Low oil and gas prices amid the coronavirus pandemic proved to be the final blow for Chesapeake Energy Corp. as it filed for chapter 11 bankruptcy over the weekend, according to The Wall Street Journal. Although Chesapeake is the latest debt-laden oil and gas company to file for bankruptcy, it may not be the last.
Read More...The Trump administration has decided to allow rail shipments of liquified natural gas, as court and regulatory battles over pipeline projects have slowed the movement of natural gas to markets, according to the Star Tribune. The U.S. Pipeline and Hazardous Material Safety Administration published the rule last week, permitting rail shipments of the flammable and
Read More...UK’s oilfield services company, TechnipFMC, has bagged two new contracts from Norway energy major Equinor, Kallanish Energy reports. The deals are worth up to $189.7 billion and comprise pipelaying and subsea installation for projects in the Norwegian Continental Shelf, Equinor said on Tuesday. It covers the Breidablikk project and a gas import system for the
Read More...BP said on Tuesday it has invested in a geospatial analytics software company, as part of its plan to monitor and reduce methane emissions, Kallanish Energy reports. Through subsidiary BP Ventures, the company injected $5 million in the cloud-based Geospatial Analytics. The investment will enable Geospatial to develop its technology further and scale its application
Read More...Total-led liquefied natural gas project, Mozambique LNG, has reportedly been offered a five-year, $2.25 billion funding guarantee from the Mozambican government. Partners at the $20 billion onshore project are said to have agreed to the guarantee in lieu of an immediate equity contribution from state-run National Hydrocarbon Company (ENH). The company owns a 15% stake
Read More...U.S. liquefied natural gas (LNG) exporters could see the cancellation of an estimated 40-45 cargos for August loading, similar to levels reported for July loadings, Kallanish Energy reports. Citing unnamed sources, Reuters reported earlier this week Cheniere is likely to see 30 cargos canceled, while up to 10 shipments could be canceled from the Freeport
Read More...Italy’s energy infrastructure operator, Snam, has partnered with five international funds to invest in a 49% stake in Adnoc Gas Pipelines, in a deal valuing the Abu Dhabi company in $20.7 billion. The transaction, announced by Adnoc and the other companies on Tuesday, is expected to close in July. Once complete, the newly created subsidiary
Read More...Ohio’s Utica and Marcellus shale wells produced almost 5% less natural gas in the first quarter of 2020 than was produced during the same quarter a year earlier, according to the Canton Repository. Data from the Ohio Department of Natural Resources shows almost 582 billion cubic feet of natural gas was produced from the beginning
Read More...Pennsylvania Attorney General Joshua David Shapiro is charging Cabot Oil & Gas Company for environmental crimes related to their drilling operations in the Marcellus Shale, according to the Andover Leader. Cabot’s wells in the region are suspected to be the source of migrating gas that has contaminated drinking water and groundwater. Additionally, the company will
Read More...The United States Supreme Court ruled in favor of the Atlantic Coast Pipeline, allowing the pipeline project to cross underneath the Appalachian Trail, according to North American Oil & Gas Pipelines. The $5billion, 600-mile pipeline is being developed by Dominion and Duke Energy. It will help supply natural gas from the Marcellus and Utica shale
Read More...Range Resources recently pleaded no contest to a criminal conviction under a Pennsylvania grand jury investigation, including violations of the Solid Waste Management Act and illegal discharge of industrial wastes at a pair of Marcellus shale natural gas well sites in Washington County, according to the Observer-Reporter. The company will pay $50,000 in fines and
Read More...CNX Resources has shut-in 375 million cubic feet per day of natural gas production in the Appalachian Basin since May 1, but its planning on easing up by July, according to Kallanish Energy. The Pittsburgh-based company anticipates the volume of natural gas shut-in to decline to about 300 MMcf per day by July, and plans
Read More...EQM Midstream Partners, LP is nearing completion on its Mountain Valley Pipeline project with work about 92% complete, according to Yahoo Finance. The 303-mile natural gas pipeline is expected to begin full service early next year, despite delays and cost adjustments due to additional regulatory reviews along the way. Upon completion, the pipeline will move
Read More...Chevron and Shell’s upstream portfolios are the most resilient at oil price at $30 a barrel and offer the highest cash margins at $70/Bbl, according to analysts at Wood Mackenzie. Tom Ellacott and the Corporate Analysis team at the consulting firm have studied the resilience of the seven oil and gas majors: BP, Shell, Chevron,
Read More...Pennsylvania Attorney General Josh Shapiro on Monday announced that a state grand jury has charged Cabot Oil & Gas in connection with 15 environmental crimes in northeast Pennsylvania, Kallanish Energy reports. The company was charged with seven counts of prohibition against discharge of industrial wastes, seven counts of prohibition against other pollutions, and one count
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