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Halliburton and Optime

Subsea form global alliance

Halliburton and Optime Subsea today
announced they formed a global strategic
alliance to apply Optime’s innovative
Remotely Operated Controls System (ROCS)
to Halliburton’s completion landing string
services. The companies will also collaborate
and offer intervention and workover control
Complex (HPC), a world-class integrated group, along with a group of new lenders, system services leveraging Optime’s Subsea
propane dehydrogenation (PDH) and worked with us to amend and restate our Controls and Intervention Light System
polypropylene (PP) production facility, which existing revolving credit facility. The amended (SCILS) technology, a remote digital enabled
will be operational in early 2022. and restated facility provides Blue Racer system that complements Halliburton’s subsea
“The APIP grant recognises the significant with ample liquidity to finance growth intervention expertise. The alliance will provide
contribution HPC has and will continue opportunities as well as to continue delivering umbilical-less operations and subsea controls
to make to the Alberta economy,” stated high quality services to our customers in the for deepwater completions and interventions
Christian Bayle, Inter Pipeline’s president and Appalachian basin.” delivering increased operational efficiencies
chief executive officer. “HPC’s construction A syndicate of 15 banks committed to while minimising safety risk through a smaller
has created thousands of well-paid technical, the facility. Wells Fargo Securities acted as offshore footprint. Halliburton will offer
manufacturing and construction jobs over sole bookrunner. Wells Fargo, Capital One, Optime’s innovative technologies as a service
its multi-year build and has been a symbol National Association, RBC Capital Markets, across its global portfolio.
of hope during difficult economic times for Toronto-Dominion Bank, New York Branch, “We are excited to work with Optime
the Province. In total we expect that roughly BBVA USA, Truist Securities and US Bank and leverage their technologies within our
CAD3bn or three quarters of the project National Association, acted as joint lead existing subsea completions and intervention
construction spend will be invested directly arrangers. solutions,” said Daniel Casale, vice president
into materials and services provided by Vinson & Elkins LLP acted as legal advisor of testing and subsea. “Our alliance advances
Alberta businesses. to Blue Racer. remote capabilities and provides a capital
“Furthermore, we expect HPC to generate BLUE RACER MIDSTREAM, April 08, 2021 efficient solution, allowing customers to
hundreds of permanent high-quality full-time reduce safety risk, operational footprint, setup
jobs and substantial ongoing tax revenue for and run-time.”
government. We appreciate the Government DOWNSTREAM “We believe that strong mutual alliances
of Alberta’s support of HPC, and we believe across the vertical supply chain drives
it sends a clear message to the international Valero Energy provides continuous improvements needed in our
investment community – future large-scale industry,” said Jan-Fredrik Carlsen, CEO
petrochemical investments are welcome in guidance on first-quarter of Optime Subsea. “By solidifying this
Alberta.” relationship with Halliburton and combining
INTER PIPELINE, April 05, 2021 2021 results their well-established, reputable service
and technology capabilities with Optime’s
Blue Racer Midstream Valero Energy is providing preliminary innovative controls and intervention
estimated ranges for certain financial
technology, more customers will have access
amends and restates information reflecting market and operating to these cost-efficient subsea solutions.”
conditions experienced during the first
HALLIBURTON AND OPTIME SUBSEA, April 07,
existing revolving credit quarter of 2021. Valero expects to report a 2021
net loss attributable to Valero stockholders
facility, extending maturity in the range of $2.05-1.81 per share for the ENERGY TRANSITION
first quarter of 2021. The company expects
three years to 2025 electricity and natural gas costs incurred
primarily by its refining and ethanol business
Blue Racer Midstream announced today that segments to be higher than expected for the Oxy Low Carbon Ventures,
it completed the amendment and restatement first quarter of 2021 due to the impacts of Cemvita Factory announce
of its existing revolving credit facility. The Winter Storm Uri. The preliminary estimated
amended and restated credit facility provides impact of excess energy costs included in plan to develop pilot plant
up to $750mn of borrowing capacity and the range of net loss attributable to Valero
extends the facility’s maturity date by three stockholders noted above is $1.18-1.14 per for innovative CO2-to-bio-
years to 2025. share.
Kyle Irons, executive vice president and VALERO ENERGY, April 08, 2021 ethylene technology
chief financial officer, commented, “We are
pleased that members of our existing bank Oxy Low Carbon Ventures (OLCV), a

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