Page 16 - NorthAmOil Week 04 2023

NorthAmOil NEWS IN BRIEF NorthAmOil

are strategically positioned to help facilitate $203mn. During the fourth quarter, Noble Third Coast owns interests in midstream
the global marine industry’s transition from executed on over $85mn of share repurchases energy infrastructure assets in the Gulf of
traditional heavy fuel to cleaner LNG, in (including the compulsory purchase of legacy Mexico, the lowest-cost and lowest- carbon
compliance with IMO 2020,” said Brandon Maersk Drilling shareholders in November intensive energy basin in the country,
Wax, Managing Director at Arroyo. “As an and open market share repurchases conducted including approximately 1,200 miles of
economic and environmentally friendly fuel during December pursuant to Noble’s interstate and intrastate pipelines, the Delta
supply alternative, we believe LNG is a key previously announced share repurchase House Floating Production System (FPS),
component in the transformation of the programme). the recently completed King’s Quay FPS,
energy landscape and Seaside LNG is well NOBLE CORP., January 20, 2023 and the Pascagoula Gas Processing plant.
positioned to lead the way by supplying LNG Deepwater Gulf of Mexico production is
to its customers.” a significant contributor to US crude oil
ARROYO INVESTORS, January 23, 2023 MOVES supplies representing over 15% of national
production, and importantly, Gulf of Mexico
ArcLight announces closing production has the lowest carbon intensity
SERVICES in the US and second lowest carbon intensity
in the world, primarily due to restrictions on
Noble Corp. provides of $407mn continuation flaring and venting of natural gas production.
fund for Third Coast
Third Coast’s integrated natural gas and
operational and financial ArcLight Capital Partners today announced liquids pipeline systems provide mandated
gas and liquids takeaway capacity, providing
update and updates on the successful completion and final close of flow assurance and transmission services to its
producer customers.
ArcLight 3C SPV, a continuation fund with
prior guidance for adjusted $407mn in capital commitments. In July, the ARCLIGHT CAPITAL PARTNERS, January 23,
Fund held its initial closing and acquired the
2023
EBITDA for the fourth remaining 25.1% interest in Third Coast Super Capstone Green Energy
Holdings from an affiliate of ArcLight Energy
quarter of 2022 Partners Fund V. The fund held additional
closings through December 2022 bolstering
Noble Corp. today provides an operational available committed capital for follow- secures follow-on order
and financial update for the fourth quarter on growth opportunities in the portfolio. from leading oil and gas
of 2022 as well as recent operational and The fund’s investor base is comprised of
contracting highlights and updates on its prior sophisticated global asset management, customer in the Marcellus
guidance for Adjusted EBITDA for the fourth insurance, and pension plan institutions.
quarter of 2022. Third Coast is the premier, privately shale region in Appalachia
In accordance with Danish legal and stock owned US Gulf Coast and Gulf of Mexico
exchange requirements, Noble announced midstream infrastructure platform focused Capstone Green Energy announced that
that, although Noble has not completed its primarily on serving eastern deepwater and E-Finity Distributed Generation, Capstone’s
preparation of audited financial statements for shallow water Gulf of Mexico producers with long-time distributor for the Mid-Atlantic,
the fourth quarter of 2022, it has determined, access to gulf coast markets. The Fund is Southeastern United States and the Caribbean,
based on preliminary results, that it expects supported both by Fund V investors as well has secured a follow-on order for two C200S
Adjusted EBITDA (a non-GAAP financial as new limited partners, offering Fund V Microturbines from a leading oil and gas
measure) to be between $140 and $150mn, investors the opportunity to either monetise producer. The systems will be deployed
rather than between $155 and $175mn their remaining interest in Third Coast or in the heart of the Marcellus Shale Play in
as previously disclosed. The reduction is to continue to participate in the Third Coast Appalachia and add to an extensive fleet of
primarily related to the previously reported business along with new identified expansion microturbine energy systems. The order is
mechanical issues on the Noble Regina Allen and growth opportunities. In addition, scheduled to be commissioned in the summer
as discussed further below. the Fund provides new investors with the of 2023.
As of December 31, 2022 Noble’s debt was opportunity to participate in a unique “Remote locations lacking grid
$673mn and cash and cash equivalents was operating platform with substantial growth connectivity are a perfect use-case for
$470mn, resulting in a net debt balance of opportunities. Capstone’s microturbines, as our oil and gas

P16 www. NEWSBASE .com Week 04 26•January•2023