VTX Energy Partners is expanding its footprint in the Permian Basin following a major acquisition earlier this year.
VTX agreed to acquire another 12,000 net leasehold acres in the Permian’s southern Delaware Basin, the company announced on June 5.
VTX, which is backed by Swiss energy trader Vitol, will grow its position to 47,000 net acres in the southern Delaware Basin when the deal closes. Closing is expected to occur by mid-July.
A widely anticipated counteroffensive by Ukrainian forces...
A widely anticipated counteroffensive by Ukrainian forces to recapture territory after 15 months of fighting may be underway, with Russian officials reporting intense fighting at multiple points along the battlefront in eastern Ukraine. The efforts come weeks after a protracted battle led to Ukraine ceding the mostly demolished city of Bakhmut.
Reports suggest Ukrainian forces have focused efforts near the partially occupied Zaporizhzhia region—potentially in an effort to cut off Russian access to a land bridge connected to the strategic Crimean Peninsula. See an updated map of the current state of the war here.
Shell to Exit European Home Retail Energy Businesses
Shell said on June 6 that it had decided to exit its home retail energy businesses in Britain, Germany...
Shell said on June 6 that it had decided to exit its home retail energy businesses in Britain, Germany and the Netherlands due to their poor returns.
Shell launched a strategic review of its European retail businesses in January, shortly after Chief Executive Officer Wael Sawan took office.
"That review has now concluded and as a consequence, we intend to exit those businesses. A sales process is already underway, with the intent to reach an agreement with a potential buyer in the coming months," Shell said in a statement.
Benchmark U.S. crude oil for July delivery rose...
Benchmark U.S. crudeoil for July delivery rose 41 cents to $72.15 a barrel Monday. Brent crude for August delivery rose 58 cents to $76.71 a barrel.
Wholesale gasoline for July delivery rose 2 cents $2.52 a gallon. July heating oil rose 2 cents to $2.38 a gallon. July natural gasrose 8 cents to $2.25 per 1,000 cubic feet.
Dow industrials finish down 200 points as stocks close lower
U.S. stocks closed lower on Monday, failing to extend robust...
U.S. stocks closed lower on Monday, failing to extend robust gains from last week, as technology shares pull back from 2023 highs.
The Dow Jones Industrial Average just shy of 200 points on Monday, or 0.6%, ending near 33,562, according to preliminary FactSet data. That was near the session’s low. The S&P 500index shed 0.2%, giving up earlier gains needed to qualify as having exited bear-market territory. The Nasdaq Composite Index ended 0.1% down.
Recent gains have largely come from a small group of technology shares, which have powered the overall stock market higher. Among the group is Apple Inc., which saw shares briefly touch a new intraday trading record on Monday. It lost its grip, however, on those gains in roughly the last hour of trade, ending the session down 1.1%, according to FactSet.
