Western Refining Logistics, LP Announces Quarterly Cash Distribution

SAN ANTONIO, July 25, 2017 (GLOBE NEWSWIRE) — The Board of Directors of the general partner of Western Refining Logistics, LP (NYSE:WNRL) declared a quarterly cash distribution for the second quarter 2017 of $0.4675 per unit, or $1.87 per unit on an annualized basis.  This distribution represents a 3.3 percent increase over the quarterly distribution of $0.4525 per unit paid in May 2017, and is the 14th consecutive increase in the quarterly distribution.  The second quarter distribution will be paid on August 18, 2017, to all unitholders of record at the close of market on August 4, 2017.

About Western Refining Logistics, LP
Western Refining Logistics, LP is principally a fee-based, growth-oriented master limited partnership formed to own, operate, develop and acquire terminals, storage tanks, pipelines and other logistics assets related to the terminalling, transportation and storage of crude oil and refined products. Headquartered in El Paso, Texas, Western Refining Logistics, LP’s assets include approximately 705 miles of pipelines, approximately 12.4 million barrels of active storage capacity, distribution of wholesale petroleum products and crude oil and asphalt trucking.

More information about Western Refining Logistics is available at www.wnrl.com.

This release is intended to serve as qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of Western Refining Logistics’ distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Refining Logistics’ distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

CONTACT: Investor and Analyst Contact:
Michelle Clemente
(602) 286-1533

Media Contact:
Gary W. Hanson
(602) 286-1777

Baytex Conference Call and Webcast on Second Quarter 2017 Results to be Held on August 1, 2017

CALGARY, Alberta, July 25, 2017 (GLOBE NEWSWIRE) — Baytex Energy Corp. (TSX:BTE) (NYSE:BTE) will release its 2017 second quarter financial and operating results prior to the opening of markets on Tuesday, August 1, 2017.  A conference call and webcast will be held shortly thereafter to discuss the results.

Conference Call Details:       
Date:  Tuesday, August 1, 2017  
Time:  9:00 a.m. MDT (11:00 a.m. EDT)  
Dial-in:  647-427-2258 (Toronto Local and International)
  1-866-226-4099 (North America Toll-Free)  
Webcast:  http://edge.media-server.com/m/p/fb4ofhpe  

An archived recording of the conference call will be available approximately two hours after the event by accessing the webcast link above. The conference call will also be archived on the Baytex website at www.baytexenergy.com.

Baytex Energy Corp. is an oil and gas corporation based in Calgary, Alberta. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Approximately 79% of Baytex’s production is weighted toward crude oil and natural gas liquids. Baytex’s common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.

For further information about Baytex, please visit our website at www.baytexenergy.com, or contact:

Brian Ector, Senior Vice President, Capital Markets and Public Affairs

Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com 

Advanced Emissions Solutions to Host Second Quarter 2017 Conference Call on August 8th

HIGHLANDS RANCH, Colo., July 25, 2017 (GLOBE NEWSWIRE) — Advanced Emissions Solutions, Inc. (NASDAQ:ADES) (the “Company” or “ADES”) today announced the Company expects to release its second quarter 2017 financial results and file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 after market close on Monday, August 7, 2017. A conference call to discuss the Company’s financial performance is scheduled to begin at 9:00 a.m. Eastern Time on Tuesday, August 8, 2017.

The conference call webcast information will be available via the Investor Resources section of ADES’s website at www.advancedemissionssolutions.com. Interested parties may also participate in the call by dialing: (833) 227-5845 (Domestic) or (647) 689-4072 (International) conference ID 57992820. A supplemental investor presentation will be available on the Company’s Investor Resources section of the website prior to the start of the conference call.

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.

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

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. The forward-looking statements include statements or expectations regarding timing and the Company’s ability to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 (“Q2 Filing”), provide an investor presentation on the Company’s website, and host a conference call by the dates specified. These statements are based on current expectations, estimates, projections, beliefs and assumptions of the Company’s management. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including but not limited to, the completion of the Q2 Filing may take longer than expected and other factors discussed in greater detail in the Company’s filings with the Securities and Exchange Commission (“SEC”). You are cautioned not to place undue reliance on such statements and to consult the Company’s SEC filings for additional risks and uncertainties that may apply to the Company’s business and the ownership of its securities. The Company’s forward-looking statements are presented as of the date made, and the Company disclaims any duty to update such statements unless required by law to do so.

