Neptune pushes back several project start-up dates despite ‘strong quarter’

first_imgAccording to the company, there has been a limited impact from COVID-19 on operations. However, disruption to the global supply chain has slowed down some project activities. Together with hedging gains, the reduction in operating cash flow is fully mitigated in 2020 by Neptune’s resilience plan and lower expected taxes. The company fully expects to achieve positive free cash flow for the year. Project starts and drilling pushed back “Our project pipeline represents the main area of immediate cost reductions. In addition to the impact of COVID-19 on some of our schedules, we have elected to slow the pace of investment on certain other projects, which will smooth investment across 2020-22”, the report stated. Even though this will result in first production from several projects being pushed back, the overall impact on production is limited, with reduced growth in forecasted company production in 2021 and 2022. Since March 2020, commodity prices moved sharply lower. Neptune stated that, even though it had a high hedge ratio, particularly on gas, earnings and operating cash flows in the near-term were likely to be lower than reported in the first quarter. In its report on Wednesday, Neptune Energy posted 1Q 2020 revenue of $479.7 million, a decrease when compared to the $621.1 million in the same period last year. Due to its strong operating performance and the delivery of the resilience plan, the company expects operating costs to average less than $10/boe for the full year. “We have taken decisive action across the business to increase liquidity and reduce cost while preserving long-term value. We continue to review our business to identify opportunities to reduce operating expenditure further and focus on value over volume. Jim House, CEO of Neptune, said: “Despite the challenges posed by the COVID-19 pandemic, Neptune’s operational performance in the first quarter of the year was strong. Our resilience plan and hedging activity mitigated weaker commodity prices, resulting in a robust financial performance. The development capex guidance for the year is also reduced to $700-800 million and the exploration spend is expected to be around $125 million. “The second quarter of the year is likely to be more challenging and we expect production to be lower, reflecting planned maintenance and development-related shutdowns and weaker commodity prices”. The company’s profit before taxes for the quarter amounted to $118.4 million compared to a profit of $206.6 million in 1Q2019. As previously guided, the Merakes field is expected onstream in mid-2021. The P1 Gjøa project is largely unaffected. Profit & revenues down center_img The company’s full-year production guidance remains unchanged at 145-160 kboepd and includes the expected impact of mandatory production cuts imposed in Norway, the withdrawal from the Energean transaction, and a focus on value over volume. Despite the challenges of COVID-19 and weaker commodity prices, Neptune Energy had a strong first quarter but still decided to push back several project start dates to smoothen investments through 2020-2022. Neptune’s net profit totalled $47 million in the first quarter of 2020 versus a $52.7 profit in the same quarter in 2019. Since the end of the quarter, the Touat plant in Algeria reached plateau capacity and project handover is being finalised. First production from the Njord and Duva projects is now expected to occur in the second half of 2021, with Fenja due onstream in early 2022. Start of oil production from the Seagull project is likely to be deferred until late 2022. After a strong start to 2020, Neptune expects production to be lower in the second quarter reflecting planned maintenance and development related shutdowns, partially offset by higher production at Touat and the Netherlands. The company also opted to defer several wells into 2021 and the only two wells remaining in 2020 are the Sillimanite South and Dugong exploration wells. Neptune said in its first quarter report on Wednesday that its production for the period averaged 162.1 kboepd, above its full-year guidance range. While the weakness in commodity prices is a significant challenge for the oil and gas industry, Neptune stated that it was well-positioned, with significant available liquidity, low operating costs and high levels of hedging. To protect its balance sheet, Neptune previously announced cost reduction measures of $300-400 million for 2020 across operating costs, G&A, and capex. To remind, Neptune recently terminated the agreement to acquire Edison E&P’s UK and Norwegian subsidiaries from Energean to enhance near-term liquidity by around $460 million and focus on its project pipeline. Lower output ahead last_img read more

