Drilling, Completion Activity to Fall in Back Half of ‘23
Liberty Energy Inc. reported a reduction in frac activity during...
Liberty Energy Inc. reported a reduction in frac activity during the second quarter—a trend that’s expected to continue for the rest of this year.
As customers changed their development schedules, delayed drilling plays and redeployed frac fleets from gassy to oilier basins, Denver-based Liberty Energy saw increased white space in its calendar during the second quarter, the company reported in earnings on July 19.
Liberty anticipates its North American drilling and completion activity in the second half of 2023to be slightly lower than the first half.
Israeli Parliament Passes Law to Limit Judicial Power
The Israeli Parliament passed a law Monday that...
The Israeli Parliament passed a law Monday that limits the Supreme Court’s ability to overturn decisions made by government ministers, completing the first stage of a wider and deeply contentious effort to curb the influence of the judiciary.
The court is now barred from overruling the national government using the legal standard of “reasonableness,” a concept that judges previously used to block ministerial appointments and contest planning decisions, among other government measures.
Goldman Sachs expects ‘all time high’ oil demand to spur large deficits, boosting prices
Goldman Sachs expects record demand in oil markets to drive crude...
Goldman Sachs expects record demand in oil markets to drive crude prices higher in the near term.
“We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an all-time high,” Goldman’s head of oil research Daan Struyven told CNBC’s “Squawk Box Asia” on Monday.
He added that the bank forecasts Brent crude to rise from just above $80 per barrel now to $86 per barrel by year-end.
A 10-year rally in U.S. home prices could be coming to an end
A decade-long rally in U.S. home prices could finally come to...
A decade-long rally in U.S. home prices could finally come to an end once the Federal Reserve stops its rate-hiking cycle, said Robert Shiller, professor of economics at Yale University.
Home prices have made steady gains since 2012, according to the S&P Case-Shiller U.S. National Home Price Index.
“The fear of interest rate increases has influenced people’s thinking — it’s not just the homeowners, it’s new buyers who wanted to get in before the interest rates went up even more,” Shiller said.
“They wanted to lock in. So that’s been a positive influence on the market. But it’s coming to an end,” he added.
Amazon plans to build a $120 million facility in Florida that will ...
Amazon plans to build a $120 million facility in Florida that will prepare satellites to launch into space as it goes hard at the satellite internet business.
Leon Black, the billionaire private equity investor, agreed to pay $62.5 million to avoid a lawsuit from the US Virgin Islands over his ties to Jeffrey Epstein, the New York Times reports.
Florida Gov. Ron DeSantis has ordered an investigation into whether Bud Light’s parent company breached its obligations to its shareholders through the brand’s brief marketing partnership with transgender influencer Dylan Mulvaney, which drew massive backlash from conservatives.
Update from yesterday: Experts have concluded that the creature stalking the outskirts of Berlin was probably not a lion after all but a wild boar, and the massive police search was called off once the animal turned out to be less exotic. In other wild animal news, scientists are testing whether sharks are chomping on abandoned cocaine off the coast of Florida.
