Appendixes Appendix I the 1904 'Zander' Contract
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2021 Annual General Meeting and Proxy Statement 2020 Annual Report
2020 Annual Report and Proxyand Statement 2021 Annual General Meeting Meeting General Annual 2021 Transocean Ltd. • 2021 ANNUAL GENERAL MEETING AND PROXY STATEMENT • 2020 ANNUAL REPORT CONTENTS LETTER TO SHAREHOLDERS NOTICE OF 2021 ANNUAL GENERAL MEETING AND PROXY STATEMENT COMPENSATION REPORT 2020 ANNUAL REPORT TO SHAREHOLDERS ABOUT TRANSOCEAN LTD. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services, and operates one of the most versatile offshore drilling fleets in the world. Transocean owns or has partial ownership interests in, and operates a fleet of 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships. Our shares are traded on the New York Stock Exchange under the symbol RIG. OUR GLOBAL MARKET PRESENCE Ultra-Deepwater 27 Harsh Environment 10 The symbols in the map above represent the company’s global market presence as of the February 12, 2021 Fleet Status Report. ABOUT THE COVER The front cover features two of our crewmembers onboard the Deepwater Conqueror in the Gulf of Mexico and was taken prior to the COVID-19 pandemic. During the pandemic, our priorities remain keeping our employees, customers, contractors and their families healthy and safe, and delivering incident-free operations to our customers worldwide. FORWARD-LOOKING STATEMENTS Any statements included in this Proxy Statement and 2020 Annual Report that are not historical facts, including, without limitation, statements regarding future market trends and results of operations are forward-looking statements within the meaning of applicable securities law. -
Empirical Inference of Related Trading Between Two Securities: Detecting Pairs Trading, Merger Arbitrage, and Strategy Rules*
Empirical inference of related trading between two securities: Detecting pairs trading, merger arbitrage, and strategy rules* Keith Godfrey The University of Western Australia Working paper: 5 September 2013 The traditional approach to studying pairs trading is to simulate profitability using ex-post historical prices. I study the actual trades reported anonymously in security pairs and build statistical inferences of related trading. The approach is based on the time differences between trades. It can distinguish intrinsically related securities from pseudo-random sets, find stocks involved in merger arbitrage in massive sets of paired index constituents, and infer dominant trading rules of mean reversion algorithms. Empirical inference of related trading can enable further studies into pairs trading, strategy rules, merger arbitrage, and insider trading. Keywords: Inferred trading, empirical inference, pairs trading, merger arbitrage. JEL Classification Codes: G00, G10, C10, C40, C60 The availability of intraday trading or “tick” data with time resolution of a millisecond or finer is opening many avenues of research into financial markets. Analysis of two or more streams of tick data concurrently is becoming increasingly important in the study of multiple-security trading including index tracking, pairs trading, merger arbitrage, and market-neutral strategies. One of the greatest challenges in empirical trading research is the anonymity of reported trades. Securities exchanges report the dates, times, prices, and volumes traded, without identifying the traders. In studies of a single security, this introduces uncertainty of whether each market order that caused a trade was the buy or sell order, and there are documented approaches of inference such as Lee and Ready (1991). -
To Arrive at the Total Scores, Each Company Is Marked out of 10 Across
