Atlas Energy to acquire Moser Energy Systems for $220 million
The deal, comprising $180 million in cash and approximately 1.7 million shares of Atlas common stock, is expected to close before the end of the first quarter of 2025 and be immediately accretive.
The transaction is expected to expand Atlas' customer base and strengthen its core operations in the Permian Basin by adding a vital power service offering, the company said.
The acquired assets would generate $40 million to $45 million in adjusted core earnings in 2025, Atlas said.
Moser Energy Systems provides energy solutions for oilfield services, commercial, industrial, and military applications.
The company's services includes development of oilfield generator systems utilizing unprocessed natural gas to reduce flaring.
Austin, Texas-based Atlas Energy, which debuted on the U.S. stock market, opens new tab in early 2023 with a valuation of $1.75 billion, now has a market cap of $2.64 billion as of its last close.
here.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
13 minutes ago
- Reuters
India-US spat over trade and oil threatens wider fallout
NEW DELHI/WASHINGTON, Aug 6 (Reuters) - U.S. President Donald Trump's tirade against India over trade and Russian oil purchases threatens to undo two decades of diplomatic progress, analysts and officials say, and could derail other areas of cooperation as domestic political pressures drive both sides to harden their stances. India's opposition parties and the general public have urged Prime Minister Narendra Modi to stand up to what they call bullying by Trump, who on Wednesday signed an executive order subjecting Indian imports to an additional 25% in duties on top of an existing 25% tariff, due to its big purchases of Russian oil. While India has emerged in recent years as a key partner for Washington in its strategic rivalry with China, its large U.S. trade surplus and close relations with Russia - which Trump is seeking to pressure into agreeing to a peace agreement with Ukraine - have made it a prime target in the Republican president's global tariff offensive. Trump's taunt that India could buy oil from arch enemy Pakistan has also not gone down well in New Delhi, said two Indian government sources. India has also rejected repeated claims by Trump that he used trade as a lever to end a recent military conflict between India and Pakistan. In an unusually sharp statement this week, India accused the U.S. of double standards in singling it out for Russian oil imports while continuing to buy Russian uranium hexafluoride, palladium and fertiliser. On Wednesday, it called the tariffs "unfair, unjustified and unreasonable," vowing to "take all actions necessary to protect its national interests." But New Delhi knows that any further escalation will hurt it in matters beyond trade, said the sources. Unlike China, India does not have leverage like supplies of rare earths to force Trump's hand to improve the terms of any trade deal, they said. In recent years, successive U.S. administrations, including Trump's first, carefully cultivated relations with India with an eye on it as a vital partner in long-term efforts to counter the growing might of China. But analysts say Trump's recent moves have plunged the relationship back to possibly its worst phase since the U.S. imposed sanctions on India for nuclear tests in 1998. "India is now in a trap: because of Trump's pressure, Modi will reduce India's oil purchases from Russia, but he cannot publicly admit to doing so for fear of looking like he's surrendering to Trump's blackmail," said Ashley Tellis at Washington's Carnegie Endowment for International Peace. "We could be heading into a needless crisis that unravels a quarter century of hard-won gains with India." Indian state refiners have in recent days stopped buying Russian oil as discounts narrowed and pressure from Trump rose, Reuters has reported. A more pressing challenge for India, analysts say, is the stark divergence between its priorities and Trump's political base on key issues such as work visas for tech professionals and offshoring of services. India has long been a major beneficiary of U.S. work visa programs and the outsourcing of software and business services, a sore point for Americans who have lost jobs to cheaper workers in India. Relations with India risk becoming a "football in American domestic politics," warned Evan Feigenbaum, a former senior State Department official under the Republican presidency of George W. Bush. "Issues that directly touch India are among the most partisan and explosive in Washington, including immigration and deportation, H1B visas for tech workers, offshoring and overseas manufacturing by U.S. companies, and technology sharing and co-innovation with foreigners," he wrote in a LinkedIn post. Since a 2008 deal to cooperate on civilian nuclear technology, the two countries have deepened intelligence sharing and defence cooperation and expanded interactions with Australia and Japan through the Quad grouping aimed at containing China's dominance in the Indo-Pacific. But fractures have appeared, despite Modi's rapport with Trump in his first term and then former President Joe Biden. Images in February of Indians deported by the U.S. on military planes, their hands and legs shackled, horrified the country just days before Modi went to see Trump seeking to stave off high tariffs. The relationship was also seriously tested in late 2023 when the U.S. said it had foiled a plot with Indian links to kill a Sikh separatist leader on U.S. soil. New Delhi has denied any official connection to the plot. "The Modi regime's credibility in the U.S. has gone down," said Sukh Deo Muni, a former Indian diplomat and a professor emeritus at New Delhi's Jawaharlal Nehru University. "And maybe there are people who think that India or Modi had to be brought back on track, if not taught a lesson. And if that trend continues, I'm quite worried that the challenge is quite powerful and strong for India to navigate." One Indian government source said India needs to gradually repair ties with the U.S. while engaging more with other nations that have faced the brunt of Trump tariffs and aid cuts, including the African Union and the BRICS bloc that includes Brazil, Russia, China and South Africa. India is already making some moves with Russia and China. Russian President Vladimir Putin is expected to visit New Delhi this year and on Tuesday, Russia said the two countries had discussed further strengthening defence cooperation "in the form of a particularly privileged strategic partnership." India has also boosted engagement with China, a change after years of tensions following a deadly border clash in 2020. Modi is set to visit China soon for the first time since 2018. "Russia will attempt to exploit the rift between the U.S. and India by proposing the restoration of the Russia-India-China trilateral and new projects in defence," said analyst Aleksei Zakharov at the Observer Research Foundation in New Delhi. "India will undoubtedly be mindful of structural factors such as sanctions against Russia and will seek to find a compromise with the Trump administration."
