Diamondback Energy Inc.’s $1.55 billion acquisition of Lario Permian LLC...
Diamondback Energy Inc.’s $1.55 billion acquisition of Lario Permian LLC has closed, according to a Jan. 31 company press release, wrapping up the E&Ps fourth-quarter 2022 Midland Basin shopping spree.
Along with the acquisition of FireBIrd Energy LLC in November, Diamondback said the deals would increase its Midland Basin footprint by approximately 83,000 net acres, add 500 high-quality drilling opportunities and increase its 2023 production profile by approximately 37,000 bbl/d of oil (50,000 boe/d).
❄️Winter weather freezes traffic across the South:
Hope you didn’t have to fly out of Dallas yesterday, because a major winter storm ...
Hope you didn’t have to fly out of Dallas yesterday, because a major winter storm disrupted travel across Texas and other areas of the South. Airlines canceled more than 1,900 flights as of last evening, and cars got into numerous accidents in the freezing rain/sleet/snowy conditions. Even more bad news: This ice storm is expected to last until tomorrow morning, affecting a stretch from Texas up to Tennessee.
Looking Back in History: Space shuttle Columbia destroyed
On this day in 2003, while returning to ...
On this day in 2003, while returning to Earth from an orbital mission, the U.S. space shuttleColumbia broke up catastrophically at an altitude of about 40 miles (60 km) over Texas, killing all seven crew members.
Markets: After getting pummeled last year, stocks closed out the first month of 2023...
Markets: After getting pummeled last year, stocks closed out the first month of 2023 much like your friends who did Dry January—without a hangover. All three indexes rose last month, but the tech-focused Nasdaq shined brightest with a gain of more than 11%. Yesterday’s game ball went to Spotify, which revealed strong user growth last quarter.
On tap today: The Fed is expected to announce an interest rate hike of 25 basis points, which would represent a downshift from a series of larger hikes in 2022. Across town, President Biden will meet with House Speaker Kevin McCarthy to hopefully make progress on the looming debt ceiling crisis.
Dow ends up about 370 points Tuesday as stocks close out strong January
U.S. stocks finished in the green on Tuesday as the Nasdaq cemented...
U.S. stocks finished in the green on Tuesday as the Nasdaq cemented its best January performance since 2001 amid a broad-based rally in equities that saw some of 2022’s worst performers take the lead.The S&P 500 SPX, +1.46% gained 58.83 points, or about 1.5%, to finish January at 4,076.60, a gain of 6.2% for the month, according to Dow Jones Market Data. That’s the large-cap index’s best monthly gain since October, and its best January since 2019, something that is also true for the Dow. The Nasdaq Composite COMP, 1.67% rose by 190.74 points, or 1.7%, to 11,584.55 on Tuesday, bringing its gain for January to 10.7%. January was also the tech-heavy index’s best month since July. The Dow Jones Industrial Average DJIA, +1.09% rose by 368.95 points, or 1.1%, to 34,086.04, gaining 2.8% for the month, its best such performance since November. Markets rose in January with the Nasdaq rising for four weeks straight, driven by signs of slowing inflation and hopes that the Federal Reserve might soon end its most aggressive campaign of interest-rate hikes since at least the 1980s.