Why It’s Probably Not A Coincidence That The Mother Transing Her 7-Year-Old Isn’t Biologically Related

first_imgThe Federalist 24 October 2019Family First Comment: This is a fascinating read..“You’ve undoubtably heard about the terrible custody battle where mom wants 7-year-old James Younger to “transition” to become a girl, while dad wants to protect him from chemical and surgical castration. Here’s a crazy twist: James was born via egg donation. Beyond the “tale of two households” that set up this court battle, and the ideological madness on display in the proceedings, something else about this case deserves our attention: one of the two parents engaged in this custodial tug-of-war isn’t biologically related to little James. Care to guess which one? Do you think it’s the parent who wants to keep him physically whole? It’s not. Is it any surprise that a woman who expected her child to conform to the family she wanted despite injury to his natural rights also believes that his sex should conform to her ideological bent, despite injury to his natural body? Both stem from the same mentality: “This child exists for my fulfillment.”James’s non-biological parent’s willingness to risk her child’s long-term health struggle contrasts sharply with his biological parent’s desire to protect him.The story of seven-year-old James, whom his mother has pressured to become “Luna,” has been all over my newsfeed. The messy custody battle deserves every second of our click-bait-prone attention: Jeffrey Younger, James’s father, wants to keep his son’s body intact, while Anne Georgulas, James’s mother, wants to allow for “treatment” that would physically and chemically castrate him.The havoc that divorce wreaks in a child’s life is mainstage in this tragic case. Most of us children of divorce quickly learn to act one way with mom and another way with dad. We can switch to a different set of rules, diet, family members, bedtime, screen time limits, and political convictions in that 20-minute ride from mom’s house to dad’s.Unfortunately for little James, the adaptation he had to make went far beyond meat-lover’s pizza at dad’s house and cauliflower crusts at mom’s: it meant losing one of the most sacred aspects of his identity—his maleness. His dad loved him as a boy, so he got to be himself when he was at dad’s house. But mom showered love on the version of James she preferred, the one with the imaginary vagina.So, as kids are so apt to do, when James was at her house, he conformed to the person his mother loved. This week a jury ruled that James must live like he’s at mom’s permanently, where he can “transition” fully, regardless of the cost to his mental and physical health.The drugs used in these so-called transgender “treatments” are off-label and largely untested on children. Puberty blockers and cross-sex hormones have significant long-term health risks and are often followed by the amputation of healthy, fully-functioning organs. The worst part? It’s entirely unnecessary.READ MORE: https://thefederalist.com/2019/10/24/why-its-probably-not-a-coincidence-that-the-mother-transing-her-7-year-old-isnt-biologically-related/Keep up with family issues in NZ. Receive our weekly emails direct to your Inbox.last_img read more

Survey: Diagnoses Of Cancer, Asthma, Diabetes Rising

first_imgCINCINNATI, Oh. — Numbers of Tri-State residents who have ever been told they have asthma, diabetes, and cancer are rising, according to a newly released Greater Cincinnati Community Health Status Survey.Reported diagnoses of asthma rose 15 to 17 percent, diabetes increased from 11 to 13 percent, and cancer went up from 6 to 8 percent since the last survey in 2010.In Southeast Indiana, results were similar and showed little change since the last survey.“Having a chronic illness can be a heavy burden for an individual and a household,” says Francie Wolgin, Senior Program Officer, Protecting the Healthcare Safety Net, for Interact for Health. Interact for Health sponsors the CHSS. “This toll may be physical, emotional and financial, affecting many aspects of a person’s life.”Other slight increases were seen in rates of depression, severe allergies, and chronic lung disease. On the other hand, the rate of people being told they had high cholesterol/triglycerides continued a downward trend, from 29 percent in 2005 to 27 percent in 2013.last_img read more

