Tree clearing is under way at the site of a proposed ethane cracker plant in eastern Ohio, even though a final investment decision is still pending by PTT Global Chemical America and its partner, Daelim. The companies last week announced they have hired a local firm to clear 140 acres in Belmont … Read more
Eclipse Resources and Blue Ridge Mountain Resources said Thursday they’ve completed their merger, announced last August, with the melded company now known as Montage Resources Corp. The company also announced it has entered into an amended and restated credit agreement to expand its borrowing base from $225 million to $375 million and extended the maturity … Read more
Argentina’s government has decided to change the country’s subsidy program for unconventional gas development leaving projects in limbo, Kallanish Energy learns from local producers YPF and Pampa Energia. The program, aimed at stimulating investments in the development and production of shale gas, offered companies a subsidy since 2013. Specifically, companies were offered a … Read more
A new analysis by the U.S. Chamber of Commerce’s Global Energy Institute finds the anti-energy “Keep It in the Ground” movement has prevented at least $91.9 billion in domestic economic activity and eliminated nearly 730,000 job opportunities, Kallanish Energy reports. In recent years, KIITG activists have attempted to derail energy projects with … Read more
Colombia’s state-run oil company, Ecopetrol, has applied for a permit to launch the country’s first hydraulic fracturing project, targeting unconventional resources in Magdalena Medio, central Colombia. According to CEO Felipe Bayon, the company filed a permit request with the country’s environmental agency and upon approval, the project could start in 2019. He didn’t say, however, when … Read more
An international financial services company has announced its withdrawal from financing tar sands oil and pipeline projects in Canada and the U.S., Kallanish Energy reports. The announcement of new investment restrictions from the Netherlands-based NN Group came last week. The company that manages 240 billion euros ($277.13 billion) said it would not … Read more
The quality of debt issued by the North American oil and gas industry has changed substantially – and not in a good way — over the past two years, Moody’s Investors Service says in a new report. While low-rated companies issued almost no debt between mid-2015 and mid-2016, since that time, “B”-rated … Read more
The availability of, and inexpensive price for, U.S. shale gas since 2010, has resulted in 333 chemical industry projects cumulatively valued at $202.4 billion being announced, with 53% of the investment completed/under construction, and 41% in the planning phase. Fully 68% of the total is direct foreign investment or includes a foreign … Read more
Natural gas production from the U.S.’s seven most prolific unconventional regions is projected to increase nearly 1 billion cubic feet per day (Bcf/d) from September to October, a new survey reveals. The U.S. Energy Information Administration’s monthly Drilling Productivity Report sees gas production climbing 961 million cubic feet per day (Mmcf/d) from this month to … Read more
The Permian Basin is the No. 1 drilling hot spot in North America. More than $90 billion in deals have been made in the Permian Basin in West Texas and southeast New Mexico from January 2013 through July 2018, according to a new report. The report was prepared by staffers of Ralph … Read more
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