Federal Lands Jobs and Energy Security Act

Matador Resources Company Announces Upgrade to Corporate Credit Rating

Retrieved on: 
Wednesday, September 21, 2022
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Matador Resources Company (NYSE: MTDR) (Matador or the Company) today announced the recent upgrade by S&P Global Ratings (S&P) to the Companys corporate credit rating.

Key Points: 
  • Matador Resources Company (NYSE: MTDR) (Matador or the Company) today announced the recent upgrade by S&P Global Ratings (S&P) to the Companys corporate credit rating.
  • Foran, Matadors Chairman and CEO, commented, We are very pleased with S&Ps upgrade to our corporate credit rating, which was Matadors second such upgrade in as many weeks.
  • As we previously announced, Moodys upgraded Matadors corporate family rating last week from B1 to Ba3.
  • Matador is unquestionably a stronger company, both operationally and financially, than it was two years ago.

NESR Secures Its First Multi-Year Directional Drilling Services Contract in Saudi Arabia

Retrieved on: 
Thursday, September 15, 2022
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National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, has announced that the company has been awarded a long term contract for Directional Drilling services in the Kingdom of Saudi Arabia, covering Directional Drilling ("DD"), Measurement while Drilling ("MWD"), Performance Drilling, Well Engineering and Logging While Drilling ("LWD") services for up to four years starting with immediate effect.

Key Points: 
  • National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, has announced that the company has been awarded a long term contract for Directional Drilling services in the Kingdom of Saudi Arabia, covering Directional Drilling ("DD"), Measurement while Drilling ("MWD"), Performance Drilling, Well Engineering and Logging While Drilling ("LWD") services for up to four years starting with immediate effect.
  • This award also provides NESR the platform for the introduction of next generation technologies in the drilling and measurement spheres which the Company anticipates introducing over the course of this contract.
  • Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions.
  • The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.

Fluence Surpasses Highest UL Requirements for Energy Storage Product Safety

Retrieved on: 
Thursday, September 15, 2022
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ARLINGTON, Va., Sept. 15, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Fluence) (NASDAQ: FLNC), a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, today announced the company has successfully completed a large-scale fire test for its sixth-generation energy storage products that surpassed the industrys UL9540A safety testing requirements, designed to limit the spread of a fire in energy storage deployments.

Key Points: 
  • ARLINGTON, Va., Sept. 15, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Fluence) (NASDAQ: FLNC), a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, today announced the company has successfully completed a large-scale fire test for its sixth-generation energy storage products that surpassed the industrys UL9540A safety testing requirements, designed to limit the spread of a fire in energy storage deployments.
  • In partnership with the National Fire Protection Association (NFPA), the energy storage industry developed product regulations and testing recommendations to ensure that energy storage products are designed to limit potential fire to defined subsystems and not propagate thermal runaway.
  • Fluence has a long history of incorporating industry-leading safety features into every level of our energy storage products, including system monitoring, fault detection, incipient gas detection, and deflagration panels.
  • Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and cloud-based software for renewables and storage.

SilverBow Resources Announces New Dry Gas Position in the Dorado Play of Webb County

Retrieved on: 
Thursday, September 15, 2022
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SilverBow Resources, Inc. (NYSE: SBOW) (SilverBow or the Company) today announced the addition of a new acreage block in the Dorado play of Webb County, Texas.

Key Points: 
  • SilverBow Resources, Inc. (NYSE: SBOW) (SilverBow or the Company) today announced the addition of a new acreage block in the Dorado play of Webb County, Texas.
  • Consideration for SilverBows new Dorado position has totaled approximately $50 million, representing a combination of leasing, acquisition and drilling capital.
  • The first two wells that we have brought online in this position are exceeding our expectations and further confirm the robust economics of both the Eagle Ford and Austin Chalk reservoirs across Webb County.
  • Mr. Woolverton commented further, Our total net acreage position in Webb County now totals 15,000 acres and with estimated drilling inventory exceeding 200 gross locations.

Matador Resources Company Announces Upgrades to Corporate Credit Rating and Senior Unsecured Notes and $30 Million in Additional Bond Repurchases

Retrieved on: 
Tuesday, September 13, 2022
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Matador Resources Company (NYSE: MTDR) (Matador or the Company) today announced (1) recent upgrades by Moodys Investors Service (Moodys) to the Companys corporate credit rating and senior unsecured notes and (2) $30 million in additional purchases of the Companys outstanding senior notes.

Key Points: 
  • Matador Resources Company (NYSE: MTDR) (Matador or the Company) today announced (1) recent upgrades by Moodys Investors Service (Moodys) to the Companys corporate credit rating and senior unsecured notes and (2) $30 million in additional purchases of the Companys outstanding senior notes.
  • On September 9, 2022, Moodys upgraded Matadors Corporate Family Rating (CFR) from B1 to Ba3 and upgraded Matadors senior unsecured notes from B2 to B1.
  • More information regarding Moodys upgrade of Matador may be found at www.moodys.com .
  • Foran, Matadors Chairman and CEO, commented, We are very pleased with Moodys upgrades to our corporate family rating and senior unsecured notes, which reflect our ongoing commitment to strengthening our balance sheet, repaying debt and returning cash to shareholders.

