Mountain Valley Pipeline

Pembina Pipeline Corporation Reports Record Results for the Fourth Quarter 2023, Provides Business Update, and Declares Quarterly Common Share Dividend

Retrieved on: 
Thursday, February 22, 2024

Pembina reported record quarterly adjusted EBITDA of $1,033 million in the fourth quarter and record full year adjusted EBITDA of $3,824 million.

Key Points: 
  • Pembina reported record quarterly adjusted EBITDA of $1,033 million in the fourth quarter and record full year adjusted EBITDA of $3,824 million.
  • Results were impacted by higher incentive costs driven by Pembina's share price performance and increased shared service revenue.
  • On a per share (basic) basis, cash flow from operating activities was $1.60 per share for the fourth quarter and $4.79 per share for the full year.
  • ET) for interested investors, analysts, brokers and media representatives to discuss results for the fourth quarter of 2023.

RGC Resources, Inc. Reports First Quarter Earnings

Retrieved on: 
Monday, February 5, 2024

ROANOKE, Va., Feb. 05, 2024 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $5,019,992, or $0.50 per share, for the first quarter ended December 31, 2023, compared to $3,256,405, or $0.33 per share, for the fiscal quarter ended December 31, 2022.

Key Points: 
  • ROANOKE, Va., Feb. 05, 2024 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $5,019,992, or $0.50 per share, for the first quarter ended December 31, 2023, compared to $3,256,405, or $0.33 per share, for the fiscal quarter ended December 31, 2022.
  • The increase over the quarter a year ago included nearly $1.5 million in earnings from the Company’s investment in the Mountain Valley Pipeline, LLC (“MVP”) as well as improved utility margins.
  • Roanoke Gas continued to make investments in utility infrastructure to improve system reliability and deliver gas to new customers to drive earnings.
  • CEO Paul Nester stated, “Higher utility margins were welcomed in the quarter particularly in light of inflationary pressures that will temper performance in the coming quarters.

RGC Resources, Inc. Reports 2023 Earnings

Retrieved on: 
Monday, November 20, 2023

ROANOKE, Va., Nov. 20, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $11,299,282, or $1.14 per share, for the fiscal year ended September 30, 2023, compared to a net loss of $31,732,602, or $3.48 per share, for the fiscal year ended September 30, 2022.

Key Points: 
  • ROANOKE, Va., Nov. 20, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $11,299,282, or $1.14 per share, for the fiscal year ended September 30, 2023, compared to a net loss of $31,732,602, or $3.48 per share, for the fiscal year ended September 30, 2022.
  • Roanoke Gas continued executing its strategy of utility infrastructure investment to increase system reliability and drive customer growth and earnings.
  • The significant increase in 2023 earnings reflected non-cash MVP income resulting from the resumption of construction in June of 2023.
  • RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

Operator of MVP Enters Into Consent Agreement with PHMSA

Retrieved on: 
Tuesday, October 3, 2023

On Tuesday, October 3, 2023, the Pipeline and Hazardous Materials Safety Administration (PHMSA) issued a Consent Order incorporating the terms of a Consent Agreement entered into by PHMSA and Equitrans Midstream as the operator of the Mountain Valley Pipeline (MVP) project.

Key Points: 
  • On Tuesday, October 3, 2023, the Pipeline and Hazardous Materials Safety Administration (PHMSA) issued a Consent Order incorporating the terms of a Consent Agreement entered into by PHMSA and Equitrans Midstream as the operator of the Mountain Valley Pipeline (MVP) project.
  • The product of a successful informal consultation between PHMSA and Equitrans, the Consent Agreement resolves the Notice of Proposed Safety Order (NOPSO) that PHMSA issued to Equitrans on August 11, 2023, for the MVP project.
  • The terms of the Consent Agreement are not expected to have a material impact on the total project cost or schedule.
  • Mountain Valley will continue to work closely with PHMSA and other regulators to maintain its high standards of safety and environmental stewardship as the project enters its final construction phase.

Equitrans Midstream Corporation Announces Executive Succession

Retrieved on: 
Thursday, September 7, 2023

Equitrans Midstream Corporation (NYSE: ETRN), today, announced that Thomas F. Karam will step down from his role as chief executive officer of Equitrans Midstream (Equitrans or Company) to become the Company's executive chairman; and Diana M. Charletta, currently president and chief operating officer of Equitrans, will succeed Mr. Karam as Equitrans' newly appointed chief executive officer.

Key Points: 
  • Equitrans Midstream Corporation (NYSE: ETRN), today, announced that Thomas F. Karam will step down from his role as chief executive officer of Equitrans Midstream (Equitrans or Company) to become the Company's executive chairman; and Diana M. Charletta, currently president and chief operating officer of Equitrans, will succeed Mr. Karam as Equitrans' newly appointed chief executive officer.
  • The executive appointments are effective January 1, 2024, and both Mr. Karam and Ms. Charletta will continue to serve as members of the Equitrans Board of Directors following the leadership transition.
  • Equitrans has a long history, a comprehensive asset footprint across the Appalachian Basin, and a very bright future.
  • Going forward, we are both pleased and very proud to have Diana leading Equitrans and grateful for Tom's continuing support as executive chairman."

