Halcón Resources Announces the Sale of its Non-Operated Williston Basin Assets for ~$110 Million

HOUSTON, Sept. 20, 2017 (GLOBE NEWSWIRE) — Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”) today announced it has entered into an agreement to sell its remaining non-operated assets in the Williston Basin to a private company for approximately $104 million in cash, subject to customary closing conditions and adjustments.  The effective date of the transaction is April 1, 2017 and is expected to close within 60 days.  These properties currently produce approximately 1,891 Bbl/d of oil, 1,931 Mcf/d of gas and 65 Bbl/d of natural gas liquids.  Separately, in August the Company closed on a ~$6 million cash sale of additional non-operated Williston Basin assets to a different party.

The borrowing base on Halcón’s senior secured revolving credit facility will be reduced to $100 million upon closing of the non-operated asset sale.  As indicated in the table below, as of June 30, 2017, Halcón’s liquidity was approximately $773 million pro forma for these asset sales and other previously announced transactions.

      50% of  
  Assumed  
    Williston Basin HY Debt &  Non-Core 
Williston Basin Exercise of the  
Face Value  Actual HK  (Operated Assets)  100% of 2L Notes   Asset
 (Non-Op Assets)   Monument Draw   Adjusted HK 
Capitalization ($MM) 6/30/2017 Sale (1) Repayment (1)(2) Sales
Sales (3) North Option 6/30/2017
                 
Cash & Cash Equivalents $ 0   $ 1,400   $ (745 ) $ 20   $ 109   $ (108 ) $ 676  
                 
Senior Secured Revolving Credit Facility   153       (153 )            
12.000% Senior Secured Second Lien Notes due 2022   113       (113 )            
6.75% Senior Unsecured Notes due 2025   850       (425 )           425  
Total Debt $   1,116               $   425  
                 
Total Net Debt / (Cash) $   1,116               $   (251 )
                 
Stockholders’ Equity   732     477     (68 )           1,140  
Total Capitalization $   1,848               $   1,565  
                 
Borrowing Base $ 650   $ (510 )       $ (40 )   $ 100  
Less: Borrowings   (153 )                
Less: Letters of Credit   (6 )   3               (3 )
Plus: Cash   0                 676  
Total Liquidity $   491               $   773  
                 
Note: $477 MM adjustment to Stockholders’ Equity reflects estimated gain on sale of Williston Basin operated assets.        
(1) Impact of legal fees, advisory fees and cash taxes are not included in table.            
(2) Assumes 50% of 6.75% Senior Unsecured Notes outstanding are redeemed at 103% pursuant to the terms of the amended indenture.      
Assumes 100% of 12.0% Senior Secured Second Lien Notes outstanding are redeemed, including related prepayment premiums.      
(3) Remaining ~$104 MM of the Williston Basin Non-Op Sales is expected to close in Q4 ’17.            

Upon the closing the sale of the non-operated assets in the Williston Basin, Halcón will have completed its transition into a pure play Delaware Basin focused company.  In less than nine months, the Company has sold approximately 2,000 wellbores across its legacy assets for aggregate cash proceeds in excess of $2 billion.  With over 41,500 net acres in the core of the Delaware Basin and strong liquidity, Halcón is well positioned for significant growth going forward.  

About Halcón Resources

Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

For more information contact Quentin Hicks, Senior Vice President of Finance & Investor Relations, at 832-538-0557 or qhicks@halconresources.com.

Forward-Looking Statements

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects”, “believes”, “intends”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, or “probable” or statements that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved.  Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and other filings submitted by the Company to the U.S. Securities and Exchange Commission (SEC), copies of which may be obtained from the SEC’s website at www.sec.gov or through the Company’s website at www.halconresources.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company’s expectations.




Enphase Energy and Waaree Energies Join Forces to Deliver Smarter Solar in India

CHENNAI, India, Sept. 19, 2017 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced today that it has partnered with Waaree Energies Limited (Waaree), India’s largest Tier 1 solar panel manufacturer.

