NextDecade, Continental Resources, Chesapeake Energy: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

LNG
NextDecade Says Coronavirus Could Delay Timing of Texas LNG Project - U.S. liquefied natural gas (LNG) developer NextDecade Corporation (NASDAQ:NEXT) said energy demand destruction from the coronavirus could delay the timing of its decision to build its proposed Rio Grande LNG export plant in Texas. In the past, the company, which made its announcement in a filing with U.S. securities regulators late Friday, had said it planned to make a final investment decision to build the $15.7 billion project in 2020, allowing it to start producing LNG in 2023. (Projects 300186992, 300198653, 300198661, 300199084) (Reuters)

PRODUCTION
More U.S. Shale Drillers Slash Production - U.S. shale producers Continental Resources (NYSE:CLR) and Callon Petroleum (NYSE:CPE) on Monday joined their peers in cutting production to cope with a rout in oil prices as the coronavirus crisis sapped demand for fuel. Continental has cut 70% of its May oil output, more than double of what it had planned earlier. Callon said it had shut in about 1,500 gross barrels per day (BBL/d) through April and expects it to reach more than 3,000 gross BBL/d during May. June volumes are currently under evaluation. (Reuters)

FINANCIAL
Chesapeake Energy Considers Bankruptcy - Chesapeake Energy Corporation (NYSE:CHK) said on Monday it was unable to access financing and was considering a bankruptcy court restructuring of its more than $9 billion debt if oil prices don't recover from the sharp fall caused by the COVID-19 pandemic. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at https://www.industrialinfo.com.