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Daily Archives: May 11, 2017
Why W&T Offshore Shares Dropped 26.4% in April? – Motley Fool
Posted: May 11, 2017 at 1:11 pm
What happened
Shares of oil and gas drillerW&T Offshore(NYSE:WTI) fell throughout April, finishing the month at $2.04 per share, down 26.4%.
W&T is a small company primarily focused on natural gas liquids production in the Gulf of Mexico. In April, its market cap dropped about $100 million to $280 million. Huge swings like that aren't uncommon for small companies, but what was unusual was the apparent lack of rationale for the drop.
W&T Offshore has underperformed the industry over the last ten years. Image source: Getty Images.
There's often some sort of catalyst for a drop like this: a broader market or sector decline, unfavorable industry news, or -- for an energy company -- falling oil or natural gas prices. As you can see from the blue line in the chart below, W&T stock's biggest drop came on April 18:
WTI data by YCharts
But as you can also see from the S&P 500's line on the chart above, there wasn't a broader market decline on that date. There was a bit of a drop in the overall oil and gas sector, but nothing that would account for the severity of W&T's slide. While other oil and gas producers -- particularly smaller ones -- dropped that day, none fell quite so far.
Nor where there any of the sort of company-specific causes one might expect to induce a big stock plunge: no underwhelming earnings report, no analyst downgrade, no unfavorable news coverage.
There was just one lone news item released by the company on April 18: Thomas F. Getten, the company's vice president, general counsel and secretary, who had been withW&T since 2006,retired and was succeeded byShahid A. Ghauri.
It seems inconceivable that such a minor news item could have caused such a pronounced stock slide; it's certainly possible that the timing was just a coincidence. But sometimes even minor news items can have a big impact on small, volatile companies that don't put out a lot of information. So even though it sounds weird, this may have been one of those cases where a piece of minor news had an outsized impact, or just turned a moderate drop into a severe one.
Obviously, you shouldn't buy or sell this stock -- or probably any stock -- based on whether the company's general counsel is retiring. But it goes to show that investors in small, volatile companies -- and W&T is both -- may have to stomach wild stock swings that happen with little or no reason.
As for W&T, the company has underperformed almost its entire industry since oil prices started sliding in 2014, losing more than 86% of its value. And given that it cut its dividend to zero in late 2015, there are better and safer places for your money in the oil patch.
John Bromels has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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Jones Act Could Impede US Offshore Wind Projects – Global Trade Magazine (blog)
Posted: at 1:11 pm
Ocean Carriers
NEW YORK STATE HAS DESIGNATED A 79,000-ACRE AREA OFF OF LONG ISLAND FOR WIND POWER GENERATION: The state has a goal of 35 percent renewables for the electric grid by 2030.
Statoil Wind US, a wind-energy company and subsidiary of the Norwegian mostly government-owned oil company, is looking for projects to invest in the United States.
Statoil is already involved in massive offshore wind energy projects in Europe, one of which will require the deployment of 4,000 vessels to being to fruition.
But because of the Jones Act there are limitations on the vessels we can use in a comparable project in the US, said Knut Aanstad, the companys president. Aanstad suggested that those legislative requirements could impede a company such as his to go all-in on a wind project because of the scale that such a project would require to make it worthwhile. Aanstad spoke speaking at a program on renewable energy at Columbia University in New York last week.
The Jones Act, passed in 1920, prohibits a foreign vessel from transporting merchandise between points in the United States. The act also applies to shipments from points on the North American continent to installations on the Outer Continental Shelf, hence its applicability to offshore wind installations. A violation of the Jones Act may result in the assessment of a civil penalty equal to the value of the merchandise. A waiver may be obtained, under limited circumstances, from the Secretary of Homeland Security.
Although the Trump administration appears to be rolling back renewable energy goals set by former president Barrack Obama, many states and even private utilities have their own renewables programs. New York State has a goal of 35 percent renewables for the electric grid by 2030. In cooperation with the US government, New York State has designated a 79,000-acre area 11 miles off of Long Island for wind power generation. Statoil is a bidder on that project which is in the early permitting stages.
