harvest operations corp. is a canadian oil and natural gas company based in calgary , alberta .

unlike many oil and gas trusts , which consist only of production fields , harvest had both " upstream " ( oil and gas wells ) and " downstream " ( refining and distilling ) components .

it operated as an open-ended investment trust in canada , and was one of the equities known as " canroys " – short for " canadian royalty trusts . "

in 2009 the korea national oil corporation made a buyout offer for harvest , which was accepted , with shareholder approval .

the trust was delisted from the toronto stock exchange and the new york stock exchange in december 2009 .

the former harvest energy trust 's oil fields are mainly in alberta , with two in saskatchewan ; it also has assets in northern british columbia known as the hay river field .

oil sand deposits and all natural gas properties were in alberta .

as of the end of 2007 , harvest claimed a production of 61,000 boe/d ( barrels or equivalent per day ) , and a probable lifespan of existing assets of about ten years , before depletion .

it claims a total original oil in place ( ooip ) amount of 2 billion barrels ( 320,000,000 m ³ ) , and another 1 billion barrels ( 160,000,000 m ³ ) in oil sands .

future plans include drilling approximately 1,000 new oil and gas wells on about 880,000 acres ( 3,600 km ² ) of land which has previously not been developed for oil and gas production .

harvest energy trust was formed in july , 2002 .

in 2006 it purchased the 115,000 bbl/d ( 18,300 m ³ / d ) north atlantic refinery in come by chance , newfoundland and labrador from vitol refining group , b.v. , and in so doing became the first canadian energy trust to own its own refinery .

harvest had 924 employees and a market capitalization of us$ 3.22 billion at the end of 2007 .

on 22 december 2009 , harvest closed its plan of arrangement with the korea national oil corporation , which offered c$ 10.00 per unit through its canadian subsidiary , knoc canada ltd . unitholders received cash payouts in late december , with non-canadian holders receiving payouts based on the exchange rate as of the date of closing .

the harvest energy trust paid a high dividend , for example yielding an annual rate of 16.0 % in early 2008 ; it also paid out monthly , a relative rarity for equities listed on the new york stock exchange .

its dividend payments were not taxed at the regular dividend rate , but rather at a 15 % " qualified dividends " rate ; this is an additional tax advantage in the united states , and applies to many royalty trusts .

harvest operations

harvest operations <EOT> glassdoor has 20 harvest operations corp . reviews submitted anonymously by harvest operations corp . employees . read employee reviews and ratings on glassdoor to decide if harvest operations corp . is right for you .

moody ' s confirms the ratings for harvest operations corp . ; outlook is stable

i worked at harvest operations corp . full - time ( more than 3 years )

i worked at harvest operations corp . full - time ( more than 8 years )

i worked at harvest operations corp . full - time ( less than a year )

moody ' s places the ratings for harvest operations corp . under review for possible downgrade

i have been working at harvest operations corp . full - time ( more than 5 years )

in the conventional operations , harvest employs a disciplined approach to acquiring , developing and operating large resource - in - place producing properties . harvest ' s conventional operations are located in the western canadian sedimentary basin .

wellpads at harvest operations ' blackgold oilsands project remain off line . the company took a $ 509 million loss on it in 2015 .

moody ' s assigns b3 to harvest operations corp . sr . unsecured notes ; b2 senior implied rating ; sgl - 3 liquidity rating ; stable outlook

calgary , alberta - - ( marketwired - aug . 8 , 2017 ) - harvest operations corp . ( " harvest " or the " company " ) announced its financial and operating results for the second quarter ended june 30 , 2017 .

harvest operations corp . - investor & media contact : greg foofat manager , investor relations and corporate communications toll free investor mailbox : ( 866 ) 666 - 1178 information @ urltoken www . urltoken

assessment of pre and post harvest losses of rice and red gram in karnataka .

assessment of pre and post harvest losses in tur and soyabean crops in maharashtra .

assessment of pre and post harvest losses in rice and wheat in west bengal .

( 1 ) excludes volumes from harvest ' s equity investment in the deep basin partnership .

post - harvest losses in latin america and the caribbean : challenges and opportunities for collaboration .

) . the losses were maximum during storage operations due to a lack of availability , poor structures , presence of rodents , and improper drainage .

harvest operations corp . is a wholly - owned subsidiary of korea national oil corporation ( knoc ) . harvest is a significant operator in canada ' s energy industry offering exposure to exploration , development and production of crude oil and natural gas ( upstream ) and an oil sands project under construction and development in northern alberta ( blackgold ) .

korean - owned harvest operations corp . has shuffled its executive officers , reduced its staff by a third and signalled it will cut spending and try to ease a credit crunch this year while absorbing a $ 1 . 8 - billion loss for 2015 .

moody ' s confirms harvest ' s ba2 cfr and downgrades sr . unsec ' d notes to ba2

moody ' s raises harvest ' s cfr to ba2 ; sr . unsec ' d notes to ba1

harvest intends to enhance the long - term value of harvest ' s existing western canadian assets with proven development strategies . the corporation uses infill and step - out drilling to develop the potential of its assets .

magan n . , aldred d . post - harvest control strategies : minimizing mycotoxins in the food chain .

grover d . , singh j . post - harvest losses in wheat crop in punjab : past and present .

shukla b . d . , patil r . t . post - harvest management , fight hunger with fao .

harvest corporate profile harvest is a wholly - owned , subsidiary of korea national oil corporation ( " knoc " ) . harvest is a significant operator in canada ' s energy industry offering stakeholders exposure to exploration , development and production of crude oil and natural gas ( upstream ) and an oil sands project under construction and development in northern alberta ( blackgold ) .

the terrifying harvest golems are mechanical constructs programmed to hunt down and terminate the human inhabitants of westfall . though their origin is uncertain , some believe that only the wily goblins could have created these mechanical monstrosities . others speculate that the defias brotherhood had the harvest golems built to scare off the local inhabitants of westfall so that they could run their smuggling operations with greater impunity . whatever the case may be , the harvest golems have done their jobs well - eliciting terror in anyone foolish enough to roam the fallow fields of westfall alone . [ 3 ]

harvest is a significant operator in canada ' s energy industry with two operating segments : conventional and oil sands . harvest ' s shareholder , knoc , is a leading international oil and gas exploration and production company wholly owned by the government of korea

if you are interested in joining the harvest team , please send your resume indicating the desired position to careers @ urltoken .

post harvest loss and technical efficiency of rice , wheat and maize production system : assessment and measures for strengthening food security .

pathak o . p . , gupta r . a . a study on post - harvest losses of food grains in rajasthan .

a harvest golem poses as a simple scarecrow long enough for its victims to enter partial charge range . it then charges , utilizes its backstab ability to rip the throat out of its nearest opponent . while mindless , a harvest golem possesses a degree of innate cunning a touch above that of most golems , modifying its tactics somewhat in response to its enemies’ attacks . a harvest golem never retreats .

cash contributions from harvest ' s conventional operations for the three and six months ended june 30 , 2017 was $ 16 . 6 million and $ 43 . 7 million , respectively ( 2016 : $ 15 . 4 million and $ 16 . 2 million ) . the increases in cash contribution were mainly due to lower operating expenses and general and administrative expenses .

harvesting timing and method ( mechanical vs . manual ) are two critical factors dictating the losses during the harvesting operations . a large amount of losses occurs before or during the harvesting operations , if it is not performed at adequate crop maturity and moisture content . too early harvesting of crop at high moisture content increases the drying cost , making it susceptible to mold growth , insect infestation , and resulting in a high amount of broken grains and low milling yields [

the harvest golems were named by the dwarven explorer brann bronzebeard , who was attacked by one of the constructs while traveling through westfall . [ 2 ]

] conducted a study to estimate losses in postharvest operations of wheat in the state of karnataka , india . the estimations were based on a comprehensive survey from 100 farmers , 20 wholesalers , 20 processors and 20 retailers from the major producer district of each crop in the karnataka state . the overall losses in the wheat supply chain from harvesting to retailer were estimated as 4 . 32 % . field level operations contributed 75 . 9 % among the total postharvest losses (

to access the conference call dial 1 - 866 - 223 - 7781 ( international callers ) or 1 - 416 - 340 - 2219 ( toronto local ) a few minutes prior to start and request the harvest operations conference call . the call will be available for replay by dialing 1 - 800 - 408 - 3053 and entering the passcode 2923692 . the replay will be available up to and including august 16 , 2017 .

