Benchmark U.S. crude oilfor June delivery rose 46 cents to $74.76 a barrel Thursday. Brent crude for June delivery rose 68 cents to $78.37 a barrel.
Wholesale gasolinefor May delivery fell 2 cents to $2.53 a gallon. May heating oilfell 2 cents to $2.35 a gallon. June natural gas rose 5 cents to $2.36 per 1,000 cubic feet.
Baytex Raises Capital for $2.5 Billion Ranger Oil Deal
Canada’s Baytex Energy Corp. moved a step closer toward finalizing its purchase of Ranger Oil...
Canada’s Baytex Energy Corp. moved a step closer toward finalizing its purchase of Ranger Oil Corp.'s Eagle Ford assets with the closing of its private offering of $800 million aggregate principal amount of senior unsecured notes.
The gross proceeds went into escrow pending satisfaction of release conditions. Proceeds will help fund the cash portion of the $2.5 billion Ranger Oil acquisition, which is expected to close in the second quarter of 2023.
Dow ends up over 500 points, Nasdaq jumps 2.4% in earnings-fueled rally
Major U.S. stock indexes posted big gains on Thursday as Meta...
Major U.S. stock indexes posted big gains on Thursday as Meta and other major technology companies embolden bullish investors with better earnings results than anticipated.The Dow Jones Industrial Average DJIA, +1.57% rose about 524 points, or 1.6%, ending near 33,826, while the S&P 500 index SPX, +1.96% gained 2%, according to preliminary FactSet figures. That marked the best daily percentage gains for both since Jan. 6, according to Dow Jones Market Data. The Nasdaq Composite Index COMP, 2.43% led the charge higher Thursday, jumping 2.4%, its best daily advance since Feb. 2. Meta Platforms Inc.’s META, +13.93% said Wednesday that the company’s profit declined less than expected in the first three months of 2023, and a revenue forecast pointed toward reinvigorated sales growth.
Suncor to Acquire TotalEnergies’ Canadian Assets for $4 Billion
Suncor Energy is growing its position in the Canadian oil sands...
Suncor Energy is growing its position in the Canadian oil sands through a major acquisition.
Suncor will pay CA$5.5 billion in cash, or around US$4.1 billion at the current exchange rate, to acquire Total’s Canadian operations. The deal also calls for future additional payments of up to CA$600 million (US$440 million)depending on commodity benchmark pricing and achieving certain production targets.
The deal includes Total’s 31.23% interest in the Fort Hills oil sands mining project and the French company’s 50% interest in the Surmont in situ oil sands asset.
Bill Gates stake in Microsoft gained $2 billion in value on Wednesday alone
A record daily price increase in Microsoft Corp. shares made...
A record daily price increase in Microsoft Corp. shares made co-founder Bill Gates $2 billion richer.
Gates remains one of the largest shareholders in Microsoft MSFT, +7.24%, with 103 million shares in the company that amount to a 1.38% stake, according to FactSet. After Microsoft’s stock price increased by $19.95 to $295.37 in Wednesday’s session, Gates’s Microsoft holdings are worth about $2 billion more.
Microsoft shares, which advanced 7.2% in Wednesday trading, logged their best single-day percentage gain since Nov. 10, 2022, when they rose 8.2%. More significantly, the shares recorded a milestone when looking on an absolute basis they had previously failed to rise by more than $19.77 in a single session.
