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• DAILY OIL PRICE: September 22, 2025
  Crude Oil: 62.64   (-0.04)....
  
  
  • Crude Oil: 62.64   (-0.04).
  
  
  • Nymex MTD AVG: 63.0809.
  
  
  • Natural Gas: 2.806   (-0.082).
  
  
  • Gasoline: 1.9782   (+0.0075).
  
  
  • Spreads: October/November (+0.36)     November/December (+0.38).
  
  
  • Plains WTI Posting: 59.12   (-0.04).
  
  

  
  Source: Odessa American
  
  
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• Dow, S&P and Nasdaq end at all-time highs; gold books 36th record close of 2025
  U.S. stocks kicked off the week on Monday with another...

  U.S. stocks kicked off the week on Monday with another round of records for the major benchmarks, ending higher as shares of Nvidia Corp. soared after the chip maker announced a $100 billion investment in OpenAI that appeared to reinforce investor enthusiasm around artificial intelligence. Apple Inc. shares also jumped, buoyed by hot demand for new iPhone models.

  
  

  The Dow Jones Industrial Average rose 66.27 points, or 0.1%, to finish at 46,381.54.

  
  

  The S&P 500 ended 29.39 points higher, up 0.4%, at 6,693.75.

  
  

  The Nasdaq Composite advanced 157.50 points, or 0.7%, to close at 22,788.98.

  
  

  The finish marked the seventh record close of 2025 for the Dow, the 28th record for the S&P 500 and the 29th record for the Nasdaq.

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• EON Resources, Virtus strike farmout to drill up to 90 San Andres wells
  EON Resources has announced a farmout agreement...

  EON Resources has announced a farmout agreement with a subsidiary of Virtus Energy Partners.

  
  

  Under the agreement, Virtus acquired the right to develop EON’s San Andres formation within the Grayburg Jackson field. The company believes as many as 90 horizontal drilling locations are prospective. Virtus will be the designated operator and lead the development efforts. Virtus paid EON $5 million for the acquisition of a 65% working interest in the leasehold rights in the San Andres formation. EON retains a 35% non-operated working interest in the San Andres and 100% operated working interest in the remaining productive formations.

  
  

  Virtus has a recent and relevant history as the preeminent horizontal San Andres developer in the Permian Basin. Organically and through acquisitions, Virtus created immense value in the state line area of Texas and New Mexico, growing from zero to more than 30,000 gross operated barrels of oil equivalent per day from more than 200 horizontal San Andres wells.

  
  

  Virtus expects to drill as many as 90 horizontal wells at a cost between $3.5 million and $4 million per well. The first three wells are anticipated to be completed by midyear 2026 and the associated costs are solely Virtus’ responsibility.

  
  

  The cumulative investment by both companies is expected to exceed $300 million over the life of the project. The annual drilling program is expected to range from 10 to 20 new horizontal wells per year with initial production rates of 300 to 500 barrels of oil per day. Over the life of the drilling program, gross oil production is expected to exceed 20,000 barrels of oil per day with 35%, or 7,000 BOPD, net to EON’s working interest.

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• Comstock to Sell Texas, Louisiana Haynesville Acreage
  Comstock Resources is marketing its...

  Comstock Resources is marketing its legacy Haynesville Shale assets for sale as it grows and develops a portfolio in the far western Haynesville wildcat play. Comstock is majority owned by Dallas Cowboys owner Jerry Jones, who holds 71% of the gas producer’s outstanding shares.

  
  

  Frisco, Texas-based Comstock aims to sell approximately 38,000 net Haynesville acres across East Texas and Louisiana. Comstock holds 302,253 net acres in its legacy Haynesville and Bossier plays, the company said via documents included in second-quarter earnings. Comstock holds 524,488 net acres in the western Haynesville play.

  
  

  The company brought 21 operated legacy Haynesville wells online in the first half of the year, averaging 11,803 ft of lateral length. IP rates averaged 25 MMcf/d per well.

  
  

  Net dry gas production from the assets averages approximately 150 MMcf/d, with an average working interest of 87%. Comstock is working with Bank of America to market the Haynesville assets.

  
  

  The package includes assets and acreage in Harrison County, Texas, and Caddo, Bossier, Webster and Bienville parishes, Louisiana, though the materials did not specify acreage by location.

  
  
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• The UN General Assembly starts today
  Scores of world leaders are descending on Manhattan this week for the...
  Scores of world leaders are descending on Manhattan this week for the event’s 80th session. This year’s theme is “Better Together,” but don’t let the Jack Johnson song title fool you. Things could quickly get tense, with a conference on Palestinian statehood on the agenda for today. President Trump is slated to speak tomorrow morning and is expected to meet with Ukrainian President Volodymyr Zelensky at some point during the week.
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