look forward to contributing our expertise and capital to the construction and future operation of Louisiana LNG and are highly energised to continue supporting the development of critical North American LNG infrastructure with global impact." About Stonepeak Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately US$73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, DC, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. About Louisiana LNG Louisiana LNG is a fully permitted LNG project located near Lake Charles, Louisiana, with total permitted capacity of 27.6 million tonnes per annum (Mtpa) across five trains. The approved foundation project includes three trains with a combined capacity of 16.5 Mtpa and achieved a successful final investment decision in April 2025. Bechtel is the engineering, procurement and construction contractor, under a lump sum, turnkey agreement. The facility utilises the Chart IPSMR® liquefaction technology and Baker Hughes LM6000PF+ gas turbines. This announcement was approved and authorised for release by Woodside's Disclosure Committee. Forward-looking statements This announcement contains forward-looking statements with respect to Woodside's business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding the transaction (including statements concerning the expected benefits of the transaction and other future arrangements between the parties) expectations regarding future expenditures and future results of projects. All forward-looking statements contained in this announcement reflect Woodside's views held as at the date of this announcement. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as 'guidance', 'foresee', 'likely', 'potential', 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions. Forward-looking statements in this announcement are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of aspirational targets that Woodside has set for itself and its management of the business. Those statements and any assumptions on which they are based are only opinions, are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Details of the key risks relating to Woodside and its business can be found in the "Risk" section of Woodside's most recent Annual Report released to the Australian Securities Exchange and Woodside's most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this announcement. Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. All information included in this announcement, including any forward-looking statements, speak only as of the date of this announcement and, except as required by law or regulation, Woodside does not undertake to update or revise any information or forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise. Other important information All references to dollars, cents or $ in this announcement are to US currency, unless otherwise stated. References to "Woodside" may be references to Woodside Energy Group Ltd and/or its applicable subsidiaries (as the context requires). 1 See "Woodside announces Louisiana LNG partnership with Stonepeak" announced on 7 April 2025 for details. View source version on businesswire.com: https://www.businesswire.com/news/home/20250624819158/en/ back
Flex LNG - Announces Long-term Incentive Plan
Flex LNG - Announces Long-term Incentive Plan HAMILTON, Bermuda, June 24, 2025 /PRNewswire/ -- The Board of Directors of Flex LNG Ltd ("Flex LNG" or the "Company") has approved a long-term incentive plan (the "LTIP") and hereby announces that up to 187,142 synthetic options have today been granted to management and employees of the Company. The synthetic options will have a five-year term expiring June 24, 2030, and will vest over a three-year vesting period as follows: * 1/3 of the synthetic options will vest on June 24, 2026 * 1/3 of the synthetic options will vest on June 24, 2027 * 1/3 of the synthetic options will vest on June 24, 2028 The exercise price of the synthetic options is USD 23.75. The exercise price will further be adjusted for any distribution of dividends made before the relevant synthetic options are exercised. The synthetic options granted to the CEO and the CFO are subject to a cap on maximum annual gain equal to two times the annual base salary at the time of exercise of the synthetic options. The synthetic options will be settled in cash based on the difference between the market price of the Company's shares and the exercise price on the date of exercise. The synthetic options have been granted according to the rules of the Company's synthetic option scheme approved by the Board of Directors of the Company. Please see the attached forms of notification of transactions by primary insiders for the granting of the synthetic options. This information is subject to the disclosure requirements pursuant to article 19 of Regulation EU 596/2014 (MAR) and section 5-12 of the Norwegian Securities Trading Act. The Board of Directors Flex LNG Ltd This information was brought to you by Cision http://news.cision.com https://news.cision.com/flex-lng/r/flex-lng---announces-long-term-incentive-plan,c4168212 The following files are available for download: https://mb.cision.com/Main/22886/4168212/3521393.pdf PDMR transactions View original content:https://www.prnewswire.com/news-releases/flex-lng--announces-long-term-incentive-plan-302489859.html SOURCE Flex LNG
