Gross Lease – BCN Stay http://bcn-stay.com/ Sun, 28 Nov 2021 03:42:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://bcn-stay.com/wp-content/uploads/2021/06/icon-2-150x150.png Gross Lease – BCN Stay http://bcn-stay.com/ 32 32 Patience earns big trophy for Texas deer hunter who let his chances slip away as antlers continued to grow https://bcn-stay.com/patience-earns-big-trophy-for-texas-deer-hunter-who-let-his-chances-slip-away-as-antlers-continued-to-grow/ Sat, 27 Nov 2021 23:12:15 +0000 https://bcn-stay.com/patience-earns-big-trophy-for-texas-deer-hunter-who-let-his-chances-slip-away-as-antlers-continued-to-grow/ Joel Colston of Livingston had an early jump into the general deer season which started on November 6, and it paid off with a remarkable white-tailed deer wearing a magnificent crown. Texas Big Awards Program scorer Erik Van Dorn of Huntsville posted the 18-point scorer at 199 3/8 raw using the Boone and Crockett scoring […]]]>

Joel Colston of Livingston had an early jump into the general deer season which started on November 6, and it paid off with a remarkable white-tailed deer wearing a magnificent crown.

Texas Big Awards Program scorer Erik Van Dorn of Huntsville posted the 18-point scorer at 199 3/8 raw using the Boone and Crockett scoring system. The huge 190 2/8 mesh rack after deduction for lack of symmetry. It’s the best non-typical TBGA at large reported statewide this season.

There are a lot of great lessons that ambitious deer handlers can learn from Colston’s whopper.

For starters, this makes it clear what can happen when like-minded hunters watch out for those itchy trigger fingers and let young men walk.

Deer also exemplifies the benefits of providing protein and other nutritious foods in the off-season to fuel new antler growth after the previous year’s antler had melted.

Colston hunts on a 1,600 acre club he shares with six other members in Trinity County. The lease has operated under the guidelines of the deer land management program managed by the Texas Parks and Wildlife Department (MLDP) for nearly two decades.

The main goals of the program are to help promote healthier deer herds, improve habitat, and ultimately produce more and better males on private land.

MLD conservation level clubs pay an annual fee to TPWD in exchange for the opportunity to work with a state wildlife biologist, developing suitable habitat and harvest recommendations to meet deer management goals. for specific properties.

Program participants are required to maintain accurate harvest data and adhere to prescribed habitat management practices from year to year.

MLD hunters are rewarded for their good deeds with nice perks. Among them, greater flexibility in the management of their deer herds by allowing longer seasons and more lenient harvest quotas.

This year, MLD clubs statewide were allowed to start hunting with rifles at the start of the archery season only on October 2. That’s how Colston found himself in a blind box a week later with a 6.5 Creedmoor on his lap.

He was hoping for an afternoon date with “Triple Crown”. And he got it.

Colston said he and his hunting buddies tagged the buck with the catchy nickname due to the unique cluster of points that sprouted from his G2s.

“He’s a really cool male,” Colston said. “I don’t know if I can ever beat him – not free range in East Texas, anyway.”

A nighttime photo of Triple Crown at 2.5 years old.(Courtesy of Joel Colston)

Let it grow

Colston’s relationship with the manly-looking whitetail deer dates back to 2019, when a promising young 10-point pointer began showing up on hunting cameras positioned at protein stations and corn feeders every day. corners of the property.

Colston said the 2.5-year-old male may have scored around 125 B&C at the time. “He traveled throughout the term of the lease,” he recalls. “Everyone saw it. You never knew where he was going to be.

Many hunters would have shot the buck if given the chance, but not on Colston’s lease. Growing quality dollars is the name of the game out there.

Club members are well trained in judging white deer on the field, and they are limited to strict guidelines when it comes to pulling the trigger, especially on special dogs who display the potential of the Triple. Crown at such a young age.

Stacking on bone

Surprisingly, Triple Crown’s headgear exploded ahead of the 2020 season, easily stacking up to around 30-35 inches of mass, teeth, and beam length.

Colston said he observed the 3.5-year-old deer for an hour at one of his feeders on opening day last October. He had 14 points and estimated the buck to score in the mid-160s.

Triple Crown, at 3 and a half, pictured at a deer feeder.
Triple Crown, at 3 and a half, photographed at a deer feeder.(Courtesy of Joel Colston)

Colston showed a video of the exceptional male to the other members, and everyone agreed on the age of the male. Likewise, they chose to give him another year to grow up.

“We knew it was risky to do this, because we have neighbors around us who we have lost a lot of good deer with over the years,” said Colston. “All we could do was hope he didn’t go and get shot. Fortunately, he never left our club last season. If he did, it wasn’t for very long.

Colston said the male lost his antlers last March and didn’t show up for the camera until mid-July, about four months after the 2021 antler growing season began.

Members of the club were shocked at what they saw in the huge dollar that everyone believed was no more than 4.5 years old.

“It really blew up this year,” Colston said. “We were all in disbelief that it was him, but there was no doubt. It’s scary to think of what this deer could have become with a year or two, but we all knew we couldn’t take that risk. Everyone agreed that whoever gets the chance should go ahead and shoot him.

A Triple Crown meeting

Several club members have had photos of the buck throughout the summer, most of them under cover of darkness. Colston said he collected a photo of the deer in daylight the week before the MLD season opened on October 2, but never laid eyes on the animal this fall until until a magical sunset falls over Trinity County on October 9th.

The hunter said he was observing a group of deer about 150 yards away when he turned to check an adjacent road that leads to his stand. It was then that he saw an amazing male with large gnarled antlers resembling something out of a fairy tale.

“He was just standing there looking at me, about 80 yards away,” he said.

Colston didn’t have to think twice before picking up his rifle, but it took a few seconds for him to prepare for the shot. Meanwhile, Triple Crown took off from the road and headed for the adjacent clearcut.

Luckily for Coltson, the male checked before blending into the thick brush.

“I don’t know why he stopped, but it gave me just enough time to shoot,” he said. “Everything went perfectly. “

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Find more sports coverage from the Dallas Morning News here.


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Over a month later, Summit County and Breckenridge’s Lease to Locals program accommodates 32 people https://bcn-stay.com/over-a-month-later-summit-county-and-breckenridges-lease-to-locals-program-accommodates-32-people/ Sat, 20 Nov 2021 23:00:00 +0000 https://bcn-stay.com/over-a-month-later-summit-county-and-breckenridges-lease-to-locals-program-accommodates-32-people/ Park Place Plaza on Four O’Clock Road in Breckenridge is pictured on Sunday September 5. Short-term rentals in Breckenridge and unincorporated Summit County are eligible to participate in the Lease to Locals program, which converts rental housing into housing for the local workforce.Liz Copan / For the Daily News Summit When Summit County embarked on […]]]>

Park Place Plaza on Four O’Clock Road in Breckenridge is pictured on Sunday September 5. Short-term rentals in Breckenridge and unincorporated Summit County are eligible to participate in the Lease to Locals program, which converts rental housing into housing for the local workforce.
Liz Copan / For the Daily News Summit

When Summit County embarked on creating a pilot program that would convert short-term rental housing into long-term workforce housing, it was primarily to stop the bleeding in the hope that dwellings otherwise inaccessible to residents would suddenly open. The program, a partnership between Summit County and Breckenridge dubbed Lease to premises, officially launched on October 15.

The program is divided into two phases. The first was to last until December 15 or until the program gets 15 units, whichever comes first. This phase offers the highest amount of incentives, mainly because the county strives to convert units as quickly as possible before the start of the ski season.

“This was an emergency pilot program to try to free housing from the short-term rental market that currently did not exist,” said Jason Dietz, director of Summit County housing.



Dietz confirmed that 16 units have been converted, which currently house 27 employees and their families, for a total of 32 people. Seven of these units are located in the unincorporated county of Summit and nine are located in Breckenridge. Dietz said he hopes to have five more converts and added to the pool before the end of the month.

Rent per employee is on average $ 1,030 per month. About 75% of leases are for 12 months.



While any amount of converted rooms is a win for the program and helps provide units for a workforce struggling to find stable and affordable housing, Dietz said he had hoped that the start of the program would have resulted in more conversions.

“I had very high aspirations for the program and maybe hoped to do more, but realizing how late we started in the season, we had a lot against us,” he said. declared.

For starters, the program kicked off right before the ski and vacation season, meaning many short-term rental units likely already had reservations on the books. Additionally, Dietz said he expected the majority of converted units to work with a property management company, when in reality that only applied to around 37% of units.

As for how much the county spent on the program, Dietz confirmed that he paid about $ 7,000 in incentives per room on average. According to a previous presentation on the project, the incentive starts at $ 7,000 for a one-year studio lease and goes up to $ 20,000 for a unit with three or more bedrooms. The county paid out about $ 210,000 in total incentives.

While that may sound like a lot, Dietz compared the numbers to other housing projects. The county is spending approximately $ 9,000 to $ 10,000 per room on its head lease with Alpine Inn in Frisco. For his housing assistance program, he typically spends around $ 30,000 to $ 40,000 per room. The cost of building a rental room is generally between $ 250,000 and $ 300,000 per room, not including the cost of land and certain other expenses.

It was these incentives that made the program interesting for Denver resident Scott Bilyeu, who purchased his two-bedroom, one-bath condo in Breckenridge in June. Bilyeu bought his condo with the intention of renting it short term for passive income. He expected to generate around $ 40,000 in gross income, but when he heard about the county’s incentives, he said it made more sense, especially since it gave him stability for both. him and for the inhabitants.

“I knew I had moved long-term tenants and people who wanted to rent my place for the year, the same was happening to them,” Bilyeu said. “They were getting kicked out of their unit and were a little desperate. Providing stability for them was good for me and stability for me – it was just kind of a win-win. “

Bilyeu said the process of finding his tenants was easy and that he generated a lot of interest with a simple Facebook post. In the end, he and his two tenants agreed to a $ 2,500 per month split between the two of them. They moved on November 1.

In general, Bilyeu said he is happy with the program so far and is curious about what will happen in the future once this lease ends. For now, he’s said he’s happy to be part of the small group helping to house some of the workforce.


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Report, Real Estate News, ET RealEstate https://bcn-stay.com/report-real-estate-news-et-realestate/ Thu, 18 Nov 2021 04:04:00 +0000 https://bcn-stay.com/report-real-estate-news-et-realestate/ NEW DELHI: Net office rental in seven major cities to reach 90-95% of pre-COVID-19 level in next fiscal year, thanks to new hires and the return of employees to workplaces, according to the rating agency Crisil. Net rental refers to the absorption of new office space minus the space vacated by tenants. “The net rental […]]]>
NEW DELHI: Net office rental in seven major cities to reach 90-95% of pre-COVID-19 level in next fiscal year, thanks to new hires and the return of employees to workplaces, according to the rating agency Crisil. Net rental refers to the absorption of new office space minus the space vacated by tenants.

