EQT reports $601M loss in 3Q 2020

EQT, the largest producer of natural gas in the United States, reported a net loss of $601 million or $2.35 in the third quarter 2020, Kallanish Energy reports. That compares to a loss of $361 million or $1.41 per share in 3Q 2019. That loss was smaller than had been expected with lower operating costs … Read more

Gulfport Energy expected to file for Chapter 11 protection

Gulfport Energy, a major player in Ohio’s Utica Shale, is expected to file for a Chapter 11 reorganization in the coming days, Kallanish Energy has learned. The company, its revolver lenders and unsecured bondholders are expected to seek approval for a restructuring support agreement that includes debtor-in-possession financing. The Oklahoma-based company is dealing with about … Read more

India’s BPCL to buy 1Mtpa from Mozambique LNG

India’s state-run oil company, Bharat Petroleum Corporation (BPCL), will off-take 1 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the Mozambique LNG project, Kallanish Energy learns. BPCL’s financial director Neelakantapillai Vijayagopal told the media after a conference call this week that the company has signed a 15-year supply contract with the African project. … Read more

Azerbaijan becomes No. 1 gas supplier to Turkey

Azerbaijan’s state oil and gas company, SOCAR, said on Monday it has become the main natural gas supplier to Turkey, Kallanish Energy reports. “If a year ago Azerbaijani gas occupied the 4th-5th place in the Turkish market, now we are in the first place, which is very important for us and for Turkey, because gas … Read more

43,000 signees opposed to MVP extension

Opponents of the stalled Mountain Valley Pipeline have submitted 43,000 signatures urging the Federal Energy Regulatory Commission not to grant more time to complete the $5.7 billion pipeline, Kallanish Energy reports. The petitions were submitted to the federal agency on Monday. The signatures and comments were collected by the Sierra Club, Appalachian Voices, Chesapeake Climate … Read more

Contractor sues MVP over pipeline construction

A Texas-based construction company has filed a lawsuit against Mountain Valley Pipeline to get $103.8 million that it says it is owed, asking that the pipeline be sold to satisfy its claim, Kallanish Energy reports. The suit was filed by U.S. Trinity Energy Services LLC in Allegheny County Common Pleas Court in Pittsburgh, Pennsylvania. That … Read more

Total reduces Tellurian holdings: SEC filing

Tellurian Inc. has reported a second quarter 2020 net loss of $128.8 million or 53 cents per share on its Haynesville Shale in Louisiana and East Texas. That compares to a net loss of $40.5 million in 2Q 2019. The company lost $40.7 million in 1Q 2020. It reported an impairment of $81.1 million on … Read more

New federal LNG-by-rail rule published, lawsuit likely

The Trump administration has published a new rule that authorizes the bulk movement of liquefied natural gas (LNG) by rail, and that has resulted in two environmental groups announcing that they intend to sue because the rule creates a serious danger., Kallanish Energy reports The Center for Biological Diversity and Earthjustice pledged to fight the … Read more


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