Post Tagged with: "West Virginia"

Enbridge to Keep Kentucky Gas Pipe Shut for at Least a Week After Blast

Enbridge to Keep Kentucky Gas Pipe Shut for at Least a Week After Blast

From Reuters Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12. Enbridge said in a notice to customers Monday afternoon it is working with federal and state officials investigating the incident and has not estimated when the damaged section of pipe will return to service. The U.S. National Transportation Safety Board has assumed control of the incident site in Kentucky and Enbridge said it is supporting that investigation. The blast, near Danville, Kentucky, was the second so far this year on the Texas Eastern system following an explosion in Ohio in January that injured at least two people. It was also the third big blast for Enbridge in less than a year following an explosion in British Columbia on its Westcoast system in October. Traders noted the Kentucky blast[Read More…]

Source: PRNewsfoto/Contura Energy

Contura Energy Appoints New CEO and Board Member

By Tyler Losier, Energy Reporter, Oil & Gas 360 Contura Energy selects David J. Stetson as its new CEO and as a member of its board of directors Contura Energy (stock ticker: CTRA), a Tennessee-based coal supplier, has unanimously elected David J. Stetson as the company’s new chief executive officer, as well as a member of its board, effective July 29. Previously, Stetson served on Contura’s board from November 2018 to April 2019. He replaces Andy Eidson, Contura’s executive vice president and chief financial officer, and Mark Manno, Contura’s executive vice president, chief administrative and legal officer and secretary, who were appointed as interim co-CEOs while the board conducted its search for the company’s permanent CE… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Source: Lineal Industries

E&P Diversifies Through Merger

By Tyler Losier, Energy Reporter, Oil & Gas 360 Acquisition of Lineal Star completed in an all-stock transaction Camber Energy (stock ticker: CEI), an independent E&P with a new focus on adding midstream, downstream and field service activities, closed its previously announced acquisition of Lineal Star Holdings on Monday through an all-stock transaction by entry into an agreement and plan of merger. Lineal Star Holdings, based in Houston, is the parent company of Pittsburgh-based Lineal Industries and Houston-based Lineal Star Incorporated, both of which are now owned by Camber as a result of the merger. Source: Lineal Industries For the last 64 years, Lineal Industries has provided upstream, midstream, utilities p… Login or click here to subscribe

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

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 they think that counts’. “In that regard, the best states can practically do no wrong, with their inherent advantages enhanced by enlightened administrations continually finding ways to be welcoming to CEOs and their economic booty. “Perennial No. 1 Texas is an example. Governor Greg Abbott risks the ire of indigenous football fans by comparing his state’s performance atop economic-development rankings to that of the New England Patriots of the National Football League, just repeatedly winning everything despite everyone else’s best efforts. “California has it real bad,” the magazine said, “with[Read More…]

May 16, 2019 - 1:09 pm Closing Bell Story, Economy, Jobs
Marcellus and Utica Region Will Supply Nearly Half of Nation’s Natural Gas by 2040: IHS

Marcellus and Utica Region Will Supply Nearly Half of Nation’s Natural Gas by 2040: IHS

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, Pennsylvania and West Virginia will supply 45 percent of the nation’s production by 2040, up from 31 percent this year, according to the IHS study. The production of the highly lucrative natural gas liquids ethane, propane and butane (LPG) is expected to nearly double in the same period, accounting for 19 percent of the nation’s total by… Login or click here to subscribe

Source: Virginia Mercury

Mountain Valley Pipeline Project 70% Complete by Year-End

Mountain Valley Pipeline Project 70% Complete by Year-End

December 14, 2018 - 6:30 am Closing Bell Story, Midstream, Press Releases
U.S. Becomes World Energy Leader, Surpassing 11 Million Barrels of Oil per Day

U.S. Becomes World Energy Leader, Surpassing 11 Million Barrels of Oil per Day

The rapid growth of oil production from shale combined with returning GOM production have succeeded in making the United States the leading crude oil producer in the world. The U.S. set a new record for daily oil production at 11.3 MMBOPD in August 2018, according to new data from the EIA. Thanks largely to U.S. shale, the fast-growing production from the U.S. has moved the United States ahead of both Russia and Saudi Arabia. EIA’s estimates of crude oil production from tight formations in August 2018 reached 6.2 MMBOPD, or 55% of the national total. Source: U.S. Energy Information Administration, Petroleum Supply Monthly U.S. crude oil production has increased significantly during the past ten years because of production from onsh… Login or click here to subscribe

November 1, 2018 - 2:05 pm Closing Bell Story, Industry Insights, International
Report: West Virginians Saved More Than $4 Billion Over 10 Years from Lower Natural Gas Prices

Report: West Virginians Saved More Than $4 Billion Over 10 Years from Lower Natural Gas Prices

Report: West Virginians Saved More Than $4 Billion Over 10 Years from Lower Natural Gas Prices

