Global Infrastructure Partners

Hess Midstream LP Reports Estimated Results for the First Quarter of 2024

Retrieved on: 
Thursday, April 25, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Global Infrastructure Partners, Capital, Hess Corporation, Capital expenditure, Sponsor, Growth, Water, General partnership, GAAP, Petroleum

Hess Midstream LP (NYSE: HESM) (“Hess Midstream” or the "company") today reported first quarter 2024 net income of $161.9 million compared with net income of $142.2 million for the first quarter of 2023.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream” or the "company") today reported first quarter 2024 net income of $161.9 million compared with net income of $142.2 million for the first quarter of 2023.
  • We refer to certain results as “attributable to Hess Midstream LP,” which exclude the noncontrolling interests in Hess Midstream Operations LP owned by the Sponsors.
  • Revenues and other income in the first quarter of 2024 were $355.6 million compared with $305.0 million in the prior‑year quarter.
  • For 2025 and 2026, Hess Midstream continues to expect organic throughput volume growth across all systems relative to 2024 volume guidance.

Hess Reports Estimated Results for the First Quarter of 2024

Retrieved on: 
Thursday, April 25, 2024
Energy, Natural Resources, Other Natural Resources, Oil, Gas, Corporation, JDA, NGL, Midstream, Global Infrastructure Partners, Class, Interest, Barrel, Water, Hess Corporation, Uaru, GAAP, Growth, Petroleum

Gulf of Mexico (Offshore U.S.): Net production from the Gulf of Mexico in the first quarter of 2024 was 31,000 boepd, compared with 33,000 boepd in the prior-year quarter.

Key Points: 
  • Gulf of Mexico (Offshore U.S.): Net production from the Gulf of Mexico in the first quarter of 2024 was 31,000 boepd, compared with 33,000 boepd in the prior-year quarter.
  • Guyana (Offshore): At the Stabroek Block (Hess – 30%), net production totaled 190,0001 bopd in the first quarter of 2024, compared with 112,0001 bopd in the prior-year quarter.
  • In the first quarter of 2024, 15 cargos of crude oil were sold from Guyana, compared with nine cargos in the prior-year quarter.
  • Midstream capital expenditures were $35 million in the first quarter of 2024 and $57 million in the prior-year quarter.

Engineering Tomorrow Receives Support From Growing Number of Corporate Partners

Retrieved on: 
Wednesday, April 10, 2024
Engineering, Other Energy, Utilities, Oil, Gas, Manufacturing, Energy, Other Education, Primary, Secondary, Education, Global Infrastructure Partners, School, GE Infrastructure, Transport, Carbon, STEM, Intelligence, Workforce, Tomorrow, Social responsibility, Student, Organization, Management

These contributions follow Engineering Tomorrow’s recent transition from a privately owned and operated foundation into a public charity with support from a growing list of corporate and academic partners.

Key Points: 
  • These contributions follow Engineering Tomorrow’s recent transition from a privately owned and operated foundation into a public charity with support from a growing list of corporate and academic partners.
  • Engineering Tomorrow was founded in 2014 by Bill Woodburn, former CEO of GE Infrastructure and a Founding Partner of Global Infrastructure Partners, to educate students about engineering career paths and meet increasingly urgent talent gaps.
  • I am impressed with how Engineering Tomorrow takes on this responsibility and the achievements I’m seeing as a result.
  • We are pleased to align with Engineering Tomorrow, advancing our corporate social responsibility and actively contributing to the cultivation of engineering talent, particularly within underrepresented communities."

GIP Australia Fund II Announces A$4.0 Billion Final Closing

Retrieved on: 
Tuesday, April 9, 2024
Banking, Asset Management, Professional Services, Finance, GIPA, GIP, Global Infrastructure Partners, Investment, Fund, Renewable energy

Global Infrastructure Partners (“GIP”), a leading infrastructure investor, announced today that the GIP Australia Fund II (“GIPA II” or “the Fund”) has completed fundraising with aggregate committed capital of A$4.0 billion, at the upper end of the target A$3.0 – 4.0 billion range.

Key Points: 
  • Global Infrastructure Partners (“GIP”), a leading infrastructure investor, announced today that the GIP Australia Fund II (“GIPA II” or “the Fund”) has completed fundraising with aggregate committed capital of A$4.0 billion, at the upper end of the target A$3.0 – 4.0 billion range.
  • A number of these investors also participated in the GIP Australia Fund I and account for nearly half of GIPA II’s commitments.
  • GIPA II is a dedicated Australasia-focused open-ended fund that extends GIP’s Flagship equity strategy to opportunities across the region.
  • “Australia has always been an important market for GIP and our Australia Fund Platforms are an important and natural extension of our global reach.

EQS-News: Søren Skou appointed as Chair of the Advisory Board of Skyborn Renewables

Retrieved on: 
Wednesday, April 10, 2024
Partnership, GIP, Global Infrastructure Partners, Advisory board, Growth, Acquisition

Søren Skou, the former Chief Executive Officer (CEO) of A.P.

Key Points: 
  • Søren Skou, the former Chief Executive Officer (CEO) of A.P.
  • Moller-Maersk (“Maersk”), has joined Skyborn Renewables (“Skyborn”) as Chair of the Advisory Board.
  • “We are delighted to welcome Søren to Skyborn.
  • “I am very pleased to join Skyborn,” said Skou.

