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UPSTREAM a strategic acquisition for us since it has of the thorough process that led to the
immediate upside potential while giving transaction with Chevron.
ConocoPhillips completes steady low impact production on a monthly NOBLE ENERGY, August 24, 2020
basis,” said McLaren. “In addition, the fact
previously announced that Energy Express is based in central Alberta MIDSTREAM
gives it geographic appeal to us as well. We
Montney acquisition are confident we will be able to significantly
increase daily oil production through our
ConocoPhillips today announced that it proprietary technology maximising the Compass Energy
has completed the previously announced potential of what we think is an undervalued Systems acquires
transaction to acquire additional Montney asset for our shareholders.”
acreage in Canada from Kelt Exploration Ltd. McLaren also said Cycle Energy Industries Exterran Corporation’s US
Cash consideration for the transaction was has identified a number of potential
approximately $390mn at current foreign acquisitions in North America to add to its compression assets
exchange rates and is subject to customary portfolio and is having direct dialogue with a
post-closing adjustments. The company also number of them. Compass Energy Systems a leading provider
assumed approximately $30mn in financing CYCLE ENERGY INDUSTRIES, August 25, 2020 of compression and gas processing systems,
obligations for associated partially owned and Exterran Corporation, a global leader
infrastructure. The company now has 295,000 Noble Energy announces in natural gas processing and treatment and
net acres in the Montney with 100% working compression, are pleased to announce that
interest. October 2, 2020 special Compass signed an agreement to acquire
“The liquids-rich Montney represents an Exterran’s US, natural gas compression assets,
attractive low cost of supply resource within meeting to approve merger with expected close during the fourth quarter
our portfolio,” said Matt Fox, executive vice of 2020.
president and chief operating officer. “By with Chevron The acquisition of Exterran’s US
nearly doubling our net acreage position, compression assets supports Compass’ plans
this acquisition provides us with the scale to Noble Energy today announced that the for growth and expansion into the United
optimize development in an area where we are special meeting of shareholders to approve States and will help solidify Compass’ position
already seeing encouraging early results.” the pending combination with Chevron as an international leader in providing
Production associated with the acquired Corporation is scheduled to take place on expert and reliable compression and process
asset was approximately 15,000 barrels of Friday, October 2, 2020 at 10:00 am Central equipment solutions.
oil equivalent per day (boepd) in the second Time. “This acquisition will significantly
quarter of 2020. Given ongoing variability The record date for Noble Energy increase our U.S. footprint and our ability to
and uncertainty in the outlook for production shareholders entitled to vote at the special provide top-quality compression and process
curtailments, the company will continue meeting is the close of business on Friday, equipment to clients across the United States.
to suspend forward-looking guidance and August 21, 2020. In addition to Exterran’s Brittmoore Road
sensitivities. Noble Energy expects to file its definitive facility in Houston, this acquisition includes
CONOCOPHILLIPS, August 21, 2020 proxy statement with the US Securities and an established customer base, and experienced
Exchange Commission and begin mailing the compression employees. Our collective
Cycle Energy Industries definitive proxy statement to the Company’s expertise will extend and enhance our product
shareholders later this week. The definitive
offerings as well as our reach into U.S. and
announces acquisition of proxy statement will be available on the international markets,” states Compass
President, John Forgeron.
Investor Relations section of Noble Energy’s
Energy Express Canada website, as well as www.sec.gov. Chief Executive Officer commented, “We
Andrew Way, Exterran’s President and
As announced on July 20, 2020, Noble
Cycle Energy Industries announced today Energy entered into a definitive agreement are extremely pleased that we have reached
it continues to expand its existing energy with Chevron, under which Chevron will an agreement to sell our U.S. compression
production portfolio by acquiring 100% of acquire all of the outstanding shares of Noble fabrication business. This is not only a positive
Energy Express Canada, a junior oil and gas Energy in an all-stock transaction at an outcome for Exterran, but our employees
company located in central Alberta, Canada. enterprise value of $13bn. Under the terms of and customers as well. We look forward to
The purchase agreement of Express Canada the agreement, the company’s shareholders working with Compass in the future, and
is for 100% of the company’s issued and will receive 0.1191 shares of Chevron for each continuing to serve our customers globally for
outstanding shares. share of Noble Energy. The board of directors their needs.”
Currently, Express Canada can produce of Noble Energy unanimously recommend The integration will take place over the
approximately 100-150 barrels of oil per that shareholders vote “FOR” the merger next several weeks with an anticipated close
day using traditional recovery methods but proposal. during the fourth quarter of 2020. During this
Michael McLaren, CEO of Cycle Energy Noble Energy shareholders are encouraged time, all our clients will continue to receive
Industries stated production could increase to read the definitive proxy materials, when the same high-quality service and support
2-3x current levels by implementing Cycle they become available, including among other they have come to expect from Exterran and
Energy’s innovative recovery and optimisation things, the reasons for the board’s unanimous Compass.
technologies. recommendation that shareholders vote COMPASS ENERGY SYSTEMS, August 25, 2020
“The purchase of Energy Express is “FOR” the transaction and the background

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