US Shale Gas Producer Ascent Resources Prepares for IPO
Ascent Resources LLC, one of the largest privately-held U.S. natural gas producers,...
Ascent Resources LLC, one of the largest privately-held U.S. natural gas producers, is preparing an IPO it hopes will give it a market valuation of around $6 billion, according to people familiar with the matter.
Depending on timing, it would be the first major stock market listing of a U.S. shale operator since Russia’s invasion of Ukraine in February drove a spike in gas prices.
The ensuing stock market volatility that prevented many companies from launching an IPO is now subsiding and energy prices remain elevated, making it a favorable environment for Ascent to consider pursuing a listing.
Natural gas futures dropped (-2 cents at $5.62 as of 10:00 AM ET) as NOAA's 6-10 day outlook shows above-normal temps west of the Rockies, and below-normal temps for the MS and OH River valleys. Some areas along the Northeast Coast and southern half of FL are likely to continue to see above-normal temps.
The energy sector is trading around breakeven early Friday, with weaker crude prices being offset by...
The energy sector is trading around breakeven early Friday, with weaker crude prices being offset by major market indices bouncing back this morning to commence the second quarter. U.S. stock index futures rose, as investors digested March payrolls data which showed an increase of 431,000 jobs, below the Street estimate of 490,000. The unemployment rate declined to 3.6%, below expectations. The 10-year Treasury rate is up 4.3%, to 2.448%.
WTI and Brent crude futures are down in early trading as European governments and companies continue working on a common approach to President Vladimir Putin's demand that they pay for Russian gas in roubles while the threat of an imminent halt in supplies eased. European capitals have been on alert for disruption to gas imports for weeks as Putin seeks retaliation over the West sanctioning Russia for invading Ukraine.
EIA’s monthly hydrocarbon gas liquids storage data now includes end-user storage
Yesterday’s release of EIA’s March 2022 Petroleum...
Yesterday’s release of EIA’s March 2022 Petroleum Supply Monthly now reports inventories of hydrocarbon gas liquids (HGL) that include volumes of ethane, propane, normal butane, isobutane, and natural gasoline at end-user storage facilities as part of our reported wholesale terminal stocks.
The announcement by President Biden of the largest ever release of oil from the U.S. Strategic Petroleum...
The announcement by President Biden of the largest ever release of oil from the U.S. Strategic Petroleum Reserve sent oil prices plunging 7% on Thursday.
West Texas Intermediate crude for May delivery dropped $7.54 to close at $100.28 a barrelon the New York Mercantile Exchange.
Global benchmark Brent crude for May delivery dropped $5.54 to $107.91 a barrelon ICE Futures Europe.