yusuf b . l . , he y . design , development and techniques for controlling grains post - harvest losses with metal silo for small and medium scale farmers .

subsequent to june 30 , 2017 , harvest received approval for knoc ' s guarantee on refinancing to replace the 6 7 / 8 % senior note due in october 2017 .

basavaraja h . , mahajanashetti s . , udagatti n . c . economic analysis of post - harvest losses in food grains in india : a case study of karnataka .

baoua i . , amadou l . , ousmane b . , baributsa d . , murdock l . pics bags for post - harvest storage of maize grain in west africa .

harvest golems are lethal mechanical golems [ 1 ] mainly found in westfall . they resemble giant scarecrows and possess blazing orange eyes and razor - sharp metal claws . [ 2 ]

ognakossan k . e . , tounou a . k . , lamboni y . , hell k . post - harvest insect infestation in maize grain stored in woven polypropylene and in hermetic bags .

analyst paresh chari of moody’s investor’s services said harvest’s situation has not changed much from december when its debt as a standalone company was assessed at caa3 , “one notch above the lowest rating we give . ”

tapondjou l . , adler c . , bouda h . , fontem d . efficacy of powder and essential oil from chenopodium ambrosioides leaves as post - harvest grain protectants against six - stored product beetles .

harvest has two sets of u . s . denominated senior notes outstanding , one for $ 500 million that matures in 2017 and another for $ 630 million maturing in 2018 . its total debt is about $ 3 billion .

conference call harvest will hold a conference call to discuss our second quarter 2017 results on thursday , august 10 , 2017 at 9 : 00 a . m . mountain time ( 11 : 00 a . m . eastern time ) .

he pointed out that $ 1 . 3 billion of harvest’s $ 1 . 8 billion net loss was related to non - cash asset impairment charges and $ 300 million came from foreign exchange affects on u . s . dollar denominated debt .

abass a . b . , ndunguru g . , mamiro p . , alenkhe b . , mlingi n . , bekunda m . post - harvest food losses in a maize - based farming system of semi - arid savannah area of tanzania .

the central processing facility ( " cpf " ) was substantially completed in early 2015 , but completion of sanctioning and commissioning activities was subsequently postponed due to the bitumen price environment . during 2017 , harvest plans to complete sanctioning and re - commence commissioning activities .

harvest added 3 , 300 boe / d in the quarter as its share of the deep basin partnership , up from 940 boe / d a year earlier . it owns 82 per cent of the joint venture it struck in april 2014 with kerr canada co . ltd .

goblins created the first harvest golems to serve as guardians , setting the constructs to patrol the fields of westfall . the goblins’ first attempts were too effective ; the golems killed so quickly and ruthlessly that no victims remained to spread tales of the horrifying guardians . goblin tinkers thus hamstrung one of their creations just long enough for a survivor to spread the word . within weeks , the fields of westfall stood empty save for their silent , shambling caretakers . harvest golems have since spread to other territories , leaving fear and mutilated corpses in their wake .

a harvest golem seems a simple scarecrow , but a crafter must lace its innards with sachets of expensive powders and ground herbs . in addition , the caster inscribes animating runes inside the golem ' s fabric body , which requires a rare ink made of powdered arcanite . [ 5 ]

there are multiple models used for harvest golems : the most commonly used scarecrow - like one , one which lacks coverings and the hat , and a re - skin of the second version that rearranges the textures to make it seem less complete ( with a hole for a face ) .

on a conference call monday , new chief operating officer jeff tooth — he replaced john wearing in february — said harvest recently laid off 67 people in calgary and in the field , including two vice - presidents it named in a news release , controller phil reist and erik van noort of technical services .

aulakh j . , regmi a . , fulton j . r . , alexander c . estimating post - harvest food losses : developing a consistent global estimation framework ; proceedings of the agricultural & applied economics association’s 2013 aaea & caes joint annual meeting ; washington , dc , usa . 4–6 august 2013 .

harvest is interested in self - starters who are experienced and results - focused . our value - driven approach promotes accountability , provides hands - on involvement and gives people an exciting and entrepreneurial environment in which to work and grow . we reward individuals who thrive in an environment of achieving results quickly and effectively .

harvest recorded an impairment of $ 509 million in 2015 related to its 10 , 000 - barrel - per - day blackgold thermal oilsands project in northern alberta . the project , built for about $ 900 million , was ready to switch on in early 2015 with the completion of its central processing facility but activity was suspended .

harvest reported production averaged 38 , 100 barrels of oil equivalent per day in the fourth quarter , down from 42 , 500 boe / d in the same period of 2015 , thanks to assets purchases and sales and natural declines . its average realized price fell to $ 37 . 65 from $ 62 . 75 per boe .

during the crop transition from farm to consumer , it has to undergo several operations such as harvesting , threshing , cleaning , drying , storage , processing and transportation . during this movement , crop is lost due to several factors such as improper handling , inefficient processing facilities , biodegradation due to microorganisms and insects , etc . it is important to understand the supply chain and identify factors at various stages that cause food losses . the section below will discuss the various stages in grain supply chain and type of losses occurring at each stage .

“although the current economic environment poses significant challenges for all industry participants , including harvest , we believe the continued adherence to our longterm strategy will enable us to emerge from this cycle in a position of strength , ” tooth said , noting oil prices that have fallen 64 per cent and gas prices that are down 52 per cent since june 2014 .

] , the losses in the rice value chain from producer to retailer were estimated as 10 . 74 % to 11 . 71 % ( 10 . 74 % for aman , 11 . 71 % for boro , and 11 . 59 % for aus ) in bangladesh . most of the losses ( 85 . 28 % –87 . 77 % of the total ) happened in the farm level operations , with storage losses ( 33 . 92 % –40 . 99 % of farm level losses ) being the main contributor . alavi et al . [

tefera t . , kanampiu f . , de groote h . , hellin j . , mugo s . , kimenju s . , beyene y . , boddupalli p . m . , shiferaw b . , banziger m . the metal silo : an effective grain storage technology for reducing post - harvest insect and pathogen losses in maize while improving smallholder farmers’ food security in developing countries .

the milling or processing operations vary for different grains . in the case of rice , the purposes of milling are to remove the husk and bran layers of paddy to provide cleaned and whole white rice kernels for human consumption . the operation can be performed manually or using milling machines . traditionally , in rural areas , milling is performed manually by repeated pounding . milling yields are highly dependent on the milling method , skills of the operator , and crop conditions before the milling process . milling of paddy containing foreign materials results in a high amount of cracked and broken kernels and can also damage machines . inadequately maintained milling machines result in a high amount of broken kernels and low milling yields . alavi et al . [ 26 ] reported that milling losses are highest among the losses during postharvest operations of rice in five southeast countries : china , thailand , indonesia , the philippines , and vietnam . milling yields of rice in all these five countries were reported well below the theoretical yield of 71 % –73 % . the yields from village level small mills were as low as 57 % due to small scale , poor calibration , and lack of maintenance . high moisture and an inadequately cleaned paddy aggravate the situation and reduce yields .

harvest ' s share of deep basin partnership ( " dbp " ) volumes for the second quarter and six months ended june 30 , 2017 increased 293 boe / d and 746 boe / d , respectively , as compared to the same periods in 2016 . these increases were due to dbp ' s successful drilling program in the fourth quarter of 2016 with the addition of three new wells that began producing in the first quarter of 2017 which more than offset natural declines .

rice , wheat , and maize are major cereal grains in most of the developing countries . in countries such as bangladesh , rice accounts for more than 90 % of food produced and about 70 % of calories intake [ 32 ] . in west africa , nigeria is currently the largest producer of rice with an annual production of about 3 . 3 million tonnes [ 18 ] . in spite of the large production and huge rice imports every year , a large number of people are undernourished in nigeria . similarly , bangladesh is the fourth largest producer of rice worldwide , however , it is still food deficient and imports more than one million tons of rice every year . saving the cereal crop lost during postharvest operations can help in meeting the food demand and reduce the load on the economy . a report from the world bank , estimated 7 % –10 % of grain loss in postharvest operations at field level , and 4 % –5 % loss at the market and distribution stage in india for the year 1999 [ 25 , 33 , 34 ] . estimates also suggest that these , approximately 12 to 16 million metric tons of grains wasted each year , could meet the food demand of about one - third of india’s poor population [ 35 ] . however , despite the criticality of the issue , availability of consistent and reliable postharvest loss data is still a challenge . very few loss assessment studies have been conducted in important developing economies such as india , china , and brazil . after the fao report in 2010 , various institutes are making efforts to conduct comprehensive household surveys , interviews , and field measurements to determine the actual status of losses along food supply chains in various countries . this section discusses the status of losses in major staple crops based on the available literature data .

