Operator
Good morning, and welcome to the California Resources Corporation First Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today s presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to Joanna Park. Please go ahead.
Joanna Park
Vice President of Investor Relations & Treasurer
Thank you. I m Joanna Park, Vice President of Investor Relations and Treasurer. Welcome to California Resources Corporation first quarter conference call. Participating on today s call is Mac McFarland, President and Chief Executive Officer; Francisco Leon, Executive Vice President and Chief Financial Officer; Shawn Kerns, Executive Vice President of Operations and Engineering; Mike Preston, Senior Executive Vice President, CAO and General Counsel; and Jay Bys, Chief Commercial Officer, as well as several other members of the CRC executive team.
Katherine Gentry Andrews
The Arkansas Economic Development Commission announced Thursday that it has established a new Small Business and Entrepreneurship Division and named Katherine Andrews to lead it.
Andrews, who has been a project manager with AEDC s Business Development Division since 2016, will serve as director of small business and entrepreneurship development, effective June 1.
In her new role, she ll be responsible for guiding AEDC s efforts to assist, champion and promote small businesses and entrepreneurs. The division will also work to identify and implement best practices to increase entrepreneurial activity in Arkansas. It will offer resources that are currently offered through the AEDC s existing Business Development, Science and Technology, and Minority and Women-owned Business Divisions.
Image courtesy of Pixabay
Representative image Drax Group is erecting several facilities in Arkansas that will have a combined capacity of 120,000 mt/yr of pellets.
Biomass producer and supplier Drax Group is preparing to launch a $40 million project to build three new wood pellet production plants in Arkansas, the firm announced in a recent release posted to the Arkansas Economic Development Corporation’s website.
The three “satellite” plants will have a combined capacity of about 120,000 kt/yr of wood pellets. Work on the first plant, located near a West Fraser sawmill in Leola, AR, is slated to commence this month. Drax plans to commission the new asset in October. Construction of the two other facilities will begin sometime in the next several months.
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Drax Group, a sustainable biomass production and supply company, will begin constructing the first of three new ‘satellite’ pellet plants in Arkansas, US.
The three plants are together expected to produce approximately 120 000 t of sustainable biomass pellets a year from sawmill residues, supporting the renewable energy company’s plans to increase self-supply to its power station in the UK.
Drax will begin construction of the first plant later this month near a West Fraser sawmill in Leola, Grant County, Arkansas1 – with commissioning expected in October. The company will begin construction on two more plants in other locations in the coming months. In total, Drax will invest US$40 million in the state, creating approximately 30 new direct jobs and many more indirect jobs across three Arkansas communities.