Energy stocks are continuing their recent downtrend, as the rotation out of energy and back into tech,...
Energy stocks are continuing their recent downtrend, as the rotation out of energy and back into tech, growth and the Nasdaq progresses. The latest catalyst was Nvidia earnings results released after market close yesterday that shattered analyst expectations, which is adding further fuel to this cross-market rotation. Additional drivers include oil and natural gas prices trading in the red this morning.News flow is light in energy, with the current unequivocal focus on Fed Chair Jay Powell’s speech tomorrow at Jackson Hole regarding the state of the economy and the FOMC’s interest rate policy.
Oil prices trickled lower but are steadying after wider declines on Thursdaycaused by disappointing economic data from key economies, with investors awaiting a speech by U.S. Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves.
Natural gas futures are down nearly 3%, trading at 3-week lows, ahead of weekly inventory data.
OneRock Energy Buys 160,000 Acres in Powder River Basin
OneRock Energy Holdings LLC has completed the acquisition of Northwoods Management...
OneRock Energy Holdings LLC has completed the acquisition of Northwoods Management Co. and certain related entities in the Powder River Basin, according to this week's press release.
The acreage and assets, which average approximately 5,000 boe/d, are in predominantly contiguous leaseholds spanning 160,000 net acres across Converse, Campbell, and JohnsonCounties, Wyoming. The deal by private equity firm OneRock, an investment arm of Pan Management, was initially announced in June.
With backing from Apollo, Northwoods added more than 112,000 acres in the Powder River Basin through a $500 million acquisition from SM Energy Co. in 2018.
BASF has agreed to purchase around 881,000 short tons of liquefied natural gas per year from Cheniere...
BASF has agreed to purchase around 881,000 short tons of liquefied natural gas per year from Cheniere Energy starting mid-2026 until 2043 in a move aimed at reinforcing supply reliability as the chemical giant pursues net-zero emissions by 2050. The deal is expected to support Cheniere's 22-million-short-ton-per-year Sabine Pass LNG expansion in Louisiana.
India spent less money to land a spacecraft on the moon than...
India spent less money to land a spacecraft on the moon than Warner Bros. spent to make Gravity.
With a reported budget of just $75 million, India’s Chandrayaan-3 spacecraft successfully landed on the moon’s south pole yesterday, making India the first country to reach the unexplored terrain after a Russian spacecraft crashed in the same pursuit earlier this week. Its rover will rove in hopes of locating a water supply that is easily accessible—a necessity for more advanced and long-term missions to space.
Japan to send treated radioactive water into the ocean
Today, Japan will begin a decades-long ...
Today, Japan will begin a decades-long process of releasing treated wastewater from the Fukushima nuclear plant into the Pacific Ocean. Disposing of all the water is expected to take between 30 and 40 years.
Japanese officials say it’s a necessary step to decommission the plant, which was wrecked in the 2011 earthquake and tsunami and suffered a nuclear disaster. For the past 12 years, hundreds of underground tanks have stored roughly 1.34 million metric tons of contaminated water from the nuclear plant and releasing the water into the ocean is considered the most feasible option.
