Ovintiv to sell Eagle Ford assets to Validus Energy for $880m

first_imgDeal will help the company to cut down its debt to under $5bn by the year-end Ovintiv strikes $880m deal to divest its assets in the Eagle Ford Basin in the US. (Credit: Monika Wrangel from Pixabay) Ovintiv, a North American oil and gas producer, has agreed to divest its Eagle Ford assets in the US to Validus Energy for $880m.The company expects full year 2021 volumes from its Eagle Ford assets to average around 21 thousand barrels of oil equivalent per day (MBOE/d). Included in these is 14 Mbbls/d of crude and condensate.Ovintiv’s Eagle Ford assets are located in south Texas.The deal with Validus Energy enables the company to surpass its divestiture target with more than $1.1bn in asset sales. Besides, the transaction will help it bring down its year-end 2021 debt to under $5bn.Ovintiv anticipates achieving its debt target of $4.5bn in the first half of next year.Ovintiv CEO Doug Suttles said: “Today’s Eagle Ford announcement continues our track record of unlocking value from non-core assets. Proceeds will significantly accelerate the achievement of our debt reduction target and allow us to pay off near-term debt maturities with cash on hand.“Our 2021 outlook is strong and we expect to generate significant free cash flow for the fourth consecutive year.”The company’s core growth assets are located in the Anadarko Basin and Permian Basin in the US, and in the Montney Formation in Canada.For the full year 2021, the company expects to achieve crude and condensate volumes of around 190Mbbls/d, which includes an impact of 10Mbbls/d from divestitures.Ovintiv said that there will be no changes for its planned capital investments for this year, which will stay at around $1.5bn.Last month, the North American oil and gas company announced the sale of its Duvernay assets in Alberta, Canada in a deal worth up to around $263m to an undisclosed buyer.The Duvernay agreement along with the Eagle Ford transaction, which are subject to closing conditions and regulatory approvals, are expected to be closed in Q2 2021.last_img read more

After 51 Super Bowls, When Will the Eagles Finally Win One?

first_imgFor long suffering fans of the Philadelphia Eagles, Super Bowl Sunday is always met with a sense of sadness. How can a franchise that has enjoyed a relatively successful tenure in the NFL still be without a Super Bowl victory? Well maybe, just maybe, that will change in the near future.During Andy Reid’s time with the Eagles, they were a perennial playoff team that made it to a Super Bowl in 2005. After Reid’s time in Philly, I think most Eagles fans would agree that the Chip Kelly experiment was a failure and actually set the team back during his 3 years in Philadelphia. Now with new coach, Doug Pederson, in place and the seemingly smart move to draft a potential franchise Quarterback in Carson Wentz, the Eagles fortunes have certainly begun to look up.The Eagles front office has expressed an interest in clearing significant salary cap space by parting ways with some long-standing veterans. Names like Connor Barwin, Jason Kelce, Jason Peters, Brent Celek and Ryan Matthews have been mentioned as those who could very well be on their way out. With that needed cap space, the Eagles would have the ability to address some of the most glaring areas of need on the team for 2017.If you even watched one quarter of an Eagles game this year, you probably noticed the Eagles wide receivers rarely caught a pass this year. Addressing the need for sure handed wide receivers who can not only catch the ball but also spread the field with additional speed, may signal a potential return of former fan favorite, DeSean Jackson. The former Eagles wide receiver was famously cut by Chip Kelly and ended up playing the past several seasons for the Washington Redskins. While not the dynamic player he once was, Jackson is still a big play receiver who would be welcomed back by the fans of Philadelphia to help improve our receiving corps.The Eagles also shrewdly acquired a first round pick for serial under-performer, Sam Bradford, right before the start of the 2016 season. That pick has now become the number 14 pick in the draft and will allow the Eagles to pursue other areas of need on the team such as Cornerback and an edge Defensive player who can help apply more pressure on opposing Quarterbacks. Interestingly enough, the draft is being held in Philadelphia this year, so perhaps that is a sign of good luck for the Eagles.Despite the fact that the Eagles missed the playoffs again this year, it is interesting to note that they beat the Super Bowl bound Atlanta Falcons in November in Philadelphia and also famously let a few other games slip away from them over the course of the year. Perhaps with an improved roster and a coach and QB who have gained more experience, the prospect of the Eagles making the playoffs next year look very good.When will the Eagles actually win a Super Bowl? It’s hard to say…..let us know what you think by visiting our Facebook page and voicing your opinion.last_img read more

