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Contains the last 10 releases
Updated: 1 year 15 weeks ago

YPF SA reports

7 June 2017 - 11:01am

BUENOS AIRES, Argentina, June 07, 2017 (GLOBE NEWSWIRE) -- YPF SA (NYSE:YPF) announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2016, with the US Securities and Exchange Commission, including audited financial statements.

The document is available on the YPF website at www.ypf.com in the Investor Relations section, and can also be downloaded from the SEC website at www.sec.gov.

About YPF
YPF is the leading energy company of Argentina, producing 43% of the total oil and gas in the country and supplying 56% of the fuel markets through a network of 1500 gas stations and other assets.  YPF is leader in the production of unconventional resources. It is an integrated energy company that generates a large offering consisting of natural gas, electricity, fuels, petrochemicals, lubricants and products for agriculture, among others.

CONTACT: Media Relations prensa@ypf.com Investor Relations inversoresypf@ypf.com
Categories: State

Interoil Exploration & Production ASA: Nomination committee proposal

7 June 2017 - 9:35am

Please find attached the nomination committee's recommendation with proposals for board composition and remuneration of the members of the Board of Directors, the audit committee and the nomination committee.

Please direct any further questions to: ir@interoil.no.

***************************

Interoil Exploration and Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America. The Company is operator of production and exploration assets in Colombia. Interoil currently employs approximately 70 people and is headquartered in Oslo.

Attachments:    Nomination Committee proposal
                       


This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/473692df-68d3-4dbe-bb73-d727ccefc58a

Categories: State

AB Klaipėdos Nafta preliminary activity and revenue results for the May 2017

7 June 2017 - 9:02am

Transhipment during May 2017 In Klaipėda and and Subacius oil terminals of AB Klaipėdos nafta (hereinafter – the Company) was the highest in 2017 and was growing for the third month in a row. 668 thousand tons of petroleum products were reloaded into its storage tanks during May 2017, i.e. less by 23.7 per cent compared to May 2016, when 875 thousand tons were reloaded; the reduce is explained by exceptionally high transhipment results of May 2016.

During the first five months of 2017 the Company in total reloaded 2,657 thousand tons of petroleum products into its storage tanks or less by 28.5 per cent compared to the same period of 2016 when 3,715 thousand tons were reloaded. The decline in transhipment volume is related with reduce of transit cargos from Belorussia refineries, which are currently recovering and the lag from last year is getting lower.

In May 2017 In the Liquefied Natural Gas (LNG) terminal of the Company 1,233 thousand MWh of the natural gas were re-gasified and supplied to the natural gas transmission system , while in May 2016 – 1,406 thousand MWh. During the first five months of 2017 the Company in total re-gasified and reloaded 4,210 thousand MWh of the natural gas (during the same period of 2016 – 7,884 thousand MWh). The LNG terminal activity level is lower in relation with lower capacities ordered by the terminal users.

The preliminary sales revenues for May 2017 of Klaipėda and Subačius oil terminals comprise EUR 3.3 million and are less by 17.5 percent compared to the same period of 2016 (EUR 4.0 million). The preliminary sales revenues for January-May 2017 of the Company’s oil terminals comprise EUR 14.4 million and are less by 25.6 per cent compared to the same period of 2016 (EUR 19.3 million).

The preliminary sales revenues of the Company’s LNG Terminal for May 2017 comprise EUR 5.5 million (May 2016 – EUR 5.5 million). These revenues comprise from the part of security supplement dedicated for compensation of LNG terminal exploitation expenses, as well as regasification and reloading tariffs. The preliminary revenues of the LNG terminal for the first five months of 2017 comprise EUR 29.5 million and increased by 3.1 per cent compared to the same period of 2016 (EUR 28.6 million).

Total preliminary sales revenues of the Company for the first five months of 2017 comprise EUR 43.9 million, i.e. 8.4 per cent less compared to same period 2016 (EUR 47.9 million).

Petroleum products transshipment and LNG re-gasification and reloading:

  May January – May   2017 2016 Change, % 2017 2016 Change, % Petroleum products transshipment, thousand tons 668 875 -23.7% 2,657 3,715 -28.5% LNG re-gasification and reloading, thousand MWh 1,233 1,406 -12.3% 4,210 7,884 -46.6%

 

Petroleum products transshipment and LNG re-gasification and reloading in 2017 by month:

  January February March April May Petroleum products transshipment, thousand tons 625 561 368 435 668 LNG re-gasification and reloading, thousand MWh 784 105 652 1.436 1.233

 

Preliminary revenues of the Company, EUR million:

     May January – May   2017 2016 Change, % 2017 2016 Change, % Klaipėda oil terminal activity 3.1 3.7 -16.2% 13.4 18.1 -26.0% Subačius oil terminal activity 0.2 0.3 -33.3% 1.0 1.2 -20.0% LNG terminal activity 5.5 5.5 0.0% 29.5 28.6 3.1% Total: 8.8 9.5 -7.4% 43.9 47.9 -8.4%

 

         Marius Pulkauninkas, Director of Finance and Administration Department, tel. 8 46 391763

Categories: State

Delphi Energy Corp. Announces Close of $65 Million Financing

7 June 2017 - 8:13am

**Not for distribution to United States News Services or Dissemination in the United States** 

CALGARY, Alberta, June 07, 2017 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce that it has closed its previously announced financing comprised of the sale of (i) 27,559,055 common shares issued at a price of $1.27 per common share; and (ii) 30,000 senior secured Collateralized Exchange Listed™ (“CEL”) Notes, each with a principal amount of $1,000 and a 10% coupon, for gross proceeds of approximately $65.3 million.

A syndicate of agents, led by Raymond James Ltd. and co-led by AltaCorp Capital Inc., sold the common shares and Raymond James, as sole agent, sold the CEL Notes, all on a private placement basis. The common shares and CELTM Notes issued are subject to a statutory hold period of four months plus one day from the date of closing, in accordance with applicable securities legislation.  The majority of the financing was subscribed for by a single US-based institutional investor. Delphi is pleased to have a strategic investor who is constructive to Delphi’s accelerated development plan at its Bigstone Montney asset and is supportive of future consolidation opportunities in the area.

OUTLOOK

Funds from the financing will initially be used to repay bank debt leaving the Company with an undrawn $80 million credit facility.  The enhanced liquidity will support Delphi’s planned accelerated capital program and will allow the Company to continue its Bigstone consolidation efforts, following up on its previously announced acquisition of 22.5 net sections of Montney rights.

Delphi plans to add a third rig in the fall and double its planned drilling program for the remainder of 2017 through spring breakup in 2018, increasing the number of wells drilled from 10 to 20 wells. The Company drilled six wells in each of 2015 and 2016. The Company’s field operations remain active after an abbreviated spring break up, with five (3.1 net) wells in various stages of completion.

Drilling Program (# of wells)2015 2016 2017  2018 Historical and current budgets661314Expanded capital program--3-54-8Total Wells6616-18 18-22

Although the full 2018 capital budget and guidance will not be finalized and approved until the fourth quarter of 2017, Delphi anticipates production in the fourth quarter of 2018 to increase by approximately 40 percent, from its current fourth quarter of 2017 expectation of 11,000 to 11,500 boe/d due to the expanded capital program.   Run-rate cash flow in the fourth quarter of 2018 is anticipated to be in the context of $100 million to $110 million (assuming commodity pricing similar to the Company’s 2017 guidance assumptions).Total debt to cash flow ratio is anticipated to remain at or below the Company’s target of 1.5 times through 2018.

This news release does not constitute an offer to sell or a solicitation of any offer to buy the securities in the United States. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended and will not be offered or sold in the United States absent an exemption from the registration requirements thereof.

About Delphi Energy Corp.

Delphi Energy Corp. is an industry-leading producer of liquids-rich natural gas.  The Company has achieved top decile results through the development of our high quality Montney property, uniquely positioned in the Deep Basin of Bigstone, in northwest Alberta. Delphi continues to outperform key industry players by improving operational efficiencies and growing our dominant Bigstone land position in this world-class play. Delphi is headquartered in Calgary, Alberta and trades on the Toronto Stock Exchange under the symbol DEE.

FOR FURTHER INFORMATION PLEASE CONTACT: DELPHI ENERGY CORP.300, 500 – 4 Avenue S.W.Calgary, AlbertaT2P 2V6Telephone: (403) 265-6171 Facsimile: (403) 265-6207Email: info@delphienergy.ca Website: www.delphienergy.ca      DAVID J. REIDMARK D. BEHRMANPresident & CEO CFO

Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws.  These statements relate to future events or the Company’s future performance and are based upon the Company’s internal assumptions and expectations.  All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, "intends”, “forecast”, “plans”, “guidance”, “budget” and similar expressions.

