FCA Encourages Farm Credit System Institutions to Work With Borrowers Affected…

first_img Facebook Twitter FCA Encourages Farm Credit System Institutions to Work With Borrowers Affected by COVID-19 The Farm Credit Administration is encouraging Farm Credit System (System) institutions to work with System borrowers whose operations have been affected by COVID-19 and the measures taken to prevent its spread.The coronavirus is creating extensive disruptions to the economy and American life, and governments, businesses, and the public are taking actions to minimize and mitigate risks. We recognize the pandemic may also create significant stress for System borrowers because of disruptions to employees, markets, transportation, and other factors important to their operations.“FCA regulations and the solid financial position of System institutions give the institutions considerable flexibility to provide relief to borrowers affected by COVID-19,” says Glen R. Smith, FCA board chairman and CEO. “We encourage institutions to use this flexibility to work with borrowers to lessen any stress and financial burden related to the disease and efforts to contain it.”System institutions can help alleviate stress for borrowers affected by COVID-19 in several ways:Extending the terms of loan repaymentsRestructuring borrowers’ debt obligationsEasing some loan documentation or credit-extension terms for new loans to certain borrowersIn addition to affecting System borrowers, the virus may also create challenges for System employees and institutions. These challenges may impair the institutions’ ability to comply in a timely way with regulatory or reporting requirements. FCA may be able to grant temporary relief in some circumstances that would alleviate these challenges without weakening safety and soundness.FCA encourages any System institution that needs temporary relief from these requirements to contact David Grahn, director of the agency’s Office of Regulatory Policy, at 703-883-4145.FCA’s board policy statement PS-71, Disaster Relief Efforts by Farm Credit System Institutions, provides additional information that may help System institutions respond to the impacts of the virus on their operations.To learn more about COVID-19, please consult the website of the Centers for Disease Control and Prevention.During these challenging times, we wish the best for System staff and borrowers.Source: Farm Credit Administration press release Home Indiana Agriculture News FCA Encourages Farm Credit System Institutions to Work With Borrowers Affected by… Facebook Twitter SHARE By Hoosier Ag Today – Mar 17, 2020 SHARE Previous articleUSDA Announces Program to Provide Nearly 1M Meals to Rural Children in Response to COVID-19Next articleNew Tools for Profitability in Volatile Times Hoosier Ag Todaylast_img read more

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Neptune Energy secures NPD drilling permit for well 6406/12-G-1 H

first_img The well 6406/12-G-1 H will be drilled using the West Phoenix drilling facility. (Credit: C Morrison from Pixabay) Neptune Energy has been issued drilling permit by the Norwegian Petroleum Directorate (NPD) for the well 6406/12-G-1 H located in production licence 586 offshore North Sea.The well 6406/12-G-1 H is planned to be drilled using the West Phoenix, a semi-submersible drilling facility operated by Seadrill.The drilling facility is due to complete drilling activity at the Neptune Energy’s observation well 6406/12-H-4 also located in production licence 586.In a press statement, NPD said: “The area in this licence consists of part of block 6406. The well will be drilled about 36 kilometres southwest of the Njord field.“Production licence 586 was awarded on 4 February 2011 (APA 2010). This is the 7th exploration well to be drilled in this licence.”Neptune Energy operates production licence 586 with 30% interestNeptune Energy operated the production licence 586 with 30% stake while other licensees include Vår Energi (45%), Suncor Energy (17.5%) and DNO Norge (7.5%).The licence, however, is subject to securing all other permits and consents by the operator as required by other authorities prior to commencing drilling activity.Last month, Neptune Energy and its partners have made a commercial discovery of oil at the Dugong well in the Norwegian sector of the North Sea.As per the estimates, the Dugong well holds 40 – 120 million barrels of oil equivalent, making it the largest discovery in Norway so far this year, according to the company.The Dugong prospect comprises two reservoirs located at a depth between 3,250 – 3,500 metres.The discovery well 34/4-15 S and the down-dip sidetrack 34/4-15 A proved oil in the Viking and Brent Groups of the prospect. The well 6406/12-G-1 H, which is located in production licence 586 in the North Sea, is planned to be drilled from the West Phoenix drilling facilitylast_img read more

