Houston-based Excelerate Energy LP has asked the U.S. Federal Energy Regulatory Commission (FERC) to put a hold on its Lavaca LNG project in Port Lavaca, Texas, according to TradeWinds. Excelerate asked the FERC to put its application in abeyance until April 1, 2015.
According to Reuters, its Dec. 23 submission to the FERC said that uncertainty caused by the sharp drop in oil prices has led to company to make a “strategic reconsideration of the economic value of the project.” Excelerate will update the FERC on the project’s status in April, Reuters reported.
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Marathon Oil Declares 1Q Dividend
2024-04-26 - Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.