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As Lucid II is Reinvented as a Portfolio Company of Riverstone Holdings and Goldman Sachs, the Future of Energy Growth and Investing in Delaware Remains Strong

Lucid II, which exists under the larger umbrella of Lucid Energy Group, has been around for about three years and is a large concern within the vicinity of the northern Delaware basin, as it is singularly responsible for expanding the region’s gas producing capabilities by nearly 800%. With accumulated assets, such as approximately 2000 miles of natural gas-collecting pipeline, the acquisition of Lucid II represents a strong business move for the beneficiaries of such a deal, in this case: Riverstone Holding LLC and Goldman Sachs Group Inc.

Riverstone Holdings LLC is the company led by David Leuschen and Pierre Lapeyre that oversees Riverstone Global Energy and Power Fund VI, L.P., while the merchant banking division of Goldman Sachs Group Inc. is responsible for overseeing two germane investment ventures, specifically, West Street Capital Partners VII, L.P. and Global Infrastructure Partners III, L.P. These specific energy-centric funds constitute the major beneficiaries of Lucid Energy Group’s decision, made in tandem with the company’s fiscal supporter, Encap Flatrock Midstream, to sell Lucid II, along with its far from minimal assets, for 1.6 billion.

Debt financing is to be provided for by Jeffries LLC. and the deal should be finalized in 2018. Lucid II which will operate henceforth as a portfolio company under Riverstone and Sachs, will keep its name. Lucid II management team members can expect to retain their positions.

Lucid president and CEO, Mike Latchem, remains justifiably proud of Lucid II’s accomplishments under its parent company, including the 2015 acquisition of the Agave Energy Company, a transaction in which Encap Flatrock Midstream proved to be “instrumental,” according to Latchem. Latchem is confident that the steady, yet speedy growth, already established in the region by Lucid II, under Lucid Energy Group, can be both matched and maintained by the new team of Riverstone and Sachs.

Representatives of Riverstone and Sachs are also happy to be a part of what a Riverstone Holdings representative refers to as Lucid II”s next phase of growth. Riverstone representatives believe the company brings specific and useful goodies to the table of this next phase, such as first-hand knowledge of the region, allied with longtime experience with energy-centric investing. Speakers for Sachs applaud Lucid’s strides in the Delaware region too, crediting Latchem and the Lucid II management team with developing a stellar infrastructure platform, backed by ” strong customer relations with the highest quality producers” in the region. Both companies seem certain that everything is in place for significant growth in the coming years.

 

Get to Know the UAE’s National Aerobatic Team

The Knights of the Emirates, or the Fursan Al Emarat are the National Aerobatic Team for the UAE who will participate in the Dubai Air Show this year. The show will last for five days, and the Knights will be making multiple and highly anticipated appearances. The leader of the team, Col. Nasser Al Obaidli, is proud of the reflection of his team in the highly skillful maneuvers of the UAE pilots.

Fursan Al Emarat was responsible for staging the premiers earlier in the year at the Sliac Airport for the SIAF, or Slovak International Air Festival, and at the Zhukovsky Airfield just outside of Moscow for the XIII International Aviation and Space Salon. According to Al Obaidli, the team trains twice a day, five times a week. Even for a highly experienced pilot of the UAE Air Force, it is not easy to fly with an aerobatic style.

Fursan Al Emarat was originally established in 2010, and their inaugural display was flown in November of 2011 at the Dubai International Airport. This commemorated the Dubai Air Show. In January of 2012, the Bahrain International Airshow served as their international debut, and since then they have appeared consistently at various events throughout the year. Prior to the first performance of the Fursan Al Emarat team, they took a training course for six months supervised by the Frecce Tricolori pilots in Italy. This was followed by preparing in the UAE for another six months.

The Fursan Al Emarat team consists of seven aircrafts as a representation of the UAE’s seven emirates, and the fleet totals twelve aircraft. The team flies the Aermacchi MB-339A, a light attack aircraft with robust capabilities. The name of every pilot is on the aircraft, and the pilots are kept current. The flying is dangerous, and their concentration is always critical, in addition fitness is important to the job, so pilots can mentally and physically keep their distance from any problems.