Waaree will join forces with Enphase to produce an AC solar module (ACM) for the Indian market. Waaree will offer its high quality and high reliability monocrystalline solar PV modules with Enphase Microinverters attached to the back of Waaree’s modules.

This is the first ACM partnership that Enphase Energy has established in India. The Waaree Enphase AC modules will be assembled and shipped directly from Waaree’s PV module factory, located in Surat in a 500MW state of the art facility that is one of India’s largest PV module factories.

“Enphase Energy is the first global microinverter technology company to partner with Waaree to integrate our technology onto their solar modules,” said Nathan Dunn, managing director of Enphase Asia-Pacific. “This is a truly exciting opportunity as it will allow us to extend our presence in India with a market leader in solar modules. Enphase and Waaree share the same philosophy of delivering solar solutions built on innovative technology and quality. Together, we will work toward delivering more affordable solar power to commercial and residential customers in India.”

Hitesh Doshi, chairman and managing director, Waaree Energies Limited said, “The attachment of Waaree solar PV modules with the Enphase microinverter system is a significant win for installers and customers. Not only will they enjoy the quality and performance of industry leading products, our AC solar modules will also be easier and faster to install. We are delighted to be working with Enphase Energy with its strong heritage in energy technology and continued development of quality microinverters that suit India’s unique climate and weather conditions.”

Enphase Microinverters, promoted through the Company’s Made for India campaign, are designed and proven to operate for decades in harsh climates such as India’s. Enphase offers the most advanced inverter technology on the market with higher production, greater reliability and intelligence. Installers can get better performance and smarter insights with Enphase Microinverters as they are simple to install, designed for flexibility and lead the industry with their reliability. With Enphase Microinverters, installers can reduce their installation and maintenance costs and bring greater value to their customers.

The Waaree Enphase ACMs are now available to customers in India from any of Waaree’s distribution channel partners across India.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionised solar with its microinverter technology and produces the world’s only truly integrated solar plus storage solution. Enphase has shipped approximately 15 million microinverters, and more than 661,000 Enphase systems have been deployed in more than 100 countries. For more information, visit www.enphase.com.

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

About Waaree Energies Ltd.

Waaree Energies Ltd. is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India’s largest solar PV module manufacturing capacity of 500 MWs at its plant near Surat, Gujarat. Waaree Energies is amongst the top players in India in providing EPC services, project development, rooftop solutions, and solar water pumps and it is also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.  For more information, visit www.waaree.com.

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

Contact:

Olivia Smith
Communications Manager APAC
Enphase Energy, Inc.
osmith@enphaseenergy.com
+61 402 044 811

Manish Mehta
GM – Marketing
Waaree Energies Limited
Marketing@waaree.com
+91 22 6644 4444




Sanchez Energy Announces Closing of Javelina Asset Sale

HOUSTON, Sept. 19, 2017 (GLOBE NEWSWIRE) — Sanchez Energy Corporation (NYSE:SN) (the “Company”), today announced that it closed the previously announced sale of its Javelina assets in the Eagle Ford Shale for approximately $105 million in cash, subject to customary post-closing adjustments.   

ADVISOR
Citigroup Global Markets Inc. served as the Company’s sole advisor on this transaction. 

ABOUT SANCHEZ ENERGY CORPORATION
Sanchez Energy Corporation (NYSE:SN) is an independent exploration and production company focused on the acquisition and development of U.S. onshore unconventional oil and natural gas resources, with a current focus on the Eagle Ford Shale in South Texas where the Company has assembled approximately 286,000 net acres. For more information about Sanchez Energy Corporation, please visit our website: www.sanchezenergycorp.com.

