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Stock Market & Financial Investment News

News Breaks
May 29, 2014
13:48 EDTRRC, MWERange Resources says Q2 impact from MarkWest Energy incident to be minimal
Last night MarkWest (MWE) reported an incident at its Houston, Pennsylvania complex which damaged a portion of its gas processing facilities. As a result, some Range (RRC) wells are shut in while the plant is down to assess the damage. Range and MarkWest are working closely and are in the process of diverting production to MarkWest's facilities at Majorsville, West Virginia while repairs are made to the Houston facilities. Based on preliminary reports from MarkWest, the impact to Range's production is expected to be minimal in the second quarter. Range's second quarter production guidance remains at 1,065-1,075 Mmcfe per day.
News For RRC;MWE From The Last 14 Days
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September 30, 2014
10:02 EDTRRCOn The Fly: Analyst Initiation Summary
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05:25 EDTRRCRange Resources initiated with an Outperform at Imperial Capital
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September 22, 2014
19:36 EDTMWEMarkWest Energy joint venture announces definitive agreements with AEU
MarkWest Utica EMG, a joint venture between MarkWest Energy Partners and The Energy & Minerals Group, and Ohio Gathering Company, a joint venture between MarkWest Utica EMG and Summit Midstream Partners, announced the completion of definitive agreements with American Energy- Utica, or AEU, an affiliate of American Energy Partners, to provide natural gas gathering, processing, and fractionation services in the Utica Shale in Ohio. AEU has acquired a significant acreage position in highly prolific Utica Shale and with the agreements announced, has dedicated more than 60K net acres in the rich-gas and condensate windows to MarkWest Utica EMG and Ohio Gathering. Under the terms of the agreements, MarkWest Utica EMG will provide natural gas processing services at its Cadiz complex in Harrison County, Ohio and its Seneca complex in Noble County, Ohio. Combined, these two large complexes currently provide 725M cubic feet per day of total processing capacity to eight key producer customers in the Utica Shale. Based on previous announcements, the two complexes will be expanded to more than 1.3B cubic feet per day of processing capacity by 2Q15. MarkWest Utica EMG will fractionate AEU’s natural gas liquids, or NGLs, at its jointly owned Hopedale complex, which currently includes 60K barrels per day, or Bbl/d, of propane and heavier NGLs fractionation capacity and will be expanded to 120K Bbl/d of capacity by 1Q15.
September 18, 2014
19:26 EDTRRCPennsylvania regulators charge Range Resources record $4.15M fine, Upstream says
Pennsylvania regulators have charged Range Resources with a record $4.15M fine for environmental violations at a western Pennsylvania site, Upstream reports. The $4.15M fine represents the largest fine the state of Pennsylvania has ever levied against a shale driller. Range Resources will also close five artificial ponds that were leaking flowback water, will upgrade liners and leak detection systems at two other ponds, and will test surrounding soil and groundwater for contamination, Upstream added. Reference Link

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