Penn Virginia and Denbury have mutually agreed to the termination of their proposed merger. Denbury CEO Chris Kendall cited the difficult market conditions since announcing the merger and opposition of Penn Virginia shareholders led to the decision to cancel the merger.
Penn Virginia CEO John A. Brooks cited plans to continue with a planned two rig development program and a new guidance will be issued ahead of first quarter earnings.
Kinder Morgan cited that the start-up of the Elba LNG Terminal would be pushed back to April 2019 amid construction delays. The entire ten train facility was expected fully online in 2019, but that may be pushed back as well with the new timeline. Each subsequent train is expected online one month after the prior train, leading to the final train coming online in January 2020.