ExxonMobil Announces Plan to Divest “Certain” N.A. Dry Gas Assets
Yesterday ExxonMobil released the outlines of its development plan for the next five years. We previously alerted you that Exxon was looking to write down (impair) up to $30 billion of its assets, including (potentially) its assets in the Marcellus/Utica (see ExxonMobil Deciding Fate of XTO Asset Value in 4Q). Indeed it has happened, albeit not quite as bad as expected. Exxon says the impairments, which include assets in the M-U, will be on the order of $17-$20 billion. Exxon is also considering a sale of those impaired assets.
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If there’s a bad cold snap in New England this winter forcing residents to use more natural gas (leaving less natgas for power plants), blackouts may occur. That’s the prediction from the North American Electric Reliability Corporation (NERC) in their just published 2020-2021 Winter Reliability Assessment (full copy below). If blackouts do occur, the residents of New England can thank Gov. Cuomo and their own politicians, like Massachusetts Attorney General Maura Healey, for blocking natural gas pipeline projects to the region.
Diversified Gas & Oil (DGO) is a fascinating company (
In December 2015, evil corporate raider Carl Icahn (invests in companies so he can fire a bunch of people, boost the stock and pocket the profit) fired Cheniere Energy CEO Charif Souki (see 
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