Oil prices surged about 8% on Nov. 9, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine. Brent crude settled at $42.40/bbl, up $2.95, or 7.48%, while WTI crude in the U.S. settled at $40.29/bbl, rising $3.15, or 8.48%. Oil markets also rose after Saudi Arabia suggested
Read More...Abraxas Petroleum Corp. said Nov. 9 it had regained compliance with NASDAQ after a reverse-stock split boosted the company’s share price. The NASDAQ Stock Market LLC warned Abraxas earlier this year that the company was not in compliance with its continued listing rules, which requires a minimum average closing price of $1 per share over
Read More...Genusee Inc., a startup in Flint, Mich., that recycles plastic water bottles into stylish eyeglasses, has got the kind of angel funding most startups can only fantasize about, cashing checks from investors with a geographic range from Silicon Valley to New York City, from a co-founder of Tesla to a financial adviser to Barack Obama.
Read More...Hess Corp. recently completed the multimillion-dollar sale of its interests in the Shenzi Field in the deepwater Gulf of Mexico (GoM) to BHP Group Plc. BHP, the operator of the Shenzi Field, had agreed in early October to the acquisition of Hess’ 28% working interest in the offshore oil field for $505 million. The Shenzi Field
Read More...The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions. A private seller has retained RedOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of its Haynesville
Read More...Drew Foam Cos. Inc. has a new owner after just two years under the wing of private equity firm Branford Castle Partners LP. The Monticello, Ark.-based company that specializes in quick-turnaround expanded polystyrene products announced Nov. 9 that it has been sold to another private equity firm, Wynnchurch Capital. Terms of the deal were not
Read More...Erie, Pa. — Beaumont Family of Cos. will serve as the North American technology demonstration and trial center for Roctool SA, the French maker of induction systems that can rapidly heat and cool molds. The partnership will allow customers to evaluate and learn more about Roctool’s technology, according to Beaumont Vice President Alex Beaumont. “Our
Read More...Joe Biden and Kamala Harris have been declared the victors of the election (prematurely) by the Democrat mainstream media. President Trump is rightly challenging massive voter fraud and “software glitches” in vote tabulating software used in 28 states (which you won’t read about in Democrat media). So it’s not over yet. However, let’s assume Biden/Harris
Read More...That didn’t take long. Following the Democrat media’s declaration Biden won (even though the election has not yet been certified), Biden released a new energy “transition” plan–this morning. In the plan, Biden calls for cutting natural gas usage nationwide by electrifying everything and eliminating all “non-carbon” power production. His minions are gushing about how Biden
Read More...Radical anti-fossil fuel groups have not given up hope they can somehow, at the last minute, block the $10 billion Shell ethane cracker plant (about a year from being completed) from ever starting up. Perhaps Biden’s “victory” has given them a little boost of irrational exuberance? In 2015 the Pennsylvania Dept. of Environmental Protection (DEP)
Read More...Pennsylvania Gov. Tom Wolf and his Dept. of Environmental Protection (DEP) continue to push a plan that will raise Pennsylvania residents’ electric rates by 50% or more, a carbon tax plan called the Regional Greenhouse Gas Initiative (RGGI). The DEP will conduct 10 three-hour virtual public hearings between Dec. 8 and 14. There will be
Read More...In something of a surprise for us, last week as the election returns continued to roll in and votes were counted (or miscounted, in a number of cases), President Trump demoted or fired several top agency heads. One of them was at the Federal Energy Regulatory Commission (FERC). Trump demoted FERC Chairman Neil Chatterjee and
Read More...Summit Midstream Partners, formed in 2009 and headquartered in The Woodlands, Texas, operates natural gas, crude oil, and produced water gathering (pipeline) systems in several unconventional shale plays, including the Marcellus and Utica. Last Friday Summit issued its third-quarter 2020 update. Interestingly, the gas flowing through the company’s Marcellus and Utica operations increased (a lot),
Read More...NATIONAL: Weekly natural gas prices plunge as mild temperatures sap demand; US crude producers eyeing natural gas again; Natural gas vehicles are making inroads and want Joe Biden to get aboard; Henry Hub physical gas volumes jump with LNG exports, storage flows.This post appeared first on Marcellus Drilling News.
Read More...Polypropylene prices continue their rise; Army Corps of Engineers reviewing permits at FG’s Sunshine Project; Mar-Bal expands composites compounding with an acquisition. Click here to register for a PN Live discussion about what may be coming in plastics recycling. This post appeared first on Plastics News.
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