Cushing | Jotup

Prairie Provident Resources Announces Strategic Asset Sales

Retrieved on:

Monday, October 30, 2023

Princess, AER, Evi, Canadian petroleum companies, ARO, Asset purchase agreement, Cushing, USD, WTI, Oil, Real estate, Bank, Provost

Both transactions are currently expected to close on or before January 31, 2024 and are subject to regulatory approval, customary closing conditions and purchase price adjustments.

Key Points:

Both transactions are currently expected to close on or before January 31, 2024 and are subject to regulatory approval, customary closing conditions and purchase price adjustments.
Completion of the Evi Sale and the Provost Sale will build upon the recapitalization initiated in May 2023 by streamlining the Company’s asset portfolio through the disposition of undercapitalized legacy assets, in turn allowing Prairie Provident to focus on higher return development opportunities in Central and Southern Alberta.
The properties included in the Evi Sale comprise the Company’s entire asset base in the Northern Alberta region.
National Bank Financial Inc. acted as financial advisor to Prairie Provident with respect to the Evi Sale.

USD Partners LP Announces Short-Term Agreement at Stroud Terminal

Retrieved on:

Wednesday, June 28, 2023

Trucking, Rail, Other Energy, Oil, Gas, Transport, Alternative Energy, Energy, NYSE, USD, USDP, Cushing, Partner, Uinta Basin, TSA, Lease

USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into a three month rail-to-truck Terminalling Services Agreement (“TSA”) with a new, third party customer at the Partnership’s Stroud, Oklahoma terminal (the “Stroud Terminal”).

Key Points:

USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into a three month rail-to-truck Terminalling Services Agreement (“TSA”) with a new, third party customer at the Partnership’s Stroud, Oklahoma terminal (the “Stroud Terminal”).
The short-term agreement includes take-or-pay provisions with a minimum volume commitment.
The customer is entering into the agreement as a trial period to test the Stroud Terminal as a destination for its waxy crude oil production out of the Uinta Basin.
“As previously discussed during our first quarter 2023 earnings call, we are excited about this new business opportunity and the re-purposing of our Stroud Terminal to handle waxy crude from the Uinta Basin,” said Brad Sanders, USD Group’s Chief Commercial Officer.

Holly Energy Partners, L.P. Reports Fourth Quarter Results

Retrieved on:

Friday, February 24, 2023

Holly Energy Partners, L.P. (“HEP” or the “Partnership”) (NYSE: HEP) today reported financial results for the fourth quarter of 2022.

Key Points:

Holly Energy Partners, L.P. (“HEP” or the “Partnership”) (NYSE: HEP) today reported financial results for the fourth quarter of 2022.
Distributable cash flow was $85.8 million for the fourth quarter of 2022, an increase of $22.7 million, or 36.1%, compared to the fourth quarter of 2021.
Commenting on our 2022 fourth quarter results, Michael Jennings, Chief Executive Officer and President, stated, "HEP delivered another excellent quarter, supported by record volumes across our integrated system.
Revenues for the fourth quarter of 2022 were $142.5 million, an increase of $24.0 million compared to the fourth quarter of 2021.

Cushing® MLP & Infrastructure Total Return Fund and NXG NextGen Infrastructure Income Fund Announce Officer Changes

Retrieved on:

Thursday, December 1, 2022

LP, Region, Financial adviser, Bank, Investment, J. P. Morgan, Cushing, BofA Securities, NYSE, Sale, NXG, Principal, Trustee

DALLAS, Dec. 1, 2022 /PRNewswire/ -- The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) and NXG NextGen Infrastructure Income Fund (NYSE: NXG), each a closed-end management investment company (the "Funds," and each a "Fund"),announced that effective November 30, 2022, John H. Alban, Chief Executive Officer and President of the Funds, retired from Cushing Asset Management, LP, the Funds' investment adviser (the "Investment Adviser") and from his position with the Funds.

Key Points:

DALLAS, Dec. 1, 2022 /PRNewswire/ -- The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) and NXG NextGen Infrastructure Income Fund (NYSE: NXG), each a closed-end management investment company (the "Funds," and each a "Fund"),announced that effective November 30, 2022, John H. Alban, Chief Executive Officer and President of the Funds, retired from Cushing Asset Management, LP, the Funds' investment adviser (the "Investment Adviser") and from his position with the Funds.
Mr. Mark Rhodes, Chief Executive Officer of the Investment Adviser, has been appointed to serve as Chief Executive Officer and President of the Funds.
Cushing, a subsidiary of Swank Capital, is an SEC-registered investment adviser headquartered in Dallas, Texas.
Cushing serves as investment adviser to affiliated funds and managed accounts providing active management in markets where inefficiencies exist.

SVB Hires Laura Cushing as Chief Human Resources Officer

Retrieved on:

Monday, October 17, 2022

SANTA CLARA, Calif., Oct. 17, 2022 /PRNewswire/ -- SVB Financial Group (SVB), the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced the appointment of Laura Cushing as Chief Human Resources Officer (CHRO).

