The company, which has its top executive based in the company’s Houston office, plans to use the proceeds to pay off debt and fund further drilling in North Texas.
Reported by bizjournals 3 hours ago.
Oil and gas co. closes Texas asset sale
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Taco Ranch — the Tex-Mex concept from P. Terry's founder — plans location near UT campus
Taco Ranch, the Tex-Mex restaurant concept from the owners of P. Terry’s Burger Stand, is set to take over the former Taco Cabana space on Martin Luther King Jr. Boulevard near the University of Texas campus. That's according to Matthew Odam with the Austin American-Statesman, who reports the second Taco Ranch will be serving guests this summer at 517 W. MLK Blvd. Patrick Terry opened the first Taco Ranch in January at MoPac Boulevard and U.S. Highway 290 — inside an old Burger King location…
Reported by bizjournals 3 hours ago.
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Texas State student who died after fraternity event had nearly 5 times legal limit of alcohol
Reported by DallasNews 56 minutes ago.
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Disability rights group threatens to sue Texas for not offering voter registration services
Reported by DallasNews 49 minutes ago.
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Girl power - life's going swimmingly for all-female fish species
WASHINGTON (Reuters) - An all-female freshwater fish species called the Amazon molly that inhabits rivers and creeks along the Texas-Mexico border is living proof that sexual reproduction may be vastly over-rated.
Reported by Reuters India 2 hours ago.
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Grid Batteries Will Hurt Wholesale Power Generators
Last month, one of the largest and most significant electric utilities in the Midwest, American Electric Power (AEP), made a quiet announcement. We believe it portends more disruption for the U.S.'s electric power business. AEP, a virtual icon among U.S. coalfired power generators, has proposed building battery storage projects to improve reliability in its Texas distribution network. These batteries and associated distribution network improvements would be part of the utility's regulated rate base. Innocuous, right? Not if you’re in the…
Reported by OilPrice.com 2 hours ago.
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Orthofix Schedules Fourth Quarter and Fiscal 2017 Earnings Release and Conference Call for February 26, 2018
LEWISVILLE, Texas--(BUSINESS WIRE)--Orthofix International N.V. (NASDAQ:OFIX), a global medical device company focused on musculoskeletal healing products and value-added services, today announced that it plans to release financial results for the fourth quarter and fiscal 2017 after market close on Monday, February 26, 2018. Brad Mason, Chief Executive Officer, and Doug Rice, Chief Financial Officer, will host a conference call and webcast to review the Company’s results at 4:30 p.m. ET the sa
Reported by Business Wire 2 hours ago.
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New photo book 'Hometown Texas' shows what it means to be a Texan. Meet the authors in Dallas Saturday
Reported by DallasNews 34 minutes ago.
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Reata Announces Improvements in Kidney Function With Bardoxolone Methyl Maintained for Two Years in PAH Patients From LARIAT Trial
*Progressive loss of kidney function is a validated independent predictor of death and hospitalization in PAH patients*
*Increases in eGFR from bardoxolone methyl treatment were maintained for two years*
*Longest duration of treatment in any patient population studied*
*Conference call to update bardoxolone rare CKD program on February 13, 2018, at 8:30AM ET*
IRVING, Texas, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Reata Pharmaceuticals, Inc. (Nasdaq:RETA) (Reata or Company), a clinical-stage biopharmaceutical company, today announced results from the long-term follow up portion of the LARIAT study demonstrating that pulmonary arterial hypertension (PAH) patients treated with bardoxolone methyl (bardoxolone) experienced kidney function improvements that were durable for two years and not associated with adverse outcomes. The two-year duration of sustained eGFR improvement in LARIAT is twice as long as Reata has previously reported for bardoxolone and supports the rationale for Reata’s ongoing CARDINAL and PHOENIX programs in rare forms of chronic kidney disease (CKD).
Progressive loss of kidney function is a prevalent and critical complication for patients with PAH and is a validated, independent predictor of mortality and all-cause hospitalization in this population. PAH patients experience an annualized loss of kidney function of approximately 8 to 13 mL/min/1.73 m^2. Patients in the placebo-controlled, double-blind phase of LARIAT had impaired kidney function upon study entry with an eGFR averaging 75.6 mL/min/1.73 m^2. Patients who received treatment with bardoxolone (n=71) had significantly increased eGFR compared to placebo (n=30) by 10.6 mL/min/1.73 m^2 (p
After patients in LARIAT completed 16 weeks of treatment, all patients were eligible to receive bardoxolone in an open-label extension study. At the time of the analysis, 55 patients had received at least 56 weeks of bardoxolone treatment, and 26 of these patients had received bardoxolone treatment for at least 104 weeks. After 56 weeks of treatment, patients experienced a significant, mean increase in eGFR of 10.7 mL/min/1.73 m^2 from baseline (p
The LARIAT PAH patients experienced a lower rate of hospitalization when compared to recent registrational and observational PAH studies, and there were no deaths among these LARIAT PAH patients. Upon study entry, the LARIAT PAH patients had a median time since diagnosis of 3.3 years (n=101; 66 weeks median duration of treatment). For patients with PAH, the median survival from time of diagnosis is 4 to 7 years.
“Loss of kidney function is common in PAH patients and associated with an increased risk of adverse outcomes and death. Treatments for PAH improve symptoms but often worsen kidney function, placing patients at greater risk,” said Daniel W. Coyne, M.D., Nephrologist and Professor of Medicine at Washington University in St. Louis, Missouri. “The two-year trial data are the longest available with bardoxolone and suggest raising kidney function with bardoxolone is not harmful and is likely to be beneficial in PAH patients and other disease states.”
The two-year eGFR data from LARIAT extend earlier observations that bardoxolone treatment is associated with preservation of kidney function. Recently published data from Reata’s diabetic CKD trials (BEAM and BEACON) demonstrated that eGFR improvements from bardoxolone treatment were durable for at least one year and associated with a more than 50% reduced likelihood of adverse renal events validated to predict kidney failure. Most important, these data demonstrated that patients treated with bardoxolone for at least one year had a persisting improvement in kidney function versus placebo even after the drug was withdrawn for one month. This persisting increase after withdrawal suggests that the drug is improving, not harming, the structure of the kidney in humans as it does in multiple animal models of CKD.
“Through these analyses of long-term clinical data, we have been able to differentiate the improvements in kidney function with bardoxolone from agents that may modestly, transiently, and adversely increase kidney function by increasing blood pressure in the kidney,” said Colin Meyer, M.D., Reata’s Chief Medical Officer. “The longer term data in PAH patients, who are extremely sensitive to any adverse perturbations of renal or cardiac function, provides further evidence that bardoxolone may be beneficial, and not harmful, to the kidney.”
*CONFERENCE CALL INFORMATION*
Date: Tuesday, February 13, 2018
Time: 8:30AM ET
Audience Dial-in (toll-free): (844) 348-3946
Audience Dial-in (international): (213) 358-0892
Conference ID: 8850769
Webcast Link: https://edge.media-server.com/m6/p/zgexpb9f
*About Kidney Function and PAH*
The role of kidney dysfunction and outcomes in PAH has recently been characterized in an analysis of data from the REVEAL registry, the largest US cohort of patients with PAH (Chakinala et al., 2017). The analysis showed that, in PAH patients, a decline in renal function was associated with a nearly two-fold increase in mortality (HR=1.90; p
*About LARIAT*
LARIAT is a two-part study of the efficacy and safety of bardoxolone in patients with pulmonary hypertension. Part 1 was a double-blind, randomized, placebo-controlled treatment period, and Part 2 was an open-label extension period. The study enrolled primarily WHO Group I PAH patients classified as WHO/NYHA Functional Class II and III, including those with CTD-PAH. Patients receiving one or two disease-specific PAH therapies, including endothelin receptor antagonists, riociguat, phosphodiesterase5 (PDE5) inhibitors, or prostacyclins (subcutaneous, oral, or inhaled), were eligible for enrollment. Patients from Part 1 who completed the 16-week treatment period as planned were eligible to continue directly into the extension period (Part 2) to evaluate the intermediate and long-term safety and efficacy of bardoxolone.
*About Bardoxolone Methyl*
Bardoxolone is an experimental, oral, once-daily activator of Nrf2, a transcription factor that induces molecular pathways that promote the resolution of inflammation by restoring mitochondrial function, reducing oxidative stress, and inhibiting pro-inflammatory signaling. Bardoxolone is currently being studied in the Phase 3 portion of the CARDINAL trial in patients with CKD caused by Alport syndrome as well as the Phase 2 PHOENIX trial in patients with autosomal dominant polycystic kidney disease, IgA nephropathy, type 1 diabetic CKD, and focal segmental glomerulosclerosis. In addition to the CARDINAL and PHOENIX trials, bardoxolone is currently being studied in CATALYST, a Phase 3 study for the treatment of connective tissue disease associated pulmonary arterial hypertension. The FDA has granted orphan designation to bardoxolone for the treatment of Alport syndrome and the treatment of pulmonary arterial hypertension.
*About Reata Pharmaceuticals, Inc.*
Reata is a clinical-stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation. Reata’s two most advanced clinical candidates, bardoxolone and omaveloxolone, target the important transcription factor Nrf2 that promotes the resolution of inflammation by restoring mitochondrial function, reducing oxidative stress, and inhibiting pro-inflammatory signaling.
*Forward-Looking Statements*
This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding the success, cost and timing of our product development activities and clinical trials, our plans to research, develop and commercialize our product candidates, and our ability to obtain and retain regulatory approval of our product candidates. You can identify forward-looking statements because they contain words such as “believes,” “will,” “may,” “aims,” “plans,” and “expects.” Forward-looking statements are based on Reata’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, (i) the timing, costs, conduct, and outcome of our clinical trials and future preclinical studies and clinical trials, including the timing of the initiation and availability of data from such trials; (ii) the timing and likelihood of regulatory filings and approvals for our product candidates; (iii) the potential market size and the size of the patient populations for our product candidates, if approved for commercial use, and the market opportunities for our product candidates; and (iv) other factors set forth in Reata’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K, under the caption “Risk Factors.” The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
*Contact:*
Reata Pharmaceuticals, Inc.