while fulfilling the food demand of an increasing population remains a major global concern , more than one - third of food is lost or wasted in postharvest operations . reducing the postharvest losses , especially in developing countries , could be a sustainable solution to increase food availability , reduce pressure on natural resources , eliminate hunger and improve farmers’ livelihoods . cereal grains are the basis of staple food in most of the developing nations , and account for the maximum postharvest losses on a calorific basis among all agricultural commodities . as much as 50 % –60 % cereal grains can be lost during the storage stage due only to the lack of technical inefficiency . use of scientific storage methods can reduce these losses to as low as 1 % –2 % . this paper provides a comprehensive literature review of the grain postharvest losses in developing countries , the status and causes of storage losses and discusses the technological interventions to reduce these losses . the basics of hermetic storage , various technology options , and their effectiveness on several crops in different localities are discussed in detail .

the net change to the credit facility during the three and six months ended june 30 , 2017 was $ 16 . 2 million net borrowings and $ 465 . 8 million net repayment , respectively ( 2016 : $ 5 . 9 million and $ 38 . 9 million net borrowings ) . the net repayment on the credit facility for the six months ended june 30 , 2017 was made with $ 500 million in funds drawn from the term facility in the first quarter of 2017 . as at june 30 , 2017 , the term facility had an outstanding balance of $ 500 million ( december 31 , 2016 : $ nil ) . at june 30 , 2017 , harvest had $ 415 . 7 million drawn under the credit facility ( december 31 , 2016 - $ 893 . 5 million ) excluding letters of credit of $ 10 . 9 million ( december 31 , 2016 : $ 9 . 9 million ) .

readers are cautioned that the forward - looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated . although management believes that the forward - looking information is reasonable based on information available on the date such forward - looking statements were made , no assurances can be given as to future results , levels of activity and achievements . therefore , readers are cautioned not to place undue reliance on forward - looking statements as there can be no assurance that the plans , intentions or expectations upon which they are based will occur . although we consider such information reasonable at the time of preparation , it may prove to be incorrect and actual results may differ materially from those anticipated . harvest assumes no obligation to update forward - looking statements should circumstances , estimates or opinions change , except as required by law . forward - looking statements contained in this press release are expressly qualified by this cautionary statement .

meeting the food demand of a rapidly increasing global population is emerging as a big challenge to mankind . the population is expected to grow to 9 . 1 billion people by the year 2050 , and about 70 % extra food production will be required to feed them [ 1 , 2 , 3 ] . most of this population rise is expected to be attributed to developing countries , several of which are already facing issues of hunger and food insecurity . increasing urbanization , climate change and land use for non - food crop production , intensify these concerns of increasing food demands . in the last few decades , most of the countries have focused on improving their agricultural production , land use , and population control as their policies to cope with this increasing food demand . however , postharvest loss ( phl ) , a critical issue , does not receive the required attention and less than 5 % research funding has been allocated for this issue in previous years [ 4 , 5 , 6 , 7 ] . approximately one - third of the food produced ( about 1 . 3 billion ton ) , worth about us $ 1 trillion , is lost globally during postharvest operations every year [ 8 ] . “food loss” is defined as food that is available for human consumption but goes unconsumed [ 9 , 10 ] . the solutions to reduce postharvest losses require relatively modest investment and can result in high returns compared to increasing the crop production to meet the food demand .

postharvest loss includes the food loss across the food supply chain from harvesting of crop until its consumption [ 9 ] . the losses can broadly be categorized as weight loss due to spoilage , quality loss , nutritional loss , seed viability loss , and commercial loss [ 11 ] . magnitude of postharvest losses in the food supply chain vary greatly among different crops , areas , and economies . in developing countries , people try to make the best use of the food produced , however , a significant amount of produce is lost in postharvest operations due to a lack of knowledge , inadequate technology and / or poor storage infrastructure . on the contrary , in developed countries , food loss in the middle stages of the supply chain is relatively low due to availability of advanced technologies and efficient crop handling and storage systems . however , a large portion of food is lost at the end of the supply chain , known as food waste . “food waste” can be defined as food discarded or alternatively the intentional non - food use of the food or due to spoilage / expiration of food [ 12 ] . in 2010 , estimates suggested that about 133 billion pounds of food ( 31 % of the total available food ) was wasted at retail and consumer level in the united states . among different agricultural commodities , the studies estimated that on a weight basis , cereal crops , roots crops , and fruit and vegetables account for about 19 % , 20 % , and 44 % losses respectively [ 8 , 13 ] . on a calorific content basis , losses in cereal crops hold the largest share ( 53 % ) . cereal grains , such as wheat , rice , and maize are the most popular food crops in the world , and are the basis of staple food in most of the developing countries . minimizing cereal losses in the supply chain could be one resource - efficient way that can help in strengthening food security , sustainably combating hunger , reducing the agricultural land needed for production , rural development , and improving farmers’ livelihoods .

these companies , originally structured as canadian royalty trusts ( canroys ) , are oil and natural gas producers . as trusts , they didn ' t pay federal income taxes if they distributed their income to shareholders . the resulting double - digit dividend yields grabbed dividend investors’ attention

in the mid - 2000s . eventually the government cracked down and starting in 2011 , trusts were required to pay the same taxes as regular corporations . consequently , all trusts converted to corporations , and many cut their dividends .

if you ' re a u . s . citizen , canadian corporations withhold 15 % of your dividends deposited in regular accounts for canadian taxes . however , that deduction does not apply to tax - sheltered accounts such as iras . for regular accounts , you can apply for to the u . s . irs for a refund ( foreign tax credit ) for at least a portion of the amount withheld .

many canadian firms provide information for income tax filing instructions for u . s . unitholders on their websites . nevertheless , u . s . investors should consult with a qualified tax advisor before investing .

most canadian energy stocks are listed only on the toronto stock exchange . however , the following are also traded on either the nyse or amex .

if you can ' t find a canadian energy stock , it may have been acquired or changed its name . here ' s a list of former trusts that have recently disappeared .

for inquiries related to this message please contact support . for sales inquiries , please visit urltoken

if you believe this to be in error , please confirm below that you are not a robot by clicking " i ' m not a robot " below .

please make sure your browser supports javascript and cookies and that you are not blocking them from loading . for more information you can review the terms of service and cookie policy .

glassdoor will not work properly unless browser cookie support is enabled . learn how to enable cookies .

your trust is our top concern , so companies can ' t alter or remove reviews .

not much to say . only the most desperate employees would apply there . they do tend to hire a lot of visible minorities and immigrants , since they will work for a lot cheaper .

very bad management , koreans no nothing about the oil and gas industry , intimidation , bullying , and micromanaging are rampant and encouraged by senior management . very poor compensation plan , way below average versus peers . a horrifying experience , absolutely the worst oil & gas company i have ever worked for .

sell the company to a canadian corporation that knows oil & gas . residual value of the company is so poor now due to past mismanagement knoc will receive basically 20 cents on the dollar for their investment .

excellent offer sheet , only to have most of it reneged on and line item ' s that offered " eligible for " taken away .

unprofessional management ( bullying / threatening ) , korean culture that demanded respect usually when undeserved , requested employees to perform unsafe tasks . they would rather you pick garbage than work on your professional background , you do more security and cleaning than turning wrenches .

i worked with great people and the salary was good . location in down town is okay except for the main floor . . very sketchy area .

terrible snr management ! managers are puppets and workers are just their cause there are very little other jobs out there .

respect people for who they are and stop bulldozing people . president needs to go , he has no people skills and are 99 % of this company ' s problem .

some good people , most becoming so frustrated that they are not producing quality work and becoming extremely apathetic . field staff are for the most part extremely high quality and knowledgeable .

company culture is a disaster . between korean handlers promoting a top down hierarchy where no one ' s opinion is valued and a corporate culture of blame shifting becoming prevalent this is not the place to maintain your sanity . most employees with a solid knowledge base and skill set are looking for a way out . layoffs , property divestitures , wage cuts , elimination of bonuses and benefits for staff to pay for the mistakes of past upper management . president is a narcissistic psychopath who thinks work / life balance is a weakness .

management is in way over their head . they don ' t know how to do business in this market .

