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• Sitio Royalties Unveils Pair of Permian Basin Acquisitions Worth Nearly $550 Million
  Sitio Royalties Corp. disclosed two acquisitions in the Permian Basin...
  Sitio Royalties Corp. disclosed two acquisitions in the Permian Basin on June 27 worth a combined $547 million, building on Sitio’s strategy of consolidation of large-scale, high-quality mineral and royalty positions.
  
  Falcon Minerals completed its merger with Desert Peak Minerals on June 7, creating Sitio Royalties led by Chris Conoscenti, who previously served as CEO of Desert Peak. At the time of the initial announcement of the merger agreement in January, the combined company was expected to have a significant Permian and Eagle Ford footprint and an enterprise value of $1.9 billion.
  
  In a June 27 company release, Sitio said it had completed the acquisition of over 19,700 net royalty acres from Foundation Minerals for approximately $323 million. The company separately entered an agreement to acquire over 12,200 net royalty acres from Momentum Minerals for $224 million.
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• EPA preparing to crack down on Permian pollution
  The Environmental Protection Agency is considering issuing a non-attainment designation for parts of...
  The Environmental Protection Agency is considering issuing a non-attainment designation for parts of the Permian Basin for not meeting national ozone standards, a move that would give state regulators three years to come up with a plan to address oil and natural gas industry pollution. In response, Texas Oil and Gas Association President Todd Staples warned that "creating uncertainty on permitting and inserting unnecessary regulatory barriers will only negatively impact the production necessary to meet the needs of consumers."
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• Running Short of Gas: Russia's Pipeline Repair Has Europe Worried
  When Russia turns off the gas through the Nord Stream 1 pipeline for maintenance in July, Europe is...
  When Russia turns off the gas through the Nord Stream 1 pipeline for maintenance in July, Europe is starting to worry that it won't turn it back on again.
  
  This week, Russia cut gas flows to Europe to 40% of the pipeline's capacity, blaming delayed equipment repairs and leaving Germany and other European states racing to find alternative supplies to head off the risk of rationing when winter comes.
  
  Now, Europe fears Russian President Vladimir Putin will use a scheduled maintenance program on the pipeline from July 11 to 21 to turn the screws, putting a brake on efforts to refill inventories in retaliation for far-reaching sanctions over Moscow's invasion of Ukraine.
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• What Else is Brewing
  Three people were killed when an Amtrak train hit a dump truck in rural Missouri and derailed.
  
  The Jan. 6 committee announced a surprise hearing for this afternoon to present new evidence and hear witness testimony.
  
  Digital World Acquisition Corp., the SPAC that’s planning to merge with former President Trump’s social media app Truth Social, said that all of its board members had received subpoenas from a New York federal grand jury. The merger is already being investigated by financial regulators.
  
  Explorers say they found the deepest shipwreck ever discovered. The USS Samuel B. Roberts, which was sunk in the Philippines during World War II, was found at a depth of 22,916 feet.
  
  
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• U.S. trade deficit in goods narrows by 2.2% in May to $104.3 billion
  The numbers: The nation’s trade deficit in goods fell 2.2% in May to $104.3 billion,...
  The numbers: The nation’s trade deficit in goods fell 2.2% in May to $104.3 billion, a second straight decline that could give a lift to gross domestic product in the second quarter.
  
  The trade gap in goods fell from $106.7 billion in April and a record $125.6 billion in March, Census Bureau figures show.
  

  
  
  An advanced estimate of wholesale inventories, meanwhile, showed a 2% increase in May. Retail inventories rose 1.1% in the month, according to an early estimate.
  
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