Costa says no plans to slow store development

first_imgThe coming recession is unlikely to affect Costa Coffee’s store expansion plans though pricing on food could come under pressure, Costa’s MD John Derkach told British Baker.Despite reports that people are cutting back on coffee shop visits he said the chain had not yet felt the need to adapt its pricing on coffee. “We haven’t felt the pressure thus far. Clearly there’s no cause for complacency, as you cannot predict what’s going to happen tomorrow let alone next year,” he said.However, he added that food, such as sandwiches and cakes, which represents around 30% of Costa’s business compared to 70% for coffee, may come under review. “Sandwiches and cakes are important to our business and it might be appropriate to look at the pricing of those in different ways. But more importantly, we’d look at developing slightly different products.”He added that the economic climate has not affected Costa’s expansion plans.”We might have to think twice about certain sites but there are still huge opportunities to grow, so we haven’t changed the rate of expansion. It’s constantly under review and we can turn that tap off and on at short notice, if we need to.”—-=== Costa Barista of the Year ===Costa Coffee has awarded Kat Finch, from Costa at Strensham Roadchef Service Station, its official world Barista champion. Twenty-year-old Kat competed against nine other finalists from all over the world at the annual Costa Barista of the Year Competition held at Costa’s Roastery in London.last_img read more

In Short

first_imgSoreen launchMalt loaf brand Soreen says it is positioning itself within the morning goods category with the launch of the first-ever Malt Toastie loaf, available in Asda from 12 September, at an RSP of £1.39, followed by other supermarkets. The Malt Toastie loaf has been developed specifically for toasting and is pre-sliced. The launch will be backed by a major national marketing campaign. A fruity version will follow.Aberdeen openingScottish cake shop chain Bibi’s Bakery plans to open a third shop in Aberdeen in October. The retailer, which is a finalist in this year’s National Cupcake Championships, already has two shops, in St Andrews and Edinburgh.Fine for Just BakedSunderam Premanand, owner of Just Baked, in Bolton Road, Luton, was fined £10,000 at Luton Magistrates Court after pleading guilty to 10 food hygiene offences, including failing to protect food against contamination, failure to keep fixtures and fittings in good condition, and failure to keep the premises clean.Lewis revamps webSwansea-based Lewis Pies is relaunching its website at www.lewispies.co.uk following a major overhaul. The site includes a blog page on news and views at Lewis Pie and Pasty Co.Support NCW charityDon’t forget to support British Baker’s partner charity CLIC Sargent during this year’s National Cupcake Week from 12-18 September. You can help to raise vital funds for children with cancer by making a percentage donation of cupcake sales during the week or by selling 100 cupcake pin badges for a suggested donation of £1 each. For details, go to nationalcupcakeweek.co.uk.last_img read more

