NEW YORK—Petróleos Mexicanos’ (Pemex) US$8bn bank loan comes amid heavy investor uncertainty over the oil company’s debt load, but lenders wanting to maintain links with Pemex and the left-wing administration overseeing the firm may have little choice but to commit to the financing. The state-backed oil producer is tapping its relationship banks to refinance a
Read More...A natural gas explosion last September in a pipeline not yet in service has led to an independent producer backed by Goldman Sachs’s private equity arm and the Ontario Teachers Pension Fund filing for Chapter 11 bankruptcy, Kallanish Energy reports. EdgeMarc Energy Holdings plans to sell all of its assets, the company said Wednesday, blaming an
Read More...Crude oil futures rose slightly Wednesday as worries that rising tensions in the Middle East could impact global supplies overshadowed an unexpected rise in U.S. crude inventories, Kallanish Energy reports. U.S. West Texas Intermediate crude futures settled 24 cents higher, at $62.02 per barrel. Brent crude futures rose 53 cents, to $71.77/Bbl. U.S. crude stocks rose unexpectedly last
Read More...California authorities said Wednesday power lines owned and operated by Pacific Gas & Electric Corp. (PG&E) caused the state’s most destructive wildfire ever – which killed 85 and nearly destroyed an entire city, Kallanish Energy learns. Lines owned by the San Francisco-based utility sparked the Camp Fire on Nov. 8, in Butte County, California, the state Department of Forestry and Fire
Read More...Marathon is combining MPLX and Andeavor Logistics — two of its oil and gas pipeline, transportation and storage operations — for $9 billion, according to the Dayton Daily News. The merger is expected to expand the company’s geographic footprint in the Ohio basin and enhance long-term growth opportunities. Andeavor unitholders will receive 1.135 MPLX common units for each
Read More...HOUSTON—Hungarian Foreign Minister Peter Szijjarto said on May 15 his country would again turn to Russia for natural gas supplies if Exxon Mobil Corp. has not decided by September whether to invest in a massive Black Sea offshore project. Romania’s Black Sea reserves pose a potential challenge to Russian Gazprom’s dominant role supplying Central and
Read More...Williams’ Northeast Supply Enhancement (NESE) project was denied approval on Wednesday by the New York Department of Environmental Conservation, which cited concerns over water quality and aquatic life. The plans for NESE included about 23 miles of submarine pipeline off New York City’s coast. The nearly $1 billion plan to bring natural gas to the
Read More...[Editor’s note: This story was updated at 4:08 PM CST] DENVER—The politics in the Colorado Senate and House of Representatives around the passage of Senate Bill 181 “were horrible,” said Colorado Senator John Cooke (R-13), while speaking at Hart Energy’s DUG Rockies conference and exhibition on Wednesday. “It’s still a bad bill, but it does
Read More...Privately-held producers—some of them on their 4th Permian portfolio—continue to extend the outermost boundaries of the horizontal Midland and Delaware basins, making what was fringe quickly into what is now deemed core property. Here are some of these portfolios. This post appeared first on Hart Energy.
Read More...May 15, 2019 Updated 5/15/2019 Email Print Century Die Co., a manufacturer of blow molds in Fremont, Ohio, has won the American Mold Builders Association Tooling Trailblazer of the Year Award for work in education and drawing young people to the industry. AMBA presented the Tooling Trailblazer of the Year during the AMBA Conference, held
Read More...May 15, 2019 Updated 5/15/2019 Email Print Universal Robots Jürgen von Hollen, president of Universal Robots, left, and Jean-Michel Renaudeau, CEO of Sepro Group, sign the cobot partnership agreement at Universal Robots headquarters in Odense, Denmark. French robot maker Sepro Group and collaborative robot builder Universal Robots have signed an agreement in the areas of
Read More...A small, fringe group of “Keep It In the Ground” activists spoke out at a government meeting today using worn out tactics to push their campaign to end all oil and natural gas development in Colorado. The stakeholder meeting, the first public meeting hosted by the Colorado Oil & Gas Conservation Commission (COGCC) since the
Read More...May 15, 2019 Updated 5/15/2019 Email Print Work has begun on a new PET recycling plant on the East Coast that’s expected to open next year. CarbonLite Holdings LLC ultimately decided to construct the $80 million project in Muhlenberg Township, Pa., near Reading. That’s about 70 miles northwest of Philadelphia in Berks County. It was
Read More...Listen up landowners in Washington County, OH: For some of you, your shale lease may now be owned by someone else. Pin Oak Energy Partners, a relatively young Marcellus/Utica driller based in Akron, OH, has purchased all of Protégé Energy’s Utica Shale leases (and other assets) located in Washington and Noble counties in Ohio, and
Read More...EdgeMarc Energy, headquartered in Canonsburg, PA (with 45,000 acres of Marcellus/Utica leases), is filing for Chapter 11 bankruptcy, looking to sell all of the company’s assets. The reason? They can’t move their production to market because their main pipeline partner, Energy Transfer’s Revolution Pipeline, exploded last September and ET has not been able to get
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