Page 18 - NorthAmOil Week 45
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NorthAmOil                                   NEWS IN BRIEF                                        NorthAmOil








                                                                                stock, reduced debt by $33.9mn and extended
                                                                                the term loan maturity to March 2022.
                                                                                  Natural gas production for the third
                                                                                quarter was approximately 4.1bn cubic feet
                                                                                equivalent (bcfe) and remained flat with an
                                                                                exit rate of 47mn cubic feet equivalent per day
                                                                                (mmcfed). Natural gas sales rose to $7.3mn
                                                                                for the third quarter, which was an increase
                                                                                over $6.3mn in sales for the last quarter.
                                                                                  President and CEO Meg Gentle said,
                                                                                “Natural gas markets and prices have
                                                                                recovered worldwide. Investment in new
                                                                                drilling and infrastructure is acutely needed
                                                                                to balance the market in 2021 and beyond.
                                                                                Building liquefaction terminals as fully
                                                                                integrated partnerships is the only way
                                                                                partners will secure the lowest cost of gas
       customers in the Williston Basin segment.  and 1000 lbs. at 63 ft.       and be protected from the market’s inherent
         Heath Deneke, president, chief executive   MacGregor has a long record of   volatility.”
       officer and chairman, commented: “Summit   accomplishment of delivering high-quality   TELLURIAN, November 06, 2020
       generated $59.8mn of adjusted Ebitda during   hose handling cranes for oil tanker barges to
       the third quarter, which was slightly above   Fincantieri Bay Shipbuilding, and many other   Venture Global Calcasieu
       our expectations in August. Our results   barge constructors in the US This will be the
       improved throughout the third quarter as   first pair of cranes to be delivered for an LNG   Pass announces arrival
       customers continued to return previously   bunkering application.
       shut-in production to service in large part due   The barge is being built for Polaris New   of first factory-fabricated
       to strengthening of natural gas prices. Given   Energy, a subsidiary of Northstar Midstream.
       that most of the temporary production shut-  The homeport will be Jacksonville, Florida,   liquefaction trains
       ins that impacted our financial results in the   USA and operations will service customers
       second and third quarters have been restored   along the Florida coast.  Venture Global LNG is proud to announce the
       or are in the process of being restored, we   “We are glad to select MacGregor as the   successful arrival of the first two liquefaction
       continue to expect full-year 2020 adjusted   supplier for our LNG bunker barge project’s   trains at the company’s Calcasieu Pass LNG
       Ebitda to be within our $250mn to $260mn   hose handling cranes. MacGregor’s support   export facility in Cameron Parish, Louisiana.
       guidance range.”                    prior to order was an important part of   The delivery of the highly optimized 0.6
       SUMMIT MIDSTREAM PARTNERS, November   our design development. We are confident   MTPA LNG trains, fabricated in factories,
       06, 2020                            that these cranes will meet or exceed our   less than 15 months after the project’s final
                                           customer’s requirements,” says Hugh   investment decision represents not only a
                                           Haggerty, Project Engineer, Fincantieri Bay   major project milestone but also a step-change
       DOWNSTREAM                          Shipbuilding.                        in LNG construction.
                                              “We have a long-standing relationship with   The two midscale, modular liquefaction
       MacGregor secures                   Fincantieri Bay Shipbuilding, and a proven   trains and mixed refrigerant compressor
                                           reputation of delivering high-quality hose
                                                                                skids were shipped to Louisiana from Baker
       contract to supply LNG              handling cranes to the US barge market,” says   Hughes’s manufacturing facility in Avenza,
                                                                                Italy more than two months ahead of the
                                           John Carnall, Senior Vice President, Global
       bunker barge hose handling          Services Division, MacGregor. “These are the   contractual delivery date. Each train, delivered
                                           first hose handling cranes that MacGregor
                                                                                complete and ready to install, was successfully
       cranes                              will deliver to an LNG bunkering barge,   unloaded, transported onto the Calcasieu
                                                                                Pass site and positioned on its foundations
                                           and we have tailored the specification in
       MacGregor, part of Cargotec, has received an   close cooperation with Fincantieri Bay   in less than a day. The first and second of the
       order from Fincantieri Bay Shipbuilding in   Shipbuilding’s engineering group to ensure   project’s eighteen identical trains will now be
       Wisconsin, USA to supply two fixed boom   the exact configuration for the owner’s hose   connected to their respective Chart brazed
       cranes that will handle the hoses on a new   handling operations.”       aluminum heat exchangers, or cold boxes,
       5,400 cubic metre liquefied natural gas (LNG)   CARGOTEC, November 11, 2020  eight of which are already installed on site.
       bunker barge currently under construction                                  Mike Sabel, executive co-chairman and
       and an estimated delivery by the end of 2021.   Tellurian reports third-  CEO stated: “Venture Global LNG is proud
         The order was booked into Cargotec’s third                             to demonstrate continued execution of the
       quarter of 2020 order intake.       quarter 2020 results                 strategy we pioneered. Our factory-fabricated,
         The MacGregor Rapp HP63-13F cranes                                     modular liquefaction trains enable us to
       will handle the hoses that transfer LNG from   Tellurian continues to build its integrated   deliver the fastest construction schedule in
       the barge to the LNG-powered vessel during   global natural gas business. During the third   the LNG industry while driving dramatic risk
       bunkering operations. The hoses will be 63 ft.   quarter of 2020, Tellurian raised $32.8mn in   reductions across the entire project. We look
       long and designed to handle 6,500 lbs. at 42 ft.   net proceeds through issuances of common   forward to the successful delivery of Calcasieu



       P18                                      www. NEWSBASE .com                      Week 45   12•November•2020
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