September 18, 2018 - 8:30 am Closing Bell Story, Energy News, Press Releases
Source: WPX

West Virginia’s Co-Tenancy Drilling Bill a Compromise

Teachers’ strike impacted bill with threat of higher severance taxes From the Gazette-Mail WHEELING — After a long-awaited “co-tenancy” bill was signed into law, presenters at an oil and gas conference told industry players Wednesday to make sure the industry agrees internally on how to interpret the bill and to flag aspects of it that could cause issue. “There’s going to be multiple ways of reading it, and I know our working group is really just trying to start at that place and make sure that we all internally agree on how it’s to be read, which is often why you get into lawsuits with things like this,” Anne Blankenship, executive director of the West Virginia Oil and Natural Gas Association, said of the bill during a panel at the organization’s 2018 spring meeting at the Oglebay Resort & Conference Center, in Wheeling. House Bill 4268, referred to as the “co-tenancy[Read More…]

West Virginia Suffers Worst Industrial Job Loss since the Recession

West Virginia Suffers Worst Industrial Job Loss since the Recession

Coal industry sheds 21% of its West Virginia jobs, no longer state’s largest industrial employer West Virginia shed more industrial jobs over the past twelve months than at any year since the end of the recession, according to a new report in the 2017 West Virginia Manufacturers Register®, an industrial database and directory published by Manufacturers’ News. According to the report, West Virginia lost 3,243 jobs between August 2015 and August 2016, a 4.3% decline. West Virginia is home to 1,696 industrial companies employing 72,422. Coal leads W.Va. job losses The job losses were led by West Virginia’s coal industry, which shed 1,861 jobs or 21%, falling from its top spot as the state’s largest industrial employer within the space of the past year. Coal mining now ranks third in the state for industrial jobs, employing 7,184. Chemical manufacturing now employs the most in the state; in 2nd place, industrial machinery[Read More…]

The Six States Being Hammered Hardest by Lower Oil Prices

The Six States Being Hammered Hardest by Lower Oil Prices

Lower severance taxes are severely squeezing budgets in oil producing states, some to “revenue failure” Severance taxes on oil and gas extraction make up a significant portion of the budgets of a number of states in the U.S., but the rapid decline of prices since November of 2014, has put several of those states in a bind as they prepare to re-evaluate current and upcoming operating budgets and taxation structures. According to the Energy Information Administration (EIA), Alaska, Texas, North Dakota, Wyoming, Oklahoma, and West Virginia, in particular will be strongly affected by the coming re-evaluations. Alaska especially vulnerable due to tax structure Alaska has seen severance taxes fall faster than other states because the amount it collects is based on the operators’ net income rather than on the value or volume of oil extracted. Because net income after operating and capital expenses were near zero, the state collected almost[Read More…]

Source: WPX

West Virginia’s Coal Industry is Reeling – Will Shale Gas Take Its Place?

An Exclusive Interview with Keith Burdette, Secretary of Commerce for West Virginia Coal has powered West Virginia’s economy for centuries. Generations of West Virginians have come and gone in the Mountain State, and its stalwart blue-collar coal industry continuously attracts the next wave of young people in search of a career in the rolling hills of Appalachia. But the latest generation of West Virginia coal miners—and the ones coming up behind them—are faced with unprecedented uncertainty: do we have a future? The Environmental Protection Agency’s severe regulatory enforcements on coal-fired power plants, combined with the evolution of natural gas as a less carbon intensive fuel generator—sometimes referred to as a “bridge fuel” by environmental policy makers—are threatening the viability of the Appalachia’s most relied-upon resource. Keith Burdette, Secretary of Commerce for West Virginia, has watched the state’s economy develop throughout his lifetime. Burdette was elected to the West Virginia State Senate[Read More…]

Trans Energy, Inc. Provides Operations Update On Marcellus Horizontal Drilling Program

Company Posts Record 30-Day IP Rates T. MARYS, W.Va., Nov. 8, 2012 /PRNewswire/ — Trans Energy, Inc. (ticker: TENG), a pure play Marcellus Shale exploration and production company, today announced production results on the Dewhurst #110H and Dewhurst #111H in Wetzel County, West Virginia. 30-Day Production Rates Set Company Record Initial 30-day production rates from the Dewhurst #110H and Dewhurst #111H averaged 6,765 Mcfe/d and 8,146 Mcfe/d, respectively. Both the Dewhurst #110H and Dewhurst #111H produced at rates significantly higher than the Keaton 1H, previously Trans Energy’s best performing well in the Marcellus, which averaged an initial 30-day production rate of 5,074 Mcfe/d. John G. Corp, President of Trans Energy, said, “Results from the Dewhurst #110H and #111H further validate our strategic position in the wet gas section of the Marcellus Shale located in Wetzel County, West Virginia.  Improved execution, combined with enhanced drilling techniques, drove 30-day production results to[Read More…]

November 8, 2012 - 5:04 pm Oil and Gas 360 Articles, Regulatory