the only pro for this company is that it is a paycheck . only apply if desperate

everything - c level management are are not only bullies , they show nothing short of disrespect for canadians . employees are no longer able to make any decisions necessary to their jobs without top level approval . nobody will sign anything , not even the co & o due to the fact if something goes wrong , they will be held personally responsible . daily the company wraps itself up in more red tape and reporting - this company will come to a grinding halt due to the management style . i have never witnessed so much finger pointing at a company - it has become a very sad and unhappy environment for anyone below co & o level , even the vp ' s .

learn the oil & gas business . your lack of knowledge when making major decisions is bringing the company to it ' s knees .

this will replace the current featured review for targeted profile . are you sure you want to replace it ?

copyright © 2008–2018 , glassdoor , inc . " glassdoor " and logo are proprietary trademarks of glassdoor , inc .

use of this site is subject to , and your continued use constitutes your express agreement to be bound by , the terms of use and privacy statement . any unauthorized use of this site is strictly prohibited .

xbrl voluntary filing program visit the csas xbrl website for information about xbrl and the voluntary program . click here for information about xbrl software and viewing xbrl financial statements .

species extinction is now happening at 1 , 000 times its normal . . .

the calgary - based intermediate oil and gas producer reported it had breached its covenant on $ 924 million in bank debt as of dec . 31 but has since negotiated a waiver from its lending syndicate . the debt is guaranteed by its parent , korean national oil corp . , and it said it is in talks with knoc regarding options in advance of the april 2017 debt maturity date .

the company said president and chief executive kyungluck sohn resigned last month and piljong sung , chief strategy officer and corporate secretary , is filling in as interim ceo .

tooth said monday it will remain stalled until oil prices and the company’s financial liquidity improve .

“we will continue to discuss with our parent , knoc , to look at options to increase our liquidity and to reduce our debt balances , ” he said .

he said the company has us $ 51 million left from a us $ 171 million one - year loan made by knoc last april . the loan’s maturity date has been extended until the end of 2017 .

“they are in a bit of a difficult situation , ” he said . “it’s a liquidity issue , they have debt maturities in 2017 . they need to get some support from knoc to help them through and where and when that support comes in , i don’t really know . ”

oilfield services group asks ottawa to fund $ 500 - million oil and gas . . .

we encourage all readers to share their views on our articles and blog posts . we are committed to maintaining a lively but civil forum for discussion , so we ask you to avoid personal attacks , and please keep your comments relevant and respectful . if you encounter a comment that is abusive , click the " x " in the upper right corner of the comment box to report spam or abuse . we are using facebook commenting .

html public " - / / w3c / / dtd xhtml 1 . 0 transitional / / en " " urltoken "

this press release is an overview of the second quarter results for 2017 and should be read with the unaudited condensed interim consolidated financial statements and management ' s discussion and analysis ( md & a ) for the second quarter ended june 30 , 2017 available on the system for electronic document analysis and retrieval ( sedar ) at urltoken .

all financial data has been prepared in accordance with international financial reporting standards as issued by the international accounting standards board except where otherwise noted . all figures reported herein are in canadian dollars unless otherwise stated .

petroleum and natural gas sales for the three months ended june 30 , 2017 decreased by $ 2 . 3 million over the same period in 2016 as a result of reduced volumes , which was partially offset by an increase in realized prices . petroleum and natural gas sales for the six months ended june 30 , 2017 increased by $ 13 . 0 million as compared to the same period in 2016 as a result of increased realized prices partially offset by decreased volumes . sales volumes for the three and six months ended june 30 , 2017 decreased by 8 , 116 boe / d and 8 , 941 boe / d , respectively , as compared to the same periods in 2016 . these decreases were primarily due to natural declines and dispositions of certain producing properties during 2016 , which were partially offset by production resulting from new wells drilled and completed over the fourth quarter of 2016 , and the first six months of 2017 .

operating loss for the three and six months ended june 30 , 2017 was $ 44 . 4 million and $ 61 . 6 million , respectively ( 2016 : $ 51 . 3 million and $ 146 . 6 million ) . the decreases in operating loss from 2016 was primarily due to lower operating expenses , general and administrative expenses , depreciation , depletion and amortization , and loss from joint ventures , which was partially offset by a reduction in gains on disposition of assets .

capital asset additions of $ 4 . 9 million and $ 24 . 5 million in the three and six months ended june 30 , 2017 , respectively , were mainly related to drilling and completion , well equipment , pipelines and facilities . one gross well ( 0 . 6 net ) and five gross wells ( 2 . 7 net ) , respectively , were rig - released for the three and six months ended june 30 , 2017 .

operating netback per boe prior to hedging for the three and six months ended june 30 , 2017 was $ 13 . 04 and $ 13 . 81 , respectively , increases of $ 4 . 19 and $ 7 . 03 from the same periods in 2016 . the increases from 2016 were mainly due to higher realized prices per boe as a result of commodity benchmark price increases , partially offset by higher royalties , operating expenses , and transportation and marketing expenses per boe .

pre - operating losses for the three and six months ended june 30 , 2017 were $ 3 . 5 million and $ 6 . 9 million , respectively ( 2016 : $ 2 . 7 million and $ 7 . 2 million , respectively ) . the pre - operating losses were mainly due to pre - operating and general and administrative expenses .

the strengthening of the canadian dollar against the u . s . dollar for the three and six months ended june 30 , 2017 resulted in net unrealized foreign exchange gains of $ 48 . 8 million and $ 62 . 5 million , respectively ( 2016 : $ 13 . 0 million loss and $ 105 . 4 million gain , respectively ) .

( 3 ) this is a non - gaap measure ; please refer to " non - gaap measures " in this md & a .

knoc is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources . knoc will fully establish itself as a global government - run petroleum company by applying ethical , sustainable and environment - friendly management and by taking corporate social responsibility seriously at all times . for more information on knoc , please visit their website at urltoken .

advisory certain information in this press release constitute " forward - looking statements " which involve known and unknown risks , uncertainties and other factor that may cause actual results to be materially different from future results , performance or achievements expressed or implied by such statements . words such as " expects " , " anticipates " , " projects " , " intends " , " plans " , " will " , " believes " , " seeks " , " estimates " , " should " , " may " , " could " , and variations of such words and similar expressions are intended to identify such forward - looking statements .

for a better experience using this site , please upgrade to a modern web browser .

please log in for full access to your permissions . password is case sensitive .

we brought you to this page based on your search query . if this isn ' t what you are looking for , you can continue to search results for " "

the maximum number of items you can export is 3 , 000 . please reduce your list by using the filtering tool to the left .

the rating history for this credit rating accurately reflects the current status of the ( sf ) indicator but , due to technical limitations , does not accurately reflect the ( sf ) indicator history . please visit the research tab to view the press release ( s ) announcing when the ( sf ) indicator was added or removed .

for credit ratings that are derived exclusively from an existing credit rating of a program , series , category / class of debt , support provider or primary rated entity , or that replace a previously assigned provisional rating at the same rating level , moody’s publishes a rating announcement on that series , category / class of debt or program as a whole , on the support provider or primary rated entity , or on the provisional rating , but often does not publish a specific rating announcement on each subsequent bond or note for which the credit rating is derived from the existing credit rating . rating announcements are usually press releases classified as rating actions on www . moodys . com . please refer to the research tab on the issuer / entity page for the rating announcement .