(972) 865-2219
info@reatapharma.com
http://news.reatapharma.com
*Investor Relations:*
Vinny Jindal
Vice President, Strategy
(469) 374-8721
ir@reatapharma.com
*Media:*
Matt Middleman, M.D.
LifeSci Public Relations
(646) 627-8384
matt.middleman@lifescipublicrelations.com Reported by GlobeNewswire 2 hours ago.
*Increases in eGFR from bardoxolone methyl treatment were maintained for two years*
*Longest duration of treatment in any patient population studied*
*Conference call to update bardoxolone rare CKD program on February 13, 2018, at 8:30AM ET*
IRVING, Texas, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Reata Pharmaceuticals, Inc. (Nasdaq:RETA) (Reata or Company), a clinical-stage biopharmaceutical company, today announced results from the long-term follow up portion of the LARIAT study demonstrating that pulmonary arterial hypertension (PAH) patients treated with bardoxolone methyl (bardoxolone) experienced kidney function improvements that were durable for two years and not associated with adverse outcomes. The two-year duration of sustained eGFR improvement in LARIAT is twice as long as Reata has previously reported for bardoxolone and supports the rationale for Reata’s ongoing CARDINAL and PHOENIX programs in rare forms of chronic kidney disease (CKD).
Progressive loss of kidney function is a prevalent and critical complication for patients with PAH and is a validated, independent predictor of mortality and all-cause hospitalization in this population. PAH patients experience an annualized loss of kidney function of approximately 8 to 13 mL/min/1.73 m^2. Patients in the placebo-controlled, double-blind phase of LARIAT had impaired kidney function upon study entry with an eGFR averaging 75.6 mL/min/1.73 m^2. Patients who received treatment with bardoxolone (n=71) had significantly increased eGFR compared to placebo (n=30) by 10.6 mL/min/1.73 m^2 (p
After patients in LARIAT completed 16 weeks of treatment, all patients were eligible to receive bardoxolone in an open-label extension study. At the time of the analysis, 55 patients had received at least 56 weeks of bardoxolone treatment, and 26 of these patients had received bardoxolone treatment for at least 104 weeks. After 56 weeks of treatment, patients experienced a significant, mean increase in eGFR of 10.7 mL/min/1.73 m^2 from baseline (p
The LARIAT PAH patients experienced a lower rate of hospitalization when compared to recent registrational and observational PAH studies, and there were no deaths among these LARIAT PAH patients. Upon study entry, the LARIAT PAH patients had a median time since diagnosis of 3.3 years (n=101; 66 weeks median duration of treatment). For patients with PAH, the median survival from time of diagnosis is 4 to 7 years.
“Loss of kidney function is common in PAH patients and associated with an increased risk of adverse outcomes and death. Treatments for PAH improve symptoms but often worsen kidney function, placing patients at greater risk,” said Daniel W. Coyne, M.D., Nephrologist and Professor of Medicine at Washington University in St. Louis, Missouri. “The two-year trial data are the longest available with bardoxolone and suggest raising kidney function with bardoxolone is not harmful and is likely to be beneficial in PAH patients and other disease states.”
The two-year eGFR data from LARIAT extend earlier observations that bardoxolone treatment is associated with preservation of kidney function. Recently published data from Reata’s diabetic CKD trials (BEAM and BEACON) demonstrated that eGFR improvements from bardoxolone treatment were durable for at least one year and associated with a more than 50% reduced likelihood of adverse renal events validated to predict kidney failure. Most important, these data demonstrated that patients treated with bardoxolone for at least one year had a persisting improvement in kidney function versus placebo even after the drug was withdrawn for one month. This persisting increase after withdrawal suggests that the drug is improving, not harming, the structure of the kidney in humans as it does in multiple animal models of CKD.
“Through these analyses of long-term clinical data, we have been able to differentiate the improvements in kidney function with bardoxolone from agents that may modestly, transiently, and adversely increase kidney function by increasing blood pressure in the kidney,” said Colin Meyer, M.D., Reata’s Chief Medical Officer. “The longer term data in PAH patients, who are extremely sensitive to any adverse perturbations of renal or cardiac function, provides further evidence that bardoxolone may be beneficial, and not harmful, to the kidney.”
*CONFERENCE CALL INFORMATION*
Date: Tuesday, February 13, 2018
Time: 8:30AM ET
Audience Dial-in (toll-free): (844) 348-3946
Audience Dial-in (international): (213) 358-0892
Conference ID: 8850769
Webcast Link: https://edge.media-server.com/m6/p/zgexpb9f
*About Kidney Function and PAH*
The role of kidney dysfunction and outcomes in PAH has recently been characterized in an analysis of data from the REVEAL registry, the largest US cohort of patients with PAH (Chakinala et al., 2017). The analysis showed that, in PAH patients, a decline in renal function was associated with a nearly two-fold increase in mortality (HR=1.90; p
*About LARIAT*
LARIAT is a two-part study of the efficacy and safety of bardoxolone in patients with pulmonary hypertension. Part 1 was a double-blind, randomized, placebo-controlled treatment period, and Part 2 was an open-label extension period. The study enrolled primarily WHO Group I PAH patients classified as WHO/NYHA Functional Class II and III, including those with CTD-PAH. Patients receiving one or two disease-specific PAH therapies, including endothelin receptor antagonists, riociguat, phosphodiesterase5 (PDE5) inhibitors, or prostacyclins (subcutaneous, oral, or inhaled), were eligible for enrollment. Patients from Part 1 who completed the 16-week treatment period as planned were eligible to continue directly into the extension period (Part 2) to evaluate the intermediate and long-term safety and efficacy of bardoxolone.
*About Bardoxolone Methyl*
Bardoxolone is an experimental, oral, once-daily activator of Nrf2, a transcription factor that induces molecular pathways that promote the resolution of inflammation by restoring mitochondrial function, reducing oxidative stress, and inhibiting pro-inflammatory signaling. Bardoxolone is currently being studied in the Phase 3 portion of the CARDINAL trial in patients with CKD caused by Alport syndrome as well as the Phase 2 PHOENIX trial in patients with autosomal dominant polycystic kidney disease, IgA nephropathy, type 1 diabetic CKD, and focal segmental glomerulosclerosis. In addition to the CARDINAL and PHOENIX trials, bardoxolone is currently being studied in CATALYST, a Phase 3 study for the treatment of connective tissue disease associated pulmonary arterial hypertension. The FDA has granted orphan designation to bardoxolone for the treatment of Alport syndrome and the treatment of pulmonary arterial hypertension.
*About Reata Pharmaceuticals, Inc.*
Reata is a clinical-stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation. Reata’s two most advanced clinical candidates, bardoxolone and omaveloxolone, target the important transcription factor Nrf2 that promotes the resolution of inflammation by restoring mitochondrial function, reducing oxidative stress, and inhibiting pro-inflammatory signaling.
*Forward-Looking Statements*
This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding the success, cost and timing of our product development activities and clinical trials, our plans to research, develop and commercialize our product candidates, and our ability to obtain and retain regulatory approval of our product candidates. You can identify forward-looking statements because they contain words such as “believes,” “will,” “may,” “aims,” “plans,” and “expects.” Forward-looking statements are based on Reata’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, (i) the timing, costs, conduct, and outcome of our clinical trials and future preclinical studies and clinical trials, including the timing of the initiation and availability of data from such trials; (ii) the timing and likelihood of regulatory filings and approvals for our product candidates; (iii) the potential market size and the size of the patient populations for our product candidates, if approved for commercial use, and the market opportunities for our product candidates; and (iv) other factors set forth in Reata’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K, under the caption “Risk Factors.” The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
*Contact:*
Reata Pharmaceuticals, Inc.
(972) 865-2219
info@reatapharma.com
http://news.reatapharma.com
*Investor Relations:*
Vinny Jindal
Vice President, Strategy
(469) 374-8721
ir@reatapharma.com
*Media:*
Matt Middleman, M.D.
LifeSci Public Relations
(646) 627-8384
matt.middleman@lifescipublicrelations.com Reported by GlobeNewswire 2 hours ago.
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Texan objects to daughter, 12, drawing slave picture of self
A Texas parent has objected to a Civil War-related history assignment in which her 12-year-old daughter was told to draw a picture of herself as a slave.
Reported by FOXNews.com 2 hours ago.
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AcceleDent Wins Townie Choice Award for Third Consecutive Year
Houston, Feb. 12, 2018 (GLOBE NEWSWIRE) -- In an industry survey conducted by the magazine Orthotown and released today, orthodontists chose AcceleDent^® as their favorite accelerated orthodontic product because it “makes their lives easier, their practices more productive, and their staff and patients happier.” AcceleDent, an FDA-cleared vibratory orthodontic device, has won the coveted Townie Choice Award every year since the accelerated orthodontic category was added in 2015. Manufactured by the leader in accelerated orthodontics, OrthoAccel^® Technologies, Inc., AcceleDent employs a patented SoftPulse Technology^® that is clinically shown in randomized controlled trials to speed up orthodontic treatment by as much as 50 percent while reducing discomfort by up to 71 percent with clear aligners or braces.
“We are grateful that orthodontists continue to choose AcceleDent as their preferred accelerated orthodontic treatment solution and appreciate Orthotown for including this category in its annual survey,” said David Josza, OrthoAccel’s president and CEO. “The benefits of AcceleDent extend beyond accelerating orthodontic treatment as orthodontists report an overall better orthodontic experience with this noninvasive device that helps them achieve improved predictability and high quality clinical results.”
Several orthodontists have integrated AcceleDent into their standard treatment plan because the device’s low pulsatile forces increase mechanical efficiency of orthodontic treatment with traditional braces and clear aligner therapy. Many of these orthodontists report that when AcceleDent is used in conjunction with clear aligners it creates an optimal fit for the aligners around the teeth, helping the teeth track according to the predicted programmed movements.
In addition to these clinical benefits, 100 percent of patients surveyed in an independent study report that they are satisfied with their experience using AcceleDent and that it was easy to use. Patients use AcceleDent for 20 minutes daily by biting on the device’s mouthpiece that employs gentle vibrations to accelerate tooth movement and reduce discomfort.
