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Court Approves Aegean’s Plan of Reorganization, Prepares to Emerge from Bankruptcy
March 27, 2019
Aegean Marine Petroleum Network Inc. said that the U.S. Bankruptcy Court for the Southern District of New York has confirmed its plan of reorganization, subject to minor modifications. This development paves the way for the company to emerge from Chapter
Parker Drilling Successfully Completes Restructuring Process
March 27, 2019
Parker Drilling Company has successfully completed its financial restructuring and emerged from Chapter 11 protection. Parker moves forward with a stronger financial position, having reduced total debt by approximately two-thirds, from $585 million to $210 million, and securing access to
Denbury Resources Scraps $1.7 Billion Acquisition of Penn Virginia
March 26, 2019
Denbury Resources has scrapped its previously announced $1.7 billion acquisition of rival US oil and gas company Penn Virginia citing “difficult market conditions” and lack of shareholders’ support. The company took up the deal with Penn Virginia to gain a
NETL Experts Say Research Could Improve Marcellus Shale Environmental Impacts
March 26, 2019
Research undertaken at the Marcellus Shale Energy Environmental Laboratory (MSEEL) in West Virginia could help cut the shale operation’s negative impacts on local and regional air quality, experts from the National Energy Technology Laboratory (NETL) report. “Oil and gas operators
Canada Earmarks $100 Million for Oil and Gas Technology Research
March 25, 2019
An oil and gas-focused group that made an unsuccessful bid under the federal government’s “supercluster” program has been awarded $100 million from Ottawa to develop and commercialize clean technologies. The money, which will be spread over four years and was
Wood Secures $34 Million Pipeline Construction Contract from RH energytrans
March 25, 2019
Wood has received a $34 million contract from RH energytrans for construction of a 45km new pipeline designed to carry natural gas from Pennsylvania to Ohio. Wood said that the contract has been awarded through a competitive tender process and
Pa. State Lawmakers Call for Expanded Natural Gas Pipeline Network
March 25, 2019
A group of bipartisan state legislators on Tuesday stood in solidarity with the oil and gas industry in promoting more pipeline development in the wake of Pennsylvania’s attorney general last week opening an investigation into the Mariner East II pipeline.
Utilities and Fossil Fuel Could Win Big from Ohio Bill to Reduce Regulations
March 25, 2019
Senate Bill 1 would require state agencies to cut 30 percent of regulations within three years, or eliminate two for every new one implemented. A broad proposal in Ohio to slash state regulations by 30 percent across the board could
Gulf of Mexico Lease Sale Yields $244 Million in Bids
March 22, 2019
The U.S. Department of Interior’s Assistant Secretary for Land and Minerals Management, Joe Balash, said that region-wide Gulf of Mexico Lease Sale 252 generated $244 million in high bids for 227 tracts covering 1.2 million acres in federal waters of
ArcLight to Acquire American Midstream Partners
March 21, 2019
American Midstream Partners, a Texas-based midstream infrastructure company, has agreed to a private equity buyout by an affiliate of ArcLight Energy Partners Fund V at $5.25 per share. The all-cash deal will see ArcLight acquire the stake that was previously
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