“The net rental of commercial office space (category A) will reach 90-95% of the pre-pandemic level for the next fiscal year, compared to around 70-75% for the current fiscal year, with a return to offices which ‘is accelerating and new hires are increasing sharply, “he said in a statement.

The increase in net leasing and regular rent collections, which had not declined significantly, will ensure the stability of the credit profiles of commercial property owners, Crisil said.

Net rents in the last fiscal year almost halved to 20 million square feet as absorption of new space was lukewarm and some tenants even left offices, the agency said.

“Leasing also remained modest in the first half of this year. With supply exceeding demand, the market occupancy rate was reduced to 85% in September 2021, compared to 89% before the pandemic in March 2020.

“That said, rental activity is expected to resume from the fourth quarter of this fiscal year and the occupancy rate to reach about 87% next fiscal year, approaching the pre-pandemic level,” the statement said.

The first seven cities – Bengaluru, Chennai, Hyderabad, Kolkata, Metro Mumbai, Delhi-NCR and Pune – have an operational inventory of around 625 million square feet as of March 2021.


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Market declaration for the six months to September 30, 2021 https://bcn-stay.com/market-declaration-for-the-six-months-to-september-30-2021/ https://bcn-stay.com/market-declaration-for-the-six-months-to-september-30-2021/#respond Wed, 10 Nov 2021 07:06:02 +0000 https://bcn-stay.com/market-declaration-for-the-six-months-to-september-30-2021/ Global Ports Holding PLC (GPH) Trading Statement for the six months to September 30, 2021 10-Nov-2021 / 07:05 GMT / BST Dissemination of a regulatory announcement containing inside information in accordance with REGULATION (EU) No 596/2014 ( MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement. ————————————————– ————————————————– […]]]>

Global Ports Holding PLC (GPH) Trading Statement for the six months to September 30, 2021 10-Nov-2021 / 07:05 GMT / BST Dissemination of a regulatory announcement containing inside information in accordance with REGULATION (EU) No 596/2014 ( MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement.

————————————————– ————————————————– ——————-

Global Ports Holding Plc

Market declaration for the six months to September 30, 2021

Global Ports Holding Plc (“GPH” or “Group”), the world’s largest independent cruise port operator, is today releasing a business update for the period April 1 to September 30, 2021, which corresponds to the first half of its new 2022 reporting period ending March 31, 2022.

                                    6 months ended 6 months ended YoY 
Key Financials & KPI Highlights1 
                                    30-Sep-21      30-Sep-20      Change 
                                                   Restated8      (%) 
Total Revenue (USDm)                  61.1           46.4           32% 
Adjusted Revenue (USDm)2              14.8           6.3            63% 
Ex-IFRIC 12 Cruise Revenue (USDm) 3   10.3           2.7            281% 
Commercial Revenue (USDm)             4.5            3.6            23% 
Segmental EBITDA (USDm) 4             2.1            (3.6)          n/a 
Cruise EBITDA (USDm) 5                0.3            (4.7)          n/a 
Commercial EBITDA (USDm)              1.8            1.1            59% 
Adjusted EBITDA (USDm) 6              (0.5)          (5.8)          n/a 
 
                                    30-Sep-21      31-Mar-21 
Gross Debt (IFRS)                   544.8          548.9          -1% 
Gross Debt ex IFRS 16 Finance Lease 478.0          483            -1% 
Net Debt ex IFRS 16 Finance Lease   395.3          312.4          27% 
Cash and Cash Equivalents           82.7           170.6          -52% 
 
                                    6 months ended 6 months ended 
KPIs 
                                    30-Sep-21      30-Sep-20 
Passengers (m PAX) 7                0.563          0.01           5530% 
General & Bulk Cargo ('000 tons)    60.1           18.4           227% 
Container Throughput ('000 TEU)     25.9           27.2           -5% 

Notes 1. All USD refer to US dollars unless otherwise stated 2. Adjusted revenue is calculated as total revenue excluding IFRIC-12 construction revenue for Nassau CruisePort 3. Sum of revenues from the consolidated and managed cruise portfolio excluding IFRIC-12 construction revenues for Nassau Cruise Port 4. Segment EBITDA is calculated as income / (loss) before tax after adding: interest; depreciation, amortization; unallocated expenses; and specific adjustment items 5. The EBITDA allocated to the Cruise segment is the sum of the EBITDA of the consolidated cruise ports and the prorated net income of the companies accounted for by the equity method La Goulette, Lisbon, Singapore, Venice and Pelican Peak, and the contribution of management agreements 6. Adjusted EBITDA calculated as sector EBITDA minus unallocated expenses (holding company) 7. The number of passengers refers to the scope of consolidation of the consolidated and managed portfolio, it therefore excludes the associated ports accounted for using the equity method La Goulette, Lisbon, Singapore and Venice. 8. Comparative information has been restated due to the sale of Port Akdeniz.

Key financial data and KPIs

– Cruise passenger volumes for the 6 million period ended Sept. 30, 21 increased significantly year-over-year to 563,000), reflecting the steady but slow return to activity in the cruise industry following the disruptions caused by the Covid-19 pandemic. While cruise stopovers and passenger volumes for the period remained significantly below the levels reached before Covid 19, there has been a significant increase in activity levels in recent months.

– In September 2021, for the first time since pre-Covid 19, all of our cruise ports received cruise stopovers, an important step in the continued recovery of activity levels at our cruise ports. At constant scope in September 2021, our ports received 53% of cruise stopovers and 30% of passengers received for the same pre-Covid 19 period. Covid-19 measures that have reduced current occupancy rates across the industry.

– Total container volumes (TEUs) decreased by 5% and general and bulk cargo volumes increased by 227%, driven by volumes of some low margin freight items

– Total consolidated sales amounted to US $ 61.1 million for the period of € 6 million; excluding the impact of IFRIC-12 construction revenues at the Nassau Cruise Port, the adjusted revenues were $ 14.8 million? Total cruise revenue of $ 56.6 million for the six months ending September 2021. Excluding the impact of IFRIC-12 construction revenues at the cruise port of Nassau, cruise revenues were $ 10.3 million ? Total trading revenue increased 23% to $ 4.5 million for the period from $ 3.6 million for the six months to September 30, 2020 – Segment EBITDA for the six months to end September 2021 was a loss of $ 2.1million, compared to a loss of $ 5.8m for the 6M period through September 30, 2020? Cruise EBITDA was US $ 0.3 million, compared to an EBITDA loss of US $ 4.7 million for the six-month period ended September 30, 2020? Commercial EBITDA was $ 1.8 million, compared to $ 1.1 million for the six-month period ended September 30, 2020 – Adjusted EBITDA was a loss of $ 0.5 million

During the three months ended September 30, 2021, we received 498.7k PAX and Adjusted EBITDA was positive at $ 1.5 million.

Balance sheet

As at September 30, 2021, IFRS gross debt stood at $ 544.8 million (excluding gross debt under IFRS-16 finance leases: $ 478 million), compared to gross debt at March 31, 2021 of 548.9 million dollars (excluding gross debt under IFRS-16 finance leases: $ 483.0 million). ). Net debt excluding IFRS-16 finance leases amounted to USD 395.3 million compared to USD 312.4 million at March 31, 2021. At the end of September 2021, GPH had cash and cash equivalents of USD 82.7 million, against 170.6 MUSD as of March 31, 2021.

The net cash reduction of $ 88.0 million during the period is mainly due to capital expenditures of $ 50.3 million, of which $ 46.6 million was spent on our continued investment in the transformation of the port of cruise from Nassau. Net cash flow from operating activities was negative $ 11.8 million during the period, mainly due to prepayments from contractors for capital expenditures in Nassau.

Net cash from financing activities was negative $ 48.5 million, reflecting the net impact of our prepayment of Eurobonds, the drawdown on our new loan facility and an additional $ 55.0 million. issuance of debt by the cruise port of Nassau as well as $ 30.7 million in interest paid during the period, of which $ 14 million related to the first interest payments on debt incurred to finance the investment in Antigua Cruise Port and Nassau Cruise Port.

Other developments

Despite the significant impact of Covid-19 on the cruise industry and our cruise operations, we have continued to deliver on our strategic growth ambitions. During the period, GPH entered into a five-year senior secured loan agreement of up to US $ 261.3 million with Sixth Street, a leading global investment firm. The loan agreement provides for two term loan facilities, an initial five-year term facility of $ 186.3 million and an additional five-year growth facility of up to $ 75.0 million. In addition to this agreement allowing the early redemption in July 2021 of the $ 250 million 8.125% Senior Secured Euro-Bond due November 2021, the Growth Facility will be the key to the continued success of our growth strategy.

During the period, a 20-year concession agreement was signed and operations began at the cruise port of Taranto, Italy. After the period ended, GPH signed a 20-year lease for the cruise port of Kalundborg, Denmark, located in the northwest region of Denmark, about an hour from downtown Copenhagen. The port’s geographic location means that it can provide cruise lines with a fuel-efficient and time-efficient alternative to Copenhagen cruise port. Kalundborg Cruise Port is GPH’s premier cruise port in Northern Europe, marking another milestone in the Group’s continued development and geographic expansion.

GPH also announced today that the Port Authority of Las Palmas has awarded preferred bidder status to Global Ports Canary Islands SL (“GPCI”), an 80:20 joint venture between GPH and Sepcan SL (“Sepcan”) , to operate three concessions cruise ports in the Canary Islands.

This agreement will cover three cruise port concessions, the port of Las Palmas de Gran Canaria, the port of Arrecife (Lanzarote) and Puerto del Rosario (Fuerteventura), which have respective terms of 40 years, 20 years and 20 years.

Outlook

While the first quarter to June 30, 2021 was characterized by a slow recovery in passenger volumes, there was a very strong month-to-month acceleration in cruise stopovers and passenger volumes in all our ports. cruise since the end of June. This acceleration reflects the continued easing of travel restrictions, the increase in the number of cruise ships sailing and the still strong underlying consumer demand to resume cruising.

This acceleration in volumes means that our ports welcomed ten times more passengers in September 2021 than in May 2021, a very encouraging trend as we approach calendar year 2022.

As expected, there is significant variation in trends across our network of cruise ports. Some ports began welcoming the return of cruise passengers over a year ago, albeit in small numbers, while others welcomed the return of cruise passengers in September 2021 for the first time since the Covid pandemic. 19.

Regardless of where a cruise port is currently on its recovery path, the current outlook is positive. Current cruise lines indicate a continued recovery in activity levels as more cruise ships return to service, with most cruise lines expecting a close to 100% deployment in the summer of 2022.

