Index of U.S. leading economic indicators has fallen for 13 straight months
The U.S. leading economic index fell 0.6% in April and declined for the 13th month in a row, pointing...
The U.S. leading economic index fell 0.6% in April and declined for the 13th month in a row, pointing once again to a potential recession later in the year. Economists polled by the Wall Street Journal had forecast a 0.6% drop.
Evercore ISI: Onshore permitting activity slowed in April
Onshore oil and natural gas permitting issuance totaled 3,060 in April, down 31% from March, with notable...
Onshore oil and natural gas permitting issuance totaled 3,060 in April, down 31% from March, with notable declines recorded in natural gas-rich plays such as the Haynesville, Marcellus, and Barnett shales, where permitting activity dropped by 40%, 25%, and 30%, respectively, Evercore ISI reported. The Permian Basin, which remains the epicenter of permitting activity, experienced a 34% decrease while permitting fell by 52% in the Denver-Julesburg Basin and by 45% in the Eagle Ford Shale.
ProPetro Announces $100 Million Share Repurchase Program
ProPetro Holding Corp.’s board of directors approved a $100 million share repurchase program,...
ProPetro Holding Corp.’s board of directors approved a $100 million share repurchase program, announced on May 17 in a press release. ProPetro is a Midland, Texas-based oilfield services company.
Under the program, ProPetro may repurchase outstanding common stock until May 31, 2024. The $100 million authorization represents approximately 13% of the company’s market capitalization based on the current share price.
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Commercial real-estate prices could tumble 10% from their peak and defaults are sure to increase,...
Commercial real-estate prices could tumble 10% from their peak and defaults are sure to increase, Moody's chief economist said. Higher interest rates, a credit crunch, and waning demand for office buildings are all working against the sector, in his view. Read more.