Reuters
43 minutes ago
- Reuters
Brazil's July trade surplus narrows 6.3% as imports outpace exports
BRASILIA, Aug 6 (Reuters) - Brazil posted a trade surplus of $7.1 billion in July, down 6.3% from a year earlier, as imports grew at a faster pace than exports, official data showed on Wednesday. Exports rose 4.8% to $32.3 billion, while imports jumped 8.4% to $25.2 billion, driven by strong demand across a broad range of goods. Year-to-date, the trade surplus shrank by a quarter to $37 billion when compared to the same period last year, as resilient domestic activity continued to support import growth. The government expects Latin America's largest economy to expand 2.5% this year despite an aggressive monetary tightening cycle that began last September to curb inflation and that has put the country's benchmark interest rate at a near 20-year high of 15%. July import growth was widespread, with double-digit increases across key categories including fertilizers, fuels, machinery and engines, auto parts, and pharmaceuticals. Export value gains, typically driven by commodities, were supported by modest increases in soybean shipments and more robust growth in coffee, crude oil and beef exports.
Time Out Dubai
44 minutes ago
- Time Out Dubai
10 major parking changes in Dubai you need to know about
Parking in Dubai can be challenging with so many other drivers to compete with for a space. You may have a specific spot in mind, but it's often the case that someone else has got there first, and that means you'll need to find a new place to park. Parking has already changed a lot in 2025, with new rates, systems and zones introduced all across the city throughout the year. To allow you to keep on top of things and not get caught out when you're driving around, we've rounded up the big parking changes you need to know about this year in Dubai. 1) Salik payments available on 36,000 Dubai parking spaces (Credit: Dubai Media Office) Parkonic, a UAE-based smart parking solutions provider, and Salik, the city's toll gate operator, have partnered on 36,000 spaces across the emirate. The two companies will provide the region's first fully autonomous, AI-powered on-street and off-street parking solution at sites operated by Dubai Holding. It means that next time you park your car in Dubai, you may not even need a ticket or pay with cash. Payments will now be automatic and linked with your Salik account, so make sure you're topped up. The project aims to reduce congestion, cut carbon emissions, and directly support Dubai's Net Zero goals, while enhancing the overall customer experience. 2) Parkin to operate 29.6k new paid parking spaces (Credit: Dubai Media Office) Parkin, the leading provider of paid public parking facilities and services in Dubai, will start operating paid public parking facilities and services across several of Dubai Holding's master-planned communities. It means that 29.6k paid parking spaces will now be operated by Parkin in the city, following increading pressure on the availability of parking spaces across key destinations. The introduction of paid parking at these spaces aims to improve traffic flow, reduce congestion and improve the experience for residents and visitors. 3) Paid parking to be introduced at mosques The Islamic Affairs and Charitable Activities Department and Parkin sign first-of-its-kind partnership to organize smart parking around mosques in Dubai. In phase one, Parkin will operate and manage approximately 2,100 parking spaces across 59 sites, providing free parking for… — Dubai Media Office (@DXBMediaOffice) July 31, 2025 The Islamic Affairs and Charitable Activities Department has entered a strategic partnership with Parkin. As part of the agreement, Parkin will operate and manage 2,100 parking spaces across 59 places of worship in Dubai. Paid parking will be rolled out by August at these sites and will be chargeable 24 hours a day, seven days a week outside of prayer hours. During prayer time, mosque visitors will be able to park free of charge for up to one hour. The agreement aims to make it easier for worshippers to find a parking space during prayer and improve access to mosques at all times. Parking spaces will be designated as Zone M for standard spaces and Zone MP for premium spaces, 41 sites will be located in Zone M and 18 in Zone MP. This means that tariffs will be Dhs2 for 30 minutes in Zone M sites and in MP at off-peak times, but will be Dhs3 in MP at peak times. For a full hour, tariffs will be Dhs4 in Zone M and in Zone MP at off-peak times. During peak times, Zone MP parking will be Dhs6 for an hour. 4) New public parking zones introduced in 2025 Credit: Parkin Several new parking zones have been launched throughout 2025 so be wary next time you're driving around. Public parking operator Parkin has launched new zones in major Dubai neighbourhoods. In July, a new 24/7 zone was launched at Al Khail Gate which introduced a flat Dhs30 for daily parking and an hourly tarrif of Dhs4 during both off-peak and peak hours. In May, two new zones were introduced in Mirdif which covers on-street and off-street parking. Off-peak parking was priced at Dhs2 per hour and