Coronavirus Potential Revenue Gains For Davis Refinery
William Prentice, Meridian Energy Group Inc., explains how much revenue the refinery would have generated since the beginning of the year and how they would have responded to the coronavirus.
“Looking back over the past six months, had the Davis Refinery been in operation, since this past New Year’s Eve, we would have made a lot of money,” Prentice said. “The coronavirus impact on the industry doesn’t bother me.”
Spiess Appears as a Guest on Investment Talk, Discusses Pipelines and BKs
The Crude Life host Jason Spiess joined Investment Talk with Paul Meyers and Steve Poitras from Legacy Wealth Management to discuss several news items and issues in the oil and gas industry.
The Dakota Access Pipeline, Keystone XL Pipeline and Atlantic Pipeline and their recent news was discussed and how it will impact the market. Warren Buffet has already made a move involving the Atlantic Pipeline and natural gas. Energy Transfer Partners said it will honor the courts decision, but is still actively engaging in regular business.
Spiess discusses the safety and environmental aspects of the court’s decision in that more trucks and rail cars will be used for transporting crude oil now. In addition the rail cars will be prioritized and agriculture may become pushed back creating some friction, like in 2015.
The job loss is discussed as well citing welders, pipe fitters, cafe owners and laborers that will be impacted.
Spiess transitioned into the Chesapeake Bankruptcy (Whiting and Extraction too), how many are still waiting to see how the restructuring of debt plays out. Service companies and midstream companies are curious if their receivables will be forgiven, while the small businesses are left out.
Spiess continued stating Crestwood, Williams Co and Energy Transfer Partners all have contracts with Chesapeake, so there’s potential those stocks and companies could be impacted as well.
Click here to listen to full interview
Digital Strategies Will Fuel Oil and Gas Recovery
The economic demand destruction triggered by the Covid-19 pandemic should propel the Middle East energy industry to accelerate its adoption of the 4th Industrial Revolution digital toolbox and embed greater operational efficiencies, a group of industry technology experts agreed in a new study by the energy think tank Gulf Intelligence.
The global energy sector, and the Middle East in particular, have been slow adopters of digital transformation strategies, which offer a new chapter in human development, enabled by extraordinary technology advances that commensurate with those of the first, second and third industrial revolutions. The speed, breadth and depth of this revolution is forcing all industries to rethink how organizations create value.
Impact Fees Generated $200 Million for Pennsylvanians in 2019: Don’t Mess With It!
Washington County received the highest amount, at $6.6 million, followed by Susquehanna County at nearly $5.8 million then Bradford County which will received $4.8 million. Washington County also ranked highest in regard to the number of wells within the county, reaching 1837 total wells this year.
Center Township in Greene County was the top receiving municipality with $1.1 million, and the municipality with the most wells (260).
Why is the 2019 impact fee total lower than the previous year?
The PUC explained that this is partially a result of the significantly lower gas prices across the state, as well as the fact that gas companies drilled less wells in 2019 in comparison to 2018.
Cabot made a payment of about $16.9 million in impact fees, which was less than our record high contributions from 2018.
Impact fee money provides financial support for public services and development – environmental projects within each county or municipality.
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