Diamondback, on Hold for Endeavor Deal, Divests in Delaware Basin
Diamondback Energy, still awaiting regulatory approval to close its $26...
Diamondback Energy, still awaiting regulatory approval to close its $26 billion acquisition of Endeavor Energy Resources, has started to prune non-core assets from its portfolio, the company said in an Aug. 5 letter to shareholders.
During the second quarter, Diamondback said it received proceeds of approximately $150 million due to continued “portfolio optimization,” according to a letter from Diamondback Chairman and CEO Travis D. Stice.
“This included a $95 million sale of non-operated properties in the Delaware Basin as well as other smaller non-core transactions,” Stice said.
Oklahoma’s gross production tax revenue dropped 37% in past year
The Oklahoma Treasurer’s office announced an overall revenue increase for the state in July but a more...
The Oklahoma Treasurer’s office announced an overall revenue increase for the state in July but a more than $600 million drop in revenue from the Gross Production Tax.
Treasurer Todd Russ stated that the Gross Production Tax totaled $1.1 billion but was off $639.9 million, or 37%, for the last 12 months.
The 7% gross production tax applies to natural gas and oil production and is seen as an alternative to property tax.
Bangladesh’s prime minister resigned amid deadly anti-government...
Bangladesh’s prime minister resigned amid deadly anti-government protests. Prime Minister Sheikh Hasina has stepped down and left Bangladesh, causing celebration among protesters, some of whom stormed her former official residence. Bangladesh’s military said it is working toward forming an interim government. The change in leadership comes after weeks of deadly clashes between police and protesters who demanded an end to quotas for filling government jobs that benefit the descendants of those who fought for Bangladesh’s independence from Pakistan.
Debby made landfall as a Category 1 hurricane in Florida, causing catastrophic flooding before weakening to a tropical storm and heading for Georgia and the Carolinas.
Elon Musk sued OpenAI and Sam Altman, claiming they’ve ignored the organization’s mission to develop AI to benefit humanity. If that sounds familiar, it’s because Musk already filed and dropped a similar suit.
Meanwhile, OpenAI continues to have leadership drama: The Information reports that co-founder John Schulman has decamped to rival Anthropic, President Greg Brockman has taken an extended leave of absence, and experienced Product Manager Peter Deng has also left.
More US companies made it onto Fortune’s Global 500 List than Chinese ones this year for the first time since 2018. Walmart kept its No. 1 spot.
Justice Clarence Thomas did not disclose a 2010 flight from Hawaii to New Zealand aboard Republican donor Harlan Crowe’s private jet, a Democratic senator said, adding to a list of concerns about his financial disclosures.
An Army officer from Michigan was crowned Miss USA this weekend after the original winner stepped down.
U.S. Stock Market Sees Biggest Daily Drop in Nearly 2 Years
U.S. stocks tumbled after markets, rattled by reports of a slowing American...
U.S. stocks tumbled after markets, rattled by reports of a slowing American economy, recorded heavy declines in Asia and Europe.
Stocks fell sharply on Monday, with the Dow Jones Industrial Average posting its worst day in nearly two years, as worries over the health of the U.S. economy sparked a global market sell-off.
The Dow dropped 1,033.99 points, or 2.6%, to end at 38,703.27. The Nasdaq Composite lost 3.43% and closed at 16,200.08, while the S&P 500 slid 3% to end at 5,186.33. The blue-chip Dow and S&P 500 registered their biggest daily losses since September 2022.
Japan’s stock market posted its worst drop since Wall Street’s Black Monday in 1987, contributing to fears of global turmoil in the markets.
Benchmark U.S. crude oil for September delivery ...
Benchmark U.S. crude oil for September delivery fell 58 cents to $72.94 per barrel on Monday, and Brent crude for October delivery fell 51 cents to $76.30 per barrel.
Wholesale gasoline for September delivery rose 1 centto $2.33 a gallon. September heating oil fell 2 cents to $2.30 a gallon. September natural gasfell 3 cents to $1.94 per 1,000 cubic feet.