COMPANY CONTACT:
Kevin Smith
VP Investor Relations
(281) 925-4828

Cham King
Director Capital Markets & Investor Relations
(713) 756-2797

General Inquiries: (713) 783-8000
www.sanchezenergycorp.com




World Health Energy Holdings Inc. Announces MYWHEN B.I.Y Web Builder 130 Billion market launch time  

NEW YORK, Sept. 19, 2017 (GLOBE NEWSWIRE) — World Health Energy Holdings (OTC PINK:WHEN), a diversified Software, Energy and financial company www.worldhealthenergy.com  www.whentrade.com announced today that it will launch the MYWHEN B.I.Y Build It Yourself web builder mid October 2017.

The global Web Building market is estimated at over 130 Billion. The MYWHEN B.I.Y  Build It Yourself web builder will include simplicity. A array of templates and suite of unique non restricted building options and hosting. Our initial price including hosting will be $2.99. Some of the unique features are: Full API, Full developers API with freedom to create your own design development and features, Affiliate system, Build your site as native in Android and IOS App and connect through www.hurryap.com, Ecommerce solutions.

Product launch coming soon at www.mywhen.com.
WHEN CEO Uri Tadelis said that the WHEN B.I.Y Web builder at great pricing has mass world potential.

3 WHEN is a holding company and its businesses include
1) General Software Development Company. First product to market is A Instant App builder www.hurryap.com Next product www.mywhen.com WHEN BIY web builder
2) A financial online service and software company. www.whentrade.com
3) A green energy co utilizing Algae Tech see www.whengreenenergy.com

Investor Database for Future Press Releases and Industry Updates
Interested investors and shareholders are invited to be added to the corporate e-mail database for Corporate press releases and periodic industry updates by sending an e-mail to info@worldhealthenergy.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. WHEN will only own 70% of Hurryap & Mywhen and its revenues. WHEN has great potential but is not yet generating significant revenues. Although Forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subjected to known, unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one of more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contacts:
World Health Energy Holdings, Inc
+1-862-289-0003
info@worldhealthenergy.com

For Tel quotes
OTC Live Quote
1-855-732-0051
www.OTCLiveQuote.com
http://www.otclivequote.com/




Gulfport Energy Corporation Provides SCOOP Well Result

OKLAHOMA CITY, Sept. 19, 2017 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the “Company”) today provided an update on recent SCOOP well results. Key highlights include:

  • EJ Craddock 8-28X21H produced at a 24-hour initial peak production rate of 19.7 MMcfe per day, comprised of approximately 55% natural gas, 26% oil, and 19% natural gas liquids.

Gulfport recently turned-to-sales one gross (0.65 net) Woodford well located in the wet gas window in central Grady County, Oklahoma. The EJ Craddock 8-28X21H has a stimulated lateral length of 7,961 feet and a 24-hour initial peak production rate of 12.9 MMcf per day and 857 barrels of oil per day. Based upon the composition analysis, the gas being produced is 1,171 BTU gas and yielding 47.0 barrels of NGLs per MMcf of natural gas and results in a natural gas shrink of 16%. On a three-stream basis, the EJ Craddock 8-28X21H produced at a 24-hour initial production peak rate of 19.7 MMcfe per day, which is comprised of approximately 55% natural gas, 26% oil, and 19% natural gas liquids.

About Gulfport
Gulfport Energy is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America and is one of the largest producers of natural gas in the contiguous United States. Headquartered in Oklahoma City, Gulfport holds significant acreage positions in the Utica Shale of Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma. In addition, Gulfport holds an acreage position along the Louisiana Gulf Coast, a position in the Alberta Oil Sands in Canada through its approximately 25% interest in Grizzly Oil Sands ULC and has an approximately 25% equity interest in Mammoth Energy Services, Inc. (NASDAQ:TUSK). For more information, please visit www.gulfportenergy.com.

Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Gulfport expects or anticipates will or may occur in the future, future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of Gulfport’s business and operations, plans, market conditions, references to future success, reference to intentions as to future matters and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by Gulfport in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with Gulfport’s expectations and predictions is subject to a number of risks and uncertainties, general economic, market, credit or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Gulfport; Gulfport’s ability to identify, complete and integrate acquisitions of properties and businesses; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of Gulfport. Information concerning these and other factors can be found in the Company’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by Gulfport will be realized, or even if realized, that they will have the expected consequences to or effects on Gulfport, its business or operations. Gulfport has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Investor & Media Contact:
Jessica Wills – Manager, Investor Relations and Research
jwills@gulfportenergy.com
405-252-4550




CORRECTING and REPLACING — Rex Energy Provides Moraine East Area Operations Update

STATE COLLEGE, Pa., Sept. 18, 2017 (GLOBE NEWSWIRE) — In a release issued under the same headline earlier today by Rex Energy Corporation (NASDAQ:REXX), please note that in the last sentence of the fourth paragraph, it should read “3.9 MMcf/d” rather than “2.6 MMcf/d” and that in the first chart, first column, second entry it should read “3,864” rather than “2,576.” The corrected release follows:

Rex Energy Corporation (Nasdaq:REXX) today provided an update for its Moraine East Area operations.

Operational Update

Six-Well Shields Pad

The company has placed the six-well Shields pad into sales, consisting of five Marcellus wells and one Upper Devonian Burkett well. The Shields wells were drilled to an average lateral length of approximately 8,800 feet and completed in an average of 49 stages. The six wells produced at an average 24-hour sales rate per well, assuming full ethane recovery, of 9.2 MMcfe/d, consisting of 4.2 MMcf/d of natural gas, 781 bbls/d of NGLs and 50 bbls/d of condensate.

The six wells went on to produce at an average 30-day sales rate per well, assuming full ethane recovery, of 7.9 MMcfe/d, consisting of 3.6 MMcf/d of natural gas, 676 bbls/d of NGLs and 38 bbls/d of condensate. The 30-day sales rate for the Shields wells are in-line with the company’s economic projections for its 2017 Moraine East program. In addition, the company returned to its more traditional restricted choke program for the six-well Shields pad.

Four-Well Mackrell Pad

The company has also placed into sales the four-well Mackrell pad. The Mackrell wells were drilled to an average lateral length of approximately 7,630 feet and completed in an average of 45 stages. The wells produced at an average 24-hour sales rate per well, assuming full ethane recovery, of 8.4 MMcfe/d, consisting of 3.9 MMcf/d of natural gas, 723 bbls/d of NGLs and 25 bbls/d of condensate.

Shields and Mackrell Pads – 24-hour Sales Rates
 Pad   Natural Gas (Mcf/d)    NGLs (Bbls/d)    Condensate (Bbls/d)    Total (MMcfe/d)    Liquids % 
 Six-Well Shields 4,213 781 50 9,202 54 %
 Four-Well Mackrell 3,864 723 25 8,351 54 %
           
Shields Pad – 30-day Sales Rates
 Pad Natural Gas (Mcf/d) NGLs (Bbls/d) Condensate (Bbls/d) Total (MMcfe/d) Liquids %
 Six-Well Shields 3,646 676 38 7,926 54 %

Two-Well Frye Pad

The company has begun initial sales from the two-well Frye pad. The wells were drilled to an average lateral length of approximately 6,300 feet and completed in an average of 42 stages. The company expects to provide an update on the performance of the pad in the coming weeks. With the Frye pad into sales, the company expects to be at its 90 MMcf/d of capacity at the Renick compressor station in Moraine East by the end of the third quarter of 2017. Additional compression for the Moraine East Area is expected to be into service in early 2018.

“We are extremely pleased with the strong performance of the six wells on the Shields pad and the four wells on the Mackrell pad, providing strong results from the eastern portion of our Moraine East Area,” said Tom Stabley, Rex Energy’s President and Chief Executive Officer. “In addition, we are pleased with the liquids production we have seen from the Shields and Mackrell wells, which are located on the eastern portion of our Moraine East acreage.”

