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Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

Armstrong, Alaska, Oil, Energy, Conventional

Armstrong, Alaska, Oil, Energy, Conventional

Bill Armstrong Proves Alaska Oil Finds Aren’t Over

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German Government Collapses at a Perilous Time for Europe
The German government collapsed on Monday...
The German government collapsed on Monday as Chancellor Olaf Scholz lost a confidence vote in Parliament, deepening a crisis of leadership across Europe at a time of mounting economic and security challenges.

The war in Ukraine has escalated, with Russia issuing increasingly dire threats against Kyiv and its supporters. President-elect Donald J. Trump is set to take office in the United States, raising new questions over Europeans’ trade relations and military defense. The government of France — Germany’s partner in leading Europe — fell earlier this month.

And now, Europe’s largest economy will be in the hands of a caretaker government ahead of elections early next year.

On Monday, German lawmakers voted to dissolve the existing government by a vote of 394 to 207, with 116 abstaining.
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U.S. stocks end mostly higher, with Nasdaq notching record closing high
The U.S. stocks ended mostly higher on Monday, with tech...
The U.S. stocks ended mostly higher on Monday, with tech stocks leading the gains, as investors await the Federal Reserve's policy meeting that concludes on Wednesday.

Wednesday marked the first time since the inception of the Nasdaq Composite in 1971 that the index set a new record closing high while the Dow Jones Industrial Average fell for the eighth straight trading day.

The Dow Jones Industrial Average finished down 0.2%, according to preliminary closing data from FactSet.

The S&P 500 ended up 0.4%.

The Nasdaq Composite rose 1.2% to a record high. It is the index's 38th record close this year.

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Phillips 66 Sells Stake in Gulf Coast Express for $865MM
Phillips 66 plans to sell its 25% stake in the Gulf Coast Express (GCX) natural gas pipeline to an ArcLight...
Phillips 66 plans to sell its 25% stake in the Gulf Coast Express (GCX) natural gas pipeline to an ArcLight Capital Partners affiliate for $865 million, with the sale expected to close in January 2025. The 500-mile pipeline system, which has a 2 Bcf/d capacity connecting the Permian Basin to the Agua Dulce hub in South Texas, will then be owned by ArcLight and Kinder Morgan. The sale aligns with Phillips 66's strategy to focus on downstream assets. CEO Mark Lashier noted that the transaction represents an estimated EBITDA multiple of 10.6x for 2025 and will support the company's priorities of shareholder returns and debt reduction.
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Delek to Buy Permian's Gravity Water Midstream for $285MM
Delek Logistics is expanding its water infrastructure portfolio with a $285 million acquisition of Gravity...
Delek Logistics is expanding its water infrastructure portfolio with a $285 million acquisition of Gravity Water Midstream, announced late last week and expected to close in the first quarter of 2025. The deal includes $200 million in cash and $85 million in Delek shares, adding over 200 miles of permanent pipeline and 46 saltwater disposal facilities in the Midland and Williston Basins, marking Delek's second water infrastructure purchase since September.
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New Jersey senator says drone sightings are “almost certainly planes.
Sen. Andy Kim (D-NJ) spent a night ...
Sen. Andy Kim (D-NJ) spent a night drone chasing with local police in the Garden State, and while he did say he saw some drones in the sky, he concluded that “most of the possible drone sightings that were pointed out to me were almost certainly planes.” The FBI concurred: “Many of the reported drone sightings are, in fact, manned aircraft being misidentified as drones.” Investigations into the sightings that began in November have found no illegal activity and no evidence of any wrongdoing by foreign adversaries. But Sen. Chuck Schumer (D-NY) and other frustrated officials are demanding answers—he called for the Department of Homeland Security to deploy technology that can track the drones back to their landing spots.
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