(MORE FOLLOWING) Dow Jones Newswires

November 10, 2021 02:05 ET (07:05 GMT)


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KOSMOS ENERGY LTD. Management report and analysis of the financial position and operating results (Form 10-Q) https://bcn-stay.com/kosmos-energy-ltd-management-report-and-analysis-of-the-financial-position-and-operating-results-form-10-q/ https://bcn-stay.com/kosmos-energy-ltd-management-report-and-analysis-of-the-financial-position-and-operating-results-form-10-q/#respond Mon, 08 Nov 2021 17:17:03 +0000 https://bcn-stay.com/kosmos-energy-ltd-management-report-and-analysis-of-the-financial-position-and-operating-results-form-10-q/ The following discussion and analysis should be read in conjunction with our consolidated financial statements and notes thereto contained herein and our annual financial statements for the year ended December 31, 2020, included in our annual report on Form 10-K along with the section Management's Discussion and Analysis of financial condition and Results of Operations […]]]>
The following discussion and analysis should be read in conjunction with our
consolidated financial statements and notes thereto contained herein and our
annual financial statements for the year ended December 31, 2020, included in
our annual report on Form 10-K along with the section Management's Discussion
and Analysis of financial condition and Results of Operations contained in such
annual report. Any terms used but not defined in the following discussion have
the same meaning given to them in the annual report. Our discussion and analysis
includes forward-looking statements that involve risks and uncertainties and
should be read in conjunction with "Risk Factors" under Item 1A of this report
and in the annual report, along with "Forward-Looking Information" at the end of
this section for information about the risks and uncertainties that could cause
our actual results to be materially different than our forward-looking
statements.

Overview


We are a full-cycle deepwater independent oil and gas exploration and production
company focused along the Atlantic Margins. Our key assets include production
offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a
world-class gas development offshore Mauritania and Senegal. We also maintain a
sustainable proven basin exploration program in Equatorial Guinea, Ghana and
U.S. Gulf of Mexico.

The ongoing COVID-19 pandemic that emerged at the beginning of 2020 has resulted
in travel restrictions, including border closures, travel bans, social
distancing restrictions and office closures being ordered in the various
countries in which we operate, impacting some of our business operations. These
ongoing restrictions have had an impact on the supply chain, resulting in the
delay of various operational projects. Globally, the impact of COVID-19 has
impacted demand for oil, which also resulted in significant variations in oil
prices. The Company's revenues, earnings, cash flows, capital investments, debt
capacity and, ultimately, future rate of growth are highly dependent on oil
prices.

Recent Developments

Corporate

During the third quarter of 2021, Kosmos received the remainder of the proceeds from
$ 1.0 million of Shell regarding Kosmos’ participation in South Africa as part of the agreement with Shell for the firm of interests in a portfolio of border exploration assets.


In October 2021, Kosmos completed the acquisition of Anadarko WCTP Company
("Anadarko WCTP"), a subsidiary of Occidental Petroleum Corporation, which owns
a participating interest in the WCTP Block and DT Block offshore Ghana,
including an 18.0% participating interest in the Jubilee Unit Area and an 11.1%
participating interest in the TEN fields. In consideration for the acquisition,
Kosmos paid approximately $460.0 million in cash based on an initial purchase
price of $550.6 million reduced by certain purchase price adjustments totaling
$94.7 million. Following closing of the Acquisition, Kosmos' interest in the
Jubilee Unit Area increased from 24.1% to 42.1%, and Kosmos' interest in the TEN
fields increased from 17.0% to 28.1%.

Kosmos initially funded the purchase price through the issuance of $400.0
million aggregate principal amount of floating rate senior notes due 2022 (the
"Bridge Notes") and $75.0 million of borrowings under Kosmos' Facility. Kosmos
then refinanced the Bridge Notes in full with the proceeds from the issuance of
$400.0 million of 7.750% Senior Notes due 2027 and cash on hand. Kosmos also
received $136.6 million in proceeds from a public issuance of 43.1 million
shares of Kosmos' common stock with plans to use the proceeds to repay
outstanding borrowings under the Facility during the fourth quarter of 2021.

Under the Deepwater Tano Block Joint Operating Agreement, certain joint venture
partners have pre-emption rights that, if fully exercised, could reduce our
ultimate interest in the Jubilee Unit Area by 3.8% to 38.3%, and our ultimate
interest in the TEN fields by 8.3% to 19.8%. This pre-emption right exists until
November 12, 2021.

Ghana

During the third quarter of 2021, Ghana production averaged approximately
108,200 Bopd gross (22,700 Bopd net). Jubilee production averaged approximately
77,800 Bopd gross (17,800 Bopd net) with consistent water injection and gas
offtake and TEN production averaged approximately 30,400 Bopd gross (4,900 Bopd
net). In the third quarter of 2021, the multi-year development drilling program
continued to progress, with the successful completion of one producer and one
water injector well in the Jubilee Field. The first Jubilee producer well
(J-56P) started production in July 2021 and the Jubilee injector
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well (J-55W) came online in September 2021. In October 2021, the TEN gas
injector well (NT-06G) was successfully completed and brought online. The rig
then moved to drill and complete the second Jubilee producer well (J57-P), which
is expected online around year-end.

we Gulf of Mexico


Production from the U.S. Gulf of Mexico averaged approximately 17,000 Boepd net
(~81% oil) for the third quarter of 2021. The impact of the unplanned downtime
from hurricanes to production in the U.S. Gulf of Mexico was approximately 4,000
barrels of oil equivalent per day in the third quarter or 1,000 barrels of oil
equivalent to the full year compared to our previous production forecasts for
2021. Production has now returned to around pre-hurricane levels.

In April 2021, the Kodiak #3 infill well located in Mississippi Canyon Block 727
(29.1% working interest) was brought online with one of two zones intermittently
producing. During the third quarter of 2021, the well continued to experience
production issues and has been shut-in. We are currently working with our
partners to evaluate the best options to enhance production from the Kodiak
field.

During the second quarter of 2021, the Tornado-5 infill well located in the
Green Canyon Block 281 (35.0% working interest) was successfully drilled and
completed. The Tornado-5 well was brought online in July 2021 and is performing
at the top end of expectations.

In January 2021, we announced the Winterfell exploration well encountered
approximately 26 meters (85 feet) of net oil pay in two intervals. Winterfell
was designed to test a sub-salt Upper Miocene prospect located in Green Canyon
Block 944. In September 2021, we spudded an appraisal well to the Winterfell
discovery in Green Canyon Block 943, with results expected in the fourth quarter
of 2021. The appraisal well is planned to evaluate the adjacent fault block to
the northwest of the original discovery, which has the same seismic signature as
the Winterfell exploration well, with an exploration tail into a deeper horizon.
The results of the appraisal well will also help refine development options for
the discovery.

In July 2021, the Company commenced drilling the Zora infrastructure-led
exploration prospect located in DeSoto Canyon Block 266 (37.5% working
interest). The well did not find hydrocarbons and was plugged and abandoned in
August 2021. The well results will be integrated into the ongoing evaluation of
the surrounding area. The Company recorded approximately $14.1 million of
exploration expense for the nine months ended September 30, 2021 related to the
well.

Equatorial Guinea

Production in Equatorial Guinea averaged approximately 29,900 Bopd gross (9,600
Bopd net) in the third quarter of 2021. In April 2021, one ESP conversion was
completed with two additional ESP conversions planned to be completed in 2022.
The first of three planned infill wells in the Okume Complex was completed in
August 2021 with hookup currently in progress. In the third quarter of 2021, the
operator commenced drilling the an additional well, which is expected to be
online in the fourth quarter of 2021. The third planned well is now expected to
be deferred, as the rig is being utilized to plug and abandon an existing well
in Equatorial Guinea and is required to mobilize for its' next contract before
it can complete the drilling of the last well.

Mauritania and Senegal


During the first quarter of 2021, BP, as the operator of the Cayar block
offshore Senegal, provided notice to the Government of Senegal requesting an
extension of the current license phase in order to provide the block owners
additional time to evaluate the natural gas market for the natural gas discovery
at Yakaar Teranga. On July 5, 2021 a presidential decree was issued extending
the term of the license for up to an additional three years.

Ahmeyim Unit Superior Turtle


Phase 1 of the Greater Tortue project continues to make steady progress in 2021
with first gas for the project expected in the third quarter of 2023. The
following milestones were achieved as of the end of the third quarter of 2021
and post quarter-end:

• FLNG: Mechanical completion activities started with instrument loop checks

• FPSO: activities for integrating topsides and mechanical finishing of the hull and living quarters have started

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• Breakwaters: start of manufacture of the 20th caisson (out of 21) with 12 caissons installed

• Submarine : Nouakchott and Dakar maritime supply bases established


In August 2021, BP, as the operator of the Greater Tortue project ("BP
Operator"), with the consent of the Greater Tortue Unit participants and the
respective States, agreed to sell the Greater Tortue FPSO (which is currently
under construction by Technip Energies in China) to an affiliate of BP ("BP
Buyer"). The Greater Tortue FPSO will be leased back to BP Operator under a
long-term lease agreement, for exclusive use in the Greater Tortue project. BP
Operator will continue to manage and supervise the construction contract with
Technip Energies. Delivery of the Greater Tortue FPSO to BP Buyer will occur
after construction is complete and the Greater Tortue FPSO has been
commissioned, with the lease to BP Operator becoming effective on the same date,
currently estimated to be in the third quarter of 2023.

As a result of the above transactions entered into by BP Operator, Kosmos has
recognized a Long-term receivable of $200.2 million from BP Operator for our
share of the consideration paid from BP Buyer to and held by BP Operator as well
as a $200.2 million FPSO Contract Liability in Other long-term liabilities
related to the deferred sale of the Tortue FPSO. This Long-term receivable will
be non-cash settled against obligations payable to BP Operator. During the third
quarter of 2021, BP Operator settled our payment obligations of $51.2 million of
capital expenditures and $42.7 million of existing Accounts Payable to BP
Operator.

