Increased crude oil shipments from the US and the Middle East sent supertanker rates close to $40,000...
Increased crude oil shipments from the US and the Middle East sent supertanker rates close to $40,000 per day on Wednesday, the highest since June 2020. Activity has spiked in key basins amid shifting trade flows and longer voyages caused by the rerouting of Russian volumes, putting a strain on the global supertanker fleet.
Tellurian Completes $125 Million Acquisition of Private Haynesville Producer
Tellurian Inc. wrapped up its acquisition of natural gas assets located in the Haynesville...
Tellurian Inc. wrapped up its acquisition of natural gas assets located in the Haynesville Shale from privately held EnSight Energy Partners LP on Aug. 18 for $125.5 million in cash.
“This closing represents significant progress for Tellurian and our business model,” commented Tellurian President and CEO Octávio Simões in a company release.
A subsidiary of the Houston-based LNG developer, Tellurian Production LLC, had entered the previously announced agreement in July to pay up to $132.5 million to purchase the natural gas assets from EnSight IV Energy Partners LLC and EnSight Haynesville Partners LLC. The cash consideration at closing was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments, the release on Aug. 18 said.
EIA reports a smaller-than-expected weekly rise in U.S. natural gas supplies
The U.S. Energy...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 18 billion cubic feet for the week ended Aug. 12. That is compared to an average forecast for an increase of 34 billion cubic feet from analysts polled by S&P Global Commodity Insights. Total working gas stocks in storage stand at 2.519 trillion cubic feet, down 296 billion cubic feet from a year ago and 367 billion cubic feet below the five-year average, the government said.
Benchmark U.S. crude oil for September delivery rose $2.39 to $90.50 a barrel Thursday. Brent crude for October delivery rose $2.94 to $96.59 a barrel.
Wholesale gasoline for September delivery rose 10 cents to $3.03 a gallon. September heating oil rose 3 cents to $3.65 a gallon. September natural gas fell 5 cents to $9.19 per 1,000 cubic feet.
Denbury drives to 52-week high after report of potential sale
Denbury (NYSE:DEN)...
Denbury (NYSE:DEN) extends gains, +3.2% to a new 52-week high on Thursday, following a Bloomberg report that the oil company is exploring options including putting itself up for sale.
Analysts see Denbury (DEN) as underappreciated by the market, despite the attractive valuation based on its sum-of-the-parts, tremendous growth potential ahead on the carbon capture and storage side of its business, and clean balance sheet with zero debt as of the end of Q2.
