Liquidity stress continues to rise in the oil and gas sector, according to Moody’s Investors Service.
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The three major natural gas providers in Kansas told state regulators that a special funding mechanism is needed to accelerate the replacement of thousands of miles of distribution pipelines in the state’s aging, 21,000-mile distribution network.
The U.S. Environmental Protection Agency (EPA) said 41 companies involved in the energy sector, including several natural gas pipeline operators, have joined a voluntary program to detect methane leaks from a variety of sources in the field, and will implement a list of best management practices within five years.
Upstream operators may be scrutinizing their dwindling finances, but they haven’t stopped investing in digital technologies to improve well completions and capital efficiencies, according to a new global survey.
Low oil/natural gas prices are driving technology advances by operators in the Bakken Shale play, and lower breakeven prices are expected to develop this year as a result, according to North Dakota’s chief oil/gas regulator.
Moody’s Investors Service Thursday placed the ratings of 69 U.S. exploration and production (E&P) and oilfield services companies on review for downgrade because oil prices have deteriorated substantially in the past few weeks “and have reached nominal price lows not seen in more than a decade.”
Oversupplied oil and natural gas markets, now coupled with sharply declining oil prices, are setting up a dismal year for capital spending by exploration companies, with domestic operators possibly cutting their spend plans by as much as half from 2015, analysts said this week.
The Federal Reserve’s decision to raise interest rates will increase borrowing costs and lead to greater credit risk for lower-rated companies, Moody’s Investors Service said in a report.
Companies with some extensive marine and liquefied natural gas (LNG) expertise have joined in an effort to provide LNG as a maritime fuel globally, the three companies announced Thursday. They said the goal is to make LNG the “marine fuel of choice.”