Major producer thinks pipeline may not go online until 2023
Executives from EQT Corp., a major customer of the Mountain Valley Pipeline, told Wall Street analysts...
Executives from EQT Corp., a major customer of the Mountain Valley Pipeline, told Wall Street analysts that they aren't expecting it to go into service until the middle of 2023. "We had to pick a spot where we thought MVP was going to come online, and we did that as a placeholder before ETRN puts out their update in about a week," said EQT CFO David Khani.
The Labor Department on Thursday said the consumer-price index—which measures what consumers pay for goods and services—was last month at its highest level since February 1982, when compared with January a year ago, and higher than December’s 7% annual rate. Inflation has been above 5% for the past eight months.
Continental Resources announced that its Board of Directors has declared a quarterly...
Continental Resources announced that its Board of Directors has declared a quarterly dividend of $0.23 per share on the Company's outstanding common stock, payable on March 4, 2022, to stockholders of record on February 22, 2022.
EQT announced financial performance results for the fourth-quarter 2021. Net income attributable to EQT for the fourth quarter of 2021 was $1,801 million, $4.69 per diluted share, compared to net income attributable to EQT Corporation for the fourth quarter of 2020 of $64 million, $0.23 per diluted share.
Range Resources announced that fourth-quarter 2021 production averaged approximately 2,198 Mmcfe per day, and fourth-quarter 2021 all-in capital spending totaled $92.3 million. In addition, Range realized $29.5 million in contingent derivative settlement gains in the fourth-quarter 2021.
Oil prices are fluctuating after EIA crude inventory report
Meanwhile, oil prices are back and forth on Thursday after rallying on an unexpected drop in U.S. crude...
Meanwhile, oil prices are back and forth on Thursday after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors awaited the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets. Robust demand recovery from the coronavirus pandemic has kept global oil supplies snug, with inventories at key fuel hubs globally hovering at multi-year lows.
U.S. crude inventories fell 4.8 million barrels in the week to February 4, dropping to 410.4 million barrels - their lowest for commercial inventories since October 2018, the EIA said. Analysts in a Reuters poll had forecast a 369,000-barrel rise. U.S. product supplied - the best proxy for demand - peaked at 21.9 million bpd over the past four weeks due to strong economic activity nationwide, EIA data showed. "We are seeing some consolidation after a fairly constructive EIA report," said Warren Patterson, ING's head of commodities research.
Energy stocks are set to open around breakeven levels, though broader equities have taken a steep leg...
Energy stocks are set to open around breakeven levels, though broader equities have taken a steep leg lower following much higher than expected inflation data just released at 8:30 AM ET. Consumer prices in January surged 7.5%, well above expectations, and were the highest since 1982. Equities turned lower, Treasury yields spiked, with the 10-year rising to 1.986%, the US Dollar gained, and expectations for larger and quicker rate hikes from the Fed emerged.
Natural gas futures are lower by a nickel, trading around $3.95, ahead of weekly inventory data calling for a 222 bcf drawdown.
