Page 11 - NorthAmOil Week 24 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

Avatar, industry and

academic partners launch

CarbonTech accelerator

Avatar Innovations is excited to announce the
launch of its second CarbonTech accelerator,
showcasing an 85% increase in the number
of breakthrough technologies compared
with the 2021 accelerator cohort. This group
is comprised of 13 technology projects
sponsored by industry, led by 58 emerging
leaders employed at 21 different oil and gas
expand its footprint and enhance the of the company’s $1bn share repurchase companies from across Canada and the USA.
integrated saltwater management solutions it authorisation. The transaction is expected to The Avatar 2022 Accelerator represents
provides to oil and gas producers. close no later than June 21, 2022. the energy industry’s firm commitment to
Since the start of 2022, Goodnight has Pursuant to a nomination and standstill shaping the energy transition by supporting
signed 10 new water management agreements agreement entered in 2015, the company emerging technologies and future leaders. The
as the company continues to grow its network agreed to give Icahn Enterprises one board 2022 cohort will work through a rigorous 20-
of water systems to service more customers seat for as long as it continued to hold at least week co-development process, supported by
across key basins, including the Permian, 7,741,412 company common shares. This UCalgary and SAIT, with the final deliverable
Bakken and the Eagle Ford shales. transaction will result in Icahn Enterprises’ being an investable energy transition
“We are very pleased with our strong holdings in the company to be under this technology that will play a role in helping the
commercial momentum underscored by the threshold and the remaining director industry achieve its net-zero targets.
10 new water management agreements in just designee, Andrew Teno, will resign from As stated in the International Energy
the first half of this year,” said Ben Daitch, the board of directors within two business Agency’s Net Zero by 2050 analysis, half
CFO of Goodnight Midstream. “Placing these days following the closing of the purchase the technology required to reach net-zero
Senior Notes and securing a new credit facility agreement. emissions does not yet exist – and more than
is a testament to the strength of our business “Today’s $350mn repurchase reflects CAD4 trillion annually needs to be invested
and provides us with additional long-term efficient execution on our long-term to new energy technologies. Through this
flexibility to pursue our growth initiatives. We capital allocation plan and underscores our ground-breaking co-development model,
look forward to continuing to enhance the conviction in Cheniere’s industry-leading where the ideas for technologies and processes
compelling value we provide to our producing LNG platform at a time when environmental come from within the industry, the energy
customers as they look to expand their priorities and energy security have natural sector will build the solutions capable of
production in an environment of increased gas as a key focus globally,” said Jack Fusco, reaching net-zero emissions by 2050.
demand for US crude oil. We are appreciative Cheniere’s president and chief executive AVATAR INNOVATIONS, June 10, 2022
of our lending partners for their support and officer. “We appreciate Carl Icahn and his
loyalty.” board representatives for their support Apex, Nevada site acquired
GOODNIGHT MIDSTREAM, June 13, 2022 of Cheniere over these last almost seven
years as we have become the world’s second for largest Western US
largest LNG operator. They have provided
MOVES guidance and insight which has meaningfully renewable diesel refinery
contributed to Cheniere’s growth and strategy
Cheniere announces over that time.” Vegas Renewable Diesel (VRD) announces
acquisition of a prime site near Las Vegas for
“Our investment in Cheniere is a shining
$350mn repurchase example of IEP’s activism efforts. We were the largest renewable diesel refinery to be built
in the Western United States. Permitting is
instrumental in hiring CEO Jack Fusco, who
of shares from Icahn has assembled a great team and unlocked presently under way. Capacity is targeted at
100mn gallons per month of renewable diesel.
the value of a fantastic asset. As we have said
Enterprises many times, when the time for activism is by this new refinery will be used motor oil.
The primary feedstock to be processed
over, we generally take a profit on a portion of
Cheniere Energy announced today that our stock. To date, we have made over $1.3bn VRD’s patented refining process is flexible,
it entered into a purchase agreement to in realised and unrealised gains on Cheniere such that other petrochemical wastes,
repurchase approximately $350mn of the and, even after the sale today, we still remain seed oils, and animal fats may be mixed all
company’s common shares beneficially owned sizeable owners of Cheniere stock,” said Carl together.
by Carl C. Icahn and certain of his affiliates Icahn. The resulting fuel – which VRD terms
(Icahn Enterprises or IEP), at a purchase CHENIERE ENERGY, June 15, 2022 “w2” – is fully ASTM D975 (petroleum diesel
price of $130.52 per share, the closing price of #2 standard) compliant and blendable.
Cheniere’s common shares on June 14, 2022. VEGAS RENEWABLE DIESEL, June 13, 2022
The purchase of the shares will be funded ENERGY TRANSITION
from Cheniere’s cash on hand and is a part

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