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In This List

Kinder Morgan misses Q3 estimates; Moody's expects PRB mine closures in 2020

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Kinder Morgan misses Q3 estimates; Moody's expects PRB mine closures in 2020

Top News

Kinder Morgan LNG project delay weighs on earnings; Permian pipes pushed back

Kinder Morgan Inc. CEO Steven Kean said a delay in the start of its Elba Island LNG project was "a drag" on the company's third-quarter performance and contributed to a cut in the company's 2019 earnings forecast.

What slowdown? EIA projects shale production to surpass 9 million bbl/d

Oil and gas producers may be cutting back on their growth targets, but the U.S. Energy Information Administration is projecting shale oil production will come close to eclipsing 9 million barrels per day in November.

Moody's expecting Powder River Basin mine closures in early 2020s

Coal mined from the Powder River Basin, the most productive coal-producing area in the U.S., is expected to decline significantly in 2020 and could pressure companies to close "at least a few [Powder River Basin] mines" in the early 2020s, Moody's Investors Service wrote in an Oct. 16 note.

White House moves FERC nominee Danly's paperwork, teeing up confirmation hearing

The White House formally sent the U.S. Senate formal paperwork Oct. 15 for the nomination of James Danly to become the newest member of the Federal Energy Regulatory Commission.

Quoted

"Some folks are saying gas conflicts with the world's climate ambitions," BP Energy Co. Inc. President and CEO Orlando Alvarez said. "I think it is a misconception. I think it's misleading. I think [gas] has a role in the future of lower-carbon energy."

Power

* Regulations that are unclear on how to classify electricity storage or how to smoothly connect power supply from multiple sources within a single plant are slowing the development of so-called hybrid projects in Canada, a panel of industry experts said.

* The Alliance of Western Energy Consumers, which counts Boeing Co. and Microsoft Corp. among its members, is objecting to Portland General Electric Co.'s plan to acquire new renewable resources by 2023, the Portland Business Journal reported.

* Connecticut has unveiled its draft plan for accelerating the deployment of electric vehicles to mitigate greenhouse gas emissions and transition the state away from fossil fuels.

* The U.S. Supreme Court denied South Carolina's appeal of a lower court ruling allowing the federal government to abandon construction of a nuclear fuel facility in the state, according to The Associated Press.

* Google LLC has committed to invest approximately $150 million into renewable energy projects in key manufacturing regions.

* The Ohio Supreme Court overturned a 2017 decision by the state Public Utilities Commission to cap the amount that FirstEnergy Corp. could recover from its energy efficiency programs, according the Environmental Defense Fund.

Natural gas

* FERC ordered Mountain Valley Pipeline LLC to halt construction activities along the 303-mile route of its 2-Bcf/d natural gas pipeline project after a court required federal agencies to again review project impacts under the Endangered Species Act.

* Three Texas cities plan to sue the U.S. Fish and Wildlife Service and U.S. Army Corps of Engineer to block Kinder Morgan's proposed Permian Highway natural gas pipeline, the Houston Chronicle reported.

* Legal interpretations that take a broad view of FERC's powers to consider downstream greenhouse gas emissions of natural gas pipeline projects could drive future denials of pipeline certifications, an attorney representing pipelines said Oct. 15.

* National Grid USA plans to deliver compressed natural gas to customers in New York by truck to ease a winter supply crunch, Bloomberg News reported.

* Black Swan Energy Ltd. has opened its 100-MMcf/d Nig Creek gas processing facility in British Columbia. The facility will deliver natural gas to pipelines flowing to diverse North American markets.

Oil

* A corroded pipe caused the June 21 explosion at PES Holdings LLC's 335,000-barrel-per-day Philadelphia refinery that destroyed the plant's alkylation unit and ultimately led to the facility's shutdown, the U.S. Chemical Safety and Hazard Investigation Board found, and a release of hydrofluoric acid immediately preceding the disaster has the board examining the industry's use of the catalyst.

* Centrica PLC hired Goldman Sachs Group Inc. as advisor on the potential sale of its controlling stake in Spirit Energy Ltd., Bloomberg News reported, citing people familiar with the matter. The sale of the exploration and production unit could be valued at over $2 billion.

* A federal judge blocked the U.S. Bureau of Land Management's plan to ease protections for the greater sage grouse in oil lands, The New York Times reported.

* TC Energy Corp. declared a force majeure on Keystone oil pipeline deliveries after a snow storm disrupted operations, Reuters reported.

* Delek Group Ltd. unit Ithaca Energy Ltd. is seeking funds from commodity trading houses for its planned $2 billion acquisition of certain North Sea oil and gas assets from Chevron Corp., Bloomberg News reported, citing people familiar with the matter.

* A judge rejected pretrial motions that could have delayed proceedings of New York's climate case against Exxon Mobil Corp., Bloomberg Environment reported.

* European refiners are benefiting from U.S. sanctions on Chinese shipping fleet Cosco, The Globe and Mail reported, citing traders and analysts.

* Rangeland Midstream Canada Ltd. has started construction of its Marten Hills pipeline system, which consists of new crude oil and condensate pipelines in Alberta.

Coal

* Murray Energy Corp. and its lenders amended their forbearance agreements and extended the period through Oct. 28.

* Coal's share of Southwestern Public Service Co.'s generation mix was 27.2% in August, the largest slice of the pie the fuel has achieved in 2019, while natural gas and oil contributed 33.6% of the stack, according to a regulatory filing published Tuesday.

ChartWatch

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Energy Transfer LP's proposed $5 billion acquisition of midstream crude oil operator SemGroup Corp. was the biggest M&A deal announced in September across the oil and gas industry, according to S&P Global Market Intelligence data, and it joins the list of the biggest deals of 2019.

New from RRA

* A proposed order issued by a Maryland public utility law judge in a rate case for Washington Gas Light Co. became a final order of the Maryland Public Service Commission on Oct. 15, as the deadline for intervening parties to file appeals of the judge's recommendation passed.

The day ahead

* The U.S. Energy Information Administration natural gas storage and petroleum status reports are due out today.

* Early morning futures indicators pointed to a higher opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

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Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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