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Results of Operations

All of our results, as presented in the table below, represent operations from
Jubilee and TEN fields in Ghana, the U.S. Gulf of Mexico and Equatorial Guinea.
Certain operating results and statistics for the three and nine months ended
September 30, 2021 and 2020 are included in the following tables:
                                             Three Months Ended September 30,      Nine Months Ended September 30,
                                                 2021                2020             2021                   2020
                                                              (In thousands, except per volume data)
Sales volumes:
Oil (MBbl)                                        2,719               5,160              11,349              14,361
Gas (MMcf)                                        1,078               1,167               3,624               4,451
NGL (MBbl)                                          111                 122                 365                 457
Total (MBoe)                                      3,010               5,477              12,318              15,560
Total (Boepd)                                    32,714              59,527              45,121              56,788

Revenues:
Oil sales                                   $   190,599          $  220,653    $        737,381          $  517,382
Gas sales                                         4,508               2,314              12,727               8,146
NGL sales                                         3,829               1,819               9,347               4,352
Total revenues                              $   198,936          $  224,786    $        759,455          $  529,880

Average oil sales price per Bbl             $     70.10          $    42.76    $          64.97          $    36.03
Average gas sales price per Mcf                    4.18                1.98                3.51                1.83
Average NGL sales price per Bbl                   34.50               14.91               25.61                9.52
Average total sales price per Boe                 66.10               41.05               61.65               34.05

Costs:

Oil and gas production, excluding reconditioning $ 47,182 $ 87,998

    $        201,975          $  233,141
Oil and gas production, workovers                 3,134              (3,721)              9,896               1,486

Total costs of oil and gas production $ 50,316 $ 84,277

$ 211,871 $ 234,627

Depletion, depreciation and amortization $ 64,914 $ 111,231

$ 292,616 $ 326,390


Average cost per Boe:
Oil and gas production, excluding workovers $     15.68          $    16.07    $          16.40          $    14.98
Oil and gas production, workovers                  1.04               (0.68)               0.80                0.10
Total oil and gas production costs                16.72               15.39               17.20               15.08

Depletion, depreciation and amortization          21.57               20.31               23.76               20.98
Total                                       $     38.29          $    35.70    $          40.96          $    36.06






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The following table shows the number of wells in the process of being drilled or
in active completion stages, and the number of wells suspended or waiting on
completion as of September 30, 2021:

                                                     Actively Drilling or                                                  Wells Suspended or
                                                          Completing                                                      Waiting on Completion
                                        Exploration                       Development                        Exploration                        Development
                                   Gross            Net             Gross              Net             Gross             Net             Gross               Net
Ghana
Jubilee Unit                          -                -               -                  -               -                 -               9                2.17
TEN                                   -                -               1               0.17               -                 -               5                0.85
Equatorial Guinea
Block S                               -                -               -                  -               1              0.40               -                   -
Okume                                 -                -               1               0.43               -                 -               1                0.43
U.S. Gulf of Mexico
Winterfell                            1             0.16               -                  -               1              0.18               -                   -

Mauritania / Senegal
Mauritania C8                         -                -               -                  -               2              0.56               -                   -
Greater Tortue Ahmeyim Unit           -                -               -                  -               3              0.80               1                0.27
Senegal Cayar Profond                 -                -               -                  -               3              0.90               -                   -
Total                                 1             0.16               2               0.60              10              2.84              16                3.72



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The discussion of the results of operations and the period-to-period comparisons
presented below analyze our historical results. The following discussion may not
be indicative of future results.

Three months ended September 30, 2021 compared to three months ended September
30, 2020

                                               Three Months Ended
                                                 September 30,             Increase
                                              2021           2020         (Decrease)
                                                         (In thousands)
Revenues and other income:
Oil and gas revenue                        $ 198,936      $ 224,786      $  (25,850)
Gain on sale of assets                         1,538              -           1,538
Other income, net                                 66              1              65
Total revenues and other income              200,540        224,787         

(24,247)

Costs and expenses:
Oil and gas production                        50,316         84,277         

(33,961)

Changes to facility insurance, net 1,554 2,465

   (911)
Exploration expenses                          23,982         13,977          10,005
General and administrative                    22,459         18,269           4,190

Depletion, depreciation and amortization 64,914 111,231 (46,317)

Interest and other financing costs, net 26,873 27,068

   (195)
Derivatives, net                              38,224          1,187          37,037
Other expenses, net                              194          2,805          (2,611)
Total costs and expenses                     228,516        261,279         (32,763)
Loss before income taxes                     (27,976)       (36,492)          8,516
Income tax expense                               621            892            (271)
Net loss                                   $ (28,597)     $ (37,384)     $    8,787



Oil and gas revenue.  Oil and gas revenue decreased by $25.9 million as a result
of lower sales volumes due to cargo timing in our international operations
partially offset by higher oil prices. We sold 3,010 MBoe at an average realized
price per barrel equivalent of $66.10 during the three months ended
September 30, 2021 and 5,477 MBoe at an average realized price per barrel
equivalent of $41.05 during the three months ended September 30, 2020.

Oil and gas production.  Oil and gas production costs decreased by $34.0 million
during the three months ended September 30, 2021, as compared to the three
months ended September 30, 2020 primarily as a result of lower sales volumes in
the current quarter offset by increased workover costs and higher production
costs per barrel from the field production mix in the U.S. Gulf of Mexico.

General and administrative.  General and administrative costs increased by $4.2
million during the three months ended September 30, 2021, as compared with the
three months ended September 30, 2020 primarily as a result of not accruing
employee bonuses in 2020 as part of management's response to COVID-19.

Exploration expenses.  Exploration expenses increased by $10.0 million during
the three months ended September 30, 2021, as compared to the three months ended
September 30, 2020 primarily as result of the Zora exploration well. The well
did not find hydrocarbons and was plugged and abandoned in August 2021 with
$12.6 million of well costs charged to exploration expense for the three months
ended September 30, 2021.

Depletion, depreciation and amortization.  Depletion, depreciation and
amortization decreased $46.3 million during the three months ended September 30,
2021, as compared with the three months ended September 30, 2020 primarily as a
result of lower sales volumes during the current quarter.

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Derivatives, net.  During the three months ended September 30, 2021 and 2020, we
recorded a loss of $38.2 million and a loss of $1.2 million, respectively, on
our outstanding hedge positions. The amounts recorded were a result of changes
in the forward oil price curve during the respective periods.

Income tax expense (benefit). For the three months ended September 30, 2021 and
2020, our overall effective tax rates were impacted by the difference in our 21%
U.S. income tax reporting rate and the 35% statutory tax rates applicable to our
Ghanaian and Equatorial Guinean operations, jurisdictions that have a 0%
statutory tax rate or where we have incurred losses and have recorded valuation
allowances against the corresponding deferred tax assets, and other
non-deductible expenses, primarily in the U.S.

Nine months ended September 30, 2021 compared to nine months ended September 30,
2020

                                                Nine Months Ended
                                                  September 30,              Increase
                                               2021            2020         (Decrease)
                                                          (In thousands)
Revenues and other income:
Oil and gas revenue                        $  759,455      $  529,880      $  229,575
Gain on sale of assets                          1,564               -           1,564
Other income, net                                 210               2             208
Total revenues and other income               761,229         529,882       

231 347

Costs and expenses:
Oil and gas production                        211,871         234,627       

(22,756)

Changes to facility insurance, net 3,495 10,555

   (7,060)
Exploration expenses                           41,452          74,293         (32,841)
General and administrative                     66,628          57,366           9,262

Depletion, depreciation and amortization 292 616 326 390

(33,774)

Impairment of long-lived assets                     -         150,820       

(150 820)

Interest and other financing costs, net 90 727 83 177

    7,550
Derivatives, net                              252,606         (34,776)        287,382
Other expenses, net                             1,003          27,962         (26,959)
Total costs and expenses                      960,398         930,414          29,984
Loss before income taxes                     (199,169)       (400,532)        201,363
Income tax expense                            (22,617)         19,010         (41,627)
Net loss                                   $ (176,552)     $ (419,542)     $  242,990



Oil and gas revenue.  Oil and gas revenue increased by $229.6 million as a
result of higher oil prices partially offset by lower sales volumes due to lower
production rates resulting in fewer scheduled liftings from our international
operations. We sold 12,318 MBoe at an average realized price per barrel
equivalent of $61.65 during the nine months ended September 30, 2021 and 15,560
MBoe at an average realized price per barrel equivalent of $34.05 during the
nine months ended September 30, 2020.

Oil and gas production.  Oil and gas production costs decreased by $22.8
million during the nine months ended September 30, 2021, as compared to the nine
months ended September 30, 2020 primarily as a result of lower sales and
production volumes in the current year (including TEN fields offshore Ghana)
offset by higher production costs per barrel from the field production mix in
the U.S. Gulf of Mexico.

Changes in the insurance of the installations, net. During the nine months ended
September 30, 2021 and 2020, we have recorded $ 3.5 million and $ 10.6 million, respectively related to facility insurance changes associated with the Jubilee long-term turret bearing solution.


Exploration expenses.  Exploration expenses decreased by $32.8 million during
the nine months ended September 30, 2021, as compared to the nine months ended
September 30, 2020. The decrease is primarily a result of lower geological,
geophysical, and seismic costs incurred in 2021 versus the prior period related
to the U.S. Gulf of Mexico business unit and
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other exploration license areas sold to Shell in 2020. This decrease is
partially offset by the Zora exploration well which did not find hydrocarbons
and was plugged and abandoned in August 2021 with $14.1 million of well costs
charged to exploration expense for the nine months ended September 30, 2021.

General and administrative.  General and administrative costs increased by $9.3
million during the nine months ended September 30, 2021, as compared with the
nine months ended September 30, 2020 primarily as a result of not accruing
employee bonuses in 2020 as part of management's response to COVID-19 offset by
reduced expenditures on general office costs.

Depletion, depreciation and amortization.  Depletion, depreciation and
amortization decreased $33.8 million during the nine months ended September 30,
2021, as compared with the nine months ended September 30, 2020 primarily as a
result of lower sales volumes in the current year partially offset by higher
depletion rates from a reduction of proved reserves in the fourth quarter of
2020 and field production mix.

 Impairment of long-lived assets. As a result of the impact of COVID-19 on the
demand for oil and the related significant decrease in oil prices, we recorded
asset impairments totaling $150.8 million during the nine months ended September
30, 2020 for oil and gas proved properties in the U.S. Gulf of Mexico. We did
not recognize impairment of proved oil and gas properties during the nine months
ended September 30, 2021 as no impairment indicators were identified.

Interest and other financing costs, net.  Interest and other financing costs,
net increased $7.6 million primarily a result of $15.2 million for loss on
extinguishment of debt during the second quarter of 2021 related to the Facility
amendment offset by increased interest income on long-term receivable balances
from GNPC in Ghana and the national oil companies in Mauritania and Senegal
during the nine months ended September 30, 2021, as compared to the nine months
ended September 30, 2020.

Derivatives, net.  During the nine months ended September 30, 2021 and 2020, we
recorded a loss of $252.6 million and a gain of $34.8 million, respectively, on
our outstanding hedge positions. The changes recorded were a result of changes
in the forward curve of oil prices during the respective periods.

Other expenses, net.  Other expenses, net decreased $27.0 million during the
nine months ended September 30, 2021, as compared with the nine months ended
September 30, 2020 primarily related to $13.3 million in restructuring charges
for employee severance and related benefit costs and $5.7 million of asset
impairments recorded in 2020. In addition, we received $8.1 million of insurance
recoveries in 2021.

Income tax expense (benefit). For the nine months ended September 30, 2021 and
2020, our overall effective tax rates were impacted by the difference in our 21%
U.S. income tax reporting rate and the 35% statutory tax rates applicable to our
Ghanaian and Equatorial Guinean operations, jurisdictions that have a 0%
statutory tax rate or where we have incurred losses and have recorded valuation
allowances against the corresponding deferred tax assets, and other
non-deductible expenses, primarily in the U.S. Additionally for September 30,
2020, our overall effective tax rate was impacted by a $30.9 million deferred
tax expense related to valuation allowances on U.S. deferred tax assets
recognized in a prior periods, and a $4.9 million tax benefit associated with
the Coronavirus Aid, Relief and Economic Security ACT ("CARES ACT").

