Murray Energy

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Pandemic worsens outlook for U.S. coal

E&E News: Add U.S. coal to the list of industries threatened by the novel coronavirus. Part of its problem is conditions that precede the pandemic. U.S. coal plants are an aging bunch. Weak electricity demand has only intensified competition with gas and renewables. The weather has been a drag on American miners, too; a warm […]

April 9, 2020 Read More →

Murray Energy, U.S.’ largest private coal company, looks at possibility of liquidation

S&P Global Market Intelligence ($): Murray Energy Corp. is running low on cash and asked a federal bankruptcy court to suspend the company’s obligations to pay for retiree medical obligations, costing the company $256,000 per day. The largest private coal mining company in the U.S. said in a March 30 filing with the U.S. Bankruptcy […]

April 1, 2020 Read More →

Bankrupt miner Murray Energy gets no bids for its coal mines

S&P Global Market Intelligence ($): Murray Energy Corp. received no qualified offers competing against an initial stalking horse [pre-auction] bid for substantially all of the company’s assets, according to a court filing. The final deadline for bids on the assets was March 16, but with no qualified bidders, the company canceled a bankruptcy auction scheduled […]

March 24, 2020 Read More →
IEEFA U.S.: Why exports won’t save American coal
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IEEFA U.S.: Why exports won’t save American coal

Foreign thermal and metallurgical markets, fickle by nature, don’t account for much to begin with

Data published last week by S&P Global Market Intelligence shows U.S. coal exports fell by 28.1% in the fourth quarter of 2019 compared to the fourth quarter of 2018. That headline number was underscored by an S&P estimate that exports from the Illinois Basin (Illinois, Indiana and western Kentucky) had fallen by 58.7% year-over-year, a […]

and February 28, 2020 Read More →

S&P: U.S. coal exports fell sharply in fourth quarter of 2019 from year-earlier level

S&P Global Market Intelligence ($): While all four major U.S. coal ports took a beating in terms of fourth-quarter 2019 tonnage year over year, producers in the Illinois Basin saw an enormous drop in exports. Coal from the region is primarily shipped through the port in New Orleans. The U.S. exported an aggregate 18.8 million […]

February 19, 2020 Read More →

Coal analysts say bankruptcy filing is ‘increasingly likely’ for Illinois Basin’s Foresight Energy

S&P Global Market Intelligence ($): One of the few major U.S. coal companies to dodge the bankruptcy court may soon need to file for Chapter 11 restructuring if the current market and economic forces working against the coal industry persist, according to recent securities filings. Over the past few weeks, Foresight Energy LP exercised an […]

November 25, 2019 Read More →
IEEFA update: Data shows U.S. shift away from coal-fired generation is intensifying

IEEFA update: Data shows U.S. shift away from coal-fired generation is intensifying

Plants are retiring at a faster rate per month than last year as utilities switch to gas and build renewables

New data from the Energy Information Administration (EIA) indicates that the shift away from coal-fired power generation has accelerated this year in the United States. In August, utilities generated 18 percent less power from coal than in August of last year, marking the sixth month in 2019 with a decline of more than 10 percent. […]

November 5, 2019 Read More →

Murray Energy, after bankruptcy filing, seeks a way out of export-terminal commitment

S&P Market Intelligence/Platts: Murray Energy has asked a bankruptcy court to allow it to reject a contract with a marine terminal in Louisiana that facilitates exporting the company’s coal abroad.  Murray Energy, which filed a Chapter 11 bankruptcy petition Tuesday, said challenging river conditions along the Mississippi River increased costs and caused use of the […]

October 31, 2019 Read More →

Coal giant Murray Energy files for Chapter 11 bankruptcy

S&P Global ($): Murray Energy Holdings Co. and certain subsidiaries filed for Chapter 11 bankruptcy protection following months of financial distress. The move, which will occur under the guidance of new President and CEO Robert Moore, replacing Robert E. Murray, will allow the company to access $350 million in new debtor-in-possession financing. The bankruptcy filing […]

October 29, 2019 Read More →

Analysts see big job cuts on horizon for U.S. coal mining sector as demand continues downward

Bloomberg: The clearest sign yet that America’s Coal County is headed for widespread job cuts: The amount of coal being produced per U.S. miner is at the lowest level in eight years. Productivity has slid 11% this year alone. The last time it was this low was in 2011, when coal companies ended up cutting […]

October 18, 2019 Read More →