Orthodontists are now offering patients AcceleDent Optima, OrthoAccel’s newest generation of vibratory orthodontic technology. Powered by the same SoftPulse Technology as its predecessors, AcceleDent Optima is the first and only orthodontic device that directly connects patients and practices through usage monitoring, direct messaging and virtual awards via the HIPAA-compliant AcceleDent App. This cloud connectivity enables orthodontists and their staff to connect with patients for more proactive case management. Patients who use the device and connect to the app can track their usage, set reminder notifications and compare their treatment progress to other AcceleDent Optima patients.
For more information, visit AcceleDent.com.
*About OrthoAccel^® Technologies, Inc.*
OrthoAccel^® Technologies, Inc. is a privately owned medical device company engaged in the creation, manufacturing, marketing and sales of innovative solutions that enhance dental care and orthodontic treatment. Among the company’s innovations is AcceleDent^® Optima™, an FDA-cleared, Class II medical device that employs patented SoftPulse Technology^® that produces gentle pulsating forces that are shown to speed up bone remodeling. These safe and gentle vibrations accelerate tooth movement by as much as 50 percent and reduce discomfort associated with orthodontic treatment by up to 71 percent. Leading orthodontists from around the world report increased mechanical efficiency with orthodontic appliances and improved predictability of outcomes with AcceleDent. OrthoAccel, the Leader in Accelerated Orthodontics, has been ranked on Deloitte’s Technology Fast 500 as one of the fastest growing companies in North America for three consecutive years. OrthoAccel is based in Houston, Texas and maintains a global presence through its EMEA office in Essen, Germany. To learn more about OrthoAccel’s focus on improving the journey to healthy, beautiful smiles, visit AcceleDent.com.
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f7c10ca2-6538-4522-9f44-564340ec67ba
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0c8a554d-94ca-45b7-a33c-230a1708a3e0
CONTACT: David Hood
OrthoAccel Technologies, Inc.
346-202-7334
dhood@orthoaccel.com Reported by GlobeNewswire 2 hours ago.
“We are grateful that orthodontists continue to choose AcceleDent as their preferred accelerated orthodontic treatment solution and appreciate Orthotown for including this category in its annual survey,” said David Josza, OrthoAccel’s president and CEO. “The benefits of AcceleDent extend beyond accelerating orthodontic treatment as orthodontists report an overall better orthodontic experience with this noninvasive device that helps them achieve improved predictability and high quality clinical results.”
Several orthodontists have integrated AcceleDent into their standard treatment plan because the device’s low pulsatile forces increase mechanical efficiency of orthodontic treatment with traditional braces and clear aligner therapy. Many of these orthodontists report that when AcceleDent is used in conjunction with clear aligners it creates an optimal fit for the aligners around the teeth, helping the teeth track according to the predicted programmed movements.
In addition to these clinical benefits, 100 percent of patients surveyed in an independent study report that they are satisfied with their experience using AcceleDent and that it was easy to use. Patients use AcceleDent for 20 minutes daily by biting on the device’s mouthpiece that employs gentle vibrations to accelerate tooth movement and reduce discomfort.
Orthodontists are now offering patients AcceleDent Optima, OrthoAccel’s newest generation of vibratory orthodontic technology. Powered by the same SoftPulse Technology as its predecessors, AcceleDent Optima is the first and only orthodontic device that directly connects patients and practices through usage monitoring, direct messaging and virtual awards via the HIPAA-compliant AcceleDent App. This cloud connectivity enables orthodontists and their staff to connect with patients for more proactive case management. Patients who use the device and connect to the app can track their usage, set reminder notifications and compare their treatment progress to other AcceleDent Optima patients.
For more information, visit AcceleDent.com.
*About OrthoAccel^® Technologies, Inc.*
OrthoAccel^® Technologies, Inc. is a privately owned medical device company engaged in the creation, manufacturing, marketing and sales of innovative solutions that enhance dental care and orthodontic treatment. Among the company’s innovations is AcceleDent^® Optima™, an FDA-cleared, Class II medical device that employs patented SoftPulse Technology^® that produces gentle pulsating forces that are shown to speed up bone remodeling. These safe and gentle vibrations accelerate tooth movement by as much as 50 percent and reduce discomfort associated with orthodontic treatment by up to 71 percent. Leading orthodontists from around the world report increased mechanical efficiency with orthodontic appliances and improved predictability of outcomes with AcceleDent. OrthoAccel, the Leader in Accelerated Orthodontics, has been ranked on Deloitte’s Technology Fast 500 as one of the fastest growing companies in North America for three consecutive years. OrthoAccel is based in Houston, Texas and maintains a global presence through its EMEA office in Essen, Germany. To learn more about OrthoAccel’s focus on improving the journey to healthy, beautiful smiles, visit AcceleDent.com.
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f7c10ca2-6538-4522-9f44-564340ec67ba
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0c8a554d-94ca-45b7-a33c-230a1708a3e0
CONTACT: David Hood
OrthoAccel Technologies, Inc.
346-202-7334
dhood@orthoaccel.com Reported by GlobeNewswire 2 hours ago.
↧
Addiction in the Classroom: High Rates of Substance Use Among Teachers
Nationally Recognized Addiction Expert, Dr. Indra Cidambi, Explores Drug and Alcohol Abuse in the Education Community and Why Teachers Often Delay Treatment
NEW YORK (PRWEB) February 12, 2018
Parents place their faith in the education system for not only education but also for care and development of their children. With teachers spending the majority of the day with kids, the role of teachers in shaping America’s children is extremely important. But drug and alcohol abuse can still affect those teaching our children. Educators are not immune from experiencing stressors or mental and physical illnesses. According to nationally recognized addiction expert and Medical Director of Center for Network Therapy, Dr. Indra Cidambi, the difference for teachers is that their status in society makes it difficult for them to seek treatment for certain illnesses as openly as others. “In my experience, teachers suffer from substance use disorders only at slightly lower rates than the general population, which hovers around 10%, and enter treatment late in the addiction cycle,” said Dr. Cidambi.
A 1990 study by the Journal of Drug Education surveyed 500 teachers in Texas and discovered higher rates of abuse of alcohol, amphetamines, and tranquilizers as compared to the national average. Amphetamine use in particular correlated with higher stress levels, as it assisted teachers in staying sharp and focused by providing an energy boost. Teachers in America are given responsibilities without the authority to make important decisions, paperwork can be overwhelming, and teaching standards are a political football, leaving teachers feeling overworked, underpaid and burnt out.
Not surprisingly, teachers feel stressed. According to a Penn State University report, 46% of teachers reported high levels of stress. “It’s not surprising some teachers turn to drugs or alcohol to relax or obtain relief from stress,” said Dr. Cidambi. “When teachers are stressed and burnt out, it affects their students. Research (1) shows that students of ‘burnt out’ teachers had elevated levels of cortisol, which has been associated with learning difficulties as well as mental health problems,” added Dr. Cidambi.
“Teachers, given their status as mentors and role models, find it hard to admit any ‘moral’ weakness, making it difficult for them to seek treatment for substance abuse during the early stages of their addiction,” said Dr. Cidambi. Many teachers also do not fully realize that addiction is a chronic disease that calls for treatment. “I have also found teachers hesitate to navigate the Employee Assistant Program (EAP) rules if they are seeking time off in order to receive treatment for substance use disorders. They are unsure if they would be accepted back as teachers after they complete treatment successfully.”
Treating Teachers for Substance Use Disorders Has Its Challenges:
Teachers are usually in control of their environment and they have difficulty accepting the role of a patient, where they have to give up control. “Treatment providers need to be sensitive to this issue and work with teachers closely to earn their trust, as they sometimes battle with the fact that they are not in control,” said Dr. Cidambi. Teachers in treatment usually have some guilt associated with ‘abandoning their students’ in the middle of an academic year. “Care providers have to emphasize to them that they need to make the most of the ‘me time,’ so they can start their teaching career again,” added Dr. Cidambi.
Teachers across the board are worried about the path back to their job after treatment. “In order to effectively address this, I have found that having the employer, the patient and the care giver agree to a treatment plan and/or protocol is helpful. The employer knows what to expect from treatment and they can set concrete objectives for the teacher to meet in order to regain their job,” said Dr. Cidambi. Having this contract in place not only lowers stress levels for the patient, it also incentivizes them to participate fully in treatment.
“In my experience, treatment works best for teachers when it is provided close to home, enabling the integration of the home environment into treatment. Elevating the support they receive at home by bringing the family into treatment helps prevent relapses,” said Dr. Cidambi. “Shipping teachers to far away locations for treatment does not usually work over the longer-term, as the patients are in an ivory tower that has no resemblance or connection to their living environment,” added Dr. Cidambi. “Also, the teacher’s employer or EAP has no clue about the quality of treatment provided in remote locations. Recently, the New Jersey Education Association (NJEA) acknowledged as much, when they contracted with a behavioral health organization to find high quality, local referral services for their members after many of their members had a nightmarish treatment experience at a treatment facility located in a different state,” said Dr. Cidambi.
(1) University of British Columbia 2016 study.
For more information on substance abuse dependency, addiction and treatment please go to http://www.RecoveryCNT.com.
About Dr. Indra Cidambi
Indra Cidambi, M.D., Medical Director, Center for Network Therapy, is recognized as a leading expert and pioneer in the field of Addiction Medicine. Under her leadership the Center for Network Therapy started New Jersey’s first state licensed Ambulatory (Outpatient) Detoxification program for all substances nearly three years ago. Dr. Cidambi is Board Certified in General Psychiatry and double Board Certified in Addiction Medicine (ABAM, ABPN). She is the Vice President of the New Jersey Society of Addiction Medicine. She is fluent in five languages, including Russian.
About Center for Network Therapy
Center for Network Therapy (CNT) was the first facility in New Jersey to be licensed to provide Ambulatory (Outpatient) Detoxification Services for all substances of abuse – alcohol, anesthetics, benzodiazepines, opiates and other substances of abuse. Led by a Board Certified Addiction Psychiatrist, Indra Cidambi, M.D., experienced physicians and nurses closely monitor each patient’s progress. With CNT’s superior client care and high quality treatment, Dr. Cidambi and her clinical team have successfully detoxed roughly 1500 patients in five years. CNT also offers Partial Care and IOP programs. Reported by PRWeb 2 hours ago.
