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businessinsider.com 25 minutes ago

Why Dominion Energy Sold Natural Gas Assets To Buffett, Berkshire

Warren Buffett's Berkshire Hathaway recently agreed to buy most of Dominion Energy's natural gas storage and transmission assets for about $10 billion. Dominion accepted the conglomerate's offer because it agreed to protect its workers, it has the money and expertise to maintain a high level of service, and the valuation of 10 times EBITDA was a "very fair price," the energy giant's bosses told analysts on Wednesday. The deal promises to accelerate Dominion's growth, free up cash, and speed up its shift to state-regulated utilities and clean energy, the executives said. Visit Business Insider's homepage for more stories.
Read by 66% of LPs

abqjournal.com 1 hour, 55 minutes ago

Closing Prices For Crude Oil, Gold And Other Commodities >> Albuquerque Journal

Benchmark U.S. crude oil for August delivery fell 1 cent to settle at $40.62 a barrel Tuesday. Brent crude oil for September delivery dropped 2 cents to $43.08 a barrel. Wholesale gasoline for August delivery rose 3 cents to $1.27 a gallon. August heating oil was little changed at $1.24 a gallon. August natural gas [...]
Read by 49% of LPs

rigzone.com 1 hour, 55 minutes ago

Berkshire Expands Energy Empire With $4B Deal

It's getting harder to build pipelines and other infrastructure in left-leaning states. : Dominion Energy Inc., the second-biggest U.S. power company by market value, on Sunday said it's selling substantially all of its gas pipeline and storage assets to Berkshire Hathaway Inc. for $4 billion. It's the largest deal announced this year to buy U.S. energy assets, according to Bloomberg data.
Read by 42% of LPs

forbes.com 9 hours, 25 minutes ago

Dominion Energy: Is There A Merger In The Cards?

Barely three weeks ago, the US Supreme Court ruled the proposed 600-mile Atlantic Coast Pipeline could cross the Appalachian Trail. Nonetheless, over the weekend Dominion Energy and Duke Energy announced they're walking away from the project.
Read by 45% of LPs

businesstoday.in July 05, 2020

Buffet's Berkshire Hathaway To Purchase Dominion Energy's Gas Assets For $4B

The transaction announced on Sunday includes more than 7,700 miles (12,390 km) of natural gas transmission lines and 900 billion cubic feet of gas storage.
Read by 65% of LPs

cnbc.com July 05, 2020

Warren Buffett's Berkshire Buys Dominion Energy Natural Gas Assets In $10B Deal

It's the first major purchase from Berkshire since the coronavirus pandemic and subsequent market collapse in March. : Warren Buffett's Berkshire Hathaway is finally pulling the trigger. The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion. It's the first major purchase from Berkshire since the coronavirus pandemic and subsequent market collapse in March.
Read by 73% of LPs

prnewswire.com July 05, 2020

Duke Energy Reaffirms Capital Investments In Renewables And Grid Projects To Deliver Cleaner Energy, Economic Growth

CHARLOTTE, N.C., July 5, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) today said that the company will continue advancing its ambitious clean energy goals without the Atlantic Coast Pipeline (ACP) by investing in renewables, battery storage, energy efficiency programs and grid projects....
Read by 37% of LPs

forbes.com July 03, 2020

Rising Demand And The Lowest U.s. Natural Gas Prices Since 1995

One could make the argument that the biggest energy reality that we face is low natural gas prices - forecast for many years to come.
Read by 58% of LPs

business-standard.com June 30, 2020

Shell Plans To Slash Value Of Its Oil & Gas Assets By Up To $22B | Business Standard News

The writedown announcement came after Shell cut its forecast for energy prices into 2023 on expectations that sales will only recover slowly after the pandemic.
Read by 75% of LPs

nypost.com June 30, 2020

Shell Assets May Take Up To $22B Hit Due To Coronavirus

Royal Dutch Shell expects to slash the value of its assets by as much as $22 billion as the coronavirus crisis roils energy markets. The oil and gas giant announced the massive write-down Tuesday as it cut its energy price forecasts to account for the pandemic, which has led to worldwide lockdowns that have restricted...
Read by 64% of LPs