CONTACT: Investor Contact:
Alpha IR Group
Ryan Coleman or Chris Hodges

Noble Energy Declares Quarterly Dividend

Houston, July 25, 2017 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) today announced that its Board of Directors has declared a quarterly cash dividend of 10 cents per common share payable on August 21, 2017, to the shareholders of record at the close of business on August 7, 2017. 

Noble Energy (NYSE: NBL) is an independent oil and natural gas exploration and production company with a diversified high-quality portfolio of both U.S. unconventional and global offshore conventional assets spanning three continents. Founded more than 80 years ago, the company is committed to safely and responsibly delivering our purpose: Energizing the World, Bettering People’s Lives®. For more information, visit www.nblenergy.com.

CONTACT: Contact
Kristine Marante
(281) 872-3122   

Praj-Gevo Joint Development Agreement to Enter Commercialization Phase

MONTREAL, July 25, 2017 (GLOBE NEWSWIRE) — At the BIO World Congress on Industrial Biotechnology taking place in Montreal, Canada, Praj Industries Ltd (Praj) and Gevo, Inc. (Gevo) (NASDAQ:GEVO) unveiled a new commercial opportunity in renewable bioproducts, jointly announcing that Gevo’s proprietary isobutanol technology will now be available for licensing to processors of sugar cane juice and molasses. This follows on the back of Praj’s development work, adapting Gevo’s technology to sugar cane and molasses feedstocks.

A Joint Development Agreement and a Development License Agreement were entered into between Praj and Gevo in November 2015. The goal of these agreements was for Praj to adapt Gevo’s isobutanol technology to using non-corn based sugars and lignocellulose feedstocks. The process technology development was performed at Matrix, Praj’s R&D center located in Pune, India.

In the first phase of development, Praj worked with Gevo’s technology using sugar cane and molasses feedstocks, undertaking test-runs in order to develop a process design package that will now be offered for commercialization to cane juice and molasses-based ethanol plants, as licensees of Gevo’s isobutanol technology. Licensing is expected to be focused on Praj plants located in India, South America and South East Asia, with initial capacity targeted to come on-line in the 2019/2020 timeframe.

“We are pleased with the work that Praj has done in adapting our technology using cane juice and molasses as feedstocks. Praj is a great partner who shares our vision of low carbon fuels made from sugars in high yields. Praj has a massive footprint across the world. We look forward to working with Praj to license the technology out, leveraging their access and capabilities,” said Dr. Patrick Gruber, Chief Executive Officer of Gevo.

Pramod Chaudhari, Executive Chairman, Praj, added, “We are excited to offer this technology to our global customers who stand to benefit from an additional revenue stream from isobutanol. Praj has worked on 750 projects for ethanol plants across 75 countries. This isobutanol platform can be offered as ‘bolt-on’ to an existing ethanol plant or as a greenfield plant. This isobutanol technology is the latest addition to Praj’s diverse product portfolio and reinforces our organization’s leadership in the bioenergy space.”

Isobutanol has several direct applications as a gasoline blendstock or as a specialty chemical solvent, or it can be used as an intermediate which can be further converted into other chemical products or hydrocarbons such as Gevo’s alcohol-to-jet fuel (ATJ) and isooctane.

In comparison to other renewable jet fuels, Gevo’s ATJ has the potential to offer the optimal solution in terms of operating cost, capital cost, feedstock availability and scalability. In addition to being a lower carbon alternative, ATJ also offers performance advantages such as lower particulates, low sulfur content and a lower freezing point. Alaska Airlines, the U.S. Air Force, the U.S. Army and the U.S. Navy have all flown flights using Gevo’s ATJ, derived from isobutanol using corn and cellulosic materials as feedstocks.

Isooctane and renewable gasoline made from cane juice- and molasses-based isobutanol are expected to be very low in carbon content, offering new approaches to markets where low carbon fuels are valued, such as California and other geographies.

Gevo is expected to be the primary off-taker, marketer and initial distributor for isobutanol produced from the plants built by Praj that use Gevo’s isobutanol technology. 

In the next phase of commercialization, Praj is working to adapt Gevo’s technology to Praj’s 2nd generation bio-refineries, enabling the production of isobutanol from lignocellulosic biomass.