during peak hours it was Dhs4 per hour. You may like: How mall parking *actually* works in Dubai 5) Salik launched ticketless parking in 18 locations Salik (Credit: CanvaPro) Tollgate operator Salik recently teamed up with Parkonic, the UAE's largest private parking operator, to bring parking solutions to numerous parking sites across Dubai. The initiative was first rolled out to 107 core locations across the UAE and now residents and visitors will soon be able to use its eWallet system across 18 new locations in Dubai. The new ticket-free and automatic parking payments using your Salik account will be available at these new locations. Locations include the Union Coops in Al Twar, Silicon Oasis, Al Quoz, Al Barsha, Mankhool and Nad Al Hamar. The Beach JBR, Park Islands, Heera Beach, Park Islands, Marina Walk, West Palm Beach, Opus Tower, Lulu Al Qusais and Azure Residence are also included in the new Salik/Parkonic locations. 6) Barrierless parking introduced at major Dubai malls Mall of the Emirates (Credit: Mall of the Emirates) In recent times, some of the city's biggest malls have removed parking barriers to make it quicker to get in and out of car parks. As long as your timing is right, you can make some major savings on parking at some of the city's biggest malls and focus, instead, on grabbing bargains. BurJuman has introduced Automatic Number Plate Recognition to calculate fees. It means that there's no longer a need for a ticket but you'll still need to pay at a machine and rates have not changed. City Centre Deira, Mall of the Emirates and City Centre Mirdif all removed barriers in their respective parking zones. Rates have not changed as a result of the changes. 7) Parking to change at Dubai public parks (Credit: Supplied) The city's official parking operator, Parkin, is set to take over public parking facilities at some of the emirate's biggest and most popular public parks. An agreement between Parkin and Dubai Municipality means that the parking operator will now manage several select free public parking facilities that are owned by Dubai Municipality. The two parties will develop planning and regulatory standards, streamline permit procedures and enable data exchange to support services. It has not yet been revealed which sites Parkin will begin operating the parking facilities at. But Dubai Municipality do operate the likes of Al Safa Park, Dubai Frame and Quranic Park. 8) New parking rates across Dubai In 2025, new parking tariffs have been introduced across the city at Parkin-controlled on-street and off-street zones. Premium spaces across the city have been hiked up to Dhs6 per hour at several zones across the city. It also clarified the peak and off-peak parking hours in Dubai. The increase in tariffs was announced alongside a change to dynamic Salik toll gate pricing in November 2024, but came into effect on Friday April 5 in 2025. Peak pricing will apply to six out of the 14 chargeable hours per day – 8am to 10am plus 4pm to 8pm – but these prices will not be in place on Sundays or on public holidays. Tariffs during off-peak hours will be unchanged. This means that what you pay will not change between 10am and 4pm as well as between 8pm and 10pm. The updated tariffs applied to zones A, B, C and D and can be seen in full here. 9) Parking fee increases in Dubai (Credit: Canva) Since the introduction of new Parkin rates in Zones A, B, C and D, price hikes have been introduced in specific neighbourhoods. Parking during major events at Dubai World Trade Centre has seen a significant spike to Dhs25 per hour. The area surrounding DWTC is now known as a Grand Event Zone, with parking now priced at Dhs25 per hour during big conferences. In April, Parkin doubled fees in four of the emirate's biggest neighbourhoods. Rates increased in Al Karama, Al Qusais, Madinat Dubai Al Melaheyah and Al Kiraf. Previously, Zone W parking spots cost Dhs2, but this latest announcement means that the price is now double. In February, fees increased in the Al Sufouh 2 area, which meant a hike in hourly prices in Barsha Heights, Dubai Media City and Dubai Internet City. 10) Teachers and students to get cheaper parking (Credit: Canva) The city's official parking operator, Parkin, just announced it is changing the rules around parking fees, offering certain individuals a budget subscription fee. Offering new public parking subscriptions, the fees will be available to students, as well as the staff of private education centres. There will also be a new subscription fee for anyone seeking multi-storey parking access across the city. For students, the fee will start at Dhs100 per month, allowing access to both roadside and plots parking with zone codes A, B, C and D within a 500m radius of their campus. Teachers and staff at private education centres will also be able to redeem the Dhs100 fee along with parking near their campus. Looking for things to do in Dubai? All the sports events in Dubai in 2025 to sign up for Make 2025 the year of your PBs 50 brilliant outdoor activities to try at least once in Dubai Let's take this outside The incredible Dubai hotels offering more than just a room Did someone say freebies?