BRITAIN’S MOST ADMIRED COMPANIES THE RESULTS 17th last year as it continues to do well in the growing LNG business, especially in Australia and Brazil. Veteran chief executive Frank Chapman is due to step down in the new year, and in October a row about overstated reserves hit the share price. Some pundits To arrive at the total scores, each company is reckon BG could become a take over target as a result. The biggest climber in the top 10 this year is marked out of 10 across nine criteria, such as quality Petrofac, up to fifth from 68th last year. The oilfield of management, value as a long-term investment, services group may not be as well known as some, but it is doing great business all the same. Its boss, Syrian- financial soundness and capacity to innovate. Here born Ayman Asfari, is one of the growing band of are the top 10 firms by these individual measures wealthy foreign entrepreneurs who choose to make London their operating base and home, to the benefit of both the Exchequer and the employment figures. In fourth place is Rolls-Royce, one of BMAC’s most Financial value as a long-term community and environmental soundness investment responsibility consistent high performers. Hardly a year goes past that it does not feature in the upper reaches of our table, 1= Rightmove 9.00 1 Diageo 8.61 1 Co-operative Bank 8.00 and it has topped its sector – aero and defence engi- 1= Rotork 9.00 2 Berkeley Group 8.40 2 BASF (UK & Ireland) 7.61 neering – for a decade. -
Copyrighted Material
Index Abraham, Spencer, 82 Anadarko Petroleum Corp., 74, 185 Accidents, industrial, 18 Anderson, Jason, 158 Acheson, Dean, 53 Anderson, Paul, 153 Alaska, 24, 46, 56 –57, 81, 89 Anglo-Persian (Iranian) Oil Co., 45, 49, BP’s maintenance problems, 135 50 –54 fi nes paid by BP for spills, 133, 143 Angola, 12, 38, 41, 70 oil spills, 114, 119–135 Apache Corp., 186 Al-Husseini, Sadad I., 124 Atlantic Richfi eld Co. (ARCO), 30 –31, Allen, Mark, 37–38 56, 57, 114, 125, 126 Allen, Thad, 176 Atlantis, 66, 72, 193 All the Shah’s Men (Kinzer), 51 Azerbaijan, 31, 37, 41, 47 Al-Megrahi, Abdel Basset, 38 Al-Naimi, Ali, 35 –36 Baker, James, 105, 112, 142 Alternative energyCOPYRIGHTED technology, 33 Balzer, MATERIAL Dick, 40 Alyeska Pipeline Service Co., Barbier, Carl, 185 120, 121 Barton, Joe, 151, 182 American Petroleum Institute (API), 82, Bauer, Robert, 182 87, 91 Bea, Bob, 125 –128, 131, 160, 173 Amoco, 28 –30, 36 –37, 106, 125, 126 Bertone, Stephen, 6 –9, 16 217 bbindex.inddindex.indd 221717 112/1/102/1/10 77:05:39:05:39 AAMM INDEX Big Kahuna, 78 establishes victims’ fund after Gulf spill, Blackbeard well, 129, 160 181, 182–183 Bledsoe, Paul, 34 events leading up to Gulf explosion, Blowout preventer (BOP), 92, 146, 155 –173 148, 156 –157, 161, 167, 168, exploration and production unit, 175, 192 10, 145 Bly, Mark, 165 –166, 169 fi nally caps Gulf well, 152 Bondy, Rupert, 145 fi nancial liability from Gulf oil spill, 152 Bowlin, Mike, 30 fi nes paid for safety violations, 133, 143 BP: industrial accidents in U.S., 18 begins developing Alaska, 56 –57 investigation -
Preparing for Carbon Pricing: Case Studies from Company Experience
TECHNICAL NOTE 9 | JANUARY 2015 Preparing for Carbon Pricing Case Studies from Company Experience: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company Acknowledgments and Methodology This Technical Note was prepared for the PMR Secretariat by Janet Peace, Tim Juliani, Anthony Mansell, and Jason Ye (Center for Climate and Energy Solutions—C2ES), with input and supervision from Pierre Guigon and Sarah Moyer (PMR Secretariat). The note comprises case studies with three companies: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E). All three have operated in jurisdictions where carbon emissions are regulated. This note captures their experiences and lessons learned preparing for and operating under policies that price carbon emissions. The following information sources were used during the research for these case studies: 1. Interviews conducted between February and October 2014 with current and former employees who had first-hand knowledge of these companies’ activities related to preparing for and operating under carbon pricing regulation. 2. Publicly available resources, including corporate sustainability reports, annual reports, and Carbon Disclosure Project responses. 