Page 13 - NorthAmOil Week 21 2022

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Texas and in our other areas of operation,” in tandem with existing Leak Detection & MOVES
EnLink chairman and CEO Barry E. Davis Repair (LDAR) testing methods to improve
said. “This transaction is consistent with the accuracy of reporting and increase Surge Energy America
our strategy to execute tuck-in acquisitions productivity by enabling users to find
adjacent to our existing footprints through production losses faster. announces Fitch first-time
which we can generate significant synergies “The Emissions Control and Reduction
and integrate seamlessly without incremental Initiative expands on Honeywell’s wide range credit rating and stable
resources. In addition, EnLink has a proven of ready-now technologies that are helping
strategy of redeploying underutilised assets our customers meet their sustainability goals,” outlook
to areas of high growth, thus reducing capital said Ujjwal Kumar, president of Honeywell
expenditures and achieving significantly Process Solutions. “With our pedigree in gas Surge Energy US Holdings announces Fitch
better economics than through new build detection and breadth of solutions, Honeywell Ratings has assigned a first-time ‘B’ Long-
projects, and, when completed, we expect is providing customers with a holistic and Term Issuer Default Rating (IDR) with a
this acquisition to bring a robust set of proactive approach to emission reduction that stable rating outlook to Moss Creek Resources
opportunities for our team to do just that. they’ve never had before.” Holdings, Inc. and Moss Creek Resources,
The resulting capital avoidance, coupled Honeywell recently announced a new LLC, subsidiaries of Surge Energy.
with the assets’ robust cash flow profile, set of commitments that further advance its “We believe this rating initiation by Fitch
is expected to result in a leverage neutral sustainability goals beyond the company’s demonstrates the quality of our assets, our
transaction, preserving our balanced capital existing commitment to become carbon strong track record as an operator, and
allocation plan, including the return of capital neutral in its facilities and operations by our commitment to a disciplined financial
to common unitholders, and our ability to 2035. The new pledges include a commitment strategy,” stated chief financial officer James
execute EnLink’s other growth strategies, such to develop a science-based target with the Welch.
as building our Carbon Solutions business.” Science Based Targets initiative (SBTi) that SURGE ENERGY US HOLDINGS, May 26, 2022
ENLINK MIDSTREAM, May 25, 2022 includes scope 3 emissions and participation
in the US Department of Energy’s Better
Climate Challenge. These initiatives represent ENERGY TRANSITION
SERVICES a continuation of the company’s sustainability
efforts since 2004, which have already driven Chevron, Talos and Carbonvert announce
Honeywell introduces a more than 90% reduction in the greenhouse closing of previously announced joint venture
expansion of the Bayou Bend CCS project
gas intensity of its operations and facilities.
Emissions Control & The company also supports the Paris Climate offshore Jefferson County, Texas
Agreement.
Chevron USA, through its Chevron New
Reduction Initiative will be available to customers in Q4 2022. Energies division, Talos Energy, through its
Honeywell’s methane detection capability
Talos Low Carbon Solutions division, and
to support customers’ HONEYWELL, May 24, 2022 Carbonvert announced today the execution
of definitive documentation and closing of
sustainability goals US Well Services the expanded joint venture to develop the
Bayou Bend CCS offshore carbon capture
Honeywell today announced an Emissions announces contract for and sequestration (CCS) hub, effective May
Control & Reduction Initiative designed to 1, 2022.
help customers achieve carbon neutrality in a newbuild Nyx Clean Fleet Under the terms of the transaction,
wide range of areas. The initiative will initially Chevron has acquired a 50% stake in the
focus on helping oil and gas customers with US Well Services today announced it has expanded Bayou Bend CCS joint venture for
upstream, midstream and downstream finalised a contract with one of the largest gross consideration of $50mn to Talos and
operations to monitor and reduce fugitive E&P producers in the United States to provide Carbonvert, consisting of $30mn of gross
methane emissions, which are more than 25 electric pressure pumping services. Under the upfront cash and up to $20mn of gross capital
times as potent as carbon dioxide at trapping terms of the agreement, USWS will dedicate cost reimbursement, expected to cover Talos
heat in the atmosphere according to the a newbuild Nyx Clean Fleet to support the and Carbonvert capital expenditures through
Environmental Protection Agency. customer’s development program in Texas for the project’s final investment decision (“FID”).
By combining its portfolio of fixed, an initial term of 18 months beginning early Equity interests in the joint venture are now
portable and personal gas detection solutions in the third quarter of 2022. 25 percent Talos, 25 percent Carbonvert, and
with gas cloud imaging cameras, Honeywell “With the execution of this agreement, all 50 percent Chevron, and Talos is the operator.
will provide customers with early detection four of US Well Services’ newbuild Nyx Clean The three companies have also established
of fugitive methane emissions, including the Fleets are contracted to high quality E&P an area of mutual interest (AMI) over the
precise location of any leaks and associated customers,” said Kyle O’Neill, the company’s full ~231,000-acre Jefferson County offshore
data analytics and trends. Equipped with president and CEO. “This latest agreement is region contemplated in the State of Texas’s
this data, users can act quickly to address further evidence of the strength of demand original request for proposal, aligning the
leaks and other identified risks to minimise for electric pressure pumping fleets. We are parties for future expansion opportunities.
production losses and maintain compliance excited to put this fleet to work and deliver CHEVRON USA, TALOS ENERGY AND
with legislation. best-in-class emissions, fuel cost savings and CARBONVERT, May 24, 2022
The solution – which combines wireless HSE benefits to our customer.”
gas detector technology with enterprise- US WELL SERVICES, May 24, 2022
wide data management solutions – works

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