More particularly and without limitation, this release contains forward-looking statements and information relating to use of proceeds from the offering; impact of the offering on Delphi’s liquidity and the benefits therefrom; the expected increase to Delphi’s capital program; Delphi’s drilling plans; expectations of the impact of an accelerated growth plan; expected production; expected cash flow in the fourth quarter of 2018; and expected total debt to cash flow through 2018.

The forward-looking statements and information contained in this release are based on certain key expectations and assumptions made by Delphi.  The following are certain material assumptions on which the forward-looking statements and information contained in this release are based: the stability of the global and national economic environment, the stability of and commercial acceptability of tax, royalty and regulatory regimes applicable to Delphi, exploitation and development activities being consistent with management’s expectations, production levels of Delphi being consistent with management’s expectations, the absence of significant project delays, the stability of oil and gas prices, the absence of significant fluctuations in foreign exchange rates and interest rates, the stability of costs of oil and gas development and production in Western Canada, including operating costs, the timing and size of development plans and capital expenditures, availability of third party infrastructure for transportation, processing or marketing of oil and natural gas volumes, prices and availability of oilfield services and equipment being consistent with management’s expectations, the availability of, and competition for, among other things, pipeline capacity, skilled personnel and drilling and related services and equipment, results of development and exploitation activities that are consistent with management’s expectations, weather affecting Delphi’s ability to develop and produce as expected, contracted parties providing goods and services on the agreed timeframes, Delphi’s ability to manage environmental risks and hazards and the cost of complying with environmental regulations, the accuracy of operating cost estimates, the accurate estimation of oil and gas reserves, future exploitation, development and production results and Delphi’s ability to market oil and natural gas successfully to current and new customers. Additionally, estimates as to expected average annual production rates assume that no unexpected outages occur in the infrastructure that the Company relies on to produce its wells, that existing wells continue to meet production expectations and any future wells scheduled to come on in the coming year meet timing and production expectations.

Commodity prices used in the determination of forecast revenues are based upon general economic conditions, commodity supply and demand forecasts and publicly available price forecasts. The Company continually monitors its forecast assumptions to ensure the stakeholders are informed of material variances from previously communicated expectations.

Financial outlook information contained in this release about prospective results of operations, financial position or cash flows is based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s assessment of the relevant information currently available. Readers are cautioned that such financial outlook information contained in this release should not be used for purposes other than for which it is disclosed.

Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent known and unknown risks and uncertainties.  Delphi’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Delphi will derive therefrom. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those currently anticipated due to a number of factors and risks.  These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, , the uncertainty of estimates and projections relating to production rates, costs and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition from others for scarce resources, the ability to access sufficient capital from internal and external sources, changes in governmental regulation of the oil and gas industry and changes in tax, royalty and environmental legislation.  Additional information on these and other factors that could affect the Company’s operations or financial results are included in the Company’s most recent Annual Information Form and other reports on file with the applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). 

Readers are cautioned that the foregoing list of factors is not exhaustive.  Furthermore, the forward-looking statements contained in this release are made as of the date of this release for the purpose of providing the readers with the Company’s expectations for the coming year.  The forward-looking statements and information may not be appropriate for other purposes.  Delphi undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.  The forward-looking statements contained in this release are expressly qualified in their entirety by this cautionary statement.

Basis of Presentation.  For the purpose of reporting production information, reserves and calculating unit prices and costs, natural gas volumes have been converted to a barrel of oil equivalent (boe) using six thousand cubic feet equal to one barrel.  A boe conversion ratio of 6:1 is based upon an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.  This conversion conforms to the Canadian Securities Administrators’ National Instrument 51-101 when boes are disclosed.  Boes may be misleading, particularly if used in isolation. 

Categories: State

Frank’s International N.V. Names Kyle F. McClure Chief Financial Officer

7 June 2017 - 8:02am

HOUSTON, June 07, 2017 (GLOBE NEWSWIRE) -- Frank’s International N.V. (NYSE:FI) (“Frank’s” or the “Company”) today announced that its Board of Supervisory Directors has named Kyle McClure as Senior Vice President and Chief Financial Officer, effective June 5, 2017. 

Mr. McClure previously served as the Company’s Senior Vice President of Finance and Treasurer since March 2015, with responsibility for global treasury, insurance, investor relations and financial planning and analysis. In August 2016, he assumed additional responsibilities for finance leadership of the Western Hemisphere business. In March 2017, he was appointed as the interim Chief Financial Officer in addition to his other duties. 

“We are pleased to have Kyle continue to serve Frank’s International as our Chief Financial Officer and as a key member of our management team,” said Douglas Stephens, President and Chief Executive Officer. “Kyle has been an integral part of our finance team at Frank’s and a proven leader throughout his career, driving efficiency and financial discipline in organizations across a variety of industries. I want to congratulate Kyle on this well-deserved promotion and I look forward to continuing our work together to deliver long-term shareholder value.”

Prior to joining the Company, Mr. McClure served as Treasurer for Ascend Performance Materials, a specialty chemicals company, from January 2013 to March 2015, where he was responsible for capital funding, cash and liquidity management, insurance, credit and treasury operations and controls. Mr. McClure’s previous experience also includes serving as Director of Treasury and Investor Relations for Cooper Industries, an electrical products manufacturer, from December 2008 until its acquisition by Eaton Corporation in December 2012. He also served in multiple financial roles of increasing leadership at Dell over a ten-year period, including treasury, corporate planning, operations, and sales finance support. In addition, he worked in public accounting for Arthur Andersen.

Mr. McClure holds a Bachelor of Arts degree in Economics from The University of Texas at Austin and a Master of Business Administration from Baylor University.

About Frank’s International

Frank’s International N.V. is a global oil services company that provides a broad and comprehensive range of highly engineered tubular running services, tubular fabrication, and specialty well construction and well intervention solutions with a focus on complex and technically demanding wells. Founded in 1938, Frank’s has approximately 3,000 employees and provides services to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries on six continents. The Company’s common stock is traded on the NYSE under the symbol “FI.”  Additional information is available on the Company’s website, www.franksinternational.com.

CONTACT: Contacts: Blake Holcomb, Director – Investor Relations and Communications blake.holcomb@franksintl.com 713-231-2463
Categories: State

Enphase Energy to Host Analyst Day

7 June 2017 - 8:00am

PETALUMA, Calif., June 07, 2017 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced today that it will host its Analyst Day at the Marriott Marquis Hotel in New York, NY on June 19, 2017 at 8:30 a.m. EDT.

For more information, please contact Kristine Jones at kjones@enphaseenergy.com.

The presentation will be archived on Enphase Energy's investor relations website at http://investor.enphase.com.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world's only truly integrated solar plus storage solution. Enphase has shipped more than 14 million microinverters, and more than 620,000 Enphase systems have been deployed in more than 100 countries. Visit www.enphase.com for more information

Enphase Energy®, the Enphase logo and other trademarks or service names are the trademarks of Enphase Energy, Inc.

Forward-Looking Statements
This press release may contain forward-looking statements, including statements related to Enphase Energy's financial performance, market demands for its products, and advantages of its technology and market trends. These forward-looking statements are based on the company's current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties and other risks detailed in the "Risk Factors" and elsewhere in Enphase Energy's latest Securities and Exchange Commission filings and reports. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

CONTACT: Contact Christina Carrabino Investor Relations Enphase Energy, Inc. ir@enphaseenergy.com +1-707-763-4784, ext. 7294
Categories: State

U.S. Geothermal Inc. to Present at the 2017 Marcum Microcap Conference

7 June 2017 - 8:00am

BOISE, Idaho, June 07, 2017 (GLOBE NEWSWIRE) -- U.S. Geothermal Inc. (the “Company”) (NYSE MKT:HTM), a leading and profitable renewable energy company focused on the development, production, and sale of electricity from geothermal energy, today announced that Jonathan Zurkoff, Executive VP, Finance and Treasurer, is scheduled to present at the 2017 Marcum Microcap Conference in New York, NY on Thursday, June 15, 2017 at 10:00 a.m. (ET).

The 2017 Marcum Microcap Conference is scheduled to take place at the Grand Hyatt New York Hotel on June 15-16, 2017.

