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Study Shows Gilsonite Offers Superior Mastic Asphalt Performance and Economic Advantages
January 12, 2018
An independent study was recently conducted to determine how the physical and chemical properties of Gilsonite performed compared to Trinidad Lake Asphalt (TLA). The study compared a typical mastic asphalt bitumen modified with 24.4% TLA and formulations of bitumen modified with Gilsonite at significantly lower concentrations of 5% and 6%. All of the formulations used a bitumen content of 8.2% in order to yield acceptable results in workability as well as deformation resistance.
Compared to the TLA mixture, the samples modified with Gilsonite:
- Increased the softening point, which would result in a greater resistance to rutting.
- Increased viscosity and elasticity, which reduces the likelihood of roadway cracking.
- Showed lower static and dynamic indentation, indicating a greater resistance to permanent deformation.
- Demonstrated superior cold temperature performance, with both greater breaking strength and the ability to withstand colder temperatures.
- Used only one-fifth as much product, which would mean faster and simpler mixing, reduced costs of shipping and handling and greatly reduced material costs.
The findings clearly demonstrated that Gilsonite modified binders can help make stronger, longer lasting roads, and that Gilsonite should be considered an advantageous alternative to the industry’s current mastic asphalt standard. Download the full white paper here.
2017 European Asphalt Symposium hosted by American Gilsonite Company
July 24, 2017
| American Gilsonite Company recently hosted the 2017 European Asphalt Symposium in Cologne, Germany to give road paving engineers from across the continent an opportunity to learn about the latest advancements in Gilsonite® asphalt modification technology.A distinguished panel of experts presented the findings of various scientific studies demonstrating how Gilsonite® can add strength, durability and longevity to asphalt while also reducing costs. Presenters included:
Dr. Peter Sebaaly is professor of Civil Engineering and Director of the Western Regional Superpave Center and the Pavement Engineering & Science Program at the University of Nevada, Reno. Dr. Sebaaly gave a presentation on “Improving Asphalt Strength, Reducing Rutting and Cracking”. Dr. Geoff Rowe is president of Abatech, a technology company that develops software packages for pavement and materials engineering. Dr. Rowe gave the audience insights into “Increasing the PG Grade of Your Superpave Mix Design”, based on extensive laboratory analysis and real-world results. Michael Leimer is managing director for Advanced Chemical Trading, an official distributor of Gilsonite® asphalt additives for the European market. Mr. Leimer presented the findings of a research program by Asphalta, Berlin concerning the use of Gilsonite® in Mastic Asphalt. Rob Hoogland is Managing Principal of Minerals & Chemicals Assistance B.V., a Dutch company that specializes in providing raw materials used in a wide variety of applications, including road construction. Mr. Hoogland presented “Gilsonite and Rejuvenators – Solutions for Today’s Bitumen” which included findings from research conducted by Kuwait Petroleum Research & Technology. Attendees were invited to share their success stories with their colleagues. In addition to the symposium, participants were treated to a dinner cruise, where they had the chance to get acquainted and enjoy the local scenery. |
 
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Study Proves Gilsonite® is Safe and Effective in Deepwater Applications
April 21, 2017
A new study which evaluated the performance and environmental compliance for Gilsonite® uintaite in deepwater drilling operations has revealed that it is a safe and effective means of extending emulsion stability and increasing the temperature threshold in invert emulsion system formulations while fully complying with EPA standards for deepwater discharge.
Gilsonite® uintaite is known to be effective as an additive in a wide range of drilling fluid applications. It controls fluid loss and prevents lost circulation – protecting the formation from damage. Gilsonite® is used extensively in onshore and offshore shelf applications around the world. However, its use has been limited in most deepwater areas due to the industry’s widespread belief that Gilsonite® (and other asphaltic additives commonly referred to as “black powders”) are detrimental if discharged into a marine environment. The current perception is that Gilsonite® use will lead to noncompliance with the Environmental Protection Agency’s (EPA) standards.
The results of this study categorically disprove this perception. Both the efficacy of Gilsonite® uintaite and its compliance with EPA Gulf of Mexico discharge requirements were tested in accordance with American Petroleum Institute (API) recommended practices and EPA guidelines using a certified third-party lab. The findings of the study were documented in AADE technical document (AADE-NTCE-086) entitled: “Uintaite Application in Deepwater Operations”. Access the study here
Dario Montes and Ghery Sotomayor of American Gilsonite Company shared the findings of this study with their peers at the 2017 AADE Technical Conference – proving that Gilsonite® uintaite is safe and effective in deepwater operations.
