US Total Weekly EIA Crude Oil Stocks Fall by 12.4 Million Barrels After Prior 17.8 Million Decrease

US Natural Gas Stocks Rose by 92 Bln Cubic Feet in Week Ended May 22 Vs. Expected 95 Bln Increase; Prior Gain of 101 Bln

Cheniere Energy Partners Unit Signs EPC Contract With Bechtel for Sabine Pass Expansion

Cheniere Energy Partners (CQP) said Thursday its Sabine Pass Liquefaction Stage V subsidiary signed an engineering, procurement and construction contract with Bechtel Energy for the first phase of the Sabine Pass expansion project.The company said the first phase includes construction of Train 7, a boil-off gas re-liquefaction unit and related infrastructure at the Sabine Pass liquefied natural gas terminal.The phase is expected to produce more than 6 million tonnes per annum of LNG, including debottlenecking capacity, Cheniere said.Cheniere said it expects to make a final investment decision on phase 1 by early 2027.

Peabody Energy Proposes $225 Million Convertible Notes Offering

Peabody Energy (BTU) said Thursday that it plans to offer $225 million of convertible senior notes due 2031 in a private offering to qualified institutional buyers.The company said it will offer initial purchasers an option to buy up to an additional $25 million of the notes.Peabody said the terms, including the interest rate and initial conversion rate, will be determined when the offering is priced.The company said it intends to use net proceeds from the offering to fund capped call transactions and buy back a portion of its outstanding 3.250% convertible senior notes due 2028.Shares of the company were up more than 4% in premarket activity Thursday.