Permian drilling slowdown fuels Waha gas price rally
Reduced Permian Basin natural gas production due to slowed drilling activity has helped push Waha Hub...
Reduced Permian Basin natural gas production due to slowed drilling activity has helped push Waha Hub forward gas prices above the benchmark Henry Hub, setting the stage for a stronger regional gas price environment this winter. Additionally, the upcoming startup of two brownfield gas pipeline expansions could alleviate midstream constraints and bolster prices further.
Civitas Resources grows in the Permian with $2.1B deal
Civitas Resources has entered a roughly $2.1 billion cash-and-stock...
Civitas Resources has entered a roughly $2.1 billion cash-and-stock deal to purchase 44,000 net acres in the Permian Basin's Midland portion from Vencer Energy, trader Vitol's US upstream subsidiary. The assets are expected to increase Civitas' production by an estimated 62,000 barrels of oil equivalent per day.
Maturing US shale reserves stoking investor anxiety
Investor unease is on the rise as US public exploration and production companies grapple with dwindling...
Investor unease is on the rise as US public exploration and production companies grapple with dwindling shale inventories, declining productivity and reduced growth prospects, TD Cowen managing director David Deckelbaum notes. Looking ahead, Deckelbaum believes independent companies will pivot back toward international and conventional assets to boost production.
U.S. stocks opened lower on Thursday after the S&P 500 index clinched its biggest gain in three weeks...
U.S. stocks opened lower on Thursday after the S&P 500 index clinched its biggest gain in three weeks a day earlier as Treasury yields whipsawed, keeping investors on edge ahead of Friday’s monthly jobs report from the Labor Department.
The S&P 500SPX was off by 11 points, or 0.3%, at 4,252.
The Dow Jones Industrial AverageDJIA fell by 48 points, or 0.2%, to 33,076.
The Nasdaq CompositeCOMP declined by 40.58 points, or 0.3%, to 13,192.
The Biden administration approved the cancellation of $9 billion in student loan debt from 125,000 borrowers. Student loan payments resumed this month following a pandemic pause since the Supreme Court threw out the administration’s broader student debt forgiveness program.
McDonald’s and Wendy’s won the dismissal of a lawsuit accusing them of false advertising because their burgers don’t look as big or as appetizing in person.
Actress Julia Ormond sued Harvey Weinstein, as well as Miramax and Disney, claiming the disgraced movie producer sexually assaulted her in 1995.
Prada will help design the spacesuits for NASA’s Artemis III mission to the moon, so the forthcoming drippy astronaut images will probably be real.
Apple CEO Tim Cook is $41.5 million richer (after taxes) thanks to selling off a chunk of his company stock. Sounds pretty impressive until you remember he made $355 million selling Apple stock in 2021 and still holds another ~$565 million worth.
Canada posts surprise August trade surplus as exports surge on gold, crude
Canada posted a surprise C$718 million ($521.88 million) trade surplus in August, as...
Canada posted a surprise C$718 million ($521.88 million) trade surplus in August, as transfers of gold to the United States and higher crude prices helped exports outpace a rise in imports, Statistics Canada data showed on Thursday.
Analysts in a Reuters poll had forecast a C$1.5 billion deficit. July's shortfall was revised to C$437 million.
Total exports increased 5.7%, while imports were up 3.8%, with both benefiting from higher prices in August, Statscan noted. By volume, exports rose 3% and imports increased 1.2%.
