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• US drillers cut oil and gas rigs for fourth time in five weeks
  U.S. energy firms this week cut the number of oil and...

  U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. Oklahoma lost 1 rig, down to 43 rigs now running.

  
  

  The total oil and gas rig count, an early indicator of future output, fell by four to 600 in the week to May 24, the lowest since January 2022.  Baker Hughes said that puts the total rig count down 111, or 16%, below this time last year.

  
  

  Oil rigs were unchanged at 497 this week, while gas rigs fell by four to 99, their lowest since October 2021.

  
  

  That cut the rig count in several states and one basin to their lowest levels in years.

  
  

  In Texas, the state with almost half of the country's operating rigs, the count fell by three to 287, the lowest since February 2022, while in West Virginia, drillers cut two rigs, leaving just six active units, the lowest since August 2020.

  
  

  In the Marcellus in Pennsylvania, West Virginia and Ohio, the nation's biggest shale gas-producing basin, the rig count fell by three to 26, the lowest since October 2021.

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• Regulatory uncertainty threatens clean H2 growth
  Access to low-cost feedstock,...
  Access to low-cost feedstock, sprawling infrastructure and existing expertise make the US Gulf Coast a prime location for clean hydrogen development, though regulatory and political uncertainties could slow progress. Developers of the government-funded Gulf Coast HyVelocity Hub are concerned that delays in finalizing clean hydrogen definitions and restrictive 45V tax credit guidelines could hinder the project's momentum and hurt the broader clean hydrogen industry.
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• Williams CEO on natural gas' past, present and future
  In this interview, Williams Companies CEO Alan Armstrong recounts natural...
  In this interview, Williams Companies CEO Alan Armstrong recounts natural gas' evolution from a residential fuel to a key component in industrial applications and power generation, calling it "indispensable" to the current and future energy mix and a "great complement" to renewables and nuclear power. He also highlights the transformative impact of technologies like methane emissions detection and blockchain on the midstream business and underscores the need for greater investment in storage systems and infrastructure.
  
  Full Story HERE
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• ☕️What Else is Brewing Saturday Morning
  Your alma mater’s campus celebrities might soon swap Gatorade showers...
  Your alma mater’s campus celebrities might soon swap Gatorade showers for Veuve Clicquot baths. This week, in a landmark first, the NCAA and the five richest athletic conferences in the country agreed to a nearly $2.8 billion settlement that capitulates to student athletes’ long-standing demands for a cut of the money they rake in for universities.
  
  This is a huge shakeup. For 118 years, the NCAA adhered to its founding principle that college athletes are amateurs, not professionals, and therefore shouldn’t be paid for playing.
  
  Families of the Uvalde school shooting victims have filed a lawsuit against the manufacturer of the AR-15 rifle used in the shooting, Meta, and the makers of Call of Duty, claiming they worked together to market the weapon to minors.
  
  Two American missionaries were killed by gang violence in Haiti.
  
  Boeing now plans to launch its first Starliner rocket on June 1, despite a helium leak in the propulsion system.
  
  Sean Kingston and his mother were arrested in California on fraud charges after a SWAT team raided his Florida property.
  
  Sean “Diddy” Combs is facing another lawsuit accusing him of sexual assault.
  
  Lucy Letby, the British neonatal nurse convicted of murdering seven babies, had her request to appeal denied.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for July delivery ...
  Benchmark U.S. crude oil for July delivery rose 85 cents to $77.72 per barrel Friday. Brent crude for July delivery rose 76 cents to $82.12 per barrel.
  
  Wholesale gasoline for June delivery rose 1 cent to $2.48 a gallon. June heating oil was unchanged at $2.41 a gallon. June natural gas fell 14 cents to $2.52 per 1,000 cubic feet.
  
  
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