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• Double Eagle V Buying Leasehold in Oily Barnett Permian Play
  Activity around the Barnett formation...

  Activity around the Barnett formation on the Permian’s Central Basin Platform is accelerating, with Double Eagle V, led by Cody Campbell and John Sellers, actively leasing acreage. Continental Resources has already produced nearly 2 MMbbl from six Barnett wells in its new West Texas play beneath Ector County’s airport, with permits in hand for 18 additional wells. Continental’s early results show strong oil-rich performance, including wells drilled beneath runways and commercial facilities. Neighboring operators include Epsilon Energy and Ares Energy, who hold 16,500 gross acres with a 25% working interest, and estimate 30 to 40 potential two-mile laterals. Epsilon reports consistent early results with type curves of 112 boe per foot, 86% oil, and first-year production averaging 200,000 boe, although drilling costs remain elevated at roughly $900 per foot.

  
  

  Competition is heating up, with Occidental, Diamondback, ConocoPhillips, and Elevation Resources also active nearby. Leasing costs have doubled or tripled in the past three years, underscoring rising interest in this oily Barnett pocket, which also shows Woodford potential. With operators demonstrating economic wells in unconventional settings such as beneath airports and urban infrastructure, the Permian Barnett is reemerging as an active and competitive development play.

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• 🚀Russia Strikes Ukraine
  Russia launched missile and drone attacks...

  Russia launched missile and drone attacks against Ukrainian cities on August 19, hours after President Volodymyr Zelensky concluded peace talks with U.S. President Donald Trump at the White House. Explosions were reported in Kremenchuk as ballistic missiles struck Ukraine's central region.

  
  

  The assault targeted energy infrastructure using multiple ballistic missiles and dozens of drones, local media reported. Cities near the front line, including Kharkiv and Poltava, also faced missile strike threats. Air raid alerts were issued across several Ukrainian regions, including Kyiv.

  
  

  The attack occurred amid intensified U.S. efforts to broker peace between Moscow and Kyiv. Trump recently met Putin in Alaska and plans to host bilateral talks between Zelensky and Putin, followed by trilateral meetings involving all three leaders. Zelensky’s gift to Trump, here.

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• From Twitter: Anybody Ever Drill a Dry Hole?
  Highlight: Armstrong gets invited to...

  
  

  Highlight:
  
  Armstrong gets invited to speak to Devon technical about drilling exploratory wells
  
  Walks into room of 75 engineers and asked show of hands how many have ever drilled a dry hole. 2 raise their hand
  
  Follows up asking how many have drilled a commercial shale well
  
  🐐 https://t.co/pZRjIczcgg

  
  — BSB 💣 (@StreetBomber) August 19, 2025

  
  
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• ☕️What Else is Brewing Wednesday Morning
  The Air Canada strike is over. Flights resumed last...
  The Air Canada strike is over. Flights resumed last night after the airline reached a deal with the union representing its flight attendants to end a three-day work stoppage that had grounded Canada’s flag carrier. Nearly 3,000 flights were canceled after more than 10,500 flight attendants walked off the job last week following months of unsuccessful contract negotiations, arguing they were not compensated fairly. The two sides did not divulge the details of their agreement, but Air Canada CEO Michael Rousseau said the company’s offer attempted to satisfy the union’s demands over unpaid work. It’s likely to take a few days before the airline’s operations return to normal.
  
  Israel said it will respond by Friday to a Gaza ceasefire plan that Hamas reportedly agreed to earlier this week.
  
  OpenAI CEO Sam Altman said he believes AI is in a bubble and that investors are “overexcited” about the technology.
  
  Chamath Palihapitiya, the former Facebook executive once known as the “SPAC King,” is returning after three years with a new blank-check vehicle.
  
  Robinhood is launching prediction markets for college football and the NFL “in the coming days.”
  
  YouTube is making a pitch to host the Oscars once the ceremony’s contract with ABC expires in 2028, Bloomberg reported.
  
  The Duffer Brothers, who created Stranger Things, are parting ways with Netflix and signing an exclusive deal to make projects for Paramount.
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• Oil prices fall on talks to end Russian invasion of Ukraine
  Reuters) - Oil prices fell on Tuesday as traders bet...

  Reuters) - Oil prices fell on Tuesday as traders bet that talks over a possible agreement to legitimize or end Russia's invasion of Ukraine could ease sanctions on Russian crude oil, boosting global supply.

  
  

  Brent crude futures settled at $65.79 a barrel, down 81 cents, or 1.22%. U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, finished at $62.35 a barrel, down $1.07, or 1.69%.

  
  

  "Even with this peace dividend, we have a record short position," said Phil Flynn, senior analyst with Price Futures Group. "Because of the size of the short position, people are betting on a cease-fire and if we don't get one there could be a bounce."

  
  

  Following a White House meeting on Monday with Ukrainian President Volodymyr Zelenskiy and European allies, U.S. President Donald Trump announced in a social media post that he had spoken with Russian President Vladimir Putin.

  
  

  Trump said arrangements were being made for a meeting between Putin and Zelenskiy, which could lead to a trilateral summit involving all three leaders.

  
  
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