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EnerCom Announces Premier Networking Events at the 30th Annual EnerCom Denver - The Energy Investment Conference, Including Charity Golf, Monday Cocktail Mixer, and Casino Night
EnerCom Announces Premier Networking Events at the 30th Annual EnerCom Denver - The Energy Investment Conference, Including Charity Golf, Monday Cocktail Mixer, and Casino Night Join us as we celebrate three decades of bringing together the energy industry's companies, investors, analysts, and industry leaders! Investors are encouraged to register for EnerCom Denver - The Energy Investment Conference, featuring a broad group of public and private energy companies at www.enercomdenver.com Limited presentation opportunities are available for E&P, Midstream, OFS, Energy Transition and Emerging Technology companies Sponsorship opportunities are available for companies seeking to increase marketplace and brand awareness through EnerCom's multi-channel approach before, during, and after the event DENVER, May 21, 2025 /PRNewswire/ -- EnerCom, Inc. is pleased to announce its lineup of unparalleled networking opportunities at the upcoming EnerCom Denver - The Energy Investment Conference to be held August 17-20, 2025, at the Westin Denver Downtown in Denver, Colorado. The conference kicks off with the annual Charity Golf Tournament on Sunday, August 17th. The golf event is sponsored by global sponsor Netherland, Sewell & Associates, Inc., and EnerCom. The tournament is a significant fundraiser for IN! Pathways to Inclusive Higher Education. Participating in the charity golf tournament ($150 donation per golfer) directly contributes to creating inclusive college opportunities in Colorado for students with intellectual disabilities to foster their academic growth, social development, and career advancement. Your participation makes a real difference. The golf tournament will once again be held at the scenic Arrowhead Golf Club in Littleton, Colorado. Held after Day One of presentations, the conference will host its premier Monday Mixer cocktail reception at the Westin Denver Downtown. This valuable opportunity lets attendees enjoy appetizers, drinks, and live music while networking with other conference participants and key representatives from the energy industry. Casino Night follows Day Two of the conference-experience the entertainment, fun, and excitement of playing in a real casino environment with "fun money" (no cash value, for entertainment only) at the poker, blackjack, roulette, and craps tables manned by professional dealers. This year's event will also feature a charity poker tournament. Join us for a night of revelry, music, good food, and drinks. Open to all conference attendees. Please join us after the conference concludes on Wednesday afternoon with a closing cocktail reception as we reflect on the 2025 Conference. Institutional investors, family offices, portfolio managers, financial analysts, CIOs, and other investment community and industry professionals are encouraged to register now. Registration for the conference for qualified investment professionals is free. The four-day conference allows qualified investors access to senior leadership and networking opportunities, including one-on-one meetings with company management teams. Meetings are limited to buy-side principals, portfolio managers, CIOs, and securities analysts. Early registration for all other attendees is $500 until June 30, 2025, for the three-day event. Companies interested in presenting can contact Larry Busnardo at lbusnardo@enercominc.com. Sponsorship opportunities are available by contacting Blanca Andrus at bandrus@enercominc.com. The presenting company lineup as of May 21, 2025, includes: Advantage Energy (TSX: AAVVF)Amplify Energy (NYSE: AMPY)Anschutz ExplorationArmstrong Oil & GasAPA Corp. (NASDAQ: APA) Aureus Energy ServicesBKV (NYSE: BKV)Bayswater Exploration and ProductionBaytex Energy (TSX/NYSE: BTE)Berry Corporation (NASDAQ: BRY)Bison Oil & GasBlackbeard OperatingCanCambria Energy (TSXV: CCEC) Deep Blue WaterDiversified Energy (NYSE: DEC)DNOW (NYSE: DNOW)Drilling Tools International (NASDAQ: DTI)EnerComEni SpA (NYSE: E) EOG Resources (NYSE: EOG) Flotek Industries (NYSE: FTK) Fundare Resources Granite Ridge Resources (NYSE: GRNT) Gran Tierra Energy (TSX/NYSE: GTE) Halo Exploration Hemisphere Energy (TSX: HME; OTCQX: HMENF) Kelt Exploration (TSX: KEL) Kiwetinohk Energy (TSX: KEC) Liberty Energy (NYSE: LBRT) Mach Natural Resources (NYSE: MNR) Meren Energy (TSX: MER)NCS Multistage (NASDAQ: NCSM) New Era Helium (NASDAQ: NEHC) NuVista Energy (TSX: NVA) Oklo (NYSE: OKLO)Parex Resources (TSX: PXT; OTC: PARXF) Precision Drilling (TSX: PD;NYSE: PDS) Prospera Energy (TSX: PEI; OTC GXRFF) Providence Energy ReconAfrica (TSXV: RECO; OTCQX: RECAF) Ring Energy (NYSE: REI) SandRidge Energy (NYSE: SD)Saturn Oil and Gas (TSX: SOIL; OTCQX: OILSF) Select Water Solutions (NYSE: WTTR) SM Energy (NYSE: SM)Solestiss Spartan Delta (TSX: SDE) Surge Energy AmericaTamarack Valley Energy (TSX: TVE)Tenaz Energy (TSX: TNZ)U.S. Energy Development Corp. UpCurve Energy Verde Energy Solutions Vitesse Energy (NYSE: VTS)Whitecap Resources (TSX: WCP)Zephyr Energy (AIM: ZPHR; OTCQB: ZPHRF)Companies continue to be added to the schedule daily. Conference Overview Conference Details: EnerCom Denver offers investment professionals a unique opportunity to network and listen to senior management teams from leading companies across the energy Value Chain, update investors on their operational and financial strategies, and learn how they create value for stakeholders. Conference Dates: August 17-20, 2025. EnerCom will host its annual Charity Golf Tournament on Sunday, August 17th at the scenic Arrowhead Golf Club in Littleton, Colorado. Benefitting IN! Pathways to Inclusive Higher Education, the Golf Tournament requires a $150 charity donation to participate. Formal presentations and meetings will be held Monday, August 18th, through Wednesday, August 20th. Venue: Westin Denver Downtown. Please book rooms under the EnerCom Denver block. We encourage attendees to book their reservations as soon as possible, as rooms may sell out quickly. Who Attends the Conference: Institutional investors, family offices, high-net-worth investors, private equity, research analysts, retail brokers, trust officers, investment and commercial bankers, and energy industry professionals gather in Denver for the conference. Conference Format and Details: The EnerCom Denver conference follows EnerCom's familiar 25-minute presentation format, followed by 50-minute Q&A opportunities in separate breakout rooms, one-on-one meetings, and multiple networking opportunities. In addition to in-person access to all company presentations, panel discussions, and keynote speakers, conference registration allows investors and management teams to meet formally and informally over cocktails, breakfast, and lunch. About EnerCom, Inc.: Founded in 1994, EnerCom, Inc. has been a trusted advisor to the global energy industry, working with clients to differentiate and deliver targeted messages to investors. Headquartered in Denver, EnerCom is an internationally recognized strategic communications and management consultancy that advises companies on investor relations, corporate strategy/board advisory, fractional/interim CFO advisory services, marketing, financial analysis and valuation, media, branding, and visual communications design. For more information about EnerCom and its services, please visit www.enercominc.com or call (303) 296-8834 to speak with one of our consultants. EnerCom Denver Sponsors Include: Netherland, Sewell & Associates, Inc. (NSAI) Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream, and downstream sectors as well as power and renewables. Our team of more than 100 energy lawyers and landmen has been helping operators, lenders, and private equity firms with some of their most complex and significant transactions and disputes in recent years. The firm's nearly 700 lawyers practice across 19 global offices located in California, Colorado, Illinois, New York, North Carolina, Texas, Virginia, Washington, D.C., London, Mexico City, and Shanghai. The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. The U.S. News & World Report and Best Lawyers "Best Law Firms" 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law. haynesboone.com IMA IMA Financial Group is an independent broker, defining the future of insurance through comprehensive and consultative risk and wealth management services. A majority employee-owned and managed company, its 2,300-plus associates in offices across the country are empowered by a shared mission to manage risk, protect assets, and make a difference. www.imacorp.com Petrie Partners Petrie Partners, LLC is a boutique investment banking firm dedicated to the energy industry. The senior leadership has a multi-decade legacy of delivering specialized advice on mergers and acquisitions, asset transactions and valuations, and financings to the boards and managements of public, private, and sovereign entities. Petrie clients benefit from the independent, conflict-free perspective and unwavering advocacy of their best interests that the team brings to every engagement. www.petrie.com Vitesse Energy Vitesse is a Denver-based company focused on returning capital to stockholders through owning and acquiring predominantly non-operated working interests in oil and gas properties in the Williston Basin of North Dakota and Montana. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com Oil & Gas 360® The Media Sponsor of Enercom Denver, Oil & Gas 360® is a one-stop source of news, information, and analysis from the professionals at EnerCom, Inc. The website is dedicated to all things energy: people, technologies, transactions, trends, and macro-economic analysis that impact our industry. Oil & Gas 360 View original content to download multimedia:https://www.prnewswire.com/news-releases/enercom-announces-premier-networking-events-at-the-30th-annual-enercom-denver--the-energy-investment-conference-including-charity-golf-monday-cocktail-mixer-and-casino-night-302462319.html SOURCE EnerCom, Inc.
