Comstock Continues Wildcatting, Drops Two Legacy Haynesville Rigs
The 1.5-Bcf/d pureplay nat gas producer is dropping two of its seven...
The 1.5-Bcf/d pureplay nat gas producer is dropping two of its seven rigs, with both located in its legacy, core Haynesville acreage in East Texas and Northwestern Louisiana.
Two rigs will continue to drill in the western Haynesville stepout north of Houston, the company reported. Comstock is also dropping one frac spread, averaging 1.7 crews at work during 2024.
Va. landowners lose bid to stop Mountain Valley Pipeline
The US Court of Appeals for the District of Columbia Circuit has upheld...
The US Court of Appeals for the District of Columbia Circuit has upheld the dismissal of a lawsuit brought by Virginia property owners whose land was seized via eminent domain for the construction of the Mountain Valley Pipeline. Upon remand from the US Supreme Court, the D.C. Circuit held that district courts lack jurisdiction to review a Federal Energy Regulatory Commission certificate in cases where an appeals court has received the record in another lawsuit regarding the same certificate.
Putin critic Aleksei Navalny reportedly died in a Russian prison. According...
Putin critic Aleksei Navalny reportedly died in a Russian prison. According to Russian authorities, Navalny, the country’s fiercest voice of opposition, collapsed and died after taking a walk at the remote Arctic penal colony where he’d been jailed on extremism charges that were considered a sham by Western governments and human rights groups. In 2020, Navalny was poisoned and airlifted to Germany for treatment, but the politician decided to return to Russia to continue his anti-corruption activism, even after directly accusing President Vladimir Putin of ordering the poisoning. He was immediately arrested upon returning and has been imprisoned ever since. Many other vocal critics of Putin are either imprisoned, exiled, or have already been killed.
Carl Icahn won two seats on JetBlue’s board after snapping up an almost 10% stake in the company. But the activist investor’s track record with airlines isn’t great.
Two juveniles were charged with gun and resisting arrest charges related to the deadly shooting at the Kansas City Chiefs’ victory parade.
Nike is planning to restructure and lay off 2% of its staff, more than 1,500 people, as consumers pull back on spending.
Greece legalized same-sex marriage, making it the first majority-Orthodox Christian country to do so.
How the Presidents Day holiday affects the stock and bond markets
Presidents Day honors those who have held the office of U.S. president,...
Presidents Day honors those who have held the office of U.S. president, although it originally marked the birthday of our first president, George Washington (and is still designated as Washington’s Birthday on the federal calendar). It’s always observed on the third Monday in February, which this year falls on Feb. 19. Many businesses, offices, and institutions are closed, so here’s what to expect.
MARKETS: The NYSE, Nasdaq and bond markets are all shut down. Trading resumes as normal on Tuesday, Feb. 20.
BANKS: Banks are generally closed, according to GoBankingRates.com, although you can always visit an ATM or use your banking app.
GOVERNMENT: Since Presidents Day is a federal holiday, all nonessential federal government offices are closed (and the same generally applies to state government offices).
SCHOOLS:Schools are typically closed on Presidents Day, though some districts may use it as a makeup day for weather-related closures. It’s always best to check with your local school district.
The energy sector has traded back and forth this morning, pressured by mild weakness in the major equity futures, despite mild strength in the underlying commodities. U.S. stock index futures turned negative, as a hotter-than-expected producer inflation report suppressed market speculation of an imminent interest rate cut by the Federal Reserve this year. A Labor Department report showed PPI rose 0.3% month-on-month in January, compared with a 0.1% increase expected by analysts. Annually, it rose 0.9% versus the 0.6% estimated growth. Meanwhile, the core figure, excluding volatile food and energy items, rose 0.5% month-on-month compared with an estimated 0.1% increase. On an annual basis, it rose 2% versus the 1.6% expected growth.
WTI and Brent crude oil futures are now up slightly as slowing demand forecast by the IEA offset support from geopolitical tensions and optimism that the U.S. Federal Reserve might cut interest rates sooner than later this year. The IEA said global oil demand growth was losing momentum and trimmed its 2024 growth forecast, contradicting the view held by OPEC. Meanwhile, prices were supported by persisting tensions in the Middle East. Gaza's largest functioning hospital was under siege in Israel's war with Islamist group Hamas, as warplanes struck Rafah, the last refuge for Palestinians in the enclave.
Following eight consecutive sessions of declines, natural gas futures are positive as NatGasWeather said a potential cold front could move into the Midwest and Northeast the last week of February. NOAA forecasts yesterday afternoon had both of those regions experiencing above-normal temperatures from 23-Feb to 29-Feb.
