S&P Global Market Intelligence presents the most read stories for the week ended Aug. 9.
1. PG&E provides glimpse of restructuring plan, keeping all energy contracts
Embattled California utility Pacific Gas and Electric Co. has provided a glimpse into its forthcoming reorganization plan, which the company intends to file in the coming weeks as part of its Chapter 11 bankruptcy proceeding with parent PG&E Corp.
2. Utilities see risks, rewards in cryptocurrency power demand
With huge power demands and a highly competitive industry, miners of cryptocurrencies such as Bitcoin are constantly searching for cheap electricity.
3. Texas Railroad Commission rejects 1st-ever challenge to gas flaring permit
Reasoning that the value of the crude oil coming from a producing well outweighs the lower value of the associated gas that must be removed, the Texas Railroad Commission approved on Aug. 6 a small producer's application to continue flaring gas from a set of Eagle Ford Shale wells, despite objections from the midstream company that gathers gas in the same field.
4. Contura, others selected as winners in Blackjewel coal bankruptcy auction
Pending court approval, Contura Energy Inc. secured the winning bid for three mines sold in the bankruptcy auction of Blackjewel LLC; several other producers bid on the remaining assets of the U.S. coal company.
5. Growth in electric-fracking fleets stunted by tight producer budgets
Oilfield services companies are considering whether spending to convert legacy hydraulic-fracturing fleets to run on electricity makes good financial sense as producers slowly embrace the technology.