Crude oil futures rose slightly Wednesday as worries that rising tensions in the Middle East could impact global supplies overshadowed an unexpected rise in U.S. crude inventories, Kallanish Energy reports. U.S. West Texas Intermediate crude futures settled 24 cents higher, at $62.02 per barrel. Brent crude futures rose 53 cents, to $71.77/Bbl. U.S. crude stocks rose unexpectedly last
Read More...A natural gas explosion last September in a pipeline not yet in service has led to an independent producer backed by Goldman Sachs’s private equity arm and the Ontario Teachers Pension Fund filing for Chapter 11 bankruptcy, Kallanish Energy reports. EdgeMarc Energy Holdings plans to sell all of its assets, the company said Wednesday, blaming an
Read More...Marathon is combining MPLX and Andeavor Logistics — two of its oil and gas pipeline, transportation and storage operations — for $9 billion, according to the Dayton Daily News. The merger is expected to expand the company’s geographic footprint in the Ohio basin and enhance long-term growth opportunities. Andeavor unitholders will receive 1.135 MPLX common units for each
Read More...Nine properties along the PennEast Pipeline’s proposed route in New Jersey could qualify for historic designation, creating another hurdle for the project and raising the prospect of further delays, according to State Impact. According to Katherine Marcopul, deputy state historic preservation officer for New Jersey, the sites in question have structures dating from the early
Read More...EQT Production Co. has agreed to pay more than $300,000 in civil penalties for issues at Marcellus Shale drilling sites in Mon Valley, according to the Observer-Reporter. The violations involve sediment-laden water escaping the sites and the construction of a metering station without a Pennsylvania Department of Environmental Protection permit in Forward Township, Allegheny County.
Read More...The three municipalities affected by last September’s gas explosions have reached an $80 million settlement with local gas distribution company Columbia Gas of Massachusetts, Kallanish Energy reports. Of that amount, 50% will go to Lawrence, 30% to Andover and 20% to North Andover. The utility has already paid $67.1 million of the total settlement amount to
Read More...The volume of working natural gas injected into storage in the Lower 48 U.S. states the week of May 3, slowed from the previous week’s triple-digit increase, but marked the sixth straight week of volume increases, the Energy Information Administration reported. During the latest survey week, 85 billion cubic feet (Bcf) of working gas was
Read More...The number of rigs working onshore in the Lower 48 U.S. states last week fell by two, and brought to five the number of consecutive weeks the count has slipped, data from Baker Hughes, a GE company, reveals. At May 10, 955 rigs were working in the Lower 48, down two rigs from the previous week, and off 59
Read More...Dominion Energy recently announced plans to resume work on the Atlantic Coast natural gas pipeline from West Virginia to North Carolina in the third quarter to have it completed by early 2021, according to Reuters. However, the company still needs to resolve two major legal challenges before it can complete the pipeline, which was put
Read More...The owner of the plant where North America’s worst nuclear power-related accident took place four decades ago, confirmed the facility’s lone remaining operating unit will shut down this September, Kallanish Energy reports. Exelon Generation said Three Mile Island (Tmi) Generating Station Unit 1, located near Middletown, Pennsylvania, on an island south of the state capital city
Read More...EQT Corp. is not a Mom-and-Pop natural gas producer – and can’t be run like one – the board’s independent members said, in effect, to dissident shareholders looking to insert their board nominees into the operations of the U.S.’s largest gas producer. “The Board should not be a friends-and-family club, and it is not in
Read More...The U.S. government sued nearly two dozen of West Virginia Gov. Jim Justice’s coal companies Tuesday to get them to pay roughly $4.8 million in unpaid mine safety fines. The civil lawsuit was filed by federal prosecutors in Virginia on behalf of the U.S. Department of Labor and the Mine Safety and Health Administration, The Associated
Read More...Saudi Aramco is reportedly considering its first overseas gas project by investing in Equinor’s activities in the Marcellus Shale, according to Kallanish Energy. State-owned Saudi Aramco and Norwegian giant Equinor are in talks for interest acquisitions or joint ventures in the Marcellus Shale. Equinor currently operates over 344,000 acres in the Marcellus Shale. Saudi Arabia
Read More...DTE Midstream, a subsidiary of DTE Energy, recently increased its stake in a natural gas gathering system in the Marcellus Shale, according to Power Engineering. The company signed a deal with WGL Midstream Inc., to acquire an additional 30% interest in Stonewall Gas Gathering, an approximately 67-mile, 36-inch gas system located in West Virginia. DTE
Read More...Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Iraqi prime minister Adel Abdul-Mahdi announced Tuesday, Kallanish Energy finds. The project would boost output from Iraq’s southern oilfields, and includes plans to capture natural gas, which is currently being
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