Forecast seems less accurate than usual? You can blame the lack of air travel

first_img (Source: https://goo.gl/3Tr56TLicense: https://goo.gl/sZ7V7x) If local forecasts seem a little less accurate than usual don’t blame the meteorologists it turns out Coronavirus is making their job harder. Did you know that airplanes provide a large amount of the data that forecasters use to predict the weather? With the massive decrease in air travel those numbers are now much more scarce and that means models are less accurateABC 57 Meteorologist David Caulfield says that experts estimate that climate models are roughly 15% less accurate when you remove data taken in by airplanes. By the end of March alone experts say meteorological data provided by aircraft had already dropped by half.Get the full report here with ABC 57 News Facebook Twitter Pinterest Google+ Facebook By Carl Stutsman – April 20, 2020 0 407 Pinterest Forecast seems less accurate than usual? You can blame the lack of air travel CoronavirusIndianaLocalMichiganNewsWeather Twitter Google+ WhatsApp WhatsApp Previous articleIDOC hosting three Virtual Career Fairs this week for various facilitiesNext articleFire crews in Elkhart respond to fire at Conn-Selmer building Carl Stutsmanlast_img read more

Group advocates for inclusion

first_imgIn their final meeting of the semester, members of Campus Life Council (CLC) discussed how to best advocate for the expansion of inclusion on the basis of sexual orientation, race and ethnicity in student government’s Year End Report to the Board of Trustees. Student body president emeritus Pat McCormick said student government regularly reports student concerns to a Board of Trustees committee responsible for the Board of Student Affairs. These reports usually happen two to three times each year. “In the fall, we presented students’ advocacy of sustainability, informing the building of a Notre Dame for the 21st century,” McCormick said. “We thought this time it would be especially valuable to talk about how we might expand inclusion in the Notre Dame family, particularly ethnicity and race, as well as sexual orientation, based on events in the past couple of months.” Ed Mack, rector of O’Neill Hall, said although student government has tried to expand inclusion in the past, there might be better ways to work with the University administration.“ “I’’m wondering if after the presentation we can ask, ‘‘What are we missing?’’ What’’s their advice to us?” he said. ““The best and brightest of student government have worked on this for several years and there hasn’’t been much progress.”“ McCormick said Student Senate passed resolutions requesting the addition of sexual orientation to its nondiscrimination clause and the approval of a gay-straight alliance (GSA) or equivalent student group. “The University ran a press release last week on their intent to expand inclusion. We don’t think it has been unsuccessful,” McCormick said. “I hope this year’s work speaks to a broad consensus on all sides on sexual orientation and race that we have made progress.” Members of CLC also discussed concerns students have voiced in the past week. Former Zahm Hall Senator Kevin Noonan said students thought the administration’s press release was ambiguous. (Editor’s Nnote: Noonan is the Scene editor for The Observer.) “There’s been a lot of student support, specifically for a GSA and a sexual orientation clause,” he said. “I think for the very least, ask [in the Year End Report] for an explanation, a public explanation, of what’s holding it back when students have supported this for so long.” The work of several campus stakeholders was essential to the progress made this year, McCormick said. “We are committed to ensuring discrimination in every form is confronted,” he said. “Students have advocated in extraordinary ways and in ways that remain in line with the mission of the University. We hope to express our gratitude that engagement from other stakeholders has occurred and hope to progress in weeks to come.”last_img read more

