05/13/16 Links of the Day: NEXUS Pipeline Facing More Hurdles, Belmont County Cracker Plant on Track, and More
Forbes: The 15 Biggest Oil Bankruptcies (So Far) - "The pace of oil patch bankruptcies is picking up. According to a new count from Houston law firm Haynes & Boone, April saw 11 bankruptcy filings, the most of any month in the past two years. The headline failures that month were Ultra Petroleum UPL +%, which buckled under $3.9 billion..."
Press release: Rex Energy Reports First Quarter Operational and Financial Results - "Operating revenues from continuing operations for the three months ended March 31, 2016 were $30.5 million, which represents a decrease of 44% as compared to the same period in 2015. Commodity revenues, including settlements from derivatives, were $43.5 million, a decrease of 33% as compared to the same period in 2015. Commodity revenues from oil and..."
Press release: EV Energy Partners Announces First Quarter 2016 Results - "Adjusted EBITDAX for the first quarter of 2016 was $20.2 million, a 62 percent decrease from the first and fourth quarters of 2015. EVEP reported Distributable Cash Flow of $(1.2) million for the first quarter of 2016. The decreases in Adjusted EBITDAX and Distributable Cash Flow were primarily attributable to lower realized commodity..."
Duke University: Radium Isotopes in Soil Reveal Age of Oil and Gas Wastewater Spills - "Spills from oil and gas operations can contaminate local water and soil with high levels of toxic chemicals, salts and radioactivity, but in many cases there is insufficient information to determine how long ago the spill occurred and identify..."
Plastics News: Shell Continues Preliminary Work on Possible Pittsburgh Petrochemicals Complex - "Shell Chemical LP continues with preliminary work that could lead to a massive petrochemicals complex in the Pittsburgh area — but the firm still has not fully committed to the project. A Shell spokeswoman recently confirmed that the company has built..."
Press release: Community Rights Ramp Up in Ohio - "Today residents in Meigs County and the City of Waterville launched their petition campaigns to place rights-based initiatives before voters this November. Meigs County residents are collecting signatures to create a Community Rights County Charter. Waterville residents are collecting signatures for a Bill of Rights..."
Akron Beacon Journal: Ohio Landowners Urge BLM to Proceed with Wayne NF Drilling - "Over the past few months, Landowners for Energy Access and Safe Exploration (LEASE) relayed the views of landowners throughout southeastern Ohio asking the BLM for the opportunity to develop their minerals. In addition, a wave of federal, state, and local bipartisan leaders, community organizations, businesses and labor unions joined..."
Seeking Alpha: UMH Properties' (UMH) CEO Samuel Landy on Q1 2016 Results - Earnings Call Transcript - "UMH has continued to execute our long term strategic business plan of acquiring and integrating communities in strong geographic areas below replacement cost, upgrading them, getting a rental home program, sales staff and marketing thereby building long term value for our..."
Energy Information Administration: Developing Economies in Asia Lead Projected Growth in World Energy Use - "Rising incomes in China, India, and other emerging Asia economies are a key driver of the global energy outlook. "Developing Asia accounts for more than half of the projected increase in global energy use through 2040." said EIA Administrator Adam Sieminski. "This increase will have a profound effect on..."
Natural Gas Now: Bill McKibben and Trial Lawyer Friends Flirt with Violence - "Bill McKibben loves white sheet cowards who flirt with violence, while extolling non-violent “direct action” and “rebellion,” a fact we noted in an earlier post. Rockefeller front groups such as 350.org and the Sustainable Markets Foundation, where trial lawyer and Fractivist Rasputin Jay Halfon fund..."
Wall Street Journal: EPA Ready to Issue Methane Limits for New Oil and Gas Wells - "The Environmental Protection Agency is set to issue on Thursday the first federal standards aimed at curbing methane emissions from the oil and natural gas industry, according to multiple people familiar with the..."
Rigzone: OPEC Pumps More Oil After Freeze Talks Fail, Says Oversupply Persists - "OPEC said the global oil market remains oversupplied and pointed to a larger supply surplus on the market this year, as its own surging output makes up for losses in outside producers hurt by the collapse in prices. Supply from the Organization of the Petroleum Exporting Countries is climbing after sanctions on Iran..."
Akron Beacon Journal: NARO Chapter Supporting Drilling in Ohio's Wayne NF - "The Appalachia chapter of the National Association of Royalty Owners (NARO), which represents royalty owners in Ohio, West Virginia, Kentucky, and North Carolina, are calling on landowners in Appalachia to engage in the public comment period underway in support of leasing in the Wayne National Forest with..."