Third Quarter and Full-Year Production Guidance

With the Shields, Mackrell and Frye pads placed into sales during the third quarter of 2017, the company remains on target to meet its third quarter production guidance of 171.0 – 181.0 MMcfe/d and its full-year 2017 exit rate production growth rate guidance of 15% – 20%.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of federal securities laws. All statements, other than statements of historical facts, included in this release that address activities, events, developments, forecasts, or guidance that Rex Energy expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements rely on assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside Rex Energy’s ability to control or predict, that could cause results to differ materially from management’s current expectations. These risks and uncertainties include, but are not limited to, economic and market conditions, operational considerations, the timing and success of our exploration and development efforts, and other uncertainties. Additional information concerning these and other factors can be found in our press releases and public periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2016, and we strongly encourage you to review those documents to understand these risks. You should not place undue reliance on forward-looking statements because they reflect management’s views only as of the date of this release. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

About Rex Energy Corporation

Headquartered in State College, Pennsylvania, Rex Energy is an independent oil and gas exploration and production company with its core operations in the Appalachian Basin. The company’s strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio.

For more information contact:

Investor Relations
(814) 278-7130
InvestorRelations@rexenergycorp.com




Robix Announces Resignation of a Director and Appointment of a Director

LETHBRIDGE, Alberta, Sept. 18, 2017 (GLOBE NEWSWIRE) — Robix Environmental Technologies, Inc. (“Robix” or the “Corporation”) (CSE:RZX) (Frankfurt:R0X) announced today that it has accepted the resignation of Mrs. Karla Jorstad as Director and Chief Operating Officer of the Corporation. Mrs. Jorstad will continue to work with the corporation on a project basis.

The resignation will take effect immediately and at this time no replacement Director has been appointed.

About Robix:

Robix is focused on the worldwide market for oil containment, recovery and cleaning equipment specifically for the oil spill protection, oil production and water cleaning and purification industries. To that end, Robix has commercialized its C Series Clean Ocean Vessel and the P Series Stationary Platform; both are based on a patented revolutionary oil recovery technology. The C Series is a vessel that recovers oil in rough ocean waters, lakes, rivers and tailings ponds in virtually any conditions. The P Series is an oil recovery platform designed to accelerate oil recovery from settling ponds at production facilities. The Company also offers a suite of Hydro Cycle Water purification and cleaning products.

For more information please contact:

Robix Environmental Technologies, Inc.     Website: www.robixenvirotech.com  
       
Robin Ray      Chief Executive Officer  Tel: 403-327-3094
       
    Email: robin@robixenvirotech.com  

No stock exchange or any securities regulatory body has reviewed the contents of this news release.




Valero Energy Corporation and Plains All American Pipeline, L.P. Elect to Terminate Proposed Acquisition by Valero of Certain Plains Assets

SAN ANTONIO and HOUSTON, Sept. 18, 2017 (GLOBE NEWSWIRE) — Valero Energy Corporation (“Valero”) (NYSE:VLO) and Plains All American Pipeline, LP. (“Plains”) (NYSE:PAA) have mutually agreed to terminate the agreement providing for the acquisition by a subsidiary of Valero of two petroleum storage and distribution terminals located in Martinez and Richmond, California owned by a subsidiary of Plains.   

After an extensive investigation, the Federal Trade Commission (“FTC”) elected not to pursue any regulatory action with respect to the proposed transaction, but upon the conclusion of the FTC’s investigation, the Office of the Attorney General for the State of California filed suit in United States District Court for the Northern District of California, seeking to block the transaction.  Despite the fact that the court denied the Attorney General’s motion for a temporary restraining order and its motion for a preliminary injunction, Plains and Valero have each decided that it is in their best interest to terminate the transaction rather than endure the continued uncertainty that a lengthy trial would create for the California-based employees and customers of the terminals, as well as the considerable expense associated with defending a taxpayer-funded lawsuit.   