Hess Midstream LP Announces Signing of Accretive $100 Million Sponsor Unit Repurchase

Retrieved on: 
Tuesday, March 12, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Hess Corporation, Class, Global Infrastructure Partners, Petroleum

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”).

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”).
  • Hess Midstream Operations LP, Hess Midstream’s consolidated subsidiary, agreed to repurchase 2,816,901 Class B units of Hess Midstream Operations LP, equal to approximately 1.2% of the consolidated company, held by the Sponsors for an aggregate purchase price of approximately $100 million.
  • After completing the unit repurchase transaction, ownership of Hess Midstream on a consolidated basis will be approximately 35.4% for the public, 26.8% for Global Infrastructure Partners and 37.8% for Hess Corporation.
  • Hess Midstream expects to fund the unit repurchase through borrowings under its existing revolving credit facility.

Global Infrastructure Partners Announces Total $2.1 Billion Final Closing of Its Inaugural Emerging Markets Fund

Retrieved on: 
Tuesday, March 5, 2024
Banking, Asset Management, Professional Services, Finance, Market, Investment, Emerging market, GIP, Global Infrastructure Partners, Fund, Insurance, Pension fund

Global Infrastructure Partners (GIP), a leading infrastructure investor, announced today that GIP Emerging Markets Fund I (“GIP EM” or “the Fund”) has completed fundraising for aggregate committed capital of more than $2.1 billion.

Key Points: 
  • Global Infrastructure Partners (GIP), a leading infrastructure investor, announced today that GIP Emerging Markets Fund I (“GIP EM” or “the Fund”) has completed fundraising for aggregate committed capital of more than $2.1 billion.
  • The Fund garnered significant support from GIP’s existing investor base while also attracting new investors with a specific interest in emerging markets infrastructure.
  • GIP Emerging Markets Fund I is a dedicated emerging markets-focused fund that extends GIP’s Flagship equity strategy to opportunities in 11 Target Countries in Asia and Latin America.
  • “We are extremely gratified by the confidence that EM Fund investors have placed in us,” said James Amine, GIP Partner and Head of Emerging Markets.

SunPower Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, February 15, 2024
SunPower, Global Infrastructure Partners, FY, TotalEnergies, Adjustment

"With the recent infusion of capital, SunPower is focused on driving positive free cash flow and profitability," said Peter Faricy, SunPower CEO.

Key Points: 
  • "With the recent infusion of capital, SunPower is focused on driving positive free cash flow and profitability," said Peter Faricy, SunPower CEO.
  • "This is a new opportunity for SunPower to reinforce our strong foundation as we continue to navigate an uncertain market in early 2024.
  • With this funding and industry tailwinds of extended tax credits and lower equipment costs, we believe SunPower is positioned to execute on maximizing the value proposition of solar and storage for our customers."
  • We will provide additional guidance later in the year, after we assess the implications of the recapitalization and restructuring."

SunPower Secures Additional Capital to Drive Ongoing Transformation

Retrieved on: 
Thursday, February 15, 2024
SunPower, Global Infrastructure Partners, Sol, Q&A, TotalEnergies, Security (finance)

RICHMOND, Calif., Feb. 15, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR) (the "Company" or "SunPower"), a leading residential solar technology and energy services company, today announced that it has raised $175 million in capital financing through a second lien term loan from Sol Holding, LLC ("Sol Holding"), the Company's majority shareholder and an indirect subsidiary of TotalEnergies and Global Infrastructure Partners. The $175 million term loan includes $45 million previously funded to the Company in December and January, $80 million in new investment, and a $50 million second tranche that is available to be borrowed upon the satisfaction of certain conditions. In connection with the Second Lien Credit Agreement, the Company agreed to issue penny warrants to Sol Holding to purchase up to approximately 41.8 million shares of the Company's common stock with an additional 33.4 million of warrants issued if the $50 million second tranche of the term loan is drawn. This funding positions the Company to navigate current industry headwinds and further reinforce its foundation for a more sustainable, resilient and agile business.

Key Points: 
  • Together, these actions provide the Company with up to $155 million of additional liquidity.
  • "With this injection of additional liquidity and working capital to our balance sheet, coupled with substantial cost reductions, SunPower is taking positive steps to position itself to succeed in 2024 and beyond."
  • SunPower will discuss its full year and fourth quarter 2023 financial results on Thursday, Feb. 15 at 8 a.m.
  • Analysts intending to participate in the Q&A session must register for a personal link and dial-in at: https://register.vevent.com/register/BI49f0f6c1dcda48db936395f3333e1574 .

Hess Midstream LP Announces Pricing of Secondary Public Offering of Class A Shares

Retrieved on: 
Tuesday, February 6, 2024
Energy, Utilities, Oil, Gas, Global Infrastructure Partners, Security (finance), Sale, Exercise

The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares.

Key Points: 
  • The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares.
  • HESM will not receive any proceeds from the sale of Class A shares in the offering.
  • The offering is expected to close on February 8, 2024, subject to customary closing conditions.
  • Citigroup is acting as the bookrunning manager of the offering.