There have been attempts to repeal or reform the Jones Act for decades, all without success. If anything, the pendulum is now swinging in the direction of greater enforcement, with the creation last year within US Customs and Border Protection of the Jones Act Division of Enforcement (JADE). JADE was stood up, primarily, it is presumed, to catch Jones Act violators in the offshore oil and gas industries, but it could just as easily be used in connection with wind farm operators. Just recently the Department of Justice settled a case which included payment by a shipping company of the biggest Jones Act penalty ever, $10 million.
While the Jones Act may be one hurdle, disarray in US government energy policy is probably the biggest challenge for producers like Statoil. The greatest danger to business is the lack of predictability, said Aanstad. The market needs clarity to see when and where capacity needs to be made available.
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Jones Act Could Impede US Offshore Wind Projects - Global Trade Magazine (blog)
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1908 | A Harrowing Maritime Rescue, Told From the High Seas – New York Times
Posted: at 1:11 pm
New York Times | 1908 | A Harrowing Maritime Rescue, Told From the High Seas New York Times More than a dozen crew members who tried to escape on Sunday perished when their lifeboat was swamped by the high seas. And St. Cuthbert was still ablaze. Now at last 200 miles off Cape Sable, Nova Scotia Cymric had arrived providentially. |
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‘Cooper’s Treasure’: Darrell Miklos hits high seas in search for riches-after flat broke dad hits him up for $200! – Fox News
Posted: at 1:11 pm
Darrell Miklos seemed to be getting closer in his long quest to find an ancient shipwreck tied to Christopher Columbus.
On Tuesday's episode of "Cooper's Treasure" on Discovery Channel, adventurer Miklos finally hit the high seas after days struggling to put together a reliable crew and get a search permit.
But while Miklos felt on the verge of exciting discoveries, his former adventurer father Roger hit him up for money to pay his electric bill!
As show viewers know, Miklos, who befriended the late Gordon "Gordo" Cooper, one of NASA's seven original Mercury astronauts, said that Cooper had observed what he believed were shipwrecks from low Earth orbit.
Cooper left Miklos maps and other information about possible sites and the adventurer decided to use it to find long-lost treasure.
On the new episode, Miklos met the minister of foreign affairs for Turks and Caicos to request a permit to sail to possible treasure wreck sites.
Earlier, Miklos had confirmed that the Pinzon brothers, who had sailed with Columbus, had indeed traveled through Turks and Caicos in 1501.
Miklos also visited Eric Schmitt, an experienced treasure hunter who has recovered shipwreck coins worth millions.
Miklos needed to recruit a crew but noted that it could be dangerous: "Nobody trusts anybody in this business. There are modern day pirates.your best friend will steal from you. Gold fever sets in.
"People would do anything for this info," Miklos told the cameras about Cooper's charts.
Miklos said, "I need a crew I can trust with Gordon's secret."
Schmitt relieved Miklos' mind with his independent attitude.
Miklos liked that Schmitt was a proven discoverer and a lone wolf type and he later agreed to join the hunt.
But then, Miklos was dragged down by his dad Roger, who was once a successful treasure hunter himself.
Roger needed $222 dollars so his electricity wouldn't get shut down; his son Miklos gave him $260 and fumed afterwards that he had his own family to take care of.
"There was time my dad was on top of the worldhe had gold and jewelrythen he lost it all. I don't want to wind up like that," Miklos told the cameras.
And so he pressed on, crunching Cooper's numbers and charting where ancient Spanish ships might have sank.
In the Turks and Caicos islands, Miklos recalled Cooper was there for Mercury splash down tests in the early '60s; he vowed not to let his old pal down.
He assembled a crew of six people and sonar equipment on his ship.
"Let's do it for Gordon," Miklos said, emotional as they sailed off.