Liquidity and capital resources


We are actively engaged in an ongoing process of anticipating and meeting our
funding requirements related to our strategy as a full-cycle exploration and
production company. We have historically met our funding requirements through
cash flows generated from our operating activities and obtained additional
funding from issuances of equity and debt, as well as partner carries.

Current oil prices are volatile and could negatively impact our ability to
generate sufficient operating cash flows to meet our funding requirements. This
volatility could result in wide fluctuations in future oil prices, which could
impact our ability to comply with our financial covenants. To partially mitigate
this price volatility, we maintain an active hedging program and review our
capital spending program on a regular basis. Our investment decisions are based
on longer-term commodity prices based on the nature of our projects and
development plans. Current commodity prices, combined with our hedging program,
partner carries and our current liquidity position support our remaining capital
program for 2021.

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Sources and Uses of Cash

The following table presents the sources and uses of our cash and cash
equivalents and restricted cash for the nine months ended September 30, 2021 and
2020:

                                                             Nine Months Ended
                                                               September 30,
                                                            2021           2020
                                                              (In thousands)

Sources of cash, cash equivalents and restricted cash: Net cash generated by operating activities

                $ 143,841      $ 

20 657

Net proceeds from issuance of senior notes                 444,375          

Borrowings under long-term debt                            250,000       

300,000

Advances under production prepayment agreement                   -        50,000
Proceeds on sale of assets                                   5,327         1,713
                                                           843,543       372,370
Uses of cash, cash equivalents and restricted cash:
Oil and gas assets                                         377,125       215,425
Other property                                                 725         1,838

Notes receivable from partners                              41,712        53,574
Payments on long-term debt                                 400,000             -
Purchase of treasury stock                                   1,100         4,947
Dividends                                                      512        19,174
Deferred financing costs                                    17,291         4,570
                                                           838,465       299,528

Increase in cash, cash equivalents and restricted cash $ 5,078 $ 72,842

Net cash provided by operating activities. Net cash flow generated by operating activities for the nine months ended September 30, 2021 was $ 143.8 million
compared to net cash provided by operating activities for the nine months ended September 30, 2020 of $ 20.7 million. The increase in cash provided by operating activities during the nine months ended September 30, 2021 compared to the same period in 2020 is mainly the result of rising oil prices.

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The following table presents our net debt and liquidity as of September 30,
2021:

                                                       September 30,
                                                            2021
                                                       (In thousands)
Cash and cash equivalents                             $      111,329
Restricted cash                                               43,513
7.125% Senior Notes                                          650,000
7.500% Senior Notes                                          450,000
Borrowings under the Facility                              1,150,000
Borrowings under the Corporate Revolver                            -
Borrowings under the GoM Term Loan                           200,000
Net debt                                              $    2,295,158

Availability under the Facility                       $       85,155
Availability under the Corporate Revolver             $      400,000

Available borrowings plus cash and cash equivalents $ 596,484

Capital expenditure and investments

We plan to incur capital expenditures when we:

• drill additional wells and carry out mining activities in Ghana,
Equatorial Guinea and in the we Gulf of Mexico;

• carry out exploration and assessment efforts focused on infrastructure in the we Gulf of Mexico and Equatorial Guinea; and

• carry out exploration, evaluation and development activities in Mauritania and
Senegal.


We have relied on a number of assumptions in budgeting for our future
activities. These include the number of wells we plan to drill, our
participating, paying and carried interests in our prospects including
disproportionate payment amounts, the costs involved in developing or
participating in the development of a prospect, the timing of third­party
projects, the availability of suitable equipment and qualified personnel and our
cash flows from operations. We also evaluate potential corporate and asset
acquisition opportunities to support and expand our asset portfolio which may
impact our budget assumptions. These assumptions are inherently subject to
significant business, political, economic, regulatory, health, environmental and
competitive uncertainties, contingencies and risks, all of which are difficult
to predict and many of which are beyond our control. We may need to raise
additional funds more quickly if market conditions deteriorate, or one or more
of our assumptions proves to be incorrect, or if we choose to expand our
acquisition, exploration, appraisal, development efforts or any other activity
more rapidly than we presently anticipate. We may decide to raise additional
funds before we need them if the conditions for raising capital are favorable.
We may seek to sell assets, equity or debt securities or obtain additional bank
credit facilities. The sale of equity securities could result in dilution to our
shareholders. The incurrence of additional indebtedness could result in
increased fixed obligations and additional covenants that could restrict our
operations.

2021 Capital Program
We estimate we will spend around $300 million of capital, which includes the
additional acquired interests in Ghana and excludes amounts related to
Mauritania and Senegal, in our base business for the year ending December 31,
2021. Through September 30, 2021, we have spent approximately $184.3 million on
base business capital expenditures.
Capital expenditures associated with the Greater Tortue project in 2021 net to
Kosmos was previously estimated to be around $350 million. With the completion
of the Greater Tortue FPSO sale transaction in August 2021, our 2021 capital
expenditures associated with the Greater Tortue project have been reduced to
around $180 million, with the remaining cash calls on the Greater Tortue project
for 2021 covered through the proceeds of the sale. The balance of the sale
proceeds, as well as the additional savings from the transfer of the remaining
FPSO construction payments to BP Buyer, are expected to be largely realized in
2022. Through September 30, 2021, we have spent approximately $169.2 million of
capital expenditures related to Mauritania and Senegal.
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In relation to the additional capital expenditures associated with the
additional acquired interests in Ghana, certain joint venture partners have
pre-emption rights under the Deepwater Tano Block Joint Operating Agreement
that, if fully exercised, could reduce our ultimate interest in the Jubilee Unit
Area by 3.8% to 38.3%, and our ultimate interest in the TEN fields by 8.3% to
19.8%. This pre-emption right exists until November 12, 2021 and, if exercised,
will reduce our capital expenditures associated with the additional acquired
interests.
The ultimate amount of capital we will spend may fluctuate materially based on
market conditions and the success of our exploitation and drilling results among
other factors. Our future financial condition and liquidity will be impacted by,
among other factors, our level of production of oil and the prices we receive
from the sale of oil, our ability to effectively hedge future production
volumes, the success of our multi-faceted infrastructure-led exploration and
appraisal drilling programs, the number of commercially viable oil and natural
gas discoveries made and the quantities of oil and natural gas discovered, the
speed with which we can bring such discoveries to production, our partners'
alignment with respect to capital plans, and the actual cost of exploitation,
exploration, appraisal and development of our oil and natural gas assets, and
coverage of any claims under our insurance policies.
Significant Sources of Capital

Establishment


The Facility supports our oil and gas exploration, appraisal and development
programs and corporate activities. As of September 30, 2021, borrowings under
the Facility totaled $1.15 billion and the undrawn availability under the
facility was $85.2 million (limited by current commitments). In May 2021, the
Company entered into an amended and restated facility agreement and certain
ancillary documents. The amendments to the terms of the Facility included the
following:

• the extension of the two-year maturity (the final expiry now comes on March, 31st, 2027),


•the extension of the amortization schedule such that amortization of principal
is to commence on March 31, 2024 and continue in equal amounts every six months
thereafter until the maturity date,

• an increase in the interest margin of 0.5% (the interest margin applicable for the first three years is now LIBOR + 3.75%),

• the incorporation of a mechanism for two key ESG performance indicators (“KPIs”) in order to have a positive or negative impact on the interest margin depending on the achievement of emissions targets and the achievement of certain third-party ESG ratings,

• an increase in the Loan Life Coverage Ratio from 1.10x to 1.30x after March 31, 2024,


•the removal of Kosmos Energy Investments Senegal Limited, Kosmos Energy Senegal
and Kosmos Energy Mauritania as borrowers, guarantors and pledged subsidiaries,
and

• a reduction in the size of the installation to $ 1.25 billion (of $ 1.5 billion).


As amended, the Facility has an available borrowing base of approximately
$1.24 billion. As part of the amendment, the Company incurred $15.2 million for
loss on extinguishment of debt during the second quarter of 2021. During the
September 2021 redetermination, the Company's lending syndicate approved a
borrowing base capacity in excess of the facility size of $1.25 billion.

When our net leverage ratio exceeds 2.50x, we are required under the Facility to
maintain a restricted cash balance that is sufficient to meet the payment of
interest and fees for the next six-month period on the 7.125% Senior Notes and
the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever
is greater. As of September 30, 2021 we have restricted cash of approximately
$42.9 million to meet our requirements.

As a result of the impact of COVID-19 on the demand for oil and the related
significant decrease in oil prices, our ability to comply with one of our
financial covenants, the debt cover ratio, may be impacted in future periods.
Therefore, in July 2020, we proactively worked with our lender group, prior to
any inability to comply with the financial covenants thereunder, to amend the
debt cover ratio calculation through December 31, 2021. The amendment makes this
covenant less restrictive during the stated period up to a maximum of 4.75x and
thereafter gradually returns to the originally agreed upon ratio of 3.5x. We
were in compliance with the financial covenants as of the most recent assessment
date. The Facility, as amended, contains customary cross default provisions.

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Corporate Revolver

In August 2018, we amended and restated the Corporate Revolver maintaining the
borrowing capacity at $400.0 million, extending the maturity date from November
2018 to May 2022 and lowering the margin to 5%. This results in lower commitment
fees on the undrawn portion of the total commitments, which is 30% per annum of
the respective margin. The Corporate Revolver is available for general corporate
purposes and for oil and gas exploration, appraisal and development programs. As
of September 30, 2021, there were no outstanding borrowings under the Corporate
Revolver and the undrawn availability was $400.0 million.

As a result of the impact of COVID-19 on the demand for oil and the related
significant decrease in oil prices, our ability to comply with one of our
financial covenants, the debt cover ratio, may be impacted in future periods.
Therefore, in July 2020, we proactively worked with our lender group, prior to
any inability to comply with the financial covenants thereunder, to amend the
debt cover ratio calculation through December 31, 2021. The amendment makes this
covenant less restrictive during the stated period up to a maximum of 4.75x and
thereafter gradually returns to the originally agreed upon ratio of 3.5x. We
were in compliance with the financial covenants as of the most recent assessment
date. The Corporate Revolver contains customary cross default provisions.

7.125% senior securities maturing in 2026


In April 2019, the Company issued $650.0 million of 7.125% Senior Notes and
received net proceeds of approximately $640.0 million after deducting fees and
other expenses. We used the net proceeds to redeem all of the previously issued
7.875% Senior Secured Notes due 2021, repay a portion of the outstanding
indebtedness under the Corporate Revolver and pay fees and expenses related to
the redemption, repayment and the issuance of the 7.125% Senior Notes.

