Pickering Energy Partners to Deploy $300 Million in Permian Basin
Pickering Energy Partners on July 13 formed a “strategic partnership” to acquire...
Pickering Energy Partners on July 13 formed a “strategic partnership” to acquire and develop oil and gas assets, the Houston-based investment firm said.
The partnership, with a large, unnamed institutional investor, will target $300 million of capital deployment alongside “premier operators” in the Permian Basin, according to a company release.
“We are in an environment where oil and gas is strategic again, where energy security and trustworthy barrels are rising as a priority for companies and consumers. We are excited to invest across the Permian and play our part in bringing U.S. production to the marketplace,” commented Dan Pickering, chief investment officer and the firm’s founder.
Economists polled by The Wall Street Journal had estimated new claims would inch down to 234,000 from last week’s estimate of 235,000.
This is the highest level of claims since early November 2021.
Key details: The number of people already collecting jobless benefits fell by 41,000 to 1.33 million. These so-called continuing claims are now back to pre-crisis levels.
Big picture: Claims have been creeping higher but the labor market remains quite tight. The Federal Reserve’s Beige Book reported that some firms were reluctant to lay off workers, worried that it will remain hard to find and retain staff.
Oil prices tumble more than $2 ahead of potential large U.S. rate hike
LONDON (Reuters) -Oil prices fell more than $2 on Thursday as investors focused on the prospect of a...
LONDON (Reuters) -Oil prices fell more than $2 on Thursday as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
Brent crude futures for September were down $2.14 to $97.43 a barrel at 1038 GMT after settling below $100 for a second straight session on Wednesday.
U.S. West Texas Intermediate crude for August delivery was at $93.78 a barrel, down $2.52.
Top Wall Street firms agree that stocks are set to rally in the second half of the year, but...
Top Wall Street firms agree that stocks are set to rally in the second half of the year, but their forecasts vary wildly. JPMorgan, Goldman Sachs, Morgan Stanley, and others all have predictions for the rest of 2022. See what the heavyweights expect to happen next — and how they say to invest.
Hamm’s “take private” offer under review by Continental directors
The Board of Directors at Oklahoma City’s Continental Resource, Inc. indicated this...
The Board of Directors at Oklahoma City’s Continental Resource, Inc. indicated this week it has moved to explore founder Harold Hamm’s $70-a-share offer in a bid to take the company private.
His $4.4 billion cash “take private” offer was made in mid-June and the Board confirmed Wednesday it had formed a special committee of independent directors to evaluate and consider the Hamm Family’s proposal. The special committee also hired independent legal and financial advisors and the committee’s “evaluation is ongoing.”
Continental shares closed Wednesday at $63.30, a gain of 34 cents or about half a point.
