Northwind Midstream Partners Announces Permitting of Third AGI Injection Well, Final Approval of MRV Plan, and the Completion of New Compressor Station
Northwind on track to increase total permitted daily injection capacity to ~37 million MMSCFD of TAG by 2026
MRV approval qualifies Northwind for 45Q tax credits
Fifth NACE standard compressor station increases total compression capacity to ~225 MMcf/d
HOUSTON, May 29, 2025--(BUSINESS WIRE)--Northwind Midstream Partners LLC ("Northwind" or the "Company") today announced that it has received a final order from the New Mexico Oil Conservation Commission approving an additional acid gas injection ("AGI") and carbon sequestration well to be located at the Company's Titan Treating Complex in Lea County, New Mexico.
New Devonian AGI Well
This will be Northwind's third AGI well, increasing the Company's total permitted daily injection capacity to ~37 million standard cubic feet per day (MMSCFD) of total acid gas ("TAG") when completed in 2026. The injection zone of the new well will target the Devonian formation in the Northern Delaware Basin, and combined with Northwind's existing Devonian AGI well, it will give the Company a total of ~29 MMSCFD of permitted Devonian injection capacity. The new well also provides additional redundancy for Northwind's existing TAG disposal operations at the Titan Treating Complex and will underpin the Company's previously announced expansion of the Titan Complex.
The Titan Complex currently operates 150 million cubic feet per day (MMcf/d) of high-circulation amine treating capacity and two AGI and carbon sequestration wells. As part of the buildout of the Titan Complex, Northwind expects to complete its Train #3 by mid-year 2025, which will increase total treating capacity to 200 MMcf/d. Additionally, Northwind has reached FID and customer support to further expand total treating capacity to 400 MMcf/d by 2026.
EPA Approval of MRV Plan
Northwind has also received a milestone approval from the U.S. Environmental Protection Agency ("EPA") for its monitoring, reporting and verification ("MRV") plan for the permanent sequestration of carbon dioxide ("CO2") at the Titan Treating Complex. Northwind's MRV plan documents how the Company will ensure permanent sequestration of CO2 in its AGI wells from natural gas treated at the Titan Complex. The MRV approval, in conjunction with meeting other statutory requirements, will allow Northwind to qualify for 45Q tax credits.
Completion of Pelham Compressor Station
In addition to building out the Titan Complex, Northwind has significantly expanded its natural gas gathering and compression network throughout Lea County. The Company recently placed into service its fifth NACE standard compressor station with initial capacity of 25 MMcf/d. This brings Northwind's total compression capacity to ~225 MMcf/d across its full system. Northwind's gathering and compression network, which is designed specifically to manage produced natural gas with high levels of hydrogen sulfide and carbon dioxide, includes over 200 miles of large-diameter steel pipelines and 47,250 horsepower of compression across five compressor stations.
Five Point Perspective
David Capobianco, CEO and Managing Partner of Five Point Infrastructure, said, "Regulatory approval validates Northwind's platform as providing the essential infrastructure needed to expand safe and reliable capacity in Lea County, New Mexico, an increasingly important oil producing region."
Management Perspective
"With these approvals in hand, we look forward to advancing the build out of our Titan Treating Complex, providing our producer partners in Lea County with essential off-spec gas gathering, treating, and sequestration capacity," said Northwind CEO Matt Spicer. "The expansion of this facility, along with the addition of our new compressor station, will contribute to the continued growth of the oil and gas industry across the Northern Delaware Basin, while also helping producers manage emissions."