3. Internal company review of the draft case studies. 4. C2ES’s history of engagement with corporations on carbon pricing policies. Early insights from this research were presented at a business-government dialogue co-hosted by the PMR, the International Finance Corporation, and the Business-PMR of the International Emissions Trading Association (IETA) in Cologne, Germany, in May 2014. Feedback from that event has also been incorporated into the final version. We would like to acknowledge experts at Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E)—among whom Laurel Green, David Hone, Sue Lacey and Neil Marshman—for their collaboration and for sharing insights during the preparation of the report. -
BP Code of Conduct – English
Our Code Our responsibility Code of Conduct Guiding you to make the right decisions Our values and behaviours are the foundation of our Code What we value Safety Safety is good business. Everything we do relies upon the safety of our workforce and the communities around us. We care about the safe management of the environment. We are committed to safely delivering energy to the world. Respect We respect the world in which we operate. It begins with compliance with laws and regulations. We hold ourselves to the highest ethical standards and behave in ways that earn the trust of others. We depend on the relationships we have and respect each other and those we work with. We value diversity of people and thought. We care about the consequences of our decisions, large and small, on those around us. Excellence We are in a hazardous business and are committed to excellence through the systematic and disciplined management of our operations. We follow and uphold the rules and standards we set for our company. We commit to quality outcomes, have a thirst to learn and to improve. If something is not right, we correct it. Courage What we do is rarely easy. Achieving the best outcomes often requires the courage to face difficulty, to speak up and stand by what we believe. We always strive to do the right thing. We explore new ways of thinking and are unafraid to ask for help. We are honest with ourselves and actively seek feedback from others. We aim for an enduring legacy, despite the short-term priorities of our world. -
19-1189 BP PLC V. Mayor and City Council of Baltimore
(Slip Opinion) OCTOBER TERM, 2020 1 Syllabus NOTE: Where it is feasible, a syllabus (headnote) will be released, as is being done in connection with this case, at the time the opinion is issued. The syllabus constitutes no part of the opinion of the Court but has been prepared by the Reporter of Decisions for the convenience of the reader. See United States v. Detroit Timber & Lumber Co., 200 U. S. 321, 337. SUPREME COURT OF THE UNITED STATES Syllabus BP P. L. C. ET AL. v. MAYOR AND CITY COUNCIL OF BALTIMORE CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE FOURTH CIRCUIT No. 19–1189. Argued January 19, 2021—Decided May 17, 2021 Baltimore’s Mayor and City Council (collectively City) sued various en- ergy companies in Maryland state court alleging that the companies concealed the environmental impacts of the fossil fuels they promoted. The defendant companies removed the case to federal court invoking a number of grounds for federal jurisdiction, including the federal officer removal statute, 28 U. S. C. §1442. The City argued that none of the defendants’ various grounds for removal justified retaining federal ju- risdiction, and the district court agreed, issuing an order remanding the case back to state court. Although an order remanding a case to state court is ordinarily unreviewable on appeal, Congress has deter- mined that appellate review is available for those orders “remanding a case to the State court from which it was removed pursuant to section 1442 or 1443 of [Title 28].” §1447(d). The Fourth Circuit read this provision to authorize appellate review only for the part of a remand order deciding the §1442 or §1443 removal ground. -
BP Plc Vs Royal Dutch Shell
