N.M. cave system made off-limits to drilling, mining
The Bureau of Land Management has moved to protect the 28,513-acre Guadalupe...
The Bureau of Land Management has moved to protect the 28,513-acre Guadalupe Cave Resource Protection Area in New Mexico from oil and natural gas drilling and other mineral extraction for the next 20 years. The decision, finalized last week, aims to preserve the area's recreational value and sensitive cave ecosystems.
Aethon to Aquire Tellurian Haynesville Shale Assets for $260MM
Aethon Energy will acquire Tellurian Inc.'s...
Aethon Energy will acquire Tellurian Inc.'s Haynesville Shale assets for $260 million, allowing Aethon to continue growing as the basin's top private producer and for financially struggling Tellurian to prioritize its flagship Driftwood LNG project, the companies announced on May 29.
The deal expands Aethon's growing Haynesville footprint with integrated upstream assets in the Louisiana Haynesville and Bossier ShaleBasins with 31,000 net acres, including gathering and treating systems with the capacity of about 100 MMcf/d, bringing Aethon’s pro forma gathering and treating capacity to more than 3 Bcf/d.
T-Mobile bought most of UScellular for $4.4 billion. The...
T-Mobile bought most of UScellular for $4.4 billion. The third-largest mobile carrier in the US now owns what was the fifth-largest, giving T-Mobile 4 million new customers and access to UScellular’s wireless operations. T-Mobile aims to improve coverage in rural areas, where many of UScellular’s customers live. The deal, which follows T-Mobile’s acquisition of Sprint in 2020, could kick off another round of consolidation in the telecommunications industry, analysts say, as the number of major players dwindles. T-Mobile’s latest purchase is expected to close next year.
Ryan Salame, the FTX exec who turned on founder Sam Bankman-Fried, was sentenced to 7.5 years in prison.
Hess shareholders voted to approve the company’s $53 billion merger with Chevron, though it’s still unclear if the deal will survive a challenge from Exxon.
Adam Neumann gave up on his plan to buy back WeWork.
Porsche announced it’s making the first-ever hybrid version of its iconic 911 sports car.
Golden Goose, the shoe brand known for selling sneakers that look dirty on purpose, is reportedly eyeing an IPO in Milan this week at a $3.3 billion valuation.
Pope Francis apologized after Italian media reported he used a homophobic slur during a private meeting.
The recent death of President Raisi notwithstanding, the Iranian government...
The recent death of President Raisi notwithstanding, the Iranian government has approved a plan to increase oil production to 4 million b/d from the current target of 3.6 million b/d, however without providing a time frame for the capacity uptick.
US crude prices soared by nearly 3% in Tuesday’s trading
Oil prices have been trading rangebound for the fourth consecutive week,...
Oil prices have been trading rangebound for the fourth consecutive week, staying within the $81-83 per barrel range for Brent, as priced-in expectations of OPEC+ maintaining production curbs have failed to lift sentiment any higher. While improving consumption figures from the US and an increasingly bullish picture for hurricanes in the US Gulf Coast provide some medium-term hope for oil bulls, the macro outlook is still weak and the prospect of Fed interest rate cuts in June is getting slimmer.
Prices did jump today, as Benchmark U.S. crude oil for July delivery rose $2.11to $79.83 per barrel Tuesday. Brent crude for July delivery rose $1.12to $84.22 per barrel.
Wholesale gasoline for June delivery rose 3 centsto $2.51 a gallon. June heating oilrose 6 cents to $2.47 a gallon. June natural gasrose 7 cents to $2.59 per 1,000 cubic feet.
