The Baker Hughes United States rig count is up six from last week at 417 with oil rigs up six to 324, gas rigs unchanged at 92, and miscellaneous rigs unchanged at one.

Ferrellgas interim Chief Executive Officer (CEO) Jim Ferrell released the following letter this week concerning the company's plans for recapitalization and some of the actions taken by the executive team over the past few months. The United States-based propane supplier filed for Chapter 11 bankruptcy in January 2021. 

Energy North Group (ENG) has announced the recent purchase of 22 gas station, convenience store and car wash locations, one heating oil and HVAC company and a food-service partnership to strengthen its presence in Massachusetts, New Hampshire and Maine. Over the past decade, the company has grown rapidly because of its acquisitions and is plans to complete more of this type in the future.

Runnion Equipment Company has announced a new addition to its sales team — Jake Regnier.

Customers in Central and Southern Indiana as well as Central Illinois interested in equipment solutions will be able to take advantage of Regnier’s knowledge and experience in providing truck-mounted equipment to contractors and municipalities. 

 

The Baker Hughes Rig Count increased by six from last week's 417 in the United States, with oil rigs up six to 324, gas rigs unchanged at 92, and miscellaneous rigs unchanged at one.

Kiros Energy Marketing is pleased to announce a long-term throughput deal at the liquefied propane gas (LPG) storage and loading facility at the Global Companies Erie Boulevard Terminal, Albany, New York.

As part of this deal, starting April 2021, Kiros will have exclusive rights to all wholesale propane marketing through the facility and access to almost one million gallons of tank storage. Kiros Energy Marketing is a full-service natural gas liquid (NGL) and crude oil marketing company servicing producers, refiners, gasoline blenders and retailers throughout North America.

WASHINGTON, DC – This week, the Senate voted, on a bipartisan basis, to confirm Marty J. Walsh as the 29th Secretary of Labor. Walsh issued the following statement following his confirmation: 

“I am incredibly honored and privileged to serve as the United States’ next Secretary of Labor. I am grateful for the bipartisan support of members of the Senate, and I want to thank President Biden and Vice President Harris for their confidence in my ability to lead the Department of Labor during such a critical time in our nation’s history.

The United States Energy Association issued a letter from its acting executive director, Sheila Hollis, examining the global state of the industry over the past year and amid the ongoing pandemic. Hollis makes reference to an overall stabilization of the global energy situation, while the United States oil and natural gas prices slowly rebound following the plummet the industry experienced in 2020. 

Read excerpts from the letter, originally published on the USEA website here, below.

LANSING, Mich. — The state’s retail propane marketers have approved a referendum to establish the funding mechanism for the Michigan Propane Commission, created in statute last year. The initial assessment will be at the rate of 1/10 of 1 cent per gallon upon odorized propane sold and placed into commerce in the state. The results of the referendum were certified today by Michigan Department of Agriculture and Rural Development Director Gary McDowell.  

Flame King has announced a recall on its Hog 100-pound propane cylinders due to a risk of fire when using the product. The manufacturer, working in partnership with the United States Consumer Product Safety Commission (CPSC), released the following details with the recall notice (this information is pulled directly from Flame King's website and the CPSC website): 

The Baker Hughes United States rig count is up 9 from last week at 411, with oil rigs up 9 to 318, gas rigs unchanged at 92, and miscellaneous rigs unchanged at 1.

During the latest mid-month period, posted prices at Mont Belvieu steadily rolled down from the surge seen in February. The posted prices dropped 21.167 cents/gal., while the spot prices slipped 11.500 cents. Group 140, Conway, Kan., postings ended with a 92.900-cent plunge and spots fell 48.500 cents over the month.

Toledo, Ohio (March 15, 2021) — Service demands are met with an ever-evolving and innovative technology department at Bergquist Inc., a provider of wholesale propane equipment distribution. The Bergquist Telemetry Unit (BTU) uses analytics to improve marketer operation efficiency and profitability. With a growing demand for these services, Bergquist is expanding their telemetry unit by appointing Jim Schwartzfisher to the new role of telemetry unit manager.