OklahomaMinerals.com

Snippets

• US drillers add oil and gas rigs for second week in a row
  U.S. energy firms this week added oil and natural gas...
  
  

  U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since early December, energy services firm Baker Hughes reported.  The combined oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.  The report showed oil rigs rose by two to 499 this week, while gas rigs fell by one to 119.

  
  

  Despite this week's rig increase, Baker Hughes said the total count was 150, or 19%, below this time last year.

  
  

  The U.S. oil and gas rig count dropped about 20% in 2023 after rising by 33% in 2022 and 67% in 2021, due mostly to a decline in oil and gas prices, higher drilling costs and as companies cut spending in favor of paying down debt and boosting returns to shareholders.

  
  
  
  
  Read More
• NGL kicks off expansion of Delaware Basin water pipeline
  Construction has begun on NGL Energy Partners' Lea County Express Pipeline System expansion in the Delaware...
  Construction has begun on NGL Energy Partners' Lea County Express Pipeline System expansion in the Delaware Basin, which aims to increase the pipeline's produced water disposal capacity from 140,000 barrels per day to 340,000 bpd. The system could be further expanded to 500,000 bpd of capacity in the future, the company noted.
  Read More
• Texas LNG clears final regulatory hurdles for FID
  Glenfarne Energy Transition has obtained the final permits required for a final investment decision on...
  Glenfarne Energy Transition has obtained the final permits required for a final investment decision on its proposed 4.4-million-short-ton-per-year Texas LNG export plant. Glenfarne expects to close financing and begin project construction this year, with first LNG exports anticipated in 2028.
  Read More
• ☕️What Else is Brewing Saturday Morning
  Jamie Dimon shuffles JPMorgan execs in possible search for successor. We’re pretty...
  Jamie Dimon shuffles JPMorgan execs in possible search for successor. We’re pretty sure it didn’t involve a game of Boar on the Floor, but Jamie Dimon did find a way to heat up the battle to succeed him as head of the world’s biggest bank by changing up some leaders’ roles. COO Daniel Pinto will step aside from running the corporate and investment bank while continuing on as Dimon’s right hand, leaving room for two new execs to take over that division. But no matter who might be in position to come after him, Dimon probably doesn’t plan to step down any time soon.
  
  George Carlin’s estate filed a lawsuit over a comedy special that used AI to recreate the late comedian’s voice and style. And, in other celebrity deepfake news, Taylor Swift’s fans rallied to block fake, AI-generated explicit images of the singer that proliferated on X.
  
  Vince McMahon resigned as chair of TKO and left its board after a former employee accused the WWE founder of sex trafficking in a lawsuit filed this week.
  
  JetBlue said it might not close its deal to buy Spirit, even though the airlines are appealing a judge’s decision to block it.
  
  Today is International Holocaust Remembrance Day. A recent study found that nearly 80 years later, 245,000 Jewish Holocaust survivors are still alive and residing in more than 90 countries.
  Read More
• Dow posts Friday gain even as S&P 500 and Nasdaq win streaks end at six sessions
  (Friday market close) Major U.S. equity benchmarks ended mixed Friday but still posted...
  (Friday market close) Major U.S. equity benchmarks ended mixed Friday but still posted gains for the week after the Federal Reserve's favored inflation gauge, the Personal Consumption Expenditures (PCE), bolstered investor conviction the central bank is poised to cut interest rates for the first time in four years. The Dow Jones Industrial Average^® (DJI) edged to a record-high close for the third day this week.
  
  Earlier Friday, the government said PCE prices in December rose 0.2%, both overall and in the core rate, which excludes food and energy. Additionally, the closely followed year-over-year core PCE rate rose 2.9%, down from 3.2% in November and the lowest monthly figure since March 2021.
  
  Kevin Gordon, senior investment strategist at Schwab, deemed the PCE report "overall, pretty healthy." He added, however, that one report "doesn't do much to change the Fed's thinking in the near term; the Fed probably wants to see more reports like this to feel confident that inflation is on track to stay near its 2% inflation target."   Here's where the major benchmarks ended:
  
  The S&P 500^® index (SPX) fell 3.19 points (0.1%) to 4,890.97, up 1.1% for the week; the Dow Jones Industrial Average gained 60.30 points (0.2%) to 38,109.43, up 0.6% for the week;
  
  the Nasdaq Composite^® (COMP) dropped 55.13 points (0.4%) to 15,455.36, still up 0.9% for the week.
  
  The 10-year Treasury note yield (TNX) rose about 1 basis point to 4.143%.
  
  The Cboe Volatility Index^® (VIX) fell 0.19 to 13.26.
  Read More

• Prev
• Next