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MLAX : Georgetown goalie Winter produces best performance of season in win over Syracuse

first_img Facebook Twitter Google+ Matt Winter turned in his best performance of the year Saturday. From start to finish, the Georgetown goaltender was sharp in net.Winter made a slew of spectacular saves to keep the Hoyas within striking defense in the first half and added a few more in the second half to preserve a crucial victory for his team.‘He’s a young man that’s been a backup goalie for us for four years and has earned the opportunity to be the guy this year, and he’s responded big time,’ GU head coach Dave Urick said. ‘And I think this was probably one of his finest, if not his best, effort throughout the whole game.’Winter finished with 12 saves to lead the Hoyas to a 10-8 upset of the Orange in the Carrier Dome on Saturday. The senior goaltender was tested early as SU controlled possession and fired 15 shots in the first half. Winter proved up to the challenge, turning away six shots to help the Hoyas go into the break down just 3-2.Early in the first quarter, Winter made a brilliant kick save on a wide open opportunity for Henry Schoonmaker. With the game tied 1-1, Schoonmaker took a pass from SU attack Tim Desko only to see his shot attempt bounce off Winter’s leg and back onto the field.AdvertisementThis is placeholder textMidfielders Bobby Eilers and Ryan Barber fired shots right into his stick for easy saves. Syracuse head coach John Desko said he thought his players rushed a few shots, but Winter played an impressive game for the Hoyas.‘Some of it’s shot selection, but I got to give credit to him. He’s the one who stood in there and made those saves,’ Desko said. ‘Some shots when you throw at his stick, he’ll move his stick and dip and he didn’t. He made those.’Winter was tested twice in the final 30 seconds as Syracuse No. 14 (7-6, 3-2 Big East) made its final desperate attempts at a comeback. Tim Desko had a chance in close, but was turned away with 26 seconds left. Tommy Palasek’s shot with three seconds left was also blocked by the goaltender.The complete performance earned him praise from both Desko and Urick after the game.‘He played the best four quarters I think he’s played,’ Urick said. ‘He’s had great halves before, but I think this is the best complete game.’Loss creates uncertain postseason chancesWith Syracuse’s 10-8 loss to Georgetown, its postseason hopes became considerably murkier.The Orange does not have a quality win on its schedule that would likely impress the NCAA tournament selection committee. A win over Notre Dame next week would certainly improve SU’s chances of earning an at-large bid, but that is far from a guarantee.That means No. 3 seeded SU will need to, in all likelihood, win the Big East tournament to earn an automatic bid. That’s no small task, considering it would probably have to beat Villanova, which beat SU earlier this season, or take down the Irish, who are currently undefeated in conference play.‘I think we have to go out and win a game and play well so that we can get another good win and get into the Big East tournament to play a couple of games there,’ Syracuse head coach John Desko said. ‘We just have to take care of business ourselves, right now.’If Syracuse doesn’t win the conference tournament, it will have to rely on the selection committee to earn an at-large bid, and there are not too many available. Nine teams will be given bids, but four of them will likely go to teams in the Atlantic Coast Conference, which boasts some of the best programs in the country.That leaves five open spots, and SU has plenty of competition against teams with solid wins on their schedules.After his team’s loss to the Hoyas, Desko said he expects the Orange to come to practice focused and ready to work on its game plan of beating ND to wrap up its regular season. The effort and intensity of his players have never been a problem this season, he said, and both of those will need to be at a premium throughout this week.‘I think we’re going to educate them on Notre Dame, and there’s no way we can downplay the importance of it,’ Desko said. ‘… I think when you focus on the mental parts, the X’s and O’s, it helps take away the thought of the pressure and what the games mean. I think we’ll be fine with it.’[email protected]@syr.edu Published on April 21, 2012 at 12:00 pmcenter_img Commentslast_img read more

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