25th annual Kupper Chevrolet Dakota Classic Tour dates announced

first_imgMANDAN, N.D. – The 25th annual Kupper Chevrolet Dakota Classic Tour dates and locations have been announced for 2014. IMCA Xtreme Motor Sports Modifieds and IMCA Sunoco Stock Cars will be on the program at all six tracks during the July 6-11 tour in North Dakota and Saskatchewan. Another record pay­out is in the works, with each Modified feature winner earning $1,700 and each Stock Car winner pocketing $800.Modified features are 2014 Fast Shafts All-Star Invitational ballot qualifying events. Home region points will be awarded in both divisions.Nodak Speedway will host the tour opener on Sunday, July 6. On Monday, July 7, the tour heads north of the border to Estevan Motor Speedway. Williston Basin Speedway will host night three of the tour on Tuesday, July 8.On Wednesday, July 9, the series heads to Southwest Speedway in Dickinson. Dacotah Speed­way in Mandan has the Thursday, July 10 date. The tour wraps up Friday, July 11 at Jamestown Speedway.Minot and Mandan were both on the inaugural tour schedule in 1990.IMCA rules and procedures will be utilized again at each track, with the same payouts and registra­tion fees in place as well. Dale McEwen returns to flag the entire tour.“With new IMCA Modified sanctions in North Dakota, Montana and western Minnesota in 2014, we expect to attract even more cars and fans,” said tour founder and director John Gartner.“Despite multiple requests to expand the tour into neighboring states, officials from the tracks that make up the tour decided to keep the traditional locations with some changing of dates to work around the North Dakota State Fair and Stutsman County Fair,” he added. Gartner will also promote the Jamestown tour event. He can be contacted at 701 202-6075 for more information. Feature winners in both divisions will receive large presentation checks at all six tracks. Title sponsor Kupper Chevrolet of Mandan provides the $2,000 Modified and $1,000 Stock Car point funds to be paid to the top 10 drivers in respective tour point standings.last_img read more

Indian Premier League Hardik Pandya has become better cricketer after spending time away: Krunal Pandya

first_img For all the Latest Sports News News, Indian Premier League News, Download News Nation Android and iOS Mobile Apps. Hardik Pandya and Krunal Pandya blasted 50 runs in the last three overs.Mumbai Indians defeated Delhi Capitals for the first time after three games.Mumbai Indians are second in the points table behind Chennai Super Kings. New Delhi: Hardik Pandya’s career was in the crossroads at the start of the year. He had appeared on the show Koffee With Karan hosted by popular Bollywood director Karan Johar and his comments on the show were labeled ‘sexist’, ‘misogynistic’ and ‘racist’. Hardik was suspended for the Australia tour and an Ombudsman was appointed to look into Hardik’s comments. His suspension was lifted by the BCCI and a clean chit is expected from the Ombudsman. Hardik made a mark in the series in New Zealand but in the 2019 Indian Premier League, he has been in magnificent form. Hardik has chipped in with some crucial knocks at the end, including a blazing 25 against Chennai Super Kings and a crucial 32 off 15 balls against Delhi Capitals.The efforts by Hardik with both bat and ball in the game against Chennai Super Kings won him the Man of the Match award and he received yet another award for his game-changing 32 off 15 balls against Delhi Capitals. Speaking in the post-match press conference, Hardik’s brother Krunal Pandya heaped praise on his brother and said the time he spent away from the game helped him immensely. “When he was away from the game due to injury and the other reasons (controversy), he worked a lot on his fitness. We started playing the game together and one thing that I can say that cricket has always been his priority. Honestly, there are very few players who have a work ethic like him. His goal is always to improve and if you do that, you become consistent,” Krunal Pandya said.Krunal said that Hardik is adding a new dimension to his game every year and that he is also learning from him. “Earlier he used to smash spinners, now he is also doing the same to pacers. He worked on that area during the off time he got and he has gotten the desired results. What like I most about is never giving up attitude. Every year, he is adding something or the other to his game. In fact, I have also learned a lot from him,” Krunal said.The left-handed Krunal and Hardik blasted 50 runs in the final three overs against Delhi Capitals and the all-rounder acknowledged the assault was the key. “I guess while batting it was a very tricky wicket. When I went inside and when Hardik came in we were not aiming for 170, we thought 145 was a good total on this wicket. The way Hardik batted, it changed the momentum for us and we ended up with those extra runs. While bowling we knew how the wicket would behave and our bowlers knew to how to bowl on it,” Hardik said. highlightslast_img read more