Civitas Resources, Inc. (CIVI) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
Civitas Resources, Inc. (CIVI) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit LOS ANGELES, May 21, 2025 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Civitas Resources, Inc. ("Civitas" or the "Company") (NYSE: CIVI) have opportunity to lead the securities fraud class action lawsuit. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN CIVITAS RESOURCES, INC. (CIVI), CLICK HERE BEFORE JULY 1, 2025 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. What Is The Lawsuit About? The complaint filed alleges that, between February 27, 2024 and February 24, 2025, Defendants failed to disclose to investors that: (1) 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; (2) 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; (3) the Company's financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; (4) accordingly, Civitas's business and/or financial prospects, as well as its operational capabilities, were overstated; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Contact Us To Participate or Learn More:If you wish to0x202Flearn more0x202Fabout this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.The Law Offices of Frank R. Cruz, Email us at: info@frankcruzlaw.comCall us at: 310-914-5007Visit our website at: www.frankcruzlaw.comFollow us for updates on Twitter: twitter.com/FRC_LAW. If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Visit our website at: www.frankcruzlaw.com View original content to download multimedia:https://www.prnewswire.com/news-releases/civitas-resources-inc-civi-investors-who-lost-money-have-opportunity-to-lead-securities-fraud-lawsuit-302461347.html SOURCE The Law Offices of Frank R. Cruz, Los Angeles
Solaris Energy Infrastructure, Inc. (SEI) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
Solaris Energy Infrastructure, Inc. (SEI) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit BENSALEM, Pa., May 21, 2025 /PRNewswire/ -- The Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Solaris Energy Infrastructure, Inc. ("Solaris" or the "Company") (NYSE: SEI). IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN SOLARIS ENERGY INFRASTRUCTURE, INC. (SEI), CONTACT THE LAW OFFICES OF HOWARD G. SMITH BEFORE MAY 27, 2025 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com. What Is The Lawsuit About? The complaint filed alleges that, between July 9, 2024 and March 17, 2025, Defendants failed to disclose to investors that: (1) MER had little to no corporate history in the mobile turbine leasing space; (2) MER did not have a diversified earnings stream; (3) MER's co-owner was a convicted felon associated with multiple allegations of turbine-related fraud; (4) as a result, Solaris overstated the commercial prospects posed by the Acquisition; (5) Solaris inflated profitability metrics by failing to properly depreciate its turbines; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact: Howard G. Smith, Esq., Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Call us at: (215) 638-4847Email us at: howardsmith@howardsmithlaw.com, Visit our website at: www.howardsmithlaw.com. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contact Us: Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com View original content:https://www.prnewswire.com/news-releases/solaris-energy-infrastructure-inc-sei-investors-who-lost-money-have-opportunity-to-lead-securities-fraud-lawsuit-302461323.html SOURCE Law Offices of Howard G. Smith
Phillips 66 Updates Preliminary Results on Election of Directors
Phillips 66 Updates Preliminary Results on Election of Directors Phillips 66 Shareholders Elect Robert W. Pease and Nigel Hearne Phillips 66 Directors as well as Sigmund L. Cornelius and Michael A. Heim Elliott Director Nominees HOUSTON, May 21 /BusinessWire/ -- Phillips 66 (NYSE:PSX) today updated the preliminary results for the election of directors at its annual meeting of shareholders held on May 21, 2025. Based on estimates by the company's proxy solicitor, shareholders are expected to elect two Phillips 66 nominees and two Elliott Management nominees. Based on the preliminary results, the elected Phillips 66 directors are expected to be Robert W. Pease and Nigel Hearne. The Elliott nominees expected to be elected are Sigmund L. Cornelius and Michael A. Heim. Phillips 66 nominees John E. Lowe and Howard Ungerleider were not elected. "We welcome our new directors and look forward to working constructively as a Board," said Mark Lashier, Chairman and Chief Executive Officer of Phillips 66. "We thank all our shareholders for their engagement through this process and their careful analysis of the issues. This vote reflects a belief in our integrated strategy and a recognition that our early results do not yet reflect the full potential of our plan or the value inherent in this business. As a Board, we are focused on creating meaningful long-term value for our shareholders." Lashier continued, "On behalf of the Board and Company, I would like to thank John for his service with distinction and Howard for his commitment to this process. They each deserve significant appreciation for their terrific service to the company." The company also noted that, based on estimates by the company's proxy solicitor, the management proposal to declassify the Board was not approved by shareholders. While it received significant support, it did not receive the required affirmative vote of the holders of 80% of the outstanding shares of stock entitled to vote. The Board recognizes shareholder preference for annual elections and remains committed to declassification. Shareholders overwhelmingly voted against Elliott's proposal requiring annual director resignations, in line with the Board's recommendation. The results announced today are considered preliminary until final results are tabulated and certified by the independent Inspector of Election. Final results will be reported on a Form 8-K that will be filed with the Securities and Exchange Commission. About Phillips 66 Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn. Cautionary Statement for the Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995 This news release contains forward-looking statements within the meaning of the federal securities laws. Words such as "anticipated," "estimated," "expected," "planned," "scheduled," "targeted," "believe," "continue," "intend," "will," "would," "objective," "goal," "project," "efforts," "strategies," "priorities" and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management's expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum or renewable fuels products pricing, regulation or taxation, including exports; the company's ability to timely obtain or maintain permits, including those necessary for capital projects; fluctuations in NGL, crude oil, refined petroleum products, renewable fuels, renewable feedstocks and natural gas prices, and refined product, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for the company's products; changes to government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; liability resulting from pending or future litigation or other legal proceedings; liability for remedial actions, including removal and reclamation obligations under environmental regulations; unexpected changes in costs or technical requirements for constructing, modifying or operating the company's facilities or transporting its products; the company's ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that it may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected technological or commercial difficulties in manufacturing, refining or transporting the company's products, including chemical products; the level and success of producers' drilling plans and the amount and quality of production volumes around the company's midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; changes in the cost or availability of adequate and reliable transportation for the company's NGL, crude oil, natural gas and refined petroleum or renewable fuels products; failure to complete definitive agreements and feasibility studies for, and to complete construction of, announced and future capital projects on time or within budget; the company's ability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to the company's credit profile or illiquidity or uncertainty in the domestic or international financial markets; damage to the company's facilities due to accidents, weather and climate events, civil unrest, insurrections, political events, terrorism or cyberattacks; domestic and international economic and political developments including armed hostilities, such as the war in Eastern Europe, instability in the financial services and banking sector, excess inflation, expropriation of assets and changes in fiscal policy, including interest rates; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and properties, plants and equipment and/or strategic decisions or other developments with respect to the company's asset portfolio that cause impairment charges; substantial investments required, or reduced demand for products, as a result of existing or future environmental rules and regulations, including greenhouse gas emissions reductions and reduced consumer demand for refined petroleum products; changes in tax, environmental and other laws and regulations (including alternative energy mandates) applicable to the company's business; political and societal concerns about climate change that could result in changes to the company's business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of joint ventures that the company does not control; the potential impact of activist shareholder actions or tactics; and other economic, business, competitive and/or regulatory factors affecting the company's businesses generally as set forth in Phillips 66's filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20250521043200/en/ back
NOV Declares Regular Quarterly Dividend and Supplemental Dividend
NOV Declares Regular Quarterly Dividend and Supplemental Dividend HOUSTON, May 21 /BusinessWire/ -- NOV Inc. (NYSE:NOV) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.075 per share of common stock, payable on June 27, 2025 to each stockholder of record on June 13, 2025. NOV also announced today that its Board of Directors declared a supplemental cash dividend of $0.21 per share of common stock as part of the Company's 2024 return of capital plan. The supplemental dividend is payable on June 13, 2025 to each stockholder of record on June 2, 2025. About NOV NOV 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. Cautionary Statement for the Purpose of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995 Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by NOV with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements. These statements speak only as of the date of this document, and we undertake no obligation to update or revise the statements, except as may be required by law. Visit www.nov.com for more information. View source version on businesswire.com: https://www.businesswire.com/news/home/20250520273795/en/ back
Flex LNG - First Quarter 2025 Earnings Release