NEW YORK (PRWEB) February 12, 2018
Parents place their faith in the education system for not only education but also for care and development of their children. With teachers spending the majority of the day with kids, the role of teachers in shaping America’s children is extremely important. But drug and alcohol abuse can still affect those teaching our children. Educators are not immune from experiencing stressors or mental and physical illnesses. According to nationally recognized addiction expert and Medical Director of Center for Network Therapy, Dr. Indra Cidambi, the difference for teachers is that their status in society makes it difficult for them to seek treatment for certain illnesses as openly as others. “In my experience, teachers suffer from substance use disorders only at slightly lower rates than the general population, which hovers around 10%, and enter treatment late in the addiction cycle,” said Dr. Cidambi.
A 1990 study by the Journal of Drug Education surveyed 500 teachers in Texas and discovered higher rates of abuse of alcohol, amphetamines, and tranquilizers as compared to the national average. Amphetamine use in particular correlated with higher stress levels, as it assisted teachers in staying sharp and focused by providing an energy boost. Teachers in America are given responsibilities without the authority to make important decisions, paperwork can be overwhelming, and teaching standards are a political football, leaving teachers feeling overworked, underpaid and burnt out.
Not surprisingly, teachers feel stressed. According to a Penn State University report, 46% of teachers reported high levels of stress. “It’s not surprising some teachers turn to drugs or alcohol to relax or obtain relief from stress,” said Dr. Cidambi. “When teachers are stressed and burnt out, it affects their students. Research (1) shows that students of ‘burnt out’ teachers had elevated levels of cortisol, which has been associated with learning difficulties as well as mental health problems,” added Dr. Cidambi.
“Teachers, given their status as mentors and role models, find it hard to admit any ‘moral’ weakness, making it difficult for them to seek treatment for substance abuse during the early stages of their addiction,” said Dr. Cidambi. Many teachers also do not fully realize that addiction is a chronic disease that calls for treatment. “I have also found teachers hesitate to navigate the Employee Assistant Program (EAP) rules if they are seeking time off in order to receive treatment for substance use disorders. They are unsure if they would be accepted back as teachers after they complete treatment successfully.”
Treating Teachers for Substance Use Disorders Has Its Challenges:
Teachers are usually in control of their environment and they have difficulty accepting the role of a patient, where they have to give up control. “Treatment providers need to be sensitive to this issue and work with teachers closely to earn their trust, as they sometimes battle with the fact that they are not in control,” said Dr. Cidambi. Teachers in treatment usually have some guilt associated with ‘abandoning their students’ in the middle of an academic year. “Care providers have to emphasize to them that they need to make the most of the ‘me time,’ so they can start their teaching career again,” added Dr. Cidambi.
Teachers across the board are worried about the path back to their job after treatment. “In order to effectively address this, I have found that having the employer, the patient and the care giver agree to a treatment plan and/or protocol is helpful. The employer knows what to expect from treatment and they can set concrete objectives for the teacher to meet in order to regain their job,” said Dr. Cidambi. Having this contract in place not only lowers stress levels for the patient, it also incentivizes them to participate fully in treatment.
“In my experience, treatment works best for teachers when it is provided close to home, enabling the integration of the home environment into treatment. Elevating the support they receive at home by bringing the family into treatment helps prevent relapses,” said Dr. Cidambi. “Shipping teachers to far away locations for treatment does not usually work over the longer-term, as the patients are in an ivory tower that has no resemblance or connection to their living environment,” added Dr. Cidambi. “Also, the teacher’s employer or EAP has no clue about the quality of treatment provided in remote locations. Recently, the New Jersey Education Association (NJEA) acknowledged as much, when they contracted with a behavioral health organization to find high quality, local referral services for their members after many of their members had a nightmarish treatment experience at a treatment facility located in a different state,” said Dr. Cidambi.
(1) University of British Columbia 2016 study.
For more information on substance abuse dependency, addiction and treatment please go to http://www.RecoveryCNT.com.
About Dr. Indra Cidambi
Indra Cidambi, M.D., Medical Director, Center for Network Therapy, is recognized as a leading expert and pioneer in the field of Addiction Medicine. Under her leadership the Center for Network Therapy started New Jersey’s first state licensed Ambulatory (Outpatient) Detoxification program for all substances nearly three years ago. Dr. Cidambi is Board Certified in General Psychiatry and double Board Certified in Addiction Medicine (ABAM, ABPN). She is the Vice President of the New Jersey Society of Addiction Medicine. She is fluent in five languages, including Russian.
About Center for Network Therapy
Center for Network Therapy (CNT) was the first facility in New Jersey to be licensed to provide Ambulatory (Outpatient) Detoxification Services for all substances of abuse – alcohol, anesthetics, benzodiazepines, opiates and other substances of abuse. Led by a Board Certified Addiction Psychiatrist, Indra Cidambi, M.D., experienced physicians and nurses closely monitor each patient’s progress. With CNT’s superior client care and high quality treatment, Dr. Cidambi and her clinical team have successfully detoxed roughly 1500 patients in five years. CNT also offers Partial Care and IOP programs. Reported by PRWeb 2 hours ago.
↧
Denbury Provides Operational Update and Results of Successful Mission Canyon Exploitation Well, 2018 Capital and Estimated Production
PLANO, Texas, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (NYSE:DNR) (“Denbury” or the “Company”) today announced its preliminary year-end 2017 proved reserves, production and capital expenditures, the initial results of its successful first Mission Canyon exploitation well in the Cedar Creek Anticline, and its 2018 capital budget and estimated annual production.*HIGHLIGHTS*
2017 preliminary production, capital expenditures, and proved reserves
· Q4 2017 production – 61,144 barrels of oil equivalent per day (“BOE/d”), 97% oil
· FY 2017 production – 60,298 BOE/d, 97% oil
· 2017 development capital – $241 million, below capital budget of $250 million
· 2017 proved reserves – 260 million barrels of oil equivalent (“MMBOE”), representing a 127% replacement of 2017 annual production
· Year-end 2017 preliminary PV-10 Value^(1) – $2.5 billion, up from $1.5 billion at year-end 2016
Mission Canyon exploitation well
· Successful first Mission Canyon well opens additional development in Cedar Creek Anticline
· 30-day initial production rate of 1,050 barrels of oil per day (“Bbls/d”)
· Plans to drill 6 additional wells in 2018
2018 capital budget and production
· 2018 development capital budget – $300 million to $325 million, fully funded from currently expected operating cash flows
· Estimated production range – 60,000 to 64,000 BOE/d, 3% above preliminary 2017 production at the midpoint
(1) A non-GAAP measure. See accompanying schedules that reconcile GAAP to non-GAAP measures along with a statement indicating why the Company believes the non-GAAP measures provide useful information for investors.
*MANAGEMENT* *COMMENT*
Chris Kendall, Denbury’s President and CEO commented, “Our 2017 accomplishments improved the full spectrum of our business, positively positioning us heading into 2018. We returned to production growth in the 3rd quarter and are set to continue that growth in 2018. We strengthened our core, replacing 127% of our 2017 production. We significantly lowered our cost structure and streamlined our organization, providing greater upside to an improving oil market. Operational execution was strong, delivering high-return projects on time and on budget, increasing field reliability, and optimizing costs. Capital allocation was highly disciplined, with our final spend nearly 4% below guidance. Capping off the year, Mission Canyon, a significant new exploitation test, was a resounding success, with a 100% oil, 1,050 barrels of oil per day initial 30-day average rate on a $3.6 million investment. This result highlights the short cycle, high value organic growth potential in our broad asset base, and opens the door for multiple follow-on wells across the area.
“As we look to 2018, we will continue to execute on our valuable project portfolio, focused on delivering long-term sustainability and growth. We will maintain capital discipline, spending within cash flow while targeting production growth in the range of 3% from 2017 levels. We plan to accelerate investment in our growing exploitation portfolio, including multiple additional wells at Mission Canyon and promising new tests in both operating regions. We are excited to have our two newest CO[2] floods starting up at West Yellow Creek and Grieve, and are highly focused on bringing initial EOR development at Cedar Creek Anticline to an investment decision in the first half of the year. I believe 2018 will be a transformative year for Denbury.”
*EXPLOITATION UPDATE*
Denbury’s first Mission Canyon exploitation well was drilled during the fourth quarter in the Pennel Field in the Cedar Creek Anticline. The well was drilled to a true vertical depth of 7,200’, with a 4,800’ lateral section geosteered in a 4’ target at the top of the Mission Canyon carbonate formation. Reservoir quality and rock mechanics permitted an open-hole, non-stimulated completion, and the well began production through an electric submersible pump on December 30, 2017. Average production over the initial 30-day production period was 1,050 Bbls/d of oil, exceeding initial productivity expectations. The total cost to drill and complete the well was $3.6 million.
The success of the initial well de-risks additional locations, and the Company mobilized a rig in early February to begin drilling on a two-well pad, with first production from this pad expected in the second quarter. A total of six additional Mission Canyon wells are planned for 2018, including four development wells and two wells designed to test other Mission Canyon opportunities. The program is expected to continue beyond 2018 as the Company fully develops the play.
*PRELIMINARY 2017 FOURTH QUARTER AND ANNUAL PRODUCTION*
Denbury’s production averaged 61,144 BOE/d during the fourth quarter of 2017, in line with expectations, and was 97% oil, with CO[2] tertiary properties accounting for 65% of overall production. On a sequential-quarter basis, production in the fourth quarter of 2017 increased by 1% from the third quarter of 2017.
Denbury’s continuing production for full-year 2017 averaged 60,298 BOE/d, down 4% from the prior-year’s level when excluding properties sold in 2016. Approximately 1% of the decline was attributable to weather-related shut-in production from Hurricane Harvey. Further production information is provided on page 8 of this press release.
*PRELIMINARY 2017 CAPITAL EXPENDITURES*
Denbury’s 2017 development capital expenditures totaled $241 million, nearly 4% below the $250 million budget amount. Total capital expenditures for 2017 also included property acquisition costs of $89 million and capitalized interest of $31 million.
A breakdown of preliminary estimated 2017 capital expenditures is shown in the following table:
In millions 2017
Preliminary
Capital
Expenditures^(1)
Capital expenditures by project
Tertiary oil fields $ 129
Non-tertiary fields 54
Capitalized internal costs^(2) 53
Oil and natural gas capital expenditures 236
CO[2] pipelines, sources and other 5
*Capital expenditures, before acquisitions and capitalized interest* 241
Acquisitions of oil and natural gas properties 89
*Capital expenditures, before capitalized interest* 330
Capitalized interest 31
*Capital expenditures, total* $ 361
1. Capital expenditure amounts include accrued capital.
2. Includes capitalized internal acquisition, exploration and development costs and pre-production tertiary startup costs.
