Activist investor issues Evergy an ultimatum
An activist investor known for targeting companies like AT&T Inc. sent a letter to Kansas City-based Evergy Inc. on Tuesday outlining its displeasure with the utility’s stock performance and issued an ultimatum: Restructure, or merge with a partner.
Elliott Management Corp. urged Evergy (NYSE: EVRG) to take steps to boost its stock price, including the addition of new board members and management and the exploration of a stock-for-stock merger. Evergy did not respond to a request for comment.
“A…
Ford earns distinction for environmental efforts
Ford Motor Co. (NYSE:F) has earned an A-list distinction with CDP, a global environmental impact nonprofit, for its green initiatives.
The initiatives include a more than $11.5 billion investment in electric vehicles, including all-electric versions of its Mustang Mach-E and F-150 to be released later this year and into 2021, respectively. The company was additionally recognized for its actions to develop the low carbon economy and its aspiration to power all its manufacturing facilities with…
Extraction pushes ahead with Broomfield fracking as noise complaints pile up
The company sticks to its 2018 operator’s plan amid dozens of complaints and an emergency ordinance.
California city’s attempt to ban fuel cell technology is struck down
The Santa Clara city ordinance passed last summer that effectively banned Bloom Energy’s natural gas-powered fuel cells as an electricity source was struck down Friday by the Santa Clara County Superior Court.
Bloom’s stock, which had been hammered repeatedly since its IPO in July 2018 for failure to achieve profitability promised by CEO KR Sridhar, closed at $9.71 on the New York Stock Exchange, up 4.6 percent from the previous day’s close.
“Officials in the City of Santa Clara made the…
Oops — Bay Area city’s attempt to ban fuel cell technology is struck down
The Santa Clara city ordinance passed last summer that effectively banned Bloom Energy’s natural gas-powered fuel cells as an electricity source was struck down Friday by the Santa Clara County Superior Court.
Bloom’s stock, which had been hammered repeatedly since its IPO in July 2018 for failure to achieve profitability promised by CEO KR Sridhar, closed at $9.71 on the New York Stock Exchange, up 4.6 percent from the previous day’s close.
“Officials in the City of Santa Clara made the…
Crestone Peak Resources deploys Denver startup to find leaks at its oil well sites
It’s an unprecedented bid for transparency about emissions.
McDermott will file Chapter 11, finds bidder for Lummus Technology
Houston-based McDermott International Inc. (NYSE: MDR) plans to file for Chapter 11 bankruptcy protection on Jan. 21, now that it has a restructuring plan in place.
The company also announced Jan. 21 that it has found a stalking-horse bidder for its Lummus Technology business, which it will sell as part of the Chapter 11 process.
More than two-thirds of all McDermott’s funded debt creditors have agreed to support the restructuring transaction, which will eliminate more than $4.6 billion of debt.…
Rig counts steady so far this month, but down sharply from last year
Pennsylvania’s number of natural gas drilling rigs held steady as it has for the new year, but it’s down sharply from production a year ago.
There were 25 drilling rigs operating in Pennsylvania for a second week, according to a tally released weekly by oilfield services company Baker Hughes (NYSE: BKHS). But it shows a big decline from this time a year ago, when there were 48 rigs. The year-to-year drop in the count is due to lower prices for natural gas, which has led to a cut in drilling and…
Houston energy engineering firm sees substantial employee growth
One of Houston’s largest energy engineering firms had a busy 2019.
Houston-based S&B Engineers and Constructors Ltd. hired nearly 4,000 employees in the Houston area over the past 12 months. That is a 96 percent increase from 3,978 employees in January of 2019 to 7,813 employees reported in December.
According to S & B Engineering, the greatest growth was the “direct hire construction craft workforce.” This was due to a few large projects for the firm.
On June 25, 2019, S&B announced that…
Oops — Santa Clara’s attempt to ban fuel cell technology is struck down
The Santa Clara city ordinance passed last summer that effectively banned Bloom Energy’s natural gas-powered fuel cells as an electricity source was struck down Friday by the Santa Clara County Superior Court.
Bloom’s stock, which had been hammered repeatedly since its IPO in July 2018 for failure to achieve profitability promised by CEO KR Sridhar, closed at $9.71 on the New York Stock Exchange, up 4.6 percent from the previous day’s close.
“Officials in the City of Santa Clara made the…
