On top of that, a reading of inflation came in at its highest level in about 40-years, underscoring the surge in prices in everything from dry commodities to crude oilCL.1, -2.79%.
The Dow Jones Industrial AverageDJIA, -0.34% closed down 0.3%, S&P 500 index SPX, -0.43% closed down 0.4% and the Nasdaq Composite IndexCOMP, -0.95% ended the session off by about 1%.
WildFire Energy Acquires East Texas Eagle Ford Operator MD America Energy
WildFire Energy recently closed on the acquisition of MD America Energy (MDAE),...
WildFire Energy recently closed on the acquisition of MD America Energy (MDAE), adding to the Houston-based independent E&P’s growing position in the Eagle Ford Shale.
MDAE is a Fort Worth, Texas-based E&P company with approximately 45,000 net acres, 200 operated wells and 3,200 boe/d (85% liquids) of production in the East Texas Eagle Ford. The company completed a financial restructuring and emerged from voluntary Chapter 11 protection in December 2020.
The deal follows WildFire’s successful acquisition of private Eagle Ford operator Hawkwood Energy LLC for $650 million in August 2021 marking WildFire’s entry into the South Texas shale play. The financial terms of the MDAE transaction were not disclosed.
Chesapeake Energy Completes Acquisition of Chief, Tug Hill Affiliates
Chesapeake Energy Corp. on March 9 completed its previously announced multibillion-dollar...
Chesapeake Energy Corp. on March 9 completed its previously announced multibillion-dollar acquisition of Chief E&D Holdings, LP, and associated non-operated interests held by affiliates of Tug Hill Inc.
“The Chief transaction deepens our premium inventory, allowing us to allocate additional capital toward our world-class Marcellus Shale position and accelerate returns for our shareholders,” Nick Dell’Osso, Chesapeake’s president and CEO, commented in a company release.
“With the integration of these assets into our existing portfolio,” Dell’Osso continued, “we look forward to generating greater free cash flow, growing our dividend programs, and improving our GHG emissions metrics as we continue to responsibly deliver reliable, affordable, lower-carbon energy in 2022 and beyond.”
MarketWatch: U.S. initial jobless claims edged upward in early March
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early...
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early March, but businesses are trying to avoid layoffs as they confront an extremely tight labor market and try to fill a record number of open positions.
Economists polled by The Wall Street Journal had forecast initial jobless claims to total a seasonally adjusted 216,000 in the seven days ended March 5.