Equitrans Midstream Releases Statement Related to Mountain Valley Pipeline's Jefferson National Forest Authorizations

Retrieved on: 
Tuesday, July 11, 2023

Equitrans Midstream Corporation (NYSE: ETRN), today, released a statement related to the July 10, 2023, decision by the U.S. Court of Appeals for the Fourth Circuit regarding construction in the Jefferson National Forest for the Mountain Valley Pipeline project.

Key Points: 
  • Equitrans Midstream Corporation (NYSE: ETRN), today, released a statement related to the July 10, 2023, decision by the U.S. Court of Appeals for the Fourth Circuit regarding construction in the Jefferson National Forest for the Mountain Valley Pipeline project.
  • “We are disappointed with the U.S. Court of Appeals for the Fourth Circuit’s remarkable decision to grant a one-sentence stay halting all construction in the Jefferson National Forest with no explanation.
  • The Court’s decision defies the will and clear intent of a bipartisan Congress and this Administration in passing legislation to expedite completion of the Mountain Valley Pipeline project, which was deemed to be in the national interest.
  • Unless this decision is promptly reversed, it would jeopardize Mountain Valley’s ability to complete construction by year-end 2023."

Mountain Valley Pipeline To Proceed

Retrieved on: 
Saturday, June 3, 2023

On June 3, 2023, the President of the United States signed legislation that raises the Nation's debt limit and ratifies and approves all permits and authorizations necessary for the construction and initial operation of the Mountain Valley Pipeline (MVP) and directs the applicable federal officials and agencies to maintain such authorizations.

Key Points: 
  • On June 3, 2023, the President of the United States signed legislation that raises the Nation's debt limit and ratifies and approves all permits and authorizations necessary for the construction and initial operation of the Mountain Valley Pipeline (MVP) and directs the applicable federal officials and agencies to maintain such authorizations.
  • Further, and not later than June 24, 2023, the legislation requires the Secretary of the Army to issue all permits or verifications necessary to complete project construction and allow for MVP's operation and maintenance.
  • The legislation also divests courts of jurisdiction to review agency actions on approvals necessary for MVP construction and initial operation.
  • With the enactment of the Fiscal Responsibility Act of 2023, Mountain Valley will continue to work closely with all relevant agencies in reissuing the project’s few outstanding permits and will maintain its steadfast commitment to environmental protection to ensure the responsible completion of the project's remaining construction.

TEAMSTERS URGE PASSAGE OF THE FISCAL RESPONSIBILITY ACT OF 2023

Retrieved on: 
Wednesday, May 31, 2023

WASHINGTON, May 31, 2023 /PRNewswire/ -- The following is a statement from Teamsters General President Sean M. O'Brien regarding the vote in the U.S. House of Representatives on the Fiscal Responsibility Act of 2023:

Key Points: 
  • We urge Congress to swiftly pass this legislation.
  • "The Fiscal Responsibility Act preserves and creates jobs through important changes to energy construction permitting as well as approval of the Mountain Valley Pipeline, which are long-held Teamster priorities.
  • Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico.
  • Follow us on Twitter @Teamsters and "like" us on Facebook at Facebook.com/teamsters.

RGC Resources, Inc. Reports 2022 Earnings

Retrieved on: 
Wednesday, November 16, 2022

ROANOKE, Va., Nov. 16, 2022 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced a consolidated Company net loss of $31,732,602 or $3.48 per share for the fiscal year ended September 30, 2022.

Key Points: 
  • ROANOKE, Va., Nov. 16, 2022 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced a consolidated Company net loss of $31,732,602 or $3.48 per share for the fiscal year ended September 30, 2022.
  • Roanoke Gas continued executing its strategy of utility investment that increases system reliability and drives customer growth and earnings.
  • The overall underlying earnings decline was attributable to the lower non-cash MVP earnings and borrowing costs in the Midstream subsidiary.
  • RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

Equitrans Midstream Correction to Second Quarter 2022 Earnings Call Discussion

Retrieved on: 
Tuesday, August 2, 2022

Equitrans Midstream Corporation (NYSE: ETRN) is issuing a correction to information discussed during its earnings call earlier today.

Key Points: 
  • Equitrans Midstream Corporation (NYSE: ETRN) is issuing a correction to information discussed during its earnings call earlier today.
  • The Proposed Energy Permitting Provisions relate to improving the energy infrastructure permitting process and specifically mention the Mountain Valley Pipeline project.
  • Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States.
  • For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com ; and to learn more about our environmental, social, and governance practices visit ETRN Sustainability Reporting .