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• 🌀Idalia is expected to hit Florida as a Category 3 hurricane
  Evacuations began, schools were closed, and 14 million people were under storm watches yesterday as Idalia,...
  Evacuations began, schools were closed, and 14 million people were under storm watches yesterday as Idalia, forecast to grow in strength over the Gulf of Mexico’s warm waters before making landfall tomorrow, headed toward Florida’s west coast. The National Hurricane Center warned of the potential for life-threatening storm surge as the region battered last year by deadly Hurricane Ian prepared. “Buckle up for this one,” Gov. Ron DeSantis, who spoke to the president, warned.
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• Halliburton loses patent fight over e-frac technology
  Halliburton failed to convince a U.S. federal jury on Thursday...
  Halliburton failed to convince a U.S. federal jury on Thursday that a unit of rival oilfield services company ProFrac infringed its electric-fracking patents. The jury in Waco, Texas, agreed with ProFrac's U.S. Well Services that the company's "Clean Fleet" technology did not work in the same way as Halliburton's patented technology for electric fracking, or "e-frac," which has a smaller carbon footprint than traditional fracking. ProFrac, a Willow Park, Texas-based oilfield services company backed by billionaires Dan and Farris Wilks, bought Houston-based U.S. Well Services last year.
  
  The jury also determined that two of the three Halliburton patents at issue were invalid, according to Reuters.
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• US Shale Pumps More Cash into Aging Oil Fields, Rystad Says
  US independent shale oil producers plowed money into output growth...
  US independent shale oil producers plowed money into output growth in the second quarter at the fastest rate in three years, a departure from the fiscal discipline that’s been the industry’s focus, according to a report from research firm Rystad Energy.
  
  The reinvestment rate surged to 72% in the second quarter, highs not seen since 2020, according to the study focusing on 18 companies that collectively account for about 40% of US shale output.
  
  The cash injection comes as the steep drop in output from US shale wells is turning out to be worse than expected, Rystad notes. The depleted fields have forced oil drillers to work even harder to keep production from slipping, research firm Enverus said in a separate study earlier this month.
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• Florida Faces Fuel Squeeze as Barge Traffic Falls
  Florida is facing a potential squeeze on fuel supplies as shipments into the state slow just as demand...
  Florida is facing a potential squeeze on fuel supplies as shipments into the state slow just as demand is rising from consumers preparing for the threat of a major hurricane.  Tropical Storm Idalia is strengthening, threatening to strike Florida’s west coast Wednesday as a major hurricane.
  
  Demand is surging for gasoline as Floridians fill up for possible evacuations, according to Ned Bowman, executive director of the Florida Fuel Marketers Association. Diesel buying is also up, with the fuel needed for backup power generation.
  
  Meanwhile, barge traffic moving fuel from the US Gulf Coast into Florida is down as transport slows ahead of the storm. The state is mainly supplied via waterborne shipments from refiners in Texas and Louisiana. Ports of Tampa, Manatee, St. Petersburg and Fort Myers in Florida have halted incoming ships.
  
   
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery rose 27 cents to $80.10 a barrel Monday. Brent crude for October delivery fell 6 cents to $84.42 a barrel.
  
  Wholesale gasoline for September delivery fell 8 cents to $2.80 a gallon. September heating oil fell 11 cents to $3.20 a gallon. September natural gas rose 4 cents to $2.58 per 1,000 cubic feet.
  
  
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