Balking from its previous estimate of a mid-2020 full in-service date, EQM Midstream Partners LP recently pushed completion of its Mountain Valley Pipeline back again, according to Reuters. The company doesn’t anticipate having the natural gas line that will run from West Virginia to Virginia finished until late 2020. The project’s estimated price jumps from
Read More...Saudi Aramco has delayed the planned launch of its initial public offering in hopes pending third-quarter results will raise investor confidence in the world’s largest oil firm, two sources familiar with the matter told Reuters. Aramco had been expected to announce plans this week to float a 1% to 2% stake on the kingdom’s Tadawul
Read More...The Carlyle Group, an international private equity/investment firm and the entity behind efforts to build a $1 billion crude oil export terminal at Harbor Island, Port of Corpus Christi, Texas, is pulling out of the project. The Washington, D.C.-based company said in a statement it’s dissolved its relationship with The Berry Group, Kallanish Energy finds. The
Read More...The effort to overturn nuclear bailout legislation in Ohio is now in the hands of a federal judge, Kallanish Energy reports. Ohioans Against Corporate Bailouts, the group that had been circulating petitions against House Bill 6 that would aid two nuclear power plants in Ohio owned by FirstEnergy Solutions, filed a lawsuit seeking more time
Read More...President Donald Trump is slated to provide keynote remarks tomorrow during the 9th annual SHALE INSIGHT conference, at the David L. Lawrence Convention Center in Pittsburgh, according to the Times Reporter. The conference focuses on policy, innovation and energy outlook. It is jointly hosted by the Ohio Oil and Gas Association, the Marcellus Shale Coalition
Read More...President Trump last Friday announced he has nominated deputy energy secretary Dan Brouillette to replace departing energy chief Rick Perry, Kallanish Energy reports. “I am pleased to nominate Deputy Secretary Dan Brouillette to be the new Secretary of Energy. Dan’s experience in the sector is unparalleled. A total professional, I have no doubt that Dan
Read More...Crude oil prices were lower Friday, as concerns about China’s economy outweighed strong signals from its refining sector, Kallanish Energy learns. But losses were limited on hopes for progress toward a U.S.-China trade agreement. Brent crude oil futures fell 49 cents, to settle at $59.42 a barrel, while U.S. West Texas Intermediate crude futures lost
Read More...The world’s largest oilfield services company surpassed Wall Street expectations on third-quarter revenue, but took a huge hit on the bottom line due to pretax charges, Kallanish Energy reports. Schlumberger reported an $11.4 billion loss on $8.54 billion of revenue during the quarter, a loss per share of $8.22 for common stockholders. One year ago,
Read More...Following a New York hedge fund’s recommendation to break Marathon Petroleum into three companies, CEO Gary Heminger and Greg Goff, one of the company’s directors, assured employees “the company intends to continue as a diversified oil and gasoline company,” according to Shale Ohio. Elliott Management, which owns 2.5% of Marathon’s stock, believes the company would be more
Read More...The Pennsylvania Department of Environmental Protection recently reached a settlement with CNX Gas Company, issuing a Consent Order and Agreement for well plugging violations in four southwestern Pennsylvania counties, according to Farm and Dairy. The agreement requires CNX to post a $1.48 million performance bond and provides an extended schedule for the company to plug
Read More...On Monday Enterprise Products Partners announced plans to proceed with a 31% capacity expansion of its Appalachia-to-Texas (ATEX) ethane pipeline, according to Kallanish Energy. The decision to move forward was determined by customer commitments received during a 30-day biding period that ended Sept. 25. The 1,200-mile ATEX line transports ethane from the Marcellus/Utica Shale plays in
Read More...Last week, the New Jersey Department of Environmental Protection denied permits necessary for the proposed $1.1 billion, 102-mile PennEast Pipeline project to move forward, according to Kallanish Energy. The DEP’s decision was directly impacted by last month’s ruling by the 3rd U.S. Circuit Court of Appeals that said PennEast couldn’t use eminent domain to acquire
Read More...Workers have finished erecting major parts of the plant, but some 6,000 electricians, pipefitters and welders are still working to connect the pieces and finish the project, according to Michael Marr, business integration lead for Shell Appalachia. Marr recently addressed attendees at Utica Summit VII on Thursday, providing an update on Shell’s petrochemical plant being
Read More...Carroll, Columbiana, Harrison, Belmont, Guernsey, Jefferson, Monroe and Noble counties in Ohio received $141.9 million in real estate property taxes from drilling from 2010-2017, according to the report released Wednesday by the Ohio Oil and Gas Association and Energy in Depth. Kallanish Energy Reported the top three counties benefiting from tax collections during the same period
Read More...The share of U.S. total utility-scale power generation from natural gas-fired power plants will rise from 34% in 2018, to 37% in 2019 and 2020, the Energy Information Administration forecasts in its October Short-Term Energy Outlook (STEO). EIA/STEO forecasts the share of U.S. electric generation from coal will average 25% in 2019, and 22% in 2020, down from
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