Shorts: Blue Ridge Briefs

first_imgEastern Cougar Declared Extinct?In June the U.S. Fish and Wildlife Service decided it was ready to call the eastern cougar extinct. The particular subspecies of big cats has been on the Endangered Species List since 1973, and although there have been recent confirmed cougar sightings in the East, officials say those were likely western mountain lions that migrated to the right coast.“We recognize that people have seen cougars in the wild in the eastern U.S.,” said Martin Miller, northeast chief of endangered species, in an AP report. “Those cougars are not of the eastern cougar subspecies.”Eastern cougar populations declined rapidly in the 1800s, killed by European settlers protecting livestock as they harvested native forests. The large cats, known as mountain lions, pumas, and other names in different parts of the country, are still being spotted on the East Coast. A cougar was killed in Kentucky last December. A 60-day comment period on the proposal to remove the specific eastern cougar subspecies from the endangered list ends later this month.Two Virginia Friends Visiting Every National Park in a YearTwo buddies from Charlottesville are currently on an epic road trip, traveling across the country with plans to visit all 59 National Parks in the continental U.S. within the next year. In June, Trevor Kemp and Darius Nabors both quit their jobs at the University of Virginia and set off to visit the 59 parks within 59 weeks, an excursion undertaken to commemorate the National Park Service’s 100th anniversary in 2016. “I’ve always wanted to go on the great American road trip, and this is like an extreme version of that,” Nabors told the Daily Progress. The pair left Virginia in a Dodge Ram truck borrowed from Nabors’ parents. They started at Cuyahoga Valley National Park in Ohio and plan to finish next August at Maine’s Arcadia National Park. Along the way adventure plans include canoeing in the Boundary Waters in Minnesota and hiking the 93-mile Wonderland Trail in Washington.—Follow the journey at 59in59.com A.T. Plate Sales Raise a Million Dollars in N.C. The Appalachian Trail Conservancy announced in June that it has raised more than $1 million from sales of the A.T. license plate in North Carolina. Trail lovers willing to spend a little extra for the specialty plate, first offered in the state in 2005, are making a big difference along America’s Favorite Footpath. The conservancy funnels the cash raised from the plates—also offered in Virginia, Tennessee, Georgia, and Pennsylvania—straight to trail maintenance through grants given to trail clubs and other organizations. According to the Asheville Citizen-Times, this year the ATC has already given $30,000 to trail projects, monitoring, and outreach.5point Film Fest Headed to Asheville, N.C.On August 14-16, Asheville will host a celebration of the country’s top boundary-pushing adventure films. The festival weekend will kickoff with a free outdoor party before the films roll at 7pm on Friday. Saturday’s line up will include a community picnic, ice cream social, van life rally, dance party with DJ Marley, a youth adventure film program, and an amazing lineup of powerful films. BRO Editor in Chief Will Harlan will moderate a panel of top regional athletes on Saturday morning at the New Mountain Sol Bar—including elite triathlete and runner Jay Curwen, Girls at Play founder Anna Levesque, ultra running wild man Adam Hill, pro paddler Pat Keller, and champion mountain biker Sam Koerber—who embody the spirit of the film fest. Unlike other film fests, 5Point features films that are about more than heart-pumping adrenaline. They highlight people who go deeper and give voice to the places and issues that matter most.5pointfilm.org/ashevilleBikers Bare AllOn June 13 groups of cyclists around the world once again stripped down and pedaled in unity as part of the World Naked Bike Ride. With bare butts on seats, bikers in cities across the globe from Barcelona to Chicago took short rides to raise awareness for alternative transportation and cyclist safety. In Portland, Oregon, an estimated 10,000 riders pedaled in the buff. A spokesperson explained why: “We face automobile traffic with our naked bodies as the best way of defending our dignity and exposing the unique dangers faced by cyclists and pedestrians as well as the negative consequences we all face due to dependence on oil and other forms of non-renewable energy.”500-Pound Man Planning Marathon in DecemberDerek Mitchell is shedding pounds on race courses. Since March the Kansas City-based Mitchell has committed to running at least one 5K a month in an effort to lose weight, and so far it’s working. In March he weighed 570 pounds, and in late June he was down to 538 after finishing five races. Now he’s raising the bar and planning to run the Honolulu Marathon in December. He picked the race because it doesn’t have a time limit, but he’s taking the endeavor seriously, telling Runner’s World that he recently started a six-month endurance-building training plan. “I’m losing about 12 pounds per month, so if I keep that up, I’ll be at about 450 pounds by December, which, to think about that is awesome,” Mitchell told RW.last_img read more

Crying out for an end to overdraft fees? Meet grain technology

first_imgProbably the single most despised charge at financial institutions is the overdraft fee – and a NerdWallet survey of the exact charges imposed by a selection of mid-sized (Navy Federal) through mammoth (Chase) institutions found fees at $20 (Navy Federal) and as high as $39 (KeyBank).$35 is a particularly common charge in the survey.Rapacious greed.Ask yourself this. You present a Visa card at WalMart and the card is declined (and you know it’s because the balance is overextended and a payment is late).  Does the cashier say, “Sorry, bud, card declined and now you owe us another $35 for being a nuisance.”That does not happen. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