FEBRUARY 2021 BP plc Vs Royal Dutch Shell 01872 229 000 www.atlanticmarkets.co.uk www.atlanticmarkets.co.uk BP Plc A Brief History BP is a British multinational oil and gas company headquartered in London. It is one of the world’s oil and gas supermajors. · 1908. The founding of the Anglo-Persian Oil Company, established as a subsidiary of Burmah Oil Company to take advantage of oil discoveries in Iran. · 1935. It became the Anglo-Iranian Oil Company · 1954. Adopted the name British Petroleum. · 1959. The company expanded beyond the Middle East to Alaska and it was one of the first companies to strike oil in the North Sea. · 1978. British Petroleum acquired majority control of Standard Oil of Ohio. Formerly majority state-owned. · 1979–1987. The British government privatised the company in stages between. · 1998. British Petroleum merged with Amoco, becoming BP Amoco plc, · 2000-2001. Acquired ARCO and Burmah Castrol, becoming BP plc. · 2003–2013. BP was a partner in the TNK-BP joint venture in Russia. Positioning BP is a “vertically integrated” company, meaning it’s involved in the whole supply chain – from discovering oil, producing it, refining it, shipping it, trading it and selling it at the petrol pump. BP has operations in nearly 80 countries worldwide and has around 18,700 service stations worldwide. Its largest division is BP America. In Russia, BP also own a 19.75% stake in Rosneft, the world’s largest publicly traded oil and gas company by hydrocarbon reserves and production. BP has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. -
FTSE Factsheet
FTSE COMPANY REPORT Share price analysis relative to sector and index performance Argos Resources ARG Oil Gas and Coal — GBP 0.03 at close 16 April 2021 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 21-Apr-2015 1D WTD MTD YTD Absolute - - - - Rel.Sector - - - - Rel.Market - - - - VALUATION Data unavailable Trailing PE -ve EV/EBITDA -ve PB 0.2 PCF +ve Div Yield 0.0 Price/Sales - Net Debt/Equity -ve Div Payout 0.0 ROE -ve DESCRIPTION Data unavailable The principal activity of the Group is that of oil and gas exploration. Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: Argos Resources 16 April 2021 Valuation Metrics Price to Earnings (PE) EV to EBITDA Price to Book (PB) 31-Mar-2021 31-Mar-2021 31-Mar-2021 100 ‖ ‖ 1 0.8 0.9 0.7 80 0.8 +1SD 0.7 0.6 60 0.6 0.5 +1SD 0.5 40 Avg 0.4 0.4 Avg 0.3 0.3 20 0.2 0.2 -1SD 0.1 -1SD 0 ‖ ‖ ‖ ‖ 0 ‖ ‖ ‖ ‖ 0.1 Apr-2016 Apr-2017 Apr-2018 Apr-2019 Apr-2020 Apr-2016 Apr-2017 Apr-2018 Apr-2019 Apr-2020 Apr-2016 Apr-2017 Apr-2018 Apr-2019 Apr-2020 Petrofac 5.8 Energean 73.2 Energean 2.0 Harbour Energy PLC -0.2 BP 45.5 Lamprell 1.3 EnQuest -0.6 Hunting 31.5 Diversified Gas & Oil 1.2 Tullow Oil -0.7 Diversified Gas & Oil 11.3 BP 1.1 Lamprell -1.4 Oil Gas and Coal 9.5 Oil Gas and Coal 1.1 Oil Gas and Coal -5.2 Tullow Oil 7.9 Cairn Energy 1.0 Cairn Energy -9.4 Harbour Energy PLC 2.8 Pharos Energy 0.3 Wood Group (John) -10.4 Pharos Energy 1.5 Argos Resources 0.2 Argos Resources -17.2 -
Foreign Investment in the Oil Sands and British Columbia Shale Gas
Canadian Energy Research Institute Foreign Investment in the Oil Sands and British Columbia Shale Gas Jon Rozhon March 2012 Relevant • Independent • Objective Foreign Investment in the Oil Sands and British Columbia Shale Gas 1 Foreign Investment in the Oil Sands There has been a steady flow of foreign investment into the oil sands industry over the past decade in terms of merger and acquisition (M&A) activity. Out of a total CDN$61.5 billion in M&A’s, approximately half – or CDN$30.3 billion – involved foreign companies taking an ownership stake. These funds were invested in in situ projects, integrated projects, and land leases. As indicated in Figure 1, US and Chinese companies made the most concerted efforts to increase their profile in the oil sands, investing 2/3 of all foreign capital. The US and China both invested in a total of seven different projects. The French company, Total SA, has also spread its capital