Page 13 - NorthAmOil Week 08 2023

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM OGMP 2.0 supports Williams’ next generation business on March 31, 2023. This dividend
natural gas strategy to drive transparency and is designated as an eligible dividend for
Surge Energy America decarbonization of the natural gas value chain Canadian income tax purposes. For non-
through technology investments, providing
resident shareholders, Gibson’s dividends are
announces recent acreage path-specific methane intensity certifications subject to Canadian withholding tax.
“With the continued growth of our long-
to utilities, LNG export facilities and other
acquisitions clean energy users. term, stable cash flows from our Infrastructure
“We look forward to Williams’
segment as well as our distributable cash flow
Surge Energy US Holdings announces it has contribution as OGMP 2.0 is more than a per share, which have both roughly doubled
recently added incremental acreage to the rigorous reporting framework: it is a unique over the past five years, we are pleased to
company’s portfolio. platform for collective action and peer continue the consistent, annual growth of our
In 2022 and early 2023 the company learning among our members, who jointly dividend,” said Steve Spaulding, president and
closed several bolt-on acreage transactions develop new industry norms on methane chief executive officer. “The increase reflects
in the Midland Basin, Texas that totalled management.” our continued adherence to our stated capital
approximately 6,000 net acres. These “Williams is committed to achieving allocation approach, including through the
transactions provide the company with the most stringent methane performance buyback of over 4% of outstanding shares
the opportunity to extend horizontal well standards as prescribed by OGMP 2.0, thus in 2022, as well as our financial governing
lateral lengths, increase working interest in setting the pace for the midstream sector principles, which consider Infrastructure-only
existing units, or add new inventory within in the United States,” said Alan Armstrong, payout and leverage metrics that do not rely
the company’s existing acreage footprint in Williams President and CEO. “We handle on the variable part of our business. When
Howard and Borden counties. one third of US natural gas, giving us combined with our intention to repurchase up
Additionally, the company acquired a unique visibility to how gas molecules are to CAD100mn in common shares in 2023, we
substantial acreage position in Dawson and produced, processed, transported and used. see the potential to provide a return of capital
Gaines Counties in the northern Midland By leveraging new technology across our of nearly 10% per share during the year.”
Basin that included several existing wellbores. nationwide infrastructure footprint, we are GIBSON ENERGY, February 21, 2023
The company plans to test opportunities for confident we can enhance the trust and
oil well commerciality in 2023. transparency needed to grow a differentiated Adams Resources & Energy
All of these transactions were from low-emissions gas market and provide
undisclosed sellers. clean, reliable gas supplies to domestic and announces quarterly cash
SURGE ENERGY, February 16, 2023 international buyers focused on a low-carbon
future.” dividend
WILLIAMS, FEBRUARY 21, 2023
MIDSTREAM Adams Resources & Energy today announced
that its board of directors declared a quarterly
Williams joins UN Methane Gibson Energy announces cash dividend in the amount of $0.24 per
5% dividend increase and
common share for the fourth quarter of 2022,
Performance Initiative payable on March 24, 2023 to shareholders
of record as of close of business on March 10,
Williams today announced it has joined the declares dividend 2023.
United Nations Environment Programme’s Gibson Energy announced today that its Kevin J. Roycraft, Adams’ chief executive
(UNEP) Oil and Gas Methane Partnership board of directors has approved a quarterly officer and president, commented: “We
2.0 (OGMP 2.0), the global initiative designed dividend of CAD0.39 per common share, are pleased to declare another regular cash
to improve the energy industry’s methane an increase of CAD0.02 per common share, dividend for the benefit of our shareholders.
emissions reporting and to encourage which will be payable on April 17, 2023, We have consistently paid a dividend for more
progress in reducing those emissions. Joining to shareholders of record at the close of than 25 years, which is a direct result of our
unwavering focus on ensuring the stability of
our business and the strength of our corporate
financial position.”
ADAMS RESOURCES, February 21, 2023

DOWNSTREAM
RSI Chemicals combining

forces with Imperative
Chemical Partners

Imperative Chemical Partners and RSI
Chemicals are joining to form one of the
largest oil & gas production chemicals

Week 08 23•February•2023 www. NEWSBASE .com P13