The 7.125% Senior Notes mature on April 4, 2026. Interest is payable in arrears
each April 4 and October 4, commencing on October 4, 2019. The 7.125% Senior
Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in
right of payment with all of its existing and future senior indebtedness
(including all borrowings under the Corporate Revolver and the 7.500% Senior
Notes) and rank effectively junior in right of payment to all of its existing
and future secured indebtedness (including all borrowings under the Facility)
and all borrowings under the GoM Term Loan. The 7.125% Senior Notes are
guaranteed on a senior, unsecured basis by certain subsidiaries owning the
Company's U.S. Gulf of Mexico assets, and on a subordinated, unsecured basis by
certain subsidiaries that guarantee the Facility. We were in compliance with the
financial covenants contained in the 7.125% Senior Notes as of September 30,
2021. The 7.125% Senior Notes contain customary cross default provisions.

7.500% senior notes due 2028


In March 2021, the Company issued $450.0 million of 7.500% Senior Notes and
received net proceeds of approximately $444.4 million after deducting fees. We
used the net proceeds to repay outstanding indebtedness under the Corporate
Revolver and the Facility, to pay expenses related to the issuance of the 7.500%
Senior Notes and for general corporate purposes.
The 7.500% Senior Notes mature on March 1, 2028. Interest is payable in arrears
each March 1 and September 1, commencing on September 1, 2021. The 7.500% Senior
Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in
right of payment with all of its existing and future senior indebtedness
(including all borrowings under the Corporate Revolver and the 7.125% Senior
Notes) and rank effectively junior in right of payment to all of its existing
and future secured indebtedness (including all borrowings under the Facility)
and all borrowings under the GoM Term Loan. The 7.500% Senior Notes are
guaranteed on a senior, unsecured basis by certain subsidiaries owning the
Company's U.S. Gulf of Mexico assets, and on a subordinated, unsecured basis by
certain subsidiaries that borrow under, or guarantee, the Facility and, on a
subordinated basis, guarantee the Corporate Revolver and the 7.125% Senior
Notes.
The 7.500% Senior Notes indenture restricts the ability of the Company and its
restricted subsidiaries to, among other things: incur or guarantee additional
indebtedness, create liens, pay dividends or make distributions in respect of
capital stock, purchase or redeem capital stock, make investments or certain
other restricted payments, sell assets, enter into agreements that restrict the
ability of the Company's subsidiaries to make dividends or other payments to the
Company, enter into transactions with affiliates, or effect certain
consolidations, mergers or amalgamations. Certain of these covenants will be
terminated if the 7.500% Senior Notes are assigned an investment grade rating by
both Standard & Poor's Rating Services and Fitch Ratings Inc. and no default or
event of default has occurred. We were in compliance with the financial
covenants contained in the 7.500% Senior Notes as of September 30, 2021. The
7.500% Senior Notes contain customary cross default provisions.
                                       44
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Production Prepayment Agreement

In June 2020, the Company received $50.0 million from Trafigura under a
Production Prepayment Agreement of crude oil sales related to a portion of our
U.S. Gulf of Mexico production primarily in 2022 and 2023. The Company
terminated the Production Prepayment Agreement and the initial prepayment of
$50.0 million advanced under the Production Prepayment Agreement by Trafigura in
the second quarter of 2020 was extinguished and converted into the GoM Term Loan
as of September 30, 2020.

GoM Term Loan

In September 2020, the Company entered into a five-year $200.0 million senior
secured term-loan credit agreement secured against the Company's U.S. Gulf of
Mexico assets with net proceeds received of $197.7 million after deducting fees
and other expenses. The GoM Term Loan also includes an accordion feature
providing for incremental commitments of up to $100.0 million subject to certain
conditions. The GoM Term Loan bears interest at an effective rate of
approximately 6% per annum and matures in 2025, with principal repayments
beginning in the fourth quarter of 2021. We were in compliance with the
covenants, representations and warranties contained in the GoM Term Loan as of
as of September 30, 2021 (the most recent assessment date). The GoM Term Loan
contains customary cross default provisions.

Contractual obligations


The following table summarizes by period the payments due for our estimated
contractual obligations as of September 30, 2021 and the weighted average
interest rates expected to be paid on the Facility, Corporate Revolver and GoM
Term Loan given current contractual terms and market conditions, and the
instrument's estimated fair value. Weighted-average interest rates are based on
implied forward rates in the yield curve at the reporting date. This table does
not include amortization of deferred financing costs.
                                                                                                                                                                                 Asset
                                                                                                                                                                              (Liability)
                                                                                                                                                                             Fair Value at
                                                                                         Years Ending December 31,                                                           September 30,
                                       2021(2)            2022               2023               2024               2025             Thereafter             Total                  2021
                                                                                                (In thousands, except percentages)
Fixed rate debt:
7.125% Senior Notes                   $     -          $      -          $  

– $ – $ – $ 650,000 $ 650,000 $ (637,728)
7.500% senior notes

                         -                 -                  -                  -                  -              450,000              450,000               (436,905)

Variable rate debt:
Weighted average interest rate
on variable rate debt                    4.22  %           4.26  %            4.63  %            5.36  %            5.77  %              6.38  %
Facility(1)                           $     -          $      -          $ 112,621          $ 207,834          $ 300,192          $   529,353          $ 1,150,000          $  (1,150,000)

GoM Term Loan                           7,500            30,000             30,000             30,000            102,500                    -              200,000               (200,000)
Total principal debt
repayments(1)                         $ 7,500          $ 30,000          $ 142,621          $ 237,834          $ 402,692          $ 1,629,353          $ 2,450,000
Interest & commitment fee
payments on long-term debt             39,498           140,981            140,117            138,484            124,287              133,143              716,510
Operating leases                          426             3,932              4,075              4,146              4,217               15,161               31,957

__________________________________


(1)The amounts included in the table represent principal maturities only. The
scheduled maturities of debt related to the Facility are based on the level of
borrowings and the available borrowing base as of September 30, 2021. Any
increases or decreases in the level of borrowings or increases or decreases in
the available borrowing base would impact the scheduled maturities of debt
during the next five years and thereafter.
(2)Represents the period October 1, 2021 through December 31, 2021.
                                       45
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The table above does not include purchase commitments for jointly owned fields
and facilities where we are not the operator and excludes commitments for
exploration activities, including well commitments and seismic obligations, in
our petroleum contracts. The Company's liabilities for asset retirement
obligations associated with the dismantlement, abandonment and restoration costs
of oil and gas properties are not included. See Note 14 - Additional Financial
Information for additional information regarding these liabilities.
We currently have a commitment to drill one exploration well in Mauritania and a
$200.2 million FPSO Contract Liability related to the deferred sale of the
Greater Tortue FPSO.

Off-balance sheet provisions


We may enter into off-balance sheet arrangements and transactions that can give
rise to material off-balance sheet obligations. As of September 30, 2021, our
off-balance sheet arrangements and transactions include short-term operating
leases and undrawn letters of credit. There are no other transactions,
arrangements, or other relationships with unconsolidated entities or other
persons that are reasonably likely to materially affect Kosmos' liquidity or
availability of or requirements for capital resources.

Critical accounting policies


We consider accounting policies related to our revenue recognition, exploration
and development costs, receivables, income taxes, derivative instruments and
hedging activities, estimates of proved oil and natural gas reserves, asset
retirement obligations, leases and impairment of long-lived assets as critical
accounting policies. The policies include significant estimates made by
management using information available at the time the estimates are made.
However, these estimates could change materially if different information or
assumptions were used. Other than items discussed in Note 2 - Accounting
Policies, there have been no changes to our critical accounting policies which
are summarized in "Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations" section in our annual report on Form 10-K,
for the year ended December 31, 2020.

Caution Regarding Forward-Looking Statements


This quarterly report on Form 10-Q contains estimates and forward-looking
statements, principally in "Management's Discussion and Analysis of Financial
Condition and Results of Operations." Our estimates and forward-looking
statements are mainly based on our current expectations and estimates of future
events and trends, which affect or may affect our businesses and operations.
Although we believe that these estimates and forward-looking statements are
based upon reasonable assumptions, they are subject to several risks and
uncertainties and are made in light of information currently available to us.
Many important factors, in addition to the factors described in our quarterly
report on Form 10-Q and our annual report on Form 10-K, may adversely affect our
results as indicated in forward-looking statements. You should read this
quarterly report on Form 10-Q, the annual report on Form 10-K and the documents
that we have filed with the Securities and Exchange Commission completely and
with the understanding that our actual future results may be materially
different from what we expect. Our estimates and forward-looking statements may
be influenced by the following factors, among others:

•the impact of the COVID-19 pandemic on the Company and the overall business
environment;
•our ability to find, acquire or gain access to other discoveries and prospects
and to successfully develop and produce from our current discoveries and
prospects;
•uncertainties inherent in making estimates of our oil and natural gas data;
•the successful implementation of our and our block partners' prospect discovery
and development and drilling plans;
•projected and targeted capital expenditures and other costs, commitments and
revenues;
•termination of or intervention in concessions, rights or authorizations granted
to us by the governments of the countries in which we operate (or their
respective national oil companies) or any other federal, state or local
governments or authorities;
•our dependence on our key management personnel and our ability to attract and
retain qualified technical personnel;
•the ability to obtain financing and to comply with the terms under which such
financing may be available;
•the volatility of oil, natural gas and NGL prices, as well as our ability to
implement hedges addressing such volatility on commercially reasonable terms;
•the availability, cost, function and reliability of developing appropriate
infrastructure around and transportation to our discoveries and prospects;
•the availability and cost of drilling rigs, production equipment, supplies,
personnel and oilfield services;
                                       46

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  Table of Contents
•other competitive pressures;
•potential liabilities inherent in oil and natural gas operations, including
drilling and production risks and other operational and environmental risks and
hazards;
•current and future government regulation of the oil and gas industry or
regulation of the investment in or ability to do business with certain countries
or regimes;
•cost of compliance with laws and regulations;
•changes in, or new, environmental, health and safety or climate change or GHG
laws, regulations and executive orders, or the implementation, or
interpretation, of those laws, regulations and executive orders;
•adverse effects of sovereign boundary disputes in the jurisdictions in which we
operate;
•environmental liabilities;
•geological, geophysical and other technical and operations problems, including
drilling and oil and gas production and processing;
•military operations, civil unrest, outbreaks of disease, terrorist acts, wars
or embargoes;
•the cost and availability of adequate insurance coverage and whether such
coverage is enough to sufficiently mitigate potential losses and whether our
insurers comply with their obligations under our coverage agreements;
•our vulnerability to severe weather events, including tropical storms and
hurricanes in the Gulf of Mexico;
•our ability to meet our obligations under the agreements governing our
indebtedness;
•the availability and cost of financing and refinancing our indebtedness;
•the amount of collateral required to be posted from time to time in our hedging
transactions, letters of credit, performance bonds and other secured debt;
•the result of any legal proceedings, arbitrations, or investigations we may be
subject to or involved in;
•our success in risk management activities, including the use of derivative
financial instruments to hedge commodity and interest rate risks; and
•other risk factors discussed in the "Item 1A. Risk Factors" section of our
quarterly reports on Form 10-Q and our annual report on Form 10-K.