Fursan Al Emarat will be seen on the UAE’s 46th Anniversary of Independence. This represents a National Day, and is celebrated November through December 2nd. This year, the exceptional team will fly along the east coast of the UAE. The emirates will include Umm Al Quwain, Ras Al Khaimah, Sharjah, and Fujairah. The team will also fly over Abu Dhabi Corniche.

The Yacht Racing World Championships

The Rolex Maxi 72 World Championship for 2017 was claimed by Dieter Schon from Germany, and the crew of the Momo. The Momo was holding onto a 2.75-point lead on the last day, with Dario Ferrari, and the Cannonball right behind them. The Momo was declared the winner by one point, after two windward-leeward races. The Bella Mente was the defending champion, and Hap Fauth, the Vice President of the International Maxi Association won the first race of the day. The second race was claimed by George Sakellaris and the Proteus.

Sir Peter Ogden sailed in the windward-leeward with on the Vrolijk 72 Jethou, and completed a perfect score line. Thomas Bscher, the President of the International Maxi Association competed in the Wally Class, and finished in first place. Second place went to David Leuschen, and the Galateia. The victory was over Ferit Sahenk, and the Nahita for five points. As the owner of the WinWin, Kim Schindelhauer placed first in the Super Maxis, defeating Filip Balcaen, and the Baltic 112, Nilaya. Salvatore Trifiro, and the Ribelle placed second in the Super Maxi.

Sir Irvine Laidlaw, and the Highland Fling XI was the overall winner in the Maxis. Carlo Puri Negri is a multiple past winner, and claimed the honors in the Mini Maxi Racer Crusier 1 with the Farr 70 Atalanta II. The overall victory went to Roberto Lacorte, and the Vismara 62 SuperNikka. Benoît de Froidmont’s Wally followed by two points. The overall winner in the Mini Maxi Racer Cruiser 2 was Riccardo De Michele’s Vallicelli 80 H2O. This ended the tie with Giuseppe Puttini, and the Swan 65, Shirlaf that lasted for a week.

When Thomas Bscher, the President of the Yacht Rolex Cup, talked about the week, he was pleased. He proclaimed the week fabulous, the conditions good, no big waves, no swell, and strong winds. He was happy with the organizational side, and believes the officials deserve support because he wants them to return, and see the number of boats increased.

The prizes were awarded by Gian Riccardo Marini, the President of Rolex Italy, Riccardo Bonadeo, the YCCS Commodore, Princess Zahra Aga Khan, His Highness the Aga Khan, and Thomas Bscher, the IMA President. Will Apold, Sorceress’s owner was awarded the Commodore Alberini Perpetual Trophy. The top scoring members of the IMA included Riccardo De Michele, in the Mini Maxi with H20, Sir Lindsay Owen-Jones, in the Wally with Magic Carpet, Flip Balcaen, in the Super Maxi with Nilaya, and George David, in the Maxi with Rambler.

Upcoming Marathons and 10ks Taking Place in New York City

This year’s 13th annual United Arab Emirates (UAE) Healthy Kidney 10k (http://www.uaeusaunited.com/story/hk-10k/) took place on April 9, 2017 in New York City.

History
Launched in May of 2005, this event was created by the New York Road Runners and sponsored by the Embassy of the UAE in honor of Sheikh Zayed bin Sultan Al Nahyan. Sheikh Zayed was the former president of the country and in the late 1990’s was diagnosed with kidney disease. He was eventually brought to the United States for extensive testing, treatment and kidney transplant but ultimately succumbed to the disease in 2004. The proceeds of this year event will go to the National Kidney Foundation.

Location
The Healthy Kidney 10k takes place in Manhattan’s Central Park. The race course built in one large single loop that traverses the many paths and roads within the vast park. While the run is to benefit the National Kidney Foundation, the event itself has something for everyone. Great giveaways, medals for those who finish, t-shirts, raffle prizes. They even have a fast course for those runners attempting to break personal and event records.

The New York Road Runners

This event typically attracts racers from around the world in numbers that consistently touch 8,000 plus. Top-ranked professional racers, intermediate and many beginners, put foot to path on this popular course, all to benefit healthy lifestyles and also support finding cures for diseases. The New York Road Runners (NYRR) are a non-profit group who conduct many events throughout the year. NYRR gave life to this event by working with the Embassy of the United Arab Emirates and obtaining their sponsorship in building this wonderful race.

