Page 18 - NorthAmOil Week 35

NorthAmOil NEWS IN BRIEF NorthAmOil

San Mateo’s three-pipe midstream services and integrity services markets. We look continue to trade on the NYSE American
offering throughout Eddy County. forward to providing safe, dependable, on under the symbol “NOG.” The new CUSIP
SAN MATEO MIDSTREAM, September 01, 2020 time and on budget client service that is the number for the common stock following the
foundation of LoneStar Energy Fabrication, reverse stock split is 665531 307.
LS Energy Services, USA and Lineal NORTHERN OIL AND GAS, September 02, 2020
SERVICES Industries, Inc.”
LS ENERGY SERVICES USA, September 03, Sixgill and CleanConnect.
Weatherford completes 2020 ai partner to shape the
financing transactions MOVES

Weatherford International today announced AI-powered future of the oil
that it has refinanced its senior secured asset- Northern Oil and Gas and gas industry
based lending agreement through the issuance
of $500mn of senior secured first lien notes. announces 1-for-10 reverse Sixgill a leading AI IoT platform provider for
The company also amended and increased unified end-to-end machine learning lifecycle
the size of its senior secured letter of credit stock split management, announced a partnership with
agreement to $215mn. Colorado-based CleanConnect.ai to deliver
Weatherford International today Northern Oil and Gas today announced a a suite of AI solutions to the oil and gas
announced that it has refinanced its senior 1-for-10 reverse split of its common stock. industry. Sixgill’s Sense AI platform enables
secured asset-based lending agreement Beginning on September 21, 2020, the CleanConnect.ai to rapidly and easily train,
through the issuance of $500mn of senior company’s common stock will trade on the deploy and manage computer vision models
secured first lien notes. The company also NYSE American on a split-adjusted basis. for their oil and gas customers, expanding
amended and increased the size of its senior At the company’s special meeting of their solutions portfolio and unlocking the
secured letter of credit agreement to $215mn. stockholders on August 17, 2020, the value of AI-powered automation and insights.
WEATHERFORD INTERNATIONAL, August 28, company’s stockholders authorised the board Autonomous technologies are becoming
2020 of directors to effect the reverse stock split, essential to oil and gas operators’ strategic
with 95% of the shares that voted approving initiatives for improved operational agility and
LS Energy Services USA the reverse stock split. environmental compliance. By continuously
When the reverse stock split becomes
collecting and processing data from video
announces expansion into effective, the number of authorised shares of cameras installed on oil and gas sites, the
CleanConnect.ai solutions suite, powered by
the company’s common stock will decrease
Permian Basin to 135.0mn, while the number of issued and Sixgill Sense, provides operators with “hands
outstanding shares will be reduced from
off” automated intelligence and instant alerts,
LS Energy Services USA announced today approximately 436.4mn to approximately saving operators significant cost, labour, and
that Brian Petzold, vice president – strategy 43.6mn (based on shares outstanding as of time while facilitating immediate, accurate
and business development of Lone Star August 31, 2020). No fractional shares will mitigation and remediation.
Energy Fabrication, will spearhead business be issued following the reverse stock split. The companies also announced the
development for LS Energy’s new expansion In lieu of any fractional shares, any holder commercial availability of the solutions
into the Permian Basin and the Gulf Coast of less than one share of common stock will suite that includes real-time volatile organic
region. LoneStar Energy Fabrication, LS be entitled to receive cash for such holder’s compounds (VOC) gas leak detection, non-
Energy Services and Lineal Industries are fractional share. The reverse stock split will invasive tank-level monitoring, and security
affiliated companies providing energy services not impact the authorized number of shares of surveillance.
in Houston, TX, Baytown, TX, Wheeling W. preferred stock of the company. SIXGILL AND CLEANCONNECT.AI, September
VA and Bridgeville, PA. The company’s common stock will 02, 2020
The companies provide a powerful
combination of major project fabrication
solutions, construction services, specialty
pipeline construction, long term maintenance
and pipeline integrity services company
throughout the USA. The companies’ Fortune
500 client base consists of international
and domestic energy leaders in upstream,
midstream and downstream energy segments
throughout the world.
Brian Shanklin, CEO of Lone Star Energy
Fabrication, commented: “Our expanding
LS Energy Services USA offices will bring
decades of trustworthy pipeline services
experience, strong industry-leading MSA
relationships and an impeccable safety record
to the fabrication, refinery/petrochemical,
pipeline specialty construction, installation

P18 www. NEWSBASE .com Week 35 03•September•2020