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Cenovus Energy to Acquire Husky Energy for $2.9 Billion
October 27, 2020
Cenovus Energy announced Oct. 25 it will acquire Husky Energy for $2.9 billion in an all-stock deal to combine their operations and create Canada’s third-largest oil and natural gas producer with output of about 750,000 boe/d as the merger wave
EQT Looks to Sell Mountain Valley Pipeline Capacity as Construction Gets Ready to Begin
October 27, 2020
The chief financial officer for EQT Corp. announced Thursday that the Pittsburgh-based natural gas producer is in discussions to offload some or all of its Mountain Valley Pipeline capacity. The 303-mile natural gas pipeline from Northwestern West Virginia to Southern
Natural Gas Plants Produce More Electricity than Any Other Source
October 27, 2020
Natural gas-fired generators accounted for 43 percent of operating electricity generating capacity in the United States in 2019, according to the U.S. Energy Information Administration (EIA). The generators provided 39 percent of electricity generation in 2019, and this is more
State Leaders and Industry Push to Export Utah’s Natural Gas to Asia
October 27, 2020
A decade ago, energy companies built a natural gas storage facility on Mexico’s Baja California coast to receive imported liquefied gas by ship and gasify it for distribution around northern Mexico. That plan didn’t pan out, but under a new
Texas Governor Abbott Responds After Biden Calls for Transition From Oil
October 27, 2020
Democrat Joe Biden’s debate remarks that he would “transition” away from the oil industry in favor of renewable energy sources drew quick attention Thursday from President Donald Trump, who saw it as a boon to his chances in key states.
U.S. House Members Launch Bipartisan Congressional Energy Export Caucus
October 27, 2020
Rep. Carol Miller, R-W.Va., is part of a bipartisan group of U.S. House members spearheading an initiative to maximize energy exports, including coal. Called the Congressional Energy Export Caucus, Miller, along with Representatives Henry Cuellar, D-Texas, Jodey Arrington, R-Texas, and
Chaparral Energy Emerges from Bankruptcy as Private Operator
October 23, 2020
Chaparral Energy has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC filing company. Through the efficient execution of its pre-packaged plan of reorganization, the company has equitized all $300 million of its unsecured 8.75
Minnesota Judge Rules in Favor of Enbridge’s Line 3 Replacement
October 23, 2020
An administrative law judge has found that Minnesota pollution regulators properly considered the construction impacts of Enbridge’s new pipeline, a blow to the oil pipeline’s opponents. The ruling by Judge James LaFave stems from a challenge to the draft water
Weir Group to Sell Oil and Gas Division to Caterpillar for $405 Million
October 23, 2020
The Weir Group has entered into an agreement for the all-cash sale of its entire Oil & Gas division to Caterpillar for an Enterprise Value of US$405 million, subject to customary working capital and debt-like adjustments at closing. This follows
OPEC+ Pledges to Take Action Amid Weak Oil Demand
October 22, 2020
The Organization of the Petroleum Exporting Countries (OPEC) and its allies (collectively called OPEC+) have pledged to take steps to support the oil market amid weak demand resulting from a second wave of the coronavirus across various countries. The second
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