Akron Beacon Journal: Belmont County Cracker Plant Not Delayed is on Track - "Plans for a $5.7 billion cracker plant on the Ohio River in Belmont County have not been delayed and are still on track, said Columbus-based spokesman Dan Williamson. Nothing has been delayed and nothing has been stopped, despite a recent newspaper report from Bankok about the project..."
Reuters: Ex-Magnum Hunter CEO Evans Starts New Texas Oil Fields Venture - "Gary Evans, a wildcatter who left his job as chief executive of Magnum Hunter Resources MHRCQ.PK just as it emerged from bankruptcy on Monday, is wasting no time getting back into the oil business despite the worst price rout in years. He has already formed a new venture called Energy Hunter Resources Inc and is close to buying two tracts of land..."
Gas & Oil: Doylestown Urges NEXUS to Rethink Route - "Council turned its focus to the NEXUS Gas Transmission pipeline in April, discussing where the pipeline is projected to go and efforts to get the developer to rethink its placement. Councilwoman Kay Kerr said the village is advocating the projected NEXUS pipeline pathway to be altered to..."
Akron Beacon Journal: 203 Deals in Five Years in Utica-Marcellus Worth $48.8 Billion - "There have been 203 mergers and acquisitions in the Utica and Marcellus shales from 2010 through 2014, according to a recent report from Timothy Knobloch of Marietta-based James Knobloch Petroleum Consultants Inc. and Martin Shumway of Shumway Resources in..."
Reuters: Trump Taps Climate Change Skeptic, Fracking Advocate as Key Energy Advisor - "Republican presidential contender Donald Trump has asked one of America's most ardent drilling advocates and climate change skeptics to help him draft his energy policy. U.S. Republican Congressman Kevin Cramer of North Dakota - a major oil drilling state - is writing a white paper on energy policy for the New York billionaire, Cramer and sources familiar with the matter told..."
World Oil: Oil at $45 Proving No Savior as Bankruptcies Pile Up - "Three bankruptcies this week shows that $45/bbl oil isn’t enough to rescue energy companies on the verge of collapse. Since the start of 2015, 130 North American oil and gas producers and service companies have filed for bankruptcy owing almost $44 billion, according to law firm Haynes & Boone. The tally doesn’t include Chaparral Energy Inc., Penn Virginia Corp. and Linn Energy LLC, which filed..."
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Press release: Rex Energy Reports First Quarter Operational and Financial Results - "Operating revenues from continuing operations for the three months ended March 31, 2016 were $30.5 million, which represents a decrease of 44% as compared to the same period in 2015. Commodity revenues, including settlements from derivatives, were $43.5 million, a decrease of 33% as compared to the same period in 2015. Commodity revenues from oil and..."
Press release: EV Energy Partners Announces First Quarter 2016 Results - "Adjusted EBITDAX for the first quarter of 2016 was $20.2 million, a 62 percent decrease from the first and fourth quarters of 2015. EVEP reported Distributable Cash Flow of $(1.2) million for the first quarter of 2016. The decreases in Adjusted EBITDAX and Distributable Cash Flow were primarily attributable to lower realized commodity..."
Duke University: Radium Isotopes in Soil Reveal Age of Oil and Gas Wastewater Spills - "Spills from oil and gas operations can contaminate local water and soil with high levels of toxic chemicals, salts and radioactivity, but in many cases there is insufficient information to determine how long ago the spill occurred and identify..."
Plastics News: Shell Continues Preliminary Work on Possible Pittsburgh Petrochemicals Complex - "Shell Chemical LP continues with preliminary work that could lead to a massive petrochemicals complex in the Pittsburgh area — but the firm still has not fully committed to the project. A Shell spokeswoman recently confirmed that the company has built..."
Press release: Community Rights Ramp Up in Ohio - "Today residents in Meigs County and the City of Waterville launched their petition campaigns to place rights-based initiatives before voters this November. Meigs County residents are collecting signatures to create a Community Rights County Charter. Waterville residents are collecting signatures for a Bill of Rights..."
Akron Beacon Journal: Ohio Landowners Urge BLM to Proceed with Wayne NF Drilling - "Over the past few months, Landowners for Energy Access and Safe Exploration (LEASE) relayed the views of landowners throughout southeastern Ohio asking the BLM for the opportunity to develop their minerals. In addition, a wave of federal, state, and local bipartisan leaders, community organizations, businesses and labor unions joined..."
