From Bloomberg Blaze contained at PES facility, major New York supplier, refinery is largest such complex in U.S. East Coast region Gasoline futures jumped the most in three months after an explosion and fire at the Philadelphia Energy Solutions oil refinery, the largest on the U.S. East Coast and a key supplier to the New York gasoline market. The fire
CEOs rank Texas at the top, California at the bottom Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again. In the executive summary of its findings, the magazine quoted a consultant as saying: ” ‘the Chief Executive ranking … reflects what decision-makers are saying. And it’s what
Natural gas liquids production in the Marcellus and Utica formations expected to nearly double in Ohio, Pennsylvania and West Virginia, drawing petrochemical expansion According to a new study from IHS Markit, the Marcellus and Utica shale formations’ production will increase exponentially in the next two decades, driving petrochemical growth in the region. Natural gas from the tri-state region of Ohio,
From Reuters Pennsylvania Governor Tom Wolf on Thursday proposed a tax on extracting natural gas to pay for his plan to spend $4.5 billion over the next four years to improve the state’s infrastructure. The state legislature, however, has refused to approve the tax over the past couple of years. Wolf said Pennsylvania is the only state in the country
Southwestern Energy (ticker: SWN) reported its Q3 results and held its Q3 earnings call today, providing more information about Northeastern Appalachian dynamics, NGL production growth, and also discussed the merits of liquid-rich wells. Highlights from the Q3 results include: Generated positive net cash flow after capital investment; full year capital guidance unchanged Reported net cash provided by operating activities of
Pennsylvania natural gas production has been on an upward curve since 2009. According to the EIA, Pennsylvania averaged a record 15 Bcf/d in 2017. Producers have the Appalachian Basin to thank – Pennsylvania accounted for 19% of total U.S. marketed natural gas production. Increased permitting and drilling activity, combined with the expansion of regional pipeline capacity has helped Pennsylvania’s natural
Severe temperatures and extreme prices push FERC toward pipeline approval; will bring Marcellus gas to Pa., NJ customers According to PennEast Pipeline Company LLC, the Federal Energy Regulatory Commission (FERC) recognized the need for and the public benefit of the PennEast pipeline and issued an order on January 19, 2018, under section 7(c) of the Natural Gas Act – approving
New York spot prices reaching $46.50/MMBTU A heavy winter storm roared through New England today, bringing high winds and snowfall to the region. Morning forecasts predicted New York could see snow accumulations of nine inches, and even higher snowfalls in many other major cities. This storm follows several weeks of cold weather throughout the U.S., which fueled massive natural gas
Cabot presents at EnerCom’s The Oil & Gas Conference® During Cabot’s breakout session, management was asked the following questions: Where are you in terms of held by production in the Eagle Ford in the next 3-5 years and would you consider divesting and investing in the Marcellus instead? What should we model for Eagle Ford in terms of EUR, oil
Natural gas production in Pennsylvania increased by 550,937 MMcf in 2015 The production of natural gas continued to climb in Pennsylvania in 2015 despite lower commodities prices, and a decrease in drilling activity. A report from the state’s Department of Environmental Protection found Pennsylvania produced 4.6 trillion cubic feet of natural gas during the year, maintaining its position as the
Antero Resources (ticker: AR) has signed an agreement with Southwestern Energy (ticker: SWN) to acquire approximately 55,000 net acres in the core of the Marcellus shale, the company announced on June 9, 2016. Approximately 75% of the 55,000 net acres contains dry Utica rights. The acquisition includes undeveloped properties located primarily in Wetzel, Tyler and Doddridge Counties in West Virginia
Royal Dutch Shell announced on June 7, 2016, that the final investment decision has been given for construction of a petrochemical plant in western Pennsylvania. The plant will be located near the Marcellus and Utica shale plays and will collect ethane from the area to make ethylene for use in the manufacturing of plastics. The plant announcement was five years
