Shares/units of Kinder Morgan Inc. (KMI) and Kinder Morgan Energy Partners LP (KMP) were dinged Wednesday by a 26-year-old financial analyst in a report that blasted the company for allegedly short-changing maintenance spending in order to support shares/units. Management said such criticisms were raised and put to bed 10 years ago and that it is “one of the most transparent companies in America.”
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Strategic investors and foreign buyers continue to press for deals in U.S. unconventional fields, but higher prices have pushed private equity (PE) momentarily to the sidelines, according to PwC US.
A ballot initiative to raise the Arkansas severance tax on natural gas production being promoted by former gas industry executive Sheffield Nelson recently drew a few more foes, according to the energy industry-backed anti-tax group Arkansans for Jobs & Affordable Energy (AJAE). The Association of Arkansas Counties (AAC), the Poultry Federation and the Northwest Arkansas Council recently signed on in opposition to the tax hike on producers. “…[O]ur association believes a natural gas severance tax increase would be harmful for Arkansas counties and for Arkansans,” said Chris Villines, executive director of the AAC.
A study of the electricity needs in the oil/natural gas patch was funded Monday by the North Dakota Industrial Commission for upcoming work to be overseen by the state’s power transmission authority. Separately, the commission also authorized paying for another study of future natural gas growth in the state.
The Ohio Environmental Protection Agency (OEPA) issued separate permits to Patriot Water Treatment LLC and the City of Warren on Monday, barring the latter from accepting pre-treated wastewater from oil and natural gas drilling starting April 1.
The federal government isn’t planning a “full court press” on the natural gas industry, but it will if best management practices and state regulations aren’t effective, a former U.S. senator told an audience in Pittsburgh Tuesday.
The debate over taxing shale gas production in Pennsylvania is increasingly focusing on where the money would go, as two Philadelphia-area Republican lawmakers proposed severance taxes last week designed to ease the tax burden on individuals.