Credit

Pennsylvania Governor Vetoes Natural Gas Tax Credit Bill Aimed at Luring PetChem Projects

Pennsylvania Governor Vetoes Natural Gas Tax Credit Bill Aimed at Luring PetChem Projects

Pennsylvania Gov. Tom Wolf has vetoed a bill that would have provided a tax credit for using state-produced natural gas to make petrochemicals or fertilizer.

March 31, 2020
Pennsylvania Governor Vetoes Natural Gas Tax Credit Bill Aimed at Luring PetChem Projects

Pennsylvania Governor Vetoes Natural Gas Tax Credit Bill Aimed at Luring PetChem Projects

Pennsylvania Gov. Tom Wolf has vetoed a bill that would have provided a tax credit for using state-produced natural gas to make petrochemicals or fertilizer.

March 31, 2020
North American E&P Credit Quality Improving, Still Lagging Boom Years

North American E&P Credit Quality Improving, Still Lagging Boom Years

Fundamentals are more robust today, but most North American exploration and production (E&P) companies’ credit metrics are still much weaker than the boom years of 2013-2014, Moody’s Investors Service said Monday.

June 11, 2018

Trump, GOP Celebrate Passage of $1.5 Trillion Tax Reform Bill

President Trump stood on the South Lawn of the White House with dozens of Republican lawmakers Wednesday, touting his biggest legislative accomplishment to date: passage of a $1.5 trillion comprehensive tax reform bill, which the GOP successfully muscled through Congress earlier in the day, despite an 11th hour hiccup.

December 20, 2017

Henry Hub, WTI/Brent Prices Remain Range-Bound, Moody’s Says

Moody’s Investors Service on Tuesday maintained its medium-term price band of $40-60/bbl for Brent and West Texas Intermediate (WTI) crude, the main oil-price benchmarks, and it reiterated a $2.00-3.50/MMBtu price for North American natural gas at Henry Hub, the industry’s chief measure of gas prices.

February 28, 2017

Clayton Williams Stock Tumbles on News of Stock Warrants

Looking to hold onto its acreage and maintain liquidity as it waits out a depressed commodity market, Clayton Williams Energy Inc. announced this week that it has reached a credit agreement with lender Ares Management LP.

March 11, 2016

S&P: Oil and Gas Raises Speculative-Grade Distress Ratio to 2009 Levels

With the oil and gas sector now accounting for 37% of total distressed debt, the U.S. distress ratio reached 20.1% in November, its highest level since September 2009, Standard & Poor’s Ratings Service (S&P) said in a report released Monday.

November 30, 2015

Obama Proposed Budget Targets Oil, Gas Industry

President Obama’s nearly $4 trillion budget for fiscal 2016 would eliminate tax credits for the oil and gas industry and force master limited partnerships (MLP) formed by fossil fuel entities to be taxed at a higher rate, while making major investments to combat climate change on several fronts.

February 3, 2015
S&P: Sky is NOT Falling; U.S. 2015 E&P Liquidity ‘Adequate’ on Hedging, Capex Cuts

S&P: Sky is NOT Falling; U.S. 2015 E&P Liquidity ‘Adequate’ on Hedging, Capex Cuts

Prescient planning by some U.S. explorers should enable many of them to keep their heads above water this year, but if oil prices don’t rebound by 2016, liquidity issues will surface, according to Standard & Poor’s Ratings Services (S&P).

January 22, 2015
NGVs Gain Further Traction From Congress’ Tax Credit Extension

NGVs Gain Further Traction From Congress’ Tax Credit Extension

Heeding industry pleas from a subcommittee hearing earlier this month (see Daily GPI, Dec. 5), Congress on Tuesday extended tax credits for natural gas vehicles (NGV) that expired at the end of last year, reversing the defeat earlier in the year of a bipartisan bill from the U.S. Senate that was rejected by the House.

December 23, 2014
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