Permian Resources goes all-in on the Delaware Basin
The roughly $7 billion merger between Colgate Energy and Centennial Resource...
The roughly $7 billion merger between Colgate Energy and Centennial Resource Development has given rise to Permian Resources, the largest pure-play in the Permian Basin's Delaware portion. Led by co-CEOs Will Hickey and James Walter, the company is looking to capitalize on its Delaware's infrastructure and top-tier undeveloped acreage to grow production by 10% in 2023 without sacrificing investor returns.
A new report from the Permian Strategic Partnership shows that the Permian Basin generated $11.8 billion...
A new report from the Permian Strategic Partnership shows that the Permian Basin generated $11.8 billion in tax revenues for Texas last year and supported 508,800 jobs. The region's contribution to US GDP was $153.2 billion in 2021, out of an estimated total of $23 trillion, and more than 673,900 jobs nationally were linked to the Permian, according to the report.
U.S. stock indexes pick up premarket steam in wake of August payrolls data
U.S. stock index futures advanced on Friday after August labor-market data showed the U.S. economy created...
U.S. stock index futures advanced on Friday after August labor-market data showed the U.S. economy created 315,000 jobs last month, while the unemployment rate ticked higher to 3.7%.
Futures on the Dow Jones Industrial Average YM00, 0.80% rose 167 points, or 0.5%, to 31829.
Futures on the S&P 500 ES00, 0.84% gained 27 points, or 0.7%, to 3994.
Futures on the Nasdaq 100 NQ00, 0.78% increased 88 points, or 0.7%, to 12366
Russia just said it won't sell oil to countries that try to impose a price cap on its crude
Russia's deputy prime minister has said Moscow won't sell oil to countries that try to impose a price...
Russia's deputy prime minister has said Moscow won't sell oil to countries that try to impose a price cap on its crude, just before finance ministers from the US and allies meet to discuss the plan.
The US has been pushing to put a limit on the price of Russian oil in an effort to slash Moscow's revenues and cool inflation. Finance ministers from the G7 group of leading economies are meeting virtually on Friday to hammer out details, and five officials told the Financial Times a deal is likely.
Yet Russia's deputy prime minister warned the country would refuse to keep supplying oil to anyone respecting the cap. That has raised the prospect of a sharp drop in crude supply and a spike in prices.
The natural gas price surge is driving profits at oil companies that have not hedged their gas production...
The natural gas price surge is driving profits at oil companies that have not hedged their gas production and prompting some players to expand their gas footprints. "Two or three years ago, oil companies would not even set a hand in natural gas... it was a negative, it was a nuisance, but it's not today," said Comstock Resources CEO Jay Allison.