*2017 PROVED RESERVES*
The Company’s total estimated proved oil and natural gas reserves at December 31, 2017 were 260 MMBOE, consisting of 253 million barrels of crude oil, condensate and natural gas liquids (together, “liquids”), and 43 billion cubic feet (7 MMBOE) of natural gas. Reserves were 97% liquids and 88% proved developed, with 59% of total proved reserves attributable to Denbury’s CO[2] tertiary operations. Total proved reserves increased by 28 MMBOE on a gross basis, a net 6 MMBOE increase after 2017 production, representing a 127% replacement of 2017 production. The increase was primarily due to 15 MMBOE of positive revisions of previous estimates associated with changes in commodity prices, operating costs and performance, and 11 MMBOE due to properties acquired during the year.
Oil
(MMBbl) Gas
(Bcf) MMBOE
PV-10^(1)
Balance at December 31, 2016 247 44 254 $1.5 billion
Revisions of previous estimates 14 3 15
Improved recovery 2 — 2
2017 production (21 ) (4 ) (22 )
Acquisition of minerals or other revisions 11 — 11
*Balance at December 31, 2017* *253* *43* *260* *$2.5 billion*Year-end 2017 estimated proved reserves and the discounted net present value of Denbury’s proved reserves, using a 10% per annum discount rate (“PV-10 Value”)^(1) (a non-GAAP measure), were computed using first-day-of-the-month 12-month average prices of $51.34 per Bbl for oil (based on NYMEX prices) and $2.98 per million British thermal unit (“MMBtu”) for natural gas (based on Henry Hub cash prices), adjusted for prices received at the field. Comparative prices for 2016 were $42.75 per Bbl of oil and $2.55 per MMBtu for natural gas, adjusted for prices received at the field. The preliminary standardized measure of discounted estimated future net cash flows after income taxes of Denbury’s proved reserves at December 31, 2017 (“Standardized Measure”) was $2.2 billion compared to $1.4 billion at December 31, 2016. PV-10 Value^(1) was $2.5 billion at December 31, 2017, compared to $1.5 billion at December 31, 2016, which represents a 64% year-over-year increase. See the accompanying schedules for an explanation of the difference between PV-10 Value^(1) and the preliminary Standardized Measure and the uses of this information.
(1) A non-GAAP measure. See accompanying schedules that reconcile GAAP to non-GAAP measures along with a statement indicating why the Company believes the non-GAAP measures provide useful information for investors.
Denbury’s estimated proved CO[2] reserves at year-end 2017, on a gross or 8/8th’s basis for operated fields, together with its overriding royalty interest in LaBarge Field in Wyoming, totaled 6.4 trillion cubic feet (“Tcf”), slightly lower than CO[2] reserves of 6.5 Tcf as of December 31, 2016. Of these total CO[2] reserves, 5.2 Tcf are located in the Gulf Coast region and 1.2 Tcf in the Rocky Mountain region. In addition to these proved CO[2] reserves, Denbury is currently purchasing CO[2] from two industrial facilities in the Gulf Coast region and a gas processing facility in the Rocky Mountain region, all under long-term contractual agreements. Although there are no proved CO[2] reserves associated with these long-term agreements, they currently supply over 90 million cubic feet per day, or roughly 15% of the CO[2] Denbury is using for its tertiary operations.
*2018 CAPITAL BUDGET AND PRODUCTION ESTIMATES*
Denbury’s 2018 capital budget, excluding acquisitions and capitalized interest, is between $300 million and $325 million, roughly 30% above the Company’s 2017 capital spending levels. The budget provides for approximate spending as follows:
· $155 million for tertiary oil field expenditures;
· $95 million for other areas, primarily non-tertiary oil field expenditures including exploitation projects;
· $20 million for CO[2] sources and pipelines; and
· $45 million for other capital items such as capitalized internal acquisition, exploration and development costs and pre-production tertiary startup costs.
In addition, capitalized interest for 2018 is estimated at approximately $30 million. At this spending level, the Company anticipates 2018 production of between 60,000 and 64,000 BOE/d, an increase of 3% at the mid-point over the Company’s preliminary 2017 average production rate.
*CONFERENCE PRESENTATION*
Chris Kendall, President and CEO, and Mark Allen, Executive Vice President and CFO, will be attending the 23rd Annual Credit Suisse Energy Summit and delivering a Company presentation on Tuesday, February 13, 2018 at 10:55 A.M. Mountain Time. An updated corporate presentation for the conference will be posted to the Company’s website on the evening of Monday, February 12, 2018 and a link to the live webcast of the presentation will be available in the investor relations section of the Company’s website at www.denbury.com.
Denbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. The Company’s goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to CO[2] enhanced oil recovery operations. For more information about Denbury, please visit www.denbury.com.
In this press release, Denbury provides estimated year-end 2017 proved reserves information, preliminary production and capital expenditures information for its fiscal year 2017 and preliminary exploitation well production results. Denbury has prepared the summary preliminary data in this release based on the most current information available to management. Denbury’s normal closing and financial reporting processes with respect to the preliminary data herein have not been fully completed and, as a result, its actual results could be different from this summary preliminary information presented herein, and any such differences could be material.
This press release, other than historical financial information, contains forward-looking statements that involve risks and uncertainties including the preliminary information referenced above, estimated 2018 production and capital expenditures, estimated cash generated from operations in 2018, and other risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission, including Denbury’s most recent report on Form 10-K. These risks and uncertainties are incorporated by this reference as though fully set forth herein. These statements are based on engineering, geological, financial and operating assumptions that management believes are reasonable based on currently available information; however, management’s assumptions and the Company’s future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially. In addition, any forward-looking statements represent the Company’s estimates only as of today and should not be relied upon as representing its estimates as of any future date. Denbury assumes no obligation to update its forward-looking statements.
*DENBURY RESOURCES INC.*
*SUPPLEMENTAL NON-GAAP FINANCIAL MEASURE (UNAUDITED)*
Reconciliation of the preliminary standardized measure of discounted estimated future net cash flows after income taxes (GAAP measure) to PV-10 Value (non-GAAP measure)
PV-10 Value is a non-GAAP measure and is different from the preliminary Standardized Measure in that PV-10 Value is a pre-tax number and the Standardized Measure is an after-tax number. Denbury’s 2017 and 2016 year-end estimated proved oil and natural gas reserves and proved CO[2] reserves quantities were prepared by the independent reservoir engineering firm of DeGolyer and MacNaughton. The information used to calculate PV-10 Value is derived directly from data determined in accordance with FASC Topic 932. Management believes PV-10 Value is a useful supplemental disclosure to the Standardized Measure because the Standardized Measure can be impacted by a company’s unique tax situation, and it is not practical to calculate the Standardized Measure on a property-by-property basis. Because of this, PV-10 Value is a widely used measure within the industry and is commonly used by securities analysts, banks and credit rating agencies to evaluate the estimated future net cash flows from proved reserves on a comparative basis across companies or specific properties. PV-10 Value is commonly used by management and others in the industry to evaluate properties that are bought and sold, to assess the potential return on investment in the Company’s oil and natural gas properties, and to perform impairment testing of oil and natural gas properties. PV-10 Value is not a measure of financial or operating performance under GAAP, nor should it be considered in isolation or as a substitute for the Standardized Measure. PV-10 Value and the preliminary Standardized Measure do not purport to represent the fair value of the Company’s oil and natural gas reserves.
December 31,
In thousands 2017 2016
Preliminary Standardized Measure (GAAP measure) $ 2,232,429 $ 1,399,217
Discounted estimated future income tax 301,369 142,467
PV-10 Value (non-GAAP measure) $ 2,533,798 $ 1,541,684
*
DENBURY RESOURCES INC.*
*PRODUCTION HIGHLIGHTS (UNAUDITED)*
Quarter Ended Year Ended
December 31, Sept. 30, December 31,
*Average Daily Volumes (BOE/d) (6:1)* 2017 2016 2017 2017 2016
*Tertiary oil production*
*Gulf Coast region*
Mature properties^(1) 7,232 8,440 7,450 7,629 9,040
Delhi 4,906 4,387 4,619 4,869 4,155
Hastings 5,747 4,552 4,867 4,830 4,829
Heidelberg 4,751 4,924 4,927 4,851 5,128
Oyster Bayou 4,868 4,988 4,870 5,007 5,083
Tinsley 6,241 6,786 6,506 6,430 7,192
Total Gulf Coast region 33,745 34,077 33,239 33,616 35,427
*Rocky Mountain region*
Bell Creek 3,571 3,269 3,406 3,313 3,121
Salt Creek 2,172 — 2,228 1,115 —
Total Rocky Mountain region 5,743 3,269 5,634 4,428 3,121
Total tertiary oil production 39,488 37,346 38,873 38,044 38,548
*Non-tertiary oil and gas production*
*Gulf Coast region*
Mississippi 721 745 867 981 850
Texas 4,617 5,143 4,024 4,493 4,906
Other 483 569 515 489 528
Total Gulf Coast region 5,821 6,457 5,406 5,963 6,284
*Rocky Mountain region*
Cedar Creek Anticline 14,302 15,186 14,535 14,754 16,322
Other 1,533 1,696 1,514 1,537 1,844
Total Rocky Mountain region 15,835 16,882 16,049 16,291 18,166
Total non-tertiary production 21,656 23,339 21,455 22,254 24,450
*Total continuing production* 61,144 60,685 60,328 60,298 62,998
*Property sales*
Property divestitures^(2) — — — — 1,005
*Total production* 61,144 60,685 60,328 60,298 64,003
1. Mature properties include Brookhaven, Cranfield, Eucutta, Little Creek, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields.
2. Includes non-tertiary production in the Rocky Mountain region related to the sale of remaining non-core assets in the Williston Basin of North Dakota and Montana, which closed in the third quarter of 2016.
CONTACT: DENBURY CONTACTS:
Mark C. Allen, Executive Vice President and Chief Financial Officer, 972.673.2000
John Mayer, Director of Investor Relations, 972.673.2383 Reported by GlobeNewswire 1 hour ago.
