SCE cites proximity of utility equipment to Saddle Ridge fire
Southern California Edison Co. filed a confidential report Oct. 11 with the California Public Utilities Commission, notifying regulators of an electric incident that occurred the previous day around the reported time of the Saddle Ridge brush fire in northwest Los Angeles.
Parsley Energy's justification for Jagged Peak merger ignored by investors
Parsley Energy Inc.'s executives believe that the company's $2.27 billion all-stock acquisition of Jagged Peak Energy Inc. will make the combined company a "preeminent" Permian Basin producer, but cost-conscious investors have hammered its stock since the deal was announced the morning of Oct. 14.
Analysts: Oil market sentiment may be nearing the bottom of the trough
Negative sentiment has weighed on oil equities even as oil prices have moved higher over the course of the year, but barring a recession, slowing productivity gains among U.S. producers and lower capital spending may improve sentiment in 2020, analysts say.
Court approves Blackjewel's plan to transfer eastern permits for western sale
A federal court approved Blackjewel LLC's plan to transfer the permits and reclamation obligations related to its remaining eastern assets to an affiliate of FM Coal LLC, freeing the debtor to sell its Powder River Basin mines.
"The pressure on oil and gas companies is increasingly growing, and growing at a pace I would not have anticipated one year ago, [but] we can have a clear view of the challenges and of the solutions. If we don't want to become dinosaurs, we'll have to adapt," Total SA CEO Patrick Pouyanne said at the Oil & Money conference in London on the swiftly spreading efforts to sideline natural gas, which have taken many oil and gas producers by surprise.
* The U.S. Environmental Protection Agency should consider strengthening its current standard for deadly fine particulate matter pollution, an independent panel of scientific experts recommended Oct. 11.
* California Gov. Gavin Newsom asked Pacific Gas and Electric Co. to offer $100 rebates to residential customers affected by the company's "inadequate preparation and failed execution of this power shut-off event," the Los Angeles Times reported.
* Dominion Energy Inc. received key approvals for its planned 12-MW Coastal Virginia offshore wind project. The company expects to move forward with construction of the project in the summer of 2020.
* FirstEnergy Solutions Corp. has filed a new reorganization plan that details its separation from FirstEnergy Corp. and its emergence from bankruptcy as a privately held company.
* Idaho Power Co. and the state Public Utilities Commission staff have reached a settlement that will change the compensation structure for customers who produce some of their energy using on-site generation such as solar panels.
* Utility commissioners from several states sent nearly identical letters asking the Federal Energy Regulatory Commission to expedite the power grid reliability study, Billings (Mont.) Gazette reported. The letters reportedly used language that appeared to originate from coal lobbying group American Coalition for Clean Coal Electricity.
* Puna Geothermal Venture on Oct. 16 will start drilling a new geothermal production well in Hawaii as part of resuming operations, the Hawaii Tribune-Herald reported. The company expects drilling to be completed by Jan. 16, 2020.
* The Wyoming Department of Environment Quality's Industrial Siting Council has ordered BluEarth Renewables Inc. to pay $3.1 million to local governments to offset the impact of its proposed $1 billion wind project, according to the Wyoming Business Report. State officials also set conditions that company must meet to be given permits.
* National Grid USA has started to restore natural gas service to about 1,000 downstate New York customers affected by an ongoing moratorium on gas hookups, after state regulators threatened millions of dollars in fines against the utility.
* FERC released final guidance for natural gas project developers on the use of horizontal directional drilling in pipeline projects and plans for addressing drilling fluid releases.
* Democratic North Carolina Gov. Roy Cooper and his staff rejected private interview requests from investigators hired by Republican lawmakers over a 2018 agreement with utilities for the Atlantic Coast Pipeline, The Associated Press reported. Instead, the Cooper administration could publicly testify before lawmakers in November.
* The European Investment Bank will be voting on a proposal to stop funding fossil fuel projects, including natural gas projects, from the end of 2020, the Financial Times reported.
* The rising cost of shipping crude is pushing China Petroleum & Chemical Corp., or Sinopec, to reduce operations starting November, Bloomberg News reported, citing people with knowledge of the matter.
* ProPetro Holding Corp. has laid off roughly 150 employees this month amid a slowing shale activity caused by weak oil and gas prices, Reuters reported, citing people familiar with the matter.
* As part of Rockhampton Energy LLC's Chapter 7 bankruptcy proceeding, the debtor revealed that it had about $2.9 million worth of assets and personal property as well as $3.9 million in liabilities, according to court documents filed Oct. 10.
* Duke Energy Corp. is continuing its appeal of a decision by North Carolina regulators that would require the company to excavate all of its coal ash impoundments in the state.
Sections of the U.K. seabed are set to be sold off for new offshore wind development. Not too long ago, these auctions would have been dominated by utilities and independent developers, but now the pool of bidders is widening to include some of Europe's largest oil and gas companies.
New from RRA
* American Water Works Co. Inc. confirmed Oct. 11 that it submitted a bid to purchase the water and wastewater assets of Florida municipal utility JEA.
The day ahead
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