Bradley meets Valpo in MVC finals

first_img Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditValparaiso (19-15, 12-9) vs. Bradley (22-11, 13-7)Missouri Valley Conference Tourney Championship, Enterprise Center, St. Louis; Sunday, 1:05 p.m. EDTBOTTOM LINE: Valparaiso is set to face off against Bradley in the Championship of the MVC tournament. The teams split the regular season series at one win apiece. The teams last played on Feb. 22, when the Crusaders outshot Bradley from the field 55.6 percent to 43.5 percent and hit eight more 3-pointers en route to a 12-point victory. March 8, 2020 Bradley meets Valpo in MVC finalscenter_img ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com PLENTY OF EXPERIENCE: Senior leadership has been on display for both of these teams. Darrell Brown, Nate Kennell and Koch Bar have combined to score 47 percent of Bradley’s points this season and 52 percent of the team’s points over its last five games. For Valparaiso, Javon Freeman-Liberty, John Kiser and Ryan Fazekas have combined to score 40 percent of the team’s points this season.CREATING OFFENSE: Brown has made or assisted on 51 percent of all Bradley field goals over the last three games. The senior guard has accounted for 21 field goals and 17 assists in those games.SCORING THRESHOLDS: Valparaiso is 6-0 when it limits opponents to 62 or fewer points, and 13-15 when opposing teams exceed 62 points. Bradley is 11-0 when holding opponents to 60 points or fewer, and 11-11 whenever teams score more than 60 on the Braves.UNDEFEATED WHEN: The Braves are 11-0 when they hold opposing teams to 60 points or fewer and 11-11 when opponents exceed 60 points. The Crusaders are 6-0 when they hold opponents to 62 points or fewer and 13-15 whenever opponents exceed 62 points.DID YOU KNOW: The stout Bradley defense has held opposing offenses to a field goal percentage of 39.4 percent, the 21st-lowest mark in Division I. Valparaiso has allowed opponents to shoot 45.4 percent through 34 games (ranking the Crusaders 296th).last_img read more

Commuters face stress from traffic

first_imgWhen first-year graduate student Imran Khalid arrived on campus last week, he discovered he had to wait 30 minutes to find a parking spot. The Viterbi School of Engineering’s fall career fair closed off part of Parking Structure A, which led to excessive congestion. Irritated and 20 minutes late to class, Khalid was just one of thousands of students faced with stress caused by traffic.“The distance from my house to USC is 20 miles, and the time it takes me to get to school depends on the time I leave,” Khalid said. “At times, the traffic is so jammed on the freeway, I’ll have to exit and travel beside the freeway. Then it takes an hour and 20 minutes instead of only 25 minutes.”Traffic is in fact one of the primary reasons Forbes ranked Los Angeles as the most stressed city in America.Alan Hyunh, a USC alumnus and transportation expert, said the state of the economy could also increase traffic.“Ever since the recession hit, people are looking for more work,” Hyunh said. “People are driving more in the middle of the day than when the economy was good. This is relevant more so today than in times prior because of the current economic situation that the country is in.”Hyunh said despite the problem, there are resources available to solve the issue.USC Transportation offers options to ease the burden of commuting to school; such as parking permits, carpooling shuttles and buses between Los Angeles Union Station and the two USC campuses.The biggest concern for Natalie Pierson, a senior who lives on the University Park Campus but commutes to the Health Sciences Campus for classes, is planning life around the congested freeways and crowded streets.“The most stressful thing is not knowing whether there will be traffic in the morning, and having to wake up an hour early,” Pierson said.She said this happened during the Caregivers’ Strike last week.“They were picketing sections of [the Health Sciences Campus] so we got an email about delay … unfortunately, I had a midterm that day, so I had to leave about 45 minutes earlier than I wanted to,” Pierson said. “You have to take into account traffic and other obstacles when you commute.”Danielle Silva, a graduate student in architecture and a commuter student, said she spends several hours a day stuck in traffic.“The traffic is definitely why [Los Angeles] is so stressed,” Silva said. “When you think about the fact that you only have so many hours of the day, and two of them are being spent in traffic, it’s frustrating.”Traffic and congestion, however, are simply a part of commuting in the greater Los Angeles area and commuters must consider alternative forms of transportation.“Greater flexibility is the best way to deal with stress because it gives you more time to take control of what you’re doing with your life,” Hyunh said.Commuters must learn to deal with the stress of traffic in their own unique ways, according to Pierson.“As an [occupational therapy] major, you learn the importance of your occupations and the meaning they play in your life,” Pierson said. “I found the occupations that decrease the stress in my life, and I make time for them before I drive to class. Basically, the most important thing is finding time for those things that you’re passionate about.”last_img read more