Houston American Energy Corp. Announces $1.2 Million Registered Direct Offering
Houston American Energy Corp. Announces $1.2 Million Registered Direct Offering HOUSTON, TX, June 24, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) (the "Company") today announced that it has entered into a definitive agreement with an institutional investor (the "SPA") for the purchase and sale of an aggregate of 81,629 shares of common stock at a purchase price of $14.80 per share in a registered direct offering (the "Offering"). The aggregate gross proceeds to the Company of this offering are expected to be approximately $1.2 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds of approximately $1 million from the offering for general corporate purposes. The transaction is expected to close on or about June 25, 2025, subject to the satisfaction of customary closing conditions. The registered direct offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-282778) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission ("SEC") on November 4, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888. Placement Agent Agreement On June 24, 2025, in conjunction with the SPA, the Company entered into a Placement Agency Agreement (the "Placement Agency Agreement") with Univest Securities, LLC to act as the sole placement agent (the "Placement Agent") in connection with the Offering. Pursuant to the Placement Agency Agreement, the Placement Agent is entitled to a fee equal to an aggregate of 8.0% of the proceeds received by the Company in the Offering and reimbursement of the Placement's reasonable travel and other out-of-pocket expenses, including reasonable fees, costs and disbursement to its legal counsel, in an amount not to exceed an aggregate of $10,000. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus will be filed by the Company and, upon filing, can be obtained at the SEC's website at www.sec.gov. Cautionary Note Regarding Forward-Looking Information: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes, but is not limited to, statements about the gross proceeds to the Company from the offering and the anticipated closing of the offering. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing our business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. For additional information, view the company's website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.
Ring Energy Selects Veriforce® as Exclusive Contractor Management Partner to Streamline Safety and Compliance Operations
Ring Energy Selects Veriforce® as Exclusive Contractor Management Partner to Streamline Safety and Compliance Operations Veriforce® brings end-to-end contractor management, safety verification, and workforce training support to leading independent oil and gas producer THE WOODLANDS, Texas, June 24, 2025 /PRNewswire/ -- Veriforce, the largest global provider of contractor management and workforce qualification solutions, announced today that Ring Energy Inc., a rapidly growing oil and gas exploration and production company, has selected Veriforce as its exclusive contractor management provider. Through this partnership, Veriforce will support Ring Energy in simplifying its contractor oversight processes and elevating its safety and compliance capabilities amid recent growth. "Over the last few years, Ring Energy has expanded significantly, and so has our network of contractors," said Chris Gafford, HSE Manager for Ring Energy. "It was becoming challenging to handle contractor management internally. We needed a partner with the tools and expertise to help us scale safely, and that's why we chose Veriforce." Through Veriforce, Ring Energy gains a centralized solution to manage its entire contractor base efficiently. In addition to core compliance management capabilities, Ring is leveraging Veriforce's expert-led workforce training, including SafeLand and Hydrogen Sulfide (H2S) awareness courses, to ensure contractors meet critical safety training requirements before stepping on site. "Our goal was to free up time with our field and office personnel, improving how we verify contractor insurance and MSAs," Chris added. "More importantly, we needed a better way to understand how our contractors are handling safety. Veriforce provides that insight." "Ring Energy's commitment to building a scalable and safety-focused contractor program aligns perfectly with Veriforce's mission to empower high-performing, risk-ready operations across the energy sector," said Carlos Ramon, VP, US and Global at Veriforce. "We're proud to support their growth and provide the tools they need to operate more efficiently and with greater confidence in their contractor network." For more information on Veriforce's contractor management solutions and safety training programs, visit veriforce.com About Ring Energy, Inc. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit https://www.ringenergy.com. About Veriforce Veriforce® is a global leader in contractor management, helping companies build safe, qualified, and compliant workforces. Through our integrated SaaS platform we combine contractor qualification, training, evaluation, and compliance tracking to reduce risk and improve workforce performance across industries. With a network spanning over 3,200 hiring companies in 140+ countries and supporting more than 130,000 contractors and millions of workers, Veriforce connects organizations with trusted third-party labor to get the job done safely and efficiently. We also support a robust community of over 7,000 authorized instructors and evaluators. Veriforce is the partner of choice for companies committed to ensuring workforce readiness and safety. We operate globally with offices in the U.S., Canada, South Africa, the U.K., and Australia. For more information, visit www.veriforce.com. Media contact:Emma Keates, Senior Director PR & CommunicationsEmma.keates@veriforce.com+44 7769671378 Photo: https://mma.prnewswire.com/media/2713911/Veriforce.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/ring-energy-selects-veriforce-as-exclusive-contractor-management-partner-to-streamline-safety-and-compliance-operations-302486435.html SOURCE Veriforce
One Equity Partners Agrees to Sell BRUSH Group's Power Distribution Business
One Equity Partners Agrees to Sell BRUSH Group's Power Distribution Business NEW YORK, Jun. 24 /BusinessWire/ -- One Equity Partners ("OEP"), a middle market private equity firm, announced that it has entered into a definitive agreement to sell the Power Distribution business of BRUSH Group ("BRUSH" or the "Company"). Financial terms of the private transaction were not disclosed. OEP previously sold BRUSH's Power Generation business to Baker Hughes (NASDAQ:BKR) in October 2022, one year after OEP's carve-out of BRUSH from Melrose Industries was completed. Founded in 1889 and headquartered in Loughborough, United Kingdom, BRUSH provides OEM design and assembly and aftermarket parts and services for electrical power generation and distribution equipment. BRUSH's products are used across a wide range of end markets, including utilities, industrial, rail, data centers and renewable applications. At the time of OEP's initial investment, the Company operated two divisions, Power Generation and Power Distribution. The Power Generation business designs, assembles, and services large scale generators that provide primary and standby electrical power to utility, datacenter and industrial customers worldwide. The Power Distribution business designs, assembles and services switchgear, transformers and controls for electric power distribution for utilities, electric vehicles, data centers, high speed rail, and other industrial applications mainly throughout the UK. OEP exited the Power Generation business one year after completing the carve-out of BRUSH and subsequently establishing its Power Networks division while growing the remaining sub-scale Power Distribution business into a platform of scale. "OEP's investment in BRUSH showcases our expertise in carve-out transactions and is a great example of how we effectively grow and improve businesses through our M&A focused strategy," said Steve Lunau, Partner at One Equity Partners. "OEP carved out a non-core business unit of a larger parent company, and in close partnership with management, helped the business become a strong standalone company, well-positioned for strategic M&A driven growth." "BRUSH is another example of OEP's value creation strategy" said Ori Birnboim, Partner at One Equity Partners. "After the strategic sale of Power Generation, we remained focused on growing the Power Distribution & Networks businesses, making BRUSH a leading electrical solutions and engineered products provider to United Kingdom's critical infrastructure." Under OEP's four-year ownership period, BRUSH more than doubled EBITDA. BRUSH completed seven accretive acquisitions during OEP's hold period, expanding the Power Generation, Power Distribution and Power Networks divisions and enhancing the overall footprint and capabilities of the Company. OEP and management also executed several operational excellence initiatives including initiatives to stand-up the business as an independent company, driving margin expansion, establishing Power Networks and growing the Power Distribution business following the sale of Power Generation. "We are proud of BRUSH's transformation under OEP's ownership. Our partnership with OEP helped us unlock significant strategic value across three great business units over the last four years," said Nicolas Pitrat, CEO of BRUSH. "OEP was an excellent partner that brought significant expertise in the energy sector, sourcing and execution of transformational M&A, and building the Company as a scaled platform for growth, all of which are key to BRUSH's evolution." About One Equity Partners One Equity Partners ("OEP") is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250623236866/en/ back