American Gilsonite Company Announces Strategic Partnership with Adventus Material Strategies, LLC
March 30, 2017
American Gilsonite Company (“American Gilsonite”, or “AGC”), the world’s principal commercial miner and processor of uintaite, the unique mineral marketed under its trademark name “Gilsonite®,” today announced a strategic partnership with Adventus Material Strategies, LLC (“Adventus”). AGC and Adventus will work together to develop an effective marketing and commercialization strategy to increase asphalt sales among business and government customers.
Through the partnership, AGC aims to leverage the expertise of the Adventus leadership team to expand the company’s reach and diversify its customer base. The Adventus team will pursue sales agreements across the North American industrial asphalt sector including: roads, airport runway and FAA work, specialty coatings and specialty emulsion applications.
“We are excited about the combination of talent this partnership presents to our company, which enables us to provide a higher level of asphalt paving expertise to our clients,” said David Gallagher, president and chief executive officer for American Gilsonite Company. “The Adventus team has over 75 years of combined technical and sales experience in the asphalt industry. The company’s in-depth knowledge of the forces driving the asphalt market complement our company’s growth and expansion strategy.”
Adventus is a team of professionals with decades of experience in the commercialization of technology in the chemicals, polymers, and road infrastructure segments of the economy. The company has a positive track record in developing and launching products that have been used in asphalt modification, pavement rehabilitation and pavement maintenance.
“Adventus sees tremendous value in our partnership with American Gilsonite Company. We value the vision, integrity and professionalism of AGC’s management team,” said Brian J Majeska, principal for Adventus Material Strategies, LLC. “AGC’s investments in Gilsonite reserves, processing and technical capabilities are world class. We believe the company is positioned for excellent growth in many areas of the asphalt modification segment. Specifically, we see opportunities in more cost-effective asphalt binder formulations to meet the updated Performance Grade (PG) asphalt specifications, and to leverage AGC’s technology to improve solvent resistance in many asphalt maintenance applications.”
About American Gilsonite Company
AGC operates as an industrial minerals company and is the world’s primary miner and processor of uintaite, a variety of asphaltite, a specialty hydrocarbon which AGC markets to industrial customers under its registered trademark name “Gilsonite®”. Gilsonite® is a glossy, black, solid naturally occurring hydrocarbon similar in appearance to hard asphalt and is believed to be found in commercial quantities only in the Uinta Basin in northeastern Utah. Because of its unique chemical and physical properties, Gilsonite® has been used in more than 160 products. The Company sells its products to customers in four primary markets: (i) oil and gas, (ii) inks and paints, (iii) foundry and (iv) asphalt. AGC is headquartered in Houston, Texas.
About Adventus Material Strategies
Adventus’ team of professionals has commercialized over $100 million of new technology into the road industry. These technologies include: specialty chemicals, polymers, asphalt binders, asphalt emulsions and mixture technologies. With more than 75 years of combined leadership experience, Adventus offers customers expert guidance through the asphalt and foundry markets throughout North America.
Forward-Looking Statements
The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
Contact
Paige Donnell
Paige PR
832-566-6503
paige@paigepr.com
American Gilsonite Company Paper Selected for NTCE AADE Conference
March 10, 2017
Dario Montes and Ghery Sotomayor of American Gilsonite Company have been chosen as joint speakers at the 2017 American Association of Drilling Engineers National Technical Conference and Exhibition (AADE). The AADE is a non-profit volunteer organization dedicated to providing a forum for the dissemination and interchange of drilling practices and technology among its members and guests.
Mr. Montes and Mr. Sotomayor will be presenting the results of a study which evaluated the performance and environmental compliance for Uintaite in deepwater drilling operations. The findings of the study were documented in the AADE technical document (AADE-NTCE-086) entitled: “Uintaite Application in Deepwater Operations”.
| Event: | 2017 AADE National Technical Conference | |
| Presentation: |
Uintaite Application in Deepwater Operations | |
| Presenters: | Dario Montes and Ghery Sotomayor, American Gilsonite Company | |
| Date: | Tuesday, April 11, 11:00 AM | |
| Location: | Hilton Houston North, Room C (Drilling Fluids) 12400 Greenspoint Dr, Houston, TX 77060 |
American Gilsonite Company will also be exhibiting at the 2017 AADE National Technical Conference. Drop by booth 40 to speak to our experts and learn how Gilsonite’s unique blend of strength, flexibility, bonding and high-temperature capability increases performance in cementing and drilling fluids.
American Gilsonite Company Completes Financial Restructuring
January 4, 2017
HOUSTON, January 4, 2017 — American Gilsonite Company (“American Gilsonite”, or “AGC”), the world’s principal commercial miner and processor of uintaite, the unique mineral marketed under its trademark name “Gilsonite,” today announced that it has completed its financial restructuring and has emerged from the chapter 11 process.
David G. Gallagher, President and Chief Executive Officer, said, “We have expeditiously emerged from this financial restructuring with a significantly stronger balance sheet and a sustainable capital structure.
