CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT
Matador Resources | January 25, 2023
On January 24, 2023, Matador Resources Company announced that a fully-owned subsidiary of Matador had signed a definitive agreement for the acquisition of Advance Energy Partners Holdings, LLC, which includes oil and natural gas producing properties and undeveloped land in New Mexico, Lea County, and Ward County, Texas.
The consideration for the Advance Transaction will include an initial cash payment of $1.6 billion, depending on customary closing adjustments, as well as additional cash consideration of $7.5 million for every month in 2023, during which the average oil price exceeds $85 per barrel, as stated in the securities purchase agreement. Advance is an EnCap Investments L.P. portfolio company.
The Advance Transaction has an effective date of January 1, 2023, and is anticipated to close in the Q2 of 2023, based on customary closing conditions. On January 24, 2023, at 10:00 am Central Time, Matador's management held a live conference call to review the Advance Transaction.
Matador estimates the entire proved oil and natural gas reserves linked with these properties to be approximately 106,4 million BOE (73 percent oil) as of December 31, 2022. PV-102 of the proved natural gas and oil reserves of these properties as of December 31, 2022, was roughly $2.86 billion based on the same unweighted arithmetic average first-day-of-the-month prices for the prior year that was used to value the Company's reserves as of December 31, 2022, valued at $6.36 per MMBtu of natural gas and $90.15 per barrel of oil.
Matador anticipates that the continued development of these properties will increase future proven reserves and reserves value. Sewell & Associates, Inc., independent reservoir engineers from the Netherlands, conducted an audit of the reserve estimates prepared by Matador's engineering staff.
AboutMatador Resources Company
Matador Resources Company is a publicly traded, independent energy company headquartered in Dallas that focuses on shale plays and other unconventional plays in its development, production, exploration, and acquisition of natural gas and oil resources in the U.S. The company has a dedicated team of technical and administrative professionals, as well as a culture of high performance and fiscal discipline. It was founded as a privately held company in July 2003, attracting equity capital from several hundred investors, many of whom were shareholders in Matador Petroleum Corporation, its predecessor.
CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH
Albemarle | January 09, 2023
Albemarle Corporation, a pioneer in the leading global chemicals industry, announced that it had acquired a site in Charlotte, North Carolina, U.S., to build the Albemarle Technology Park. The company will invest at least 180 million dollars in constructing a world-class facility to boost novel materials research and advanced process development and accelerate the introduction of next-generation lithium products to the market.
According to Kent Masters, the CEO of Albemarle, "Albemarle Technology Park is part of our mine-to-market innovation strategy to invest in the U.S. EV battery supply chain and to be a leader in advanced lithium materials for next-generation energy storage. This facility will focus and accelerate our lithium technology leadership, better enabling the world's transition to more sustainable energy." (Source: prnewswire.com).
The company believes that breakthroughs from the new facility will improve lithium recovery, optimize production methods, and discover new forms of lithium that will enable battery performance improvements.
The State of North Carolina awarded nearly $13 million as an incentive package to Albemarle for developing an advanced product innovation, process development, and lithium materials research facility in Mecklenburg County. As a part of the Job Development Investment Grant (JDIG), this incentive package will support a portion of Albemarle's investment to redevelop the former IBM and Flextronics facility. The company anticipates creating over 200 jobs on-site, with an average annual salary of $94,000. Specifically, the team aims to triple the Ph.D. holding professionals in Albemarle Technology Park.
The vision for Albemarle Technology Park (ATP) covers novel lithium materials, manufacturing processes, and the commercialization of new products in close collaboration with strategic customers. The company expects ATP to become a lithium innovation hub that establishes technology leadership in the fast-expanding EV industry in the Southeast U.S. through co-locating essential operations and collaborations.
The organization predicts that the improved process technologies developed at the ATP will promote sustainability by decreasing energy and water consumption, unlocking new lithium resources, and enabling lithium recovery at end-of-life through economic recycling. Albemarle anticipates initial occupancy of ATP by early 2025 and a complete ATP campus by late 2026.
About Albemarle Corporation
Albemarle is a frontrunner in lithium, bromine, and catalysts. The company aims to think beyond the norm to unlock the potential of companies in critical industries such as transportation, energy, and electronics. With highly talented and knowledgeable international teams, deeply rooted values, and a collaborative customer relationship approach, Albemarle is developing performance-based solutions that enable a safer and more sustainable future.
PRODUCTS AND TECHNOLOGIES, RAW MATERIALS
The Chemours Company | January 27, 2023
The Chemours Company, a chemistry company with market-leading positions in Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials, announced the introduction of Ti-PureTM TS-1510, a highly efficient rutile titanium dioxide (TiO2) pigment designed to improve processing performance in various plastics applications, including polyolefin masterbatch.
The increased processing performance of this grade offers up to a 6%* reduction in the net carbon footprint of the advanced pigment manufacturing process through masterbatch production, compared to conventional TiO2 pigments, while simultaneously increasing profits. Ti-PureTM TS-1510 is the most recent pigment launch under the company's Ti-PureTM Sustainability (TS) line, a new product family highlighting Chemours' dedication to furthering societal, consumer, and business segment sustainability goals.
Ti-PureTM TS-1510 was created to overcome customer difficulties and enhance their production rate and processing capabilities. Chemours developed a revolutionary technology to create this pigment with increased material bulk density in order to address these difficulties while simultaneously increasing profits and masterbatch processability.
The higher level of processing efficiency provided by Ti-PureTM TS-1510 will enable Chemours' direct and downstream customers to decrease their individual environmental footprints and enhance the plastics industry's sustainability. Ti-PureTM TS-1510 offers energy and labor efficiencies for masterbatch producers, resulting in a smaller carbon footprint than conventional TiO2 pigment. In addition, Chemours delivers Ti-PureTM TS-1510 in recyclable or reusable packaging to further increase the product's sustainability.
Cherie Stancik, Product Development Manager, Plastics Segment – Titanium Technologies at Chemours, said, “At Chemours, our customers’ needs drive our approach to innovation. The introduction of Ti-Pure™ TS-1510 reflects our commitment to developing new products that advance the state of the industries we serve.”
(Source – Business Wire)
About The Chemours Company
Located in Wilmington, Delaware, The Chemours Company is a world leader in Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials, offering its customers solutions for a diverse range of industries through market-defining products, application experience, and chemistry-based innovations.
The company provides tailored solutions with a broad selection of industrial and specialty chemicals for applications such as plastics, coatings, refrigeration and air conditioning, semiconductor, transportation, consumer electronics, general industrial, and others. Its main products are marketed under well-known brand names, including NafionTM, OpteonTM, FreonTM, Ti-PureTM, TeflonTM, VitonTM, and KrytoxTM. The company has over 6,400 employees and 29 manufacturing locations, which serve approximately 3,200 clients in approximately 120 countries.