Flex LNG - First Quarter 2025 Earnings Release HAMILTON, Bermuda, May 21, 2025 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the three months ended March 31, 2025. Highlights: Vessel operating revenues of $88.4 million for the first quarter 2025, compared to $90.9 million for the fourth quarter 2024.Net income of $18.7 million and basic earnings per share of $0.35 for the first quarter 2025, compared to net income of $45.2 million and basic earnings per share of $0.84 for the fourth quarter 2024.Average Time Charter Equivalent ("TCE") rate of $73,891 per day for the first quarter 2025, compared to $75,319 per day for the fourth quarter 2024.Adjusted EBITDA of $65.6 million for the first quarter 2025, compared to $68.7 million for the fourth quarter 2024.Adjusted net income of $29.4 million for the first quarter 2025, compared to $30.8 million for the fourth quarter 2024.Adjusted basic earnings per share of $0.54 for the first quarter 2025, compared to $0.57 for the fourth quarter 2024.In March 2025, Flex Constellation was re-delivered from the existing time charter contract and was employed in the short-term market, until the commencement of a 15-year time charter contract during the first or second quarter of 2026.In April 2025, the charterer of Flex Artemis elected not to exercise the option under the time charter. The vessel is expected to be re-delivered from the original 5-year variable hire contract in the third quarter of 2025. Following the re-delivery, Flex Artemis will perform her scheduled dry-docking and subsequently will be marketed for short and long-term contracts.In May 2025, we received a credit approved term sheet for a $175.0 million, 10-year sale and leaseback with an Asian-based lease provider for Flex Courageous. The refinancing will repay the outstanding amount relevant to Flex Courageous, under the $330 Million Sale and Leaseback.In May 2025, the Company announces that it has initiated the process of refinancing the vessels Flex Resolute and Flex Constellation, aiming to free up liquidity, reduce the cost of debt and extend the debt maturities. The Company aims to secure commitments and conclude the new financings during the second half of 2025In May 2025, at the 2025 Annual General Meeting of Shareholders (AGM), the Company's shareholders approved the delisting of the Company's common shares from the Oslo Stock Exchange (OSE) and authorised the Board of Directors to take steps to implement the delisting including filing an application to the OSE on behalf of the Company.In May 2025, the Company published its ESG report for 2024, its seventh comprehensive and stand-alone sustainability report, which provides an opportunity to reflect on the Company's ESG journey thus far.The Company declared a dividend for the first quarter 2025 of $0.75 per share. The dividend is payable on or about June 20, 2025 to shareholders, on record as of June 6, 2025.Marius Foss, Interim CEO of Flex LNG Management AS, commented: "Flex LNG delivered solid results for the first quarter, with revenues of $88.4 million, or $86.8 million excluding EUAs. Net income came in at $18.7 million, translating to earnings per share (EPS) of $0.35 and adjusted net income came in at $29.4 million, or $0.54 per share. As expected, revenue decreased by $3 million compared to Q4 2024 primarily due to lower earnings from Flex Artemis, operating on a variable index hire. Additionally, Flex Constellation was redelivered at the end of February and commenced a new spot voyage in late March. Flex Constellation is expected to remain in the spot market until she begins a 15-year time charter in H1 2026. Flex Artemis has been on a 5-year Time Charter and will be redelivered in Q3-2025, after which she will undergo her 5-year special survey drydocking. With her full reliquefaction system, she is highly attractive for charterers on long-term Time Charters. Late last year, we strengthened our earnings foundation by securing up to 37 years of new contract backlog for Flex Constellation, Flex Courageous and Flex Resolute. As a result, our total minimum firm backlog now stands at 59 years, with the potential to expand to 88 years through charterers' extension options. This provides strong earnings visibility going forward. Following these contract additions we see opportunities for attractive refinancings. Today we announce that we have received a credit approved term sheet for a $175m sale and leaseback at very attractive terms for the refinancing of Flex Courageous. We also announce that we have initiated the process of refinancing the Flex Resolute and Flex Constellation, aiming to free up liquidity, reduce cost of debt and extend debt maturities. We see increasing momentum in the US LNG sector, evidenced by Woodside's FID on the Louisiana LNG project. This positive news flow signals a wave of upcoming liquefaction capacity. These new projects are expected to come on stream just as some of our vessels conclude their existing charters, creating an ideal opportunity to re-contract. Today, we are pleased to release our 2024 ESG Report - the seventh edition since our inaugural report in 2018. We are proud to report a Lost Time Injury Frequency (LTIF) of zero, which is a testament to our relentless focus on health and safety. We encourage readers to explore the report to understand our continuous commitment to sustainability. With solid earnings, substantial backlog and our strong balance sheet with $410 million of cash and no debt maturities prior to 2028, the Board is pleased to announce another quarterly dividend per share of $0.75. This is equal to a quarterly dividend pay-out of approximately $41 million. Therefore, we have paid trailing twelve months dividends of $3.0 per share, giving our investors a running yield of about 12 per cent. This is our fifteenth ordinary quarterly dividend of $0.75, and when adding the special dividends we will have paid out approximately $650 million since Q4-2021." First Quarter 2025 Result Presentation In connection with the earnings release, a video webcast will be held at today 15:00 CEST (09:00 a.m. EST). In order to watch the webcast, use the following link: First Quarter 2025 Earnings Presentation A Q&A session will be held after the webcast. Information on how to submit questions will be given at the beginning of the session. The presentation material which will be used in the live video webcast can be downloaded on www.flexlng.com and replay details will also be available at this website. For further information, please contact:Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management ATelephone: +47 23 11 40 00Email: ir@flexlng.com This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 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. 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," "expect," "forecast," "anticipate," "aim," "commit," "estimate," "intend," "plan," "possible," "potential," "pending," "target," "project," "likely," "may," "will," "would," "should," "could" 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, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although management believes 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 the Company's control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. As such, these forward-looking statements are not guarantees of the Company's future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements. The Company undertakes no obligation, and specifically declines any obligation, except as required by applicable law or regulation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the effect of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include: unforeseen liabilities, future capital expenditures, the strength of world economies and currencies, inflationary pressures and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the LNG tanker market, the impact of public health threats, changes in the Company's operating expenses, including bunker prices, drydocking and insurance costs, the fuel efficiency of the Company's vessels, the market for the Company's vessels, availability of financing and refinancing, ability to comply with covenants in such financing arrangements, failure of counterparties to fully perform their contracts with the Company, changes in governmental rules and regulations or actions taken by regulatory authorities, including those that may limit the commercial useful lives of LNG tankers, customers' increasing emphasis on environmental and safety concerns, potential liability from pending or future litigation, global and regional economic and political conditions or developments, armed conflicts, including the war between Russia and Ukraine, as well as the developments in the Middle East, including continued conflicts between Israel and Hamas and the conflict regarding the Houthi attack in the Red Sea, trade wars, tariffs, embargoes and strikes, the impact of restrictions on trade, including the imposition of new tariffs, port fees and other import restrictions by the United States on its trading partners and the imposition of retaliatory tariffs by China and the European Union on the United States, business disruptions, including supply chain disruption and congestion, due to natural or other disasters or otherwise, potential physical disruption of shipping routes due to accidents, climate-related incidents, or political events, potential cybersecurity or other privacy threats and data security breaches, vessel breakdowns and instances of off-hire, and other factors, including those that may be described from time to time in the reports and other documents that the Company files with or furnishes to the U.S. Securities and Exchange Commission ("Other Reports"). For a more complete discussion of certain of these and other risks and uncertainties associated with the Company, please refer to the Other Reports. This information was brought to you by Cision http://news.cision.com https://news.cision.com/flex-lng/r/flex-lng---first-quarter-2025-earnings-release,c4153189 The following files are available for download: https://mb.cision.com/Main/22886/4153189/3460929.pdf Flex LNG - Earnings Release Q1 2025 https://mb.cision.com/Public/22886/4153189/bd8e79afd6ca4d8e.pdf Flex LNG - ESG Report 2024 View original content:https://www.prnewswire.com/news-releases/flex-lng--first-quarter-2025-earnings-release-302461505.html SOURCE Flex LNG
PBF Energy to Participate in Industry Conferences
PBF Energy to Participate in Industry Conferences PARSIPPANY, N.J., May 20, 2025 /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) today announced that members of its management team will participate in the Goldman Sachs Tenth Annual Leveraged Finance Conference on May 28-29, 2025, and the Bank of America Energy and Power Credit Conference on June 4, 2025. Any company presentation materials will be made available on the Investor Relations section of the PBF Energy website at www.pbfenergy.com. About PBF Energy Inc.PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors. PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels. Contacts: Colin Murray (investors) ir@pbfenergy.comTel: 973.455.7578 Michael C. Karlovich (media)mediarelations@pbfenergy.comTel: 973.455.8981 View original content to download multimedia:https://www.prnewswire.com/news-releases/pbf-energy-to-participate-in-industry-conferences-302460827.html SOURCE PBF Energy Inc.
Golar LNG Limited: 2025 AGM Results Notification
Golar LNG Limited: 2025 AGM Results Notification Golar LNG Limited (the "Company") advises that the 2025 Annual General Meeting of the Company was held on May 20, 2024 at 10:00 am (Bermuda time) at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2024 were presented at the Meeting. The following resolutions were passed: To set the maximum number of Directors to be not more than eight. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit. To re-elect Tor Olav Trøim as a Director of the Company. To re-elect Daniel W. Rabun as a Director of the Company. To re-elect Carl E. Steen as a Director of the Company. To re-elect Niels G. Stolt-Nielsen as a Director of the Company.To re-elect Lori Wheeler Naess as a Director of the Company.To elect Benoît de la Fouchardiere as a Director of the Company.To elect Mi Hong Yoon as a Director of the Company.To re-appoint Ernst & Young LLP of London, England as auditors and to authorise the Directors to determine their remuneration.To approve remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$2,000,000.00 for the year ended December 31st, 2025. Golar would like to thank Georgina Sousa and Thorleif Egeli who retired from Golar's Board of Directors today after two decades of combined service to the Company. Their contribution to the governance and transformation of Golar from a shipping company to a pure play FLNG business has been invaluable and we wish them well. Following their election today as Directors, Golar also welcomes Benoît de la Fouchardiere and Mi Hong Yoon to its Board. Both have already contributed to Golar's success - in the case of Benoît, through his part in contracting FLNG Hilli in Cameroon; and in the case of Mi Hong - through her role as Company Secretary. The Company looks forward to benefiting from their relevant and extensive experience as it seeks to grow its leading FLNG offering. Hamilton, BermudaMay 20, 2025 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
MSCI to Change NPK International's GICS Code to Industrials/Capital Goods
MSCI to Change NPK International's GICS Code to Industrials/Capital Goods THE WOODLANDS, Texas, May 20 /BusinessWire/ -- NPK International Inc. (NYSE:NPKI) ("NPK" or the "Company") today announced that MSCI Inc. has confirmed that NPK's Global Industry Classification Standard (GICS®) code will be changing to 20107010 (Industrials/Capital Goods/Trading Companies & Distributors). The new GICS more accurately reflects the Company's position as a leading provider of matting products and services to the global worksite access market. The change will be effective as of the market close on May 30, 2025. "Our new industry classification is important recognition of our successful transformation into a leading, pure-play specialty rental and services business in the global worksite access and critical infrastructure markets," stated Matthew Lanigan, President and CEO of NPK International. "We remain committed to our strategic priorities, which emphasizes the long-term growth of our specialty rental business, and continue to be encouraged by the momentum in our core utilities transmission and critical infrastructure end markets." ABOUT NPK INTERNATIONAL NPK International Inc. is a worksite access solutions company that manufactures, sells, and rents industry-leading sustainable composite matting products, along with a full suite of services, including planning, logistics, and site restoration. As a geographically diversified company, the Company delivers superior quality and reliability across critical infrastructure markets, including electrical transmission & distribution, oil and gas exploration, pipeline, renewable energy, petrochemical, construction, and other industries. For more information, visit our website at www.npki.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250520498043/en/ back
