OklahomaMinerals.com

Snippets

• US shale consolidation trend a double-edged sword
  Growing financial pressures and drilling demands are driving...
  Growing financial pressures and drilling demands are driving a wave of consolidation in the US shale sector, with international giants sweeping up smaller independent shale drillers, according to Pioneer Natural Resources CEO Scott Sheffield. This shift, exemplified by ExxonMobils' recent $60 billion acquisition of Pioneer, could simplify supply trend analysis and enhance market stability on the one hand, and amplify OPEC's sway over the oil market on the other.
  Read More
• ☕️What Else is Brewing Saturday Morning
  Historybook: President Dwight D. Eisenhower born (1890); Chuck Yeager becomes first...
  Historybook: President Dwight D. Eisenhower born (1890); Chuck Yeager becomes first person to fly faster than speed of sound (1947); Cuban Missile Crisis begins (1962); Martin Luther King Jr. wins Nobel Peace Prize (1964); American photographer Dody Weston Thompson dies (2012).
  
  Israel-Hamas war update: Palestinians scrambled to leave the Northern part of the Gaza Strip yesterday after Israel gave the 1.1 million people in that part of the territory 24 hours to evacuate, which the UN called impossible. As it prepares for a ground war, Israel continued to launch airstrikes and began ground raids in response to Hamas’s attack last weekend targeting civilians and, per NBC, schools and a youth center, which killed 1,300 people. Meanwhile, as the conflict escalates, Saudi Arabia said it was putting the deal to normalize relations with Israel, which the US had been brokering, on hold. And President Biden pledged the US would work with other governments to surge humanitarian aid to Gaza, saying Palestinians who have nothing to do with Hamas’s terrorism were suffering.
  Read More
• US drillers add most oil rigs in a week since March
  Reuters: U.S. energy firms this week added the most oil rigs since March, boosting...

  Reuters: U.S. energy firms this week added the most oil rigs since March, boosting the oil and gas rig count for the first time in four weeks.

  
  

  The total oil and gas rig count, an early indicator of future output, rose three to 622 in the week to Oct. 13. Despite this week's rig increase, Baker Hughes said the total count was still down 147, or 19%, below this time last year.

  
  

  Oil rigs rose by four to 501 this week, while gas rigs fell by one to 117.

  
  

  U.S. oil futures were up about 8% so far this year after gaining about 7% in 2022. U.S. gas futures, meanwhile, have plunged about 28% so far this year after rising about 20% last year.

  Read More
• Stocks find small weekly gains as Israel-Gaza conflict intensifies
  U.S. stocks closed mostly lower Friday, but the...
  U.S. stocks closed mostly lower Friday, but the Dow Jones and S&P 500 posted weekly gains, as the Israel-Gaza war appeared to escalate heading into the weekend. The Dow Jones Industries DJIA rose about 39 points, or 0.1%, on Friday, ending near 33,670. The S&P 500 Index SPX fell 0.5% and the Nasdaq Composite Index COMP closed 1.2% lower. The S&P 500’s energy segment outperformed Friday, gaining 2.3%, as U.S. benchmark crude surged nearly 6% after Israel ordered more than a million people in Gaza to evacuate to the south. Treasury yields fell, with the 10-year Treasury TMUBMUSD10Y rate retreating to 4.628% Friday, snapping a 5-week yield climb.
  
  
  Read More
• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for November delivery...
  Benchmark U.S. crude oil for November delivery rose $4.78 to $87.69 a barrel Friday. Brent crude for December delivery rose $4.89 to $90.89 a barrel.
  
  Wholesale gasoline for November delivery rose 10 cents to $2.27 a gallon. November heating oil rose 17 cents to $3.21 a gallon. November natural gas fell 10 cents to $3.24 per 1,000 cubic feet.
  
  
  Read More

• Prev
• Next