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The total active U.S. rig count, which includes oil and natural-gas rigs, rose by 1 to 944, according to Baker Hughes. Baker...
HOUSTON, Sept 8 (Reuters) – The world’s largest oilfield services company, Schlumberger NV, is spending billions of dollars buying stakes in its...
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In a significant development out of the U.S. Department of the Interior, the Office of Natural Resources Revenue has elected to eliminate...
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U.S. stocks finished lower on Tuesday as the record-setting rally for the S&P 500 and the Nasdaq Composite took a pause amid concerns over the sustainability of the artificial-intelligence boom.
The Dow Jones Industrial Average fell 88.76 points, or 0.2% to end at 46,292.78, snapping a four-day winning streak, according to FactSet data.
The S&P 500 lost 36.83 points, or 0.6% to finish at 6,656.92, snapping a three-day winning streak.
The Nasdaq Composite tumbled 215.50 points, or nearly 1%, ending at 22,573.47. It was the biggest one-day point and percentage decline since Aug. 29, according to Dow Jones Market Data.
Investors on Tuesday also digested Federal Reserve Chair Jerome Powell's speech at the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon in Warwick, R.I.
While Powell avoided making any reference to whether the central bank might ease interest rates again at its next meeting in late October, he said higher inflation from tariffs is likely to last several quarters and could take some time to work its way through the supply chain.
WaterBridge Infrastructure (NYSE: WBI) successfully completed an oversubscribed IPO on September 18, raising approximately $677 million as produced water management becomes increasingly critical in the Delaware Basin. The company operates an extensive network including 2,500 miles of pipelines and 197 facilities with over 4.5 MMbbl/d capacity, serving major operators like Chevron, Devon Energy, and BP.
The IPO timing reflects growing regulatory pressures as the Texas Railroad Commission tightens saltwater disposal well permitting due to seismicity concerns and capacity constraints. Traditional disposal methods are reaching physical limits, particularly in the high-demand Stateline area, where heavy injection has elevated pore pressure.
WaterBridge's competitive advantage stems from its relationship with sister company LandBridge, providing access to underutilized pore space in lower-pressure areas. The company secured 2.3 MMbbl/d of permitted capacity outside the constrained Stateline region, positioning it well for future growth.
Shares debuted at $20 and closed the first trading day up 14% at $22.83, demonstrating strong investor confidence. Parent company Five Point Infrastructure has strategically positioned itself across Delaware Basin infrastructure, including the recent $2.375 billion sale of sour gas specialist Northwind Midstream to MPLX LP.
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