around several projects (four in total) while Royal Dutch Shell (UK), Statoil (Norway), and PTT (Thailand) each opted to take large positions in one project each. Table 1 provides a list of all foreign investments in the oil sands since 2004. Figure 1: Total Oil Sands Foreign Investment since 2003, Country of Origin Korea 1% Thailand Norway 6% UK 7% 2% US France 33% 18% China 33% Source: Canoils. Foreign Investment in the Oil Sands and British Columbia Shale Gas 2 Table 1: Oil Sands Foreign Investment Deals Year Country Acquirer Brief Description Total Acquisition Cost (000) 2012 China PetroChina 40% interest in MacKay River 680,000 project from AOSC 2011 China China National Offshore Acquisition of OPTI Canada 1,906,461 Oil Corporation 2010 France Total SA Alliance with Suncor. -
BP Transforms Its US Onshore Oil and Gas Business, Acquiring World-Class Unconventional Assets from BHP 26 July 2018
BP transforms its US onshore oil and gas business, acquiring world-class unconventional assets from BHP 26 July 2018 Acquisition accretive to earnings and cash flow, delivered within existing financial frame Company increases dividend for first time in 15 quarters Upgrades and repositions BP’s US onshore business Brings advantaged oil and gas assets in world-class basins Adds 190,000 boe/d production and 4.6 billion boe discovered resources Boosts liquids share of BP’s US onshore production and resources Offers growth into the next decade Creates significant value Accretive to earnings and cash flow on a per share basis Increases Upstream free cash flow target by $1 billion to $14-15 billion in 2021 Generates estimated pre-tax synergies of over $350 million a year Fully accommodated within existing financial frame Total cash consideration of $10.5 billion – 50% on completion, 50% deferred over six months Up to $5-6 billion of additional divestments planned to fund share buybacks of up to $5-6 billion over time Unchanged financial frame of $15-17 billion annual organic capital expenditure to 2021, and gearing of 20-30% BP transforms its US onshore oil and gas business, acquiring world-class unconventional assets from BHP Page | 1 Strong free cashflow outlook supports dividend rise for second quarter 2018 2.5% rise to 10.25c per ordinary share is first dividend increase since third quarter 2014 In a move that will upgrade and materially reposition its US onshore oil and gas business, BP has agreed to acquire a portfolio of world-class unconventional oil and gas assets from BHP. -
Chapter 11 ) VALARIS PLC, Et Al.,1 ) Case No
Case 20-34114 Document 105 Filed in TXSB on 08/23/20 Page 1 of 4 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION ) In re: ) Chapter 11 ) VALARIS PLC, et al.,1 ) Case No. 20-34114 (MI) ) Debtors. ) (Jointly Administered) ) (Emergency Hearing Requested) DEBTORS’ AMENDED WITNESS LIST AND EXHIBIT LIST FOR MATTERS SET FOR AUGUST 24, 2020 The above-captioned debtors and debtors in possession (collectively, the “Debtors”) file their Amended Witness and Exhibit List for the hearing to be held on August 24, 2020, at 10:00 a.m. (prevailing Central Time) (the “Hearing”) as follows.2 Witnesses The Debtors may call the following witnesses at the Hearing:3 1. Jonathan Baksht, Executive Vice President and Chief Financial Officer of Valaris PLC; 2. James Sean McGuire, Director, Stretto; 3. any witness listed by any other party; and 4. rebuttal witnesses as necessary. 1 A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors’ proposed claims and noticing agent at http://cases.stretto.com/Valaris. The location of Debtor Ensco Incorporated’s principal place of business and the Debtors’ service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057. 2 The Debtors reserve the right to amend this Witness and Exhibit List after reviewing any objections. 3 The Debtors reserve the right to cross-examine any witness called by any other party at the Hearing. 1 Case 20-34114 Document 105 Filed in TXSB on 08/23/20 Page 2 of 4 Exhibits4 Object Admit Mark Offer Disposition No.