About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading and profitable renewable energy company focused on the development, production and sale of electricity from geothermal energy. The Company is currently operating geothermal power projects at Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho for a total power generation of approximately 45 MWs. The Company is also developing an additional estimated 115 MWs of projects at: the Geysers, California; a second phase project at San Emidio, Nevada; at Crescent Valley, Nevada; and the El Ceibillo project located near Guatemala City, Guatemala. U.S. Geothermal’s growth goal is to reach over 200 MWs of generation by 2021 through a combination of internal development and strategic acquisitions.

Please visit our Website at: http://www.usgeothermal.com

About Marcum:
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland. Headquartered in New York City, Marcum provides a full spectrum of traditional tax, accounting and assurance services; advisory, valuation and litigation support; and an extensive range of specialty and niche industry practices. The Firm serves both privately held and publicly traded companies, as well as high net worth individuals, private equity funds and hedge funds, with a focus on middle-market companies and closely held family businesses. Marcum is a member of the Marcum Group, an organization providing a comprehensive array of professional services. For more information, visit www.marcumllp.com.

The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Readers are cautioned to review the risk factors identified by the company in its filings with United States Securities and Exchange Commission. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance, development schedules or estimated resources of U.S. Geothermal, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. These forward-looking statements may include statements regarding perceived merit of properties; interpretation of the results of well tests; project development; resource megawatt capacity; capital expenditures; timelines; strategic plans; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from U.S. Geothermal's expectations include the uncertainties involving the availability of financing in the debt and capital markets; uncertainties involved in the interpretation of results of well tests; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals; risks of construction; unexpected cost increases, which could include significant increases in estimated capital and operating costs; and other risks and uncertainties disclosed in U.S. Geothermal's Annual Report on Form 10-K for the year ended December 31, 2016 filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities and in other U.S. Geothermal reports and documents filed with applicable securities regulatory authorities from time to time. Forward-looking statements are based on management’s expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management’s expectations, beliefs, or opinions, or other factors, should change.

The NYSE MKT does not accept responsibility for the adequacy of this release.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Scott Anderson – Director of Investor Relations and Corporate Communications
U.S. Geothermal Inc.
Tel:  208-424-1027
Fax: 208-424-1030
sanderson@usgeothermal.com

Categories: State

Latvijas Gāze, JSC: Council to be re-elected in August

7 June 2017 - 7:51am

Latvijas Gāze has received a resignation letter from Council member Jörg Tumat stating an intention to leave the position of member of the Council of Latvijas Gāze.

Under the Commercial Law, if one Council member resigns, the entire Council has to be re-elected. The extraordinary Shareholders’ meeting for the re-election of the Council is scheduled for August 15, 2017, and the new Council will take office on September 1.

The shareholders’ meeting will be announced at least one month before the date of the meeting.

         Vinsents Makaris
         Investor relations manager
         Phone: + (371) 67 369 144
         E-mail: IR@lg.lv

Categories: State

Advanced Emissions Solutions Announces Preliminary Results of Tender Offer

7 June 2017 - 7:30am

HIGHLANDS RANCH, Colo., June 07, 2017 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (the "Company") (NASDAQ:ADES) today announced the preliminary results of its previously announced modified Dutch Auction tender offer which expired at 5:00 P.M., New York City Time, on June 6, 2017.

Based on the preliminary count by Computershare Trust Company, N.A., the Depositary for the tender offer, a total of approximately 2,958,900 shares of the Company’s common stock were validly tendered and not validly withdrawn at the price of $9.40 per share, the minimum price in the price range specified in the tender offer. This amount includes approximately 208,165 shares that were tendered through notice of guaranteed delivery.

In accordance with the terms and conditions of the tender offer and based on a preliminary count by the Depositary, the Company expects to accept for payment a total of approximately 1,370,891 shares of the Company’s common stock at a price of $9.40 per share, for a total cost of approximately $12.9 million, excluding fees and expenses relating to the tender offer. These shares represent approximately 6.2% of the Company’s total outstanding common stock as of June 6, 2017. The shares of common stock expected to be purchased include the 925,000 shares the Company initially offered to purchase and approximately 445,891 additional shares that the Company has elected to purchase pursuant to its right to purchase up to an additional 2% of its outstanding shares of common stock.

Because the tender offer is oversubscribed, the Company expects to purchase only a prorated portion of the shares properly tendered by each tendering stockholder (other than “odd lot” holders whose shares will be purchased on a priority basis) at the final per share purchase price. Based on the preliminary count, and accounting for the effect of odd lot priority on the proration factor, the Depositary has informed the Company that the preliminary proration factor for the tender offer is expected to be approximately 45.4% of the shares of common stock validly tendered at the price of $9.40 and not validly withdrawn based on the total number of shares reported to be tendered at $9.40 and not withdrawn prior to the expiration of the tender offer and accounting for “odd lot” priority and the conditional tender provisions of the tender offer. This preliminary proration factor is subject to change based on, among other things, the number of tendered shares which satisfy the guaranteed delivery procedures.

The number of shares expected to be purchased in the tender offer, the purchase price per share, the aggregate purchase price and the proration factor are preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the Depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the three trading day settlement period. The final number of shares to be purchased in the tender offer, the final purchase price per share, the final aggregate purchase price and the final proration factor will be announced following the expiration of the guaranteed delivery period and the completion by the Depositary of the confirmation process. Payment for the shares accepted for purchase pursuant to the tender offer, and the return of all other shares tendered and not purchased, will occur promptly thereafter.

The Company's tender offer was made pursuant to an Offer to Purchase and Letter of Transmittal, each dated May 8, 2017 and as amended May 18, 2017, in which the Company offered to purchase for cash up to 925,000 shares of its common stock, par value of $0.001 per share, at a price per share of not less than $9.40 nor greater than $10.80.

Important Notice

Investor questions concerning the tender offer may be directed to Georgeson LLC, the Information Agent for the offer at (866) 628-6024.

About the Company

Advanced Emissions Solutions, Inc., through our subsidiaries and joint ventures, is a leader in emissions control technologies and associated equipment, chemicals and services to customers in the coal-fired power generation industry. Our proprietary environmental technologies and specialty chemicals enable our customers to enhance existing air pollution control equipment, minimize mercury, acid gases, and other emissions, maximize capacity, and improve operating efficiency to meet the challenges of existing and pending emission control regulations.

Caution on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a “safe harbor” for such statements in certain circumstances. These forward-looking statements include the preliminary results, which are subject to change. You are cautioned not to place undue reliance on the forward-looking statements and to consult filings we have made and will make with the SEC for additional discussion concerning risks and uncertainties that may apply to our business and the ownership of our securities.

About Advanced Emissions Solutions, Inc.

Advanced Emissions Solutions, Inc. serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other industries.

ADA-ES, Inc. (“ADA”) is a wholly-owned subsidiary of Advanced Emissions Solutions, Inc. (“ADES”) that provides emissions control solutions for coal-fired power generation and industrial boiler industries. With more than 25 years of experience developing advanced mercury control solutions, ADA delivers proprietary environmental technologies, equipment and specialty chemicals that enable coal-fueled boilers to meet emissions regulations. These solutions enhance existing air pollution control equipment, maximizing capacity and improving operating efficiencies.   Our track record includes securing more than 30 US patents for emissions control technology and systems and selling the most activated carbon injection systems for power plant mercury control in North America. For more information on ADA, and its products and services, visit www.adaes.com or the ADA Blog (http://blog.adaes.com/).

Tinuum Group, LLC is a 42.5% owned joint venture by ADA that provides ADA’s patented Refined Coal CyClean™ technology to enhance combustion of and reduce emissions of NOx and mercury from coal in cyclone boilers and ADA’s patented M-45™ and patent pending M-45-PC™ technologies for Circulating Fluidized boilers and Pulverized Coal boilers respectively.  www.tinuumgroup.com

CONTACT: Investor Contact: Alpha IR Group Chris Hodges or Ryan Coleman 312-445-2870 ADES@alpha-ir.com
Categories: State

LINN Energy Announces Exit From California With Brea Asset Sale of $100 Million

7 June 2017 - 5:45am

HOUSTON, June 07, 2017 (GLOBE NEWSWIRE) -- LINN Energy, Inc. (OTCQB:LNGG) (“LINN” or the “Company”) announced today that it has signed a definitive agreement to sell its interest in properties located in the Los Angeles Basin to an undisclosed buyer for a contract price of $100 million, subject to closing adjustments, with an additional $7 million contingent payment if certain operational requirements are satisfied within one year. The net proceeds from the sale are expected to be added as additional cash on the Company’s balance sheet and will be used, in part, to fund our recently announced share repurchase program.