The words "believe," "may," "will," "aim," "estimate," "continue," "anticipate,"
"intend," "expect," "plan" and similar words are intended to identify estimates
and forward-looking statements. Estimates and forward-looking statements speak
only as of the date they were made, and, except to the extent required by law,
we undertake no obligation to update or to review any estimate and/or
forward-looking statement because of new information, future events or other
factors. Estimates and forward-looking statements involve risks and
uncertainties and are not guarantees of future performance. As a result of the
risks and uncertainties described above, the estimates and forward-looking
statements discussed in this quarterly report on Form 10-Q might not occur, and
our future results and our performance may differ materially from those
expressed in these forward-looking statements due to, including, but not limited
to, the factors mentioned above. Because of these uncertainties, you should not
place undue reliance on these forward-looking statements.

© Edgar online, source Previews


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How to Build a Successful Trucking Business https://bcn-stay.com/how-to-build-a-successful-trucking-business/ https://bcn-stay.com/how-to-build-a-successful-trucking-business/#respond Sun, 31 Oct 2021 17:29:10 +0000 https://bcn-stay.com/how-to-build-a-successful-trucking-business/ “Don’t ask yourself what the world needs. Ask yourself what makes you live and do it. Because what the world needs are people who have come to life. – Howard Thurman More than 3,140 trucking companies closed their doors last year. Typically, about 85-90% of start-up trucking companies fail. It is not always easy to […]]]>

“Don’t ask yourself what the world needs. Ask yourself what makes you live and do it. Because what the world needs are people who have come to life. – Howard Thurman

More than 3,140 trucking companies closed their doors last year.

Typically, about 85-90% of start-up trucking companies fail.

It is not always easy to run a business, but it is especially difficult in the competitive transportation industry. As my business nears 10 years, I am excited to share some of the key factors that have made DVL Express one of the fastest growing 5000 Inc. companies in the United States.

The philosophy

Whether you are a driver or a customer, the first question everyone asks is always: “What is this company about?” The first answer to this question for me is growth. It is so fascinating to be surrounded by people who are zealous for more in life. A “cringe for growth” attitude is contagious and will spread to others.

One of the unique things we instituted to help our drivers grow was a driver development program. We train drivers to become better professionally on the path that works best for them. If a driver wants to become the best OTR or local driver, we have steps to make it happen with our Progressive Incentive compensation structure. If a driver wishes to tow another type of trailer, we offer an in-house training program. If a driver wants to become a tenant-operator or owner-operator, we have a program for that as well. I want it to mean something to put DVL Express on a CV because it shows the driver was well equipped.

The second answer to this question is the house.

With drivers from over 20 countries it is especially important for me to make my employees feel at home. I want to show my drivers that they are more than just a number. I want to know their dreams and desires. I want to know what is going on in their daily life. I find that when you treat people the way they want to be treated, they work harder for you. Think about how you would like to be treated as a driver and give them that.

Finally is the goal. If people are a part of something bigger than themselves, they’ll love the job they do. Every kilometer traveled helps to make the world a better place. Currently we are working on a children’s school / orphanage in Ukraine. In the past, we have done projects such as building churches, cleaning plastic from the ocean and others.

Skills

The greatest philosophies in the world won’t matter if you’re not good at your craft. Fast food restaurant Chick-fil-A consistently ranks first in restaurant surveys, and the CEO says that’s because they invest more than other companies in training and career advancement.

When it comes to compensation, most companies in this industry are very open to gross payouts and the RPMs they offer. Strive to be a leader in this category, even if it doesn’t make sense on paper at first. If someone thinks you have their best interests at heart, they’ll come through a wall for you. What you offer in terms of money is the first indicator of your interest in yourself or your drivers.

Keeping up with the times is another important task. Technologies are evolving faster than ever. Develop an app for drivers, order electric trucks, use a Samsara system or some other type of dashcam. All of these things will help improve customer service for both drivers and customers.

The strategy

Setting realistic short-term goals is the foundation of growth and competence. How do I instill a growth mindset in my drivers? The first goal for me was to create a comprehensive program where drivers or customers can decide what they want, and we provide the steps to make it happen. This involved fleet service, security, accounting and dispatch operations as I needed specialists who could train in these areas.

The second goal was to make a few additions that would make our original base more valuable to our drivers and customers. That’s why we launched Markham Truck Center, our in-house truck repair center. We also launched Unibox Warehouse, our on-site warehouse. I am always looking for ways to add value for my drivers and clients.

The strategy will depend on the philosophy. I want my drivers to grow up, to feel like we are a home from home, and to drive with purpose. So my goals are set according to this philosophy.

The why”

Answer the question “what is your why?” May be the last here – but it’s the first that a future business owner should consider. We decided from the start that our WHY statement is: “we exist to change the way the world views the trucking industry”.

I have heard that people often say that DVL Express is like Google in trucking. This tells me that we are heading in the right direction. For every person and business, there will come a time when a choice must be made between several good options. The only way to know how to choose what’s best for you is to look at the options based on why.

It won’t be easy, and there will be times when giving up seems like the best option. Let the struggle make you stronger. Trucking is not for everyone, but the lessons learned in this industry will correlate with all avenues in life and make you a better person for your spouse, friends and children. Overall, if you strive to be the best that you can be, things will be fine for everyone involved.

Alexander Dovgal is the founder of DVL Express along with 11 other companies. He has dedicated himself to improving the transportation industry with technological solutions, as well as helping people achieve mental and physical health.


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How Tesla Made $ 175 Billion In Value From Hertz’s $ 4 Billion Order https://bcn-stay.com/how-tesla-made-175-billion-in-value-from-hertzs-4-billion-order/ https://bcn-stay.com/how-tesla-made-175-billion-in-value-from-hertzs-4-billion-order/#respond Tue, 26 Oct 2021 18:38:00 +0000 https://bcn-stay.com/how-tesla-made-175-billion-in-value-from-hertzs-4-billion-order/ Text size Tesla has secured an order for 100,000 vehicles from Hertz. Joe Raedle / Getty Images Tesla’s successful order from Hertz again boosted the electric vehicle pioneer’s stock on Tuesday, as well as its market capitalization. Today, Tesla is valued at over $ 1,000 billion, an increase of $ 175 billion in about 24 […]]]>

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Global Ship Leasing Market 2021 Financial Outlook, Business Growth Strategies, Trends https://bcn-stay.com/global-ship-leasing-market-2021-financial-outlook-business-growth-strategies-trends/ https://bcn-stay.com/global-ship-leasing-market-2021-financial-outlook-business-growth-strategies-trends/#respond Sat, 23 Oct 2021 21:14:19 +0000 https://bcn-stay.com/global-ship-leasing-market-2021-financial-outlook-business-growth-strategies-trends/ Detailed study and analysis of the Global Ship rental market highlights new trends in the ship rental industry and provides businesses with business information. This study helps manufacturers, suppliers and investors, CEOs to identify opportunities and business optimization strategies to improve their value in the global vessel rental market. Provides important information for well-known companies […]]]>

Detailed study and analysis of the Global Ship rental market highlights new trends in the ship rental industry and provides businesses with business information. This study helps manufacturers, suppliers and investors, CEOs to identify opportunities and business optimization strategies to improve their value in the global vessel rental market. Provides important information for well-known companies which are one of the top performing companies. The report provides comprehensive coverage of existing and potential markets as well as an assessment of competitiveness under changing market scenarios.

The report also presents data in the form of charts, tables, and figures along with contact details and business contact details for the major market players in the global market. There is a detailed overview of the competitive landscape of the global ship rental industry, with all the information gathered and in-depth through SWOT analysis. Opportunities for potential industrial growth were discovered and the competition risks involved were also structured.

Get a FREE copy of this report with charts and graphs at: https://reportsglobe.com/download-sample/?rid=309650

The segmentation chapters allow the readers to understand aspects of the market such as its products, available technology, and applications. These chapters are written to describe their development over the years and the course they are likely to take in the years to come. The research report also provides detailed information on new trends that could define the development of these segments in the coming years.

Segmentation of the vessel rental market:

Vessel Rental Market, By Application (2016-2027)

  • Container ship
  • Bulk carrier
  • O

Vessel Rental Market, By Product (2016-2027)

  • Periodic rental
  • Bare boat rental
  • Real-time lease
  • O

Main players operating in the ship rental market:

  • Hamburg Commercial Bank
  • First vessel rental contract
  • by Galbraith
  • Bank of Communications leasing
  • ICBC Leasing
  • Minsheng Leasing
  • CMB leasing
  • CCB Leasing
  • Global ship lease
  • Mom

Company Profiles – This is a very important section of the report which contains accurate and detailed profiles for the major players in the global vessel rental market. It provides information on core business, markets, gross margin, revenue, price, production, and other factors that define the market development of the players studied in the Vessel Rental Market report.

Global Ship Rental Market: Regional Segments

Different sections on regional segmentation give regional aspects of the global ship rental market. This chapter describes the regulatory structure likely to have an impact on the entire market. It highlights the political landscape of the market and predicts its influence on the worldwide ship rental market.

  • North America (United States, Canada)
  • Europe (Germany, United Kingdom, France, rest of Europe)
  • Asia Pacific (China, Japan, India, rest of Asia-Pacific)
  • Latin America (Brazil, Mexico)
  • Middle East and Africa

Get up to 50% off this report at: https://reportsglobe.com/ask-for-discount/?rid=309650

The objectives of the study are:

  1. To analyze the global vessel rental status, future forecast, growth opportunities, key market and major players.
  2. – Present the development of Ship Rental in North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
  3. Draw up a strategic profile of the main players and analyze in depth their development plan and strategies.
  4. To define, describe, and forecast the market by product type, market applications, and key regions.

This report includes the market size estimate for Value (Million USD) and Volume (K units). Top-down and bottom-up approaches have been used to estimate and validate the market size of the Boat Rental market, to estimate the size of various other dependent submarkets in the overall market. Major market players were identified by secondary research, and their market shares were determined by primary and secondary research. All percentages, divisions and distributions were determined using secondary sources and verified primary sources.

