French energy major Total posted on Thursday losses of over $8.37 billion during second-quarter driven by impairments, lower hydrocarbon prices and production levels, Kallanish Energy reports. The net loss compares to a net profit of $2.76 billion during the same period last year, as “exceptional circumstances” led to asset impairments totalling $8.1 billion. The majority
Read More...U.S. independent E&P firm Apache Corp. reported on Thursday net losses of $397 million in the second quarter of 2020, alongside a new oil discovery on Block 58 offshore Suriname. The net loss attributable to shareholders was driven by significantly lower revenues from oil production during second quarter compared to the previous year, which fell
Read More...... … … [Editor Comment: Pipelines here at home in the U.S. are ever harder to get done as extremist opponents tie them up in courts, but China is moving ahead ever faster.] While pipelines in the United States face increasingly hostile legal challenges, China is seeing the importance of a national oil and natural
Read More...Montage Resources Corp. has agreed to sell noncore natural gas gathering assets in Ohio’s Utica Shale for $25 million to an undisclosed company, according to Natural Gas Intelligence. According to Montage, an international company agreed to purchase the infrastructure. The transaction is expected to close in the fourth quarter of this year. Montage will use
Read More...Improving demand and higher feedstock costs sent North American prices for polyethylene, solid polystyrene and suspension PVC resins up in July. Regional prices for all grades of PE jumped 5 cents per pound in July as strong demand combined with lower output at some locations. PE prices in the region had moved up 4 cents
Read More...The need for new infrastructure and the importance of American energy were the key messages during President Donald Trump’s speech during his visit to Midland-Odessa, the de facto capital of the Permian Basin. The president was in the world’s largest oilfield to tour an oil rig and speak to constituents about the importance of the
Read More...Governor Jared Polis, Democratic leaders behind SB 181, Colorado Rising, and the oil and natural gas industry all agree that 2020 is not the year for a fracking fight in Colorado. Nonetheless, Colorado’s “Keep It In The Ground” activist groups are promising to forge ahead with more anti-oil and natural gas ballot measures in 2021
Read More...Two weeks ago there were 27 new permits issued in Pennsylvania for shale drilling. Last week, July 20-24, there were only 3 new PA permits. Ouch. Finally, after several weeks of no shale permits in Ohio, the Buckeye State issued 8 new shale permits–all for the same well pad. In West Virginia, there were 3
Read More...Earlier this month Dominion Energy announced it is throwing in the towel and canceling the 600-mile Atlantic Coast Pipeline (ACP) project that would have stretched from West Virginia to North Carolina. The company also announced it is selling its pipeline business to Warren Buffett (see Dominion Cancels Atlantic Coast Pipe, Sells Pipe Biz for $9.7B).
Read More...Yesterday MDN brought you the news that CNX Resources is buying out the balance of what they don’t own in their pipeline subsidiary CNX Midstream (see CNX’s Competitive Advantage: Owning Its Own Pipelines). Our take on the news is that by owning their own pipeline network CNX has a distinct competitive advantage. We heard in
Read More...Less than one year after buying Baker Hughes, GE decided it didn’t want its bright shiny new toy anymore and would divest itself of Baker Hughes (see GE Dumping Baker Hughes in Bid to Boost Stock Price). Baker Huges separated from GE last October and has been its own company since that time. However, GE
Read More...The National Whistleblower Center (NWC), a partisan (Democrat) nonprofit group, last December launched what it calls a “Climate Corruption Campaign” to “enlist whistleblowers in the fight against fraud and other crimes in the three industry sectors responsible for the vast majority of the world’s carbon pollution: oil and gas, coal, and industrial logging” (see Blowing
Read More...Garland L. Thompson, Esq.Journalist and Author, Philadelphia Garland Thompson carefully explains the opportunities created by natural gas, plastics makers and the Mariner East despite usual suspect opposition. A Delaware Business Now story on Glasgow-based Polymer Technologies raises interesting implications. If i were to hazard a guess, I’d say Polymer Technologies gets its propylene, polypropylene and
Read More...Rick HidukManaging Editor of EndlessMtnLifestyles.com … … Industry partners in the new CDL school at SCCCTC put together a job fair for trainees, as it hopes to put them to work sooner rather than later! With one month of classroom work under their belts, plus time in a driving simulator and a real rig with
Read More...... … … [Editor Comment: Fractivists in Colorado and other states are using setbacks as a weapon to try to destroy the oil and gas industry and there is nothing fair about them.] The ballot proposal to undercut Colorado’s status as a major oil and natural gas producer is back. Well, sort of. Two years
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