Energy Business Roundup: Cheniere’s Good Prospect, Chevron Loses With SCOTUS
Shares of Cheniere Energy (AMEX:LNG) spiked Turesday, possibly on the news that the United Kingdom’s Noble Clean Fuels reached an agreement to import spare liquefied natural gas. The former typically benefits from such news since it is the only firm with a full export terminal permit.
Penn Virginia Corporation (NYSE:PVA) shares crater following the firm’s announcement of concurrent public offerings of 12 million shares of common stock and $50 million of depositary shares representing convertible preferred equity. The company will use net proceeds to repay debt and also for general corporate purposes.
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Chevron Corporation’s (NYSE:CVX) request that an $18.2 billion judgment against it in a long-running pollution case in Ecuador be blocked, was denied by the United States Supreme Court. A lower court had dismissed an injunction blocking enforcement of the judgment, so Chevron appealed to the SCOTUS, which turned the appeal down without explanation.
Through the terms of a resolution with Tauren Exploration, Exco Operating and BG U.S. Production, Cubic Energy (AMEX:QBC) will receive $12.2 million, and indicated that it will use $9.1 million of the proceeds to repay debt, according to a Securities and Exchange Commission filing.
Don’t Miss: U.S. Court Denies Chevron This Massive Appeal.