CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH
Albemarle | February 01, 2023
Albemarle Corporation, a global leader in the specialty chemicals industry, recently announced the official brand launch of its wholly-owned subsidiary Ketjen. Ketjen develops advanced catalyst solutions for specialty chemicals, refining, and petrochemical industries.
After declaring plans to manage the business as a subsidiary, the corporation revealed the new name of its catalysts division in November 2022. As an individual brand, Ketjen will continue to help customers on their individual energy transition journeys, ranging from fluidized catalytic cracking to hydro-processing to clean fuels to organometallics and curatives.
Raphael Crawford, President at Ketjen, said, "As the industry responds to global market dynamics, our customers need innovative solutions to help them navigate their changing landscapes." He also added, "Ketjen will continue to provide its portfolio of advanced catalyst and specialty chemicals solutions, which are unique to each customer's needs, to increase production performance and business value."
(Source – Cision PR Newswire)
Ketjen is a multi-divisional company headquartered in Houston, Texas, that provides Fluidized Catalytic Cracking (FCC), Clean Fuels and Performance Catalyst & Curative and Hydroprocessing Catalysts (HPC) Solutions to customers in the petrochemical, refining, and specialty chemical industries (PCS). Operations at Ketjen will be managed by Albemarle's existing advanced catalyst solutions division.
Kent Masters, CEO at Albemarle, "The launch of Ketjen continues our legacy as a partner-of-choice for industry leaders." He further mentioned, "Establishing Ketjen under this separate structure will allow the business even greater focus and continued development of custom, high-impact catalyst products."
(Source – Cision PR Newswire)
The team of experienced professionals at Ketjen takes a versatile, hands-on approach to customer operations, advising and leading on crucial tasks. Ketjen will be the market leader in advanced catalyst solutions thanks to its extensive involvement in the sector and its continuing long-term partnerships with big enterprises.
Albemarle Corporation is a worldwide specialty chemicals corporation that thinks outside of the box to help companies in many of the world's biggest and most important industries, such as energy, transportation, and electronics, reach their full potential. The company works hard to find a way to manage its diverse geographic reach of world-class resources in a way that is sustainable.
Together with its highly skilled and experienced global teams, deep-rooted values, and close relationships with the customers, Albemarle creates solutions with added value and better performance that make the future safer and more sustainable.
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 MANAGEMENT, PRODUCTS AND TECHNOLOGIES
Origin Materials | January 30, 2023
Origin Materials, Inc., the leading global carbon-negative materials firm with a mission to accelerate the global transition to sustainable materials, announced the mechanical completion of Origin 1, the firm's first commercial manufacturing plant, following the previously disclosed schedule.
Critical mechanical systems were successfully installed, and commissioning has commenced as part of mechanical completion. Work will continue on-site, including electrical work, the addition of new equipment, and the refinement of technology.
Following this significant accomplishment, work will continue at the facility, with plant commissioning to support the startup scheduled to be completed by the end of the first quarter of 2023 and the startup commencing soon after. Origin 1 is anticipated to address the increasing customer demand for the company's renewable materials and enable clients to qualify products and applications beyond PET. On its next earnings call, the company aims to release forecasts for sales, EBITDA, and other financial measures for 2023.
About Origin Materials
Origin Materials, headquartered in West Sacramento, is one of the world's foremost carbon-negative materials firms. The mission of Origin is to facilitate the global transition to sustainable resources. The firm has spent more than a decade developing a platform for converting the carbon present in affordable, abundant, non-food biomass such as sustainable wood wastes into valuable commodities while simultaneously absorbing carbon. Its unique technology platform has the potential to change the manufacture of a vast array of end goods, including clothes, textiles, plastics, packaging, auto components, carpets, and toys, with an addressable market of about $1 trillion. Additionally, the company's technological platform is anticipated to deliver consistent pricing substantially decoupled from the petroleum supply chain, which is more volatile than supply networks based on sustainable wood wastes. The patent-protected drop-in core technology, economics, and carbon effect of Origin are backed by an expanding number of worldwide investors and customers.