Chesapeake Energy wants to terminate a $300 million pipeline contract in its Chapter 11 bankruptcy proceedings, Kallanish Energy reports. That request has been opposed by pipeline giant Texas-based Energy Transfer. Now the Federal Energy Regulatory Commission is supporting Energy Transfer and is getting involved in the ongoing legal fight, Reuters reported. FERC has argued in
Read More...Pacific Gas and Electric said Wednesday it’s reached agreements to resolve wildfire claims made by 18 local public entities (cities, counties, districts and public agencies) impacted by the 2015 Butte Fire, 2017 Northern California wildfires and 2018 Camp Fire. Under the agreements, $1 billion in payments will be made as part of a Chapter 11
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...Embattled PG&E Corp. and its utility Pacific Gas and Electric, on Wednesday announced the appointment of William “Bill” Johnson as president and CEO, Kallanish Energy reports. In addition, the company, currently operating under Chapter 11 bankruptcy protection, named 10 new board members, to be appointed at the company’s next board meeting. The San Francisco-based utility
Read More...Oilfield services firm Parker Drilling Co. announced its common stock has been approved for listing on the New York Stock Exchange. Parker expects its common stock will begin trading tomorrow under the trading symbol “PKD,” the same trading symbol used for the company’s common when it was listed previously on the exchange. Last December, the
Read More...Bankrupt California power provider PG&E Corp. won court approval last week for a $5.5 billion loan to help maintain electricity and natural gas delivery and for investments to reduce the risk of wildfires as it reorganizes. The financing will comprise a $3.5 billion revolving credit facility, a $1.5 billion term loan and a $500 million
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