Jackson’s game-winner lifts Wisconsin over No. 9 Michigan State

first_imgIf there were ever any doubts about who would take the final shot for Wisconsin they were put to rest Sunday afternoon.It was Déjà Vu at the Kohl Center as, just like a week ago against Ohio State, Wisconsin would have the final possession with a chance to win, but that was where the similarities ended.This time, Traevon Jackson got a clean look off of a screen, took his patented lefty-jumper from the elbow and lifted Wisconsin (19-5, 6-5 Big Ten) over No. 9 Michigan State (20-4, 9-2) 60-58.Though Jackson didn’t find success in a similar situation last week and he had only made two baskets before Wisconsin’s final possession, head coach Bo Ryan still had confidence in his junior point guard to make something happen.“He’s the guy that earned that spot and he proved it last year with some big plays,” Ryan said. “His decision making has been a little sporadic at times, but in a last second situation if it starts in his hands, I feel very confident we are going to get something.”For Michigan State head coach Tom Izzo, there was no doubt as to whom he thought was going to take that shot for Wisconsin.“I’ve watched two years worth of Jackson making game-winning shots, so I put my best defender on him and give the guy credit. He made another one,” Izzo said.The Badgers were forced to take a game-winning shot in their final possession because Michigan State’s Adreian Payne hit a three at the top of the key with just 10 seconds left.With some key players out for the Spartans — Keith Appling and Branden Dawson who both average over 10 points per game — Payne was forced to carry the brunt of the load offensively for Michigan State. In just his second game back after missing seven-straight games due to an injured foot, Payne responded with a game-high 24 points in 32 minutes, but none bigger than his long-range basket in the waning seconds.“We executed that last 3-pointer as well as we’ve executed any play in 10 years,” Michigan State head coach Tom Izzo said. “Give Payne credit. He hit a big shot being dead tired.”Before things tightened up in the final minutes, Wisconsin was able to build an eight point lead (30-22) heading into halftime after Michigan State failed to score in the final 6:49 of the first half and allowing Wisconsin to go on an 11-0 run.The Spartans’ offensive drought gave the Badgers a cushion that proved to be the difference at the end.“I think the game was more or less lost in the end of the first half,” Izzo said. “We didn’t score in six minutes and they went on an 11-0 run. We just had so many guys on the bench in foul trouble and some guys in there that couldn’t guard this table. That’s disappointing.”Other than Payne, the Spartans struggled to find any rhythm offensively as Travis Trice was the only other Spartan to hit double figures while sophomore guard Gary Harris, who leads the Big Ten in scoring with 18.2 points per game, went 3-for-20 from the field and 0-for-7 from beyond the arc in a 6-point effort.Harris entered the second half having not made a shot and was 0-for -10 from the floor before he made back-to-back transition dunks in less than 30 seconds with just over 17 minutes left in the game. But, that would be the highlight of Harris’ day as he struggled to score for the rest of the game.It was a different story for Wisconsin who has two players trending up in terms of recent offensive performance.Sam Dekker, who struggled with his shot before netting 16 in his last outing against Illinois, hit the first shot of the game with a shot from outside the arc. From there Dekker went on to put up 11 points on 3-of-6 shooting from three-point range.But it was freshman forward Nigel Hayes that was the epitome of consistency on the offensive end for the Badgers, hitting mid-range jumper after mid-range jumper and drawing fouls around the rim, prompting coach Ryan to proclaim “Nigel is pretty special.”Wisconsin’s win over Michigan State snapped a five-game losing streak to the Spartans and a three-game losing streak at home.Dekker knows the win over the Spartans will give a little bit of “mojo” back to his team that has been reeling for the last couple of weeks.“It was a pretty sour taste,” Dekker said of Wisconsin’s three-game home losing streak.  “You take a lot of pride in playing in from of [the fans], and you want to go out and perform as well as you can for them, and we weren’t doing that. So this is big to get back to our winning ways and get that little mojo back in the Kohl Center.last_img read more

