Antero Resources, one of the largest drillers in the Marcellus/Utica, working primarily in West Virginia, issued its third-quarter 2020 update yesterday. The company lost $536 million due to a $749 million “unrealized commodity hedge movement in fair value.” High finance stuff. Production averaged 3.8 billion cubic feet equivalent per day (Bcfe/d), which includes a lot
Read More...In July, now-former Ohio House Speaker Larry Householder and four of his associates were indicted for felonies related to an alleged $60 million bribery scandal in passing the hugely unpopular House Bill 6 (see FirstEnergy Involved in Bribery Scheme to Pass $1B Nuke Bailout Law). HB 6 gives Energy Harbor, a FirstEnergy subsidiary, $150 million
Read More...The Enverus U.S. rig count rose by 1 to 348 over the past week, after having going up by 11 and 13 (respectively) the two weeks prior. However, the count in the Marcellus Shale dropped by three rigs in the wet gas area and the Marcellus dry gas region gained 1 rig, for a net
Read More...When checking the NYMEX futures price for natural gas, which is based on the spot price at the Henry Hub in southern Louisiana, we had a surprise. Just a few days ago the NYMEX was showing right around $3 per million BTUs (or per Mcf, thousand cubic feet). Yesterday the price closed at $3.30/Mcf. Why
Read More...Rystad Energy says worldwide the oil and gas industry has lost some 400,000 jobs in 2020. About half of those, says Rystad, are jobs lost in the U.S. Reuters is quoting Secretary of Energy Dan Brouillette as saying U.S. oil production will likely not return to its pre-pandemic peak of 13 million barrels of production
Read More...MARCELLUS/UTICA REGION: Eying Pennsylvania, Trump officials pound on energy themes; Navarro: Pennsylvania’s ‘proud frackers’ help drive state’s economy; OTHER U.S. REGIONS: DoE issues LNG export extensions for three projects; Massachusetts DPU making gas companies review energy output to help state meet 2050 net-neutral goal; NATIONAL: U.S. weekly LNG exports keep climbing; Joe Biden’s flip-flops on
Read More...An employee of South Elgin, Ill.-based Hoffer Plastics Corp. left work early with a toothache one day in the spring and sadly never returned. She apparently got infected with COVID-19 going to one of her doctor appointments, and she ended up hospitalized in an intensive care unit for treatment. The woman seemed to be getting
Read More...Plastic products are critical weapons on the front lines in the battle with COVID-19. Obvious examples include clear shielding, nasal swabs, test kits, ventilators, masks and personal protective equipment. But that’s just scratching the surface. Most of the plastics supply chain has remained open throughout the pandemic. Not only did most processors stay open, but
Read More...Chase Plastic Services Inc. and many other firms have stepped up their efforts during the COVID-19 pandemic. Chase, a resin distributor based in Clarkston, Mich., donated and sold resin and 3D filament to companies, individuals and organizations for use in making face shields, protective shields, mask frames and ear savers for disposable masks, officials said.
Read More...You may have heard something about an election happening next week in the U.S. If you’re a voter in Ohio’s Lake, Cuyahoga or Geauga counties doing in-person voting, you can thank a plastics company, as well as poll workers, for helping to keep things safe. Avery Dennison Graphics Solutions in Mentor, Ohio, donated 10,000 vinyl
Read More...Sterling BurnettSenior Fellow, Energy and Environment, The Heartland Institute … … [Editor’s Note: The real Biden/Harris Energy/Climate Plan is far more dangerous than their equivocating political statements this October.] Pundits have regularly opined about the possibility of an “October Surprise,” in the 2020 election race, a Hallowe’en trick that could change Presidential fortunes for one
Read More...TC Energy on Thursday awarded more than $1.6 billion in contracts to six major American contractors to build more than 800 miles of the now-stalled Keystone XL Pipeline in three states in 2021, Kallanish Energy reports. The six companies will be responsible for hiring more than 7,000 union workers. The companies are Barnard Pipeline of
Read More...ConocoPhillips has reported a third quarter 2020 net loss of $450 million or 42 cents per share, Kallanish Energy reports. That compares to 3Q 2019 net earnings of $3.1 billion or $2.74 per share. Third quarter 2020 adjusted earnings were a loss of $300 million or 31 cents a share, compared with 3Q 2019 adjusted
Read More...Royal Dutch Shell said Thursday it is starting a new era of dividend growth, as it announced a portfolio reshape to meet cleaner energy needs, Kallanish Energy reports. The supermajor decided to raise its dividend by 4% to 16.65 cents in the third quarter and annually thereafter. In April, it had slashed the payout by
Read More...Norway’s Equinor posted on Thursday a net loss of $2.12 billion in the third quarter of 2020, hit by weak hydrocarbon prices but, mostly, impairment charges due to reduced future price assumptions. The company’s net income was 92% lower than the same period last year at $1.11 billion, as it recorded impairment charges of $2.93
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