About Northwind Midstream Partners
Established in 2022, Northwind's strategy is to develop, own and operate off-spec gas infrastructure in the Permian Basin. Northwind operates a highly efficient, environmentally focused and exceedingly reliable midstream system, which unlocks overall customer value while mitigating customer environmental concerns. Northwind's developed solution provides producers with (i) a superior economic alternative, (ii) significant operational enhancements, (iii) meaningful emissions reductions, and (iv) tangible ESG benefits. Learn more at www.nwmidstream.com
About Five Point Infrastructure
Five Point Infrastructure LLC (formerly known as Five Point Energy LLC) is a private equity and infrastructure investor focused on investments within the North American powered land, surface management, water management, and sustainable infrastructure sectors. The firm was founded by industry veterans with demonstrated records of success investing in, building, and running infrastructure companies. Based in Houston, Texas, Five Point has approximately $8 billion of assets under management across multiple investment funds. For further information, please visit www.fpinfra.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250529113616/en/
Contacts
Media:Daniel Yunger / Nathaniel ShahanKekst CNCdaniel.yunger@kekstcnc.com / nathaniel.shahan@kekstcnc.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Dividend Declaration
LONDON, June 02, 2025--(BUSINESS WIRE)-- Oberon AIM VCT plc ("OVCT" or the "Company") Final Dividend declaration Further to the Notice of the Annual General Meeting which the Company announced on 30 May 2025, the Company wishes to confirm, as stated in Resolution 2 of the AGM Notice, that it is proposing a final dividend for its financial year ended 31 December 2024 of 1.3 pence per share, which is subject to shareholder approval at 12.00 noon on Monday 30 June 2025. If approved by shareholders at the AGM, the final dividend of 1.3 pence per share, will be payable to shareholders appearing on the company's share register on Friday 11 July 2025 and the final dividend will be paid to shareholders on Wednesday 30 July 2025. The Directors of the Company take responsibility for this announcement. For further information, please contact:Company Secretary6 Duke Street,St James's,London,SW1Y 6BN, Tel: +44 (0)20 3179 5300 View source version on Contacts OBERON AIM VCT PLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Indivior Announces Intention to Cancel Secondary Listing on London Stock Exchange; Primary Listing on Nasdaq to be Maintained
SLOUGH, England and RICHMOND, Va., June 2, 2025 /PRNewswire/ -- Indivior PLC (Nasdaq/LSE: INDV) today announced its intention to cancel: (i) the secondary listing of the Company's Ordinary Shares ("Ordinary Shares") on the Equity Shares (Transition) category of the Official List (the "Official List") of the U.K. Financial Conduct Authority ("FCA"); and (ii) the admission to trading of its Ordinary Shares on the London Stock Exchange's ("LSE") main market for listed securities (together, the "London Delisting"). Background to and Reasons for the London Delisting In the circular published by Indivior on May 3, 2024, the Board noted its intention to maintain the Company's secondary listing in London, "for as long as it is considered to be in the best interests of Indivior and its shareholders as a whole." Following the completion of Indivior's transition to a U.S. primary listing, the Board has kept its listing structure under regular review. As part of such review, the Company has considered, among other things, the liquidity and trading volumes of Ordinary Shares on each of the Nasdaq Stock Market ("Nasdaq") and the LSE, the location of its shareholders, as well as the cost and administrative requirements related to its secondary listing in London. In further consideration of Indivior's listing structure, the Board now believes that the London Delisting will be beneficial for the following reasons: Fully aligns with Indivior's most attractive and valuable opportunity set – U.S. SUBLOCADE; Better reflects the Company's geographic net revenue profile; over 80% of net revenue is generated from the U.S.; Eliminates the cost and complexity of maintaining a secondary listing; Recognizes that liquidity on Nasdaq now far outweighs liquidity on the LSE; as of May 27th, trading on the Nasdaq now accounts for approximately 75% of total trading volume across both exchanges over the last 30 days; Takes account of the location of most holders of Ordinary Shares by value; over 70% are now held by shareholders located in the U.S.; and Permits timing of material news announcements that aligns with the Company's U.S. peer set. Accordingly, the Company hereby gives notice that it has requested that: (i) the FCA cancel the listing of the Ordinary Shares on the Equity Shares (Transition) category of the Official List of the FCA; and (ii) the LSE cancel the admission to trading of the Ordinary Shares on the main market for listed securities of the LSE. David Wheadon, Chair, said: "We are pleased to announce this key milestone for Indivior following our evaluation period. A single primary listing on Nasdaq best reflects the profile of Indivior's business. We appreciate the support received from shareholders for this initiative and look forward to capitalizing on the expected benefits of this move, including reductions in cost and complexity." Process for and principal effects of the London Delisting In accordance with U.K. Listing Rule 21.2.17R, the Company is required to give at least 20 business days' notice of the London