About Valero
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products. Valero, a Fortune 50 company based in San Antonio, Texas, with approximately 10,000 employees, is an independent petroleum refiner and ethanol producer, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 11 ethanol plants with a combined production capacity of 1.4 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. In addition, Valero owns the 2 percent general partner interest and a majority limited partner interest in Valero Energy Partners LP, a midstream master limited partnership. Valero sells its products in both the wholesale rack and bulk markets, and approximately 7,400 outlets carry Valero’s brand names in the U.S., Canada, the U.K. and Ireland. Please visit www.valero.com for more information.

Valero Contacts:

John Locke
VP, Investor Relations
210.345.3077

Lillian Riojas
Director, Media Relations & Communications
210.345.5002

About Plains
Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (“NGL”), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 5 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.

Plains Contacts:

Brett Magill 
Manager, Investor Relations 
866.809.1291 

Brad Leone
Director, Communications
866.809.1290




Ultra Petroleum Provides Operational and Financial Update

HOUSTON, Sept. 18, 2017 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (NASDAQ:UPL) announces the following operational and financial updates:

Operational Update

Production

As of September 15, 2017, Ultra’s total net daily production increased 8% to 796 million cubic feet equivalent (MMcfe) per day compared to an average of 738 MMcfe per day during the second quarter of 2017.

Operations

Quarter-to-date through September 15, 2017, Ultra Petroleum has drilled 48 gross operated wells and placed on production 41 gross operated wells. This compares with 43 gross operated wells drilled and 39 gross operated wells placed on production during the second quarter of 2017.

Total days per well, measured by rig-release to rig-release, averaged 10.4 days since June 30, 2017, which compares to 11.4 days in the second quarter of 2017. On September 5, 2017, the company set a new drilling record as measured by spud to total depth (TD), of 6.27 days, which compares to an average spud to TD of 9.4 days during the second quarter of 2017.

Horizontal Program Update

On August 20, 2017, Ultra spud a Lower Lance “A”, two mile horizontal well. The well reached TD of 22,483’ on September 17, 2017 with a 10,228’ lateral that was drilled 100% in the target zone. The company encountered significant sand and gas shows throughout the lateral. The well is scheduled to be completed during the first week of October 2017 with an estimated 45 frac stages. The company plans to drill two additional horizontal wells during the fourth quarter of 2017.

Financial Update

Liquidity

Ultra Petroleum announces that its bank group has approved an increase in the borrowing base under its senior secured credit facility from $1.2 billion to $1.4 billion. With this, the company plans to expand its existing secured, floating rate term loan by $175 million, subject to the successful syndication of increased commitments under its term credit facility. There is no net increase in debt as the proceeds will be used to pay down the revolving credit facility, which with this transaction has total commitments of $425 million.  These transactions are expected to be completed next week.

“By increasing the term loan to pay down our credit facility, we will not increase our overall debt, but we will significantly increase our liquidity and extend the term of our current borrowings by two years with debt that is pre-payable at an interest rate comparable to that of our credit facility,” commented Garland Shaw, Senior Vice President and Chief Financial Officer.

Commodity Hedges

During September 2017, Ultra entered into new NYMEX natural gas derivative transactions as shown in the table below:

  Production Period
  January 2018-
March 2018
April 2018-
October 2018
Natural Gas Collars    
Total Volume (Bcf)   3.4  
Floor Price per Mcf $3.45  
Ceiling price per Mcf $3.76  
     
Natural Gas Swaps    
Total Volume (Bcf)     24.1
Average price per Mcf   $3.15

Note:  Volumes and prices based on a conversion factor of 1.065 MMBtu/Mcf.

About Ultra Petroleum

Ultra Petroleum Corp. is an independent energy company engaged in domestic natural gas and oil exploration, development and production. The company is listed on NASDAQ and trades under the ticker symbol “UPL”. Additional information on the company is available at www.ultrapetroleum.com.