© 2018 moody ' s investors service , inc . , moody’s analytics , inc . and / or their affiliates and licensors . all rights reserved .

this site uses cookies to improve performance . if your browser does not accept cookies , you cannot view this site .

there are many reasons why a cookie could not be set correctly . below are the most common reasons :

you have cookies disabled in your browser . you need to reset your browser to accept cookies or to ask you if you want to accept cookies .

your browser asks you whether you want to accept cookies and you declined . to accept cookies from this site , use the back button and accept the cookie .

your browser does not support cookies . try a different browser if you suspect this .

the date on your computer is in the past . if your computer ' s clock shows a date before 1 jan 1970 , the browser will automatically forget the cookie . to fix this , set the correct time and date on your computer .

you have installed an application that monitors or blocks cookies from being set . you must disable the application while logging in or check with your system administrator .

this site uses cookies to improve performance by remembering that you are logged in when you go from page to page . to provide access without cookies would require the site to create a new session for every page you visit , which slows the system down to an unacceptable level .

this site stores nothing other than an automatically generated session id in the cookie ; no other information is captured .

in general , only the information that you provide , or the choices you make while visiting a web site , can be stored in a cookie . for example , the site cannot determine your email name unless you choose to type it . allowing a website to create a cookie does not give that or any other site access to the rest of your computer , and only the site that created the cookie can read it .

warning : the ncbi web site requires javascript to function . more . . .

adm institute for the prevention of postharvest loss , university of illinois at urbana - champaign , urbana , il 61801 , usa ; ude . sionilli @ atilakp

* correspondence : ude . sionilli @ dramuk ; tel . : + 1 - 217 - 300 - 1929

this article is an open access article distributed under the terms and conditions of the creative commons attribution ( cc - by ) license ( urltoken ) .

postharvest loss accounts for direct physical losses and quality losses that reduce the economic value of crop , or may make it unsuitable for human consumption . in severe cases , these losses can be up to 80 % of the total production [ 14 ] . in african countries , these losses have been estimated to range between 20 % and 40 % , which is highly significant considering the low agricultural productivity in several regions of africa [ 15 ] . according to the world bank report , sub - saharan africa ( ssa ) alone loses food grains worth about usd 4 billion every year [ 16 ] . these losses play a critical role in influencing the life of millions of smallholder farmers by impacting the available food volumes and trade - in values of the commodities . in addition to economic and social implications , postharvest losses also impact the environment , as the land , water and energy ( agricultural inputs ) used to produce the lost food are also wasted along with the food . unutilized food also results in extra co 2 emissions , eventually affecting the environment . a report from the food and agriculture organization of the united nations ( fao ) using the life cycle perspective , estimated about 3 . 3 gtonnes of co 2 equivalent emissions due to food that was produced but not eaten , without even considering the land use change [ 17 ] . the blue water footprints ( water use during life cycle of food ) for the wasted food globally was estimated to be about 250 km 3 [ 14 , 17 ] . similarly , the land used to grow the food is another valuable resource that goes to waste due to these losses . a study conducted on rice postharvest losses in nigeria estimated that the lost paddy accounted for 19 % of the total cultivated area [ 18 ] . on the global scale , about 1 . 4 billion hectares of land was wasted by growing food that was not consumed in the year 2007 , an area larger than canada and china [ 19 ] .

considering the criticality of phl reduction in enhancing the food security , it becomes very important to know the pattern and scale of these losses across the world , especially in developing countries , and identify its causes and possible solutions . although losses occur at each stage of the supply chain from production to consumer level , storage losses are considered most critical in developing countries . this paper provides a comprehensive review and discussion on the status of storage losses of major cereal crops , major factors that lead to these losses and possible solutions . technology interventions play a critical role in addressing the issue of phl , and several efforts have been made to develop and disseminate these technologies for smallholders in developing countries . however , there is a lack of compiled evidence - based information on the effectiveness of these technologies for various crops . this paper discusses in detail the technology interventions , especially the use and effectiveness of hermetic storage in reducing storage losses particularly for smallholders in developing countries .

harvesting is considered as the first step in the grain supply chain and is a critical operation in deciding the overall crop quality . in the developing countries , crop harvesting is performed mainly manually using hand cutting tools such as sickle , knife , scythe , cutters . almost all of the crop is harvested using combine harvesters in the developed countries .

] . however , leaving the matured crop un - harvested results in high shattering losses , exposure to birds and rodents attack , and losses due to natural calamities ( rain , hailstorms etc . ) [

] . most of the harvesting is performed manually in the developing countries , which is a highly labor intensive and slow process . during peak harvesting season , even the countries such as india and bangladesh encounter labor shortages , which results in delays in the harvesting and subsequently large losses . according to a study conducted in punjab , india , due to high shattering losses , the wheat harvesting losses were found increased by about 67 % ( 2 . 5 % from 1 . 5 % ) by delay in harvesting [

] . another postharvest loss study in india estimated a 10 . 3 % increase ( 1 . 74 % to 1 . 92 % ) in paddy harvesting losses due to delayed harvesting because of a lack in adequate harvesting equipment [

maturity moisture content of various crops ( source : de lucia and assennato [ 24 ] ) .

the purpose of the threshing process is to detach the grain from the panicles . the process is achieved through rubbing , stripping , or impact action , or using a combination of these actions . the operation can be performed manually ( trampling , beating ) , using animal power , or mechanical threshers . manual threshing is the most common practice in the developing countries . grain spillage , incomplete separation of the grain from chaff , grain breakage due of excessive striking , are some of the major reasons for losses during the threshing process [ 20 , 25 ] . delay in threshing after harvesting of crop results in significant quantity and quality loss , as the crop is exposed to atmosphere , and is susceptible to rodents , birds , and insect attack [ 26 ] . as in the case of harvesting , lack of mechanization is the major reason for this delay that causes significant losses . high moisture accumulations in the crop lying in the field may even lead to start mold growth in the field .

the cleaning process is performed after the threshing to separate whole grains from broken grains and other foreign materials , such as straw , stones , sand , chaff , and weed seed . winnowing is the most common method used for cleaning in the developing countries . screening / sifting is another common method of cleaning , which can be performed either manually or mechanically . inadequate cleaned grains can increase the insect infestation and mold growth during storage , add unwanted taste and color , and can damage the processing equipment . a large amount of grains are lost as spillage during this operation , and grain losses during winnowing can be as high as 4 % of the total production [ 27 ] .

, the grains are usually harvested at high moisture content to minimize the shattering losses in the field . however , the safe moisture content for long - term storage of most of the crops is considered below 13 % [

] . even for the short - term storage ( less than 6 months ) , the moisture should be less than 15 % for most of the crops . inadequate drying can result in mold growth and significantly high losses during storage and milling . therefore , drying is a critical step after harvesting to maintain the crop quality , minimize storage losses and reduce transportation cost .

drying can be performed naturally ( sun or shade drying ) or using mechanical dryers . natural drying or sun drying is the traditional and economical practice for drying the harvested crop , and is the most popular method in developing countries . sometimes , whole crop without threshing is left in the field only for drying . for example , after wheat harvesting , stacks are made of 10–15 bundles of tied crop , and left in the field for drying . sun drying is weather dependent , requires high labor , is slow , and causes large losses . grains lying in the open for sun drying are eaten by birds and insects , and also get contaminated due to mixing of stones , dust , and other foreign materials . unseasonal rains or cloudier weather may restrict the proper drying , and the crop is stored at high moisture , which leads to high losses due to mold growth . about 3 . 5 % and 4 . 5 % losses were reported during maize drying on raised platforms in zambia and zimbabwe respectively [ 15 , 28 ] . some farmers use mats or plastic sheets for spreading the grains , which reduces the contamination with dust and makes the collection of grains easy . mechanical drying addresses some of the limitations of natural drying , and offers advantages , such as reduction in handling losses , better control over the hot air temperature , and space utilization . however , they suffer with the limitations of high initial and maintenance cost , adequate size availability , and lack of knowledge to operate these dryers , especially with smallholders . due to these limitations , these dryers are rarely used by smallholders in the developing countries [ 26 ] .


fintage house is an independent company that deals with film , tv and up until the end of 2016 , music rights .

it was established in 1986 and is co-chaired by robbert aarts and niels teves .

fintage is based in leiden , the netherlands and provides its services through an affiliated office in budapest , hungary as well as representatives in the united states , canada , australia , japan , italy and spain .

in 2008 the company had approximately 70 employees worldwide with 50 of these based in europe .

the company 's expertise lie in revenue collection and reporting for rights owners through the protection of money streams as well as actively finding new revenue streams .

fintage house were the first to account for revenue streams on a monthly basis rather than annually .

initially the company dealt primarily in film & tv but have since focused on the music business until the sale of the division to kobalt .

fintage house still operates in the film , tv realm with services such as collection account management and audiovisual producer rights .

fintage house 's music clients included britney spears , the elvis presley estate , anna netrebko , jason mraz , the black .

eyed peas and foo fighters .

fintage film & television represents production and sales companies .

in 2002 fintage house announced that maarten p melchior was to head the film and television division .

fintage serve over 1000 film and tv companies including : terminator 3 , crash , the hurt locker , district 9 , paranormal activity , terminator salvation , single man , broken embraces , precious , the messenger , nine , an education , young victoria , food , inc. , the last station .

the company linked with mediapeers in 2010 , offering an online platform for sellers and buyers of content e.g. films & tv series .

fintage house made an investment in uk-based rights agency limited in june 2012 .

cashét card llc was launched in july 2012 with the backing of fintage house and film finances , inc . the card is designed for film and tv productions to provide companies with cash back when used .