Key Points:

SANTA CLARA, Calif., Oct. 17, 2022 /PRNewswire/ -- SVB Financial Group (SVB), the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced the appointment of Laura Cushing as Chief Human Resources Officer (CHRO).
In this role, Cushing will lead the Human Resources function, enabling a diverse and global workforce to serve the financial needs of the innovation economy.
SVB provides innovators, enterprises and investors with the services they need to succeed via four complementary businesses: Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities.
SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL and the chevron device are trademarks of SVB Financial Group, used under license.

Navigator Energy Services Announces Addition of Ken Reasnor as Senior Vice President of Commercial

Retrieved on:

Tuesday, April 19, 2022

Navigator Energy Services (Navigator) announced today that Ken Reasnor has joined the company as Senior Vice President of Commercial.

Key Points:

Navigator Energy Services (Navigator) announced today that Ken Reasnor has joined the company as Senior Vice President of Commercial.
View the full release here: https://www.businesswire.com/news/home/20220419005306/en/
Ken Reasnor, Senior Vice President of Commercial (Photo: Business Wire)
As Senior Vice President of Commercial, Reasnor will lead the day-to-day management of commercial and business development, including the attraction of new merchant volumes and related service offerings.
Ken is the ideal person to lead Navigators next chapter of growth, said Matt Vining, Navigator Chief Executive Officer.
Navigator Energy Services provides comprehensive midstream services including product gathering, transportation and sequestration.

Cushing Terrell Announces Pro Bono Program for Social Action

Retrieved on:

Tuesday, February 15, 2022

Creativity, Engineering, Review, Empathy, DEI, Multimedia, Program, Architecture, CEO, Goal, View, Cushing, Organization, Pharmaceutical industry, Management

The firmwide pro bono programencompassing all thirteen officesis part of a larger effort by the practice to better define its commitment to social action.

Key Points:

The firmwide pro bono programencompassing all thirteen officesis part of a larger effort by the practice to better define its commitment to social action.
In addition to providing pro bono services, this initiative includes action around diversity, equity, and inclusion (DEI), community service, charitable giving, and sustainable design.
The objective of the program is to support communities local to Cushing Terrell office locations and to engage with organizations outside of the firm's immediate network.
"Our pro bono efforts support underserved communities by matching them up with our diverse team of design professionals," Muchow notes.

Cushing® MLP & Infrastructure Total Return Fund and Cushing® NextGen Infrastructure Income Fund Announce Trustee Resignation and Trustee Appointment

Retrieved on:

Friday, November 19, 2021

Sale, Income, Trustee, NYSE, Audit committee, Mission statement, SEC, Cushing, Class, Organization, Board, Cushing House, Investment, Security (finance)

Ms. Mullins will serve as a Class II trustee of each Fund.

Key Points:

Ms. Mullins will serve as a Class II trustee of each Fund.
The term of the Class II trustees of The Cushing NextGen Infrastructure Income Fund continues until the annual meeting of shareholders to be held in 2022.
The term of the Class II trustees of The Cushing MLP & Infrastructure Total Return Fund continues until the annual meeting of shareholders to be held in 2024.
Cushing serves as investment adviser to affiliated funds and managed accounts providing active management in markets where inefficiencies exist.

Data Vault Holdings Inc. Appoints Ed Cushing Chairman to the Advisory Board

Retrieved on:

Wednesday, October 27, 2021

The advisory board of Data Vault Holdings Inc. will be focused on appointing official advisory relationships composed of distinguished strategic partners, customers, industry leaders and future potential acquirers.

Key Points:

The advisory board of Data Vault Holdings Inc. will be focused on appointing official advisory relationships composed of distinguished strategic partners, customers, industry leaders and future potential acquirers.
Nathaniel Bradley, co-founder and CEO of Data Vault Holdings added, "We are thrilled to welcome Ed Cushing to our advisory board and look forward to his guidance and expertise.
"I am excited to work with Alfred, Nate and the team at Data Vault Holdings by joining their advisory board today," said Ed Cushing.
Data Vault Holdings Inc. provides businesses with the tools to monetize data assets securely over its Information Data Exchange (IDE).

Cushing Terrell Joins the Renewable Energy Conversation at Greenbuild 2021

Retrieved on:

Wednesday, October 13, 2021

When it comes to resilience in the face of natural disasters, microgrid systems offer benefits that include onsite energy generation and storage, the use of renewable energy sources, and the option to connect and disconnect from primary utility grids.

Key Points:

When it comes to resilience in the face of natural disasters, microgrid systems offer benefits that include onsite energy generation and storage, the use of renewable energy sources, and the option to connect and disconnect from primary utility grids.
Microgrids aren't a new concept, but they're fast gaining traction in the effort to identify reliable, climate-friendly alternatives toourcurrent infrastructure.
Cushing Terrell was founded in 1938 on the belief that integrating architecture, engineering, and design opens doors for deepened relationships and enhanced creativity.
With more than 375 team members and expertisein over 30 disciplines, the firm supportsthecommercial, education, government, healthcare,infrastructure,residential, and retail markets.For more information about Cushing Terrell, visit cushingterrell.com.