This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement, including any opinions, forecasts, projections or other statements, other than statements of historical fact, are or may be forward-looking statements. Although the company believes the expectations reflected in any forward-looking statements herein are reasonable, we can give no assurance that such expectations will prove to have been correct and actual results may differ materially from those projected or reflected in such statements. Certain risks and uncertainties inherent in our business as well as risks and uncertainties related to our operational and financial results are set forth in our filings with the SEC, particularly in the section entitled “Risk Factors” included in our most recent Annual Report on Form 10-K for the most recent fiscal year, our most recent Quarterly Reports on Form 10-Q, and from time to time in other filings made by the company with the SEC. Some of these risks and uncertainties include, but are not limited to, increased competition, the timing and extent of changes in prices for oil and gas, particularly in the areas where we own properties, conduct operations, and market our production, as well as the timing and extent of our success in discovering, developing, producing and estimating oil and gas reserves, weather and government regulation, the availability of oil field services, personnel and equipment. Our SEC filings are available written request to Ultra Petroleum Corp. at 400 North Sam Houston Parkway East, Suite 1200, Houston, Texas 77060 (Attention: Investor Relations) or on our website (www.ultrapetroleum.com) or from the SEC on their website at www.sec.gov or by telephone request at 1-800-SEC-0330.

For further information contact:
Sandi Kraemer
Director, Investor Relations
Phone: 281-582-6613
Email: skraemer@ultrapetroleum.com




Ormat Announces Analyst and Investor Day on September 26, 2017

RENO, Nev., Sept. 18, 2017 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. (NYSE:ORA) (the “Company”), today announced that it will host an Analyst and Investor Day, from 9 a.m. to 12:30 p.m. (ET) on Tuesday, September 26, 2017 in New York City.

Isaac Angel, Ormat’s Chief Executive Officer, will lead the discussion around the Company’s key strategies, the status of key initiatives, and Ormat’s market opportunity. Additional presentations will be made by key members of Ormat’s senior team including:

  • Doron Blachar, Chief Financial Officer;
  • Bob Sullivan, Executive Vice President Business Development, Sales and Marketing; and,
  • Raj Chudgar, President of Viridity Energy Solutions Inc., an Ormat Company

Ormat’s team will also be available for a question and answer sessions.

Mr. Todd Freeland, Co-Head of Energy and Eco Services of ORIX Corporation (TSE:8591); (NYSE:IX), and the new appointed chairman of Ormat Board of Directors will present at the event and provide introduction to ORIX, as well as his perspective on the cooperation agreement with Ormat.

Space for the event is limited. Analysts and institutional investors that are interested in attending are encouraged to contact Rob Fink of Hayden IR at ORA@haydenir.com or 646.415.8972.

The live webcast and the presentation materials will be available at www.ormat.com under News & Events in the Investor Relations section of Ormat’s website.

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (REG), with the objective of becoming a leading global provider of renewable energy. The company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. With 73 U.S. patents, Ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. Ormat has 530 employees in the United States and 720 overseas. Ormat’s flexible, modular solutions for geothermal power and REG are ideal for the vast range of resource characteristics. The company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totaling over 2,200 MW of gross capacity. Ormat’s current 727 MW generating portfolio is spread globally in the U.S., Guatemala, Guadeloupe, Indonesia and Kenya. Ormat also intends to expand its operations and provide energy management and energy storage solutions, by leveraging its core capabilities and global presence as well as through its Viridity Energy Solutions, Inc. subsidiary, a Philadelphia-based company with nearly a decade of expertise and leadership in demand response, energy management and storage.

ORMAT’S SAFE HARBOR STATEMENT

Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, see “Risk Factors” as described in Ormat Technologies, Inc.’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2017.

These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Ormat Technologies Contact:
Smadar Lavi
Head of Investor Relations
775-356-9029 (ext. 65726)
slavi@ormat.com                            

Investor Relations Agency Contact:
Rob Fink/Brett Maas
Hayden – IR
646-415-8972/646-536-7331
rob@haydenir.com / brett@haydenir.com