the card was first used in the film better living through chemistry .

every year to coincide with the world famous cannes film festival , fintage house and akin gump organise the jorge gallegos memorial trophy , annual boules tournament .

this prestigious event combines the sport of pétanque with a relaxed and informal cocktail party and is attended by the who ’s who of the film and television world .

this year ’s tournament took place on 20 may on the promenade de la croisette , cannes , france .

all proceeds from the boules event directly benefit humanitarian organisation , filmaid international .

in 2013 fintage house signed a deal with iip , the creators of fuga , to create a new online platform for rights-holders .

together fintage and iip plan to create a fully automated service for rights holders including : global distribution of master recordings , promotion and revenue collection .

in a traditionally slow and convoluted part of the business , this new platform will put the information at the client ’s fingertips .

on september 27 , 2016 , fintage agreed to sell its music publishing and neighboring rights divisions to kobalt music group .

fintage house

fintage house <EOT> film finances and fintage house , the companies behind cashét , are big in the entertainment financial industry .

in 2012 , fintage brought in one - time rights agency ltd into its family , adding clients such as phil collins and mumford and sons to the fintage house roster .

robbert aarts , co - ceo fintage house added : “we began our rights journey in the film and tv business three decades ago .

in this clip from urltoken - robert aarts is co - ceo of fintage house , an entertainment - asset management firm based in the netherlands .

niels teves , co - ceo for fintage house said , “for 30 years we have been creating leading services engineered by experience and as such provided a platform where transparency can thrive .

financial services and royalties collection outfit fintage house has completed a management buyout as well as appointing entertainment lawyer maarten p melchior to head the company ' s film and television collection account management division .

kobalt music group has fully acquired the music publishing and neighbouring rights businesses of fintage house – one of the biggest players , and kobalt’s toughest rivals , in the multi - billion dollar nr space .

andrew gummer , president of the music division at fintage house , added : ‘in my view the music industry still has a long way to go to best serve the interests of recording artists and composers .

ral has entered into a strategic business investment agreement with fintage house - a tv / film and music rights collection business and publisher , whose clients include the elvis presley estate , britney spears and jason mraz and which recently picked . . .

a new credit card , cashét card llc , has been launched jointly by film finances , inc and fintage house . the basic idea is that the companies will give one percent cash back to film and tv productions every time the card is used .

2 . out of the residual reserve we then pay the payroll house the total amount invoiced and in turn the payroll house pays the guild members ( through the guilds ) along with any sums due for applicable benefit , pension , health and welfare plan . any excess in the residual reserve is liquidated per the remainder of the recoupment schedule .

“the innovative and service orientated approach adopted by fintage house combined with kobalt’s long - term commitment to transparency and empowerment has convinced us that the combined forces of the two companies will provide by far the best and most influential service available in the neighbouring rights and music publishing sectors . ”

teves was joined in this disbelief by his fintage co - founder , robbert aarts ( pictured , right ) .

willard ahdritz , kobalt founder and ceo commented , “we’re incredibly excited to work with the roster of creators that fintage represents .

if fintage isn’t a name that immediately comes to mind when the subject of music biz revolution is raised , it’s probably deliberate .

unlikely as it may seem , within these very sober , very serious surroundings , fintage unleashed a quiet revolution for the music business .

“we were kind of like coutt’s bank of the netherlands , ” explains fintage co - ceo niels teves ( pictured , left ) .

having built what would become fintage within this banking environment , teves and aarts bought out the company and set up as an independent .

melchior previously worked with fintage co - chairmen robbert aarts and niels teves in the early nineties at the company ' s forerunner , meespierson communications .

fintage convinced cher’s team that there was much more money owed to her around the globe than she was previously receiving… and then proved the theory .

another key ambition of fintage is to continue to build its publishing division – its first entry point into the music business all that time ago .

1 . once every quarter , the payroll house , which is to be contracted by the producer , calculates the residuals due on the basis of amongst others the cast lists ( talent and crew ) and our statements , and provides this information by way of an invoice to both producer and ourselves .

other investments by fintage have included fuga , the digital delivery and aggregation platform that now counts ministry of sound amongst its 5 , 000 label clients .

it goes without saying that fintage’s connections to tinseltown also bring the very real possibility of its music catalogue being a go - to destination for sync .

a good example of this movie / music cross - pollination came in 2012 , when a fintage client won a publishing award for the first time in the company’s history .

filmaid’s founder caroline baron flew in from new york and will be joined by guests including richard dreyfuss , radha mitchell and lea seydoux . michelin - starred chef james atherton is cooking dinner and alison moyet will perform . already this week , 350 people showed up on monday afternoon for a boules tournament benefitting filmaid , hosted by fintage house and akin gump . the afternoon event brings out the entertainment industry’s financial bigwigs for a heated jeu - de - boule competition . among those there were banker joe woolf , endgame’s doug hansen , film finances’ kurt woolner and event host robbert aarts , fintage’s co - ceo . the boules winners were cja / vita’s chris johnson and and coutts & co . ’s neil phelps .

in addition to nr , kobalt’s acquisition brings fintage’s well - regarded music publishing operation into its ranks , with a transition of all clients set to take place in the coming months .

fintage cam has launched its new online cam live portal ! the tool , developed by using the moviechainer technology , allows fintage cam’s clients to follow and track all up - to - date revenues of their entire portfolio , as well as their collection statements , at any time and from anywhere around the world . through the use of various advanced search [ … ]

within a few years , their music rights division had expanded beyond publishing into two more blossoming areas : digital distribution and neighbouring rights – where fintage really turned the music business on its head .

fintage is part of a powerful group trying to overturn us laws which continue to block recorded music rights - holders from being paid royalties when their tracks are played on terrestrial radio and tv .

fintage catapulted to market leadership in the neighbouring rights space partly due to a strategic business investment with damian pulle’s rights agency ltd . ( ral ) in 2012 , which provided global scope and advanced infrastructure .

fintage ' s management is buying the company , which has offices spanning europe , australia , japan and the us , from the netherlands ' meespierson bank . the buyout is financed by fortis bank and equity investors .

he isn’t telling fibs about that client list : no less than 19 movies involved with fintage were nominated for oscars and golden globes this year , including brooklyn , the big short , the hateful eight and spotlight .

in fintage’s anniversary year , the company continues to grow – not least thanks to new neighbouring rights opportunities in countries such as nigeria , which has just begun pursuing the licensing of sound recording rights for commercial performance .

the hope for teves is that societies in both publishing and recorded music rights will eventually begin allowing agents like fintage and rival kobalt onto their boards – where they can begin wielding political influence on behalf of creators .

fintage house is a privately owned global film and tv rights company . we have developed unique business lines ranging from collection account management for film & tv production to digital rights management and custom - made services for the audio - visual industry . the company is involved in various aspects of financing , production and distribution of audio - visual content . cultivating innovative and successful ventures with experts in the industry to service client needs with precision is what we do best , we have been doing it for more than 30 years . we are guiding our clients through the opportunities and pitfalls of the digital age carefully and always bearing in mind our core values of great service and innovation .

( teves won’t be delighted that we’ve snuck out even this small sample of fintage’s client list . maintaining the discreet demands of his private banking days , he visibly bridles at any attempt by mbw to breach client confidentiality . )

teves and aarts are both very proud of fintage’s independent status , and the fact that – without private equity ownership breathing down their necks – their business is secure , profitable , debt - free and growing at a pace .

our collection account management ( fintage cam ) service ensures that all parties with a financial interest in a film or television production , from producer to financier to profit participant , will receive their pre - agreed share of the revenues collected .

insiders at fintage tell us that the company’s neighbouring rights operation got off the ground after it began representing cher for her global smash believe – a track actually recorded in the uk , and therefore eligible for big global performance rights revenue .

the move also meant that the talents and contact book of damian pulle – widely seen as the father of neighbouring rights in the uk , with a tough reputation for banging on the doors of unscrupulous collection societies – joined fintage’s ranks .

neighboring rights is now fintage’s biggest music division by some distance , with the company acting as a direct representative for a string of superstars – ensuring the amount of money paid back to these musicians for performance rights around the world is maximised .

if fintage did ever want to shout from the rooftops , it might like to mention that its neighbouring rights division now boasts clients including bruce springsteen , faith hill , sia and ed sheeran , amongst many other megastars we’ve been banned from mentioning .

the deal brings fintage’s nr roster of artists – including katy perry ( pictured ) , bruce springsteen and britney spears – into kobalt , which already looks after neighbouring rights for acts such as paul mccartney , sam smith , ariana grande and many more .

