Pointe LNG raising investment capital for La. project

A proposed liquefied natural gas facility in Louisiana that had been dormant is alive again, Kallanish Energy reports. Pointe LNG has hired Whitehall & Co. to raise investment capital and secure offtake for a liquefaction/export facility in Plaquemines Parish, Louisiana, to process 6 million tons per year of LNG. It said $4 billion in capital … Read more

Commissioning continues at Elba Island LNG

The Federal Energy Regulatory Commission has given Kinder Morgan approval to introduce feed gas into Unit No. 8 at Elba Island LNG in Georgia, Kallanish Energy reports. It is one of 10 modular units at the LNG facility outside Savannah, Georgia. Six of the units are in service with two additional units starting commissioning activities. … Read more

Well drilling in Canada expected to drop by 31% in 2020: PSAC

The Petroleum Services Association of Canada (PSAC) is predicting that well drilling in 2020 will be at its lowest level in decades, Kallanish Energy reports. In a second update, the Alberta-based national trade group said has revised the number of wells expected to be drilled this year to 3,100. That is a reduction of 31% … Read more

North Dakota sets May 20 hearing on O&G production cuts

A third state is looking into requiring oil and natural gas production cuts: North Dakota. It would join Texas and Oklahoma that are both considering similar proposals. North Dakota, the No. 2 oil production state in the United States, have set a May 20 hearing on whether or not the current production of oil and … Read more

Chesapeake Energy adopts poison pill to block a takeover

Chesapeake Energy has adopted a poison pill shareholder rights plan to protect the company from any takeover attempts due to its low stock prices, Kallanish Energy reports. Last Thursday, the Oklahoma-based O&G company adopted what is called a purchasing dividend for shareholders or a shareholder rights plan. The shareholder rights can be exercised if a … Read more

Texas, Oklahoma mulling state cuts to oil, gas production

      Texas and Oklahoma are both looking at cutting production of crude oil and natural gas because of low prices tied to the coronavirus pandemic and the oil price rout. On Tuesday, the Texas Railroad Commission held a 10-hour video hearing with 55 witnesses including energy companies and trade groups on a possible … Read more

Federal biological review delayed for MVP

A federal review of the under-construction Mountain Valley Pipeline (MVP) and its impacts on endangered or threatened wildlife has been delayed again, Kallanish Energy reports. The Federal Energy Regulatory Commission, the U.S. Fish & Wildlife Service and Mountain Valley Pipeline last week agreed to take another 32 days to April 27 to complete the biological … Read more

Tesla to produce ventilators at NY solar plant

Tesla has announced that it intends to retool a solar panel factory in western New York state to manufacture medical ventilators due to the coronavirus pandemic, Kallanish Energy reports. That plan for the Tesla Giga New York factory in Buffalo, New York, was announced last week in tweet by CEO Elon Musk. Tesla will make … Read more

EOG Resources cuts $2 billion or 31% from capex budget

      Texas-based EOG Resources is cutting its 2020 capital spending by $2 billion or 31%, in the wake of the spreading coronavirus and the crude oil price war between Saudi Arabia and Russia that is impacting U.S. shale producers. EOG said it intends to reduce activity across all of its operating areas and … Read more

Enbridge to proceed with $500M Line 5 Pipeline tunnel

Enbridge announced Friday that it intends to build a $500 million pipeline tunnel under the Straits of Mackinac after a long and continuing legal fight with the state of Michigan, Kallanish Energy reports. The Canadian pipeline company said it has hired two contractors to proceed with the disputed Line 5 tunnel project. The tunnel will be … Read more

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