Breaking News: First Republic Bank is seized by regulators and sold to JPMorgan Chase
Regulators seized control of First Republic Bank and...
Regulators seized control of First Republic Bank and sold it to JPMorgan Chase on Monday, a dramatic move aimed at curbing a two-month banking crisis that has rattled the financial system. The deal was announced hours before U.S. markets are set to open, and after a scramble by officials over the weekend.
First Republic, whose assets were battered by the rise in interest rates, had struggled to stay alive after two other lenders collapsed last month, spooking depositors and investors.
Former Williams chairman and CEO Joe Williams dead at 89
Williams is remembering and honoring former chairman and CEO Joseph H....
Williams is remembering and honoring former chairman and CEO Joseph H. “Joe” Williams, who died April 27, 2023, at age 89 in South Carolina.
Williams spent 35 years at Williams, the last 15 as chairman and chief executive officer. The son of David Williams, one of the original co-founders of Williams, he followed his cousin John Williams as CEO and served in that role from 1979 to 1994, when he retired. He was the last member of the Williams family to head Williams.
Oil Rig Count Unchanged, Gas Rigs +2; Oklahoma loses 3
Both the total number of land drilling rigs and...
Both the total number of land drilling rigsand those operating in the inland waters of the US climbed +1 (each) this week, according to data compiled by energy services firm Baker Hughes.
Oil and gas rigs in the US expanded by two this week through Friday,with oil staying at 591 and the count for gas increasing to 161 from 159 the week prior. A year earlier, the US had 552 oil rigs and 144 gas rigs in operation, its data showed. Miscellaneous rigs were unchanged at three, compared with two a year ago. The Inland Waters gained 1 new rig, compared with zero running a year ago.
Overall, there were 755 rigs operating in the US last week (including Misc. and Offshore) compared with 698 rigs last year. Among US states, top producer Texas was unchanged at 377 while Oklahoma lost three and Louisiana gained three.
The Marcellus Shale will continue to play a predominant role as demand for natural gas and natural gas...
The Marcellus Shale will continue to play a predominant role as demand for natural gas and natural gas liquids remains strong in the US and abroad, outgoing Range Resources CEO Jeff Ventura says. Range COO Dennis Degner, who will replace Ventura, says the company is demonstrating resilience and is "still delivering on stated objectives and generating free cash flow."
