Yesterday ExxonMobil released the outlines of its development plan for the next five years. We previously alerted you that Exxon was looking to write down (impair) up to $30 billion of its assets, including (potentially) its assets in the Marcellus/Utica (see ExxonMobil Deciding Fate of XTO Asset Value in 4Q). Indeed it has happened, albeit
Read More...If there’s a bad cold snap in New England this winter forcing residents to use more natural gas (leaving less natgas for power plants), blackouts may occur. That’s the prediction from the North American Electric Reliability Corporation (NERC) in their just published 2020-2021 Winter Reliability Assessment (full copy below). If blackouts do occur, the residents
Read More...Diversified Gas & Oil (DGO) is a fascinating company (see our DGO stories here). DGO’s strategy is to buy wells in “the long tail.” That is, wells already drilled with production far along the decline curve, but wells that will continue to produce small amounts for years to come. In October, DGO CEO Rusty Hutson,
Read More...click for larger version FirstEnergy continues to get battered over its alleged role in a $60 million bribery scandal in Ohio. The latest blow comes from the country’s three main ratings agencies, Fitch, Moody’s and S&P, which have all downgraded FirstEnergy’s credit rating to ‘junk’ status. This post appeared first on Marcellus Drilling News.
Read More...In December 2015, evil corporate raider Carl Icahn (invests in companies so he can fire a bunch of people, boost the stock and pocket the profit) fired Cheniere Energy CEO Charif Souki (see Evil Corporate Raider Carl Icahn Claims Another CEO Scalp). Souki didn’t let it slow him down. He started a new LNG export
Read More...... … … [Editor’s Note: Boris Johnson has banned fracking and aims to force Brits into the electric vehicle they can’t afford, which means pushing them into cities.] British Prime Minister Boris Johnson banned the sale of gasoline and diesel vehicles by 2030 in order to accomplish his carbon-free mandate by 2050. A recent study,
Read More...The Trump administration is working to rollback dozens of environmental rules that could benefit the oil and gas industry, according to Oil City News. The proposed changes would weaken protections for migratory birds, expand Arctic drilling and impact future regulation of public health threats, capping four years of unprecedented environmental deregulation by President Donald Trump.
Read More...Falling crude oil prices during to the pandemic drove down virgin plastic resins prices and made recycled plastic comparatively more expensive, adding to challenges the recycling industry has long faced such as industry fragmentation and a lack of price transparency for some products. × Recycling rates across Asia, Europe and the U.S. “are still very
Read More...Jim WillisEditor & Publisher, Marcellus Drilling News (MDN) [Editor’s Note: Enbridge’s Weymouth Compressor Station has been evaluated by PHMSA and found to be safe for renewing its critical operation.] Enbridge’s Weymouth compressor station project, the final piece of the $452 million Atlantic Bridge expansion project, last week received permission from the federal Pipeline and Hazardous Materials Safety
Read More...Former Vice President Joe Biden’s victory in the race for the White House could have major implications for the climate litigation campaign as he vowed during the campaign to support these lawsuits as president and he’s already under pressure from environmental activist groups to make good on that pledge. To date, every climate lawsuit that’s
Read More...Virginia “Ginny” Kadlick, general counsel at Midland, Texas-based XRI Holdings LLC, is today’s featured Forty Under 40 honoree. Kadlick began her career as a field landman. However, after realizing her passion for the transactional side of oil and gas, she segued by going in-house at Magnum Hunter Resources Corp., initially managing all noncore divestitures and
Read More...It’s happening. No matter who sits in the Oval Office, no matter what kind of new state or federal policies emerge or what courts uphold, the great energy transition promises to be a long and contentious road. Some industry players are not sitting by gnashing their teeth as the world discusses reducing fossil fuel use.
Read More...Exxon Mobil Corp. has called off the potential multibillion-dollar sale of its oil and gas assets in Australia’s Bass Strait, the company’s local affiliate said on Nov. 28. The decision by the U.S. oil major comes just six weeks after the deadline for indicative bids for the portfolio set by adviser JPMorgan. Exxon Mobil decided
Read More...Bill desRosiersExternal Affairs Coordinator, Cabot Oil & Gas … … The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about oil demand, eminent domain, Mid-Michigan Pipeline and much more last week. The Shale Gas News has grown again to the Williamsport area
Read More...Tapstone Energy successfully bid for and absorbed Cheapeake’s Oklahoma assets during a bankruptcy auction earlier this month, according to Natural Gas Intelligence. The recent sale includes more than 700,000 net acres covering producing formations in west and northwest Oklahoma. It adds to Tapstone’s foothold in the Anadarko Basin in Oklahoma, Texas and Kansas. The recently-sold
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