Page 14 - NorthAmOil Week 05

NorthAmOil
NEWS IN BRIEF
NorthAmOil
the problem was that this type of technology was too large, expensive, and complex for oil re neries and energy facilities of all kinds. With the advent of compact NMR hardware, our machine learning and AI algorithms
can come to life in a variety of applications, and we are committed to delivering fully integrated solutions to the energy industry in partnership with Nanalysis.”
Sean Krakiwsky, founder and CEO
of Nanalysis Scienti c added: “Working with an experienced global leader such
as SARTEC is critical to driving adoption of our products in the energy industry
and other industrial process markets.
is partnership is consistent with one
of our key strategic business objectives,
the “appi cation” of NMR in Industry 4.0 environments using our leading permanent magnet based compact NMR technology. SARTEC has second-to-none domain expertise, advanced so ware technology, and a unique vision for bringing re nery and other industrial processes into the fourth industrial revolution.”
NANALYSIS SCIENTIFIC AND SARAS RICERCHE E TECNOLOGIE, January 29, 2020
Shell finalises sale of Martinez Refinery
Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell announced today that it
has formally closed on the sale of Shell’s Martinez Re nery in California to PBF Holding Company (PBF), a subsidiary of PBF Energy, Inc., in exchange for $1.2bn which includes the re nery and inventory. e deal also includes crude oil supply and product o ake agreements, and other adjustments.
ROYAL DUTCH SHELL, February 01, 2020
SERVICES
RPC reports fourth-quarter 2019 financial results
RPC today announced its unaudited results for the fourth quarter and year ended December 31, 2019. RPC provides a broad range of specialised oil eld services and equipment primarily to independent and major oil eld companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets.
For the quarter ended December 31,
2019, revenues were $236.0mn, a decrease
of 37.4%, compared with $376.8mn in the fourth quarter of 2018. Revenues decreased due to lower activity levels and pricing, a more pronounced fourth quarter seasonal decline than in the prior year, and a smaller eet of pressure pumping equipment. Operating loss for the fourth quarter of 2019 was $27.9mn compared to operating pro t of $19.7mn in the same period of the prior year. Adjusted operating loss for the fourth quarter of 2019 was $17.3mn. Net loss for the fourth quarter of 2019 was $23.4mn, or $0.11 loss per
share, compared to net income of $13.4mn,
or $0.06 diluted earnings per share, in the fourth quarter of 2018. Adjusted net loss for the fourth quarter of 2019 was $13.9mn, or $0.07 adjusted loss per share. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the fourth quarter of 2019 was $12.6mn, compared to EBITDA of $61.7mn in the same period of the prior year.3 Adjusted EBITDA for the fourth quarter of 2019 was $23.2mn.
For the 12 months ended December
31, 2019, revenues decreased to $1.22bn compared to $1.72bn in the prior year. Net loss for the 12 months ended December 31, 2019 was $87.1mn, or $0.41 loss per share, compared to net income of $175.4mn, or
$0.82 diluted earnings per share in the prior year. Adjusted net loss for the 12 months ended December 31, 2019 was $26.5mn, or $0.12 adjusted loss per share.1
RPC, January 29, 2020
Nuverra Pilots Ondiflo blockchain automation of field service delivery in the Marcellus and Utica formations
Nuverra Environmental Solutions today announced the successful completion of
its 2000th eld ticket for its operators in
the Marcellus and Utica basins leveraging Ondi o, a blockchain platform for the oil and gas industry.
By leveraging the Ondi o platform for the automation of its produced water hauling, frack water hauling and service jobs, Nuverra is focusing primarily on the optimisation of the dispatching of trucks to the eld and the automation of the ticketing process. Nuverra and its customers, who are operators or third-party trucks coming to their saltwater disposals, are hoping to achieve a much leaner order-to-settlement process. Achieving this relies on the visibility and the transparency enabled between parties through the Ondi o platform and in particular by smart contracts validating the key information recorded in the blockchain immutable ledger.
e pilot, scheduled for three months, has been deployed across 5 terminal locations, servicing over 100 well pads and 20 disposal sites (saltwater disposal or frack) and already includes more than 100 users (drivers and dispatchers). e pilot covers produced water, frack water and service work tickets. NUVERRA ENVIRONMENTAL SOLUTIONS, January 29, 2020
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Week 05 05•February•2020