EQT Announces the Acquisition of Chevron’s Appalachia Assets

Highly attractive, low-risk, strategic bolt-on acquisition

PITTSBURGH, Oct. 27, 2020 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that it has entered into a definitive purchase and sale agreement with Chevron U.S.A. Inc. under which EQT will acquire Chevron’s upstream and midstream assets located in the Appalachian Basin for $735 million, subject to customary adjustments at closing. The transaction is expected to close late in the fourth quarter of 2020, subject to customary closing conditions, with an effective date under the purchase and sale agreement of July 1, 2020. EQT intends to finance the acquisition, subject to market conditions and other factors, with cash on hand, drawings under its revolving credit facility and/or one or more capital markets transactions.

Asset Highlights:

  • Current net production of approximately 450 MMcfe per day; 75% gas / 25% liquids
  • Approximately 100 work-in-progress wells
  • Approximately 125,000 core net Marcellus acres; 335,000 total net Marcellus acres
  • 31% ownership interest in Laurel Mountain Midstream
  • Two water systems and associated infrastructure located in PA and WV

Transaction Highlights:

  • Low-risk, strategic bolt-on acquisition
  • Valuation underwritten by PDP value and protected through hedging
  • Extensive work-in-progress inventory enables capital efficient development
  • Favorable operating cost structure immediately improves margins and boosts free cash flow profile
  • Expected to be accretive to leverage, free cash flow per share and NAV per share

President and CEO Toby Rice stated, “This acquisition is a natural bolt-on extension of EQT’s dominant position in the core of the southwest Marcellus and supplements our already impressive asset base. With the purchase price underpinned by PDP value, the extensive work-in-progress well inventory, core undeveloped acreage and water assets provide material value upside.  Our unique knowledge of these assets, coupled with our superior operating model, puts these assets in the right hands to maximize the embedded value.”

Rice continued, “The digital work environment and business processes that we have created will allow for the seamless integration of these assets into our existing portfolio, while the favorable financial impacts will benefit both equity and debt holders. This transaction represents another strategic step this team is taking to create value for all stakeholders, while enhancing the durability and sustainability of our business.”

Jefferies LLC acted as financial advisor to EQT on the transaction.

About EQT Corporation
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders.  By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy.  We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do.

EQT Management speaks to investors from time to time and the analyst presentation for these discussions, which is updated periodically, is available via the EQT’s investor relations website at https://ir.eqt.com.

Cautionary Statements
This news release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of EQT Corporation and its subsidiaries (collectively, the Company), including guidance regarding the Company’s ability to complete its acquisition of assets from Chevron (the Chevron Acquisition) and the timing of closing, if at all; the projected financial, strategic and operational benefits from the Chevron Acquisition, and the Company’s ability to successfully integrate the assets and achieve such benefits; potential financing sources and amounts for financing the Chevron Acquisition, and the timing of such financings; and the Company’s hedging strategy. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Company has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently available to the Company. While the Company considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond the Company’s control. The risks and uncertainties that may affect the operations, performance and results of the Company’s business and forward-looking statements include, but are not limited to, volatility of commodity prices; the costs and results of drilling and operations; access to and cost of capital; uncertainties about estimates of reserves, identification of drilling locations and the ability to add proved reserves in the future; the assumptions underlying production forecasts; the quality of technical data; the Company’s ability to appropriately allocate capital and resources among its strategic opportunities; inherent hazards and risks normally incidental to drilling for, producing, transporting and storing natural gas, NGLs and oil; cyber security risks; availability and cost of drilling rigs, completion services, equipment, supplies, personnel, oilfield services and water required to execute the Company’s exploration and development plans; the ability to obtain environmental and other permits and the timing thereof; government regulation or action; environmental and weather risks, including the possible impacts of climate change; uncertainties related to the severity, magnitude and duration of the COVID-19 pandemic; and disruptions to the Company’s business due to acquisitions and other significant transactions. These and other risks are described under Item 1A, “Risk Factors,” and elsewhere in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as updated by Part II, Item 1A, “Risk Factors” in the Company’s subsequently filed Quarterly Reports on Form 10-Q and other documents the Company files from time to time with the Securities and Exchange Commission. In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it.

