Gulfport Energy Misses Debt Payment, in “Restructuring” Talks

Gulfport stock last 6 months (click for larger version)

According to paperwork filed by Gulfport Energy last Friday with the Securities and Exchange Commission (SEC), the company skipped making a scheduled interest payment on its 6% senior unsecured notes due 2024. Which means the clock starts ticking (for 30 days) in which the company either must make that payment, or get an agreement in place with creditors (or file for Chapter 11 bankruptcy).
Continue reading

Range Resources Goes Virtual with Rig Tours

Range Resources is the company that started it all in the Marcellus by drilling the very first Marcellus Shale gas well back in 2004. Range also was the first to drill in the Upper Devonian and Utica layers. Over the years Range, like many other M-U drillers, has invited folks to go on tours of their drilling sites. If you’ve never been on a rig tour, take one! At least, when they begin again. Due to the coronavirus, Range, like other drillers, stopped in-person rig tours. However, Range now conducts virtual (live) rig tours instead.
Continue reading

More Shipping Channel Troubles for Gulf Coast LNG Exports

Semi-submersible rig Jasminia (credit: MarineTraffic.com)

Last week MDN told you about a barge sinking in a shipping channel in Lousiana that had contributed to a big drop in the price of natural gas (see Sunken Barge in LA Helps Fuel $0.22 One-Day Drop in NatGas Price). That barge is still stuck on the bottom, blocking traffic to the Cameron LNG facility. In addition to trouble for Cameron in the Calcasieu Ship Channel, a semi-submersible rig ran aground in the Sabine Bank Channel, blocking LNG traffic to and from Cheniere Energy’s Sabine Pass LNG terminal.
Continue reading

Biden Plan Kills Fracking Without an Actual Frack Ban – Same Result

The transition from energy freedom to energy Fascism (the forced abandonment of fossil fuels) is happening far faster than anyone thought possible. Never in our lifetime did we believe Americans would willingly choose Communism and Fascism over American freedom, yet that’s what is happening and will be accelerated under a Joe Biden administration (perish the thought).
Continue reading

MDN Calendar: List of In-Person and Virtual O&G Events

MDN is updating our Calendar page more frequently to bring you the latest news on events of interest that have either been canceled, postponed, or in some cases, have gone virtual. We encourage you to review the list. A number of free and low-cost webinars and online events have popped up as an alternative to in-person meetings.
Continue reading