OklahomaMinerals.com

Snippets

• Continental shares drop again in light of Hamm’s acquisition offer
  Harold Hamm’s offer to take Continental Resources Inc. private with an offer of $70...
  Harold Hamm’s offer to take Continental Resources Inc. private with an offer of $70 a share, a bid that will cost him an estimated $4.4 billion in cash, is looking better following Tuesday’s close of trading on Wall Street.
  
  Continental Resources closed down 84 cents or 1.28% and settled at $66.67 a share or more than $3 less than what Hamm offered last week to the company’s board of directors.
  
  The day’s range of Continental shares didn’t come close to $70 and included a low of $65.90 and a high of $67.83.
  Read More
• Spicewood Mineral Partners Closes Initial $250 Million Fund Above Target
  Spicewood Mineral Partners recently closed on its initial fund, which the Dallas-based...
  Spicewood Mineral Partners recently closed on its initial fund, which the Dallas-based firm said was  “substantially oversubscribed,” with total capital commitments exceeding its target of $200 million.
  
  A U.S. mineral and energy investment firm, Spicewood has been acquiring royalties since 2016 and is currently focused on purchasing royalty interests in the Permian Basin, Eagle Ford Shale, Haynesville Shale and Appalachian region.
  Read More
• What Else is Brewing Wednesday Morning
  The Biden administration is pushing forward with a proposed rule that would shrink the amount of nicotine in cigarettes to minimal levels.
  
  Cleveland Browns QB Deshaun Watson settled 20 of the 24 sexual misconduct lawsuits filed against him.
  
  Hong Kong’s Jumbo Floating Restaurant, which was exactly what it sounds like, sank in the South China Sea after encountering “adverse conditions” and taking on water.
  
  Rail workers in the UK walked off the job in the biggest such strike in 30 years.
  
  Broadway will lift its audience mask mandate on July 1.
  
  A ketchup popsicle. In or out?
  
  
  Read More
• Dow ends up over 600 points as stocks bounce back after worst week since 2020
  The U.S. stock market closed sharply higher Tuesday, with the S&P 500 bouncing from its worst week...
  The U.S. stock market closed sharply higher Tuesday, with the S&P 500 bouncing from its worst week since March 2020 as investors bought the dip amid concerns of an economic slowdown. The Dow Jones Industrial Average DJIA, +2.15% jumped around 643 points to close more than 2% higher, while the S&P 500 SPX, +2.45% and Nasdaq Composite COMP, +2.51% each gained around 2.5%, according to preliminary FactSet data. Economic data released Tuesday showed that existing home sales in the U.S. fell 3.4% in May, a fourth straight month of declines amid rising mortgage rates.
  Read More
• Recession. Millions of layoffs. Mass unemployment. Hornet’s nest stirred up by Larry Summers’s latest forecast
  Talk of recession and mass unemployment is all over the news — and former Treasury Secretary Larry...
  Talk of recession and mass unemployment is all over the news — and former Treasury Secretary Larry Summers is the chief reason.
  
  Summers on Monday said the U.S. needs several years of high unemployment to get the worst inflation in 40 years back under control.
  

  
  
  Put in starker terms, the U.S. would have to endure a second recession in three years and as many as 10 million people would have to lose their jobs.
  
  The views of Summers — one of the most famous economists of his generation, serving in multiple Democratic administrations as well as in the presidency of Harvard University — are being taken very seriously these days. That wasn’t the case last year when he warned the Biden administration that its $1.9 trillion stimulus plan could worsen inflation.
  
  His warnings were brushed off at the time by the White House, the Federal Reserve and most professional economists. No longer.
  
  More from MarketWatch
  
  
  Read More

• Prev
• Next