OklahomaMinerals.com

Snippets

• Natural gas inventory - How Much is Left?
  A new report found multiple decades of natural gas resources across North America that can break...
  A new report found multiple decades of natural gas resources across North America that can break even below at a $3/MMBtu Henry Hub price.
  
  Some of the cheapest locations for gas are in Appalachia’s Marcellus and Canada’s Montney Shales. The Marcellus and Montney make up more than 80% of the locations with breakevens below $2.75/MMBtu Henry Hub.
  
  The Haynesville Shale accounts for a quarter of the locations that break even between $2.75/MMBtu and $3/MMBtu.
  
  Enverus estimates that only four years of gas drilling locations with sub-$2.75/MMBtu Henry Hub breakevens remain in the Haynesville, the Eagle Ford, and the Midcontinent.
  Read More
• LM Energy Sells New Mexico Oil Gathering Assets
  LM Energy Holdings LLC entered definitive agreements to sell subsidiaries and assets...
  LM Energy Holdings LLC entered definitive agreements to sell subsidiaries and assets related to its Touchdown Crude Oil Gathering System in Eddy and Lea counties, New Mexico. The buyer of the assets and financial details were not disclosed.
  
  LM’s crude oil gathering assets include more than 130 miles of pipelines and two terminals with 136,000 bbl of storage capacity. The company began development in 2019 and has grown volumes to approximately 75,000 bbl/d.
  Read More
• Oil’s Advance Continues as Crude Prices Make Fresh 10-Month High
  The rise in oil prices continued...
  
  

  The rise in oil prices continued on Wednesday as the U.S. crude benchmark made a fresh 10-month high, a worrying sign for short-term inflationary pressures that could influence Federal Reserve interest-rate policy.

  
  

  Continuous-contract futures for West Texas Intermediate crude gained 1.7% to above $91.90 a barrel on Wednesday, taking the rise in prices across the past month to 12.5%. It marks the highest level for the oil benchmark since November 2022.

  
  

  Oil’s advance in recent months—crude prices are up 35% since late June—has been a key force behind persistent headline inflation, with the cost of energy driving an uptick in both consumer- and producer-level inflation data for August.

  
  
  

  
  

  
  
  
  
  
  Read More
• ☕️What Else is Brewing Wednesday Morning
  Federal Communications Commission proposed reinstating net neutrality...
  Federal Communications Commission proposed reinstating net neutrality rules, requiring internet providers to treat data coming to and from all websites equally; regulations were rescinded in late 2017 (More)
  
  Hollywood writers are officially back to work after Writers Guild of America leaders voted to end the 148-day strike and put a tentative deal with producers to their members for a vote. But actors are still on strike.
  
  Target said it will close nine stores in New York City, Seattle, San Francisco, and Portland because of organized retail crime.
  
  An Apple exec told the court in the government’s antitrust suit against Google that it kept Google as the default search option for its devices because “there wasn’t a valid alternative.”
  
  The Senate reached a spending deal to avoid a government shutdown—but it probably won’t pass in the House.
  
  Hunter Biden sued Rudy Giuliani, claiming he misused personal information from a laptop the president’s son reportedly left at a repair shop.
  Read More
• API Reports a Build in Crude Oil Inventories
  The American Petroleum Institute (API) has reported a build of 1.586 million barrels in U.S....
  The American Petroleum Institute (API) has reported a build of 1.586 million barrels in U.S. crude inventories, compared to last week’s large 5.25-million-barrel draw.
  
  Analysts were expecting an inventory draw of 1.650 million barrels for the week. The total number of barrels of crude oil moves so far this year is – 4 million, according to API data, and there is a net draw in crude inventories since April of more than 51 million barrels.
  
  On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 300,000 barrels last week, with the SPR inventory still sitting at a near 40-year low of 351.5 million barrels, with total purchases for the SPR coming in at less than 4 million barrels since the Biden Administration began its buyback program.
  
  Cushing inventories fell by another 828,000 barrels, after falling 2.564 million barrels last week, leaving less than 22 million barrels in Cushing.
  Read More

• Prev
• Next