Ascent Resources moves toward more oil production to fight natural gas price volatility
The volatility in natural gas prices forced Oklahoma City’s...
The volatility in natural gas prices forced Oklahoma City’s Ascent Resources to include more oil production, but the company still reported a net loss of $98 million along with adjusted net income of $96 million.
It also had a 5% increase in net production of 2,190 mmcf a day compared to a year ago. Liquids production show up 60% over a year ago with an average of 50 mbbls a day from its operations in the Utica shale of southern Ohio.
During the second quarter of 2024, Ascent spud 19 operated wells, hydraulically fractured 18 wells, and turned-in-line 17 wells with an average lateral length of 13,761 feet. As of June 30, 2024, Ascent had 888 gross operated producing Utica wells.
FTX was ordered to pay $12.7 billion to customers. All...
FTX was ordered to pay $12.7 billion to customers. All customers will recoup their deposits that were locked when the crypto exchange went under in 2022, the Commodity Futures Trading Commission said on Thursday. FTX was able to guarantee the payments thanks to its bankruptcy liquidation, which it also used to reach settlements with regulators and former business partners of founder Sam Bankman-Fried, who is now serving 25 years for fraud. Some FTX customers reportedly feel stiffed since their payouts are based on 2022 crypto prices.
Google and Meta teamed up to target teens with ads for Instagram on YouTube, going against Google’s own rules, the Financial Times reported.
The CDC updated federal health guidelines to require doctors to warn patients about the potential for pain during the placement of an intrauterine device (IUD), following women detailing their experiences on social media.
UK regulators are formally investigating Amazon’s $4 billion investment in AI startup Anthropic as governments increasingly scrutinize Big Tech’s involvement in the sector.
China told its Olympics fans to behave themselves, alleging that their toxic online behavior is affecting athlete performance.
Olympics update: US men’s basketball survived a battle with Serbia behind epic performances from Steph Curry and LeBron James to advance to the final vs. France tomorrow. On the track, after winning the men’s 100m race, US sprinter Noah Lyles earned bronze in the 200m despite testing positive for Covid.
The Bureau of Land Management netted roughly $24 million from an oil...
The Bureau of Land Management netted roughly $24 million from an oil and gas sale on public lands in North Dakota and Montana held this week, despite protests from climate organizations.
The oil lease auction was the most lucrative the Biden administration has held in the region this year, but it still fell short of what some drillers wanted to see on the table. It was opposed by several prominent environmental groups who have called on President Joe Biden to end oil sales on public lands because of fossil fuels’ contribution to climate change.
The auction included over 5,000 acres, with most parcels clustered in the prolific Bakken oil region. A handful of parcels were also auctioned in northern and southern Montana.
Benchmark U.S. crude oil for September delivery rose...
Benchmark U.S. crude oil for September delivery rose 96 cents to $76.19 per barrel Thursday. Brent crude for October delivery rose 83 cents to $79.16 per barrel.
Wholesale gasoline for September delivery rose 4 cents to $2.40 a gallon. September heating oil was unchanged at $2.36 a gallon. September natural gas rose 2 cents to $2.13 per 1,000 cubic feet.
S&P 500 has biggest percentage gain since late 2022 as stocks finish higher
All three major stock indexes closed higher for the second...
All three major stock indexes closed higher for the second time in six sessions on Thursday, fueled by weekly jobless claims that gave investors hope the U.S. labor market can continue to hold up.
Thursday's data was "soothing concerns over a U.S. economic recession,'' according to senior markets economist James Reilly at Capital Economics.
The Dow Jones Industrial Average finished up by 683.04 points, or 1.8%, at 39,446.49, based on preliminary data.
The S&P 500 closed up by 119.81 points, or 2.3%, at 5,319.31. On a percentage basis, it was the index's best day since Nov. 30, 2022.
The Nasdaq Composite closed up by 464.22 points, or 2.9%, at 16,660.02