Miklos had 13 target locations, and used a magnetometer to find metal-based shipwreck material.
The first area came up empty, but at the next target, Miklos and Schmitt dived again.
Suddenly, they found something!
Schmitt started shouting, "I see it! I have located it!" as the episode ended.
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Mini golf course with nautical theme coming to Indian Land – The Herald
Posted: at 1:11 pm
The Herald | Mini golf course with nautical theme coming to Indian Land The Herald A miniature golf course with a nautical theme could open as early as June in Indian Land. High Seas Miniature Golf, at 10001 Charlotte Highway, is a pirate-themed miniature golf course. The course is in the same plaza as Southern Spirits and Phantom ... |
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Thank a Youth Worker Day: Self-renewal Important for Those Who Champion Kids, Nonprofit Founder Says – Youth Today
Posted: at 1:09 pm
Spring is the busiest time of year for Derrin Slack. In April, he managed 21 service projects.
The executive director of ProAct, an Indianapolis nonprofit, works with kids ages 10 to 18 to connect them with community projects so the youth gain skills and confidence while the community benefits from their work.
Seven years ago, when Slack was 22, he founded the organization, and hes been steadily building it since. It now employs a director of social engagement and several site leaders and interns.
Youth workers like Slack are deeply committed to a mission, but focusing strongly on the needs of others can often leave youth workers themselves unsustained.
As a youth worker, we get so caught up in other peoples problems that we forget our own [needs], he said.
Last year, however, Slack took time to attend four three-day retreats that support youth workers professional development and help them renew and recharge.
The retreats are led by The Journey, an Indiana nonprofit that supports the renewal and professionalization of youth workers, which also created Thank a Youth Worker Day in 2009. The day is celebrated internationally on May 11 this year.
Through the gatherings, Slack shared his experiences with a broad range of people in the field, including attorneys who advocate for youth.
It was time to be around like-minded individuals who understand how youth work is, he said. It was time to step back to remind myself why I do what I do.
Youth workers can sometimes feel alone, Slack said. Other people doing different work may not understand.
The biggest takeaway [from the retreats], Slack said, is that Its OK to take the time out for myself.
When Slack needs to wind down, he writes in a journal, reads for pleasure or catches up with friends.
But he said he has also changed the culture of his organization.
ProAct encourages its staff to attend conferences and to take time for self-renewal to focus on a personal goal, spend time with family or simply rest, he said.
The organization now includes a strengths-finder assessment when staff come on board and a process for certification through the Child and Youth Care Certification Institute.
ProAct engages youth in community service projects that allow them to develop skills and confidence. Kids 10 to 18 organize projects, plan events, handle logistics, meet new people and learn about neighborhoods beyond their own.
The idea for ProAct was born when Slack was a college student. Along with 19 other football players at Wabash College, he took part in a mission trip to Botswana.
It ignited a fire in me, he said.
He said he realized then that every person has something of value that can help others.
But he didnt see any organizations that were connecting disadvantaged youth to others in order to build the kids character and self-esteem through community service.
He developed ProAct as an out-of-school-time program giving youth the opportunity to build and support the community.
In ProActs after-school and Saturday programs, kids learn how to plan events, handle logistics and gather information. They learn about communities outside of their own and gain understanding of the issues in different neighborhoods.
Young people are not the recipient of community service, but creators and performers of it, according to ProAct.
They become more informed, reflective and intentional, according to the organization.
They build confidence and self-esteem, Slack said.
And the youth workers who support them should also find support through ProAct to develop professionally and personally, Slack believes.
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Life is unpredictable, and so is community – Global Sisters Report (blog)
Posted: at 1:09 pm
Notes from the Field includes reports from young people volunteering in ministries of Catholic sisters. A partnership withCatholic Volunteer Network, the project began in the summer of 2015. This is our fifth round of bloggers: Katie Delaney is a Good Shepherd Volunteer withthe Fundacin Madre Josefa (Mother Joseph Foundation)inSantiago, Chile, and Lauren Magee is a Good Shepherd Volunteerat Hands of Hope, an income-generating project that provides dignified employment for villagers living with HIV/AIDS in Nong Khai, Thailand.
