EQT Corp. has started to reduce gas output in Pennsylvania and Ohio in response to lower demand caused by the coronavirus, which has cut the current prices for fuel, according to Reuters. EQT did not say how much gas it would curtail. However, U.S. pipeline company EQM Midstream Partners LP said in a federal securities
Read More...The Energy Information Administration’s latest Drilling Productivity Report indicates U.S. shale production is set to fall to a two-year low in the coming weeks, according to Yahoo Finance. EIA estimates show oil production from the country’s leading shale basins is set to fall by 197,000 barrels per day in June compared to a month earlier.
Read More...Although oil and natural gas permitting hit record lows in April, permitting may already be recovering, according to Natural Gas Intelligence. Analysis by Evercore ISI indicated oil permits climbed 19% from the final week of April to 166 during the first week of May. The Permian Basin accounted for the most permits with 100 —
Read More...A study released by the Environmental Defense Fund recently reported Pennsylvania’s oil and gas industry emits over 1.1 million short tons of methane annually — more than 16 times the amount reported to the state Department of Environmental Protection, according to Daily American. Although unconventional well operators reported 70,150 short tons of methane emissions in 2017, EDF’s
Read More...EQT recently reported a net loss of $167 million or 65 cents per diluted share in the first quarter of 2020, according to Kallanish Energy. During the first quarter of 2019, the company reported net income of $191 million or 75 cents per diluted share. The company is primarily attributing the decrease to the loss
Read More...Ascent Resources Utica Holdings recently reported a net income of $85 million and an adjusted net income of $36 million in the first quarter of 2020, according to Kallanish Energy. In the same quarter a year prior, the company reported a net loss of $85 million and an adjusted net income of $79 million. Additionally,
Read More...NextEra Energy Inc. announced this week it intends to sell $2.5 billion of equity units in the Florida-based electric utility parent, Kallanish Energy reports. Each equity unit will be issued at $50. Each unit will consist of a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a
Read More...The North Dakota Public Service Commission this week voted 3-0 to approve the proposed expansion of the Dakota Access Pipeline (DAPL), which involves building a pump station in Emmons County to help push up to twice as much crude oil through the line daily. Pipeline owner-developer Energy Transfer plans to begin construction on the facility this
Read More...Worldwide liquefied natural gas demand is expected to double by 2040 to 700 million tonnes, according to third party forecasts, Royal Dutch Shell reports in its Fourth Annual LNG Outlook, Kallanish Energy reports. LNG in 2019 rose a robust 12.5%, to 359 million tonnes, Shell stated. “The global LNG market continued to evolve in 2019,
Read More...Crude oil prices rose Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude inventories, Kallanish Energy reports. Gains, however, were held down by continuing worries about the spread of the Coronavirus outside China. The Energy Information Administration reported yesterday crude inventories rose only 414,000 barrels for the week ended Feb. 14, compared
Read More...U.S. solar industry jobs have jumped 167% in the last decade, from just over 93,000 jobs in 2010, to 249,983 jobs in 2019, according to the 10th annual “National Solar Jobs Census,” Kallanish Energy reports. The latest census, produced yearly by the nonprofit The Solar Foundation, found last year’s nearly 250,000-worker total was an increase
Read More...A new federal study concluded there’s no evidence that suggests oil and gas production in northern Pennsylvania has contaminated the state forest service’s rivers and streams, according to Kallanish Energy. The study was published earlier this month in the scientific journal Proceedings of the National Academy of Sciences (PNAS). It found no signs wastewater from fracked wells had
Read More...Dominion Energy is buying a 5% share in the Atlantic Coast Pipeline from Southern Co. for $175 million, according to Kallanish Energy. The deal makes Dominion, based in Richmond, Virginia, the majority partner in the project with a 53% stake. Duke Energy Corp., based in Charlotte, North Carolina, is now a minority partner with a
Read More...EQT Corp is considering selling a 1% royalty interest in its revenue from natural gas production, according to ShaleOhio. EQT’s new management team has been working to cut drilling costs and improve its financial outlook as domestic shale has experienced sharp price declines. During a third-quarter conference call, EQT evaluated ways to monetize its interest in
Read More...As a result of continued low natural gas prices, oil and gas companies have had to recalculate and reduce the value of their assets to reflect the down market, according to ShaleOhio. Last month, Chevron Corp. recorded a $10 billion impairment last month and more than half of it was attributed to assets in the
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