KNOT Offshore Partners LP Earnings Release-Interim Results for the Period Ended March 31, 2025
KNOT Offshore Partners LP Earnings Release-Interim Results for the Period Ended March 31, 2025 ABERDEEN, Scotland, May 20 /BusinessWire/ -- KNOT Offshore Partners LP (NYSE:KNOP): Financial Highlights For the three months ended March 31, 2025 ("Q1 2025"), KNOT Offshore Partners LP ("KNOT Offshore Partners" or the "Partnership"): Generated total revenues of $84.0 million, operating income of $23.4 million and net income of $7.6 million. Generated Adjusted EBITDA1 of $52.2 million. Reported $100.8 million in available liquidity at March 31, 2025, which was comprised of cash and cash equivalents of $67.3 million and undrawn revolving credit facility capacity of $33.5 million. Other Partnership Highlights and Events Fleet operated with 96.9% utilization for scheduled operations in Q1 2025, and 99.5% utilization taking into account the scheduled drydockings of the Raquel Knutsen and the Windsor Knutsen, for which the relevant off-hire periods commenced late in Q1 2025. On April 9, 2025, the Partnership declared a quarterly cash distribution of $0.026 per common unit with respect to Q1 2025, which was paid on May 8, 2025, to all common unitholders of record on April 28, 2025. On the same day, the Partnership declared a quarterly cash distribution to holders of Series A Convertible Preferred Units ("Series A Preferred Units") with respect to Q1 2025 in an aggregate amount of $1.7 million. In January 2025, the final insurance claim payment was received in respect of repair work and loss of hire for the Torill Knutsen, which had arisen from the breakage of a generator rotor in January 2024. On January 21, 2025, Petrorio exercised its option to extend the contract of the Brasil Knutsen for two periods of 30 days from May 1, 2025. Redelivery will be July 1, 2025. The vessel will commence on a new time charter with Equinor in the third quarter of 2025 for a fixed period of two years, with options for the charterer to extend the charter by two further one-year periods. On January 24, 2025, Shell exercised its option to switch from a time charter on the Vigdis Knutsen to a bareboat charter. This change will take effect during or after July 2025. At the same time, the fixed duration of this charter was extended from 2027 to 2030, with an option for the charterer to extend the charter by a further two years. On March 3, 2025, the Partnership's wholly owned subsidiary, KNOT Shuttle Tankers AS ("KST"), acquired from Knutsen NYK Offshore Tankers AS ("Knutsen NYK"), KNOT Shuttle Tankers 27 AS, the company that owns the shuttle tanker Live Knutsen (the "Live Knutsen Acquisition"). Simultaneously, KST sold KNOT Shuttle Tankers 21 AS, the company that owns the shuttle tanker Dan Sabia, to Knutsen NYK. This effected a swap of these two vessels, the terms of which were set out in our press release of February 27, 2025. On March 23, 2025, the Hilda Knutsen began operating under a time charter with Shell for a fixed period of one year. On April 15, 2025, Petrorio extended the redelivery timing for the Brasil Knutsen to September 2025, following which the time charter to Equinor will commence. Derek Lowe, Chief Executive Officer and Chief Financial Officer of KNOT Offshore Partners LP, stated, "We are pleased to report another strong performance in Q1 2025, marked by safe operation at more than 99% fleet utilization from scheduled operations, consistent revenue and operating income generation, and material progress in securing additional charter coverage for our fleet. As of the date of this release and including contractual updates since March 31, 2025, we have now secured approximately 96% of charter coverage for the final three quarters of 2025, and approximately 75% for 2026. Having executed a number of new contracts and extensions over the last year, we have established good momentum in a strengthening market and remain focused on strengthening and extending our fleetwide charter coverage. In Brazil, the main offshore oil market where we operate, the outlook is continuing to improve, with robust demand and increasing charter rates. Driven by Petrobras' continued high production levels and FPSO start-ups in the pre-salt fields that rely upon shuttle tankers, we believe the world's biggest shuttle tanker market is tightening materially. Our secondary geography, in the North Sea, has taken longer to re-balance, but we welcome the news of the new FPSO production starts for both the UK North Sea-based Penguins and Barents Sea-based Johan Castberg. We continue to believe that growth of offshore oil production in shuttle tanker-serviced fields across both Brazil and the North Sea is on track to outpace shuttle tanker supply growth throughout the coming years, driven most notably by the aggressive expansion of Brazilian deepwater production capacity, particularly as increasing numbers of shuttle tankers reach or exceed typical retirement age. We are aware of newbuild shuttle tanker orders, including six for Knutsen NYK, all of which are scheduled for delivery over 2025-2028. We anticipate that all these new orders are backed by charters to clients in Brazil, and see this as a sign of confidence in the medium-to-long term demand for the global shuttle tanker fleet. Particularly when considered in the context of the increasing numbers of shuttle tankers reaching or exceeding typical retirement age, as well as yard capacity constraints limiting material new orders into late 2027 or thereafter, we anticipate that these newbuild deliveries will be readily absorbed by the expanding market for shuttle tankers. As the largest owner and operator of shuttle tankers (together with our sponsor, Knutsen NYK), we believe we are well positioned to benefit from such an improving charter market. We remain focused on generating certainty and stability of cash flows from long-term employment with high-quality counterparties, both through continued chartering and through the consummation of accretive dropdown transactions. We are confident that continued operational performance and the successful execution of our strategy in an improving market environment can increase our cash flow generation, strengthen our forward visibility, and create sustainable unitholder value in the quarters and years ahead." Financial Results Overview Results for Q1 2025 (compared to those for the three months ended December 31, 2024 ("Q4 2024") included: Revenues of $84.0 million in Q1 2025 ($91.3 million in Q4 2024), where Q4 2024 had included one-off insurance proceeds of $5.9 million. Gain from disposal of vessel of $1.3 million in Q1 2025 ($0 in Q4 2024). Vessel operating expenses of $30.6 million in Q1 2025 ($26.2 million in Q4 2024), with the increase due primarily to higher maintenance and provisioning costs and the EU ETS costs. Depreciation of $28.8 million in Q1 2025 ($28.4 million in Q4 2024). General and administrative expenses of $1.8 million in Q1 2025 ($1.5 million in Q4 2024). Operating income consequently of $23.4 million in Q1 2025 ($34.7 million in Q4 2024). Interest expense of $14.9 million in Q1 2025 ($16.2 million in Q4 2024) Realized (i.e. cash) gain on derivative instruments of $3.1 million in Q1 2025 (gain of $3.7 million in Q4 2024), and unrealized (i.e. non-cash) loss of $4.5 million in Q1 2025 (unrealized gain of $0.9 million in Q4 2024). Together, there was a realized and unrealized loss on derivative instruments of $1.3 million in Q1 2025 (gain $4.6 million in Q4 2024). Net income consequently of $7.6 million in Q1 2025 (net income of $23.3 million in Q4 2024). By comparison with the three months ended March 31, 2024 ("Q1 2024"), results for Q1 2025 included: an increase of $3.7 million in operating income (to $23.4 million in Q1 2025 from operating income of $19.7 million in Q1 2024), driven primarily by higher utilization of the fleet, greater charter revenues and gain from disposal of vessel. an increase of $3.2 million in finance expense (to finance expense of $15.3 million in Q1 2025 from finance expense of $12.1 million in Q1 2024), due primarily to an unrealized loss on derivative instruments in Q1 2025 compared to an unrealized gain in Q1 2024. an increase of $0.2 million in net income (to a net income of $7.6 million in Q1 2025 from net income of $7.4 million in Q1 2024). Financing and Liquidity As of March 31, 2025, the Partnership had $100.8 million in available liquidity, which was comprised of cash and cash equivalents of $67.3 million and $33.5 million of capacity under its revolving credit facilities. The Partnership's revolving credit facilities mature between August 2025 and November 2025. The Partnership's total interest-bearing obligations outstanding as of March 31, 2025 were $949 million ($944.3 million net of debt issuance costs). The average margin paid on the Partnership's outstanding debt during Q1 2025 was approximately 2.23% over SOFR. These obligations are repayable as follows: As of March 31, 2025, the Partnership had entered into various interest rate swap agreements for a total notional amount outstanding of $462.3 million, to hedge against the interest rate risks of its variable rate borrowings. As of March 31, 2025, the Partnership receives interest based on SOFR and pays a weighted average interest rate of 2.38% under its interest rate swap agreements, which have an average maturity of approximately 1.53 years. The Partnership does not apply hedge accounting for derivative instruments, and its financial results are impacted by changes in the market value of such financial instruments. As of March 31, 2025, the Partnership's net exposure to floating interest rate fluctuations was approximately $258.6 million based on total interest-bearing contractual obligations of $949 million, less the Raquel Knutsen and Torill Knutsen sale and leaseback facilities of $160.8 million, less interest rate swaps of $462.3 million, and less cash and cash equivalents of $67.3 million. Assets Owned by Knutsen NYK Pursuant to the omnibus agreement the Partnership entered into with Knutsen NYK at the time of its initial public offering, the Partnership has the option to acquire from Knutsen NYK any offshore shuttle tankers that Knutsen NYK acquires or owns that are employed under charters for periods of five or more years. While the Partnership continues to believe that key components of its strategy and value proposition are accretive investment in the fleet and a long-term, sustainable distribution, there can be no assurance that the Partnership will acquire any additional vessels from Knutsen NYK. Given the relationship between the Partnership and Knutsen NYK, any such acquisition would be subject to the approval of the Conflicts Committee of the Partnership's Board of Directors. Knutsen NYK owns, or has ordered, the following vessels and has entered into the following charters: In June 2022, Daqing Knutsen was delivered to Knutsen NYK from the yard in China and commenced on a five-year time charter contract with PetroChina International (America) Inc for operation in Brazil. The charterer has options to extend the charter by up to a further five years. In July 2022, Frida Knutsen was delivered to Knutsen NYK from the yard in Korea and commenced in December 2022 on a seven-year time charter contract with Eni for operation in North Sea. The charterer has options to extend the charter by up to a further three years. In August 2022, Sindre Knutsen was delivered to Knutsen NYK from the yard in Korea and commenced in September 2023 on a five-year time charter contract with Eni for operation in the North Sea. The charterer has options to extend the charter by up to a further five years. In November 2022, Knutsen NYK entered into a new fifteen-year time charter contract with Petrobras for a vessel to be constructed and which will operate in Brazil, where the charterer has an option to extend the charter by up to five further years. The vessel will be built in China and is expected to be delivered in late 2025. In February 2024, Knutsen NYK entered into a new ten-year time charter contract with Petrobras for each of three vessels to be constructed and which will operate in Brazil, where the charterer has an option to extend each charter by up to five further years. The vessels will be built in China and are expected to be delivered over 2026 - 2027. In August 2024, Knutsen NYK entered into a new seven-year time charter contract with Petrorio for a vessel to be constructed and which will operate in Brazil, where the charterer has an option to extend the charter by up to eight further years. The vessel will be built in China and is expected to be delivered early in 2027. In October 2024, Hedda Knutsen was delivered to Knutsen NYK from the yard in China and commenced in December 2024 on a ten-year time charter contract with Petrobras for operation