Delisting. To further accommodate shareholders of Indivior PLC, the Company is providing approximately 40 business days' notice of the London Delisting. As such, it is intended that the London Delisting will become effective from 8:00 a.m. (U.K. time) on July 25, 2025, such that the last day of trading of the Ordinary Shares on the LSE will be July 24, 2025. Following the London Delisting: (i) it will no longer be possible to trade Ordinary Shares on the LSE; and (ii) the Company will maintain its listing of its Ordinary Shares on Nasdaq. The London Delisting is expected to have no impact for shareholders who are direct holders of Ordinary Shares or who hold their interests in Ordinary Shares through their nominated DTC broker or custodian. Holders of U.K. issued Indivior Depositary Interests ("U.K. DIs") and participants in Indivior's Corporate Sponsored Nominee facility ("CSN") are strongly encouraged to read Appendix 1 to this announcement, which contains further details of the arrangements that will apply to them following the London Delisting and the actions that they may wish to take in advance of the London Delisting (including the steps and actions required to convert their interests into holdings of Ordinary Shares, directly or through a DTC broker or custodian, from which they can be traded directly on Nasdaq). As the Company is assigned to the Equity Shares (Transition) category of the Official List, no shareholder approval is required for the London Delisting. The Company has prepared an FAQ document for shareholders, which is available at Shareholder FAQ. Takeover Code The Takeover Code (the "Code") applies to any company which has its registered office in the U.K., the Channel Islands or the Isle of Man if any of its equity share capital or other transferable securities carrying voting rights are admitted to trading on a U.K. regulated market, a U.K. Multilateral Trading Facility ("MTF"), or a stock exchange in the Channel Islands or the Isle of Man. The Code therefore currently applies to the Company as its Ordinary Shares are admitted to trading on the LSE, which is a U.K. regulated market. The Code also applies to any company which has its registered office in the U.K., the Channel Islands or the Isle of Man if any of its securities were admitted to trading on a U.K. regulated market, a U.K. MTF, or a stock exchange in the Channel Islands or the Isle of Man at any time during the preceding two years. Accordingly, if the London Delisting becomes effective, the Code will continue to apply to the Company for a period of two years after the London Delisting, following which the Code will cease to apply to the Company. While the Code continues to apply to the Company, a mandatory cash offer will be required to be made if either: (a) any person acquires an interest in Ordinary Shares which (taken together with the Ordinary Shares in which the person or any person acting in concert with that person is interested) carry 30% or more of the voting rights of the Company; or (b) any person, together with persons acting in concert with that person, is interested in Ordinary Shares which in the aggregate carry not less than 30% of the voting rights of a Company but does not hold Ordinary Shares carrying more than 50% of such voting rights and such person, or any person acting in concert with that person, acquires an interest in any other Ordinary Shares which increases the percentage of Ordinary Shares carrying voting rights in which that person is interested. Brief details of the Takeover Panel (the "Panel"), and of the protections afforded by the Code, are set out in Appendix 2 to this announcement. Important Cautionary Note Regarding Forward-looking Statements Certain statements contained herein are forward-looking statements." Forward-looking statements include, among other things, express and implied statements pertaining to (i) our intentions with respect to the London Delisting and our expectation that it will become effective; (ii) expected future sources of shareholder value, (iii) expected benefits of the London Delisting, (iv) estimates of costs and complexity of maintaining a secondary listing, and (v) statements containing the words "believe", "anticipate", "plan", "expect", "intend", "estimate", "forecast," "strategy", "target", "guidance", "outlook", "potential", "project", "priority," "may", "will", "should", "would", "could", "can", "outlook," the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future. Actual results may differ materially from those expressed or implied in such statements because they relate to future events. For information about some of the risks and important factors that could affect our future results and financial condition, see the discussion of "Risk Factors" in our Annual Report on Form 10-K filed March 3, 2025, Part II Item 1A herein, our Form 10-Q filed May 1, 2025, and our other filings with the U.S. Securities and Exchange Commission. We have based the forward-looking statements in this release on our current expectations and beliefs concerning future events. Forward-looking statements contained in this release speak only as of the day they are made and, except as required by law, we undertake no obligation to update or revise any forward-looking statement. About Indivior Indivior is a global pharmaceutical company working to help change patients' lives by developing medicines to treat opioid use disorder (OUD). Our vision is that all patients around the world will have access to evidence-based treatment for OUD and we are dedicated to transforming OUD from a global human crisis to a recognized and treated chronic disease. Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to expand on its heritage in this category. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit to learn more. Connect with Indivior on LinkedIn by visiting This announcement is being made by Alice Givens, Company Secretary. Appendix 1: Additional Details for Holders of U.K. DIs and CSN participants Holders of U.K. DIs and CSN participants are advised to read this Appendix carefully to ensure that they understand the arrangements that will apply to them following the London Delisting and the actions that they may wish to take in advance of the London Delisting. If in doubt as to the action they should take, they are recommended to seek advice from their qualified financial advisor. U.K. DI Holders The Company's existing U.K. DI arrangements will not be impacted by the London Delisting. Accordingly, following the London Delisting, shareholders may continue to hold their interests in Ordinary Shares in the form of U.K. DIs, that is through CREST. However, following the London Delisting it will only be possible to place on market trades in respect of Ordinary Shares on Nasdaq. Consequently, in order to trade their Ordinary Shares following the London Delisting, U.K. DI holders will have to reposition their interests in Ordinary Shares into a DTC broker or custodian account by: (i) cancelling their U.K. DIs through the delivery of a cross-border instruction in respect of the underlying Ordinary Shares through CREST to Computershare Investor Services PLC ("Computershare U.K.", as the issuer of the U.K. DIs) in the form of a CREST stock withdrawal message (CREST system message type: STW); and (ii) instructing Computershare U.K. to deliver their interests in Ordinary Shares into the account of their chosen bank, broker, custodian firm, financial institution and/or other person that is a participant in DTC (a "DTC Participant"). The cancellation of U.K. DIs is subject to a charge, depending on the value of the underlying Ordinary Shares. The minimum cancellation charge is currently $125. For general enquiries, details of the current cancelation charges or for assistance in cancelling U.K. DIs and lodging cross- border instructions, holders, or brokers, of U.K. DIs should contact Computershare U.K. by phone on +44 (0) 370-707-1820 (from inside or outside the U.K.). Lines are open 8:30 a.m. to 5:30 p.m. (U.K. time), Monday to Friday (excluding public holidays in England and Wales). If you hold your U.K. DIs through a broker, custodian or nominee (for example you are an investor through a retail nominee arrangement and are not a CREST participant directly), please contact your broker, custodian or nominee for assistance. U.K. DI holders will be given advance notice if, in the future, the Company decides to discontinue and/or make any amendments to the existing U.K. DI arrangements. CSN Participants The Company's existing CSN arrangements will not be impacted by the London Delisting. Accordingly, following the London Delisting, CSN participants may continue to hold interests in Ordinary Shares through U.K. DIs via the CSN. However, following the London Delisting it will only be possible to place on market trades in respect of Ordinary Shares on Nasdaq. Consequently, when trading through a continuation of the existing service, CSN participants may be exposed to fluctuations in the exchange rate between U.S. dollars (being the currency in which Nasdaq trades are settled) and pounds sterling (being the default currency in which CSN participants will receive sale proceeds). Accordingly, CSN participants may consider taking one of the following actions in advance of the London Delisting. (1) If resident in the United Kingdom, Channel Islands, or Isle of Man, sell their interests in Ordinary Shares through the existing Internet Sale Dealing Service provided by Computershare U.K., with instructions to be submitted by no later than 4:30 p.m. (U.K. time) on July 21, 2025. If resident in a jurisdiction other than the United Kingdom, Channel Islands, or Isle of Man, sell via Computershare U.K.'s Postal Dealing Service, with instructions to be received by Computershare U.K. no later than 5:30 p.m. (U.K. time) on July 18, 2025. (2) Withdraw from the CSN facility and request Computershare U.K. to deliver their U.K. DIs to their nominated broker, custodian or nominee account in CREST, who may either: (i) reposition their interests in Ordinary Shares to a broker or custodian account in DTC; (ii) place a trade on the LSE prior to the London Delisting (as an alternative service to the trading services available through the CSN facility); or (iii) continue to hold their U.K. DIs pending future instructions (in which case they will be treated as other U.K. DI Holders – see section above). (3) Withdraw from the CSN facility and request Computershare U.K. to cancel the underlying U.K. DIs so as to receive their Ordinary Shares directly in certificated form on a share register administered in the U.S. Note: this could expose shareholders to a future U.K. Stamp Duty liability of 1.5% of the value of their Ordinary Shares when the shareholder subsequently decides to trade on Nasdaq. CSN participants will be given advance notice if, in the future, the Company decides to discontinue and/or make any amendments to the existing CSN arrangements. Appendix 2: Additional Details regarding the Code and the Panel The Code is issued and administered by the Panel. The Code currently applies to the Company and, accordingly, shareholders are entitled to the protections afforded by the Code. The Code and the Panel operate principally to