About PRAJ

PRAJ is a global process solutions company driven by innovation and integration capabilities, offers solutions to add significant value to Bio-ethanol facilities, Brewery plants, Water & Waste-water treatment systems, Critical Process Equipment & Systems, Hi-Purity solutions and Bio-products. Over the past three decades, PRAJ has focused on Environment, Energy and Agri process led applications. PRAJ has been a trusted partner for process engineering, plant & critical equipment and systems with over 750 references across five continents. Solutions offered by PRAJ are backed by its state of the art R&D Center called PRAJ Matrix. Led by an accomplished and caring leadership, PRAJ is a socially responsible corporate citizen. PRAJ is listed on the Bombay and National Stock Exchanges of India.

About Gevo

Gevo (NASDAQ:GEVO) is a leading renewable technology, chemical products, and next generation biofuels company. Gevo has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstocks. Gevo’s strategy is to commercialize bio-based alternatives to petroleum-based products to allow for the optimization of fermentation facilities’ assets, with the ultimate goal of maximizing cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne, Minnesota. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, Texas, in collaboration with South Hampton Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. Gevo has a marquee list of partners including The Coca-Cola Company, Toray Industries Inc. and Total SA, among others. Gevo is committed to a sustainable bio-based economy that meets society’s needs for plentiful food and clean air and water.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which include statements relating to Gevo’s technology, Praj’s development work adapting Gevo’s technology to sugar cane and molasses feedstocks, Praj’s commercialization efforts, the ability of Gevo to license its technology in India or elsewhere in connection with the development work of Praj, and the benefits, costs, scalability and physical properties of Gevo’s ATJ, are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2016, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

CONTACT: Gevo Media Contact:
David Rodewald
The David James Agency, LLC
+1 805-494-9508

Gevo Investor Contact:
Shawn M. Severson
EnergyTech Investor, LLC
+1 415-233-7094

Praj Media Contacts: 
Sandeep Jadhav
Praj Industries Ltd	
+91-20-71802000 / 22941000

Suman Sharma
AOR Marcomm
+91 8600113106

Mantra Venture Group Contracts with Telecommunication Carriers for Drone Mapping Services

LONGWOOD, Fla., July 25, 2017 (GLOBE NEWSWIRE) — Mantra Venture Group, Ltd. (OTC:MVTG) (the “Company”) announces a new Master Services Agreement with a telecommunications carrier for the use of its Drone Mapping Services. While the contract is of indeterminate value, the Company recently received its first purchase order and the use of the product is expected to begin immediately.

Roger Ponder, CEO, stated: “Through our subsidiary, AW Solutions, we have developed a new cutting-edge technology that is industry leading for the remote mapping and measuring of elevated infrastructure utilizing UAV (unmanned aerial vehicles) or drones. The current level of accuracy, utilizing existing technology, is in excess of 3/4 of an inch which does not allow the utilization of the data collected for a structural analysis to take place. AW Solutions now can to obtain accuracies superior to 1/16th of an inch which is the minimum threshold.”

“This technology has already been field tested in a live environment and now we have executed Master Service Agreements (MSA’s) with major carriers and tower aggregators for tower mapping and analysis services and also visual observations on environmentally sensitive sites where protected species are present.”

Roger Ponder goes on to say “while our initial roll-out is focused on telecommunications towers and antenna mounting structures, this drone technology is also applicable in many other industries including: oil & gas; transportation & shipping; commercial construction; military and any industry where structures need physical measurements taken, which will provide our company with additional revenue streams. Through the use of remote sensing it mitigates the need for people to climb and measure structures and therefore is a safety multiplier for the work environment that reduces risk exposures to workers, businesses and the public.”   

About Mantra Venture Group:

Mantra Venture Group Ltd. (MVTG) operates through its AW Solutions and Mantra Energy Alternatives subsidiaries.

AW Solutions (AW) is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. The Company’s subsidiary Mantra Energy Alternatives is developing electrochemical technologies designed to make reducing greenhouse gas emissions profitable.  For more information about the Company and its technologies visit the Company’s public filings at SEC.gov.

Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

Investor Relations
Mantra Venture Group, Ltd.

QEP Resources Announces Agreements to Sell Natural Gas Assets In Southwest Wyoming for $777.5 Million

DENVER, July 24, 2017 (GLOBE NEWSWIRE) — QEP Resources, Inc. (NYSE:QEP) (“QEP” or the “Company”) announced today that its wholly owned subsidiary, QEP Energy Company, has entered into two definitive agreements to sell natural gas assets in southwest Wyoming for combined proceeds of $777.5 million, subject to customary purchase price adjustments (the “Divestitures”).