British Esports Association publishes esports age guide and benefits document

first_imgThe British Esports Association has published an age guide for esports and a document outlining the benefits of esports.Both documents are to provide education to parents and help break the stigma that arguably continues to surround video gaming and competitive esports in the United Kingdom. The not-for-profit organisation’s first guide looks at a comprehensive number of games and outlines the PEGI rating as well as providing brief comment. For games which do not have a PEGI age rating, British Esports suggests a suitable age. It breaks the world of esports down into different categories, and also includes mobile titles that youngsters may opt to play. It covers games from 3+ all the way up to 18+ FPS titles.In addition, British Esports has designed an infographic showing the benefits of video games and esports. It touches on cognitive and social benefits as well as outlining skills that children can gain from playing video games with others, as part of a balanced and healthy lifestyle. The new resources are available on the British Esports Association website, here.Matt Hancock, Minister for Digital, said: “The video games industry continues to grow as a major economic and cultural force critical to Britain’s prosperity in the twenty-first century. Bringing the thrill of esports into the mix only adds to this fantastic success story. I’m looking forward to seeing the growing UK esports scene flourish as part of this global phenomenon.”British Esports Association chair Andy Payne OBE commented: “The British Esports Association is all about grassroots and strongly believes that starting from the bottom up is key. We want to send a positive message out to parents and the general public that esports has many benefits, and is a positive activity for children when done in moderation.”Esports Insider says: More positive work from the British Esports Association. It’s vitally important for the UK to continue to develop its esports from the grassroots, and that starts with education. As aforementioned, there’s still stigma around video gaming and that’s arguably the reason the UK hasn’t produced the talent of Scandinavia and the likes.last_img read more

Mercedes-Benz sponsor LPL side Royal Never Give Up

first_imgThe deal was shared on Twitter by @Marco_YS35The deal will include a jersey sponsorship from Mercedes, while players from RNG will feature in advertisements geared towards League of Legends fans during the LPL broadcast.Mercedes-Benz has sponsored the Chinese League of Legends scene in the past, having a deal with the LPL directly. The deal was, however, cut short after Mercedes shared an image with a Dalai Lama quote, Mercedes was quickly removed from LPL broadcasts and their deal with the league was cut short. The Dalai Lama has been considered a fugitive by China since he fled China-controlled Tibet to India back in 1959.That controversy obviously didn’t put Mercedes-Benz off esports or the Chinese market, however, with them returning to both the scene and the region of their controversial past.Royal Never Give Up currently sit 1-1 in the LPL, with a victory against LGD and a week one defeat to JDG, they will face up against 3-0 side Suning Gaming on the 20th of June in their next fixture. The Chinese side recently won the LoL Mid-Season Invitational in Paris, after finishing first in a tough LPL Spring Split.Esports Insider says: It’s good to see past issues have not put Mercedes off pushing more into esports partnerships, though we would assume it’s hard to pass up such a huge market, especially one that targets a demographic that is full of potential future buyers of Mercedes cars.Sign up to our newsletter! Royal Never Give Up (RNG) has announced via their Weibo that they have entered into a sponsorship agreement with German car manufacturer, Mercedes-Benz.last_img read more