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Last week in numbers
Friday oil prices: West Texas Intermediate (WTI) $61.55 Brent (ICE) $67.70
Natural gas weekly averages: Henry Hub $5.39, Wyoming Pool $4.04, Opal $4.29
Baker Hughes rig count: U.S. 924, Wyoming 26
Quote of the week
“Superfund sites are superfund for a reason. They are generally complex. Once contaminants get into the groundwater, it takes a while to remediate that.” --
Andrew Schmidt, remedial project manager for the EPA in Denver, speaking of the superfund sites in Evansville
Evansville superfund site deleted
A superfund site designated in the 1980s in Evansville lost that distinction, when the Environmental Protection Agency decided completed remediation and testing qualified it for removal.
In other news
- The rig count fell this week, a decline that some say may point to renewed discipline by some companies, a Houston Chronicle reporter tweeted last week.
- The bitter cold on the East Coast and across the Midwest, including a bomb cyclone drove up natural gas prices --just look at the weekly averages --sending Henry Hub to $6.88, a daily it hasn't hit since 2014.
- Lighthouse Resources, which operates the Black Butte mine in Rock Springs, is suing Washington State over western coal exports from the state's coast.
- Gillette-based Cloud Peak Energy is to sponsor the Wyoming Congressional Awards Ceremony in April, the council announced last week.
- Ramaco Carbon, the coal firm hoping to dig in Sheridan County despite pushback from some local landowners, has launched a website. The firm is engaged in a lawsuit over an Environmental Quality Council decision last year that the firm's mining plan was deficient. Ramaco hopes to build a carbon research center along with the mining operations.
- Meanwhile, Contura Energy, which recently stepped out of the Powder River Basin by transferring the Eagle Butte and Belle Ayr mines to an Appalachia-based firm, was downgraded by Moody's for the transfer. Letting go of the PRB mines opens Contura up to volatility in the metallurgical coal market. The downgrade also reflects Moody's, "expectation of continued secular decline of the U.S. thermal coal industry," the firm wrote.
- Coal reporter Taylor Kuykendall points out that 2018 may hold more of the same for coal as natural gas plants go up and coal-fired generation retires.