The California properties, consisting of approximately 2,000 net acres in the Brea-Olinda Field, are located in Orange and Los Angeles counties. First quarter net production was approximately 1,900 BOE/d, proved developed reserves are estimated to be ~17.6 MMBOE(1) with a proved developed PV-10 of approximately $126 million.(2) The Company forecasts full-year field level cash flow associated with these properties of approximately $21 million.(3) For the second half of the year, the Company had budgeted $2 million of capital for the development of these properties. This capital will be redeployed for the development of growth projects or added as additional cash on the balance sheet to be used to maximize shareholder returns.

“With the announcement of this sale, year-to-date, the Company has announced more than $1 billion of asset sales compared to a total proved developed PV-10 of approximately $717 million.(2) Pro forma for these transactions, LINN expects to extinguish all remaining outstanding debt and add cash on the balance sheet, which will be used to maximize shareholder returns, including funding our recently announced share repurchase program. The Company continues its transformative business plan by accelerating investment in key horizontal growth plays, focusing on operational efficiency and marketing the remaining non-core assets,” said Mark E. Ellis, President and Chief Executive Officer.

Evan Lederman, Chairman of the Board of Directors added, “The sale of our Brea assets completes our strategic exit from California.  Given the regulatory and operational complexities, the Board of Directors determined it is in the best interests of the Company to exit California and use the asset sale proceeds for more attractive and value maximizing initiatives.”

The transaction is expected to close by the end of July 2017, with an effective date of March 1, 2017, and is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions.

Tudor, Pickering, Holt & Co. and Jefferies LLC acted as co-financial advisors and Kirkland & Ellis LLP as legal counsel during the transaction.

(1) Proved developed reserves as of March 1, 2017, with updated pricing of $3.00 per MMBtu for natural gas and $50.00 per bbl for oil.
(2) PV-10 represents the present value, discounted at 10% per year, of estimated future net cash flows. The Company’s calculation of PV-10 herein differs from the standardized measure of discounted future net cash flows determined in accordance with the rules and regulations of the SEC in that it is calculated before income taxes with the pricing and timing assumptions noted in footnote (1).
(3) The non-GAAP financial measure of adjusted EBITDAX, as defined by the Company, may not be comparable to similarly titled measures used by other companies.  Therefore, this non-GAAP measure should be considered in conjunction with net income (loss) and other performance measures prepared in accordance with GAAP.  Adjusted EBITDAX should not be considered in isolation or as a substitute for GAAP. As previously disclosed, total company (LINN Energy, Inc.) projected adjusted EBITDAX for 2017 is $496 million and total expected capital expenditures for 2017 is $413 million based on pricing estimates of $3.33 per MMBtu for natural gas and $50.51 per bbl for oil.

ABOUT LINN ENERGY

LINN Energy, Inc. was formed in February 2017 as the reorganized successor to LINN Energy, LLC. Headquartered in Houston, Texas, the Company’s core focus is the upstream and midstream development of the SCOOP / STACK / Merge in Oklahoma. Additionally, the Company is pursuing emerging horizontal opportunities in the Mid-Continent, Rockies, North Louisiana and East Texas while continuing to add value by efficiently operating and applying new technology to a diverse set of long-life producing assets. More information about LINN Energy is available at www.linnenergy.com.

Forward-Looking Statements
Statements made in this press release that are not historical facts are “forward-looking statements.” These statements are based on certain assumptions and expectations made by the Company which reflect management’s experience, estimates and perception of historical trends, current conditions, and anticipated future developments. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or anticipated in the forward-looking statements. These include risks relating to financial performance and results, ability to improve our financial results and profitability following emergence from bankruptcy, ability to list our common stock on an established securities market, availability of sufficient cash flow to execute our business plan, ability to execute planned asset sales, continued low or further  declining commodity prices and demand for oil, natural gas and natural gas liquids, ability to  hedge future production, ability to replace reserves and efficiently develop current reserves, the regulatory environment and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. These and other important factors could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Please read “Risk Factors” in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other public filings. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information or future events.

CONTACT: CONTACT: Thomas Belsha, Vice President — Investor Relations & Corporate Development LINN Energy, Inc. (281) 840-4110 ir@linnenergy.com
Categories: State

Providence Resources P.l.c - Commercial Update Licensing Option 16/27 Southern Porcupine Basin

7 June 2017 - 1:01am

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Commercial Update
Licensing Option 16/27
Southern Porcupine Basin

  • PROVIDENCE & SOSINA SIGN FARM-IN AGREEMENT WITH TOTAL
    • TOTAL TO SECURE A 50% WORKING INTEREST AND OPERATORSHIP IN LO 16/27
    • CARRY FOR OPERATIONAL COSTS & CONTINGENT PROMOTED CARRY  FOR THE FIRST EXPLORATION WELL
       
  • PROVIDENCE & SOSINA SIGN OPTION AGREEMENT WITH CAIRN ENERGY
    • CAIRN SECURES AN OPTION OVER 20% WORKING INTEREST IN LO 16/27

Dublin and London - June 7, 2017 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company, provides a commercial update on Licensing Option ("LO") 16/27, which lies in c. 1,300 metre water depth in the southern Porcupine Basin and is located c. 150 kilometres off the south west coast of Ireland.  The Licencing Option is operated by Providence Resources P.l.c. ("Providence", 80%) on behalf of its partner Sosina Exploration Limited ("Sosina", 20%).  LO 16/27 contains the Paleocene "Avalon" exploration prospect. 

Farm-in Agreement with TOTAL for 50% Working Interest

Providence and Sosina have signed a Farm-in Agreement ("FIA") with TOTAL E&P Ireland B.V. ("TOTAL"), a wholly owned subsidiary of TOTAL S.A. In consideration for TOTAL taking a 50% working interest in LO 16/27, TOTAL will:

  • Pay its pro-rata share of past gross costs of c. US$ 0.175 million
  • In addition to its pro-rata share, pay 21.4% of the past and future costs during the 2-year term of LO 16/27, subject to a gross cost cap of US$ 1.33 million
  • Under the terms of the FIA, and subject to Ministerial approval, TOTAL will assume Operatorship of LO 16/27 and any subsequent licensing authorisations issued
  • In the event that the JV partners agree to convert LO 16/27 into a Frontier Exploration Licence, and a subsequent decision is taken to drill an exploration well, TOTAL will pay 60% of the drilling costs, subject to a gross well cap of US$ 42 million  

The TOTAL farm-in is subject to the approval of the Minister of Communications, Climate Action and Environment.  Subject to this, the resultant equity in LO 16/27 will be TOTAL (Operator - 50%), Providence (40%) and Sosina (10%).

Option Agreement with Cairn for 20% Working Interest
Providence and Sosina have signed an Option Agreement (the "Option") with Capricorn Ireland Limited ("Capricorn"), a wholly owned subsidiary of Cairn Energy PLC ("Cairn").  Under the terms of the Option, Capricorn has the right to farm-in to a 20% working interest in LO 16/27 from Providence & Sosina.  The Option can be exercised by Capricorn within 60 days of the completion (plugging and abandoning) of the upcoming 53/6-A well on Frontier Exploration Licence 2/14.

If Capricorn elects to exercise the Option, Providence, Sosina and Capricorn will enter into an agreed Farm-in Agreement ("FIA") to effect the transfer of a 20% working interest in FEL 2/14 to Capricorn, based on the following terms where Capricorn will: 

  • Pay its pro-rata share of past gross costs of up to US$ 0.175 million
  • In addition to its pro-rata share, pay 8.6% of the past and future costs during the 2-year term of LO 16/27, subject to a gross cost cap of US$ 1.33 million
  • In the event that the JV partners agree to convert LO 16/27 into a Frontier Exploration Licence, and a subsequent decision is taken to drill an exploration well, Capricorn will pay 24% of the drilling costs, subject to a gross well cap of US$ 42 million

In the event that Capricorn exercises the Option, the final equity would be TOTAL (Operator - 50%), Providence (24%), Capricorn (20%) and Sosina (6%). Conclusion of any farm-in by Cairn would be subject to the approval by the Minister of Communications, Climate Action and Environment. 

Speaking today, Tony O'Reilly, Chief Executive of Providence said:

"We are delighted to have agreed this farm-in transaction on Avalon with one of the world's leading E&P companies which provides further significant technical, financial and operational capability to the LO 16/27 joint venture group.  We are also pleased to announce this option agreement with Cairn. This further potential transaction would serve to create a common partnership with our nearby Druid block with which Avalon shares many geological similarities."

