Three months after President Biden signed an executive order revoking construction permits for Keystone XL pipeline, more consequences of his decision are becoming clear. The revocation cheered by environmental activists removes a critical means for safely transporting the kind of Canadian crude oil that U.S. refineries on the Gulf Coast are designed to process, leaving
Read More...EQT Corp. and Chesapeake Energy Corp. are among potential buyers interested in Alta Resources, according to Bloomberg sources. The interested parties are weighing offers for Alta that could value the company at more than $3 billion. Alta is working with an advisor on a potential sale. Representatives for the parties didn’t respond to requests for
Read More...In a recent decision, the Pennsylvania Supreme Court decided the state attorney general’s office can’t invoke the state’s consumer protection law to sue Chesapeake Energy Corp. and Anadarko Petroleum Corp. on behalf of landowners who claim they didn’t get fair deals in leasing their mineral rights, according to Penn Live. The high court concluded only buyers
Read More...Chesapeake will pay a $1.9 million civil penalty to resolve a lawsuit over natural gas-related damage to streams and wetlands in five Pennsylvania counties, according to Penn Live. The proposed consent decree was filed last week in U.S. Middle District Court at the same time a suit the federal government and state brought against Chesapeake
Read More...While some opponents of responsible energy production used a recent Department of Interior forum to call for a ban on all oil and natural gas development on federal lands, or to make the Biden administration’s pause on new leasing a permanent ban, Interior Secretary Deb Haaland began the event with an important acknowledgement: “There is
Read More...Since taking office president Joe Biden and his administration have presented some challenges and created a lot of uncertainty for the oil and gas industry, according to Farm and Dairy. The first of Biden’s executive orders to impact the industry was the cancellation of the Keystone XL oil pipeline, which would have sent oil from
Read More...State and federal regulators are investigating Shell’s Falcon pipeline for reported issues with the construction of the pipeline, according to Farm and Dairy. A former Shell employee contacted the Pipeline and Hazardous Materials Safety Administration in 2019 with allegations that the pipeline may have been built with a defective corrosion coating. Although PHMSA decided through its investigation that
Read More...The Texas power grid was able to call upon a strong supply of dispatchable natural gas held in storage to boost electricity generation and home heating as an historic winter storm hit the state last month. The storm, which saw cold temperatures drop far below average, froze infrastructure, and prompted an historic spike in energy
Read More...The Dept. of the Interior will hold a virtual forum on Thursday to hear public testimony on the oil and natural gas leasing moratorium on federal lands the Biden administration implemented shortly after taking office. Oil and natural gas development on federal lands primarily takes place in the Gulf of Mexico and across the West,
Read More...Consumer Energy Alliance’s latest report has calculated a $25,600 price tag per New York City household if the city continues to follow short sighted goals of banning natural gas use in buildings. The cost to residents will be felt each winter and poses significant challenges to businesses recovering from the COVID pandemic in the short
Read More...The ‘Frack Pack’ is back with another rendition of its failed hydraulic fracturing legislative package. House Democratic Reps. Diana DeGette (Colo.), Matt Cartwright (Pa.), Yvette Clarke (N.Y.), and Jan Schakowsky (Ill.) recently re-introduced the ‘Frack Pack’, zombie pieces of legislation that have consistently failed to pass Congress regardless of which party was in control. Much
Read More...The PennEast Pipeline Co. recently announced it still anticipates putting the first phase of its natural gas pipeline in Pennsylvania in service in 2022 and completing the second phase, which stretches from Pennsylvania to New Jersey in 2024, according to Reuters. PennEast is still involved in a case before the Supreme Court with New Jersey
Read More...Automobile producers have announced North American production cuts related to the Gulf Coast winter storm of mid-February in just one of multiple impacts across different markets mostly centered around higher prices, according to a report released by Wood Mackenzie on March 19. × A month after the weather storm, house builders were seeing construction materials
Read More...Top oil exporter Saudi Arabia has cut the supply of April-loading crude to at least four north Asian buyers by up to 15%, while meeting the normal monthly requirements of Indian refiners, refinery sources told Reuters on March 12. Saudi Arabia’s reduction in supplies comes as OPEC and its allies, a group known as OPEC+,
Read More...Joe Biden’s $1.9 trillion stimulus bill has passed. The news reinforces a floor beneath oil prices, with the U.S. benchmark edging close to $65/bbl after the vote in the House of Representatives. Welcome back to Energy Source. Last year was brutal for Texas, which also just endured its worst electricity crisis in years. But the
Read More...