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Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy Lending Shrinks as Upstream Spending Declines

Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

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Kodiak Gas Services secures $256M in lackluster IPO
Oilfield service provider Kodiak Gas Services has raised $256...
Oilfield service provider Kodiak Gas Services has raised $256 million at a $1.2 billion valuation in a subdued initial public offering of 16 million shares. The company aims to use the IPO proceeds to reduce debt and expand its compression capacity in the Permian Basin.
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Frontier Receives Federal Funds to Develop Carbon Storage Hub
Frontier Carbon Solutions Holdings LLC announced it has received...
Frontier Carbon Solutions Holdings LLC announced it has received federal funds to help develop its Sweetwater Carbon Storage Hub (SCS Hub), which the company said will eventually hold more than 350 million metric tons of CO₂, according to a June 29 press release.

The hub will be further developed with Frontier’s partner, the University of Wyoming’s School of Energy Resources. Frontier and the university received a $40.5 million award from the Department of Energy’s CarbonSAFE initiative. The funding will be used to drill class VI injection wells and expand reservoir characterization across the hub’s area.

Frontier, a portfolio company of Tailwater Capital LLC, said that the carbon storage hub will span over 45,000 acres in southwestern Wyoming.
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Energy Sector Commentary
The energy sector is off to a...
The energy sector is off to a broadly higher start, supported by strength in the crude complex and in the major equity futures. U.S. stock index futures extended gains after data showed a closely watched measure of inflation cooled in May, offering fresh evidence of easing price pressures due to the Federal Reserve's aggressive interest rate hikes. A Commerce Department report showed the personal consumption expenditures price index rose 3.8% in May, on an annual basis from 4.3% last month.

WTI and Brent crude oil futures are trading higher but remain on course for a fourth consecutive quarter of losses amid concerns over sluggish global economic activity and fuel demand. Inflationary pressure and rising interest rates in key economies and a slower-than-expected recovery in Chinese manufacturing and consumption have weighed on markets in recent months. However, signs of strengthening U.S. economic activity and sharp declines in U.S. oil inventories last week offered support.

Natural gas futures are trading lower as the NOAA's 6-10 day outlook shows a cooler trend across parts of the east-central US, with below-normal temps reaching into the Southeast and Central Gulf Coast regions, as well as the Northern and Central Rockies and Plains.
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☕️What Else is Brewing Friday Morning
The NFL suspended three players indefinitely—and a fourth for six games—for violating the league’s...
The NFL suspended three players indefinitely—and a fourth for six games—for violating the league’s gambling policy.

Burlington Stores (not Spirit Halloween, sadly) will take over more than 50 locations vacated by bankrupt Bed Bath & Beyond. Meanwhile, Overstock.com, the company that bought Bed Bath & Beyond’s name and digital assets, will rebrand as...Bed Bath & Beyond.

Rapper Travis Scott won’t face criminal charges for his role in a crowd surge that killed 10 people at the Astroworld festival in 2021.

A minuscule handbag that’s less than 0.03 inches wide sold for more than $63,000 at auction.

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Politics & World Affairs
Russia arrests army general...
Russia arrests army general said to have had prior knowledge of the recent revolt by the Wagner mercenary group (More) | See updates on the war here (More)

French officials deploy 40,000 officers to quell riots sparked by the police shooting of a food delivery driver in a Paris suburb; at least 150 people have been arrested in two days of unrest (More)

Weather advisories grow to cover roughly two-thirds of the US, with high temperatures in California and the Southern US, and air quality alerts in the Midwest and East Coast from Canadian wildfires (More_
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