Goldman Sachs just came out with an $80 price target on WTI Crude Oil. This note from National Bank helps to explain things:
“So, while the oil field service narrative has generally been muted under the context of upstream discipline, the Majors are signaling the initial innings of a demand-led recovery; we suggest that global production is potentially impaired and higher activity levels will be inevitable and could magnify the cycle through the supply side. As an example, major market prognosticators (EIA, OPEC, etc.) suggest U.S. production being restored towards 12.3 mmbbl/d by year-end 2022 (+12%); however, in our estimation, under the prevailing rig count and historical rig efficiencies, the U.S. market would actually see volumes contract. To attain the suggested forecasts, spending and activity will have to be restored, and we would suggest that U.S. oil rig counts need to average 600-650 (~2x current) to satisfy that call on supply.”
In other words, insufficient investments have been made in both restoring existing production capacity and developing new production capacity to meet the jump in upcoming forecasted demand.
It’s not that difficult to understand. If you are an oil company, when oil dipped below zero last year and you spent the rest of the year hearing about the likelihood of the same stifling lockdowns returning – all the way until the vaccine was approved in December – would you have had an easy time pouring money into pushing new production capacity into action with a six-month lag?
But now, here we are, on the verge of “reopening”, with all the pent-up travel demand that implies, and interest rates are at 0% and we have pushed several trillion dollars out the door in monetary expansion and fiscal stimulus, and no one has been willing to bet big on new oil and gas production capacity.
The energy market is simple: it’s just a supply-versus-demand equation. Right now, investors can probably rely on the ideas that implies.
With that in mind, we take a closer look at a few stocks aligned with that theme that may deserve some extra attention, including: SM Energy Co (NYSE: SM), Range Resources Corp. (NYSE: RRC), Allied Energy Ord Shs (OTC US: AGYP), and Cimarex Energy Co (NYSE: XEC).
SM Energy Co (NYSE: SM) bills itself as an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas, and NGLs in the state of Texas.
SM Energy routinely posts important information about the Company on its website.
SM Energy Co (NYSE: SM) most recently announced that it expects to release its first quarter 2021 financial and operating results after market on April 29, 2021.
Last time around, the company announced Fourth quarter 2020 production volumes at 122.4 MBoe/d, 51% oil, including production that exceeded guidance, predominantly due to better-than-expected base production from existing Midland Basin wells.
The stock has been acting well over recent days, up something like 12% in that time. Shares of the stock have powered higher over the past month, rallying roughly 12% in that time on strong overall action.
SM Energy Co (NYSE: SM) generated sales of $320.3M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 14% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($10K against $583.7M, respectively).
Range Resources Corp. (NYSE: RRC) trumpets itself as a leading U.S. independent natural gas and NGL producer with operations focused on stacked-pay projects in the Appalachian Basin.
The Company is headquartered in Fort Worth, Texas.
Range Resources Corp. (NYSE: RRC) most recently announced its first quarter 2021 financial results, including realizations before index hedges of $3.20 per mcfe, or approximately $0.51 above NYMEX natural gas, pre-hedge NGL realization of $26.35 per barrel, highest since late 2018, and NGL differential of $1.52 per barrel above Mont Belvieu, best in Company history.
Commenting on the quarter, Jeff Ventura, the Company’s CEO said, “Range continues to make progress on key near-term objectives: improving margins with a focus on cost structure, generating free cash flow, enhancing liquidity, and operating safely while maintaining peer-leading capital efficiency. There were sizable improvements in pricing quarter-over-quarter leading to Range’s $193 million in cash flow from operations before changes in working capital. The corresponding capital spending of $105 million generated solid free cash flow for the quarter.
The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 11% in that timeframe.
Range Resources Corp. (NYSE: RRC) pulled in sales of $513.4M in its last reported quarterly financials, representing top line growth of -12.6%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($458K against $706.8M, respectively).
Allied Energy Ord Shs (OTC US: AGYP) specializes in the business of reworking and re-completing existing oil and gas wells located in the thousands of mature oil and gas producing fields across the United States, with the objective of mobilizing its expertise and technology to drive higher production volumes, longer well life, and more efficient recovery of proven and available oil and gas reserves in acquired wells.
AGYP recently put out a comprehensive corporate update that explains its overall strategy, and that’s worth checking out. The strategy appears to be centered on diversification and selectivity in target wells.
Allied Energy Ord Shs (OTC US: AGYP) recently announced that it has submitted and posted its bond for the P-4 and P-5 applications to the Texas Railroad Commission, Allied is waiting on the Texas Railroad Commission to accept their bond and active the P5 operating permit.
According to the company’s release, Allied has secured Oil Cat Energy Services for the filing of the necessary Underground Injection Permit for saltwater injection for the Green lease. Allied will use Oil Cat Energy Services as the go-to solution for surveying the plat for the precise injection well location, for securing the drilling permit for the injection well, for engineering services and consulting, and workover engineering for new production well set ups for increased fluid production rates.
Allied Energy Corporation CEO, George Montieth added: “We are extremely excited about our recent acquisition of the Palo Pinto wells and have a high confidence that these wells will become part of Allied Energy Corporation’s oil production numbers. These formerly producing wells are perfect candidates for modern reworking and recompleting technology that will give these old wells new life. In many cases, the most productive days are still ahead for some of these wells!”
Allied Energy Ord Shs (OTC US: AGYP) shares have been in a sturdy upward trend over the past four months, rising as much as 500% in that time as the company ramps up its operations. Given the potential for an oil shortage this year, AGYP is well positioned for further gains as the company expands its reach and scale.
Cimarex Energy Co (NYSE: XEC) frames itself as an independent oil and gas exploration and production company with nearly 620 million barrels of proven reserves and owned interests in roughly 2,800 productive oil and gas wells.
The company’s principal operations in the Permian Basin and Mid-Continent areas of the U.S.
Cimarex Energy Co (NYSE: XEC) most recently announced that Megan Hays will join Cimarex as Vice President of Investor Relations. Megan joins Cimarex from Concho Resources Inc., where she most recently served as Vice President of Investor Relations and Public Affairs. According to the release, she has 15 years of experience in strategic communications, sustainability, corporate development and capital markets within the energy industry. Megan will report to Senior Vice President and Chief Financial Officer, Mark Burford.
Mr. Burford, said, “We are excited to have Megan join our team. She is an accomplished leader with a strong network of relationships across the financial community. Megan’s experience in the industry – from strategy to sustainability – will make her a great addition to our company.”
The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 10% in that timeframe.
Cimarex Energy Co (NYSE: XEC) pulled in sales of $434.7M in its last reported quarterly financials, representing top line growth of -33.9%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($273.1M against $660.2M, respectively).
DISCLAIMER: EDM Media LLC (EDM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. EDM is NOT affiliated in any manner with any company mentioned herein. EDM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. EDM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. EDM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed EDM has been compensated six thousand dollars for news coverage of the current press releases issued by Allied Energy Ord Shs (OTCMKTS:AGYP) by a third party.
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and EDM undertakes no obligation to update such statements.
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Thermoelectric Modules Market worth $872 million by 2026 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 11, 2021 /PRNewswire/ — According to the new market research report “Thermoelectric Modules Market with COVID-19 Impact Analysis, By Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application, and Region – Global Forecast to 2026“, published by MarketsandMarkets™, the market is projected to grow from USD 593 million in 2021 to USD 872 million by 2026; it is expected to grow at a CAGR of 8.0% during the forecast period. Owing to COVID-19, the thermoelectric modules market is estimated to face headwinds for 2020–2021. The growth of the thermoelectric modules market is driven by factors such as increasing demand for electric and luxury vehicles and the growing deployment of 5G connectivity. The new high-speed 5G telecommunication standard presents thermal challenges for critical components such as optical transceivers. Optical transceivers contain a laser diode that needs to be kept below 70°C to ensure no loss of data transmission wherein TEMs need to be deployed. Hence, with the increasing deployment of 5G equipment, there will be an increasing demand for TEMs in telecommunications. TEMs are expected to be used in future electric vehicles. TEMs are used in electric vehicles to stabilize the temperature of a car’s battery-operated system, especially for colder climates where battery efficiency can be reduced by up to 40%.
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Single stage thermoelectric modules to account for larger share of thermoelectric modules market in 2021
Single-stage thermoelectric modules account for a larger share of the thermoelectric modules market and the trend will remain the same during the forecast period. Single-stage thermoelectric modules are suitable for a wide range of cooling and heating applications with low to high heat pumping capacities (depending on the module specifications). The main advantage of a single-stage module is that it covers a vast array of consumer, commercial, and industrial needs as it is available in many shapes and sizes while offering different levels of heat pumping capabilities. It is also less complex to design and manufacture compared to multistage modules.
Bulk thermoelectric modules segment to dominate thermoelectric modules market during forecast period
Bulk thermoelectric modules accounted for the largest share of the thermoelectric modules market and the trend will remain the same during the forecast period. Bulk thermoelectric modules are suitable for a wide variety of applications and have no design constraints compared to micro or thin-film thermoelectric modules. These modules can be configured for different power draw and cooling capabilities based on their design. They are also less complex to design, and manufacture compared to smaller modules. Bulk thermoelectric modules are widely used to make related components such as thermoelectric generators (TEGs) and heat pumps. TEGs are used in power plants to convert waste heat into additional electrical power. They are prevalent in industrial processes and heating as TEGs have long service-free lifetimes compared to other conventional generators.
Consumer Electronics application to register highest share for thermoelectric modules market in 2021
Thermoelectric modules used in consumer electronics accounted for the largest share of the thermoelectric modules market and the trend will remain the same during the forecast period. Consumer electronics manufacturers must constantly innovate and improve designs to create smaller, thinner, lighter, and more reliable products that meet customer demands. Due to fast-changing consumer preferences, thermoelectric cooling solutions offer a competitive advantage by enabling OEMs to develop desirable products and bring them faster to the market. Beverage dispensers including coffee and juice/milk machines require a thermoelectric module that delivers efficient performance, low operating noise, and low maintenance requirements. Water purification systems are another application area, which requires thermoelectric coolers for both cooling and heating water. Thermoelectric solutions are also expected to be featured in consumer wearables in the future. Hence, consumer electronics holds the largest market for thermoelectric modules.
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Market in APAC estimated to have largest share during forecast period
APAC has emerged as a global focal point for large investments and business expansion opportunities. The region represents the fastest-growing market worldwide for thermoelectric modules. The increased demand for waste heat recovery, consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market in the region. APAC has a large consumer electronics industry consisting of countries such as China, Japan, and South Korea, which is the largest manufacturer and end user of consumer devices. South Korea is an important country for manufacturing portable consumer devices while China is the largest exporter of consumer refrigeration devices. Hence, for consumer electronics, the market in APAC is expected to continue to grow as markets in North America and Europe continue to stagnate over time.
North America is the most adversely affected region by the pandemic. Hesitant consumer spending on refrigerator and freezer replacements will drive the demand down for thermoelectric modules for consumer electronics. A decrease in disposable personal income is driving consumer reluctance to replace old appliances as a result of lower spending power in the US and Canada. The North American automotive market witnessed a sharp decline in 2020, resulting in fewer vehicle sales despite the introduction of new vehicle models by major automobile manufacturers. Many existing and potential vehicle buyers in North America are deferring their purchases at present. The commercial aerospace market in North America has also been severely affected, particularly in the US. The purchase of civilian aircraft production in 2020 has declined to around half of that of 2019, which, in turn, has reduced the demand for thermoelectric modules in aerospace applications.
Major vendors in the thermoelectric modules market include Ferrotec (US), II-VI Incorporated (US), KELK (Japan), Laird Thermal Systems (US), Guangdong Fuxin Technology (China), TE Technology (US), Phononic (US), INHECO Industrial Heating & Cooling (Germany), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), Z-Max (Japan), Kyocera Corporation (Japan), Align Sourcing (US), HiTECH Technologies (US), Hi-Z Technology (US), Merit Technology Group (China), KJLP ELECTRONICS (China), P&N Technology (China), Thermonamic Electronics (China), Hui Mao (China), Wellen Technology (China), and Xiamen HIcool Electronics (China).
Thermal Management Market with COVID-19 impact Analysis by Material, Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region – Global Forecast to 2025
Energy Harvesting System Market by Technology (Light, Vibration, RF, Thermal), Component, Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation, Security), and Region – Global Forecast to 2025
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Global Safes and Vaults Market Analysis, Trends, and Forecasts 2020-2024 | Technavio
The safes and vaults market is poised to grow by USD 2.09 billion between 2020-2024, progressing at a CAGR of over 6% during the forecast period.
The number of prescription drug-related thefts has increased considerably. Drug burglaries involve the theft of drugs, especially opioids, such as oxycodone, morphine, hydrocodone, and other high-strength pain relievers, mostly by medical professionals who intend to gain profits by selling the drugs in the black market. Safe storage of drugs like opioids is heavily promoted by the governing bodies of several countries to prevent illegal use. For instance, controlled drugs and related wastes in Australia must be stored in safes and vaults incorporated with alarms, video monitoring systems, seismic detectors, and locking mechanisms with dual authorization. Moreover, medical marijuana and marijuana-infused products are stored in safes and vaults as per the mandatory rule from The state of Massachusetts in the US. The demand for safes and vaults is increasing to store prescription drugs and other high-value medicines, which in turn, will boost the market growth.
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Over 37% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for safes and vaults in APAC. Market growth in this region will be faster than the growth of the market in other geographies. The safes and vaults market growth in this region can be attributed to the increasing installation of ATMs and the establishment of delivery lockers in IT parks and large residential complexes by e-commerce companies.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Know About the Key Opportunities and Growth of Safes and Vaults Market in Industrial Machinery Sector
The safes and vaults market is segmented by product (cash management safes, gun safes and vaults, depository safes, vaults and vault doors, and others), end-user (non-banking and banking), and geography (APAC, Europe, MEA, North America, and South America).
To enhance the safety and convenience features of cash management safes, market vendors are integrating advanced technologies and software. The growth of the safes and vaults market in the cash management safes segment can be attributed to the evolving consumer requirements, development of advanced software solutions, and increasing demand for ATM safes. Market growth in this segment will be faster than the growth of the market in the gun safes and vaults, depository safes, and vaults and vault doors segments.
The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are integrating advanced technologies and automated solutions in their products to enhance security and convenience.
Key Market Dynamics:
- Increasing demand from the healthcare industry
- Incorporation of advanced technologies in safes and vaults
- Increased cashless transactions
- Alpha Guardian
- American Security Products Co.
- BROWN SAFE MANUFACTURING INC.
- Diebold Nixdorf, Inc.
- dormakaba Holding AG
- Godrej Group
- Gunnebo AB
- Hayman Safe Co Inc.
- Kale Endüstri Holding AS
- Kumahira Co. Ltd.
Related Reports on Industrials Industry Include:
Ultra-low Temperature Freezer Market by End-user and Geography – Forecast and Analysis 2020-2024: The ultra-low temperature freezer market size has the potential to grow by USD 184.57 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Download Our Exclusive Sample Report
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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Gold Recently Posted Its Biggest Weekly Gain Since The Start Of 2021
PALM BEACH, Fla., May 11, 2021 /PRNewswire/ — The Pandemic has not just harmed humans, it has shred economies around the world, but as each country tries to heal their economy there are unintended results. For instance, in the US, high inflation as a result of large government initiatives… drives the price of precious metals up and up. A December article by metals watchers, FXEmpire said that the collapsing dollar could push gold to $2300 by May 2021. They said that: “The dollar is in the middle of a significant devaluation. The current breakdown could extend into Q2 2021 before the next rebound. We expect sharply higher precious metals prices as a result, with silver and platinum taking the lead… We are in a similar setup to the post-trendline breakdown of gold in 2002/2003. Consequently, (we) believe the dollar is on the verge of an accelerated decline towards 80. The weakening dollar should push gold higher into April/May 2021 before the next 6-month cycle correction.” Another industry insider, Kitco.com said: “Gold is looking to post its biggest weekly gain since the start of the year as prices crack through $1,800 and set sights on $1,850 an ounce. Analysts are not even ruling out $1,900 for next week, as they cite inflation fears and weaker U.S. dollar. At one point, gold was up more than $70 on the week on Friday, trading above $1,840 an ounce. This strength comes after more than two months of consolidation below the $1,800 level. The final push higher came as the U.S. posted much weaker-than-expected employment data. The U.S. saw only 266,000 jobs created in April. And even though that the number is still healthy, markets were expecting to see one million jobs. The disappointment was doubled when the March figures were revised from 916,000 to 770,000.” Active mining stocks mentioned in today’s commentary include: Ridgestone Mining Inc. (OTCQB: RIGMF) (TSX-V: RMI), Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX), YAMANA GOLD INC. (NYSE:AUY) (TSX:YRI), Kirkland Lake Gold Ltd. (NYSE:KL) (TSX:KL), Gold Fields Limited (NYSE: GFI).
The Kitco.com article continued: “What we’ve seen is a very significant disappointment. The economy is counting to recover, but it looks like the speed of the recovery, at least on the employment side, may not be as robust as people have hoped for,” TD Securities head of global strategy Bart Melek told Kitco News. This has significant implications when it comes to monetary policy expectations. “That means the Fed will stay true to its words that they will keep the easy monetary policy until they reach maximum employment. It looks like the U.S. is going to have unemployment issues for a while,” Melek pointed out.”
Ridgestone Mining Inc. (TSX-V: RMI) (OTCQB: RIGMF) (FSE: 4U5) BREAKING NEWS – RIDGESTONE RELEASES MAIDEN MINERAL RESOURCE ESTIMATE AT GUADALUPE Y CALVO, MEXICO – Ridgestone Mining (“Ridgestone”) is pleased to announce a maiden National Instrument 43-101 (NI 43-101) Mineral Resource Estimate for it’s Guadalupe y Calvo (“GyC”) gold-silver project in Chihuahua, Mexico. The maiden mineral resource was estimated for two principal mineralized structures, the Rosario and Nankin veins, captured within a combined pit-constrained and underground mineral resource model. Mineralization at GyC remains open for expansion both along strike and down-dip at depth. The GyC project is comprised of 20 square kilometres. Ridgestone entered into an option agreement with Endeavour Silver in December 2020 to acquire a 100% interest in the property.
- Indicated Mineral Resource: 356,000 ounces of gold-equivalent at an average grade of 1.72 g/t AuEq
- Inferred Mineral Resource: 460,000 ounces of gold-equivalent at an average grade of 4.65 g/t AuEq
* Mineral Resource Estimate for a combined pit constrained and underground scenario at a cut-off grade of 0.27 g/t AuEq in-pit and 1.33 g/t AuEq underground
“We are very pleased with this significant initial mineral resource estimate” commented Jonathan George, CEO “which is a material milestone for any junior exploration company and provides a solid foundation as we move forward to expand the resource both along strike and at depth. We are currently finalizing plans for an upcoming drill program which is planned for this fall after the rainy season. We believe this year will be an exciting and transformational year for the Company as we continue to concurrently advance our Rebeico copper-gold project in conjunction with our GyC gold-silver project.”
The estimate was completed by Marc Jutras, P.Eng., M.A.Sc. of Ginto Consulting Inc. and complies with National Instrument 43-101 (“NI 43-101”) and guidelines developed in 2014 by the Canadian Institute of Mining and Metallurgy (“CIM”). Mr. Jutras is a registered professional engineer in the provinces of British Columbia, Quebec and Newfoundland and is independent of Ridgestone. In accordance with NI 43-101 a Technical report will be filed on SEDAR within 45 days of this release. CONTINUED… Read this full release more news for Ridgestone Mining by visiting: https://www.financialnewsmedia.com/news-rmi/
In other mining news of note:
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) recently reported its results for the first quarter of 2021, noting that with gold and copper production on plan, it was well positioned to achieve its annual guidance. Production in the latter half of the year is expected to be higher than the first, mainly due to mine sequencing at Nevada Gold Mines, the commissioning of the new leach pad facility at Veladero in Argentina, the ramp-up of underground mining at Bulyanhulu and higher anticipated grades at Lumwana in Zambia.
Barrick’s Tier One gold mines all delivered strong financial performances in Q1 while revenue from its copper mines rose by 31% due to higher copper prices. Net cash increased by $0.5 billion despite an advanced tax payment to the state of Nevada on the back of operating cash flow of $1.3 billion and free cash flow of $0.8 billion.
Financial Results – Strong Earnings and Cash Flows Further Strengthening Cash Balances and Balance Sheet Were: Net earnings of $54.7 million or $0.06 per share basic and diluted compares well to net earnings of $45.0 million or $0.05 per share basic and diluted a year earlier; Adjusted net earnings were $67.2 million or $0.07 per share basic and diluted compared to adjusted net earnings of $47.2 million or $0.05 per share basic and diluted a year earlier; Cash flows from operating activities were $160.2 million and net free cash flow was $123.5 million, in line or above the averages of the preceding three quarters, further demonstrating the strength and resilience of the cash flow generation capacity of the Company; Cash flows from operating activities before net change in working capital were $183.4 million, and free cash flow before dividends and debt repayments was $76.0 million; As at March 31, 2021, the Company had cash and cash equivalents of $678.1 million, and available credit of $750.0 million, for total available liquidity of approximately $1.4 billion. Cash balances include $222.8 million available for utilization by the MARA Project. The remainder of cash and cash equivalents of $455.3 million, along with further liquidity and incoming cash flows, is more than sufficient to fully manage the Company’s business and available for the Company’s capital allocation objectives; and the Company’s quarterly dividend rate of $0.02625 per share (annual $0.105 per share) is 110% higher than the same quarter in 2020 and 425% than the same quarter in 2019.
Kirkland Lake Gold Ltd. (NYSE:KL) (TSX:KL) recently announced results from 38 holes and two wedge holes (23,911 m) of drilling along the Detour Mine Trend (“DMT”) at the Detour Lake property. The new holes being reported are the fifth batch of results from the recently announced 270,000 m exploration program, which the Company is targeting for completion by the end of 2021. The program is being completed to collect information for an updated, and potentially expanded, Mineral Reserve and to support the completion of a new production plan, expected to be released in early 2022. Most of the new holes announced today are from drilling in the Saddle Zone, located between the existing Main Pit and planned West Pit locations, which has been underexplored and has no Mineral Reserves and only limited Mineral Resources. Several new holes are also being announced from the area west of the West Pit Mineral Reserves, which also contains limited past drilling.
Gold Fields Limited (NYSE: GFI) recently published its Integrated Annual Report 2020 (IAR) and a number of associated reports on its website. These are the statutory Annual Financial Report 2020 (AFR), including the Governance Report, containing the audited consolidated financial statements for the year ended 31 December 2020, the Notice to Shareholders of the Annual General Meeting (AGM) and the 2020 Mineral Resources and Mineral Reserves Supplement. The relevant documents will also be posted to shareholders over the next few days.
These audited results contain no modifications to the reviewed financial results published on the Stock Exchange News Service on 18 February 2020. The IAR and the AFR incorporate all aspects of the Group’s business, including reviews of the South African, West African, Australian and South American operations, the Group’s project activities, as well as detailed financial, operational and sustainable development information.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty five hundred dollars for news coverage of the current press releases issued by Ridgestone Mining Inc. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
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AquaNRG Selected to Add Screening Metrics for Sandia National Lab Wettability Technologies
HOUSTON, May 11, 2021 /PRNewswire/ — Can oil and gas operators economically improve oil recovery and lower environmental footprint by altering the composition of injected brine? AquaNRG Consulting Inc. (AquaNRG), an environmental and energy technology company, has landed a new contract with NRG Systems Inc., a Sandia National Labs related licensor, to quantify that question.
AquaNRG advances next-generation diagnostic models for optimizing subsurface fluid-rock interactions and in this contract is developing an economic-environmental Screening Tool to apply patented Sandia wettability enhancement technology in improved oil recovery (IOR). Wettability describes the preference of a fluid, such as water or hydrocarbons, to stick to mineral surfaces. Applications of the technology include subsurface reservoir waterflooding, and remediation but also budding multiphase flow operations in the energy-environmental nexus such as carbon capture, utilization and sequestration (CCUS). AquaNRG will fortify the client’s existing wettability alteration model to incorporate optimization of injectate chemistry and soak time for the complex input parameter space, including:
- chemistry-based modifications to injected fluids,
- operator rock property and engineering values, and
- various reactive fluid flow considerations.
Headquartered in Houston, AquaNRG offers access to simultaneous biogeochemistry and computational fluid dynamics or reactive transport models (RTM), including aiRockTM, a SaaS-based and AI-enhanced web application. aiRockTM leverages high-performance cloud computing for predictive subsurface modeling. NRG Systems, Inc. is a privately owned company and Licensing Lead in an IOR-focused CRADA with Sandia National Laboratories.
“The existing NRG Systems, Inc. model employs Sandia’s technology to remarkably increase oil recovery while significantly reducing environmental costs. This expanded linkage to cloud-based technical, financial, and regulatory resources will create an even more powerful tool for production planning and operations,” noted Helmuth Heneman, NRG Systems’ President.
“We are extremely pleased to continue working with NRG Systems on Sandia’s cutting-edge technology. This collaboration further underpins the strong synergies between two companies which focus on developing novel workflows for sustainable energy production. In this work, our interdisciplinary project team will enhance AquaNRG’s core capabilities to add new modules that are critical in gaining concurrent insights with respect to IOR, quantity and quality of produced water, cost-saving, and CO2 footprint per produced barrel,” stated AquaNRG CEO and Founder Babak Shafei.
The Screening Tool effectively interfaces with industry data and other AquaNRG advanced subsurface services such as aiRockTM to advance go/no-go screening metrics for subsurface wettability alteration technologies.
Founded in 2017, AquaNRG has been awarded 3 prestigious Small Business Innovation Research (SBIR) grants with the total amount of $1,400,000 from the US Department of Energy and National Science Foundation. AquaNRG’s RTMs have already been used by major independent E&P companies, helping to increase energy production and optimization, IOR, and CCUS. Furthermore, other industries such as mining and nuclear waste management companies use these models, respectively, to forecast the extent of acid mine generation and movement, and assess transport in engineered barrier systems (repository safety).
SOURCE AquaNRG Consulting
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