As a soft landing for the economy comes into view, the S&P 500 is on track to wrap up July with its ...
As a soft landing for the economy comes into view, the S&P 500 is on track to wrap up July with its fifth-straight monthly gain (unless we just jinxed it). But flipping the calendar comes with perils: Over the last 30 years, August and September have been the worst two months for the index, according to Bloomberg.
Exxon Mobil and Chevronshares fall after posting earnings roughly 50% lower than last year’s second quarter amid reduced energy prices (More)
Earnings on deck today:Mitsubishi Electric, Panasonic, Heineken, and other companies.
Antero Resources Corp. posted a net loss but continues to strengthen...
Antero Resources Corp. posted a net loss but continues to strengthen its drilling and operational efficiencies, picking up additional inventory in an active second quarter.
The company added approximately 8,000 net acres, representing over 27 incremental drilling locations — an average cost of $1 million per location — in a $36 million leasing program.
For the quarter, Antero posted an $83 million net loss compared to its second-quarter 2022 net income of $765 million while also achieving operational records, the company announced late last week.
Debt-ridden trucking giant Yellow reportedly shuts down
Yellow Corp., one of the largest trucking companies in the country,...
Yellow Corp., one of the largest trucking companies in the country, shut down Sunday as it prepares to file for bankruptcy, the Wall Street Journal reported.
Yellow’s collapse imperils the jobs of about 30,000 people, including about 20,000 Teamsters, according to the Journal. Many of the company’s non-union workers were reportedly laid off Friday.
US drillers cut oil rigs for eighth month in a row
U.S. energy firms in July cut the number of oil rigs for an eighth straight month...
U.S. energy firms in July cut the number of oil rigs for an eighth straight month while adding natural gas rigs for the first time in three months, energy services firm Baker Hughes said in its closely followed report on Friday.
This week, drillers cut the number of total oil and gas rigs operating for a third week in a row.
The total oil and gas rig count, an early indicator of future output, fell by five to 664 in the week to July 28, the lowest since March 2022, which puts the total rig count down 103, or 13%, below this time last year.
U.S. oil rigs fell by one to 529 this week, their lowest since March 2022, while gas rigs decreased by three to 128.
For the month, drillers cut 10 total oil and gas rigs in July, the smallest decline in three months.
Oil rigs dropped by 16 rigs in July.That put the oil count down for an eighth month in a row for the first time since drillers cut oil rigs for a record 12 consecutive months through November 2019. Gas rigs, meanwhile, rose by four rigs in July, their first increase in three months.
Texas upstream oil and natural gas sector adds 2,500 jobs in June
Despite a falling Texas rig count, newly-released data from the Texas Workforce Commission (TWC) shows...
Despite a falling Texas rig count, newly-released data from the Texas Workforce Commission (TWC) shows that upstream oil and natural gas employment in the state continued to grow in June, with the industry adding an additional 2,500 jobs. Last month, oil and natural gas employment rose above 200,000 for the first time in over three years. The 6,900 job surge originally reported for last month has now been moderated slightly to 6,400.