Last Year’s Race and this Year’s Outlook
2016’s Healthy Kidney 10k was notable as both winners garnered a check for $25,000, which tied for the largest prize of any 10k race in the world! Lucas Rotich took the men’s honors while Cynthia Limo took the women’s. This year’s race will offer the same first place prize but on top of this, there will be a $30,000 Zayed Bonus which comes courtesy from the Embassy of the United Arab Emirates. This bonus is offered to the first man to break the Healthy Kidney record of 27:35, set by Leonard Patrick Komon and/or the first woman to beat the record of 30:44 set by Lornah Kiplagat.

Fatima Al Ali Gets Ice Time with Washington Capitals

The Washington Capitals helped a young woman from the United Arab Emirates experience the thrill of a lifetime. Fatima Al Ali is a huge fan of the Washington Capitals hockey team. The Capitals found out, and invited Al Ali to come to America and watch the team play as a guest.

Al Ali had lunch with team executives at the UAE embassy and got a chance to meet her favorite players while enjoying her first NHL game. Al Ali even had the opportunity to practice with the team and receive her own personalized journey. CBS, CNN, and PBS attended the practice session.

The Love of the Game
Al Ali says that her love of hockey began threw watching movies such as the Mighty Ducks, Slap Shit and Miracle. Al Ali received her chance to finally play hockey by joining the Abu Dhabi Storms. With the lack of competition in the Middle East, Al Ali stayed close to the game in other ways; by coaching, officiating, and being an equipment manager. Al Ali began to watch NHL games regularly, and studied video on YouTube of NHL stars including the Capitals’ Alex Ovechkin. Al Ali was spotted by former Capitals star Peter Bondra while he was in the UAE, and he was immediately impressed. Bondra offered Al Ali the opportunity to attend a Capitals game in Washington DC.

A Dream Come True
Al Ali made the visit to Washington DC, along with her brother Mohammed. They went to a Washington Wizards basketball game before having lunch at the UAE Embassy. Al Ali had the opportunity to meet Ambassador Yousef Al Otaiba (learn more), and presented him with a signed hockey jersey on behalf of her team. Ambassador Yousef Al Otaiba talked about potentially bringing Al Ali’s team to the United States for an exhibition tour. Al Ali also practiced with a local women’s hockey team as well.

Al Ali hopes that this experience will help break barriers and inspire other hockey players from her country. Al Ali calls the experience a dream come true.

DC Embassies are in Search of Greener Pastures

The United Arab Emirates’ embassy in Washington, D.C has recently taken the plunge towards a greener tomorrow; an exhaustive process that entailed the retrofitting of the building itself, along with an overhauling of standards and practices geared towards increasing efficiency and sustainability.

Everything from energy consumption to waste management was addressed, leading to a greatly reduced carbon footprint. In celebration of this landmark achievement, the US Green Building Council has awarded the embassy with the prestigious status of Gold in its LEED (Leadership in Energy and Environmental Design) rating for Existing Buildings. Additionally, the United States’ Environmental Protection Agency has bestowed its ENERGY STAR certification in recognition of the embassy’s exemplary energy efficiency; since the retrofit, the building totes a reduction in energy consumption by a staggering 40%.

UAE Ambassador, Yousef Al Otaiba is proud to showcase the embassy’s lasting commitment to environmental sustainability.

The development of these procedures was facilitated by Abu Dhabi’s Masdar: a company invested in clean, sustainable technology and reduced carbon emissions. Masdar and the UAE’s dedication to going green not only results in a brighter future, but an increased profit margin for those who participate. The savings to be had from reduced energy usage alone are substantial, providing a much needed incentive to those companies and buildings that have yet to follow suit. Going green is its own reward, but saving money doesn’t hurt.

The UAE isn’t the only embassy looking towards a sustainable future; many other countries are also making an effort to reduce their environmental impact: The Dutch, Canadian, and Finnish Embassies among them. In January 2012, the Royal Netherlands Embassy hosted the Greening Embassies Forum—a part of Hillary Clinton’s Greening Diplomacy Initiative –at which 47 embassies pledged their efforts towards making Washington D.C a pillar of sustainability (http://nlintheusa.com/d-c-greening-embassies-forum/). The Dutch Embassy was awarded LEED Silver for its efforts, and the Finnish Embassy achieved Gold.

