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• Texas oil patch employment recovery continues
  Employment in Texas' oil and natural gas exploration and...
  Employment in Texas' oil and natural gas exploration and production sector improved by 2,800 jobs in August, bringing the number of jobs recovered since the height of the pandemic to 19,700, out of a total of 60,000 jobs lost, according to Texas Workforce Commission data analyzed by the Texas Oil and Gas Association. "Oil and natural gas jobs pay among the highest wages in Texas, so job growth in this sector not only bolsters our economy and energy security but also has a tremendous, positive impact for thousands of Texas families," said TXOGA President Todd Staples.
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• House Democrats take new aim at fossil fuel subsidies
  A group of six progressive House Democrats has sent a letter to top congressional leaders to express...
  A group of six progressive House Democrats has sent a letter to top congressional leaders to express disappointment over the lack of provisions to repeal certain fossil fuel subsidies in the Democrats' $3.5 trillion spending plan. "There is no reason that the fossil fuel industry deserves special privileges over other businesses," the letter read.
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• ConocoPhillips becomes Permian’s No. 2 producer after Shell deal
  Bloomberg reports ConocoPhillips’s purchase of Royal Dutch Shell...
  Bloomberg reports ConocoPhillips’s purchase of Royal Dutch Shell Plc’s Permian assets will make it the second-largest producer in the world’s top shale basin, according to data from Enverus.
  
  It also leaves Devon Energy as the 8th largest producer in the Permian.
  
  Click here for Bloomberg story
  
  
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• Natural gas futures waiting on todays storage report
  U.S. natural gas futures held near a two-week low for the third day in a row on Thursday as the market...
  U.S. natural gas futures held near a two-week low for the third day in a row on Thursday as the market waits for direction from a federal report expected to show last week's storage build was slightly bigger than usual. Traders noted prices were down about 12% from a seven-year high last week as domestic demand for the fuel fell with the coming of milder weather and output slowly recovers from the damage caused by Hurricane Ida in the Gulf of Mexico.  Analysts forecast U.S. utilities added 75 bcf of gas into storage during the week ended September 17. That compares with an increase of 74 bcf in the same week last year and a five-year (2016-2020) average increase of 70 bcf.
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• Energy Sector Commentary for Thursday
  Energy stocks are set to open higher, with another strong session expected in the equity markets set...
  Energy stocks are set to open higher, with another strong session expected in the equity markets set to offset a pullback in commodity prices.  Broader index futures are higher by another ~half a percent, carrying over strength from the prior two sessions as they rebound from Monday’s steep declines driven by concerns of a troubled Chinese real estate lender.  Yesterday’s Federal Reserve statement seemed to strike a balance between the tapering bond-buying while still maintain an accommodative rate policy, which is aiding risk assets. News flow across the sector is light.
  
  Oil prices eased but remained well above $75 a barrel on Thursday, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes. Both contracts firmed up on Wednesday after data from the EIA showed U.S. crude stocks in the week to September 17 fell by 3.5 million barrels to 414 million - the lowest total since October 2018. "With Gulf of Mexico production returning slowly, and natural gas prices remaining sky high, the structural outlook for oil remains promising as OPEC+ struggles to meet even its current production quotas," said Jeffrey Halley, an analyst at brokerage OANDA.
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