Dominion to sell 25% interest in its LNG export plant to Brookfield for $2B
In a more than $2 billion deal, Dominion Energy Inc. agreed to sell a 25% noncontrolling equity interest in its Cove Point LNG facility to Brookfield Asset Management Inc. affiliate Brookfield Super-Core Infrastructure Partners LP. The agreement represents an implied enterprise value of $8.22 billion, excluding working capital.
Halliburton plans $300M in cost cuts after struggling in North America in Q3
Even after meeting earnings expectations for the third quarter, Halliburton Co. continued to face challenges from its North America land operations, necessitating equipment stacking and other cost-cutting measures, according to the company's executives. CEO Jeffrey Miller said the oilfield services major has plans to capture $300 million in annualized cost savings over the next few quarters.
US coal producers head into Q3'19 earnings season under dark clouds
Only one top-five coal company by market capitalization — Alliance Resource Partners LP — is expected to report higher EPS in the third quarter on a quarterly basis, an S&P Global Market Intelligence analysis of estimates showed. All five of the largest U.S. coal companies by market capitalization are expected to report lower EPS on an annual basis.
Strong renewables growth not enough to meet climate goals, IEA warns
About 1,200 GW of renewable energy will be added globally in the next five years, the International Energy Agency projected recently, but the group warned that the growth in renewables will not be enough to meet targets set in global climate agreements.
Other energy headlines
* The future of Canada's energy industry could hinge on a too-close-to-call federal election in which the nation's leading political parties are in a statistical dead heat, raising the possibility that any one of three less-popular parties could hold the balance of power in Parliament.
* Many of the top integrated oil and gas majors, including Exxon Mobil Corp., could see a lackluster third-quarter earnings season in light of weak energy commodity prices over the three-month period, prompting analysts to lower earnings outlooks for some of the largest companies.
* As states and utilities move aggressively to decarbonize their power generation systems, appropriate rate structures are critical to facilitating and accelerating that transition, and ill-designed electricity rates could hold back that shift, policymakers and utility executives said.
* The Federal Energy Regulatory Commission should consider using a different metric than reserve margins when assessing wintertime reliability in the fuel-constrained Northeast U.S., Commissioner Richard Glick said.
Pennsylvania's natural gas production in August was 11.5% greater year over year, but it was basically flat compared to July, data reported to the state's Department of Environmental Protection showed Oct. 18.
Research and data
Data Dispatch: Dominion must significantly cut emissions to meet Va. energy goal
Regulatory Focus: Conn. regulators outline vision for electric grid transformation
Top pick of the day
DTE investors unenthusiastic about Haynesville midstream acquisition
This extra edition of the Daily Dose has an editorial deadline of 1:30 p.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.