Fed inches interest rates up another quarter percentage point
The Federal Reserve approved a quarter-percentage-point interest-rate...
The Federal Reserve approved a quarter-percentage-point interest-rate increase and signaled plans to raise rates again next month to continue lowering inflation.
The decision Wednesday followed six consecutive larger rate rises, including an increase of a half point in December and 0.75 point in November.
Crude oil inventories rose by another 6.33 million barrels last week, the American Petroleum...
Crude oil inventories rose by another 6.33 million barrels last week, the American Petroleum Institute (API) data showed on Tuesday, on top of last week’s 3+ million barrel build.
U.S. crude inventories increased by 13 million barrels last year, according to API data, while crude stored in the nation’s Strategic Petroleum Reserves sunk by 221 million barrels.
This week, SPR inventory held steady for the third week in a row at 371.6 million barrels as the emergency releases that the Biden Administration announced last spring are now complete. The SPR now contains the least amount of crude oil since early December 1983.
Inventories at Cushing, Oklahoma, increased by 2.72 million barrels on top of the 3.378-million barrel hike reported last week.
Oilfield services firm Atlas Energy Solutions Inc filed for a U.S. initial public offering...
Oilfield services firm Atlas Energy Solutions Inc filed for a U.S. initial public offering on Jan. 31 at a time when drilling activities around the world are picking up from pandemic lows.
Reuters was the first to report last year that the Austin, Texas-based firm was preparing for a public listing which could value it between $2 billion and $3 billion including debt. In regulatory filings, Atlas describes itself as a "leading provider of proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico."
Diamondback Energy Inc.’s $1.55 billion acquisition of Lario Permian LLC...
Diamondback Energy Inc.’s $1.55 billion acquisition of Lario Permian LLC has closed, according to a Jan. 31 company press release, wrapping up the E&Ps fourth-quarter 2022 Midland Basin shopping spree.
Along with the acquisition of FireBIrd Energy LLC in November, Diamondback said the deals would increase its Midland Basin footprint by approximately 83,000 net acres, add 500 high-quality drilling opportunities and increase its 2023 production profile by approximately 37,000 bbl/d of oil (50,000 boe/d).
❄️Winter weather freezes traffic across the South:
Hope you didn’t have to fly out of Dallas yesterday, because a major winter storm ...
Hope you didn’t have to fly out of Dallas yesterday, because a major winter storm disrupted travel across Texas and other areas of the South. Airlines canceled more than 1,900 flights as of last evening, and cars got into numerous accidents in the freezing rain/sleet/snowy conditions. Even more bad news: This ice storm is expected to last until tomorrow morning, affecting a stretch from Texas up to Tennessee.
