EPCOR receives grant to build reclaimed water pipeline
PHOENIX — The Arizona Department of Water Resources has awarded EPCOR USA a $250,000 grant to help build a new reclaimed water pipeline for the benefit of San Tan (formerly Johnson Utilities) customers, agricultural water users, and the San Tan Valley region.
This supports water management goals in the Phoenix Active Management Area by reducing demand for groundwater pumping.
Under the terms of the Lower Colorado Basin Drought Contingency Plan (DCP), Arizona stakeholders agreed to offset Central Arizona Project water reductions to agricultural users by making alternate sources available. EPCOR is the only private water company participating in the DCP Mitigation Agreement.
EPCOR has committed to deliver up to 2,200 acre-feet of reclaimed water annually from the Pecan Wastewater Treatment Plant to the New Magma Irrigation and Drainage District.
Located between Queen Creek and Florence, the NMIDD encompasses approximately 27,000 irrigable acres. EPCOR will deliver highly treated reclaimed water to the district through this new pipeline, the Pecan treatment facility and the NMIDD irrigation system.
The project will partially offset the need for groundwater replenishment from the Central Arizona Groundwater Replenishment District.
FileTrail expands account management team
AUSTIN, Texas — FileTrail announced that the company has hired legal technology industry veteran Bill Belmonte as a senior strategic account manager.
Belmonte joins FileTrail’s growing account management team in North America, which now includes Kurt Anderson, who joined last fall, and Keith Schneider, who joined in March.
Belmonte will be responsible for supporting FileTrail customers in New York City and the Northeastern United States. He brings more than 25 years of experience in legal technology, with extensive experience in document management systems.
Other recent key FileTrail hires in North America include Anderson, a senior strategic account manager who is based in Chicago with responsibility for the Midwestern and Northwestern United States and Canada. Anderson joined FileTrail in October, bringing experience with companies including NetDocuments, Element Technologies and ZERØ.
In addition, Schneider joined FileTrail in March as a senior strategic account manager and will continue to support firms in the Mid-Atlantic/Southeastern and Southern U.S.
Usio continues to be the PayFac platform of choice
SAN ANTONIO — Usio Inc. announced that it has signed a partnership agreement with NextChapter, a leading developer of legal software that provides attorneys with an efficient, intuitive and affordable application to help them better serve their bankruptcy clients.
With the addition of NextChapter, two of the three largest bankruptcy legal software developers have now chosen Usio and its Payfac-in-a-Box™ technology as their electronic payments solution provider.
Targa Resources Partners LP announces results of tender offer for senior notes
HOUSTON — Targa Resources Partners LP, a subsidiary of Targa Resources Corp., announced that its previously announced cash tender offer to purchase any and all of its 5 1/8% senior notes due 2025 expired at 4 p.m. Monday.
As of the expiration time, $152,123,000 aggregate principal amount of the 2025 Notes (31.63%) were validly tendered, which excludes $5,816,000 aggregate principal amount of the 2025 Notes that remain subject to guaranteed delivery procedures.
Targa Resources Partners expected to accept for payment all such 2025 Notes validly tendered and not validly withdrawn in the tender offer and expected to make payment for the notes Tueseday, subject to Targa Resources Partners’ successful completion of its previously announced debt financing transaction.
Concurrently, Targa Resources Partners exercised its right to optionally redeem any 2025 Notes not validly tendered and purchased in the tender offer, conditioned upon and subject to satisfaction of the financing condition.
Contango completes acquisition of Silvertip assets
FORT WORTH, Texas — Contango Oil & Gas Company announced the successful completion of its previously announced acquisition of assets located in the Big Horn, Permian and Powder River Basins.
In accordance with the terms of the purchase and sale agreement, Contango acquired these assets for $58 million, subject to customary purchase price adjustments and an Aug. 1, 2020, effective date.
EPCOR USA completes Johnson Utilities acquisition
PHOENIX — EPCOR Water Arizona Inc., a subsidiary of EPCOR USA Inc., has acquired the assets and operations of Johnson Utilities LLC.
Regulatory approval for the transfer of ownership was received from the Arizona Corporation Commission on Dec. 22. The financial transaction and transfer of ownership from Johnson Utilities to EPCOR was completed Jan. 29.
Recognizing the potential of the San Tan Valley, George Johnson founded Johnson Utilities in 1997. Under George Johnson’s ownership of Johnson Utilities, the area experienced significant growth.
Now known as the San Tan water and wastewater districts, EPCOR’s newest service areas are located southeast of the greater metropolitan Phoenix area and anchor the Arizona Sun Corridor connecting the Phoenix and Tucson metropolitan areas.
The ACC appointed EPCOR interim manager of Johnson Utilities in August 2018, and the company has worked to enhance service and reliability, address public health issues and improve customer satisfaction.
More than $138 million in infrastructure improvements are still necessary over the next three years, including the construction of a new treatment facility and the expansion of another.
United States Lime & Minerals reports financial results
DALLAS — United States Lime & Minerals Inc. reported fourth-quarter and full-year results, including the following:
• Revenues in the fourth quarter were $41 million, compared to $38 million in the fourth quarter 2019, an increase of $3.0 million, or 8.0%.
• For the full year, the company’s revenues were $160.7 million, compared to $158.3 million in the full year 2019, an increase of $2.4 million, or 1.5%.
• Carthage Crushed Limestone, which the company acquired July 1, contributed $2.3 million and $4.6 million to the company’s revenues for the fourth quarter and full year, respectively.
The increase in Company revenues in the fourth quarter, compared to the fourth quarter 2019, resulted primarily from increased sales of the company’s lime and limestone products, principally due to the addition of limestone sales by Carthage to agriculture and roofing customers and increased sales to the Company’s construction and roofing customers.
The increase in revenues in the full year, compared to the full year 2019, resulted primarily from increased sales, principally due to the addition of limestone sales by Carthage and increased sales to the company’s construction customers.
Both the fourth quarter and full year revenues were also favorably impacted by increases in the average selling prices for the company’s lime and limestone products.
The Company’s gross profit was $13.2 million in the fourth quarter, compared to $9.8 million in the fourth quarter 2019, an increase of $3.4 million, or 34.8%. Gross profit in the full year was $47.6 million, an increase of $5.9 million, or 14.2%, from $41.7 million in the full year 2019.
In the fourth quarters of 2020 and 2019, the company recognized an impairment charge of $1.6 million ($1.2 million, net of tax) and $0.9 million ($0.7 million, net of tax), respectively.
— Submitted Content