INVESTOR ENQUIRIES   Providence Resources P.l.c. Tel: +353 1 219 4074 Tony O'Reilly, Chief Executive Officer       Cenkos Securities plc Tel: +44 131 220 9771 Neil McDonald/Derrick Lee       J&E Davy Tel: +353 1 679 6363 Anthony Farrell       MEDIA ENQUIRIES   Powerscourt Tel: +44 207 250 1446 Lisa Kavanagh/Peter Ogden       Murray Consultants Tel: +353 1 498 0300 Pauline McAlester  

ABOUT PROVIDENCE RESOURCES
Providence Resources is an Irish based Oil and Gas Exploration Company with a portfolio of appraisal and exploration assets located offshore Ireland.  Providence's shares are quoted on AIM in London and the ESM in Dublin.

 

ABOUT TOTAL

Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. total.com

ABOUT CAIRN
Cairn Energy PLC is one of Europe's leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world. Cairn's business operations are focused on opportunities across a growing resource base in Senegal, the UK and Norway.  Cairn is headquartered in Edinburgh, Scotland with operational offices in London, Norway and Senegal.

ANNOUNCEMENT
This announcement has been reviewed by Dr John O'Sullivan, Technical Director, Providence Resources P.l.c. John is a geology graduate of University College, Cork and holds a Masters in Applied Geophysics from the National University of Ireland, Galway. He also holds a Masters in Technology Management from the Smurfit Graduate School of Business at University College Dublin and a doctorate in Geology from Trinity College Dublin. John is a Chartered Geologist and a Fellow of the Geological Society of London. He is also a member of the Petroleum Exploration Society of Great Britain, the Society of Petroleum Engineers and the Geophysical Association of Ireland. John has more than 25 years of experience in the oil and gas exploration and production industry having previously worked with both Mobil and Marathon Oil. John is a qualified person as defined in the guidance note for Mining Oil & Gas Companies, March 2006 of the London Stock Exchange. Definitions in this press release are consistent with SPE guidelines. SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in preparing this announcement.

ABOUT AVALON
Providence (80%) and Sosina (20%) were awarded Licensing Option 16/27 in July 2016 as part of the 2015 Atlantic Margin Licensing Round. During regional interpretation and mapping of vintage 2D seismic reflection data, Providence identified an areally extensive (c. 550 km2) north-south orientated Paleocene basin-floor channel and fan system ('Avalon') within the axial part of the Porcupine Basin. 

The Avalon system, which is located c. 2,500 metres BML, is interpreted to be sourced from the north of the basin and shales out in a southerly distal direction. A structural flexure down to the north negates the requirement for sandstone pinch out in the proximal direction, greatly improving reservoir sealing potential. The presence of a thick sandstone interval is indicated by compactional drape morphologies which are imaged within parts of the system.  The pre-existing Mesozoic structural grain appears to have exerted some control on deposition as evidenced by thickening of the system within pre-existing structural lows.

Whilst limited seismic reflection gather data were available during the evaluation phase, the available data suggest the potential for a depth-conformant amplitude versus offset ('AVO') anomaly similar to the nearby Druid prospect in FEL 2/14.  The main element of the agreed work programme during the 2-year Option period is the purchase, reprocessing and interpretation of existing 2D seismic reflection data.

Categories: State

Providence Resources P.l.c - Commercial Update Frontier Exploration Licence 2/14 Exclusive Option

7 June 2017 - 1:00am

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Commercial Update
Frontier Exploration Licence 2/14
Exclusive Option

  • PROVIDENCE & SOSINA GRANT EXCLUSIVE OPTION OVER FEL 2/14 TO TOTAL
     
  • PROVIDENCE & SOSINA TO RECEIVE PHASED CASH PAYMENTS OF US$ 27 MILLION
     
  • EXCLUSIVE OPTION GIVES TOTAL THE RIGHT TO FARM-IN TO A 35% INTEREST IN FEL 2/14

Dublin and London - June 7, 2017 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company, today announces that it has entered into an Exclusive Option (the "Option") with TOTAL E&P IRELAND B.V. ("TOTAL"), a wholly owned subsidiary of TOTAL S.A. regarding Frontier Exploration Licence ("FEL") 2/14.  FEL 2/14 lies in c. 2,250 metre water depth in the southern Porcupine Basin and is located c. 220 kilometres off the south west coast of Ireland.  The licence is operated by Providence Resources P.l.c. ("Providence", 56%) on behalf of its partners Capricorn Ireland Limited (a wholly owned subsidiary of Cairn Energy PLC, 30%) and Sosina Exploration Limited ("Sosina", 14%).  FEL 2/14 contains the Paleocene "Druid", Lower Cretaceous "Drombeg" and Jurassic "Diablo" exploration prospects.

Under the terms of the Option, TOTAL has the option and the right, but not the obligation, to farm-in to a 35% working interest in FEL 2/14 from Providence & Sosina subject to the payment of US$ 27 million to Providence and Sosina (US$ 21.6 million and US$ 5.4 million, respectively).   The Option can be exercised by TOTAL within 60 business days of the completion (plugging and abandoning) of the upcoming 53/6-A well, which is planned to spud in late June 2017 targeting the Druid and Drombeg prospects.

The total consideration to be paid by TOTAL to Providence & Sosina (on a pro rata 80/20 basis) to acquire the Option is as follows:

  • US$ 20.250 million (US$ 16.2 million to Providence) - payable within 10 business days of June 6, 2017
     
  • US$ 6.750 million (US$ 5.4 million to Providence) - payable no later than 3 business days following the issuance of the P&A notice for the 53/6-A well

If TOTAL subsequently elects to exercise the Option, Providence, Sosina and TOTAL will enter into an agreed form Farm-in Agreement to effect the transfer of a 35% working interest and Operatorship in FEL 2/14 to TOTAL.  Any farm-in would be subject to the approval by the Minister of Communications, Climate Action and Environment.

Speaking today, Tony O'Reilly, Chief Executive of Providence said:

"We are delighted to have agreed this Exclusive Option with one of the world's leading E&P companies.  Should TOTAL subsequently elect to exercise the Option and farm-in to FEL 2/14, the JV Partners will have the benefit of being operated by an industry leader in deep-water hydrocarbon exploration and development".

INVESTOR ENQUIRIES

Providence Resources P.l.c. Tel: +353 1 219 4074 Tony O'Reilly, Chief Executive Officer       Cenkos Securities plc Tel: +44 131 220 9771 Neil McDonald/Derrick Lee       J&E Davy Tel: +353 1 679 6363 Anthony Farrell       MEDIA ENQUIRIES   Powerscourt Tel: +44 207 250 1446 Lisa Kavanagh/Peter Ogden       Murray Consultants Tel: +353 1 498 0300 Pauline McAlester  

ABOUT PROVIDENCE RESOURCES
Providence Resources is an Irish based Oil and Gas Exploration Company with a portfolio of appraisal and exploration assets located offshore Ireland.  Providence's shares are quoted on AIM in London and the ESM in Dublin.

 

ABOUT TOTAL

Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. total.com

ANNOUNCEMENT
This announcement has been reviewed by Dr John O'Sullivan, Technical Director, Providence Resources P.l.c. John is a geology graduate of University College, Cork and holds a Masters in Applied Geophysics from the National University of Ireland, Galway. He also holds a Masters in Technology Management from the Smurfit Graduate School of Business at University College Dublin and a doctorate in Geology from Trinity College Dublin. John is a Chartered Geologist and a Fellow of the Geological Society of London. He is also a member of the Petroleum Exploration Society of Great Britain, the Society of Petroleum Engineers and the Geophysical Association of Ireland. John has more than 25 years of experience in the oil and gas exploration and production industry having previously worked with both Mobil and Marathon Oil. John is a qualified person as defined in the guidance note for Mining Oil & Gas Companies, March 2006 of the London Stock Exchange.  Definitions in this press release are consistent with SPE guidelines. SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in preparing this announcement.

Categories: State

TerraForm Power Announces Court Approval of Settlement of Intercompany Claims with SunEdison

6 June 2017 - 6:50pm

BETHESDA, Md., June 06, 2017 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (Nasdaq:TERP) (“TerraForm Power” or the “Company”), an owner and operator of clean energy power plants, today announced that the U.S. Bankruptcy Court for the Southern District of New York authorized and approved the entry by SunEdison, Inc. and its debtor subsidiaries (together “SunEdison”) into the previously announced settlement agreement and voting and support agreement with TerraForm Power, as well as the performance by SunEdison of its obligations under these agreements. This Bankruptcy Court approval is a condition to the completion of TerraForm Power’s sponsorship transaction with Brookfield. The terms of the settlement agreement, voting support agreement and Brookfield sponsorship transaction were previously announced on March 7, 2017 and copies of the settlement agreement, voting support agreement and merger and sponsorship transaction agreement with Brookfield and descriptions of their material terms are included in the Company’s Current Report on Form 8-K filed on March 7, 2017.

