Page 13 - NorthAmOil Week 26

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NEWS IN BRIEF
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Co-CEOs Mike Sabel and Bob Pender jointly stated, “With the expansion of our Plaquemines LNG sales and purchase agreement (SPA) with PGNiG to 2.5 mtpa and in anticipation of additional near-term commercialisation, we are excited to add signi cant new resources as we prepare to commence early works at Plaquemines later this year.”
e 20 mtpa Plaquemines facility will employ a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilises highly e cient mid-scale, modular, factory-fabricated liquefaction trains in an identical con guration to its Calcasieu Pass LNG project, currently under construction in Cameron Parish, Louisiana. e Final Order for Plaquemines LNG
from the US Federal Energy Regulatory Commission (FERC) is currently scheduled to be issued no later than August 1, 2019. VENTURE GLOBAL LNG, June 27, 2019
Bechtel continues LNG leadership with first cargo delivered at Corpus Christi’s Train 2
Bechtel and customer Cheniere Energy announced the completion of the rst commissioning cargo with lique ed natural gas (LNG) from Train 2 at the Corpus
Christi Liquefaction (CCL) export terminal in Corpus Christi, Texas. rough its partnership with Cheniere, Bechtel has now delivered seven LNG trains at two sites on the U.S. Gulf Coast since 2015.
“We are pleased to have achieved another key milestone, LNG First Cargo, on the Corpus Christi Liquefaction Train 2, as part of the Commissioning and Startup process. is is the result of thoughtful planning and execution, and excellent teamwork with Bechtel,” said David Cra , Cheniere’s senior vice president Engineering and Construction. “Together we will continue to work towards reaching other milestones for the Corpus
Christi facility, including completion of Train 2 later this year and Train 3 in 2021.”
“ e collaboration between Cheniere and Bechtel has been critical in delivering success on these projects,” said Darren Mort, Bechtel’s LNG general manager. “ is milestone shows once again that our integrated, direct-hire EPC model and our philosophy of ‘design it once and build it many times’ means lower cost, shorter delivery schedules, and greater certainty of outcome for our customers.”
Since 2015, Bechtel has delivered an unprecedented 15 large-scale LNG production trains for customers around the world, including eight trains in Australia. Bechtel- delivered facilities account for roughly one- third of the global LNG capacity, supplying about 61 million tonnes of LNG each year, or enough energy to power more than 85 million homes.
BECHTEL, July 3, 2019
SERVICES
Weir Flow Control becomes Trillium Flow Technologies following sale completion to First Reserve
Trillium Flow Technologies, formerly
Weir Flow Control, today announced the completion of its sale from e Weir Group to First Reserve, a leading global private equity investment rm exclusively focused on energy. e sale to First Reserve was announced in February 2019.
Trillium Flow Technologies will consist
of the same 15 established global pump and valve brands servicing the power generation, oil and gas, water and wastewater, mining, and industrial sectors.
ese include: Sarasin-RSBDTM, Blakeborough®, Atwood & Morrill®, Hopkinsons®, SEBIMTM, BDKTM, Batley Valve®, AutoTorkTM, and Tricentric® for valves, and GabbionettaTM, WSPTM, WEMCO®, Roto-Jet®,
Floway®, and Begeman® for pumps. Trillium focuses on every stage of the process including design, installation, and operation utilizing its global footprint and supply chain, a ermarket parts and service, and seeks to provide unmatched responsiveness to demanding schedules.
Weir Flow Control’s prior acting president, David Paradis, will continue to lead Trillium and his prior management team in his new role as president and chief executive o cer.
Final details of the sale were not made available.
TRILLIUM FLOW TECHNOLOGIES, July 01, 2019
Ranger Energy Services
announces $5mn share
repurchase programme
Ranger Energy Services announced that its board of directors has authorised a share repurchase programme to purchase up to 10% of the company’s currently outstanding Class A Common Stock held by non-a liates, not to exceed 580,000 shares or $5 million in aggregate value.
“Based on our continued strong performance and, more importantly,
the con dence we have in our business
going forward, the board of directors
and management team believe that the company’s shares are an attractive investment opportunity,” said Darron Anderson, chief executive o cer.
Repurchases may be made at management’s discretion from time to time in the open market or in privately negotiated transactions. e timing and actual number of shares purchased will depend on a variety of factors including, but not limited to, stock price and general market and economic conditions, as well as the company’s working capital requirements and general business conditions.
e duration of the share repurchase programme is 12 months and may be accelerated, suspended or discontinued at
any time without notice. e repurchase programme will be funded from the company’s existing cash balance or future cash ows.
e company does not expect to incur debt to fund the share repurchase programme. e Company had 8,454,273 Class A Common Shares issued and outstanding as of March 31, 2019.
RANGER ENERGY SERVICES, June 27, 2019
Week 26 04•July•2019
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