A new report from the Pennsylvania Independent Fiscal Office has reported a 6.8% increase in quarterly natural gas production, according to Kallanish Energy. The report stated production increased to 1,766 billion cubic feet in the first quarter of 2020, compared to 1,654 billion cubic feet during the same period in 2019. The 6.8% growth rate
Read More...Turkey’s imports of liquefied natural gas (LNG) surpassed purchases of pipeline gas for the first time ever in March, Kallanish Energy reports. Data released by the Turkish Energy Market Regulatory Authority (EMRA) late last week showed LNG imports increased by 8.2% year-on-year and accounted for 52.5% of the total gas imports that month. Some 2.06
Read More...The Trump administration provided a major boost to developers of renewable energy, in the wake of the coronavirus pandemic, Kallanish Energy reports. The U.S. Treasury Department and the Internal Revenue Service last week issued a Notice 2020-41 to provide tax relief to affected taxpayers involved in solar and wind projects by extending the safe harbor
Read More...New Jersey’s largest solar facility is now in operation. The 28.5-megawatt facility in located on Naval Weapons Station Earle in Tinton Falls, New Jersey, Kallanish Energy reports. The facility on 170 acres was designed and built by CS Energy LLC. with headquarters in Edison, New Jersey. It is owned by Vitol Green Holdings, Ben Moreell
Read More...The number of drilling rigs in the United States continued to plummet, Kallanish Energy reports. The total dropped by 17 in the count released last Friday by Baker Hughes, the Texas-based well services company. There were 301 rigs at work in the U.S., down from 318 on May 22. A year ago, there were 984 rigs at work. That
Read More...A federal appeals court has refused to lift the ruling of a Montana federal judge that blocks construction on the Keystone XL oil pipeline. That ruling could add a new delay for the $8 billion pipeline project from western Canada to the U.S. Midwest, Kallanish Energy reports. TC Energy, the Canadian company behind the pipeline,
Read More...U.S. pipeline operator Williams plans to add solar power at natural gas-processing plants and natural gas pipeline facilities in nine states, Kallanish Energy reports. The move is made possible by generous federal and state tax credits, the Oklahoma-based company said. The company plans to add mini-solar farms ranging in size from 1 megawatt to 40
Read More...A final investment decision on a proposed $6 billion ethane cracker complex in eastern Ohio has been postponed to 2021 due to the coronavirus pandemic, Kallanish Energy reports. That announcement came from PTT Global Chemical America in a May 20 report in The Nation, an English-language newspaper in Bangkok, Thailand. That report was tracked down
Read More...David C. Lawler is adding to his titles at BP America, Kallanish Energy reports He is currently the CEO of BPX Energy and will become chairman and president of BP America on July 1, succeeding retiring Susan Dio. He will remain as CEO of BPX Energy. “Beyond a track record of delivering strong safety, environmental
Read More...Royal Dutch Shell announced on Thursday it will cut its shareholders dividend by 66% to bolster resilience as it forecasts long-term uncertainty, Kallanish Energy reports. CEO Ben Van Beurden said that the decision to reduce the quarterly dividends from 47 cents to 16 cents was driven by the “continued deterioration in the macroeconomic outlook and
Read More...Gazprom’s 2019 full-year net profits dropped 17% year-on-year, on the back of lower prices and sales volumes to Europe, Kallanish Energy reports. The Russian gas giant reported on Wednesday a net profit attributable to shareholders of 1.2 trilion rubles. Its total sales revenues (net of tax, VAT and customs) were down 7% year-on-year, led by
Read More...Peregrine Energy Partners has acquired royalty interests in Washington County, Pennsylvania as well as in Tyler and Richie Counties in West Virginia from various undisclosed sellers, according to EIN Presswire. Some of these acquisitions came from well-known producers such as Range Resources, Antero Resources and EQT Corporation. “The Appalachian Basin and specifically the Marcellus Shale
Read More...EQT recently closed on the $125 sale of non-core assets in the Appalachian Basin to Diversified Gas and Oil PLC, according to Kallanish Energy. The deal includes potential contingent considerations of up to an additional $20 million, based on future commodity prices. It also relieves EQT of about $47 million in asset retirement obligations and
Read More...A recent report from Tudor Pickering Holt revealed the Marcellus Shale has dethroned the Permian Basin as the U.S. shale play with the most active fracking crews in the field, according to Seeking Alpha. The Marcellus Shale currently holds 31% total U.S. active frack crews in the field in May, followed by the oil-rich Permian
Read More...Ascent Resources, LLC recently announced Brooks M. Shughart has been named Executive Vice President — Chief Financial Officer, effective May 18, 2020, according to Yahoo Finance. Shughart will replace Jennifer M. Grigsby, who is reportedly leaving Ascent to pursue other interests. Shughart comes to Ascent from First Reserve, an energy-focused private equity fund. Shughart worked there for eight years,
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