“Bankruptcy Court approval is a key condition to the closing of the sponsorship transaction with Brookfield,” said Peter Blackmore, Chairman and Interim Chief Executive Officer of TerraForm Power.  “We look forward to completing the remaining conditions to the closing of the sponsorship transaction.”

The TerraForm Power Board of Directors previously approved the settlement agreement upon the recommendation of the Corporate Governance and Conflicts Committee, each member of which is independent and does not also serve on the Board of Directors of TerraForm Global, Inc.

The Brookfield sponsorship transaction is subject to certain closing conditions, including shareholder approval by the majority of Class A shareholders (excluding SunEdison, Brookfield, their respective affiliates and any persons with whom they comprise a “group” for securities law purposes), and regulatory approvals.

About TerraForm Power

TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit: www.terraformpower.com.

Cautionary Note 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. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” “goal,” “guidance,” “outlook,” “objective,” “forecast,” “target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases.

Such statements include, without limitation, statements regarding the terms, timing or likelihood of, or satisfaction of conditions to, the completion of the sponsorship transaction with Brookfield, the effectiveness of the settlement agreement upon the completion of the sponsorship transaction with Brookfield and SunEdison’s support of the sponsorship transaction with Brookfield. These forward-looking statements are based on current expectations as of the date of this press release and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to: risks related to the effectiveness of the settlement agreement or the Company’s ability to satisfy the conditions to the completion of the sponsorship transaction with Brookfield in a timely manner or at all, including receipt of requisite governmental and shareholder approvals; risks related to other events or circumstances that may give rise to termination of the sponsorship transaction; risks related to retaining key personnel and diversion of management time from ongoing business operations; the risk that announcements related to the sponsorship transaction could have an adverse effect on the market price of TerraForm Power’s Class A common stock; as well as additional factors we have described in our filings with the Securities and Exchange Commission.

The risks included above are not exhaustive. Other factors that could adversely affect our business and prospects are described in the filings made by us with the Securities and Exchange Commission and include risks that are beyond the Company’s control. 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.

CONTACT: Contacts Investors: Brett Prior TerraForm Power investors@terraform.com Media: Meaghan Repko / Joseph Sala Joele Frank, Wilkinson Brimmer Katcher media@terraform.com (212) 355-4449
Categories: State

Glenville State College Saves Energy and Resources

6 June 2017 - 4:30pm

GLENVILLE, W.Va., June 06, 2017 (GLOBE NEWSWIRE) -- Energy savings data reports indicate that Glenville State College (GSC) exceeded the anticipated impact of its campus-wide energy efficiency and facility modernization project by approximately $184,000 in the first two years since the project’s completion.

Underscoring its commitment to advancing education, economic growth, and community development, Glenville State College selected Energy Systems Group (ESG), a leading energy service provider, to implement the largest campus-wide improvement project in GSC’s history. The $4.1 million project, completed in 2014, included comprehensive energy efficiency and building improvements to reduce energy costs, modernize building systems and technologies, and enhance the environment.

Working with local subcontractors and vendors, Energy Systems Group implemented a wide range of energy efficiency and infrastructure improvements in 13 campus buildings, spanning approximately 608,500 square feet, including the President’s House and the Community Center. The improvements, expected to result in more than $176,000 of energy savings annually over the 15-year term of the contract, included lighting upgrades, heating, ventilation, and air-conditioning system upgrades, window replacements, a demand response program, and the conversion of gas wells to feed GSC facilities directly.

By implementing these key facility modernization measures, Glenville State College will reduce its carbon footprint by more than 1,600 metric tons of carbon dioxide, which is equivalent to generating enough electricity to power more than 150 homes or planting more than 1,300 acres of forest.

“This is an excellent result for Glenville State College, both financially and environmentally,” said Dr. Peter Barr, President of Glenville State College. “Energy Systems Group has done a great job helping us reach our goal of being a more energy-efficient and sustainable campus,” added Barr. “These improvements, which were primarily funded by energy savings, allowed Glenville State College to enhance the learning environment for students and more efficiently allocate financial resources, all while becoming a more environmentally responsible campus.” “ESG was also instrumental in helping GSC qualify for a zero percent $1 million loan through the West Virginia Higher Education Policy Commission.”

“It’s really no surprise that this project is delivering as promised and more,” said Tom Ratliff, Executive Director of the Physical Plant for Glenville State College. “Our facilities are not only more comfortable to be in, yet these improvements have also dramatically improved the aesthetics of campus buildings, and helped us achieve a solid foundation for continuing sustainability efforts.”

“We commend Dr. Barr and the Glenville State College facilities team for pioneering this innovative approach and vision to making GSC a more sustainable, modernized, and environmentally responsible campus,” said Audra Blackwell, ESG Business Development Manager. “ESG is proud to be part of GSC’s continued academic success and to help promote energy conservation and facility modernization on campus.”

To learn more about the Glenville State College energy efficiency project, visit www.energysystemsgroup.com/gsc.

Energy Systems Group (ESG), a wholly-owned subsidiary of Vectren Corporation (NYSE:VVC), is a leading energy services provider that specializes in energy efficiency, sustainability, and infrastructure improvement solutions in the government, education, healthcare, commercial, and industrial sectors. ESG also offers a full range of sustainable infrastructure solutions including waste-to-energy, distributed generation, and renewable energy. To learn more about ESG, visit www.energysystemsgroup.com.

CONTACT: MEDIA CONTACTS Meram El Ramahi, Energy Systems Group Tel: (812) 492-3734 Email: mramahi@energysystemsgroup.com
Categories: State

Targa Resources Corp. to Participate in the 2017 Bank of America Merrill Lynch Energy Credit Conference

6 June 2017 - 3:34pm

HOUSTON, June 06, 2017 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in the Bank of America Merrill Lynch Energy Credit Conference on Wednesday, June 7, 2017 in New York City.

The materials used at the conference will be accessible on the Events and Presentations section of the Company’s website at www.targaresources.com, or by going to http://ir.targaresources.com/trc/events.cfm, on Wednesday, June 7, beginning at 6 a.m. Eastern Daylight Time (5 a.m. Central Daylight Time).

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America. Targa owns, operates, acquires, and develops a diversified portfolio of complementary midstream energy assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling NGLs and NGL products, including services to LPG exporters; gathering, storing, and terminaling crude oil; storing, terminaling, and selling refined petroleum products.

For more information, please go to www.targaresources.com.

CONTACT: Contact investor relations by phone at (713) 584-1133. Sanjay Lad Director – Investor Relations Jennifer Kneale Vice President - Finance
Categories: State

Sky Solar Holdings, Ltd. Announces the Call of an Extraordinary Shareholders Meeting, and Change of Management and Appointment of an Independent Director

6 June 2017 - 1:36pm

HONG KONG, June 06, 2017 (GLOBE NEWSWIRE) -- Sky Solar Holdings, Ltd. (NASDAQ:SKYS) (“Sky Solar” or “the Company”), a global developer, owner and operator of solar parks, today announced that its Chairman of the Board of Directors of the Company, Mr. Weili Su called for an extraordinary shareholders meeting.  In addition, in a board meeting held later on the same day, the Company named Mr. Hao Wu as the new Chairman of the Board of Directors of the Company, replacing Mr. Su, effective immediately.  Mr. Su will also no longer serve as the Company’s Chief Executive Officer, or as director, officer, manager, legal representative or in any other management position of the Company’s subsidiaries or any other consolidated entities.  Mr. Su remains as a director of the Company.  The Company has set up an executive committee, members of which include Mr. Hao Wu, Mr. Xinhua Yu and Mr Xiaoguang Duan, and is actively searching for candidates for vacated management positions.  The Company is looking for the right candidates that can deliver on growth objectives in the Company’s target markets, primarily including Japan and Americas region. The Company expects to hold a conference call with investors in the near future.

In addition to the management changes, Mr. Andrew Y. Yan has resigned as an independent director of the Company effective June 2, 2017. Mr. Yan resigned for personal reasons. Mr. Glen Wei was appointed as an independent director of the Company and the Company is actively searching for other suitable independent director candidates to join the Board. Mr. Glen Wei meets the independence requirements under the applicable rules of the SEC and the NASDAQ Stock Market. Mr. Glen Wei has also been appointed to serve on the audit committee, the nominating and corporate governance committee and the compensation committee of the Board of Directors.

