Profile: Cabot - socially responsible energy
Considered to be because of the company’s focus on gas instead of oil and low operating costs, this fortuitous market activity means that CO&G’s first quarter has had a flying start - its strong full-year report for 2019 indicates the company is strong.
"Our 2019 results highlight the strength of our company, which was demonstrated by the generation of record levels for net income,” said Dan O. Dinges, Chairman, President and CEO.
Dinges followed up by stating that CO&G’s continued focus would be to “maintain our financial strength, and return capital to shareholders during these challenging times for the natural gas markets."
Linking CSR with energy
Founded in 1989, CO&G is an independent energy company focusing operations exclusively on onshore developments in the US. Striving to increase value for its shareholders in all of its activities, the company prides itself on its strategic marketing and performance.
However, not just satisfied with being a leader in its sector, CO&G is also a key proponent of ethical, safe and environmentally responsible operations in all of its activities.
Utilising what it calls “unconventional supplies of natural gas”, the company is contributing towards the US’ goal of reducing GHG (greenhouse gas) emissions whilst simultaneously meeting the nation’s increasing energy requirement.
CO&G summarises its approach to Corporate Social Responsibility (CSR) with its bespoke EHS (Environmental, Health and Safety) programme.
The programme includes minimising waste, strict compliance with environmental regulations, developing emergency response procedures, establishing goals and using its sphere of influence to encourage suppliers and partners to do the same.
Making communities stronger
In a display of its commitment to CSR, CO&G became one of the first supporters of the API initiative ‘The Environmental Partnership’, which, among other things, strives to reduce methane and volatile organic compounds in industrial work.
With a mission to make the communities it works in better for it having been there, CO&G promotes air quality monitoring, ensures the integrity of wellbores and seeks to mitigate its wastage in whatever way possible.
The company also pools its knowledge and information regarding the industry to help develop high-standard across the sector, increase operational efficiencies and ensure that regulations are adhered to at all times.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."