The ad hoc committee of second lien bondholders was supportive and helpful in navigating and successfully completing the process. Today, American Gilsonite is well positioned both financially and operationally to build and drive the business for the benefit of our customers, employees, and business partners. A just outcome for an iconic company.”
On October 24, 2016, American Gilsonite and its affiliates filed voluntary petitions for protection under chapter 11 of the U.S. Bankruptcy Code in order to implement the terms of a prepackaged plan of reorganization (the “Plan”) that had been agreed upon by its key financial stakeholders. The Plan was confirmed by the U.S. Bankruptcy Court for the District of Delaware on December 12, 2016. The Company emerged from chapter 11 on December 31, 2016.
American Gilsonite was represented by Weil, Gotshal & Manges LLP and Evercore Partners while the second lien bondholders were represented by Stroock & Stroock & Lavan LLP and Houlihan Lokey.
Forward-Looking Statements
The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
About American Gilsonite Company
AGC operates as an industrial minerals company and is the world’s primary miner and processor of uintaite, a variety of asphaltite, a specialty hydrocarbon which AGC markets to industrial customers under its registered trademark name “Gilsonite®“. Gilsonite® is a glossy, black, solid naturally occurring hydrocarbon similar in appearance to hard asphalt and is believed to be found in commercial quantities only in the Uinta Basin in northeastern Utah. Because of its unique chemical and physical properties, Gilsonite® has been used in more than 160 products. The Company sells its products to customers in four primary markets: (i) oil and gas, (ii) inks and paints, (iii) foundry and (iv) asphalt. AGC is headquartered in Houston, Texas.
Contact
Peter Hill
Kekst and Company
212-521-4800
peter.hill@kekst.com
American Gilsonite Company Reaches Agreement with Second Lien Noteholders and Equity Sponsor on Prepackaged Reorganization Plan
October 25, 2016
Normal operations expected to continue with no impact on customers, employees, or vendors
HOUSTON, TEXAS – October 24,2016 – American Gilsonite Company, Inc. (“American Gilsonite”, or “AGC”), the world’s principal commercial miner and processor of uintaite, the unique mineral marketed under its trademark name “Gilsonite,” today announced that it has reached an agreement with holders of more than 67% of its Second Lien Notes (the “Supporting Noteholders”) and its current equity sponsor on the terms of a reorganization that will eliminate substantial indebtedness, significantly reduce debt service, and provide financing to restructure its balance sheet.
“We are pleased to have reached an agreement with our key financial stakeholders that recognizes the underlying strength of our business and provides a path to restructure our debt without any impact on our customers, employees, or vendors,” said David G. Gallagher, Chief Executive Officer. “American Gilsonite has positive operating cash flow, a highly differentiated product offering, more than 100 years of mineral reserves, and a broadly diversified customer base. With the implementation of this prepackaged reorganization plan, we will significantly strengthen the company’s balance sheet and create a capital structure that is more sustainable over the long term.
“Today’s announcement is good news for our customers, employees, and business partners, as it ensures we will have adequate liquidity to continue uninterrupted operations even under these adverse energy market conditions,” Mr. Gallagher concluded.
Company Initiates Voluntary, Court-Supervised Process to Implement Prepackaged Restructuring
In order to implement the agreed upon restructuring, AGC and its subsidiaries (the “Company”) filed a Joint Prepackaged Plan of Reorganization (“Prepackaged Plan”) along with voluntary petitions for protection under chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the District of Delaware. The Company intends to use the court-supervised process to facilitate a financial restructuring designed to restore the Company to long-term financial health while continuing to operate in the normal course of business without interruption.
In accordance with the Prepackaged Plan, holders of general unsecured claims, including trade vendors, employees, and lease counterparties, will receive payment in full on account of existing obligations in the ordinary course of business. The Company’s revolving lenders will also be paid out in full.
Commitment Secured for $30 Million in New Financing from Current Noteholders
The Supporting Noteholders have agreed to provide the Company a $30 million credit facility. This proposed debtor-in-possession (“DIP”) financing will help support the Company’s reorganization plans and normal post-petition operation of its business, including timely payment of operational expenses (purchased goods and services), employee wages, benefits, and other obligations on an uninterrupted basis. The principal amounts extended to the Company under the DIP financing will convert in full to an exit facility upon the Company’s emergence from the restructuring process. The Company has also filed a number of customary first day motions with the Court to support its ongoing business operations.
The Supporting Noteholders have agreed to vote in favor of the Company’s Prepackaged Plan and exchange their loans for reorganized equity and subordinated debt. The Prepackaged Plan, which will transition ownership to the Company’s Second Lien Noteholders, is also supported by the Company’s current shareholders.