Investor Contact:
Andrew Breese
Director, Investor Relations
412.395.2555
ABreese@eqt.com

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SOURCE EQT Corporation

Southern Company forms Southern Energy Resources group, names Cummiskey Group CEO

ATLANTA, June 22, 2020 /PRNewswire/ — Southern Company today combined the leadership of three of its businesses – Southern Power, PowerSecure and Southern Holdings – under one CEO to optimize the needs of large commercial, industrial and municipal customers across the country. The company named Chris Cummiskey to the new position of Group CEO for Southern Energy Resources, and executive vice president of Southern Company Services Commercial Development.

Southern Power, PowerSecure and Southern Holdings will maintain their brands as individual companies and Mark Lantrip, president and CEO of Southern Company Services, will continue as chairman of each.

Cummiskey was previously executive vice president of external affairs and nuclear development for Georgia Power, also a Southern Company subsidiary.

Effective July 1, Cummiskey is responsible for Southern Company’s competitive power businesses in front of the meter and behind the meter including a growing Energy Services business.  As CEO of Southern Holdings, Cummiskey will also be responsible for Southern Company’s strategic and venture capital investment activities. 

In his career, Cummiskey has served as chief com­mercial officer of Southern Power and as commis­sioner of the Georgia Department of Economic Development.

Cummiskey is a past member of the Board of Regents of the University System of Georgia and the Georgia Ports Authority. He earned his bachelor’s degree in business administration from the University of Georgia. He and his wife, Rebecca, reside in Atlanta with their two children, Addison and Jack.

About Southern Company
Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Fortune’s “World’s Most Admired Companies” list, Forbes and the Women’s Choice Award. To learn more, visit www.southerncompany.com.

 

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SOURCE Southern Company

Atlantic Power Corporation Announces Election of Directors and Results of Annual and Special Meeting of Shareholders

DEDHAM, Mass., June 19, 2020 /CNW/ — Atlantic Power Corporation (NYSE: AT) (TSX: ATP) (“Atlantic Power” or the “Company”) announced that the nominees listed in the management information circular and proxy statement for the 2020 Annual and Special Meeting of Shareholders (the “Annual Meeting”) held on June 17, 2020 were elected as directors of the Company. Detailed results of the votes by proxy for the election of directors held at the virtual Annual Meeting are set out below.

Nominee

Votes For

% For

Votes Withheld

% Withheld

R. Foster Duncan

52,371,896

91.70%

4,738,952

8.30%

Kevin T. Howell

55,251,141

96.74%

1,859,708

3.26%

Danielle S. Mottor

55,796,378

97.70%

1,314,471

2.30%

Gilbert S. Palter

55,765,345

97.64%

1,345,403

2.36%

James J. Moore, Jr.

55,870,700

97.83%

1,240,149

2.17%

An amendment to the Company’s sixth amended and restated long-term incentive plan was approved at the Annual Meeting. In connection with the amendment, the Company relied on an exemption from certain requirements of the Toronto Stock Exchange (“TSX”) under section 602.1 of the TSX Company Manual.

Shareholders also approved, by non-binding advisory vote, the Company’s executive compensation for 2019. In addition, shareholders approved the appointment of KPMG LLP to serve as the Company’s auditors for 2020.

About Atlantic Power

Atlantic Power is an independent power producer that owns power generation assets in eleven states in the United States and two provinces in Canada. The Company’s generation projects sell electricity and steam to investment-grade utilities and other creditworthy large customers predominantly under long–term power purchase agreements that have expiration dates ranging from 2020 to 2043. The Company seeks to minimize its exposure to commodity prices through provisions in the contracts, fuel supply agreements and hedging arrangements. The projects are diversified by geography, fuel type, technology, dispatch profile and offtaker (customer). Approximately 75% of the projects in operation are 100% owned and directly operated and maintained by the Company. The Company has expertise in operating most fuel types, including gas, hydro, and biomass, and it owns a 40% interest in one coal project.

Atlantic Power’s common shares trade on the New York Stock Exchange under the symbol AT and on the Toronto Stock Exchange under the symbol ATP. For more information, please visit the Company’s website at www.atlanticpower.com or contact:

Atlantic Power Corporation 
Investor Relations
(617) 977-2700 
info@atlanticpower.com

Copies of the Company’s financial data and other publicly filed documents are available on SEDAR at www.sedar.com or on EDGAR at www.sec.gov/edgar.shtml under “Atlantic Power Corporation” or on the Company’s website.

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SOURCE Atlantic Power Corporation

Azure Power to Announce Results for Fiscal Fourth Quarter 2020 Ended March 31, 2020 After the Market Closes on June 12, 2020

NEW DELHI, June 8, 2020 /PRNewswire/ — Azure Power, a leading solar power producer in India, will report financial results for the fiscal fourth quarter ended March 31, 2020 after the market closes on Friday, June 12, 2020. The Company will host a conference call to discuss results on Monday, June 15, 2020 at 8:30 a.m. US Eastern Time. Investors may access a live webcast of this conference call by visiting http://investors.azurepower.com/events-and-presentations.

Members of the public who would like to listen to the conference call should dial +1-323-386-8721 (in the U.S.) and +91-22-6280-1444 (outside the U.S.). The number should be dialed at least 10 minutes prior to the start of the conference call. For those unable to listen to the live broadcast, a replay will be available approximately two hours after the conclusion of the call. The replay will remain available until Monday, June 22, 2020 and can be accessed by dialing +1-833-289-8317) (in the U.S.) and +91-22-7194-5757 (outside the U.S.) and entering the replay passcode 29352.

Please direct any questions regarding obtaining access to the conference call to Azure Power Investor Relations, via e-mail, at ir@azurepower.com.

About Azure Power

Azure Power (NYSE: AZRE) is a leading independent solar power producer with a pan-India portfolio. With its in-house engineering, procurement and construction expertise and advanced inhouse operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes since its inception in 2008. For more information, visit: www.azurepower.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions issues related to the corona virus; supply disruptions; power curtailments by Indian state electricity authorities and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Investor Contact

Nathan Judge, CFA
ir@azurepower.com 
Investor Relations
Azure Power

Media Contact 

Samitla Subba 
pr@azurepower.com
+91-11-4940-9800
Policy and Communications
Azure Power

 

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SOURCE Azure Power

People’s Gas Employs Urbint Emergency Response Technology to Cut Response Times

NEW YORK, May 28, 2020 /PRNewswire/ — Urbint, the market leader in artificial intelligence (AI) for utility safety and risk reduction, and Peoples Gas, the natural gas utility serving the City of Chicago, announced a collaboration to leverage predictive AI to forecast gas odor calls across the Chicago area. The technology, called Urbint Lens for Emergency Response, will provide Peoples Gas a tool in effectively responding to natural gas emergencies.

“Peoples Gas’ early adoption of AI-powered emergency response technology exemplifies their leadership in keeping Chicagoans safe,” said Corey Capasso, Founder and CEO of Urbint. “Using AI, Peoples Gas will be able to make critical staffing decisions to respond to incidents faster.”

Around the country, when a person smells gas in his or her home and calls their utility company, the utility sends an emergency response team to the location to check for a gas leak. If one exists, the team evacuates the area and shuts off the gas to repair the pipes and keep the community safe. 

The problem is that for a utility serving nearly one million people across Chicago, the volume of calls can be extremely high and the locations of the calls are usually unpredictable. Urbint’s technology uses a wide range of utility and external data to provide predictive intelligence, allowing Peoples Gas to make informed decisions, cut response times, and stay one step ahead.

Learn more about Urbint Lens for Emergency Response here.

About Urbint
Urbint uses artificial intelligence to empower utilities and infrastructure operators to predict and prevent threats, making communities safer and more resilient. Urbint’s technology leverages proprietary Models of the World and machine learning to enable risk-driven decision making, enhancing safety, reliability, and affordability — all while reducing emissions.

Urbint partners with over 40 utilities, including 9 of the top 10 largest gas utilities in North America. Urbint’s customers include National Grid, Southern Company, Con Edison, Exelon, Dominion, NiSource, and Xcel Energy among others.

To learn more, visit urbint.com. Follow us on Twitter @urbint.

 

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SOURCE Urbint

OG&E customers to see bill reduction

Company to make off-cycle, fuel cost adjustment, providing meaningful relief to customers during uncertain times

OKLAHOMA CITY, May 28, 2020 /PRNewswire/ — OG&E today announced that it will lower its monthly fuel cost recovery, effective with the first customer billing cycle in June. On average, residential customers in Oklahoma will see a reduction of $5 per month.

The company said the savings are tied to the ongoing slump in the price of natural gas, which is used to generate electricity. Typically, the company resets the fuel portion of its bill each fall to reflect current costs, with the new cost reflected in customer bills beginning the following January. Implementing this change now will permit the company to reduce customers’ fuel costs 16% through the remainder of 2020.

“This is an appropriate time for the company to seek this off-cycle, fuel cost adjustment to aid customers,” said OG&E spokesman Brian Alford. “As we move into the summer months and continue to grapple with the effects of COVID-19, we’ve been identifying opportunities to save customers money, as well as offering flexible payment terms where needed. This adjustment to the fuel portion of the bill is one means we have of meeting that objective. We appreciate the flexibility and support of the Oklahoma Corporation Commission in allowing us to make this reduction possible now rather than next year.”

The Oklahoma Corporation Commission also approved on May 19 the company’s request for a 90-day delay of its pending grid enhancement cost recovery proceeding, which involves projects needed to improve grid security, reliability and resiliency. The company is requesting to recover the cost of grid enhancement projects over a five-year span after the improvements are placed into service.

About OG&E
Oklahoma Gas & Electric Company, a subsidiary of OGE Energy Corp. (NYSE: OGE), is Oklahoma’s largest electric utility. For more than a century, we have provided customers in Oklahoma and western Arkansas the safe, reliable electricity needed to power their businesses and homes at rates below the national average. For more information about OG&E, visit us on the Internet at http://www.oge.com or follow us on Facebook: www.facebook.com/ogepower and Twitter: @OGandE.

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SOURCE OGE Energy Corp.

Duke Energy prepares for hurricane season during COVID-19 pandemic

CHARLOTTE, N.C., May 29, 2020 /PRNewswire/ — As the June 1 start of hurricane season approaches, Duke Energy is preparing to respond to power outages as quickly as possible – while also adapting to the extra challenges of protecting the health and well-being of the company’s employees, customers and communities during the COVID-19 pandemic. 

“Now more than ever, our customers are depending on us for the essential energy they need to power their homes and workplaces, which in many cases are one and the same,” said Harry Sideris, senior vice president of customer experience and services. “We recognize that even brief outages in this pandemic are no longer simple inconveniences but disruptions, so it’s important that we, along with our customers, plan now for any impacts a major storm may create.”

Duke Energy protective and preparedness measures

“We’ve experienced several spring storms across our service areas the past two months and we’ve learned a lot about social distancing and keeping people safe. We’ll be applying those lesson on a broader scale should our service areas experience any major storms this hurricane season,” Sideris continued.

  • Duke Energy crews are using social distancing measures and, when appropriate for certain work, face coverings while working in the field.
  • We are reducing or eliminating processes that involve paper transfers among crews and extended physical spacing during activities like job briefings.
  • Crew coordination and logistics support are being conducted remotely through a virtual outage response center model.
  • Meetings with vendors and others suppliers are underway to understand now the expectations for supporting storm response and the options available.
  • Social distancing rules and screening processes will occur at staging sites, crew lodging, catering and support services to help protect crews as well as communities during large-scale outage restorations.

The public can help Duke Energy promote a safe work environment by not approaching utility crews in the field or entering their work zone as they restore power. Please adhere to local COVID-19 protective orders and follow work-zone signage instructions to help our crews avoid distraction and maintain a safe environment.

Duke Energy will continue to rely on mutual assistance agreements with neighboring and other utilities for large storm response. While the modified lodging / logistics processes put in place for COVID-19 will be different, our experience indicates that the modifications should not cause significant delays in outage response unless circumstances limit the number of off-system crews available for response.

Important safety reminders

We encourage customers to have a plan in place if they experience an extended power outage. Below are some tips to help you and your family stay safe.

Before the storm hits

  • Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines, water, non-perishable foods and other supplies that might be hard to find after a storm strikes. Your emergency kit should also include items that can help protect you and others from COVID-19, such as hand sanitizer, bar or liquid soap, and face coverings aligned with CDC guidance.
  • Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
  • Charge cellphones, computers and other electronic devices in advance of storms to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
  • Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required. When checking on neighbors and friends, be sure to follow social distancing recommendations (staying at least 6 feet from others) and other CDC recommendations to protect yourself and others.
  • Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
  • Pet owners should make arrangements to stay at evacuation shelters that accept pets; friends’ or family members’ homes; or pet-friendly hotels.

After the storm hits

  • Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
  • If a power line falls across a car that you’re in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
  • If you need to go to a disaster shelter, follow CDC recommendations for staying safe and healthy in a public disaster shelter during the COVID-19 pandemic.

More tips on what to do before, during and after a storm can be found at www.duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it’s critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.

Outage reporting

Before the storm hits, customers should contact us to make sure their contact information is up to date and their communication preferences are noted, so they receive proactive outreach on the status on a power outage they may experience. Customers who experience an outage during a storm can report it the following ways:

  • Visit duke-energy.com on a desktop computer or mobile device.
  • Use the Duke Energy mobile app – Download the Duke Energy App from a smartphone via Apple Store or Google Play.
  • Text OUT to 57801 (standard text and data charges may apply).
  • Call the automated outage-reporting system for your utility:
    • Duke Energy Carolinas: 800-769-3766
    • Duke Energy Progress: 800-419-6356
    • Duke Energy Florida: 800.228.8485
    • Duke Energy Ohio/Kentucky: 800.543.5599
    • Duke Energy Indiana: 800.343.3525

Customer service specialists will be available to manage customer calls should the need arise, with more than 1,500 additional corporate responders from across all Duke Energy jurisdictions also available to assist as needed.

Tips for protecting refrigerated food during a power outage

For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following tips:

  • Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature. 
  • A refrigerator can keep food cold for about 4 hours if it is unopened. If the power will be out for more than 4 hours, use coolers to keep refrigerated food cold.
  • A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.

The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.

Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit’s regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.

Duke Energy was named to Fortune’s 2020 “World’s Most Admired Companies” list and Forbes’ “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media line:
800.559.3853

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SOURCE Duke Energy

Global Oil and Gas Pumps Market 2020: Drivers, Restraints, Forecasts and Trends

DUBLIN, May 29, 2020 /PRNewswire/ — The “Global Oil and Gas Pumps Market, 2019” report has been added to ResearchAndMarkets.com’s offering.

The aim of this research study is to identify and analyze various market trends impacting and influencing the pumps landscape in the oil and gas industry. Oil price volatility, economic uncertainties, trade conflict, and political tensions have severely affected the investment sentiment in the oil and gas industry. Moreover, the increasing concern toward well productivity and Operational Expenditure (OPEX), especially in shale reserves, has caused momentary roadblocks in the upstream activities. In this study, the publisher correlates various political, economic, and technological factors that have a direct impact on the growth of the pumps industry and those that cause a roadblock in pushing order volumes. The sales of pumps is assessed across 3 segments of the oil and gas industry, namely upstream, midstream, and downstream. An in-depth analysis of pumps types that include centrifugal and Positive Displacement (PD) is offered in the study where its impact across regions and the 3 segments of the oil and gas industry is discussed. Furthermore, the competitive assessment of pumps in the oil and gas industry offers insights on the leading market participants and pivotal factors that enable to outperform in this market. Additionally, 5 major growth opportunities are identified for pump manufacturers in the oil and gas industry that will enable to unlock new revenue streams.

This research embraces a specific methodology that includes discussion with the senior management of pump manufacturers both in PD and centrifugal, and oil and gas enterprises and is supported by secondary research.

Research Highlights

  • In-depth analysis with market sizing of product segments: centrifugal pumps: single stage, multi stage, axial and mixed, submersible and seal-less and circulator; and positive displacement (PD) pumps: diaphragm, piston, gear, lobe, vane, progressive cavity, screw and peristaltic
  • Regional perspective includes North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America
  • End-user market is focused on oil and gas, capturing upstream, midstream, and downstream sectors
  • New product capabilities: Energy-efficient pumps, smart pumps and pump monitoring solutions

This research also discusses the role of disruptive technologies, such as Industrial Internet of Things (IIoT) and its role in addressing some of the pressing concerns of oil and gas enterprises such as energy efficiency, cutting down operational costs, enhancing production efficiency, and improving profitability. This study discusses the need for new-age pumps that are embedded with smart and intuitive features enabling plant engineers to redefine plant maintenance strategy by enhancing pump efficiency and its consequent impact on the production throughput. Oil and gas companies, known for their conservative approach, are gradually exploring new methods such as digital transformation, to remain competitive and relevant in this cut-throat business environment. This beginning is expected to be witnessed at plant-level assets and particularly support IoT-based pump solutions that are used in critical operation.

Key Issues Addressed

  • What is the market size of pumps in the oil and gas industry? What are its growth prospects in the short, medium, and long terms?
  • What are the key drivers and restraints influencing the pump industry growth in oil and gas?
  • Which are the key market participants? What is their market share? Is it falling or increasing? How are they differentiating from others?
  • Are there any transformational growth opportunities in this mature market? What are they, and how can pump companies capitalize on the same?
  • Do existing pump products and associated services offered in the market meet customer requirements? Are there any market gaps? Is there a need for further development?
  • What is the future of the pumps industry? Will there be new business models?

Key Topics Covered:

1. Executive Summary

2. Market Overview

3. Drivers and Restraints – Total Pumps Market in the Oil and Gas Industry

4. Forecasts and Trends – Total Pumps Market in the Oil and Gas Industry

5. Market Share and Competitive Analysis – Total Pumps Market in the Oil and Gas Industry

6. Growth Opportunities and Companies to Action

7. Mega Trends and Industry Convergence Implications

8. Centrifugal Pumps Segment Analysis

9. Positive Displacement (PD) Pumps Segment Analysis

10. Regional Analysis – North America

11. Regional Analysis – Europe

12. Regional Analysis – The Middle East and Africa

13. Regional Analysis – Asia-Pacific

14. Regional Analysis – Latin America

15. The Last Word

Companies Mentioned

  • Colfax
  • Flowserve
  • Gorman-Rupp Company
  • IDEX
  • ITT
  • KSB
  • Moyno
  • PSG Dover
  • Roger Pump Company
  • SPX Flow
  • Sulzer

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SOURCE Research and Markets

Wood Adopts Connected Worker Solution Enabled By Honeywell Forge For Business Continuity

Honeywell solution to support Wood, connecting field workers to the control room to enhance safety, boost productivity, and enable business continuity

HOUSTON, May 11, 2020 /PRNewswire/ — Honeywell (NYSE: HON) today announced Honeywell Forge Workforce Productivity is being adopted by Wood, a global leader in consulting, projects and operations solutions in energy and the built environment. The connected worker solution enabled by Honeywell Forge helps improve decision-making, boost productivity and enhance safety for industrial workers.

Using hands-free devices and leveraging technology such as augmented reality, Honeywell Connected Worker’s intelligent wearables combine a heads-up display and voice control with sophisticated workflow software and deep integration of plant and process data. Honeywell is working with Wood to equip its frontline workforce in the energy industry with instant access to the crucial knowledge and information needed to streamline operations, ensure uptime and enable business continuity.

“Honeywell Forge Workforce Productivity is one of the key components of our connected operations and worker programmes. Wood is harnessing the collective ingenuity of our people using disruptive technologies to solve our clients’ biggest challenges,” said Darren Martin, Wood’s chief technology officer. “The technology is central to ensuring Wood and our clients are future ready, now.”

The headsets are providing Wood with modules from Honeywell Forge, including:

  • Honeywell Forge Inspection Rounds – An easy to use software solution that digitizes end-to-end inspection workflows, bringing greater efficiency and effectiveness to any businesses’ operator rounds.
  • Honeywell Forge Worker Assist Expert-on-Call and Video Assist – Connects workers in real time to colleagues in central control rooms or remote offices and other sites when they need advice or support. The technology enables workers to call up video tutorials guiding them step-by-step through complex tasks when they encounter them.

“Operators across industries are recognizing the value of digitizing workflows, enabling workers with collaboration tools and connecting workers to live data so they can make better decisions, work more effectively and be safer whether on site or while working remotely,” said Sunil Pandita, vice president and general manager, Honeywell Connected Industrial. “Honeywell Forge dramatically enhances workers’ daily experience by combining our process expertise with people enablement technologies, especially in today’s global business environment.”

To date, the technology has been successfully deployed on offshore rigs in the UK North Sea, the Gulf of Mexico, and on Alaska’s North Slope as well as at onshore processing facilities in the U.K., U.S., Canada and the Middle East. Positive technology impacts range from accelerated issue resolution to reduced shutdown time and decreased exposure to hazardous environments.

Last year, Honeywell also delivered advanced refining and petrochemical solutions to Wood.

About Wood
Wood is a global leader in consulting, projects and operations solutions in energy and the built environment. We operate in more than 60 countries, employing over 55,000 people, with revenues of around $10 billionwww.woodplc.com

About Honeywell
Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

 

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SOURCE Honeywell

Hull Street Energy Acquires Hydroelectric Plant From Enel Green Power North America And GE Energy Financial Services

BETHESDA, Md., May 11, 2020 /PRNewswire/ — Hull Street Energy has acquired 100% of the interests in Gauley River Power Partners, LLC, which operates an 80 megawatt hydroelectric generating facility in Summersville, West Virginia, from Enel Green Power North America and GE Energy Financial Services.  The facility supplies reliable, zero-carbon energy to customers in the Mid-Atlantic region.   

This transaction was completed pursuant to a purchase and sale agreement that was executed by Hull Street Energy for the acquisition of thirty-one hydroelectric stations from EGPNA Renewable Energy Partners, LLC, a joint venture between Enel Green Power North America and GE Energy Financial Services, thirty of which were conveyed in January of this year. 

With this final closing, Hull Street Energy affiliates own fifty-two power generation stations providing 900 MW of renewable, gas-fired, and dual-fueled generation capacity to support grid operations throughout the United States. 

Baker Botts LLP acted as legal counsel to Hull Street Energy. 

About Hull Street Energy, LLC

Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it transitions to a more sustainable future.  Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.

Media Contact:
Matthew Willis
240-800-3218
mwillis@hullstreetenergy.com

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SOURCE Hull Street Energy, LLC