“Our Wyoming assets have been significant contributors to the company for many years and were critical to our early success,” commented Chuck Stanley, Chairman, President and CEO of QEP. “As we continue to evolve as a company, these transactions are a necessary next step in simplifying our asset portfolio and delivering significant financial proceeds that will further strengthen our balance sheet and help fund future development projects and acquisition opportunities.”

The first agreement provides for the sale of all of QEP’s assets in the Pinedale Anticline field in Sublette County, Wyoming, for a purchase price of $740.0 million (“Pinedale Divestiture”) to Pinedale Energy Partners, LLC, an affiliate of Oak Ridge Natural Resources, LLC. The Pinedale Divestiture includes an estimated 964 Bcfe of proved reserves as of December 31, 2016, and net production in the first quarter of 2017 was 234 MMcfed, of which approximately 12% was liquids. As part of the Pinedale Divestiture, QEP has agreed to reimburse the buyer for certain deficiency charges it incurs related to gas processing and NGL transportation and fractionation contracts, if any, between the effective date of the sale and December 31, 2019, in an aggregate amount not to exceed $45.0 million. The transaction is subject to closing conditions, including regulatory approval, and is expected to close by September 30, 2017.

BMO Capital Markets served as financial advisor and Vinson & Elkins LLP provided legal counsel to QEP.  Wells Fargo Securities, LLC served as financial advisor and Baker Botts L.L.P. provided legal counsel to Pinedale Energy Partners, LLC.

In a separate transaction, the Company closed the sale of certain non-core natural gas assets in southern Wyoming to an undisclosed buyer on June 30, 2017. The purchase price was $37.5 million. The divestiture includes an estimated 15.2 Bcfe of proved reserves as of December 31, 2016, and net production in the first quarter of 2017 was approximately 4 MMcfed, of which approximately 2% was liquids.

About QEP Resources

QEP Resources, Inc. (NYSE:QEP) is an independent natural gas and crude oil exploration and production company focused in two geographic regions: the Northern Region (primarily Wyoming, North Dakota and Utah) and the Southern Region (primarily Texas and Louisiana) of the United States.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as “anticipates,” “believes,” “forecasts,” “plans,” “estimates,” “expects,” “should,” “will” or other similar expressions. Such statements are based on management’s current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. These forward-looking statements include, but are not limited to, statements regarding: the benefits of the Divestitures, including the ability of the Divestitures to strengthen QEP’s balance sheet and fund future development projects and acquisition opportunities; the estimated reserves to be divested; the estimated percentages of liquids and production associated with the assets included in the Divestitures; and the timing of the closing of the Pinedale Divestiture. Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, but not limited to: disruptions of QEP’s ongoing business, distraction of management and employees, increased expenses and adversely affected results of operations from organizational modifications due to the Divestitures; the inability of the parties to satisfy the conditions to the consummation of the Divestitures, including regulatory approval of the Pinedale Divestiture; changes in natural gas, NGL and oil prices; liquidity constraints, including those resulting from the cost or unavailability of financing due to debt and equity capital and credit market conditions, changes in our credit rating, our compliance with loan covenants, the increasing credit pressure on our industry or demands for cash collateral by counterparties to derivative and other contracts; global geopolitical and macroeconomic factors; the activities of the Organization of Petroleum Exporting Countries (OPEC); the impact of Brexit; general economic conditions, including interest rates; changes in local, regional, national and global demand for natural gas, oil and NGL; changes in, adoption of and compliance with laws and regulations, including decisions and policies concerning the environment, climate change, greenhouse gas or other emissions, natural resources, and fish and wildlife, hydraulic fracturing, water use and drilling and completion techniques, as well as the risk of legal proceedings arising from such matters, whether involving public or private claimants or regulatory investigative or enforcement measures; strength of the U.S. dollar; elimination of federal income tax deductions for oil and gas exploration and development; drilling results; shortages of oilfield equipment, services and personnel; the availability of storage and refining capacity; operating risks such as unexpected drilling conditions; transportation constraints; weather conditions; changes in maintenance, service and construction costs; permitting delays; outcome of contingencies such as legal proceedings; inadequate supplies of water and/or lack of water disposal sources; and the other risks discussed in the Company’s periodic filings with the Securities and Exchange Commission, including the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2017. QEP undertakes no obligation to publicly correct or update the forward-looking statements in this news release, in other documents, or on the website to reflect future events or circumstances. All such statements are expressly qualified by this cautionary statement.

CONTACT: Contact

William Kent, IRC

Brent Rockwood

Thunder Energies Announces a Breakthrough in the Neutron Technology

TARPON SPRINGS, Fla., July 24, 2017 (GLOBE NEWSWIRE) — Brian Buckley, Sales Manager of Thunder Energies Corporation, a publicly traded company with stock symbol (OTC:TNRG),  announced that the Company has achieved, in collaboration with the well-established company TEIS Electronic Solutions, s.r.l., from Verona, Italy, a technical breakthrough in the remote controls of the Directional Neutron Source (patent pending) with important implications for the flexibility of its applications, its marketing solution and the safety of its operators.

Photos accompanying this announcement are available at:



Dr. R.M. Santilli, Chief Scientist of Thunder Energies Corporation, states, “The fact that TEIS Electronic Solutions has joined the Thunder Energies Team in the construction of the remote controls of our Directional Neutron Source is an indication of its importance, the maturity of its construction, and the safety of its operators, thus confirming its various uses, including the detection of concealed nuclear weapons, identification of precious metals in mines, the scanning of large welds in naval construction, and others.”

Forward Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve 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. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT: Brian Buckley
Sales Manager
Thunder Energies Corporation

RigNet Announces Strategic Asset Acquisition of Data Technology Solutions (DTS)

HOUSTON, July 24, 2017 (GLOBE NEWSWIRE) — RigNet, Inc. (NASDAQ:RNET), announced today it has acquired substantially all of the assets of Data Technology Solutions (DTS), a private Louisiana based company that provides comprehensive communications and IT services to the onshore, offshore, and maritime industries, as well as disaster relief solutions to global corporate clients.

As part of RigNet’s asset purchase agreement, former DTS assets will be used to enhance customer experience, drive growth, innovation, and customer engagement. The assets will be fully integrated to strengthen RigNet’s ability to create innovative, timesaving, fully-certified communications solutions. This asset acquisition also expands our portfolio of connectivity solutions, to better serve our customers, with 4G WiMax networks based in Texas, North Louisiana, and North Dakota.

“We are excited about how these new assets expand our value proposition to our customers in North America and around the world. These assets are particularly relevant to land based operators and to the maritime market,” said Steve Pickett, RigNet’s CEO & president. 

About RigNet
RigNet (NASDAQ:RNET) is a leading global specialized provider of customized systems and solutions serving customers with complex data networking and operational requirements. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing, crew welfare, asset monitoring and real-time data services. RigNet is based in Houston, Texas and has operations around the globe. 

For more information on RigNet, please visit www.rig.net. RigNet is a registered trademark of RigNet, Inc.

CONTACT: Media / Investor Relations Contact:
Charles E. Schneider 
SVP & Chief Financial Officer
RigNet, Inc. 
Tel: +1 (281) 674-0699

Fairmount Santrol Announces Signing of Long-Term Lease for Development of Permian Basin Sand Facility in Texas

  • 40-year lease for approximately 165 million tons of fine-grade reserves
  • Construction of mining facility expected to be complete by second-quarter 2018 with annual production capacity of approximately 3 million tons
  • Total leasehold interest payments and capital expenditures, estimated at $100 million to $110 million, expected to be funded with cash
  • Reserves located near Kermit, Texas, with access to the Delaware and Midland basins; complement Fairmount Santrol’s broad product portfolio
  • Company re-opens its Shakopee, Minnesota, Northern White sand mine due to increased customer demand
  • Finalizing customer commitments for the majority of sand production from both the Kermit and Shakopee facilities
  • Company has also prepaid $50 million of term debt at end of second-quarter 2017

CHESTERLAND, Ohio, July 24, 2017 (GLOBE NEWSWIRE) — Fairmount Santrol (NYSE:FMSA), a leading provider of high-performance sand and sand-based product solutions, today announced it has entered into a definitive 40-year lease agreement for approximately 3,250 acres of sand reserves located in Winkler County, Texas, in the Permian basin near Kermit. The reserves contain approximately 165 million tons of fine-grade 40/70 and 100 mesh sand. The Company intends to build a mine and processing facility on the leased land with approximately 3 million tons of proppant sand production annually. Over the past several months, the Company has ordered equipment and started to prepare the property for construction, which should accelerate the process and support the Company’s plan for sand production by the beginning of the second quarter of 2018.  

Total leasehold interest payments and capital expenditures are estimated at $100 million to $110 million over the next 12 months.  The Company expects to fund this investment through a combination of cash on hand and cash flow generated from operations. An average royalty of less than $3 per ton, which includes water rights, will also be paid over the term of the lease on sand sold from the Kermit facility, with no minimum annual royalty.

“The unique characteristics of this property, which include contiguous reserves of fine mesh sand, water availability and prime access to existing roads, make this an excellent opportunity for Fairmount Santrol to expand our broad product offering by providing a low-cost, in-basin solution to meet the changing requests from some of our customers,” said Jenniffer Deckard, President and Chief Executive Officer. “By leasing the reserves instead of an outright purchase, we will enhance our net return on investment and ensure greater financial flexibility. The ability to expand our capacity to meet growing market demand, while continuing the progress in strengthening our capital structure, creates value for our customers, shareholders and other stakeholders.”

In addition, on June 30, 2017, Fairmount Santrol prepaid $50 million of term loans outstanding under its existing credit agreement. The prepayment was made utilizing existing cash on hand. The $50 million term loan prepayment will reduce annual interest expense by approximately $2 million.

Further, due to increased customer demand, Fairmount Santrol has proceeded to reopen its Shakopee, Minnesota, mine and sand processing plant, which are located on the Union Pacific railroad. Once fully ramped up, the facility will have annual capacity of approximately 700,000 tons. The Company expects that the plant will be operational by the end of the third quarter of 2017. 

For both the Kermit and Shakopee facilities, the Company is in the process of finalizing customer commitments for the majority of the tons that will be mined and processed. The Company also expects to receive prepayments from certain customers who sign long-term volume contracts to secure tonnage. 

Fairmount Santrol is currently in a quiet period. The Company has provided a presentation related to the Kermit transaction on its website and looks forward to providing additional detail during its second-quarter earnings conference call that will be held on August 3, 2017, at 10:00 am Eastern Time.

About Fairmount Santrol

Fairmount Santrol is a leading provider of high-performance sand and sand-based product solutions used by oil and gas exploration and production companies to enhance the productivity of their wells. The Company also provides high-quality products, strong technical leadership and applications knowledge to end users in the foundry, building products, water filtration, glass, and sports and recreation markets. Its expansive logistics capabilities include a wide-ranging network of distribution terminals and railcars that allow the Company to effectively serve customers wherever they operate. As one of the nation’s longest continuously operating mining organizations, Fairmount Santrol has developed a strong commitment to all three pillars of sustainable development, People, Planet and Prosperity. Correspondingly, the Company’s motto and action orientation is: “Do Good. Do Well.” For more information, visit FairmountSantrol.com.

Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These factors include: changes in prevailing economic conditions, including continuing pressure on and fluctuations in demand for, and pricing of, our products; loss of, or reduction in business from the Company’s largest customers or their failure to pay the Company; possible adverse effects of being leveraged, including interest rate, event of default or refinancing risks, as well as potentially limiting the Company’s ability to invest in certain market opportunities; the level of cash flows generated to provide adequate liquidity; our ability to successfully develop and market new products, including Propel SSP® and related products; our rights and ability to mine our property and our renewal or receipt of the required permits and approvals from government authorities and other third parties; our ability to implement and realize efficiencies from capacity expansion plans and facility reactivation initiatives within our time and budgetary parameters; increasing costs or a lack of dependability or availability of transportation services or infrastructure and geographic shifts in demand; changing legislative and regulatory initiatives relating to our business, including environmental, mining, health and safety, licensing, reclamation and other regulation relating to hydraulic fracturing (and changes in their enforcement and interpretation); silica-related health issues and corresponding litigation; seasonal and severe weather conditions; and other operating risks that are beyond our control.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Fairmount Santrol Holdings Inc.’s filings with the Securities and Exchange Commission (“SEC”). The risk factors and other factors noted in our filings with the SEC could cause our actual results to differ materially from those contained in any forward-looking statement.

Investor contacts:
Indrani Egleston

Matthew Schlarb

Source: Fairmount Santrol