This is plain stupid. Most drillers were making up for NG losses via oil. Now what ?
Reason for falling is energy sector being clubbed together and debt issue
Oil drop should kill shale bubble and should benefit most coal producers.
BTU should save like 200M if oil falls around $2.
Not to mention, Shale producers were compensating for NG losses via Oil. But both are at losses.
NG producers were able to compensate for losses on gas via profit on oil. Now most shale drillers nearing losses. Oil prices will fall even farther to $75
Expect more shell oil driller to file bankruptcy and NG heading to $8
Haha XCO. HK SD (was 60 at some point) and list goes on
LOL. Rectall forgot to read the line "challenges in building the necessary infrastructure to bring the project on stream."
hello rectal, every business comes with debt. would you mind sharing the debt amount.
this mine was sold because recoverable coal asset came out to be 10% of what was originally thought. RIO was happy to get that amount, partly due to few expensive equipments.
Coal stockpiles of US utilities held steady at an estimated 112 million st in the week ended Thursday, increasing just 303,000 st from the prior week, said Bentek Energy on Friday.
The weekly stockpile amount was revised upward from an estimated 107 million st for the week ended September 25.
Bentek, which is a unit of Platts, said the market share for coal generation totaled 39% in the seven independent system operator electricity markets, unchanged from the prior week.
For the week ended Thursday, Bentek estimates coal production declined roughly 5%, while consumption declined slightly. Coal stockpiles are still roughly 25% lower than at the same time last year, however.