Black Stone Minerals Eyes Solar Development on Upstream Acreage
Black Stone Minerals LP is eyeing opportunities...
Black Stone Minerals LP is eyeing opportunities to develop large-scale solar projects on its upstream acreage.
Black Stone and Boston-based renewable energy developer Longroad Energy inked a multi-year transaction that provides Longroadwith exclusive access to several thousand Black Stone acres across 12 states.
The framework would enable Longroad to potentially develop utility-scale solar energy projects while preserving Black Stone’s ability to co-develop its mineral and subsurface rights.
As of the end of 2022, Black Stone Minerals owned interests in about 16.8 million gross acres, with an average 43.5% ownership interest in that acreage, according to the company’s latest annual report.
The company owns interests in active plays including the Permian Basin, the Williston Basin, the Eagle Ford Shale and the Haynesville/Bossier plays.
Q2 earnings report to be released by Gulfport Energy
After delivering increased production of natural gas in the first quarter along with...
After delivering increased production of natural gas in the first quarter along with $523.1 million of net income and $229.7 million of adjusted EBITDA, Oklahoma City’s Gulfport Energy Corporation plans a release next month of its second-quarter earnings report.
Investors will learn the results when they are releasedafter the market closes on Tuesday, August 1. Leaders of the natural-gas-focused company will discuss the earnings report the following day at 8 a.m. Central Time, Wednesday, Aug. 2, 2023.
Crude oil inventories in the United States decreased this week by 797,000 barrels, the...
Crude oil inventories in the United States decreased this week by 797,000 barrels, the American Petroleum Institute (API) data showed on Tuesday after increasing by 3.026 million barrels in the week prior.
Analysts were expecting a much draw of 2.25 million barrels in U.S. crude-oil inventories. The total number of barrels of crude oil gained so far this year is nearly 34 million barrels, according to API data, although the net draw in crude inventories since April is more than 13 million barrels.
Crude oil production in the United States slipped back to 12.3 million bpd for the week ending July 7, according to EIA data, up just 100,000 bpd from the start of the year.
Inventories at Cushing, Oklahoma, fell by 3 million barrels, after rising by 2.150 million barrels in the previous week.
Benchmark U.S. crude oil for August delivery rose $1.60 to $75.75 a barrel Tuesday. Brent crude for September delivery rose $1.13 to $79.63 a barrel.
Wholesale gasolinefor August delivery rose 6 cents $2.69 a gallon. August heating oil rose 4 cents to $2.60 a gallon. August natural gas rose 12 cents to $2.63 per 1,000 cubic feet.
U.S. stocks finish higher as Dow books longest winning streak since March 2021
U.S. stock indexes ended higher on Tuesday with...
U.S. stock indexes ended higher on Tuesdaywith the Dow Jones Industrial Averagesettling at the highest level in 15 months after quarterly results from Bank of America Corp. and Morgan Stanley bolstered bank stocks, while shares of Microsoft Corp. spiked to its record high, buoying the technology sector. The Dow industrials advanced 366 points, or 1.1%, to end at 34,951, its highest closing level since April 21, 2022. The S&P 500 was up 0.7%, while the Nasdaq Composite jumped 0.8%. Bank of America Corp.’s second-quarter earnings beat Wall Street expectations, sending the megabank’s stock up by more than 4.4% on Tuesday, while Morgan Stanley’s shares rallied 6.5% after its quarterly profit dropped but beat analyst expectations.