PPP forgiveness: Choosing the best covered period

first_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Heather Bosenko Heather started at Lucro in 2013 where she’s done everything from underwriting to developing and launching the CUSO’s digital lending tool. Prior to that, Heather worked in the banking world … Web: https://www.lucro.org Details For borrowers with a potential loan payment looming, it can be tempting to rush into the PPP loan forgiveness process, but making sure your members know how to choose the best covered period could actually help them get more of their loan forgiven. While you’re having discussions with members about these PPP covered periods it’s important to be aware of the advantages of waiting and utilizing the 24-week covered period to maximize their forgiveness.What is the 24-week covered period? The covered period begins on the loan origination date and eligible expenses are then incurred over the following 24 weeks.Some of the advantages of utilizing the 24-week covered period include:Getting the maximum forgivable amount. For a proprietor with no employees or an independent contractor filing a 1040 Schedule C, the maximum loan amount that can be forgiven using an 8-week covered period is $15,385. Choosing a 24-week covered period will allow for a maximum forgivable amount of $20,833.Time to increase staffing and wages. If there were reductions in employee wages there would be a penalty assessed in the forgivable amount if the wages or the number of employees is not restored by the time you apply for forgiveness. By using a 24-week covered period, there is more time to restore these employees before applying for forgiveness.More time to speak with advisors. By choosing the 24-week covered period, borrowers have more time to consult advisors who can help gather the appropriate documentation for forgiveness or even prepare a professional payroll report.Ultimately there is no need to rush. Members have 10-months to apply for forgiveness after the last date of their chosen covered period. The PPP program has been a moving target since the beginning with rules and guidance continuously changing. Waiting to apply could save time and effort as new rules come into place.Although many borrowers are anxious to begin the forgiveness process, it’s crucial that your credit union is ready to respond with accurate information and well-constructed processes. At Lucro Commercial Solutions, we can help you automate the forgiveness application process and keep you up to date as the SBA releases further guidance. We’ll even provide a tool to help you calculate your borrower’s forgiveness amount. If your credit union would like to quickly set up a custom, software-free, online business loan portal to assist with automating and centralizing the collection of applications and documents visit www.Lucro.org/DBLC to learn more or contact Heather Bosenko at [email protected]last_img read more

Towers Watson appoints new head of global investments business

first_imgChris Ford (pictured), Towers Watson’s head of investments for the EMEA region, has been promoted to oversee the company’s global investment business.Ford, who has been at the firm for more than 20 years and took over the EMEA investments business in 2010, will replace Carl Hess, who is to become managing director for the Americas.Hess, who was appointed global head of investments in 2008, also joins the consultancy’s executive committee.Roger Urwin will remain as global head of investment content. Towers Watson said a decision on who would head its EMEA investment business had not yet been taken, and that the process of appointing a successor to Ford would begin shortly.He is to take on his new role with immediate effect, the company said.Hess replaces Jim Foreman as managing director of the Americas – Foreman will now lead the company’s expanded exchange solutions business.Ford was appointed head of the EMEA in November 2010 after a range of positions, and quick promotions, across Towers Watson.This included heading up the New York investment practice in 2000, after 10 years with the firm.He then became responsible for the investment strategy team in 2004, back in the UK, and joined the EMEA executive committee and the global practice management team in 2007 and 2008, respectively.Ford oversaw the separation of Towers Watson’s investment advisory arm and its fiduciary management business in 2011.On the announcement of Ford’s promotion, managing director of risk and financial services Tricia Guinn described him as an extremely talented individual well placed to succeed Hess.“Chris has proven himself to be very capable – both strategically and operationally – at propelling the business forward and delivering strong growth and excellent results for our clients,” she said.last_img read more