in Brazil. Petrobras has the option to extend the charter by up to five further years. In March 2025, Knutsen NYK entered into a new seven-year time charter contract with Equinor for a vessel to be constructed and which will operate in Brazil, where the charterer has an option to extend the charter by up to thirteen further years. The vessel will be built in China and is expected to be delivered early in 2028. Board of Directors Change Effective April 1, 2025, the Partnership's general partner appointed Mr. Masami Okubo to replace Mr. Yasuhiro Fukuda, both of whom are employees of Nippon Yusen Kabushiki Kaisha ("NYK"), on the Partnership's Board of Directors. Outlook As at March 31, 2025: (i) the Partnership had charters with an average remaining fixed duration of 2.3 years, with the charterers of the Partnership's vessels having options to extend their charters by an additional 4.7 years on average and (ii) the Partnership had $853.8 million of remaining contracted forward revenue, excluding charterers' options and charters agreed or signed after that date. As at March 31, 2025, the eighteen vessels which comprise the Partnership's fleet had an average age of 9.8 years. The market for shuttle tankers in Brazil, where fourteen of our current fleet operated during Q1 2025, has continued to tighten, driven by a significant pipeline of new production growth over the coming years, a limited newbuild order book, and typical long-term project viability requiring a Brent oil price of only $35 per barrel. Shuttle tanker demand in the North Sea has remained subdued for some years, driven by the impact of COVID-19-related project delays. These conditions persisted into recent quarters, awaiting anticipated new oil production starts. Most notably, the long-anticipated Johan Castberg field in the Barents Sea and the new Penguins FPSO in the North Sea entered production recently. Looking ahead, based on supply and demand factors with significant forward visibility and committed capital from industry participants, we believe that the overall medium and long-term outlook for the shuttle tanker market remains favourable. In the meantime, the Partnership intends to pursue long-term visibility from its charter contracts, build its liquidity, pursue accretive dropdown transactions supportive of long-term cash flow generation, and position itself to benefit from its market-leading role in an improving shuttle tanker market. The Partnership continues to believe that key components of its strategy and value proposition are accretive investment in the fleet and a long-term, sustainable distribution. In the near term, the Partnership believes that there are compelling opportunities to deploy a material portion of its cash flow to facilitate dropdown transactions. The Partnership believes that dropdowns will lead to an increase in the Partnership's capital value, with growth in contractual backlog leading to increasing cash flow over time. Together with reductions in the average age of the fleet, this increased cash flow should also facilitate refinancings. Combined with strong market fundamentals, this should provide for the opportunity to increase sustainable distribution levels in the future. About KNOT Offshore Partners LP KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP's common units trade on the New York Stock Exchange under the symbol "KNOP". The Partnership plans to host a conference call on Wednesday May 21, 2025 at 9:30 AM (Eastern Time) to discuss the results for Q1 2025. All unitholders and interested parties are invited to listen to the live conference call by choosing from the following options: By dialing 1-833-470-1428 from the US, dialing 1-833-950-0062 from Canada or 1-404-975-4839 if outside North America - please join the KNOT Offshore Partners LP call using access code 259019. By accessing the webcast on the Partnership's website: www.knotoffshorepartners.com. APPENDIX A-RECONCILIATION OF NON-GAAP FINANCIAL MEASURES EBITDA and Adjusted EBITDA EBITDA is defined as earnings before interest, depreciation, impairments and taxes. Adjusted EBITDA is defined as earnings before interest, depreciation, impairments, taxes and other financial items (including other finance expenses, realized and unrealized gain (loss) on derivative instruments and net gain (loss) on foreign currency transactions). EBITDA is used as a supplemental financial measure by management and external users of financial statements, such as the Partnership's lenders, to assess its financial and operating performance and compliance with the financial covenants and restrictions contained in its financing agreements. Adjusted EBITDA is used as a supplemental financial measure by management and external users of financial statements, such as investors, to assess the Partnership's financial and operating performance. The Partnership believes that EBITDA and Adjusted EBITDA assist its management and investors by increasing the comparability of its performance from period to period and against the performance of other companies in its industry that provide EBITDA and Adjusted EBITDA information. This increased comparability is achieved by excluding the potentially disparate effects between periods or companies of interest, other financial items, taxes, impairments and depreciation, as applicable, which items are affected by various and possibly changing financing methods, capital structure and historical cost basis and which items may significantly affect net income between periods. The Partnership believes that including EBITDA and Adjusted EBITDA as financial measures benefits investors in (a) selecting between investing in the Partnership and other investment alternatives and (b) monitoring the Partnership's ongoing financial and operational strength in assessing whether to continue to hold common units. EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be considered as alternatives to net income or any other indicator of Partnership performance calculated in accordance with GAAP. The table below reconciles EBITDA and Adjusted EBITDA to net income, the most directly comparable GAAP measure. FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking statements concerning future events and KNOT Offshore Partners' operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe," "anticipate," "expect," "estimate," "project," "will be," "will continue," "will likely result," "plan," "intend" or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond KNOT Offshore Partners' control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements include statements with respect to, among other things: market trends in the shuttle tanker or general tanker industries, including hire rates, factors affecting supply and demand, and opportunities for the profitable operations of shuttle tankers and conventional tankers; market trends in the production of oil in the North Sea, Brazil and elsewhere; Knutsen NYK's and KNOT Offshore Partners' ability to build shuttle tankers and the timing of the delivery and acceptance of any such vessels by their respective charterers; KNOT Offshore Partners' ability to purchase vessels from Knutsen NYK in the future; KNOT Offshore Partners' ability to enter into long-term charters, which KNOT Offshore Partners defines as charters of five years or more, or shorter- term charters or voyage contracts; KNOT Offshore Partners' ability to refinance its indebtedness on acceptable terms and on a timely basis and to make additional borrowings and to access debt and equity markets; KNOT Offshore Partners' distribution policy, forecasts of KNOT Offshore Partners' ability to make distributions on its common units, Class B Units and Series A Preferred Units, the amount of any such distributions and any changes in such distributions; KNOT Offshore Partners' ability to integrate and realize the expected benefits from acquisitions; impacts of supply chain disruptions and the resulting inflationary environment; KNOT Offshore Partners' anticipated growth strategies; the effects of a worldwide or regional economic slowdown; turmoil in the global financial markets; fluctuations in currencies, inflation and interest rates; fluctuations in the price of oil; general market conditions, including fluctuations in hire rates and vessel values; changes in KNOT Offshore Partners' operating expenses, including drydocking and insurance costs and bunker prices; recoveries under KNOT Offshore Partners' insurance policies; the length and cost of drydocking; KNOT Offshore Partners' future financial condition or results of operations and future revenues and expenses; the repayment of debt and settling of any interest rate swaps; planned capital expenditures and availability of capital resources to fund capital expenditures; KNOT Offshore Partners' ability to maintain long-term relationships with major users of shuttle tonnage; KNOT Offshore Partners' ability to leverage Knutsen NYK's relationships and reputation in the shipping industry; KNOT Offshore Partners' ability to maximize the use of its vessels, including the re-deployment or disposition of vessels no longer under charter; the financial condition of KNOT Offshore Partners' existing or future customers and their ability to fulfill their charter obligations; timely purchases and deliveries of newbuilds; future purchase prices of newbuilds and secondhand vessels; any impairment of the value of KNOT Offshore Partners' vessels; KNOT Offshore Partners' ability to compete successfully for future chartering and newbuild opportunities; acceptance of a vessel by its charterer; the impacts of the Russian war with Ukraine, the conflict between Israel and Hamas and the other conflicts in the Middle East; termination dates and extensions of charters; the expected cost of, and KNOT Offshore Partners' ability to, comply with governmental regulations (including climate change regulations) and maritime self-regulatory organization standards, as well as standard regulations imposed by its charterers applicable to KNOT Offshore Partners' business; availability of skilled labor, vessel crews and management; the effects of outbreaks of pandemics or contagious diseases, including the impact on KNOT Offshore Partners' business, cash flows and operations as well as the business and operations of its customers, suppliers and lenders; KNOT Offshore Partners' general and administrative expenses and its fees and expenses payable under the technical management agreements, the management and administration agreements and the administrative services agreement; the anticipated taxation of KNOT Offshore Partners and distributions to its unitholders; estimated future capital expenditures; Marshall Islands economic substance requirements; KNOT Offshore Partners' ability to retain key employees; customers' increasing emphasis on climate, environmental and safety concerns; the impact of any cyberattack; potential liability from any pending or future litigation; potential disruption of shipping routes due to accidents, political events, piracy or acts by terrorists; future sales of KNOT Offshore Partners' securities in the public market; KNOT Offshore Partners' business strategy and other plans and objectives for future operations; and other factors listed from time to time in the reports and other documents that KNOT Offshore Partners files with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2024 and subsequent reports on Form 6-K. All forward-looking statements included in this release are made only as of the date of this release. New factors emerge from time to time, and it is not possible for KNOT Offshore Partners to predict all of these factors. Further, KNOT Offshore Partners cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward- looking statement. KNOT Offshore Partners does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in KNOT Offshore Partners' expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based. View source version on businesswire.com: https://www.businesswire.com/news/home/20250520988722/en/ back
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of New Fortress Energy Inc. - NFE
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of New Fortress Energy Inc. - NFE NEW YORK, May 20, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of New Fortress Energy Inc. ("New Fortress" or the "Company") (NASDAQ: NFE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether New Fortress and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On May 14, 2025, New Fortress issued a press release reporting its financial results for the first quarter of 2025. New Fortress disclosed weak performance across its business segments. Among other items, New Fortress reported total revenue of $470.5 million, compared to $690.3 million for the same period in 2024, as well as a net loss of $197.4 million, or $0.73 per share, compared to net income of $56.7 million, or $0.26 per share for the same period in 2024. On this news, New Fortress's stock price fell $4.27 per share, or 62.98%, to close at $4.27 per share on May 15, 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Danielle PeytonPomerantz LLPdpeyton@pomlaw.com646-581-9980 ext. 7980 View original content to download multimedia:https://www.prnewswire.com/news-releases/investor-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-new-fortress-energy-inc---nfe-302460075.html SOURCE Pomerantz LLP
