Hickory Bend Plant Dedicated, Execs Talk Expansion
Tuesday, October 29, 2013NEW MIDDLETOWN, Ohio – The land Springfield Township Trustee Robert Orr stood on midday Monday was, not long ago, “kind of a swampy farmland property, a mixture of woods and farming,” he recalled. Some farmers commented that the land “wasn’t very good farmland anyway” so it might as well be put to industrial use.
'3 Minutes With' Chad Zamarin, NiSource Midstream
Tuesday, October 29, 2013NEW MIDDLETOWN, Ohio – In today's "3 Minutes With" video, Chad Zamarin, chief operating officer for NiSource Midstream Services and Pennant Midstream, discusses the new Hickory Bend gas processing plant, its potential for expansion and the factors that will determine that expansion. The plant, which is slated to come online by the end of the year, was dedicated Monday (READ STORY).
Texas Company Gets Tax Credit to Open Brookfield Plant
Tuesday, October 29, 2013COLUMBUS, Ohio -- The Ohio Tax Credit Authority Monday authorized a 55%, seven-year job creation tax credit for a project proposed by J-W Measuring Co. in Brookfield Township.
F.N.B. Seeks to Raise $50 Million in Capital
Tuesday, October 29, 2013HERMITAGE, Pa. -- F.N.B. Corp., parent of First National Bank of Pennsylvania, announced Monday it intends to raise $50 million in common equity and up to $100 million in perpetual preferred stock, “subject to market conditions.”
It is doing so as a “comprehensive capital action plan to proactively position F.N.B. for Basel III implementation,” the company said, which includes “the redemption of certain trust preferred securities, and to support future growth opportunities.” Basel III capital standards are higher than U.S. banking requirements.
Consol Ready to Expand in Utica/Marcellus Plays
Monday, October 28, 2013YOUNGSTOWN, Ohio -- Consol Energy Inc.'s divestment of five coal mines and the recapitalization of its oil and gas division represents how an old company is adapting to rapid changes in the energy industry, its CEO said Monday.
"Consol, being 150 years old, has learned to change with the marketplace," said Brett Harvey, Consol chairman and CEO, during a conference call with analysts. "I think it's prudent to harvest mature assets and reinvest in growth opportunities, especially in projects such as the Marcellus shale and Utica shale."
Chorus of ‘Thank Yous’ for Pennant Midstream Plant
Monday, October 28, 2013NEW MIDDLETOWN, Ohio -- It was indeed a “chorus of thank yous” this morning, just as the CEO of NiSource Midstream Services, Robert C. Skaggs Jr., predicted as he opened the dedication ceremonies for the Pennant Midstream Hickory Bend gas processing plant here.
From NiSource’s partner in Pennant Midstream LLC – Hilcorp Energy affiliate Harvest Pipeline – to the pipeline companies and building trades unions who built the gathering lines and processing plant, and the public officials who helped cut the bureaucratic red tape, Skaggs was effusive in his praise.
Consol Sells Coal Mines, to Boost Gas Production
Monday, October 28, 2013PITTSBURGH -- Consol Energy Inc. announced this morning the sale of its Consolidation Coal Co. subsidiary, which contains all five of its long-wall coal mines in West Virginia, to Murray Energy Corp. for $3.5 billion value.
At the same time, the company said it is taking what it calls a “transformative step” to boost natural gas production by 30%, realign its dividend and de-lever its balance sheet to facilaitate emphasis on gas growth.
The company made the announcement at 8 a.m.
Here is the full text of Consol’s news release:
Press Events Today at 2 Gas Processing Plants
Monday, October 28, 2013NEW MIDDLETOWN, Ohio – Gov. John Kasich today joins executives from NiSource Midstream Services and Pennant Midstream, as well as state and local officials, for the dedication of the companies’ Hickory Bend gas processing plant here. The governor will then travel south to Harrison County where he will celebrate the opening of UEO Buckeye's Harrison Hub natural gas processing and fractionation complex near Scio.
Bluegrass Pipeline to Begin 'Binding Open Season'
Monday, October 28, 2013TULSA, Okla. -- Bluegrass Pipeline LLC, a joint venture between Williams and Boardwalk Pipeline Partners, tomorrow begins a “binding open season to determine industry commitments to natural gas liquids transportation capacity from the Marcellus and Utica shale plays to the petrochemical and export complex on the U.S. Gulf Coast.“
Penn National Sets 'Topping Out' Event at Racino Site
Monday, October 28, 2013AUSTINTOWN, Ohio – Penn National Gaming Inc. will mark the completion of the structural steel phase of its racino under construction with a traditional “topping out” ceremony Tuesday at 11:30 a.m.
The final steel beam will be signed by construction workers, contractors, Penn National Gaming officials and guests at the event, which will take place at the Route 46 construction site. It will then be hoisted in place by crane and adorned with the traditional American flag and Christmas tree.