Gilsonite® is a naturally occurring hydrocarbon resin with a number of unique chemical properties and physical characteristics that improve the performance of many critical materials and applications. The strength, flexibility, extreme light weight, and environmental safety of Gilsonite® make it a superior additive for cementing and drilling fluids in the oilfield, as well as improving performance and quality in asphalt, inks, paints, stains, construction materials, and foundry castings. AGC works with its customers as a technical partner and trusted supplier to ensure superior performance in every application.
Forward-Looking Statements
The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
About American Gilsonite Company
AGC operates as an industrial minerals company and is the world’s primary miner and processor of uintaite, a variety of asphaltite, a specialty hydrocarbon which AGC markets to industrial customers under its registered trademark name “Gilsonite®”. Gilsonite® is a glossy, black, solid naturally occurring hydrocarbon similar in appearance to hard asphalt and is believed to be found in commercial quantities only in the Uinta Basin in northeastern Utah. Because of its unique chemical and physical properties, Gilsonite® has been used in more than 160 products. The Company sells its products to customers in four primary markets: (i) oil and gas, (ii) inks and paints, (iii) foundry and (iv) asphalt. AGC is headquartered in Houston, Texas.
| Contact Peter Hill Kekst and Company 212-521-4800 peter.hill@kekst.com |
Gilsonite® Improves Performance, Extends Thermal Life and Reduces Cost in Deepwater Drilling
June 24, 2016
Gilsonite® has been proven safe and effective in more than 60 years of oilfield performance. Added to drilling fluids, it increases performance and reduces cost in deepwater drilling while minimizing risk.
Gilsonite® meets all EPA requirements for Gulf of Mexico discharge
The deeper you look, the more benefits you’ll see
With natural bonding and plugging properties and a high softening point, Gilsonite® delivers multiple advantages:
- Extends thermal life 10% or more
- Prevents lost circulation
- Minimizes differential sticking
- Stabilizes shales
- Performs in oil- and water-based drilling muds
- Performs in HP/HT environments
- Reduces cost vs. polymers
- Delivers higher performance with no HSE risk
Gilsonite® reduces costs more than 80%
At a fraction of the cost of premium polymers, Gilsonite® delivers greater cost advantages at higher temperatures:
For more information, download the technical information sheet.
NEW PRODUCT LAUNCH: Gilsonite® AquaSol Performs in WBM Like Sulfonated Asphalt, at Significantly Less Cost
May 16, 2016
American Gilsonite Company is proud to announce the launch of Gilsonite® AquaSol – a cost-effective, high-performance drilling fluid additive, effective in a wide range of water-based systems for both low and high temperature wells.
Disperses quickly and easily in water-based muds
Gilsonite® AquaSol is a free-flowing powder that mixes easily through the hopper and disperses with only mild agitation. It is tolerant of contaminants and eliminates the need for additional surfactants or coupling agents.
Gilsonite® AquaSol has a wide range of performance benefits
- Mixes easily through the hopper
- Controls fluid loss and seepage
- Stabilizes shales
- Prevents lost circulation
- Strengthens the wellbore
- Minimizes differential sticking
- Maintains lubricity in tight formations
- Compatible with most water-based systems
Get the performance of sulfonated asphalt and pay 25-50% less
Gilsonite® AquaSol performs comparably to sulfonated asphalt at a much lower cost. Plus, since it requires no additional surfactants or coupling agents, it further lowers costs by allowing you to use fewer additives.
Cost per BBL
For more information, download the technical information sheet.
American Gilsonite Company Offers New G-Bond Cementing Additive for Improved Mixability at Higher Concentrations
April 12, 2016
American Gilsonite Company now offers Gilsonite® G-Bond to deliver even more performance in formulations with higher concentrations.
Mixes easily without foaming – saves time, space and money
Gilsonite® G-Bond is traditional cementing grade Gilsonite® with a surfactant coating. It is free-flowing and easily disperses in water for rapid wellsite mixing – even at high concentrations. Its unique characteristics eliminate the time and expense of adding wetting agents and defoamers, as well as the time, space and cost of using a batch mixer.
Now you can further improve the physical and chemical properties of your slurry and set cement by using higher concentrations of Gilsonite®.
- Enhance cement bonding
- Prevent sustained casing pressure
- Improve zonal isolation
- Eliminate need for blenders or batch mixers onsite
- Prevent pump cavitation
- Eliminate need for wetting and defoaming agents
Instantly enhance cement properties without changing your formulation
With its superior hydrophilic characteristics, Gilsonite® G-Bond readily mixes at concentrations approaching 30% or even 40% without requiring any additional changes to the slurry formulation. It is ultra-lightweight, highly dispersible and can be mixed on the fly without requiring any blenders or batch mixers.
For more information, download the technical information sheet.
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