Sidoti Events, LLC's Virtual May Micro-Cap Conference
Sidoti Events, LLC's Virtual May Micro-Cap Conference NEW YORK, NY / ACCESS Newswire / May 20, 2025 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day May Micro-Cap Conference taking place Wednesday and Thursday, May 21-22, 2025. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.Presentation Schedule*All Times EDTWednesday, May 21, 2025 (Day 1)8:30-9:00Mobile-health Network Solutions (MNDR)Bitcoin Depot (BTM)9:15-9:45Quantum BioPharma Ltd. (QNTM)CPS Technologies Corp (CPSH)10:00-10:30Lifeward Ltd. (LFWD)ACCESS Newswire (ACCS)10:45-11:15SuperCom (SPCB)Urgent.ly Inc. (ULY)11:30-12:00Alpha Teknova Inc. (TKNO)HeartCore Enterprises (HTCR)12:15-12:45Tigo Energy, Inc. (TYGO)Digi Power X (DGXX)1:00-1:30Anika Therapeutics (ANIK)******1:45-2:15Expion360 Inc. (XPON)Lightwave Logic (LWLG)2:30-3:00Aspire Biopharma Holdings (ASBP)Matrix Service Company (MTRX)3:15-3:45Walker Lane Resources Ltd. (WLR)Precision BioSciences, Inc. (DTIL)4:00-4:30Innovative Beverage Group (IBG)GSI Technology (GSIT)1x1s Only(21st)Coda Octopus Group, Inc. (CODA)GATX Corporation (GATX)HF Foods Group Inc. (HFFG)******All Times EDTThursday, May 22, 2025 (Day 2)8:30-9:00TNL Mediagene (TNMG)Nvni Group Limited (NVNI)9:15-9:45Freightos (CRGO)HydroGraph Clean Power (HGRAF)10:00-10:30Phio Pharmaceuticals Corp. (PHIO)******10:45-11:15Reading International, Inc. (RDI)Synchronoss Technologies (SNCR)11:30-12:00Orchestra BioMed (OBIO)Natural Gas Services Group, Inc. (NGS)12:15-12:45Evaxion (EVAX)Air T, Inc. (AIRT)1:00-1:30Tivic Health Systems, Inc. (TIVC)5E Advanced Materials, Inc. (FEAM)1:45-2:15Inspire Veterinary Partners (IVP)P2 Gold Inc. (PGLDF)2:30-3:00Teton Advisors, Inc. (TETAA)BioLargo, Inc. (BLGO)3:15-3:45Fuel Tech, Inc. (FTEK)Copper Fox Metals Inc. (CPFXF)1x1s Only(22nd)Apogee Enterprises, Inc. (APOG)Coda Octopus Group, Inc. (CODA)HF Foods Group Inc. (HFFG)*****About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")In 2023, Sidoti & Company, LLC (www.sidoti.com) formed an affiliate company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on over 25 years of experience Sidoti has as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 150 equities of which greater than 60 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. In 2024, Sidoti established Lighthouse Equity Research as an extension of its CSR program to meet the specific needs of companies not valued using traditional metrics or that face challenges obtaining coverage due to political risks or other factors. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Event's benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with 2,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.SOURCE: Sidoti & Company, LLCView the original press release on ACCESS Newswire
PROPWR Secures 10-Year Contract for 80 Megawatts of Power Capacity
PROPWR Secures 10-Year Contract for 80 Megawatts of Power Capacity MIDLAND, Texas, May 20 /BusinessWire/ -- ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) is pleased to announce that its PROPWR℠ division has secured its inaugural contract under which it will commit 80 megawatts of power generation capacity. This 10-year agreement represents a significant milestone for PROPWR, marking its first customer commitment and aligning with the Company's mission to "Rethink The Grid." Executed in collaboration with a Permian-focused E&P operator, the project involves PROPWR committing capacity of 80 megawatts, with asset deployment scheduled to begin in the third quarter of this year and continuing through 2026. PROPWR will deliver turnkey power to a distributed microgrid installation, utilizing in-field gas where utility power is unavailable to support production operations. This solution combines natural gas reciprocating engines and gas turbine generation to provide reliable power services under the contract. The comprehensive scope of service includes assets, onsite operations, maintenance, monitoring, an availability guarantee, and take-or-pay obligations for the customer supporting PROPWR's capacity commitment. This agreement not only underscores PROPWR's commitment to innovation and growth but also lays the groundwork for future expansion, with customer options to substantially increase PROPWR's committed capacity over time. Sam Sledge, CEO of ProPetro, stated, "This milestone is just the beginning for PROPWR. We believe it's a meaningful step forward, not only in expanding our capabilities, but in shaping the future of distributed power in our space. Even in today's uncertain oil and gas environment, PROPWR puts us in a strong position to serve our customers with more reliable, lower-cost, lower-emission power that creates real value for them, and real opportunity for us. PROPWR, and agreements like these, also adds another layer of stability and earnings potential to our core business, further industrializing both ProPetro and the broader oilfield services sector. Since launching the PROPWR business late last year, demand has been greater than we expected, and we believe this market, and PROPWR, is just getting started. Our focus is strong, and we believe the future is bright for PROPWR." The Company is actively pursuing additional opportunities, and is engaged in negotiations for additional contracts that extend beyond today's announcement. As highlighted during the Company's first-quarter earnings call, PROPWR has already agreed to terms with one additional customer through a letter of intent and is working to finalize the associated contract. The Company anticipates sharing more exciting contract announcements in the near future. About ProPetro ProPetro Holding Corp. is a Midland, Texas-based provider of premium completion and power services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. We help bring reliable energy to the world. For more information visit www.propetroservices.com. About PROPWR PROPWR is a Midland, Texas-based provider of reliable, utility-like power services through a modern, standardized fleet of gas-to-power solutions, serving oil and gas operators and industrial applications in the Permian Basin. We "Rethink The Grid" by delivering innovative, turnkey power generation with a focus on partnership and service excellence. For more information visit www.propwr.com. Forward-Looking Statements Except for historical information contained herein, the statements and information in this news release above are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "may," "could," "confident," "plan," "project," "budget," "design," "predict," "pursue," "target," "seek," "objective," "believe," "expect," "anticipate," "intend," "estimate," "will," "should," "continue," and other expressions that are predictions of, or indicate, future events and trends or that do not relate to historical matters generally identify forward-looking statements. Our forward-looking statements include, among other matters, statements about the supply of and demand for hydrocarbons, industry trends and activity levels, our business strategy, projected financial results and future financial performance, expected fleet utilization, sustainability efforts, the future performance of newly improved technology, expected capital expenditures, the impact of such expenditures on our performance and capital programs, our fleet conversion strategy, our share repurchase program, and the anticipated commercial prospects of PROPWR, including the demand for its services and anticipated benefits of the new business line. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. Although forward-looking statements reflect our good faith beliefs at the time they are made, forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the volatility of oil prices, changes in the supply of and demand for power generation, the risks associated with the establishment of a new service line, including delays, lack of customer acceptance and cost overruns, the global macroeconomic uncertainty related to the conflict in the Middle East region, and the Russia-Ukraine war, general economic conditions, including the impact of continued inflation, central bank policy actions, the risk of a global recession, U.S. and global trade policy, including the imposition of tariffs and retaliatory measures, and other factors described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the "Risk Factors" sections of such filings, and other filings with the Securities and Exchange Commission (the "SEC"). In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements and are urged to carefully review and consider the various disclosures made in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings made with the SEC from time to time that disclose risks and uncertainties that may affect the Company's business. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20250520441521/en/ back
Forum Energy Technologies to Participate in Water Tower Research Fireside Chat
Forum Energy Technologies to Participate in Water Tower Research Fireside Chat HOUSTON, May 19 /BusinessWire/ -- Forum Energy Technologies, Inc. (NYSE:FET) announced today that Neal Lux, President and Chief Executive Officer, and Lyle Williams, Executive Vice President and Chief Financial Officer, will participate in a fireside chat with Water Tower Research on Wednesday, May 21, 2025 at 10:00 a.m. Central Time. The event is open access and interested parties can register through the following link: https://us06web.zoom.us/webinar/register/8017473999850/WN_Cl0amNonSxqEckgJj50SrQ A link to the live webcast will also be available on FET's Investor Relations web page at ir.f-e-t.com the morning of the event. FET® is a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit www.f-e-t.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250519885300/en/ back
Geospace Unveils New Brand Identity Reflecting the Company's Move into Diverse Markets
Geospace Unveils New Brand Identity Reflecting the Company's Move into Diverse Markets HOUSTON, May 19 /BusinessWire/ -- Geospace Technologies Corporation (NASDAQ:GEOS) announces today a new brand identity, reflecting the company's transformation of its leadership and culture along with a redefined strategy focused on applied intelligent technology. Geospace developed this refreshed brand to better connect and engage their partners and stakeholders in the new high-margin, scalable markets the Company is pursuing. Following the restructuring of the Company's business segments, Geospace is focused on delivering innovative solutions and lasting value in three areas - smart water, energy solutions and intelligent industrial. Additionally, the last nine months have seen new top leadership with the appointment of Rich Kelley to CEO and Steve Jumper to Chairman of the Board. "We are excited to reveal our new brand identity to our partners and stakeholders. Our business has significantly evolved and diversified over the last decade. We have grown from the company we were when the old logo was implemented. We wanted to send a clear signal to our customers, markets, employees, and shareholders that Geospace has expanded our technology manufacturing well beyond oil and gas hardware. Revenue generated by our market leading smart meter connector has grown exponentially. Today, 27 million Hydroconn® connectors have been sold domestically. We have a foothold in national defense to build upon as well. It is not only about the changes that have taken place, but also about the future company we strive to create with revenue exceeding $200 million in the coming years with nearly equal contributions from each business segment. We are a company setting market demand for adaptive, predictive technologies that drive shareholder returns. This strategic purpose and direction demand a new brand identity," said Rich Kelley, President and CEO, Geospace Technologies. "The rebranding marks a new Geospace internally as well. We introduced a business purpose statement for the first time in the company's history to ensure we are rowing in the same direction. We clarified and streamlined our core values to showcase our excellence, people, integrity and creativity. We believe this brand transformation, along with our strong growth strategy, will power the Company's robust future as we partner with our customers to solve their toughest challenges." The newly revealed brand identity is live on the Company's website at www.Geospace.com. It will be unveiled globally at two respected industry events - the European Association of Geoscientists and Engineers (EAGE) as well as the American Water Works Associations Annual Conference and Exposition (ACE), which will both be held in early June. About Geospace Technologies Geospace Technologies is a global technology and instrumentation manufacturer specializing in advanced sensing, IOT and highly ruggedized products, which serve smart water, energy exploration, industrial, government and commercial customers worldwide. The Company's products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of excellence, the Company's more than 450 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS and has been added to the Russell 2000®, Russell 3000®, and Russell Micro-cap®. For more information, visit www.geospace.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250519132496/en/ back