2017 preliminary production, capital expenditures, and proved reserves
· Q4 2017 production – 61,144 barrels of oil equivalent per day (“BOE/d”), 97% oil
· FY 2017 production – 60,298 BOE/d, 97% oil
· 2017 development capital – $241 million, below capital budget of $250 million
· 2017 proved reserves – 260 million barrels of oil equivalent (“MMBOE”), representing a 127% replacement of 2017 annual production
· Year-end 2017 preliminary PV-10 Value^(1) – $2.5 billion, up from $1.5 billion at year-end 2016
Mission Canyon exploitation well
· Successful first Mission Canyon well opens additional development in Cedar Creek Anticline
· 30-day initial production rate of 1,050 barrels of oil per day (“Bbls/d”)
· Plans to drill 6 additional wells in 2018
2018 capital budget and production
· 2018 development capital budget – $300 million to $325 million, fully funded from currently expected operating cash flows
· Estimated production range – 60,000 to 64,000 BOE/d, 3% above preliminary 2017 production at the midpoint
(1) A non-GAAP measure. See accompanying schedules that reconcile GAAP to non-GAAP measures along with a statement indicating why the Company believes the non-GAAP measures provide useful information for investors.
*MANAGEMENT* *COMMENT*
Chris Kendall, Denbury’s President and CEO commented, “Our 2017 accomplishments improved the full spectrum of our business, positively positioning us heading into 2018. We returned to production growth in the 3rd quarter and are set to continue that growth in 2018. We strengthened our core, replacing 127% of our 2017 production. We significantly lowered our cost structure and streamlined our organization, providing greater upside to an improving oil market. Operational execution was strong, delivering high-return projects on time and on budget, increasing field reliability, and optimizing costs. Capital allocation was highly disciplined, with our final spend nearly 4% below guidance. Capping off the year, Mission Canyon, a significant new exploitation test, was a resounding success, with a 100% oil, 1,050 barrels of oil per day initial 30-day average rate on a $3.6 million investment. This result highlights the short cycle, high value organic growth potential in our broad asset base, and opens the door for multiple follow-on wells across the area.
“As we look to 2018, we will continue to execute on our valuable project portfolio, focused on delivering long-term sustainability and growth. We will maintain capital discipline, spending within cash flow while targeting production growth in the range of 3% from 2017 levels. We plan to accelerate investment in our growing exploitation portfolio, including multiple additional wells at Mission Canyon and promising new tests in both operating regions. We are excited to have our two newest CO[2] floods starting up at West Yellow Creek and Grieve, and are highly focused on bringing initial EOR development at Cedar Creek Anticline to an investment decision in the first half of the year. I believe 2018 will be a transformative year for Denbury.”
*EXPLOITATION UPDATE*
Denbury’s first Mission Canyon exploitation well was drilled during the fourth quarter in the Pennel Field in the Cedar Creek Anticline. The well was drilled to a true vertical depth of 7,200’, with a 4,800’ lateral section geosteered in a 4’ target at the top of the Mission Canyon carbonate formation. Reservoir quality and rock mechanics permitted an open-hole, non-stimulated completion, and the well began production through an electric submersible pump on December 30, 2017. Average production over the initial 30-day production period was 1,050 Bbls/d of oil, exceeding initial productivity expectations. The total cost to drill and complete the well was $3.6 million.
The success of the initial well de-risks additional locations, and the Company mobilized a rig in early February to begin drilling on a two-well pad, with first production from this pad expected in the second quarter. A total of six additional Mission Canyon wells are planned for 2018, including four development wells and two wells designed to test other Mission Canyon opportunities. The program is expected to continue beyond 2018 as the Company fully develops the play.
*PRELIMINARY 2017 FOURTH QUARTER AND ANNUAL PRODUCTION*
Denbury’s production averaged 61,144 BOE/d during the fourth quarter of 2017, in line with expectations, and was 97% oil, with CO[2] tertiary properties accounting for 65% of overall production. On a sequential-quarter basis, production in the fourth quarter of 2017 increased by 1% from the third quarter of 2017.
Denbury’s continuing production for full-year 2017 averaged 60,298 BOE/d, down 4% from the prior-year’s level when excluding properties sold in 2016. Approximately 1% of the decline was attributable to weather-related shut-in production from Hurricane Harvey. Further production information is provided on page 8 of this press release.
*PRELIMINARY 2017 CAPITAL EXPENDITURES*
Denbury’s 2017 development capital expenditures totaled $241 million, nearly 4% below the $250 million budget amount. Total capital expenditures for 2017 also included property acquisition costs of $89 million and capitalized interest of $31 million.
A breakdown of preliminary estimated 2017 capital expenditures is shown in the following table:
In millions 2017
Preliminary
Capital
Expenditures^(1)
Capital expenditures by project
Tertiary oil fields $ 129
Non-tertiary fields 54
Capitalized internal costs^(2) 53
Oil and natural gas capital expenditures 236
CO[2] pipelines, sources and other 5
*Capital expenditures, before acquisitions and capitalized interest* 241
Acquisitions of oil and natural gas properties 89
*Capital expenditures, before capitalized interest* 330
Capitalized interest 31
*Capital expenditures, total* $ 361
1. Capital expenditure amounts include accrued capital.
2. Includes capitalized internal acquisition, exploration and development costs and pre-production tertiary startup costs.
*2017 PROVED RESERVES*
The Company’s total estimated proved oil and natural gas reserves at December 31, 2017 were 260 MMBOE, consisting of 253 million barrels of crude oil, condensate and natural gas liquids (together, “liquids”), and 43 billion cubic feet (7 MMBOE) of natural gas. Reserves were 97% liquids and 88% proved developed, with 59% of total proved reserves attributable to Denbury’s CO[2] tertiary operations. Total proved reserves increased by 28 MMBOE on a gross basis, a net 6 MMBOE increase after 2017 production, representing a 127% replacement of 2017 production. The increase was primarily due to 15 MMBOE of positive revisions of previous estimates associated with changes in commodity prices, operating costs and performance, and 11 MMBOE due to properties acquired during the year.
Oil
(MMBbl) Gas
(Bcf) MMBOE
PV-10^(1)
Balance at December 31, 2016 247 44 254 $1.5 billion
Revisions of previous estimates 14 3 15
Improved recovery 2 — 2
2017 production (21 ) (4 ) (22 )
Acquisition of minerals or other revisions 11 — 11
*Balance at December 31, 2017* *253* *43* *260* *$2.5 billion*Year-end 2017 estimated proved reserves and the discounted net present value of Denbury’s proved reserves, using a 10% per annum discount rate (“PV-10 Value”)^(1) (a non-GAAP measure), were computed using first-day-of-the-month 12-month average prices of $51.34 per Bbl for oil (based on NYMEX prices) and $2.98 per million British thermal unit (“MMBtu”) for natural gas (based on Henry Hub cash prices), adjusted for prices received at the field. Comparative prices for 2016 were $42.75 per Bbl of oil and $2.55 per MMBtu for natural gas, adjusted for prices received at the field. The preliminary standardized measure of discounted estimated future net cash flows after income taxes of Denbury’s proved reserves at December 31, 2017 (“Standardized Measure”) was $2.2 billion compared to $1.4 billion at December 31, 2016. PV-10 Value^(1) was $2.5 billion at December 31, 2017, compared to $1.5 billion at December 31, 2016, which represents a 64% year-over-year increase. See the accompanying schedules for an explanation of the difference between PV-10 Value^(1) and the preliminary Standardized Measure and the uses of this information.
(1) A non-GAAP measure. See accompanying schedules that reconcile GAAP to non-GAAP measures along with a statement indicating why the Company believes the non-GAAP measures provide useful information for investors.
Denbury’s estimated proved CO[2] reserves at year-end 2017, on a gross or 8/8th’s basis for operated fields, together with its overriding royalty interest in LaBarge Field in Wyoming, totaled 6.4 trillion cubic feet (“Tcf”), slightly lower than CO[2] reserves of 6.5 Tcf as of December 31, 2016. Of these total CO[2] reserves, 5.2 Tcf are located in the Gulf Coast region and 1.2 Tcf in the Rocky Mountain region. In addition to these proved CO[2] reserves, Denbury is currently purchasing CO[2] from two industrial facilities in the Gulf Coast region and a gas processing facility in the Rocky Mountain region, all under long-term contractual agreements. Although there are no proved CO[2] reserves associated with these long-term agreements, they currently supply over 90 million cubic feet per day, or roughly 15% of the CO[2] Denbury is using for its tertiary operations.
*2018 CAPITAL BUDGET AND PRODUCTION ESTIMATES*
Denbury’s 2018 capital budget, excluding acquisitions and capitalized interest, is between $300 million and $325 million, roughly 30% above the Company’s 2017 capital spending levels. The budget provides for approximate spending as follows:
· $155 million for tertiary oil field expenditures;
· $95 million for other areas, primarily non-tertiary oil field expenditures including exploitation projects;
· $20 million for CO[2] sources and pipelines; and
· $45 million for other capital items such as capitalized internal acquisition, exploration and development costs and pre-production tertiary startup costs.
In addition, capitalized interest for 2018 is estimated at approximately $30 million. At this spending level, the Company anticipates 2018 production of between 60,000 and 64,000 BOE/d, an increase of 3% at the mid-point over the Company’s preliminary 2017 average production rate.
*CONFERENCE PRESENTATION*
Chris Kendall, President and CEO, and Mark Allen, Executive Vice President and CFO, will be attending the 23rd Annual Credit Suisse Energy Summit and delivering a Company presentation on Tuesday, February 13, 2018 at 10:55 A.M. Mountain Time. An updated corporate presentation for the conference will be posted to the Company’s website on the evening of Monday, February 12, 2018 and a link to the live webcast of the presentation will be available in the investor relations section of the Company’s website at www.denbury.com.
Denbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. The Company’s goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to CO[2] enhanced oil recovery operations. For more information about Denbury, please visit www.denbury.com.
In this press release, Denbury provides estimated year-end 2017 proved reserves information, preliminary production and capital expenditures information for its fiscal year 2017 and preliminary exploitation well production results. Denbury has prepared the summary preliminary data in this release based on the most current information available to management. Denbury’s normal closing and financial reporting processes with respect to the preliminary data herein have not been fully completed and, as a result, its actual results could be different from this summary preliminary information presented herein, and any such differences could be material.