Barnwell Industries, Inc. Reports Sale of Drilling Rig and Provides Canadian Oil and Gas Update

Retrieved on: 
Tuesday, September 13, 2022
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Mr. Alexander C. Kinzler, Chief Executive Officer of Barnwell, commented, We are pleased to report the sale of a drilling rig which will result in a gain to be recognized in our fiscal 4th quarter ending September 30, 2022.

Key Points: 
  • Mr. Alexander C. Kinzler, Chief Executive Officer of Barnwell, commented, We are pleased to report the sale of a drilling rig which will result in a gain to be recognized in our fiscal 4th quarter ending September 30, 2022.
  • We previously sold another drilling rig in October 2021 for approximately $670,000 and the Company is taking these actions to reduce our contract drilling operating costs.
  • We still own 5 rigs for drilling and pump installation.
  • Barnwells share of the current pre-royalty, combined production is 350 barrels of oil, 60 barrels of natural gas liquids and 2,000 thousand cubic feet (MCF) of natural gas per day.

Arras Minerals Completes a Regional-Scale Airborne Magnetics Survey in Northeastern Kazakhstan

Retrieved on: 
Monday, September 12, 2022
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VANCOUVER, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (Arras or the Company) is pleased to announce the successful completion of a 92,400 line-kilometer high-resolution airborne magnetics survey.

Key Points: 
  • VANCOUVER, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (Arras or the Company) is pleased to announce the successful completion of a 92,400 line-kilometer high-resolution airborne magnetics survey.
  • Commenting on the completion of the survey, Tim Barry, CEO of Arras stated, This is one of the largest airborne geophysical surveys flown in Kazakhstan in recent years.
  • The 71,400 line-kilometer high-resolution airborne magnetics survey covers the Companys Maisor, Aktasty, Elemes, Norgubek, and Akkuduk exploration licenses (see Figure 1).
  • Airborne magnetics surveys covering Arras mineral exploration licences in northeastern Kazakhstan.

COPT Executes Full-Building Lease with Defense Contractor at Redstone Gateway

Retrieved on: 
Thursday, September 8, 2022
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Corporate Office Properties Trust (COPT or the Company) (NYSE: OFC) executed a full-building lease with a defense contractor that is a Fortune 100 company at 1200 Redstone Gateway, a 121,000 square foot LEED Silver building in Huntsville, AL.

Key Points: 
  • Corporate Office Properties Trust (COPT or the Company) (NYSE: OFC) executed a full-building lease with a defense contractor that is a Fortune 100 company at 1200 Redstone Gateway, a 121,000 square foot LEED Silver building in Huntsville, AL.
  • COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties.
  • The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (Regional Office Properties).
  • As of June 30, 2022, the Company derived 90% of its core portfolio annualized rental revenue from Defense/IT Locations and 10% from its Regional Office Properties.

Potential Lithium Indicators Surveyed on Joshua Gold Resources Property

Retrieved on: 
Wednesday, September 7, 2022
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Located approximately 60 Kilometers north of Thunder Bay, Ontario, JSHGs 100% owned Seymour Lake Extension lithium prospect property consists of 27 unpatented claims, covering 1371 acres.

Key Points: 
  • Located approximately 60 Kilometers north of Thunder Bay, Ontario, JSHGs 100% owned Seymour Lake Extension lithium prospect property consists of 27 unpatented claims, covering 1371 acres.
  • Mr. Sharpley remarks that the property appears to have a geological structure consistent with a potential lithium mineral deposit, along with the presence of indicator minerals, like pegmatite, suggesting the same:
    The lithium occurs in pegmatite related to the lenticular hornblende tonalite and granite batholith.
  • In addition to JSHG, Mr. Sharpley has explored gold opportunities for other Canadian mining companies including Opawica Explorations Inc., Pelangio Mines Inc.,Detour Gold Corp., Wolfden, Sabina, NFX and Mistango River Resources Inc.
    Joshua Gold Resources CEO Ben Fuschino adds: Lithium is one of the metals that is the future of new-energy technology.
  • About Joshua Gold Resources Inc.
    Joshua Gold Resources Inc. (OTC Pink: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3-billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, lithium, cobalt, niobium, lithium to chromium.

Valaris Announces Receipt of $40 Million from ARO Drilling

Retrieved on: 
Tuesday, September 6, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today that it has received a payment of $40 million from its joint venture ARO Drilling, representing a partial early repayment of its shareholder notes receivable.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today that it has received a payment of $40 million from its joint venture ARO Drilling, representing a partial early repayment of its shareholder notes receivable.
  • Following this payment, Valaris has shareholder notes receivable totaling approximately $403 million, with $225 million due in October 2027 and approximately $178 million due in October 2028.
  • We do not expect that either Valaris or Saudi Aramco will need to provide any additional financing to ARO to fund the newbuild program.
  • Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies.