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Pacific Coast Oil Trust Announces December Cash Distribution

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PACIFIC COAST OIL TRUST (NYSE:ROYT) (the Trust), a royalty trust formed by Pacific Coast Energy Company LP (PCEC), announced today a cash distribution to the holders of its units of beneficial interest of $0.04097 per unit, payable on December 24, 2018 to unitholders of record on December 10, 2018. The Trusts distribution calculation relates to net profits and overriding royalties generated during October 2018 as provided in the conveyance of net profits and overriding royalty interest. All information in this press release has been provided to the Trustee by PCEC.

The current months calculation for the Developed Properties resulted in $2.0 million of revenues less direct operating expenses and development costs. The current months revenues were $5.1 million, lease operating expenses including property taxes were $2.6 million and capital expenditures were $0.4 million. Average realized prices for the Developed Properties were $75.08 per Boe in October, as compared to $72.86 per Boe in September. Net profits for the month of October for the Developed Properties were $1.6 million.

The current months calculation included approximately $89,000 for the 7.5% overriding royalty interest on the Remaining Properties from Orcutt Diatomite and Orcutt Field. Average realized prices for the Remaining Properties were $71.79 per Boe in October, as compared to $69.54 per Boe in September. The cumulative net profits deficit for the Remaining Properties, including the 7.5% overriding royalty interest payments, decreased by approximately $16,000 and now totals $1.5 million as of October 2018.

The net cash flow available for distribution to the holders of units of beneficial interest is approximately $1.6 million. The proceeds expected to be received by the Trust in December of $1.7 million consist of $1.6 million in income from the Developed Properties and approximately $89,000 in income from the 7.5% overriding royalty interest on the Remaining Properties. The proceeds to be received by the Trust will be partially offset by $91,000 for the monthly operating and services fee payable to PCEC and approximately $45,000 in Trust general and administrative expenses, resulting in the net cash flow available for distribution of approximately $1.6 million.

The Trustee periodically engages an independent oil and gas consulting firm to perform a detailed review of the computation of the amounts paid to the Trust. The consulting firm has concluded its review of payments relating to the Trust Year 2016, the Trustee and PCEC have concluded their reviews and discussions of the findings, and the resulting adjustments have been included in the current months calculation. The adjustments increased the amount payable to the Trust from the Developed Properties by approximately $54,000 and decreased the cumulative net profits deficit from the Remaining Properties by approximately $2,000.

Sales Volumes and Prices

The following table displays PCECs underlying sales volumes and average prices for the month of October 2018:

   
Underlying Properties
Sales Volumes     Average Price
(Boe)     (Boe/day) (per Boe)
Developed Properties (a) 67,860 2,189 $75.08
Remaining Properties (b) 17,315 559 $71.79
 
(a) Crude oil sales represented 98% of sales volumes
(b) Crude oil sales represented 100% of sales volumes
 

2018 Operating and Financial Sensitivity Analysis

Year-to-date 2018 (through the October 2018 production month) Developed Properties production has been approximately 270 boe/d under the 2018 guidance range provided in February 2018, primarily due to lower-than-expected performance from the Los Angeles Basin. West Pico production has been approximately 150 boe/d below expected levels due to gas export restrictions and significant shut-in wells requiring workovers (as disclosed in the Trusts previous filings with the Securities and Exchange Commission (the SEC)). West Pico production has improved since October and is expected to approach the levels generally experienced prior to the gas export shutdown. East Coyote and Sawtelle production has been approximately 45 boe/d below expected levels due to the temporary shutdown of wells from sanding and well failures as well as injection constraints at both fields (as disclosed in the Trusts previous filings with the SEC). The remaining shortfall of approximately 75 boe/d is due to lower-than-expected production from Orcutt Diatomite cyclic steam operations, partially offset by higher-than-expected production from Orcutt Conventional. PCEC expects to provide guidance for 2019 early next year.

Overview of Trust Structure

Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the Underlying Properties). The Underlying Properties and the Trusts net profits and royalty interests are described in the Trusts filings with the SEC. As described in the Trusts filings with the SEC, the amount of any periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, development expenses, and the amount and timing of the Trusts administrative expenses, among other factors. For additional information on the Trust, please visit www.pacificcoastoiltrust.com.

Cautionary Statement Regarding Forward-Looking Information

This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include PCECs estimates regarding its 2018 capital program and the amount and date of any anticipated distribution to unitholders. Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will be significantly and negatively affected by prevailing low commodity prices, which have declined significantly, could decline further and could remain low for an extended period of time. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither PCEC nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on March 9, 2018, and if applicable, the Trusts subsequent Quarterly Reports on Form 10-Q. The Trust’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q are available over the Internet at the SEC’s website at https://www.sec.gov.

Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company,
N.A., as Trustee
Sarah Newell
1(512) 236-6555

News

The LYCRA Company to Showcase Latest Technologies at Intertextile Shanghai

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The LYCRA Company, a global leader in developing innovative fiber and technology solutions for the apparel industry, will exhibit its latest products designed to meet consumer needs at Intertextile Shanghai, which takes place on September 23-25. Themed RENEW, REDEFINE, REINFORCE, the presence at the show will allow visitors to learn about the new LYCRA Anti-Slip fiber technology. Other well-received technologies such as LYCRA FitSense„¢ technology, LYCRA MyFit„¢ fiber and COOLMAX freshFX technology will also be showcased.

Every industry is facing unprecedented challenges this year and the apparel industry is no exception, said Julien Born, President, Apparel, The LYCRA Company. We have been pleased to see that, despite market uncertainties, there is still a strong appetite for innovation as brands look to keep an edge and offer better value to consumers. Innovation has always been in The LYCRA Companys DNA, which we believe is key to address the increasing demands for functional and sustainable apparels globally.

Asia is set to be the key driver for The LYCRA Companys global growth, said Steve Stewart, Apparel Vice President, Asia, The LYCRA Company. As such, we will continue our innovation journey by launching new technologies, such as the ones we are showcasing at Intertextile. Only by working closely with our partners and customers can we empower our customers to gain a winning edge and fully capture the opportunities offered by a new global economy.

A New Innovation Frontier

LYCRA Anti-Slip fiber is an exceptional denim seam slippage solution for applications in single core spandex fabrics that require durable stretch and good recovery power. Designed to help prevent seam slippage and improve garment quality and yield, this patent pending fiber helps maintain garment appearance wash after wash and wear after wear. It is a versatile fiber that makes possible for a multitude of fabric developments and constructions, including open structures and use of polyester/viscose blends, and cotton blends achieving a soft touch and authentic appearance.

By using LYCRA Anti-Slip fiber in the core of LYCRA dualFX technology yarn, the anti-slippage performance will be further enhanced. It is based on several patented technologies from The LYCRA Company related to both dual core and bi-component yarns. By combining LYCRA Anti-Slip fiber and LYCRA T400 fiber together in one fabric, the key benefit is the high stretch of LYCRA fiber with exceptional slippage solution plus the excellent recovery power of LYCRA T400 fiber. This means that consumers can have super stretch jeans that last longer and keep its fit and shape. Consumers will look good all day, every day.

The Power of The Science of Fit„¢

LYCRA FitSense„¢ technology is a patented, water-based dispersion that features the same molecules as LYCRA fiber, but in liquid form. This revolutionary innovation is screen printed onto fabric containing LYCRA fiber to provide lightweight, targeted support across a range of garment types. This solution also helps streamline garment manufacturing through the potential elimination of double-layers and extra seams and offers unlimited design possibilities for brands and retailers.

LYCRA MyFit„¢ fiber is a patent-pending, fiber technology engineered with a polymer designed to deliver improved comfort and fit. The result is greater shape tolerance and a customized fit experience for a differing range of body shapes. Ultimately, it gives brands and retailers the potential to higher customer satisfaction, minimize returns, reduce SKUs and costs by undercutting patterns.

LYCRA FitSense„¢ technology and LYCRA MyFit„¢ fiber have been well received by both international and domestic brands since their launch to the market. The two innovations now find wide applications in various apparel categories from underwear and activewear to seamless garments as well as swimwear.

Anti-Odor Fiber for 24/7 Freshness

COOLMAX freshFXtechnology actively suppresses the growth of bacteria which are the root cause of body odor and related smells and therefore is perfectly adapted for applications such as sportswear and underwear to offer freshness. The active ingredient in COOLMAX freshFX qualifying fibers is a durable, non-migratory silver-based antimicrobial additive. The active ingredient is spun directly into the yarn, rather than being topically applied, and an inorganic cage matrix protects it. Therefore, it can be expected to remain effective for the life of the garment even after repeated laundering.

The Legwear Stars

LYCRA FUSION„¢ technology helps make hosiery resistant to runs, which can improve the wear life of the garment. LYCRA SOFT COMFORT technology imparts a soft and comfortable stretch to sock tops and knee-high tops. The technology is based on soft-stretch LYCRA fibers that combine high elongation with low hysteresis. This makes garments easy to don but with a firm and secure fit.

The beginning of 2020 may have taken us by surprise, yet I am excited to see the speedy recovery across Asia-Pacific, particularly in China, said Jack Yang, R&D Director, The LYCRA Company. Technology and innovation are now the oxygen of every business. With our legacy and profound understanding of the apparel and textile industry, we are excited to work with our partners in China to bring more consumer-centric innovation to the world.

To bring to life The LYCRA Companys newest innovations at Intertextile, the technologies will be introduced via multimedia channels such as LED videos and augmented reality technology. Sample fabrics and garments experience will be available at the booth for further engagement. There is also a bottle calculator for visitors to understand how many plastic bottles are being put into use again in a garment by providing fabric weight and EcoMade fiber content. To learn more about the latest developments of The LYCRA Company, visit Intertextile booth H4.1-E56.

In addition to the physical booth, The LYCRA Company also offers a virtual tour and daily highlights on connect.lycra.com/intertextile2020. Check out the site to learn more about our technologies and to hear our customers stories.

For show information, visit Intertextile.com.

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries, as well as specialty chemicals used in the spandex and polyurethane value chains. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its innovative products, technical expertise, and unmatched marketing support. The LYCRA Company owns leading consumer and trade brands: LYCRA, LYCRA HyFit, LYCRA T400, L by LYCRA, COOLMAX, THERMOLITE, ELASPAN, SUPPLEX and TACTEL. While The LYCRA Companys name is new, its legacy stretches back to 1958 with the invention of the original spandex yarn, LYCRA fiber. Today, The LYCRA Company is focused on adding value to its customers products by developing unique innovations designed to meet the consumers need for comfort and lasting performance. For more information, visit www.thelycracompany.com.

LYCRA FitSense„¢, LYCRA MyFit„¢, LYCRA dualFX and COOLMAX freshFX are all trademarks of The LYCRA Company.

Kristin Altimari

[email protected]

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Catalyst Regeneration Market 2020 – 2024: Post-Pandemic Industry Planning Structure | Technavio

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The catalyst regeneration market is expected to grow by USD 1.18 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the catalyst regeneration market in optimistic, probable, and pessimistic forecast scenarios.

The catalyst regeneration market will witness neutral and at par impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavios pandemic-focused market research, market growth is likely to Increase as compared to 2019.

Enterprises will go through Respond, Recover and Renew phases. Download free report sample

As the COVID-19 pandemic continues to spread, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.
  • Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
  • Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure. Click here

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

Gain instant access to 17,000+ market research reports by using

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Major Three Catalyst Regeneration Market Participants:

Nippon Ketjen Co. Ltd.