This press release, other than historical financial information, contains forward-looking statements that involve risks and uncertainties including the preliminary information referenced above, estimated 2018 production and capital expenditures, estimated cash generated from operations in 2018, and other risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission, including Denbury’s most recent report on Form 10-K. These risks and uncertainties are incorporated by this reference as though fully set forth herein. These statements are based on engineering, geological, financial and operating assumptions that management believes are reasonable based on currently available information; however, management’s assumptions and the Company’s future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially. In addition, any forward-looking statements represent the Company’s estimates only as of today and should not be relied upon as representing its estimates as of any future date. Denbury assumes no obligation to update its forward-looking statements.
*DENBURY RESOURCES INC.*
*SUPPLEMENTAL NON-GAAP FINANCIAL MEASURE (UNAUDITED)*
Reconciliation of the preliminary standardized measure of discounted estimated future net cash flows after income taxes (GAAP measure) to PV-10 Value (non-GAAP measure)
PV-10 Value is a non-GAAP measure and is different from the preliminary Standardized Measure in that PV-10 Value is a pre-tax number and the Standardized Measure is an after-tax number. Denbury’s 2017 and 2016 year-end estimated proved oil and natural gas reserves and proved CO[2] reserves quantities were prepared by the independent reservoir engineering firm of DeGolyer and MacNaughton. The information used to calculate PV-10 Value is derived directly from data determined in accordance with FASC Topic 932. Management believes PV-10 Value is a useful supplemental disclosure to the Standardized Measure because the Standardized Measure can be impacted by a company’s unique tax situation, and it is not practical to calculate the Standardized Measure on a property-by-property basis. Because of this, PV-10 Value is a widely used measure within the industry and is commonly used by securities analysts, banks and credit rating agencies to evaluate the estimated future net cash flows from proved reserves on a comparative basis across companies or specific properties. PV-10 Value is commonly used by management and others in the industry to evaluate properties that are bought and sold, to assess the potential return on investment in the Company’s oil and natural gas properties, and to perform impairment testing of oil and natural gas properties. PV-10 Value is not a measure of financial or operating performance under GAAP, nor should it be considered in isolation or as a substitute for the Standardized Measure. PV-10 Value and the preliminary Standardized Measure do not purport to represent the fair value of the Company’s oil and natural gas reserves.
December 31,
In thousands 2017 2016
Preliminary Standardized Measure (GAAP measure) $ 2,232,429 $ 1,399,217
Discounted estimated future income tax 301,369 142,467
PV-10 Value (non-GAAP measure) $ 2,533,798 $ 1,541,684
*
DENBURY RESOURCES INC.*
*PRODUCTION HIGHLIGHTS (UNAUDITED)*
Quarter Ended Year Ended
December 31, Sept. 30, December 31,
*Average Daily Volumes (BOE/d) (6:1)* 2017 2016 2017 2017 2016
*Tertiary oil production*
*Gulf Coast region*
Mature properties^(1) 7,232 8,440 7,450 7,629 9,040
Delhi 4,906 4,387 4,619 4,869 4,155
Hastings 5,747 4,552 4,867 4,830 4,829
Heidelberg 4,751 4,924 4,927 4,851 5,128
Oyster Bayou 4,868 4,988 4,870 5,007 5,083
Tinsley 6,241 6,786 6,506 6,430 7,192
Total Gulf Coast region 33,745 34,077 33,239 33,616 35,427
*Rocky Mountain region*
Bell Creek 3,571 3,269 3,406 3,313 3,121
Salt Creek 2,172 — 2,228 1,115 —
Total Rocky Mountain region 5,743 3,269 5,634 4,428 3,121
Total tertiary oil production 39,488 37,346 38,873 38,044 38,548
*Non-tertiary oil and gas production*
*Gulf Coast region*
Mississippi 721 745 867 981 850
Texas 4,617 5,143 4,024 4,493 4,906
Other 483 569 515 489 528
Total Gulf Coast region 5,821 6,457 5,406 5,963 6,284
*Rocky Mountain region*
Cedar Creek Anticline 14,302 15,186 14,535 14,754 16,322
Other 1,533 1,696 1,514 1,537 1,844
Total Rocky Mountain region 15,835 16,882 16,049 16,291 18,166
Total non-tertiary production 21,656 23,339 21,455 22,254 24,450
*Total continuing production* 61,144 60,685 60,328 60,298 62,998
*Property sales*
Property divestitures^(2) — — — — 1,005
*Total production* 61,144 60,685 60,328 60,298 64,003
1. Mature properties include Brookhaven, Cranfield, Eucutta, Little Creek, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields.
2. Includes non-tertiary production in the Rocky Mountain region related to the sale of remaining non-core assets in the Williston Basin of North Dakota and Montana, which closed in the third quarter of 2016.
CONTACT: DENBURY CONTACTS:
Mark C. Allen, Executive Vice President and Chief Financial Officer, 972.673.2000
John Mayer, Director of Investor Relations, 972.673.2383 Reported by GlobeNewswire 1 hour ago.
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LINN Energy Announces Credit Suisse Energy Summit Presentation
HOUSTON, Feb. 12, 2018 (GLOBE NEWSWIRE) -- LINN Energy, Inc. (OTCQB:LNGG) (“LINN” or the “Company”) announces that presentation materials for the Credit Suisse 23nd Annual Energy Summit are now available on the company’s website at www.linnenergy.com under Investor Relations.As previously announced, Mark E. Ellis, President and Chief Executive Officer, and David Rottino, Executive Vice President and Chief Financial Officer, will be available for one-on-one meetings with investors in Vail, Colorado at the Credit Suisse 23nd Annual Energy Summit on February 14, 2018.
*ABOUT LINN ENERGY*
LINN Energy, Inc. was formed in February 2017 as the reorganized successor to LINN Energy, LLC. Headquartered in Houston, Texas, the Company’s current focus is the development of the Merge/SCOOP/STACK in Oklahoma through its equity interest in Roan Resources LLC, as well as through its midstream operations in that area. Additionally, the Company is pursuing emerging horizontal opportunities in Oklahoma, North Louisiana and East Texas, while continuing to add value by efficiently operating and applying new technology to a diverse set of long-life producing assets.
*CONTACT: *
Thomas Belsha, Vice President — Investor Relations & Corporate Development
LINN Energy, Inc.
(281) 840-4110
ir@linnenergy.com Reported by GlobeNewswire 1 hour ago.
*ABOUT LINN ENERGY*
LINN Energy, Inc. was formed in February 2017 as the reorganized successor to LINN Energy, LLC. Headquartered in Houston, Texas, the Company’s current focus is the development of the Merge/SCOOP/STACK in Oklahoma through its equity interest in Roan Resources LLC, as well as through its midstream operations in that area. Additionally, the Company is pursuing emerging horizontal opportunities in Oklahoma, North Louisiana and East Texas, while continuing to add value by efficiently operating and applying new technology to a diverse set of long-life producing assets.
*CONTACT: *
Thomas Belsha, Vice President — Investor Relations & Corporate Development
LINN Energy, Inc.
(281) 840-4110
ir@linnenergy.com Reported by GlobeNewswire 1 hour ago.
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Jones Energy Prices Offering of $450 Million of 9.25% Senior Secured First Lien Notes
AUSTIN, Texas, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Jones Energy Holdings, LLC (“JEH”) and Jones Energy Finance Corp. (“JEFC” and, together with JEH, the “Issuers”), both subsidiaries of Jones Energy, Inc. (NYSE:JONE) (“Jones Energy” or the “Company”), announced today that they have priced an offering of $450 million in aggregate principal amount of 9.25% senior secured first lien notes due 2023 (the “First Lien Notes”) at an offering price equal to 97.526% of par. The First Lien Notes will be senior secured first lien obligations of the Issuers and will be guaranteed on a senior secured first lien basis by Jones Energy and each of the Issuers’ existing and future restricted subsidiaries.The offering is expected to close February 14, 2018, subject to satisfaction of customary closing conditions. The Company intends to use net proceeds from the offering to repay all but $25 million of the outstanding borrowings under JEH’s existing senior secured revolving credit facility (the “Existing Revolver”), to fund drilling and completion activities, and for other general corporate purposes, which may include limited repurchases of the Issuers’ existing 6.75% senior notes due 2022 and 9.25% senior notes due 2023 (the “Existing Notes”). In connection with the closing of the offering, JEH intends to amend and restate the Existing Revolver to, among other things, (i) reduce the borrowing base from the current $350 million to $50 million, (ii) suspend testing of our senior secured leverage ratio until March 31, 2019 and (iii) suspend certain covenants indefinitely, including the financial maintenance covenants.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Accordingly, the securities are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
*About Jones Energy*
Jones Energy, Inc. is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko basin of Texas and Oklahoma. Additional information about Jones Energy may be found on the Company’s website at: www.jonesenergy.com.
*Investor Contact*
Page Portas, 512-493-4834
Investor Relations Associate
Or
Robert Brooks, 512-328-2953
Executive Vice President & CFO
*Forward-Looking Statements*
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, such forward-looking statements include statements regarding the intention to issue the First Lien Notes, to use offering proceeds to repay borrowings under the Existing Revolver, to fund drilling and completion activities, and for other general corporate purposes, which may include limited repurchases of the Existing Notes, to amend and restate the Existing Revolver, and to pay related fees and expenses of the notes offering. These statements are based on certain assumptions made by the Company and Issuers based on management’s experience and perception of historical trends, current economic and market conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company and Issuers, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company and Issuers undertake no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Reported by GlobeNewswire 1 hour ago.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Accordingly, the securities are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
*About Jones Energy*
Jones Energy, Inc. is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko basin of Texas and Oklahoma. Additional information about Jones Energy may be found on the Company’s website at: www.jonesenergy.com.