______
Good Shepherd Volunteers live under the four tenets of social justice, spirituality, simplicity and community. Many aspects of the program challenge and encourage growth within the tenets, but it is the responsibility of individuals to pursue opportunities provided and reflect upon these values in their daily lives.
A variety of social justice issues are intertwined in all of our service sites. Simplicity is promoted in our modest stipend; and weekly reflections, quotes and prayers foster spiritual awareness. Traditionally, the tenet of community is defined by living alongside fellow Good Shepherd Volunteers, sharing in your experience and committing yourselves to one another.
This held true my first year with the Good Shepherd Volunteers, but since beginning my second year in Thailand, my community has been outside the norm.
I try to live without too many expectations because life is unpredictable, but I've learned that sometimes expectations are subconscious, and you don't realize you have them until they are unfulfilled.
I accepted my position atHands of Hopewith the knowledge that I would be joining a married couple, John and Susan Freund, who had been serving in Nong Khai for a year. The arrangement was for them to overlap with me and another Good Shepherd Volunteer for six months, and the two of us would complete our year as a pair.
However, we were unable to secure a fourth volunteer, and suddenly my future community in the program became uncertain. I had already met the Freunds at my first orientation, and the unique dynamics this new community would require did not intimidate me. I was confident we could thrive as a trio, and we did!
Lotte says farewell to the Garden Community and receives a gift from a special patient. (Lauren Magee)
But as I looked ahead to their departure, I felt insecure. Since I moved to Thailand in August, I only knew how to live there with them by my side.
I was open to the idea of continuing alone, but eight months seemed extensive. As my conversations with staff continued, fate intervened and brought a Danish volunteer named Lotte into consideration. She had a job commitment starting in the spring, so her time at the care center was limited to three months. Her background in nursing was an asset, and her presence undoubtedly helped ease the transition of John and Susan's departure. She arrived Feb. 1, only a day after John and Susan left.
A week has passed since Lotte left the community. I have never lived alone and, as a womanobsessed with intentional communities, I never planned to. Community has given me confidence and understanding in who I am in relation to others. But now is the time to learn who I am with just myself.
When the opportunity arose, I couldn't seem to turn down the challenge. I have just finished my first week alone, and I'm not naive enough to think these next five months will be as smooth, but I'm hopeful.
I'm sure I'll miss many things: speaking English at home, sharing the responsibilities of cooking and cleaning, gathering every night around the dinner table, sharing with a fellow volunteer the struggle of understanding Thai cultural norms, and simply learning about someone else's day and sharing my own. I continuously miss John, Susan and Lotte, not only because of what they did, but because of who they are.
But sometimes we need deficits to open ourselves up for growth.
A traditional offering at a Buddhist temple in Vientiane, Laos. Many bring food or flowers to the spirits at the temple in return for their blessing. (Lauren Magee)
The truth is, it's impossible for me to truly be alone. I live among a large group of patients, families and staff who are always caring for me. They've witnessed countless volunteers adjust to different living situations, but it makes them uneasy to think I won't have a partner with a similar cultural background to confide in as I finish my service here.
I understand that culture has a huge influence on behavior and self-identity, but more and more, I find similarities between my personality and that of the patients, Hands of Hope producers and Thai staff. These similarities overshadow many of our differences.
Humor is my favorite tool in building connections, and physical comedy appears to be universal. I can laugh alongside the patients when someone goofs around during daily exercises or when someone tries a facial mask for the first time, appearing with black goo all over their face.
We can all dance together in harmony, enjoying both Thai and Western songs while combining traditional Thai hand movements with the style of American hip-hop. I exchange recipes with those who enjoy cooking and bring my food experiments over for everyone to try.