[ update : to be clear , kobalt has acquired fintage’s music operation , but the dutch company’s brand , plus its film / tv division – incorporating collection account management , avpr , international licensing and protocol – are not affected by the deal . ]

netherlands - born fintage recently celebrated its 30th anniversary and featured in an mbw interview to mark the occasion – in which its co - ceo robbert aarts predicted “the [ neighbouring rights ] market is going to double if not triple in terms of size as more countries open up . ”

ann tausis , md of kobalt neighbouring rights at kobalt , added , “with a combined fintage and kobalt neighbouring rights business , our clients will have access to a team of people with more experience than anyone else in the industry , together with an incredible suite of products built for them , including our newly launched neighbouring rights app .

becomes involved in a project , a collection account is opened at a bank into which the worldwide revenues of the film or tv production are to be paid . this account can be opened as soon as the title of the film is known , so that the sales agent can invoice distributors immediately . the parties involved , but in any case the producer , the sales agent and fintage

combined , their budgets are over $ 3 billion as they annually take part in over 300 new film and tv productions . film finances has bonded about 200 films a year , some being “the hunger games , ” “moonrise kingdom , ” “king’s speech , ” “the descendants , ” “black swan” and more . fintage’s films include “paranormal activity , ” “terminator : 3 , ” “crash , ” and on a whole , they were involved with movies that got 75 oscar and golden globe nominations . it’s no doubt that

neighbouring rights collections – the the money obtained after an artist or label’s recorded material is publicly performed , particularly on tv or radio – are a fast - growing sector of the global music business .

last year , nr generated $ 2 . 09bn for rights - holders , according to the ifpi – $ 200m + more than spotify paid out in the same period .

kobalt’s neighbouring rights revenues grew 127 % last year , up to $ 20 . 9m . the division generated a $ 935 , 000 profit ( not including kobalt music group - wide common costs ) .

kobalt said the buyout would “bolster [ our ] ” reach globally for clients and set a new industry standard for neighbouring rights collections and payments” .

“this deal strengthens our ability to collect more income for more creators from more places around the world . ”

“this deal strengthens our ability to collect more income for more creators from more places around the world . with a larger roster , we’re also excited to put more technology investment into neighbouring rights global collections . ”

“i really believe we can achieve more for the music industry and its clients by merging our forces and values , than we could apart . i have a lot of respect for the technological advances that kobalt has built and for the portfolio that it currently represents .

“together , this business deal will continue to help the music business grow up and service clients better’ .

“we are very keen to continue to build on what we have created in kobalt in a relatively short space of time and take this increasingly important revenue stream to new levels .

“there has never been a better time for music creators to be with kobalt , and we’re committed to continuing to raise the bar and create positive changes for them in this field . ”

“we are very proud that we were able to successfully bring our values and expertise to the music industry as well as nurturing strategic partnerships in the digital arena . we will focus even more now on our film and tv business lines alongside exploring additional avenues . ”

the best of mbw , plus the most important music biz stories on the web . delivered for free , direct to your inbox each day .

mbw will occasionally send important promotional emails that involve strategic collaborations with industry partners . we don ' t send rubbish and they help us continue to exist . tick this next box to ensure you get ' em .

the music business just got spanked by google . surely it ' s now time to speak with one voice .

in her latest film files column , sharon swart recaps the recent string of theft to hit the fest , and previews tuesday night ' s big philanthropic bashes .

torrential rain . gale - force winds . multiple thefts and muggings . are locusts next in cannes ? ( well , reportedly , one big hotel on the croisette has bedbugs . )

last week’s downpours and the $ 1 - million chopard jewelry heist were just the tip of the iceberg here in cannes . i’m hearing almost daily reports of people who have been robbed in some way over the course of the festival .

a banker was mugged late at night near the cannes train station a few days ago . and a five - bedroom villa rented by a group including cit managing director kevin khanna and silver pictures coo steve richards was emptied of its valuables yesterday evening . ( at least the burglars left everyone’s passports . )

though thefts always have been part of the reality here , this year it’s an epidemic — but not exactly incomprehensible . with the increasing amount of opulence on display during the film festival — startlets dripping in diamonds , ferraris and maseratis everywhere — it’s no wonder that cannes is a magnet for crime . especially when france’s economy is still in the toilet .

on a brighter note this week , some of that opulence will be used for good . among the big charity events happening here tonight are the heart fund’s dinner at the carlton hotel , and filmaid and naked heart foundation’s beach ball at plage royale . ( full disclosure , i am a member of filmaid’s board of directors . ) all three charities are making their cannes fest dinner debuts .

the heart fund event is co - chaired by sony pictures classics’ tom bernard . the charity fights cardiac diseases in developing countries and will be raising money to build a hospital in port - au - prince , haiti . one hundred red heart - shaped flying lanterns will be released from the carlton hotel tonight , celebrating the event and the 100th anniversary of the carlton hotel . among those expected to be in attendance are prince norodom ravichak of cambodia , actor gary dourdan and tichina rolanda arnold .

the filmaid and naked heart foundation dinner and auction is co - hosted by inside llewyn davis actor oscar isaac and model natalia vodianova , who founded the latter charity . naked heart foundation supports russian children and families raising kids with special needs . filmaid uses the power of film and media to bring life - saving information , psychological relief and hope to refugees and other communities in need .

on the radar for later this week is cannes charity behemoth amfar , which will be celebrating its 20th cinema against aids gala . hosts include sharon stone , jessica chastain , janet jackson , heidi klum , milla jovovich , carine roitfeld and harvey weinstein . duran duran and shirley bassey will be among the musical performers at the hotel du cap - based extravaganza .

this site uses cookies . by using this site you are agreeing to our privacy and cookie policy .

teves said that the new - look operation would continue to have a preferential arrangement with fortis and meespierson for all banking requirements . he added that the company would ' " continue to operate in the same manner as we have over the last fifteen years , during which time we have represented thousands of feature films . "

screen international is the essential resource for the international film industry . subscribe now for monthly editions , awards season weeklies , access to the screen international archive and supplements including stars of tomorrow and world of locations .

for inquiries related to this message please contact support . for sales inquiries , please visit urltoken

if you believe this to be in error , please confirm below that you are not a robot by clicking " i ' m not a robot " below .

please make sure your browser supports javascript and cookies and that you are not blocking them from loading . for more information you can review the terms of service and cookie policy .

filmmakers will usually do anything to cut costs . but is cashét card the panacea they’ve been looking for ? it depends . to give you a better idea of how the card works , here are five ways that cashét pitches itself toward the budgetary needs of today’s filmmakers .

card usage is said to save production companies money in the areas of travel , lodging , transportation , construction materials and equipment rental through discounts . let’s take “avatar 2” as an example ; the first film shot in places like hawaii and new zealand . if james cameron were to swipe this card , it seems he could , if we take the travel route , cut back from spending airfare to fly out cast and crew to international locales to shoot scenes . international airfare is costly for one person–add in multiple people to that and expensive equipment and this card might be saving cameron a ton of money . keeping thousands of dollars , or millions at bay then becomes a godsend for producers who don’t exceed their budgets but can now use that “extra” money to finance other areas of their projects that may be lagging .

but it begs asking the question : what about amateur filmmakers who are monetarily restricted from the beginning ? where travel is running to the nearest store , not new zealand ? the card seems to be very beneficial for producers who might overspend or just have a lot of money to work with , but it seems like film size and budget are important factors to take into consideration for the success of this card .

the card can be used at any time during the production process , allowing directors to have control over how much they spend in each department . budget is not so much an issue , either–producers could be working with $ 5 million or $ 100 million , according to cashét coo paul rogers . but it seems production companies will need to be somewhat financially stable to take advantage of this card ( sorry , amateur home movie directors ) . again , movie size seems like it might matter for filmmakers to take advantage of the card .

companies must have security and be able to pay off the card every seven days , so maxing it out isn’t really an option . meaning , the card is not going to help with monumental epic that runs over budget everytime the camera rolls . with power comes great responsibility…this card sounds very beneficial , but will producers have the time , or want to deal with a card that they have to keep track of on a weekly basis ? if they forget to pay off their costs every week , they’re suddenly being pulled into debt , not out of it .

the card has been used in eight films so far since its soft launch in may .