Crescent Energy Announces Appointment of Joey Hall as Chief Operating Officer
Crescent Energy Announces Appointment of Joey Hall as Chief Operating Officer HOUSTON, May 19 /BusinessWire/ -- Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") today announced the appointment of J.D. ("Joey") Hall as Chief Operating Officer, effective June 2, 2025. Mr. Hall most recently served as Executive Vice President of Operations at Pioneer Natural Resources Company, where he was also a member of the Executive Committee. During his multi-decade career at Pioneer, Mr. Hall held leadership roles overseeing development and operational strategy in multiple regions, including the Eagle Ford and Permian Basin. Mr. Hall received a Bachelor of Science degree in Mechanical Engineering from Texas Tech University and is a Registered Professional Engineer in the State of Texas. In addition to his professional accomplishments, Mr. Hall and his family support a number of non-profit organizations and cofounded the nonprofit Will to Cure ALD. Joey Hall said, "I am excited to join the Crescent team and a company I see as one of the best-positioned growth stories in the energy sector. I look forward to working with the team to scale operational capabilities and drive sustainable, long-term growth. Our focus will remain on delivering strong financial results while advancing innovation, environmental responsibility, and a culture of safety and operational excellence." David Rockecharlie, Chief Executive Officer of Crescent, commented, "We are thrilled to welcome Joey Hall to the Crescent team. Joey is a proven leader and trusted teammate with a world-class track record of operational success. Crescent continues to build on our leading combination of investing and operating expertise, enabling us to advance our investment grade ambitions and deliver long-term value to our shareholders." About Crescent Energy Company Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Our long-life, balanced portfolio combines stable cash flows from low-decline production with deep, high-quality development inventory. Our activities are focused in Texas and the Rocky Mountain region. For additional information, please visit www.crescentenergyco.com. Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases "should", "could", "may", "will", "believe", "plan", "intend", "expect", "potential", "possible", "anticipate", "estimate", "forecast", "view", "efforts", "goal" and similar expressions identify forward-looking statements and express the Company's expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, weather, political and general economic conditions and events in the U.S. and in foreign oil producing companies, including the impact of inflation, elevated interest rates and associated changes in monetary policy; changes in tariffs, trade barriers, price and exchange controls and other regulatory requirements; federal and state regulations and laws, including the Inflation Reduction Act of 2022, taxes, tariffs and international trade, safety and the protection of the environment; the impact of disruptions in the capital markets; geopolitical events such as the armed conflict in Ukraine, the Israel-Hamas conflict and increased hostilities in the Middle East, including heightened tensions with Iran; actions by the Organization of the Petroleum Exporting Countries ("OPEC") and non-OPEC oil-producing countries, including the agreement by OPEC to phase out production cuts; the availability of drilling, completion and operating equipment and services; reliance on the Company's external manager; commodity price volatility, the severity and duration of public health crises; and the risks associated with commodity pricing and the Company's hedging strategy, the timing and success of business development efforts, including acquisition and disposition opportunities, our ability to integrate operations or realize any anticipated operational or corporate synergies and other benefits from recent acquisitions. Consequently, actual future results could differ materially from expectations. The Company assumes no duty to update or revise its respective forward-looking statements based on new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20250519827163/en/ back
LanzaTech Announces First Quarter 2025 Financial Results
LanzaTech Announces First Quarter 2025 Financial Results CHICAGO, May 19, 2025 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), a carbon management solutions company, today reported its financial and operating results for the first quarter of 2025. Key Takeaways: Reported total revenue of $9.5 million for the first quarter of 2025 as compared to $10.2 million for the first quarter of 2024. The year-over-year decrease was driven primarily by lower revenues in the biorefining and Joint Development Agreement ("JDA") & Contract Research businesses, which was largely offset by a significant increase in CarbonSmart revenue.Continued to shift the Company's core operations from research and development to the global deployment of LanzaTech's commercially proven technology, with incremental actions being taken to sharpen the business focus, streamline operations, and improve the Company's cost structure.Closed $40 million of preferred equity capital in May of 2025; however, after completing its assessment as required by Generally Accepted Accounting Principles ("GAAP"), management has concluded that its continuing actions such as ongoing liquidity initiatives, together with the terms of the preferred capital, and the execution of cost reduction plans, do not alleviate substantial doubt about the Company's ability to continue as a going concern. First Quarter 2025 Financial ResultsThe table below outlines key results for the first quarter of 2025: (1) See "Non-GAAP Financial Measures" and "Reconciliations of GAAP Net Loss to Adjusted EBITDA" sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release. Revenue Reported total revenue of $9.5 million for the first quarter of 2025 as compared to total revenue of $10.2 million for the first quarter of 2024. The decrease was driven primarily by lower biorefining and JDA & Contract Research revenues year-over-year, which were offset by a significant increase in CarbonSmart revenue: Biorefining revenue for the first quarter of 2025 was $2.9 million as compared to $5.0 million for the first quarter of 2024. The year-over-year decrease was driven primarily by the first quarter of 2024 benefiting from engineering and other services contracts with existing customers which have since reached the completion of their current development phase.JDA & Contract Research revenue for the first quarter of 2025 was $2.4 million as compared to $4.3 million for the first quarter of 2024. The year-over-year decline was attributable to the completion of certain government projects during 2024, compounded by a period of downtime prior to new projects commencing.CarbonSmart revenue for the first quarter of 2025 was $4.2 million as compared to $0.9 million for the first quarter of 2024. The year-over-year increase was attributable to incremental direct fuel sales as a result of establishing licensing arrangements, identifying partners, and developing supply chain infrastructure during the third quarter of 2024. Cost of Revenue For the first quarter of 2025, the cost of revenue was $7.5 million as compared to $6.8 million for the first quarter of 2024. The year-over-year increase was driven in part by a change in revenue mix related to a rise in revenue generated by CarbonSmart, which is a lower margin business as compared to biorefining and JDA & Contract Research. Additionally, the biorefining business experienced margin contraction during the first quarter of 2025 as compared to the same period in 2024 as a result of customer mix. Operating Expenses For the first quarter of 2025, operating expenses were $33.0 million as compared to $29.6 million for the first quarter of 2024. The year-over-year increase was primarily driven by incremental costs associated with sharpening the business focus, streamlining operations, and evaluating strategic options. Net Loss For the first quarter of 2025, net losses were $19.2 million as compared $25.5 million for the first quarter of 2024. Net loss decreased year-over-year primarily as a result of a $17.9 million non-cash gain on financial instruments being recorded in the first quarter of 2025, that was partially offset by expenses incurred associated with evaluating strategic options and a $6.5 million non-cash loss recorded related to equity method investees. Adjusted EBITDA Loss For the first quarter of 2025, adjusted EBITDA loss was $30.5 million as compared to $22.1 million for the first quarter of 2024. The increase in adjusted EBITDA loss year-over-year was primarily attributable to higher selling, general and administrative expenses as a result of evaluating strategic options, along with lower revenue and higher cost of sales period-over-period. Balance Sheet and LiquidityAs of March 31, 2025, LanzaTech had $23.4 million in total cash, restricted cash, and investments, compared to total cash of $58.1 million at the end of December 31, 2024. The Company subsequently closed $40 million of preferred equity capital in May of 2025. About LanzaTechLanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein. Using its biorecycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. For more information about LanzaTech, please visit https://lanzatech.com. Forward Looking StatementsThis press release includes forward-looking statements regarding, among other things, the plans, strategies and prospects, both business and financial, of LanzaTech. These statements are based on the beliefs and assumptions of LanzaTech's management. Although LanzaTech believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, LanzaTech cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends" or similar expressions. The forward-looking statements are based on projections prepared by, and are the responsibility of, LanzaTech's management. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside LanzaTech's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including the Company's ability to continue operations as a going concern; the Company's ability to obtain the stockholder approvals necessary to consummate the subsequent equity financing contemplated by the Series A Convertible Senior Preferred Stock Purchase Agreement, dated May 7, 2025; the Company's ability to attract new investors and raise substantial additional financing to fund its operations and/or execute on its other strategic options; the Company's ability to regain compliance with the listing rules of Nasdaq and maintain the listing of its securities on Nasdaq; and the Company's ability to achieve profitability. LanzaTech may be adversely affected by other economic, business, or competitive factors, and other risks and uncertainties, including those described under the header "Risk Factors" in its Form 10-K for the year ended December 31, 2024, its Form 10-Q for the quarter ended March 31, 2025 and in future SEC filings. New risk factors that may affect actual results or outcomes emerge from time to time and it is not possible to predict all such risk factors, nor can LanzaTech assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to LanzaTech or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements. Non-GAAP Financial MeasuresTo supplement our financial statements presented in accordance with US GAAP and to provide investors with additional information regarding our financial results, we have presented adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is not based on any standardized methodology prescribed by US GAAP and is not necessarily comparable to similarly titled measures presented by other companies. We define adjusted EBITDA as our net loss, excluding the impact of depreciation, interest income, net, stock-based compensation expense, change in fair value of warrant liabilities, change in fair value of Brookfield SAFE liabilities, loss on Brookfield SAFE extinguishment, change in fair value of the FPA Put Option and Fixed Maturity Consideration liabilities, change in fair value of our outstanding convertible note and related transaction costs, change in fair value of Brookfield Loan and(loss) gain from equity method investees. We monitor adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our operating performance, to establish budgets, and to develop operational goals for managing our business. We believe adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of certain expenses that we include in net loss. Accordingly, we believe adjusted EBITDA provides useful information to investors, analysts, and others in understanding and evaluating our operating results and enhancing the overall understanding of our past performance and future prospects. Adjusted EBITDA is not prepared in accordance with US GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with US GAAP. There are a number of limitations related to the use of adjusted EBITDA rather than net loss, which is the most directly comparable financial measure calculated and presented in accordance with US GAAP. For example, adjusted EBITDA: (i) excludes stock-based compensation expense because it is a significant non-cash expense that is not directly related to our operating performance; (ii) excludes depreciation expense and, although this is a non-cash expense, the assets being depreciated and amortized may have to be replaced in the future; (iii) excludes gain or losses on equity method investee; and (iv) excludes certain income or expense items that do not provide a comparable measure of our business performance. In addition, the expenses and other items that we exclude in our calculations of adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from adjusted EBITDA when they report their operating results. In addition, other companies may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investor Relations Contact Kate WalshVP, Investor Relations & TaxInvestor.Relations@lanzatech.com
