Page 13 - NorthAmOil Week 11 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

Expansion of the pipe segment would provide points anywhere from Savannah, Georgia at December 31, 2020. In the first quarter of
the New Mexico market additional access to Miami, Florida. The market for LNG as 2021, the company operated nine of its 17 US
to refined products from El Paso-area and a bunker fuel is accelerating as more LNG based rigs and eight of its 20 based Canadian
Gulf Coast refineries via Magellan’s extensive powered ships are put into service. JAX LNG rigs and is looking forward to a potential
pipeline system. and Polaris New Energy are prepared to recovery in drilling activity over the balance of
The capital-efficient expansion would support the shipping industry’s important 2021. Karl Ruud, AKITA’s president and chief
increase the pipeline’s capacity by more effort to reduce its carbon footprint by using executive officer stated: “Activity levels in 2020
than 5,000 barrels per day (bpd), to a new LNG, an environmentally friendly fuel that were decimated by the end of the first quarter.
total capacity in excess of 30,000 bpd. The can reduce greenhouse gas emissions by over We responded by implementing a deep cost
higher capacity could be available in mid- 20%.” cutting initiative across the entire Company
2022 following the addition of incremental Last week, NorthStar, through a newly and are now in position to benefit from
pumping capabilities. formed entity, Seaside LNG Holdings, LLC, increased activity levels. Our aim in 2021
MAGELLAN MIDSTREAM PARTNERS, March 18, closed on a $137mn debt financing facility remains debt reduction and I was pleased we
2021 supporting its interest in JAX LNG and Polaris accomplished CAD10mn in debt reduction
New Energy. Proceeds from the financing will over the course of 2020 despite the reduction
be used to fund construction of the JAX LNG in operating days.”
DOWNSTREAM expansion and the ATB. Furthermore, the company is pleased to
NORTHSTAR HOLDCO ENERGY, March 18, 2021 announce that it has recently been awarded
NorthStar announces two geothermal drilling projects: one in
Alberta and a second in British Columbia,
significant progress on SERVICES whereby a portion of the revenue generated
will benefit AKITA’s First Nation partner,
expansion of its LNG AKITA announces the Saulteau First Nations. AKITA will continue
to pursue opportunities aligned with its
projects and closing of a continuation of corporate commitment to social responsibility and
welcomes an opportunity to establish itself as
new debt financing facility debt reduction plan and an industry leader in geothermal drilling.
AKITA DRILLING, March 15, 2021
NorthStar HoldCo Energy, a portfolio annual results
company of funds managed by Oaktree FERC regulatory reporting
Capital Management, is pleased to report AKITA Drilling weathered the impact of the
that the expansion of JAX LNG and the severe economic slowdown, attributable to the made easy with DataTracks’
construction of the 5,400 cubic metre LNG COVID-19 global pandemic that curtailed
articulated tug barge unit (ATB), Clean drilling activity over the last three quarters of flagship cloud-based
Canaveral, continue as expected towards 2020 by implementing a cost cutting initiative
being in service by Q4 2021. In addition, across the entire company and has emerged application, Glacier
NorthStar recently closed on a $137mn well positioned for what appears to be the first
debt financing facility to support these LNG signs of a recovery in drilling activity. Despite DataTracks announced the launch of their
expansions. operating days decreasing in both Canada flagship application to help oil, natural gas,
NorthStar and its partner at JAX LNG, and the US by 41% and 32% respectively and service companies comply with new
Pivotal LNG, a subsidiary of BHE GT&S, are in 2020, AKITA achieved CAD10mn of regulations introduced by the Federal Energy
tripling the facility’s production capability debt reduction over the course of the year, Regulatory Commission (FERC) in the US.
to 360,000 gallons per day and doubling effectively reducing its total debt from The commission has decided to adopt
LNG storage capacity to fourmn gallons. $84mn at December 31, 2019 to CAD74mn XBRL (eXtensible Business Reporting
The JAX LNG facility has been in service
since the fourth quarter of 2018 and,
through its integrated LNG marine loading
dock, JAX LNG has safely completed more
than 150 deliveries of LNG to the Clean
Jacksonville bunker barge. JAX LNG has
also been servicing additional customers in
the shipping, over-the-road trucking and
aerospace segments.
“With the excellent support we have from
our construction contractors, we are excited
to commence our expanded operations,
particularly for our new anchor customer
beginning its LNG-powered voyages in 2022,”
said Tim Casey Senior Vice President – LNG
for NorthStar. “The expansion of JAX LNG
and the construction of the Clean Canaveral
will allow us to supply our existing customers,
take on new customers and deliver LNG to

Week 11 18•March•2021 www. NEWSBASE .com P13