ensure that shareholders in an offeree company are treated fairly and are not denied an opportunity to decide on the merits of a takeover and that shareholders in the offeree company of the same class are afforded equivalent treatment by an offeror. The Code also provides an orderly framework within which takeovers are conducted. In addition, it is designed to promote, in conjunction with other regulatory regimes, the integrity of the financial markets. The Code is based upon a number of General Principles, which are essentially statements of standards of commercial behavior. The General Principles apply to takeovers and other matters to which the Code applies. They are applied by the Panel in accordance with their spirit in order to achieve their underlying purpose. In addition to the General Principles, the Code contains a series of rules. Like the General Principles, the rules are to be interpreted to achieve their underlying purpose. Therefore, their spirit must be observed as well as their letter. The Panel may derogate or grant a waiver to a person from the application of a rule in certain circumstances. The following is a summary of key provisions of the Code which apply to transactions to which the Code applies. Equality of treatment General Principle 1 of the Code states that all holders of the securities of an offeree company of the same class must be afforded equivalent treatment. Furthermore, Rule 16.1 requires that, except with the consent of the Panel, special arrangements may not be made with certain shareholders in the offeree company if there are favorable conditions attached which are not being extended to all shareholders. Information to shareholders General Principle 2 requires that the holders of the securities of an offeree company must have sufficient time and information to enable them to reach a properly informed decision on the takeover bid. Consequently, a document setting out full details of an offer must be sent to the offeree company's shareholders. The opinion of the offeree board and independent advice The board of the offeree company is required by Rule 3.1 to obtain competent independent advice as to whether the financial terms of any offer are fair and reasonable and the substance of such advice must be made known to its shareholders. Rule 25.2 requires the board of the offeree company to send to shareholders and persons with information rights its opinion on the offer and its reasons for forming that opinion. That opinion must include the board's views on: (i) the effects of implementation of the offer on all the company's interests, including, specifically, employment; and (ii) the offeror's strategic plans for the offeree company and their likely repercussions on employment and the locations of the offeree company's places of business. The document sent to shareholders must also deal with other matters such as interests and recent dealings in the securities of the offeror and the offeree company by relevant parties and whether the directors of the offeree company intend to accept or reject the offer in respect of their own beneficial shareholdings. Rule 20.1 states that, except in certain circumstances, information and opinions relating to an offer or a party to an offer must be made equally available to all offeree company shareholders and persons with information rights as nearly as possible at the same time and in the same manner. Optionholders and holders of convertible securities or subscription rights Rule 15 provides that when an offer is made and the offeree company has convertible securities, options or subscription rights outstanding, the offeror must make an appropriate offer or proposal to the holders of those securities to ensure their interests are safeguarded. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE U.K. BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) View original content to download multimedia: SOURCE Indivior PLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
2 hours ago
- Business Upturn
Cosmo First commissions new BOPP Film Line at Aurangabad plant
By Aman Shukla Published on June 2, 2025, 10:12 IST Cosmo First Ltd, a global supplier of films for packaging, lamination, labelling, and synthetic paper, has successfully commissioned a new BOPP (Biaxially Oriented Polypropylene) film line at its manufacturing facility in Aurangabad, Maharashtra. The new BOPP line involves a capital expenditure of over ₹400 crore and adds an annual production capacity of 81,200 metric tonnes (MT). With this addition, Cosmo First's total annual BOPP capacity rises by approximately 40%, reaching 2,77,000 MT. This development is part of the company's strategic initiative to scale up production and meet the growing demand for speciality packaging films. Cosmo First has recorded a 10% CAGR in speciality film sales over the past six years. The expanded capacity is expected to support the launch of several new speciality products in the coming quarters. The company stated that the new line features advanced manufacturing technology, aimed at enhancing efficiency and broadening its product offerings in the speciality films and packaging segments. Pankaj Poddar, Group CEO, Cosmo First, stated, 'We expect the line to get filled fast due to current favourable gap in demand and supply in the domestic industry. Further, the new BOPP film line shall be eligible for state govt incentives beside being the most cost-efficient line in India. The Company's focus will be on taking full leverage of the new investments including BOPP line and grow specialty film sales.' Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