Mr. Hao Wu has been our director since July 2012. Dr. Wu is a Chartered Financial Analyst registered with the CFA Institute since December 1998 and a member of the New York Society of Securities Analysts since April 2002. He has served as president of The Chinese Finance Association (TCFA). Since August 2005, Dr. Wu has been managing partner and chief executive officer of Sino Century. Prior to that, Dr. Wu advised AIG Global Investments as senior financial analyst from January 1997 to August 2000. He had broad responsibilities including advising AIG companies in Asia and Europe on investment and risk management strategies. He was also managing director and Head of Global Financial Products of Radian Group from October 2000 to August 2005. Dr. Wu was awarded a Bachelor of Science (Physics) by Fudan University in July 1988. He was also awarded a Doctorate in Electrical Engineering and a Master of Business Administration in Finance by the University of Southern California in December 1996 and May 1996, respectively. Dr. Wu completed a course on leading professional service firms at Harvard Business School in March 2005.

Mr. Glen Wei is a partner at Dentons, a global law firm. Mr. Wei’s practice covers tax consultancy, planning, diligence and dispute resolutions, as well as cross-border investments, mergers and acquisitions, trades and related legal services. Mr. Wei has extensive experience in audit work for listed companies, and his clients include companies in telecommunications, technology, real estate, construction, agriculture and other industries. Mr. Wei is a member of China bar and California and New York bar. He is also a CPA in the United States (California) and China and Certified Tax Agent in China.

About Sky Solar Holdings, Ltd.

Sky Solar is a global independent power producer (“IPP”) that develops, owns, and operates solar parks and generates revenue primarily by selling electricity. Since its inception, Sky Solar has focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. The Company's broad geographic reach and established presence across key solar markets are significant differentiators that provide global opportunities and mitigate country-specific risks. Sky Solar aims to establish operations in select geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, Sky Solar is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements. As of December 31, 2016, the Company had developed 307 solar parks with an aggregate capacity of 292.3 MW and owned and operated 159.6 MW of solar parks.

CONTACT: For investor and media inquiries, please contact: Sky Solar: IR@skysolarholding.com SKYS Investor Relations: The Blueshirt Group US or Mandarin Ralph Fong +1 (415) 489-2195 ralph@blueshirtgroup.com China Gary Dvorchak, CFA +86 (138) 1079-1480 gary@blueshirtgroup.com
Categories: State

Petroleum Geo-Services ASA: Settlement of 2014 PRSU Program

6 June 2017 - 1:16pm

1. Settlement

The 2014 Performance based Restricted Stock Unit ("PRSU") program settled on
June 6, 2017. Employees in Petroleum Geo-Services ASA and subsidiaries ("PGS" or "the Company") have received a total number of 642 900 shares. Following the transaction, 642 900 shares will be transferred from the Company's holding of own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 45 264 own shares.

2. Receipt of shares by primary insiders

Out of the abovementioned shares, the following were received by primary insiders:

Jon Erik Reinhardsen has received 36 000 shares in the Company.

Gottfred Langseth has received 21 600 shares in the Company.

Guillaume Cambois has received 21 600 shares in the Company.

Sverre Strandenes has received 21 600 shares in the Company.

Per Arild Reksnes has received 21 600 shares in the Company.

Magne A. Reiersgard has received 21 600 shares in the Company.

Rune Olav Pedersen has received 9 600 shares in the Company.

Terje Bjølseth has received 9 600 shares in the Company.

Joanna Oustad has received 9 600 shares in the Company.

Berit Osnes has received 6 000 shares in the Company.

David J. Dakin has received 3 000 shares in the Company.

Anette Valbø has received 2 700 shares in the Company.

Christin Steen-Nilsen has received 2 700 shares in the Company.

Bård Stenberg has received 2 350 shares in the Company.

Kai Reith has received 2 150 shares in the Company.

Hege Renshus has received 1 200 shares in the Company.

3. Sale of shares

On June 6th, the primary insiders mentioned below ordered for the received shares to be immediately sold by a third party.

The sales amount was determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. All primary insiders
mentioned below sold their shares for a price of NOK 16.9768.

Guillaume Cambois has sold 6 079 shares in the Company.

Sverre Strandenes has sold 10 638 shares in the Company.

Per Arild Reksnes has sold 10 855 shares in the Company.

Magne A. Reiersgard has sold 6 774 shares in the Company.

David J. Dakin has sold 3 000 shares in the Company.

Christin Steen-Nilsen has sold 1 280 shares in the Company.

Anette Valbø has sold 1 280 shares in the Company.

4. New holding

After completion of the above mentioned transactions, Jon Erik Reinhardsen holds 210 000 PRSU/RSU in the Company. As of today the primary insider holds 346 574 shares in the Company.

After completion of the above mentioned transactions, Gottfred Langseth holds 90 000 PRSU/RSU in the Company. As of today the primary insider holds 150 106 shares in the Company.

After completion of the above mentioned transactions, Guillaume Cambois holds 90 000 PRSU/RSU in the Company. As of today the primary insider holds 162 817
shares in the Company.

After completion of the above mentioned transactions, Sverre Strandenes holds 90 000 PRSU/RSU in the Company. As of today the primary insider holds 64 583
shares in the Company.

After completion of the above mentioned transactions, Per Arild Reksnes holds 90 000 PRSU/RSU in the Company. As of today the primary insider holds 59 263
shares in the Company.

After completion of the above mentioned transactions, Magne A. Reiersgard holds 90 000 PRSU/RSU in the Company. As of today the primary insider holds 61 189
shares in the Company.

After completion of the above mentioned transactions, Rune Olav Pedersen holds 115 000 PRSU/RSU in the Company. As of today the primary insider holds 32 617
shares in the Company.

After completion of the above mentioned transactions, Terje Bjølseth holds 40 000 PRSU/RSU in the Company. As of today the primary insider holds 47 088
shares in the Company.

After completion of the above mentioned transactions, Joanna Oustad holds 40 000 PRSU/RSU in the Company. As of today the primary insider holds 56 034
shares in the Company.

After completion of the above mentioned transactions, Berit Osnes holds 20 000 PRSU/RSU in the Company. As of today the primary insider holds 21 186
shares in the Company.

After completion of the above mentioned transactions, David J. Dakin holds 12 000 PRSU/RSU in the Company. As of today the primary insider holds 7 753
shares in the Company.

After completion of the above mentioned transactions, Bård Stenberg holds 16 500 PRSU/RSU in the Company. As of today the primary insider holds 6 936
shares in the Company.

After completion of the above mentioned transactions, Anette Valbø holds 10 000 PRSU/RSU in the Company. As of today the primary insider holds 7 142 shares in
the Company.

After completion of the above mentioned transactions, Christin Steen-Nilsen holds 10 000 PRSU/RSU in the Company. As of today the primary insider holds
7 012 shares in the Company.

After completion of the above mentioned transactions, Kai Reith holds 14 000 PRSU/RSU in the Company. As of today the primary insider holds 9 341 shares in the Company.

After completion of the above mentioned transactions, Hege Renshus holds 4 400 PRSU/RSU in the Company. As of today the primary insider holds 1 918 shares in the Company.


This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Categories: State

Sunrun Announces Plans to Re-Enter Nevada Solar Market

6 June 2017 - 12:41pm

SAN FRANCISCO, June 06, 2017 (GLOBE NEWSWIRE) -- Encouraged by popular demand, the Nevada Assembly and Senate passed Assembly Bill 405 nearly unanimously to restore the rooftop solar market in Nevada by reinstating solar net metering. The bill awaits Governor Sandoval’s signature, expected this week.

“The near unanimous bipartisan support for legislation to reinstate net metering and establish a bill of rights for solar customers is a reflection of overwhelming public demand for affordable, clean energy options,” said Lynn Jurich, Chief Executive Officer and Co-Founder of Sunrun. “Thanks to the hard work of Governor Sandoval and Nevada State Legislators, we can now say with confidence that Sunrun is coming back to Nevada.”

Nevada’s solar industry came to a halt in late 2015 when new rules limited the credit rooftop solar customers would receive for the clean energy they provide to the grid. The abrupt shift in regulations forced Sunrun to cease operations in the state, leading to the elimination of hundreds of local jobs.