Some important points from the table of contents:

Chapter 1. Research methodology and data sources

Chapter 2. Executive summary

Chapter 3. Ship Rental Market: Industry Analysis

Chapter 4. Ship Rental Market: Product Overview

Chapter 5. Ship Rental Market: Application Information

Chapter 6. Ship rental market: regional insights

Chapter 7. Ship rental market: competitive landscape

Ask your questions about personalization to: https://reportsglobe.com/need-customization/?rid=309650

How Reports Globe is different from other market research providers:

The creation of Reports Globe was supported by providing clients with a holistic view of market conditions and future possibilities / opportunities to derive maximum profit from their businesses and assist in decision making. Our team of in-house analysts and consultants work tirelessly to understand your needs and come up with the best possible solutions to meet your research needs.

Our Reports Globe team follows a rigorous data validation process, which allows us to publish editor reports with minimal or no deviation. Reports Globe collects, separates and publishes more than 500 reports per year covering products and services in many fields.

Contact us:

Mr. Mark Willams

Account Manager

United States: + 1-970-672-0390

E-mail: [email protected]

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City council candidate Kendra Hicks calls out her experience of rent issues as part of larger affordable housing issue https://bcn-stay.com/city-council-candidate-kendra-hicks-calls-out-her-experience-of-rent-issues-as-part-of-larger-affordable-housing-issue/ https://bcn-stay.com/city-council-candidate-kendra-hicks-calls-out-her-experience-of-rent-issues-as-part-of-larger-affordable-housing-issue/#respond Fri, 22 Oct 2021 21:35:31 +0000 https://bcn-stay.com/city-council-candidate-kendra-hicks-calls-out-her-experience-of-rent-issues-as-part-of-larger-affordable-housing-issue/ Hicks, a 32-year-old community organizer and artist who received mentions from Senator Edward J. Markey and Rep. Ayanna Pressley of Boston, is running for the seat vacated by Matt O’Malley, a 10-year veteran of the Jamaica Plain board who is not seeking re-election. This is the first time she has applied for a public office. […]]]>

Hicks, a 32-year-old community organizer and artist who received mentions from Senator Edward J. Markey and Rep. Ayanna Pressley of Boston, is running for the seat vacated by Matt O’Malley, a 10-year veteran of the Jamaica Plain board who is not seeking re-election. This is the first time she has applied for a public office. Her opponent in the all-around competition is Mary Tamer, a former member of the West Roxbury School Committee.

The municipal district includes Jamaica Plain and West Roxbury, as well as parts of Roslindale, Roxbury and Mission Hill. The District 6 race recently erupted in controversy, when a letter sent by the Tamer campaign featured an image of Hicks that sparked outrage and accusations of racism. On the flyer, Hicks, who is black, was in black and white, while Tamer, who is Arab-American, was in color.

Hicks has spoken publicly about his experience with rent issues, tweet after an affordable housing event earlier this month, “as a deportee and housing insecurity, #politicalpersonal. In a text Thursday, Hicks said she had spoken publicly about the matter often, but couldn’t say exactly how many times.

The Tamer campaign declined to comment for this story.

In 2019, there was a detailed paper trail detailing how Hicks’ current owner, Bell Olmsted Park LLC., Has tried to chase her away. In February, for example, legal documents from the landlord’s attorney indicated that her tenancy would be terminated 30 days from the date she received the notice due to over $ 2,500 in overdue rents.

The efforts culminated in June when Hicks received an eviction notice, issued by a police officer, informing her that she had 48 hours to vacate the property. Two days later, Hicks wrote in sworn court documents that she had already paid off rent for April and May. She has pledged to pay her June rent in full for her apartment at 161 South Huntington Ave., where she currently lives, by the middle of the month.

In this case, Hicks told The Globe that she had tried to pay her rent in full, but the management company claimed it never received her check, which she says it mailed. She said she filed a bank letter in court confirming her attempted payment. Rent was paid in full on top of “unnecessary legal fees, which could have been avoided if they had waited a few days for the check to arrive,” Hicks said.

In early 2020, before the COVID-19 pandemic gripped the region, another eviction complaint was filed in housing court against Hicks. Again, this concerned the alleged non-payment of rent for his Jamaican Plain unit; the landlord claimed that over $ 2,534 was owed.

Shortly after that case was brought to court, she paid the rent she owed and the case was dismissed at the landlord’s request, Hicks said.

And just last August, her landlord sent a notice to her apartment, stating that the rental of the unit would be terminated 30 days after the notice of non-payment of $ 1,443 in rent, according to city documents.

Mandatory nonprofit filings with state attorney general’s office show Hicks won over $ 80,000 as co-director of radical philanthropy for Resist Inc. in 2020. Hicks said her gross household income was $ 93,000 last year.

Hicks’ unit is subject to income restrictions; it is tied to a regional median income cap, or MOI, that households are not expected to exceed.

Hicks said she had to recertify her eligibility to renew her lease each December and acknowledged in her statement that this year, “it is likely that our family will not meet the income criteria, and we will have to find new housing in there. ‘expiration of our lease “.

In October 2013, a similar story of rent problems appeared to be playing out in Braintree, according to documents filed in Quincy District Court. At that time, the owner of Hicks stated that she intended to end the rental and she should vacate her apartment no later than December 1 of the same year.

In the Braintree case, Hicks said she was “fleeing a situation of domestic violence” and paid the part of the rent she could pay at the time. She eventually made a deal with the landlord to move out and pay $ 550 in rent back.

Some housing advocates say eviction proceedings such as those experienced by Hicks should not have negative connotations for tenants, including any candidacy for public office.

The system, in many ways, is broken and racist, said City Councilor Lydia Edwards, a former housing lawyer who now owns a home, speaks in general about the state’s eviction processes. Edwards did not support anyone in the Hicks board race.

Black women in Massachusetts are 2.5 times more likely to be deported than white women, she said. This statistic doesn’t mean that black women are more likely to be bad renters, Edwards said, but it does mean they’re “less likely to benefit from a softer landing in our system today.”

“Other groups facing a level playing field are more likely to have a second or third chance, more time, resources and negotiated deals than black women,” Edwards said.

Another systemic failure of the eviction process is that eviction records are public and permanent, said Edwards, who is currently running for a seat in the state Senate. Edwards prefers to seal certain eviction cases, especially documents that do not reflect a judgment in a case.

“Someone who has something to do with them doesn’t mean anything,” she said.

Massachusetts, she said, should take a closer look “at how this system punishes people for the rest of their lives.” … It’s cruel.

Meanwhile, a trio of lawyers from Greater Boston Legal Services recently said in a joint statement that they “strongly disagreed with any implication that an eviction should disqualify someone from holding office. public “.

“Here in Boston, research shows evictions are disproportionately occurring in communities of color and evictions during the pandemic have deepened pre-existing and stark racial disparities in the housing market,” they said in a statement. .

Hicks topped the preliminary contest in September, garnering 49% of the vote against 43% for Tamer. Winnie AI Eke came in third with 6% and was eliminated. About 18,400 people voted in these preliminaries.


Danny McDonald can be contacted at daniel.mcdonald@globe.com. Follow him on twitter @Danny__McDonald.



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Seritage announces the inauguration of its first Premier project https://bcn-stay.com/seritage-announces-the-inauguration-of-its-first-premier-project/ https://bcn-stay.com/seritage-announces-the-inauguration-of-its-first-premier-project/#respond Wed, 20 Oct 2021 11:22:00 +0000 https://bcn-stay.com/seritage-announces-the-inauguration-of-its-first-premier-project/ Monday afternoon, Seritage Growth Properties (NYSE: SRG) triumphantly announced the inauguration of its first flagship project: The Collection at UTC. CEO Andrea Olshan said: “The opening of Seritage’s first inaugural project is an important step in the transformation of our ongoing portfolio. … The Collection is an exceptional assortment of retail, dining, office and experience […]]]>

Monday afternoon, Seritage Growth Properties (NYSE: SRG) triumphantly announced the inauguration of its first flagship project: The Collection at UTC. CEO Andrea Olshan said: “The opening of Seritage’s first inaugural project is an important step in the transformation of our ongoing portfolio. … The Collection is an exceptional assortment of retail, dining, office and experience destinations, and I applaud the efforts of our leasing, development and investment teams on bringing our vision to life. “

It is true that Seritage has many other retail and mixed-use projects in its redevelopment pipeline. However, investors should not expect this step to be the start of a real turnaround for investors. REIT.

A promising project with many setbacks

Seritage is building The Collection in UTC on the site of a former Sears store adjacent to the Westfield UTC open-air mall in San Diego. Westfield UTC is one of the best malls in the San Diego market and recently received a $ 600 million renovation and expansion.

The Seritage site benefits from the high traffic and amenities of the shopping center, as well as the strong demographics of the surrounding area. It will likely appeal to retailers, restaurants, and entertainment tenants who couldn’t find the right kind of space in the mall itself. The REIT also hopes to expand the collection to UTC with office and residential components in the future.

Thus, this project clearly has great potential for Seritage. But the navigation was not smooth. At the start of 2019, management estimated that the project would be virtually complete by the end of the year. By the end of 2019, Seritage had leased 66.5% of the available space in The Collection from UTC and delivered storefronts to some of the early tenants.

Then the COVID-19 pandemic struck. Three of Seritage’s main tenants at The Collection at UTC were Equinox Fitness, the collaborative company Industrious, and Pinstripes (an upscale bowling-focused entertainment center). All three have been hit hard by the pandemic, and all three appear to have pulled out of the project. As a result, the collection at UTC was only 19.9% ​​leased as of June 30, 2021.

Many tenants who originally signed leases for The Collection at UTC have pulled out. Image source: Seritage Growth Properties.

Not really a big opening

While Seritage used the term “grand opening” in the title of its press release on Monday, only one tenant actually opened this week: the upscale seafood restaurant Pacific Catch. With 4,500 square feet of interior space, Pacific Catch represents just 2% of The Collection’s gross leasable area in UTC.

Seritage has indicated that several additional tenants will gradually open later this quarter and during the first months of 2022. Management also announced that 88% of The Collection at UTC is now “leased or under lease negotiations.”

However, there is a big difference between having a signed lease and having active negotiations. Some of the leases that Seritage is currently negotiating may never materialize. And even when Seritage finalizes other leases, it can take another year or more and require additional capital expenditure to complete tenant-specific construction and secure rent payments.

The same old story

While much of its real estate is of mediocre quality (at best), Seritage Growth Properties has several dozen assets with high potential for redevelopment. Unfortunately, Seritage may not have a good enough track record to capitalize on this potential.

By mid-year, Seritage had only $ 140 million in unearmarked cash. During that time, it burned cash at a rate of about $ 100 million per year, excluding redevelopment expenses. The REIT expects its ongoing redevelopment projects to cost $ 250 million over the next 24 months or so. Seritage will have to sell dozens of less promising properties to fund its short-term cash consumption and those redevelopment expenses. And even after completing all these projects, his cash flow will still be negative.

Perhaps management will be able to design creative financing structures that will allow Seritage to step up the pace of its redevelopment while reducing interest costs. Still, there is no guarantee that the REIT can overcome its weak balance sheet and appalling cash flow. Investors would be better off investing in companies that have a stronger financial footing.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


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