Read More
Energy News

Pennsylvania’s natural gas production growth continues to lead U.S.

Pennsylvania’s natural gas production growth led the United States in 2018 — and helped set a national record.

The Energy Information Administration said dry natural gas production rose 12 percent to 83.8 trillion cubic feet in the United States in 2018, the largest percentage increase since 1951 and the highest increase in volume as far as records go back.

While Texas remained the top gas producing state with 6.8 trillion cubic feet, Pennsylvania was not far behind with 6.1 trillion cubic feet,…

Read more

Read More
Energy News

Noble Energy drops down midstream assets to MLP, simplifies businesses in $1.6B deal

Houston-based Noble Energy Inc. (NYSE: NBL) and its Noble Midstream Partners LP (NYSE: NBLX) master limited partnership announced a $1.6 billion cash-and-stock deal that will simplify the companies’ midstream operations.

The deal, which closed Nov. 14, is the conclusion of Noble Energy’s strategic review of its midstream business, according to Nov. 15 press releases. It includes the MLP acquiring all of Noble Energy’s remaining midstream interests and the elimination of the latter’s incentive…

Read more

Read More
Energy News

Industry Roundtable: Energy

How will new climate legislation affect your business? What are the challenges and opporrtunities that came with the new climate goals? How much more potential does solar have to grow? Law firm Hodgson Russ and the Albany Business Review hosted a discussion to answer these questions and more. Cindy Applebaum, market president and publisher of the Albany Business Review, moderated the discussion.

What are some of the ways the state’s new Climate Leadership and Community Protection Act will shape…

Read more

Read More
Energy News

Maui resort expects to save $1M in energy costs over 10 years

Royal Lahaina Resort expects to save more than $1 million in energy costs over the next 10 years under a contract with Carbon Lighthouse, which analyzed the Maui resort’s energy usage to come up with ways to increase energy efficiency and save money.

Carbon Lighthouse used a proprietary software system to find and utilize the hidden wasted energy spread across the resort. The San Francisco-based company has a 10-year contract with the resort and guarantees the real dollar value of the energy savings.

“The…

Read more

Read More
Energy News

Weatherford swaps CFOs amid bankruptcy

Houston-based Weatherford International PLC (OTC Pink: WFTIQ) has made changes to its leadership with a new top financier — one who has ties to the company’s CEO.

CFO Christoph Bausch stepped down from his spot on the executive team effective Nov. 14, though he will stay at the company until the end of the month to help with the transition. His place is being filled temporarily by Stuart Fraser, the company’s chief accounting officer, as interim CFO, according to a press release.

Bausch took…

Read more

Read More
Energy News

Houston LNG exporter lands more than $1B in debt funding

Houston-based Cheniere Energy Inc. (NYSE American: LNG) has reached a purchase agreement in which it will raise another $1.5 billion in debt funding.

The company was originally planning to sell $1 billion in notes, but it upsized the offering earlier this month to $1.5 billion, according to a filing with the U.S. Securities and Exchange Commission. BofA Securities Inc. is the representative of the purchasers behind the deal. The notes under this agreement will come due in 2029, according to the…

Read more