it was used for the first time in the indie film “better living through chemistry” with olivia wilde , michelle monaghan , sam rockwell and jane fonda . producer joe neurauter praised cashét for its easy set - up and additional financial oversight , especially in regards to

using the card’s online monitoring and accounting tools . other producers noted similar reactions , happy with the wide range of production expenses they could put on the card as well as the cash back they would receive . but it’s worth wondering how specifically this movie and the other seven films have benefited from getting cash back and discounts on the noted areas of travel , transportation , etc .

cashét is backed by talent that knows what it’s doing . but how much money have the films that have worked with this card been able to save ? perhaps with

sign up : stay on top of the latest breaking film and tv news ! sign up for our email newsletters here .

eric kohn and anne thompson discuss their favorite films of the year so far . they also debate several new releases and share some streaming recommendations .

in an episode dedicated to the show within the show , “glow” illustrates its grand capacity for storytelling , and the very good tv podcast breaks down how .

rules weren’t meant to be broken when it comes to tv episode lengths , but these 10 examples — introduced on the very good tv podcast — are clear exceptions .

after studying under cinematographer ed lachman , shevaun mizrahi forged her own unique filmmaking path with its own set of rules .

the actress and director both love the genre , but as they told indiewire , they also knew it needed to be retrofitted to tell the true story of catherine weldon and sitting bull .

lane and schoenbrun discuss how her interest in morgellons disease patients ( “the pain of others” ) and his exploration of the slenderman myth ( “a self - induced hallucination” ) led them to make archival films from youtubes .

rights agency limited ( ral ) was widely acknowledged as the uk ' s first ever neighbouring rights operation when founded by damian pulle in 1988 . the firm now counts artists as high profile as sir paul mccartney , eric clapton and phil collins amongst its clients .

to access this article you need to be a subscriber . if you are a subscriber login below .

register for a music week trial to access this article . sign up today and you will receive :

if you have previously taken a trial you will need to subscribe to access this article .

film , tv , digital & beyond . instant data access and world class service .

the annual boules tournament during the cannes film festival has become a true tradition ; it’s the place where a variety of people come together to network , make deals , catch up and meet ( potential ) clients while having the chance to throw and roll the boules in pétanque . pétanque , originally called pieds tanques , which means ‘feet anchored’ , [ … ]

we have crafted tailor - made and direct collection models for the industry , ones that our competitors are using today and we continue to pave the way in how rights collection works for the client . our business ethic is to rely on our nuts and bolts knowledge and operational excellence allowing us to produce results beyond expectation for our clients . we have a global reach with our multi - cultural staff with 18 nationalities and 16 languages based across 11 countries breaking down industry and cultural barriers .

with the market rapidly evolving into a tech driven mechanism , it must be highlighted that the essentials cannot be forgotten – the operational fundamentals and the intelligence behind the way our mechanics work . our company focus from day one was to develop pro - active and intelligent collection models for our clients that really protect their rights . we have offices in the netherlands and hungary with consultants in australia , france , germany , italy , japan , north and south america , south east asia , spain and the uk .

non music related royalties due on film or tv program broadcasts throughout europe , north america , argentina , japan and australia .

our cam service ensures that all parties with a financial interest in a film or tv production will receive their pre - agreed share of the revenues collected .

lasso is the leader in online rights management for independent film & tv , monetising 200m + views monthly .

shall receive all revenues and administrate , allocate and pay the same on behalf of the parties in accordance with the pre - agreed recoupment schedule or waterfall .

sets aside a percentage ( which percentage depends on which guilds are involved ) of all collected revenues as a residual reserve , there should always be sufficient money in the collection account to pay residuals .

if required , we can provide you with the contact details of the payroll houses that we know are acceptable to the guilds to calculate , receive and disburse the residuals due .

exclusive consultants in amongst others australia , france , japan , mexico , north america , spain and the united kingdom which minimizes time zone challenges and language barriers .

letter agreement may be beneficial . this ensures that distributors already pay into the collection account , whereby the sales agent receives its fees and expenses from the collected revenues which are normally retained in the collection account until the long form

reporting system . the purpose of this online service is to give you a convenient and immediate way of viewing your collection statements and distribution agreements online – thus keeping you informed about your entitlements and the financial position on each film or tv production . what information is available ?

files of all collection statements that have been issued for each film or tv production you have with us .

they begin in a dingy basement , or in a dingy record store – or in the dingy recesses of a party - addled mind .

eventually , such environments lead an impresario to strike on the right band , the right cultural movement , or the right crazy entrepreneurial scheme .

“eventually , that led to the chance to be involved with other entertainment rights . so we looked at the music business and thought : ‘this is crazy ! ' ”

“we were told that in music , you expected biannual accounting plus 90 days . it was ridiculous to us . ”

the duo , bamboozled by the labyrinthine nature of music publishing royalties , decided to do what they could to fix the system ; to apply the rigor of the wealth management industry to the looser fiscal elements of the music business .

“we discovered our film clients had music publishing rights but we had no real idea what that was , ” continues teves . “then we looked into it , and it was a complete mess !

“we were used to the film business , where you make money and then within five days , you’re paid .

“we were being told that , in music , we were to expect biannual accounting plus ninety days ! it was ridiculous to us . so we decided to do something about it . ”

it’s a fight teves and aarts are still undertaking – but no - one could deny they’ve made an impressive amount of progress .

“we have a discreet approach that goes back to our days in banking . it’s not very ‘music business’ , but it’s how we run things . ”

“we have a discreet approach that goes back to our days in banking , ” says robbert aarts . “it’s not very ‘music business’ but it’s how we’ve always run things .

“we attract our clients through word of mouth , rather than shouting from the rooftops . it’s a completely opposite strategy to some others in the marketplace . ”

that , however , doesn’t mean that strategic acquisitions are outside of their remit .

“the ambition now is to grow further , ” says teves . “but our main focus is definitely helping to open up new territories in neighbouring rights .

“there are so many big countries who do not pay , like argentina , where we know a lot of money is being collected , as well as indonesia and china – huge countries with huge possibilities . we want to be at the forefront of that . ”

in this regard , the us is the only major ‘first world’ nation which doesn’t fiscally reward artists with broadcast performance royalties .

“i’m very optimistic about the future of neighbouring rights – the market is going to double if not triple in terms of size as more countries open up , ” says aarts .

“we have spent a long time building relationships with the societies and the artists in this area , and we have more experience in this field than anybody else . people come to us because they know we’re the experts . ”

“we remain quite niche compared to the majors in music publishing , ” explains teves . “but with our rich client base in hollywood and elsewhere , we offer unique opportunities for songwriters to consider working on film and tv projects . ”

composer alex heffes picked up an ivor novello for best original film score for the first grader .

“i’d like to keep building the structure of the publishing company so it’s appealing to big clients , ” adds teves . “our model is no - nonsense and about creating opportunities .

“in the world of pop you need huge advantages that sometimes don’t make financial sense . that’s not a game we want to play . ”

“in the pop world of music publishing you need huge advances that sometimes don’t make financial sense – we don’t want to risk our security or compromise our ownership , so that’s not a game we want to play . ”

adds aarts : “the reason we are very confident is that we’re a debt - free company . we don’t have private equity telling us what to do , and we don’t pay stupid advances .

“we are truly in the service business – our no . 1 priority is just to serve our clients better than anyone else , and that means staying very secure . ”

in addition , it recently teamed up with one of the largest independent publishers in the world , imagem , to launch a joint neighbouring rights venture , fim .

“the system between the collecting societies is still very dysfunctional , unfortunately , ” says teves . “there is the international performer database ( ipd ) but frankly it doesn’t work like it should .

“as an artist’s neighbouring rights representative , we don’t get access to it – we want to help clean up the data but they don’t want us to . that’s very frustrating . ”

“things are better than they were , but we need societies to pay out more frequently , ” adds teves .

“the likes of ppl and soundexchange are much better now because they pay on a quarterly basis , but a lot of societies still pay on an annual basis and are three years behind .

“we cannot force collection societies to pay faster , but at least we know their deadlines for registrations , so we carefully plan the year to ensure our clients get paid as soon as possible . ”

teves admits that the disappointment in his words reflect his natural high standards – a residual effect of “the private banker left in me” .

it can surely be no bad thing for the music business to be held accountable to such demands – especially when they’re working directly for the betterment of artists and songwriters .

it pays out more than spotify and is growing fast . neighbouring rights : the music biz’s unsung hero .

music industry defeated over article 13 vote in european parliament . . . but it ' s not over yet