Two members of the Garden Community collect fish before the pond dries up. Lifestyles may differ, but the goals are always the same. (Lauren Magee)
The community also maintains a responsibility for the well-being of one another and a protection from hardship that can be prevented. We may not share the same religion, but we pray together every day with gratitude for the gifts we have and the health and happiness of one another.
More than anything else, there is a common thread of love wrapped around everyone who enters that is impossible to cut loose.
Additionally, I see pieces of myself in all of the patients and producers, and I see my friends and family reflected in their faces. I often compare their personalities and unique traits to others in my life, and it makes me feel closer to them, as though my loved ones are here with me. I see the same sassiness and passion for life in our teenagers as I did in the teens I worked with in New York City, and the Hands of Hope producers nurture me just as my mother would do. I see my own stubbornness and immaturity in a few of the patients, as well as my creativity and compassion for others. My own fears are reflected back at me, but my strength is, as well.
Expecting four, moving to three, starting anew as two, then living alone has been a whirlwind of transitions, but at this point in my experience, I don't need another foreigner by my side to relate to. Versions of myself and of those I hold dear surround me. I find peace in this familiarity.
[Lauren Magee is a Good Shepherd Volunteer at Hands of Hope, an income-generating project that provides dignified employment for villagers living with HIV/AIDS in Nong Khai, Thailand.]
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Space Travel Can Cut Astronauts’ Fitness Levels by 50 Percent – Space.com
Posted: at 1:08 pm
Astronauts aboard the International Space Station (such as Luca Parmitano, shown here in 2013) usually exercise about two hours per day to maintain physical health. Despite such efforts, long-duration spaceflight can cause fitness levels to drop by up to 50 percent, a recent study suggests.
Long-duration spaceflight saps astronauts' exercise capacity by 30 to 50 percent, a recent study suggests.
This big reduction likely occurs because both the heart and tiny blood vessels called capillaries fail to deliver oxygen to working muscles as effectively in microgravity as they do on Earth, researchers said.
"It is a dramatic decrease," study lead author Carl Ade, an assistant professor of exercise physiology at Kansas State University, said in a statement. [The Human Body in Space: 6 Weird Facts]
"When your cardiovascular function decreases, your aerobic exercise capacity goes down," Ade added. "You can't perform physically challenging activities anymore. While earlier studies suggest that this happens because of changes in heart function, our data suggests that there are some things happening at the level of the heart, but also at the level of the microcirculation within capillaries."
Ade and his colleagues studied the exercise performance of nine NASA astronauts who stayed aboard the International Space Station (ISS), each for roughly six-month stints. The researchers compared the spaceflyers' oxygen uptake, heart output and other measurements taken during stationary-bicycle tests both before the astronauts launched and right after they landed.
Results showed that maximum oxygen uptake, a key indicator of cardiovascular health, was 30 to 50 percent lower after the astronauts came back from the ISS than before they left.
"This decrease is related to not only health, but [also] performance," Ade said. "If we can understand why maximal oxygen uptake is going down, that allows us to come up with targeted interventions, whether that be exercise or pharmacological interventions. This important new information can help these astronauts and prevent any adverse performance changes in their job."
Such interventions could be key for crewed missions to deep-space destinations such as Mars, study team members said. After all, Red Planet pioneers may be pressed into high-exertion exercise on occasion when getting an injured or sick crewmember back to base, for example.
The team's research could also have applications here on Earth, potentially helping people with weak or failing hearts, Ade added.
The study, which was published in February in the Journal of Applied Physiology, adds to researchers' understanding that spaceflight takes a toll on the human body. Scientists and doctors already know, for example, that exposure to microgravity conditions can cause bone loss, muscle wasting and long-lasting vision problems.
Astronauts aboard the ISS engage in vigorous exercise to mitigate the first two effects, and researchers are working to better understand the vision issue so they can come up with effective interventions.
Follow Mike Wall on Twitter @michaeldwall and Google+. Follow us @Spacedotcom, Facebook or Google+. Originally published on Space.com.