Halliburton Launches EarthStar 3DX Horizontal look-ahead Resistivity Service to Unlock Reservoir Potential
Halliburton Launches EarthStar® 3DX Horizontal look-ahead Resistivity Service to Unlock Reservoir Potential HOUSTON, May 19 /BusinessWire/ -- Halliburton (NYSE:HAL) launched EarthStar® 3DX, the industry's first 3D horizontal look-ahead resistivity service. The technology provides operators with geological insights into horizontal wells up to 50 ft before penetration by the bit. The capability to gather real-time data allows operators to identify hazards and make informed decisions. "EarthStar 3DX service is the latest example of Halliburton's leadership in reservoir mapping technology," said Jim Collins, vice president, Sperry Drilling, Halliburton. "True to our value proposition, we customize our subsurface and drilling solutions to maximize asset value for our customers. By mapping geological variations before they are encountered, operators can adjust well trajectories to minimize risk, improve wellbore placement, and increase reservoir contact." With the industry's closest-to-bit, ultra-deep resistivity sensor, the EarthStar 3DX look-ahead service enables earlier formation detection. Unlike conventional mapping technology, EarthStar 3DX service helps operators anticipate formation changes, optimize reservoir contact and hydrocarbon recovery, and reduce premature exits and unnecessary corrections. Early intervention mitigates wellbore instability challenges and facilitates safe and efficient operations for customers. Learn more about Halliburton logging while drilling, drilling technologies, and EarthStar 3DX service. About Halliburton Halliburton is one of the world's leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook. View source version on businesswire.com: https://www.businesswire.com/news/home/20250518808179/en/ back
H&P Retains Eastdil Secured to Evaluate Future Options for Utica Square Shopping Center
H&P Retains Eastdil Secured to Evaluate Future Options for Utica Square Shopping Center TULSA, Okla., May 16 /BusinessWire/ -- Helmerich & Payne, Inc. (NYSE:HP) announced today it has engaged Eastdil Secured, a national commercial brokerage firm, to explore future options for Utica Square. "We are proud of our ownership of Utica Square since 1964 and are deeply grateful for Tulsa's longstanding support," said John Lindsay, president and CEO. "At the same time, we are beginning to explore opportunities with a strategic partner or buyer that can take the Square into the future. This exercise is consistent with a larger companywide review of all our assets following the largest acquisition in our history and the timing is right for us to explore the future possibilities for this exceptional property." About Helmerich & Payne, Inc. Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit hpinc.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250516801418/en/ back
Falcon's Beyond Acquires Oceaneering Entertainment Systems (OES), Strengthening Position as a Global Leader in Advanced Ride and Show Systems
Falcon's Beyond Acquires Oceaneering Entertainment Systems (OES), Strengthening Position as a Global Leader in Advanced Ride and Show Systems Acquisition Accelerates Growth of Falcon's Attractions Division with Industry-Leading IP, Technology, Talent, Capabilities, and Facilities ORLANDO, Fla., May 15 /BusinessWire/ -- Falcon's Beyond Global, Inc. (NASDAQ:FBYD) ("Falcon's Beyond", "Falcon's" or the "Company"), a visionary leader in innovative and immersive storytelling announced today that Falcon's has acquired Oceaneering Entertainment Systems (OES), a division of Oceaneering International Inc. (NYSE:OII) ("OII"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250515196508/en/Falcon's Beyond team In the transaction, Falcon's purchased OES's global portfolio of patented technologies, proprietary engineering and manufacturing processes. Falcon's also assumed the lease for a 106,000+ square-foot facility to bolster Falcon's research, development, testing, and integration services. In addition, Falcon's has hired key members of OES' highly experienced team. Falcon's also has an option to acquire certain OES inventory exercisable on or before July 23, 2025. The transaction follows a letter of intent previously announced on November 19, 2024, with Falcon's, rather than Infinite Acquisitions Partners LLC, making the purchase. For more than 25 years, OES has been a trusted provider to the world's top theme park developers and operators. OES' trailblazing legacy includes the creation of complex and award-winning rides, show systems, equipment, and custom engineering solutions. OES has received 12 prestigious Thea Awards from the Themed Entertainment Association for its ride & show systems including The Amazing Adventures of Spider-Man® and Transformers: The Ride 3D™ at Universal Orlando Resort, Justice League™: Battle for Metropolis at Six Flags, and the Shuttle Launch Experience® at the Kennedy Space Center. Falcon's and OES have enjoyed a collaborative relationship for over two decades, deploying groundbreaking themed entertainment projects around the world. "The powerful combination of Falcon's innovation with OES's technical and engineering expertise is a game changer," said Cecil D. Magpuri, CEO and Co-Founder of Falcon's Beyond. "OES has been behind some of the best attractions and experiences in the world. Together, we're ushering in a new era for the global experience economy." The acquisition significantly enhances and accelerates the growth of Falcon's Attractions as a vertically integrated global provider of advanced entertainment systems, technologies, custom engineering and advanced turn-key solutions. Strategically, this acquisition expands Falcon's Attractions services, diversifies its client portfolio, expands market reach and provides new revenue streams. It is expected to be accretive to future earnings, support long-term growth objectives and enhance shareholder value. It also amplifies Falcon's ability to serve its growing slate of destination developments and third-party clients with comprehensive next-generation attractions. Going forward, Falcon's will provide support for all legacy OES products, ensuring continuity with the same personnel and technology that was provided by OES as the original equipment manufacturer (OEM). "Falcon's Attractions has onboarded a deep bench of the top entertainment systems experts in the industry," said Dave Mauck, President of Falcon's Attractions (former Vice President and General Manager of OES). "I've worked with some of these team members for decades, and their collective experience is truly remarkable. As Falcon's, we offer an unparalleled combination of creative, technical, and operational excellence that will revolutionize the experiential entertainment industry." This acquisition underscores Falcon's strategic vision to become the premier platform company in the experience economy - where storytelling, design, and technology converge to shape the next generation of consumer experiences worldwide. To learn more about Falcon's Attractions, visit falconsattractions.com. About Falcon's Beyond Falcon's Beyond is a visionary innovator in immersive storytelling, sitting at the intersection of three potential high growth business opportunities: content, technology, and experiences. Falcon's Beyond propels intellectual property (IP) activations concurrently across physical and digital experiences through three core business units: Falcon's Creative Group ("FCG") creates master plans, designs attractions and experiential entertainment, and produces content, interactives and software. Falcon's Beyond Destinations ("FBD") develops a diverse range of entertainment experiences using both Falcon's Beyond owned and third party licensed intellectual property, spanning location-based entertainment, dining, and retail. Falcon's Beyond Brands ("FBB") endeavors to bring brands and intellectual property to life through animation, movies, licensing and merchandising, gaming as well as ride and technology sales. Falcon's Beyond also invents immersive rides, attractions and technologies for entertainment destinations around the world. FALCON'S BEYOND and its related trademarks are owned by Falcon's Beyond. Falcon's Beyond is headquartered in Orlando, Fla. Learn more at falconsbeyond.com. Falcon's Beyond may use its website as a distribution channel of material Company information. Financial and other important information regarding the Company is routinely accessed through and posted on our website at https://investors.falconsbeyond.com. In addition, you may automatically receive email alerts and other information about Falcon's when you enroll your email address by visiting the Email Alerts section at https://investors.falconsbeyond.com. Cautionary Note Regarding Forward-Looking Statements This press release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, words such as "is", "ushering", "will," "would", "enhance", "accelerate", "expand", "expected", "amplifies", "revolutionize", "ensuring", "become" and similar expressions identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those expressed in or implied by the forward-looking statements, including (1) any failure to realize the anticipated benefits of the acquisition of OES, (2) risks related to legacy OES products and our ability to service such products, (3) the risk that the OES acquisition, integration of the OES personnel we hired, and efforts to grow Falcon's Attractions disrupts our other operations, (4) our ability to grow current and future potential customer relationships, (5) our ability to sustain our growth, effectively manage our anticipated future growth, and implement our business strategies to achieve the results we anticipate, (6) our current liquidity resources raise substantial doubt about our ability to continue as a going concern, (7) impairments of our intangible assets and equity method investment in our joint ventures, (8) our ability to raise additional capital, (9) the closure of Katmandu Park DR and the repositioning and rebranding of our FBD business, (10) the success of our growth plans in FCG, (11) our customer concentration in FCG, (12) the risk that contractual restrictions relating to the Strategic Investment may affect our ability to access the public markets and expand our business, (13) the risks of doing business internationally, including in the Kingdom of Saudi Arabia, (14) our indebtedness, (15) our dependence on strategic relationships with local partners in order to offer and market our products and services in certain jurisdictions, (16) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (17) cybersecurity-related risks, (18) our ability to protect our intellectual property, including the intellectual property purchased from OES, (19) our ability to remediate identified material weaknesses in our internal controls over financial reporting, (20) the concentration of share ownership and the significant influence of the Demerau Family and Cecil D. Magpuri, (21) the outcome of pending, threatened and future legal proceedings, (22) our continued compliance with Nasdaq continued listing standards, (23) risks related to our Up-C entity structure and the fact that we may be required to make substantial payments to certain unitholders under our Tax Receivable Agreement, and (24) the risks disclosed under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K, and the Company's other filings with the Securities and Exchange Commission. The forward-looking statements herein speak only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20250515196508/en/ back