Formosa Plastics Group unit FG LA LLC will continue early work on a plastics and petrochemicals complex in Louisiana, even as the U.S. Army Corps of Engineers reviews permits that had been issued for the project. Officials with FG in Welcome, La., reached an agreement Nov. 4 with environmental groups that had filed lawsuits to
Read More...Ethanol production dropped to record lows in April when stay-at-home orders were put in place and the industry is still struggling, according to Farm and Dairy. Ethanol production took a hit when people stopped driving and demand fell by half. A recent study conducted by economists from the University of Florida and Arizona State University found ethanol producers will
Read More...Cheniere Energy Inc. reported earnings on Nov. 6 that missed analysts estimates and said it expects to complete the third train at its Corpus Christi LNG export plant in Texas in first-quarter 2021. Previously, Cheniere, the biggest U.S. LNG company, said it expected to complete Corpus 3 in the first half of 2021. In what
Read More...Fresh off announcing plans to expand its medical injection molding business, Teel Plastics LLC is expanding again, this time in pipe extrusion. The Baraboo, Wis.-based company announced Nov. 5 that it is leasing a vacant 180,000-square-foot facility near its headquarters to expand pipe production. The plant is scheduled to be operational by Jan. 1, according
Read More...Last week ExxonMobil issued its third-quarter 2020 update, with some relatively big news (for us). The company announced it is currently reviewing and making a decision about whether or not to sell its North American dry gas assets–i.e. XTO Energy. If it sells XTO, it will take a huge write-down in value (assets currently on
Read More...Kimbell Royalty Partners, headquartered in Fort Worth, Texas, is a leading buyer of oil and natural gas mineral and royalty interests, owning interests in more than 96,000 wells across 28 states, including wells in the Marcellus/Utica region. Yesterday the publicly-traded company issued its third-quarter 2020 update. We discovered some information about their involvement in the
Read More...After a shareholder vote scheduled for next Thursday, Nov. 12, Montage Resources will be no more. The company is selling itself to Southwestern Energy in an all-stock deal worth $857 million (see Stop Press! Southwestern Energy Buying Montage Resources for $857M). Yesterday Montage issued what will be its very last quarterly update. What does the
Read More...The radicalized Pennsylvania Environmental Defense Foundation (PEDF) never gives up. In June 2017, the PEDF won a case at the PA Supreme Court by the skin of their teeth (see PA Supreme Court Hands Antis Partial Victory re State Land Drilling). The case dealt with the narrow issue of how PA can spend revenue raised
Read More...In June, Weatherford International, the world’s fourth-largest oilfield services (OFS) company, announced that its CEO, Mark McCollum, had suddenly “left” the company (see Weatherford CEO Out Days Before Annual Meeting – 2nd Bankruptcy?). McCollum was previously the CFO of Halliburton, lured away in June 2017 to run Weatherford (see Halliburton Hires New CFO After Old
Read More...Although the national election is still undecided (looking like Biden, a complete disaster), in almost every other respect Republicans (i.e. pro-shale candidates) won, big-time. Republicans gained seats in the U.S. House of Representatives, look to be keeping a majority in the U.S. Senate, and picked up seats in many state legislatures. Leftist Democrats poured BIG
Read More...MARCELLUS/UTICA REGION: CNX supports area school districts as part of ongoing COVID-19 community response; Natural gas shouldn’t be a partisan issue; Dominion comes full circle as it works to offload remaining US gas pipeline assets; NATIONAL: U.S. LNG exports continue weekly rise; Sempra looking at strategic funding options to support North America LNG plans; Ditch
Read More...Weatherford International Plc revealed its smart rod-lift solution, comprised of production optimization software, automation, and skilled engineers, boosted uptime 42% and increased production 37% for 40 reciprocating rod-lift wells in Sumatra, Indonesia on Nov. 5. The solution redefined the production strategy for the field, and the operator is currently installing the smart rod-lift solutions on
Read More...FTS International Inc. revealed that the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division has confirmed its prepackaged plan of reorganization, the company said on Nov. 5. Under the terms of the confirmed plan, which was approved at a hearing on November 4, 2020, the company accomplished the elimination of all of
Read More...Fort Wayne, Ind. — Cliff Chaffee, co-founder of BRC Rubber & Plastics Inc., died Oct. 30 at the age of 74. Cliff and his brother, Charles Chaffee, founded Bluffton Rubber Co. in 1973 in Bluffton, Ind. The brothers had grown up in the rubber industry, as their father had started and owned Ligonier Rubber Co.
Read More...U.S. frackers are bringing back equipment even as oil prices languish around $40 per barrel in a bid to boost production and tap into a backlog of drilled wells left uncompleted (DUCs) when oil prices crashed earlier this year. The number of active hydraulic fracturing fleets has climbed by nearly 50% since mid-September to 127,
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