Nippon Ketjen Co. Ltd. operates its business under products & services segments. The company offers a wide range of catalyst regeneration products and services such as hydroprocessing catalysts, off-site regeneration/rejuvination service, collaborative work. The products include guard grades, hydrotreatment of naphtha, kerosene, and diesel, hydrotreatment of VGO, and hydrotreatment of residue.

Porocel

Porocel operates its business under products and catalyst services segments. The company offers a wide range of catalyst regeneration products and services such as activated alumina, catalyst substrates and powders, activated bauxite, rejuvenation catalyst services, presulfurization, FCC catalyst services, and others.

STEAG GmbH

STEAG GmbH has business operations under services segments. The company offers a wide range of catalyst regeneration services such as NOx emission control, combustion optimization, SO emissions, mercury emissions, and others.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ catalyst regeneration market-industry-analysis

Catalyst Regeneration Market 2020-2024: Segmentation

Catalyst Regeneration is segmented as below:

  • Type
    • Off-site
    • On-site
  • Geography
    • North America
    • Europe
    • APAC
    • MEA
    • South America

The catalyst regeneration market is driven by the increasing practice of catalyst shifting. In addition, other factors such as the adoption of process optimization by refineries to reduce costs are expected to trigger catalyst regeneration market toward witnessing a CAGR of over 4% during the forecast period.

Get more insights about the global trends impacting the future of catalyst regeneration market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45153

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

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Visible Supply Chain Management Executive Emma Leonard Named 2020 Women in Supply Chain Award Winner by Supply & Demand Chain Executive

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Acknowledging her accomplishments, leadership and best-practice example for women leaders in supply chain, Emma Leonard, executive vice president at Visible Supply Chain Management (Visible), has been recognized as a 2020 Women in Supply Chain award winner by Supply & Demand Chain Executive.

The Women in Supply Chain award honors female supply chain leaders and executives whose accomplishments, mentorship and examples set a foundation for women in all levels of a companys supply chain network.

Emmas efforts have played a major role in Visibles ability to provide a ‘best in class’ customer experience and has added tremendous value to our clients, said Casey Adams, president of Visible. She has exhibited strong leadership abilities by building and managing a cross-functional team of transportation professionals, analysts and managers. This award is well deserved.

In an industry in which female executives are relatively uncommon, the excellence Emma displays each day is an unassailable argument for the increased need for women leadership in supply chain. She is a shining example for all mentoring her peers by organizing and facilitating local networking events. In addition, Emma is actively involved in AWESOME (Achieving Womens Excellence in Supply Chain Operations, Management and Education).

Because of women like Emma, 17% of chief supply chain officers are now women a 6% increase compared to 2019, according to Gartners 2020 Women in Supply Chain Survey.

Supply & Demand Chain Executive celebrates its 20th anniversary by introducing the new award designed specifically for women leaders in the supply chain industry.

We received over 200 entries for the new Women in Supply Chain award, entries that were submitted from a combination of men and women. This proves that our industry needed an award like this, said Marina Mayer, editor-in-chief of Supply & Demand Chain Executive and Food Logistics. Congratulations to these top female leaders. I look forward to seeing how they grow the supply chain industry.

Check out Supply & Demand Chain Executives website at www.sdcexec.com for the full list of the 2020 Women in Supply Chain winners. The 2020 Women in Supply Chain award will appear in SDCEs September issue.

About Visible Supply Chain Management (Visible)

Since 1992, Visible Supply Chain Management has provided customized solutions for B2B and B2C organizations. With comprehensive services in e-commerce, direct sales, direct response and omnichannel, Visible can design effective strategies for clients that include transportation, logistics, brokerage, fulfillment and even custom packaging solutions.

About Supply & Demand Chain Executive

Supply & Demand Chain Executive is the executive’s user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage. Go to www.SDCExec.com.

Shannon Michael, SnappConner PR

801.205.6714

[email protected]

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