AB 405 immediately restores the right of homeowners in Nevada to be credited based on the retail rate for the energy they produce and export to the grid. The bill steps down net metering credit rates for homeowners as more solar is installed, reversing the abrupt and extreme reduction imposed on solar customers in 2015. Additionally, AB 405 establishes a bill of rights for homeowners, ensuring that utilities cannot burden customers with unexpected fees, and provides strong standards for transparent sales practices. It also gives solar customers certainty by grandfathering their net metering credit rates for 20 years and protecting them from being unfairly singled out for fees and charges not applicable to other residential customers.

About Sunrun

Sunrun (Nasdaq:RUN) is the nation’s largest dedicated residential solar, storage and energy services company with a mission to create a planet run by the sun. Since establishing the solar as a service model in 2007, Sunrun leads the industry in providing clean energy to homeowners with little to no upfront cost and at a savings to traditional electricity. The company designs, installs, finances, insures, monitors and maintains the systems, while families receive predictable pricing for 20 years or more. The company also offers Sunrun BrightBox™ solar power generation with smart inverter technology and home battery storage. For more information, please visit: www.sunrun.com.

CONTACT: Media Contact: Trina Smith Trina.Smith@sunrun.com 425.269.4636
Categories: State

American Power Group Announces Corporate Realignment And Senior Management Changes

6 June 2017 - 12:22pm

- Migration To A Technology Licensing and Master Distributorship Model Versus Direct Sale Approach To Be Implemented -
- CFO Chuck Coppa To Assume Additional Role as CEO  -
- Commitment For Additional Capital Secured From Several Existing Investors –
- Investors Agree To Defer Automatic Conversion of Contingent Convertible Notes Into Series E Preferred  -

LYNNFIELD, Mass., June 06, 2017 (GLOBE NEWSWIRE) -- American Power Group Corporation (OTCQB:APGI), today announced a corporate wide realignment of its strategic direction, reallocation of resources and reduction in workforce.

Neil Braverman, APG’s Chairman stated, “Delays in customer orders resulting from the continuing impact of low priced domestic oil has forced us to reevaluate how we market our dual fuel technology given the realities of the marketplace and our access to near term capital. Our Board of Directors have made the decision to terminate our Chief Executive Officer, Lyle Jensen and realign our business model and overhead structure to better reflect the current market realities. Mr. Jensen also resigned from our Board of Directors.  Chuck Coppa, our CFO has assumed the additional title of Chief Executive Officer and will be working with a core group of employees and our Board of Directors to realign our business model.”

Chuck Coppa, APG’s CEO/CFO stated, “The true value of APG is the fact we can deliver our customers a low cost, reliable and proven emission reduction technology across multiple markets and geographies. We believe that by pursuing a less capital (human and financial) intensive approach of marketing our industry leading dual fuel technology through licensing relationships or master distributorships we can leverage our partners' existing market dominance and resources to allow us to pivot more quickly on opportunities and open new and larger markets without the need to expend significant capital resources.” Mr. Coppa noted, “While we will continue to support, on a cost effective basis our direct sale approach, we will be focusing our corporate resources towards situations where we see the quickest opportunities for near term revenue and for the time being, deferring efforts in areas where we see the path to revenue realization taking longer than we are willing to wait.”

Mr. Coppa added, “Several holders of our $2.6 million Contingent Convertible Notes, including entities related to several of our Board members have agreed to provide additional capital this week in support of our new approach and have also agreed to defer the automatic conversion of these notes into the proposed Series E Preferred Stock until July 27, 2017. They have also expressed a willingness to consider modifying their existing terms to accommodate and support management’s immediate effort to secure additional capital on less dilutive terms.”

Mario Blanco, APG’s Vice President of International Sales stated, “Latin America, particularly Mexico, represents an immediate opportunity for us on multiple levels given the significant and immediate economic and emission benefits associated with using natural gas in lieu of diesel. In January 2017, the Mexican government eliminated certain fuel subsidies for diesel and gasoline resulting in a 15% - 20% increase in diesel fuel prices adding to an already very favorable price spread.” Mr. Blanco added, “Mexican officials report a multi-billion dollar investment is being made in expanding the natural gas pipeline infrastructure, adding hundreds of natural gas fueling stations in the next few years providing us with multiple potential licensee opportunities.”

About American Power Group Corporation
American Power Group’s subsidiary, American Power Group, Inc. provides cost effective products and services that promote the economic and environmental benefits of our alternative fuel and emission reduction technologies. Our patented Turbocharged Natural Gas® Dual Fuel Conversion Technology is a unique non-invasive software driven solution that converts existing vehicular and stationary diesel engines to run concurrently on diesel and various forms of natural gas including compressed natural gas, liquefied natural gas, conditioned well-head/ditch gas or bio-methane gas with the flexibility to return to 100% diesel fuel operation at any time. Depending on the fuel source and operating profile, our EPA and CARB approved dual fuel conversions seamlessly displace 45% - 65% of diesel fuel with cleaner burning natural gas resulting in measurable reductions in nitrogen oxides (NOx) and other diesel-related emissions. See additional information at: www. americanpowergroupinc.com   

Caution Regarding Forward-Looking Statements and Opinions
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to new markets, development and introduction of new products, and financial and operating projections. These forward-looking statements and opinions are neither promises nor guarantees, but involve risk and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements and opinions. These risk factors include, but are not limited to, the fact that, our dual fuel conversion business has lost money in the last seven consecutive fiscal years and our flare gas capture and recovery business has yet to generate measurable revenues, the risk that we may require additional financing to grow our business, the fact that we rely on third parties to manufacture, distribute and install our products, we may encounter difficulties or delays in developing or introducing new products and keeping them on the market, we may encounter lack of product demand and market acceptance for current and future products, we may encounter adverse events or economic conditions, we operate in a competitive market and may experience pricing and other competitive pressures, we are dependent on governmental regulations with respect to emissions, including whether EPA approval will be obtained for future products and additional applications, the risk that we may not be able to protect our intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, the fact that our stock is thinly traded and our stock price may be volatile, the fact that we have preferred stock outstanding with substantial preferences over our common stock, the fact that the conversion of the preferred stock and the exercise of stock options and warrants will cause dilution to our shareholders, the fact that we incur substantial costs to operate as a public reporting company and other factors that are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 30, 2016 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements and opinions that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

CONTACT: Investor Relations Contacts: Chuck Coppa, CFO American Power Group Corporation 781-224-2411 ccoppa@americanpowergroupinc.com  Mike Porter Porter, LeVay, & Rose, Inc. 212-564-4700 mike@plrinvest.com
Categories: State

Statoil ASA: Election to Statoil's board of directors

6 June 2017 - 12:04pm

In a meeting in the Corporate Assembly of Statoil ASA (OSE:STL, NYSE:STO) on 6 June 2017 Jon Erik Reinhardsen was elected as new chair of Statoil's board of directors.

Chair of the board Øystein Løseth had informed the nomination committee that he did not wish to stand for re-election in 2017, as he wants to return to a career seeking more operational positions. Roy Franklin was re-elected as deputy chair and Wenche Agerup, Bjørn Tore Godal, Rebekka Glasser Herlofsen, Maria Johanna Oudeman and Jeroen van der Veer as members of the board of directors.

Jon Erik Reinhardsen has been the Chief Executive Officer of Petroleum Geo-Services (PGS) since 2008. Reinhardsen will leave his position in PGS as of 31 August 2017, and has been elected as new chair of the Statoil board from 1 September 2017 and until the ordinary election of shareholder-elected members to the board of directors in 2018. The corporate assembly endorsed that the deputy chair of the board, Roy Franklin, will function as the acting chair of the board in an interim period from 1 July, when Løseth leaves the board of directors, and until and including 31 August.

The re-election of Roy Franklin, Wenche Agerup, Bjørn Tore Godal, Rebekka Glasser Herlofsen, Maria Johanna Oudeman and Jeroen van der Veer enters into effect from 1 July 2017 and until the ordinary election of shareholder-elected members to the board of directors in 2018. All candidates were elected in accordance with the proposal from the nomination committee.

Furthermore, the corporate assembly re-elected Ingrid Di Valerio and Stig Lægreid as employee-elected members of Statoil's board of directors. Per Martin Labråthen was elected as a new employee-elected member. Hans Einar Haldorsen, Per Steinar Stamnes and Jorunn Birkeland (with this priority) were elected as deputy members for the employee-elected board members.

The employee-elected members to the board of directors enters into effect from 8 June 2017 and until the ordinary election of employee-elected members to the board of directors in 2019.

Contacts:

  • Tone Lunde Bakker, chair of the nomination committee
  • All enquiries to be directed through Statoil Corporate Press Office, Bård Glad Pedersen, +47 918 01 791. 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Categories: State

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