U.S. stocks closed higher Friday, with all three major benchmarks booking weekly gains...
U.S. stocks closed higher Friday, with all three major benchmarks booking weekly gains as investors shook off concerns about credit losses at regional banks and trade tensions.
The Dow Jones Industrial Average increased 0.5%, while the S&P 500 gained 0.5% and the technology-heavy Nasdaq Composite climbed 0.5%, according to preliminary data from FactSet.
For the week, the Dow rose 1.6%, the S&P 500 advanced 1.7%, and the Nasdaq gained 2.1%, according to preliminary data.
West Virginia unveiled the Mountain State Plugging Fund on Thursday to retire roughly 20,000 old oil and gas wells over the coming decades. The privately financed fund aims to prevent groundwater contamination and methane leaks at no taxpayer cost.
Diversified Energy will contribute $70 million over 20 years, projected to grow to $650 million through returns. The company agreed to retire at least 1,500 wells initially, then 250 annually. Costs range from $25,000 to over $50,000 per well.See well decommissioning practices training.
Officials believe this is the first business-funded cleanup fund of its kind. Millions of abandoned wells nationwide leak methane and pollutants, with thousands orphaned by defunct companies.
Gulf of America turning into the star of US oil growth
Slowing onshore production, technological advancements and favorable...
Slowing onshore production, technological advancements and favorable policies are putting offshore drilling at the forefront of US oil production growth this year and next, analysts and industry leaders say. Chevron expects its Gulf of America output to increase by 50% in 2026 from two years earlier, while Talos Energy touts break-even prices as low as $35 per barrel. Companies are deploying next-generation high-pressure drilling systems that could unlock up to 5 billion barrels of previously unreachable crude.
Nvidia-backed startup Poolside and cloud-infrastructure provider CoreWeave...
Nvidia-backed startup Poolside and cloud-infrastructure provider CoreWeave are teaming up to build a 500-acre AI data-center campus in West Texas that will generate its own power using nearby natural gas from the Permian Basin. The $16 billion Horizon project is designed to provide up to two gigawatts of computing capacity, with initial operations expected in early 2027.
Following what he described as a “lengthy” and “very productive”...
Following what he described as a “lengthy” and “very productive” phone call with Vladimir Putin, President Trump said he plans to meet with the Russian leader soon in Budapest to discuss ending the war in Ukraine. The phone call came ahead of today’s meeting between Trump and Ukrainian President Volodymyr Zelensky at the White House, where the two are expected to discuss sending long-range Tomahawk missiles to Ukraine. The missiles would allow Ukraine to reach much farther into Russia, including to Moscow, which experts say could force Putin to negotiate. Trump said Putin “didn’t like that idea” when he brought it up during their phone call.
