The U.S. Bureau of Land Management raised $7.19 million on March 26 in a federal lease sale for oil and natural drilling in Utah, Kallanish Energy reports. A total of 111 parcels totaling 148,950 acres were offered, with 90 sold in the agency’s Canyon Country, Green River and West Desert districts. Those 90 parcels covered 135,123 acres.
Read More...An explosion Monday of a section of Enbridge’s Texas Eastern natural gas pipeline in Ohio created a fireball of flame and damaged homes, prompting the evacuation of nearby residents. The explosion appeared to have destroyed two homes, Chasity Schmelzenbach, emergency management director for Noble County, Ohio, told Reuters. Enbridge said two people
Read More...The planned Nigeria-to-Morocco natural gas pipeline (NMGP) faces a myriad of challenges and is “unlikely to materialize in the short or medium-term,” Kallanish Energy learns from analysts at Fitch Solutions Macro Research. The 5,660-kilometer (3,516-mile) combined onshore and offshore pipeline would cross 13 countries along the West African coast, delivering Nigerian gas to Morocco. Following an agreement in December 2016,
Read More...Argentina’s government has decided to change the country’s subsidy program for unconventional gas development leaving projects in limbo, Kallanish Energy learns from local producers YPF and Pampa Energia. The program, aimed at stimulating investments in the development and production of shale gas, offered companies a subsidy since 2013. Specifically, companies were offered a
Read More...Halcon Resources reported a first quarter 2019 net loss of $336.6 million, or $2.12 per diluted share, as it develops new strategic and financial plans, Kallanish Energy reports. That compares to a Q1 2018 net loss of $2.6 million, or 2 cents a share. The Denver-based company said it generated total revenue of
Read More...Independent oil and gas company Invictus Energy announced Tuesday a Memorandum of Understanding (MoU) with a Zimbabwe-based manufacturer for 20 years of natural gas, Kallanish Energy learns. The gas will come from the Cabora Bassa project, in the onshore Cabora Bassa Basin in Zimbabwe, a joint venture by Invictus (80% ownership) and
Read More...President Trump’s April 10 Executive Orders are the directives which, as the President said “ends the war on American energy.” One order primarily takes the shackles off energy infrastructure (pipelines) construction, while the second mandates the Environmental Protection Agency to review/modify an “outdated” section of the Clean Water Act that requires applicants
Read More...HOUSTON – There’s a silent battle being waged by no fewer than three groups trying to secure customers and/or funding for underground natural gas liquids storage in the states of Pennsylvania, Ohio and West Virginia. With Shell Chemical pushing hard to have its world scale ethane cracker 30 miles northwest of Pittsburgh operational by the
Read More...Antero Resources reported a net loss of $536 million or $1.99 per diluted share in the third quarter 202, Kallanish Energy reports. That compares to a net loss of $879 million or $2.86 per share in the 3Q 2019. The loss was driven by a $749 million unrealized commodity hedge fair value loss as a
Read More...China’s Sinopec is said to be ready to push development and investments towards the hydrogen supply chain, seeking leadership in future energy sources, Kallanish Energy reports. The giant oil refiner reportedly said on Thursday, during its earnings call, that it would “reallocate some of our resources all along the hydrogen chain.” The strategy is “a
Read More...Chinese demand for natural gas is expected to grow by 10% year-on-year this winter, as a Covid-19 recovery spurs higher residential and industrial consumption, state oil companies said on Thursday. Presenting at a gas seminar in Beijing, the companies said demand during the 2020/21 peak winter season is estimated at 148 billion cubic meters (Bcm),
Read More...China’s Sinopec reported a net profit attributable to shareholders of 24.45 billion yuan ($3.64 billion) during the third quarter, while boosting natural gas sales and maintaining production levels, Kallanish Energy reports. The company said in its financial statement net profit was down 44.7% compared to the 44.22 billion yuan ($6.6 billion) recorded a year ago,
Read More...Russia’s largest independent gas producer, Novatek, saw its production rise 4.5% year-on-year during the third quarter of 2020, despite a slight decline in total sales volumes, Kallanish Energy reports. The company said in its Q3 results that total gas production reached 19.13 billion cubic meters (Bcm) in the July-September quarter, up from 18.31 Bcm a
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
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
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