Seeking Alpha: UMH Properties' (UMH) CEO Samuel Landy on Q1 2016 Results - Earnings Call Transcript - "UMH has continued to execute our long term strategic business plan of acquiring and integrating communities in strong geographic areas below replacement cost, upgrading them, getting a rental home program, sales staff and marketing thereby building long term value for our..."
Energy Information Administration: Developing Economies in Asia Lead Projected Growth in World Energy Use - "Rising incomes in China, India, and other emerging Asia economies are a key driver of the global energy outlook. "Developing Asia accounts for more than half of the projected increase in global energy use through 2040." said EIA Administrator Adam Sieminski. "This increase will have a profound effect on..."
Natural Gas Now: Bill McKibben and Trial Lawyer Friends Flirt with Violence - "Bill McKibben loves white sheet cowards who flirt with violence, while extolling non-violent “direct action” and “rebellion,” a fact we noted in an earlier post. Rockefeller front groups such as 350.org and the Sustainable Markets Foundation, where trial lawyer and Fractivist Rasputin Jay Halfon fund..."
Wall Street Journal: EPA Ready to Issue Methane Limits for New Oil and Gas Wells - "The Environmental Protection Agency is set to issue on Thursday the first federal standards aimed at curbing methane emissions from the oil and natural gas industry, according to multiple people familiar with the..."
Rigzone: OPEC Pumps More Oil After Freeze Talks Fail, Says Oversupply Persists - "OPEC said the global oil market remains oversupplied and pointed to a larger supply surplus on the market this year, as its own surging output makes up for losses in outside producers hurt by the collapse in prices. Supply from the Organization of the Petroleum Exporting Countries is climbing after sanctions on Iran..."
Akron Beacon Journal: NARO Chapter Supporting Drilling in Ohio's Wayne NF - "The Appalachia chapter of the National Association of Royalty Owners (NARO), which represents royalty owners in Ohio, West Virginia, Kentucky, and North Carolina, are calling on landowners in Appalachia to engage in the public comment period underway in support of leasing in the Wayne National Forest with..."
Akron Beacon Journal: Belmont County Cracker Plant Not Delayed is on Track - "Plans for a $5.7 billion cracker plant on the Ohio River in Belmont County have not been delayed and are still on track, said Columbus-based spokesman Dan Williamson. Nothing has been delayed and nothing has been stopped, despite a recent newspaper report from Bankok about the project..."
Reuters: Ex-Magnum Hunter CEO Evans Starts New Texas Oil Fields Venture - "Gary Evans, a wildcatter who left his job as chief executive of Magnum Hunter Resources MHRCQ.PK just as it emerged from bankruptcy on Monday, is wasting no time getting back into the oil business despite the worst price rout in years. He has already formed a new venture called Energy Hunter Resources Inc and is close to buying two tracts of land..."
Gas & Oil: Doylestown Urges NEXUS to Rethink Route - "Council turned its focus to the NEXUS Gas Transmission pipeline in April, discussing where the pipeline is projected to go and efforts to get the developer to rethink its placement. Councilwoman Kay Kerr said the village is advocating the projected NEXUS pipeline pathway to be altered to..."
Akron Beacon Journal: 203 Deals in Five Years in Utica-Marcellus Worth $48.8 Billion - "There have been 203 mergers and acquisitions in the Utica and Marcellus shales from 2010 through 2014, according to a recent report from Timothy Knobloch of Marietta-based James Knobloch Petroleum Consultants Inc. and Martin Shumway of Shumway Resources in..."
Reuters: Trump Taps Climate Change Skeptic, Fracking Advocate as Key Energy Advisor - "Republican presidential contender Donald Trump has asked one of America's most ardent drilling advocates and climate change skeptics to help him draft his energy policy. U.S. Republican Congressman Kevin Cramer of North Dakota - a major oil drilling state - is writing a white paper on energy policy for the New York billionaire, Cramer and sources familiar with the matter told..."
World Oil: Oil at $45 Proving No Savior as Bankruptcies Pile Up - "Three bankruptcies this week shows that $45/bbl oil isn’t enough to rescue energy companies on the verge of collapse. Since the start of 2015, 130 North American oil and gas producers and service companies have filed for bankruptcy owing almost $44 billion, according to law firm Haynes & Boone. The tally doesn’t include Chaparral Energy Inc., Penn Virginia Corp. and Linn Energy LLC, which filed..."
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