Through joint cooperation and education, the UAE and other embassies are aiming to make Washington D.C—and the world –more ecologically friendly.

New Development Expected For Baltimore

The Baltimore area is experiencing a successful real estate boom and is expected to increase their office space and apartments buildings by 25-36%, during the next ten years. A recent Baltimore Sun article reported the key building strategies, for One Light Street in downtown Baltimore with developer Madison Marquette. Developers are creating the atmosphere that Baltimore, is a great place to live, work, and find fantastic leisure opportunities. A proposal for development on Key Street will include a 404 ft. glass apartment and office tower. This development is expected to cater to young business professionals and established corporations. Work is expected to begin near the Key Street parking lot and Inner Harbor.

Virginia based, Metropolitan Partnership Ltd., are the contractors on the 33 story building. There will be approximately 340 apartments, 10 floors of office space, and a rooftop parking garage that will be hidden by a stone facade. There will be 646 parking spaces in the parking garage. The facade will be as tall as the Thomas Building located next door. Developers are thrilled that the development will be alongside the McDonald’s Corporation, a French Renaissance building with a restaurant on top. Metropolitan is creating tremendous office and apartment opportunities for the city of Baltimore.

The developers have issued a statement on their plans to remain in Baltimore and possibly leasing the 1 Key Street office space. They are confident that their design ideas will attract new business and savvy professionals to the downtown Baltimore area. They are striving hard to improve the financial district with efforts on nearby 10 Key Street. The historic Bank of America building on 10 Key Street is being converted into luxury apartments. Their investors are so confident with their work; they’ve backed up $28 million dollars in bonds for the parking garage. City leaders and the Downtown Initiative Partnership has backed up the developers plans to restructure downtown Baltimore.

Guests will enjoy a beautifully architecture glass building to live or work with great views of downtown and nearby historical building’s. It will be an urban design that will give you access to everything that is going on in the busy downtown Baltimore district. Enjoy a rich historical culture, with great cuisine, and live entertainment. Their development project is a number one priority for the city. Experience office space and apartments with the finest tile, stone, and decor. Metropolitan Partnership Ltd. is making downtown Baltimore the ideal place to work and live.

 

Custom Bike Frame by Ventum Designs Gifted to Ambassador Yousef Al Otaiba

The triathlon world looks for new ways to make races safer and simpler for athletes every year, and Ventum Designs recently released a special edition bike frame for the United Arab Emirates (UAE) ambassador to the United States, Yousef Al Otaiba (http://ambassadoryousefalotaiba.weebly.com/). This frame was a special edition, sporting the colors of the UAE, and Ventum Designs hopes to create a fence that brings their company together with the athletes of the UAE. This article explains how Ventum Designs has created a frame that is on the cutting edge of their industry.

#1: The Bike Frame Is Ultra-Light

The ultra-light frame is a brilliant design that offers aerodynamic qualities that are not found in other frames. The frame will glide through the air much more smoothly than other bike frames, and the frame provides more space for the wheels to move freely. The rotation of the wheels of a bike is often impeded by the frame, but the new frame by Ventum Designs allows for maximum power from the wheels.

#2: The Colorful Paint Job

Ventum Designs sent a frame to Yousef Al Otaiba that sports the colors of his nation. The athletes of the UAE could be seen on a frame like this in the future, and the frame represents the beginning of a hopeful business relationship between Ventum Designs and the UAE. There are many people who took notice of the frame, and the gift makes the new frame public in a way that a market campaign cannot.

#3: Why Do Triathletes Need Better Bike Frames?

The biking portion of a triathlon is especially grueling when someone is performing the full Ironman version of the event. The bike portion is over 100 miles long (http://www.trutrisports.com/cycling-training/), and a light bike frame makes pedaling that much simpler for every athlete. The new frame from Ventum Designs was created to help triathletes improve their times in every race, but there are many avid bikers who may prefer this design over other bikes in the industry today.

The space age design from Ventum Designs is a breakthrough in the triathlon world. Giving the frame to Yousef Al Otaiba helps show that the company and the country may come together in a harmonious relationship. The two entities will make the new frame the class of the triathlon world, and offering a gift to someone who loves bikes simply makes the gift that much more meaningful.