*Investor Contact*
Page Portas, 512-493-4834
Investor Relations Associate
Or
Robert Brooks, 512-328-2953
Executive Vice President & CFO
*Forward-Looking Statements*
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, such forward-looking statements include statements regarding the intention to issue the First Lien Notes, to use offering proceeds to repay borrowings under the Existing Revolver, to fund drilling and completion activities, and for other general corporate purposes, which may include limited repurchases of the Existing Notes, to amend and restate the Existing Revolver, and to pay related fees and expenses of the notes offering. These statements are based on certain assumptions made by the Company and Issuers based on management’s experience and perception of historical trends, current economic and market conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company and Issuers, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company and Issuers undertake no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Reported by GlobeNewswire 1 hour ago.
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Exterran Corporation Announces Fourth Quarter 2017 Earnings Release and Conference Call Schedule
HOUSTON, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Exterran Corporation (NYSE:EXTN) (“Exterran” or the “Company”) today announced that it will release its fourth quarter 2017 results on Monday, February 26, 2018 after the market close. The Company has scheduled a conference call for Tuesday, February 27, 2018 at 10 a.m. Central Time to discuss the results. The call will be broadcast live over the Internet. Investors may participate either by phone or audio webcast.By Phone: Dial 877-524-8416 at least 10 minutes before the call. A replay will be available through Tuesday, March 6, 2018 by dialing 877-660-6853 and using the passcode 13676654.
By Webcast: Connect to the webcast via the Investor Relations section of Exterran’s website at www.exterran.com. Please log in at least 10 minutes in advance to register and download any necessary software. A replay will be available shortly after the call.
*About Exterran Corporation *
Exterran Corporation (NYSE:EXTN) is a global market leader in natural gas processing and treating, compression and production products and services, providing critical midstream infrastructure solutions to customers throughout the world. Outside the United States, Exterran Corporation is a leading provider of full-service natural gas contract compression and water treatment solutions, and a supplier of new, used, OEM and aftermarket parts and services. Exterran Corporation is headquartered in Houston, Texas and operates in approximately 30 countries.
For more information, visit www.exterran.com.
*Forward-Looking Statements *
All statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside Exterran Corporation’s (“Exterran”) control, which could cause actual results to differ materially from such statements. Forward-looking information includes, but is not limited to, Exterran’s expectations regarding the anticipated timing and results of the Audit Committee’s internal investigation; the anticipated timing for filing restated financial statements with the SEC; and the impact and materiality of errors on the Company’s financial statements.
While Exterran believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are unanticipated delays in completing the Audit Committee’s internal investigation, the preparation and audit of the Company’s previously filed financial statements and the implementation of changes to the Company’s internal controls and procedures.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Exterran’s Annual Report on Form 10-K for the year ended December 31, 2016, and other filings with the Securities and Exchange Commission available on the Securities and Exchange Commission’s website www.sec.gov. A discussion of these risks is expressly incorporated by reference into this release. Except as required by law, Exterran expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
*For information, contact:*
Investors - Greg Rosenstein, 281-854-3199
Media - George Smalley, 281-854-3163 Reported by GlobeNewswire 55 minutes ago.
By Webcast: Connect to the webcast via the Investor Relations section of Exterran’s website at www.exterran.com. Please log in at least 10 minutes in advance to register and download any necessary software. A replay will be available shortly after the call.
*About Exterran Corporation *
Exterran Corporation (NYSE:EXTN) is a global market leader in natural gas processing and treating, compression and production products and services, providing critical midstream infrastructure solutions to customers throughout the world. Outside the United States, Exterran Corporation is a leading provider of full-service natural gas contract compression and water treatment solutions, and a supplier of new, used, OEM and aftermarket parts and services. Exterran Corporation is headquartered in Houston, Texas and operates in approximately 30 countries.
For more information, visit www.exterran.com.
*Forward-Looking Statements *
All statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside Exterran Corporation’s (“Exterran”) control, which could cause actual results to differ materially from such statements. Forward-looking information includes, but is not limited to, Exterran’s expectations regarding the anticipated timing and results of the Audit Committee’s internal investigation; the anticipated timing for filing restated financial statements with the SEC; and the impact and materiality of errors on the Company’s financial statements.
While Exterran believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are unanticipated delays in completing the Audit Committee’s internal investigation, the preparation and audit of the Company’s previously filed financial statements and the implementation of changes to the Company’s internal controls and procedures.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Exterran’s Annual Report on Form 10-K for the year ended December 31, 2016, and other filings with the Securities and Exchange Commission available on the Securities and Exchange Commission’s website www.sec.gov. A discussion of these risks is expressly incorporated by reference into this release. Except as required by law, Exterran expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
*For information, contact:*
Investors - Greg Rosenstein, 281-854-3199
Media - George Smalley, 281-854-3163 Reported by GlobeNewswire 55 minutes ago.
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Claim Post Announces Appointment of Chief Operating Officer
TORONTO, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Claim Post Resources Inc. (TSX-V:CPS) ("*Claim Post*" or the "*Company*") is pleased to announce the appointment of Mr. Robert (Bob) D. Archibald as Chief Operating Officer of the Company.Mr. Archibald has over 40 years of technical, operational and executive experience in mining, construction materials, aggregates and industrial minerals industries. Mr. Archibald has been involved in a variety of frac sand operations located in the states of Texas, Illinois and Wisconsin in the United States and in the province of Alberta in Canada. He holds a Bachelors degree in Mining Engineering from Montana College of Mineral Science and Technology and an MBA from Oklahoma City University. Mr. Archibald is a registered Professional Engineer in the United States. He is also a Qualified Person as defined by National Instrument 43-101. Mr. Archibald has served on the Board of Directors of the National Stone, Sand and Gravel Association. “Claim Post’s focus on development of its Tier 1 frac sand deposit at Seymourville has been greatly enhanced through the addition of Bob Archibald’s expertise to our team,” stated Executive Chairman Mr. Lowell Jackson.
In conjunction with this appointment, the Company has granted him options to acquire 1,000,000 common shares (the "*Shares*") in the capital of the Company at an exercise price of $0.085 per Share until February 12, 2021. The options are exercisable over a three year period ending February 12, 2021, with one-third of the options vesting immediately, one-third vesting on the first anniversary date of the grant, and one-third on the second anniversary date of the grant.
Claim Post is a publicly traded, Canadian based growth oriented energy services company focusd on its high quality frac sand deposit located in Seymourville, Manitoba. Claim Post currently has 131,224,707 shares issued and outstanding and trade on the TSX Venture Exchange under the symbol CPS-V.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
www.claimpostresources.com
CONTACT: CONTACT INFORMATION:
Claim Post Resources Inc.
Lowell Jackson
Executive Chairman and Interim President
(403) 660-3702 Reported by GlobeNewswire 56 minutes ago.
In conjunction with this appointment, the Company has granted him options to acquire 1,000,000 common shares (the "*Shares*") in the capital of the Company at an exercise price of $0.085 per Share until February 12, 2021. The options are exercisable over a three year period ending February 12, 2021, with one-third of the options vesting immediately, one-third vesting on the first anniversary date of the grant, and one-third on the second anniversary date of the grant.
Claim Post is a publicly traded, Canadian based growth oriented energy services company focusd on its high quality frac sand deposit located in Seymourville, Manitoba. Claim Post currently has 131,224,707 shares issued and outstanding and trade on the TSX Venture Exchange under the symbol CPS-V.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
www.claimpostresources.com
CONTACT: CONTACT INFORMATION:
Claim Post Resources Inc.
Lowell Jackson
Executive Chairman and Interim President
(403) 660-3702 Reported by GlobeNewswire 56 minutes ago.
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Central Texas wealth management firm acquires competitor in Brenham
South Texas Money Management Ltd. has closed on the acquisition of another wealth management firm east of Austin, Creekside Investment Management Inc. Brenham-based Creekside reported that it had fewer than 100 clients, consisting of individuals and pension funds, according to federal records on file. Total assets under management totaled $81.7 million across 45 accounts, records show. Creekside was founded in 1989 by Eugene Clarence Hammons. Financial details of the acquisition were not disclosed. The…
Reported by bizjournals 36 minutes ago.
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US military adds more than 4,000 names to gun background check database after Texas mass shooting
Shooting reveals military consistently failed to report convictions to FBI
Reported by Independent 3 minutes ago.
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Speedway Motorsports, Inc. Declares Quarterly Cash Dividend of 15 Cents Per Share
*CONCORD, NC, Feb. 12, 2018 (GLOBE NEWSWIRE) -- *Speedway Motorsports, Inc. (SMI) (NYSE:TRK) on February 12, 2018 declared a quarterly cash dividend of 15 cents per share of common stock. The quarterly dividend will be payable on March 15, 2018 to shareholders of record at the close of business on March 1, 2018. Speedway Motorsports, Inc. is a leading marketer, promoter and sponsor of motorsports entertainment in the United States. The Company, through its subsidiaries, owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway. The Company provides souvenir merchandising services through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its U.S. Legend Cars International subsidiary; and produces and broadcasts syndicated motorsports programming to radio stations nationwide through its Performance Racing Network subsidiary. For more information about Speedway Motorsports, visit www.speedwaymotorsports.com.
This news release contains forward-looking statements, particularly statements with regard to our future operations and financial results. There are many factors that affect future events and trends of our business including, but not limited to, economic factors, geopolitical conditions, weather, the success of NASCAR and others as sanctioning bodies, capital projects and expansion, financing needs, and a host of other factors both within and outside of management control. These factors and other factors, including those contained in our Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q, involve certain risks and uncertainties that could cause actual results or events to differ materially from management's views and expectations. Inclusion of any information or statement in this news release does not necessarily imply that such information or statement is material. The Company does not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this news release is based on information currently available and may not be reliable after this date.
CONTACT: Contact: Janet Kirkley
704-532-3318 Reported by GlobeNewswire 43 minutes ago.
This news release contains forward-looking statements, particularly statements with regard to our future operations and financial results. There are many factors that affect future events and trends of our business including, but not limited to, economic factors, geopolitical conditions, weather, the success of NASCAR and others as sanctioning bodies, capital projects and expansion, financing needs, and a host of other factors both within and outside of management control. These factors and other factors, including those contained in our Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q, involve certain risks and uncertainties that could cause actual results or events to differ materially from management's views and expectations. Inclusion of any information or statement in this news release does not necessarily imply that such information or statement is material. The Company does not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this news release is based on information currently available and may not be reliable after this date.
CONTACT: Contact: Janet Kirkley
704-532-3318 Reported by GlobeNewswire 43 minutes ago.
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