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Space Travel Decreases Heart and Blood Vessel Function – R & D Magazine
Posted: at 1:08 pm
Astronauts in space might have a tougher time exercising due to decreased blood vessel function.
According to a new study conducted by researchers from Kansas State University, astronauts aboard the International Space Station (ISS) have a 30 to 50 percent exercise capacity decreases in long-duration spaceflight because the heart and small blood vessels are not as effective at transporting oxygen to the working muscle.
It is a dramatic decrease, Carl Ade, assistant professor of exercise physiology at Kansas State University, said in a statement. When your cardiovascular function decreases, your aerobic exercise capacity goes down.
You can't perform physically challenging activities anymore, he added. While earlier studies suggest that this happens because of changes in heart function, our data suggests that there are some things happening at the level of the heart but also at the level of the microcirculation within capillaries.
The new research is expected to be used to help Earth-bound clinical patients with heart failure, as well as helping to improve astronaut health and provide information for future long-duration spaceflights, according to Ade.
During the study, nine astronauts established an exercise capacity by performing a stationary bike exercise test several months before they were launched to the ISS for about six months.
The researchers measured a variety of statistics including oxygen uptake, cardiac output, hemoglobin concentration and arterial saturation to show how effectively the body transports oxygen to the muscle mitochondria. The astronauts were then asked to perform the same bike test within a few days of returning to Earth.
Astronauts aboard the ISS are tasked with a variety of physical duties including opening the capsule door to helping a fallen crew member. Other tasks include performing emergency landings on Earth or performing extravehicular activities on the surface of Mars.
According to Ade, more research is needed on the way microgravity changes the interaction between blood vessel capillaries and red blood cells.
This decrease is related to not only health but performance, Ade said. If we can understand why maximal oxygen uptake is going down, that allows us to come up with targeted interventions, whether that be exercise or pharmacological interventions.
This important new information can help these astronauts and prevent any adverse performance changes in their job, he added.
While the research benefits astronauts in preparing for long-duration trips to space, it may also shed light on the blood vessel functions in older patients or patients with heart failure.
We have seen similar situations happen with heart failure and with aging, Ade said. If we can better understand what is happening in the astronaut and how to prevent it, then we might be able to do the exact same thing in a patient who is older or who has heart failure.
The study was published in the Journal of Applied Physiology.
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Space Travel Decreases Heart and Blood Vessel Function - R & D Magazine
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Jonathan Lun wins Singularity U’s Global Impact Challenge Southern Africa – Memeburn
Posted: at 1:07 pm
By Staff Reporter on 11 May, 2017 Share
Jonathan Lun, a Wits and Stellenbosch University alum, has been named the winner of Singularity Universitys Global Impact Challenge Southern Africa 2017.
Lun, 32, was last night (10 May) given the honour at a Johannesburg pitching event hosted by Singularity University.
Im absolutely thrilled and honoured to be offered this life-changing experience. The support from friends, family and colleagues has been astounding and I hope to make them proud, he tells Memeburn.
Climate change was the central theme of this years challenge, with other entrants focussing on recycling and transport among other novel solutions. But Luns ambitious asteroid metal-fueled rocket solution was deemed the most promising by the judges.
Entrepreneurs and business people Benji Coetzee, Michael Schmid, Brett Jordaan and Spencer Horne were among the five finalists who also pitched their innovations.
When Memeburn interviewed Lun prior to the event, he called Singularity University the perfect place to share and refine this idea with like-minded people who pursue ambitious and grand efforts to build the future.
Lun will now be afforded that opportunity.
Along with earning the title of Global Impact Challenge Southern Africa 2017 winner, Lun has been awarded a complete scholarship to Singularity Universitys nine-week Global Solutions Programme (GSP), taking place in Silicon Valley.
The GSP will begin on 17 June and will run until 17 August.
Memeburn is SingularityU Cape Town and Johannesburg Chapters official media partner.
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