Energy News Beat The United States on Wednesday (1 May) issued hundreds of fresh sanctions targeting Russia over the war in Ukraine in action that took aim at Moscow’s circumvention of Western measures, including through China. The US Treasury Department imposed sanctions on nearly 200 targets and the State Department designated more than 80 […]
Energy News Beat Weekly data by EIA reveals crude stockpiles of 7.3 million barrels for the week to April 26, a sharp swing from a draw of 6.4 million barrels posted the previous week. Standard Chartered: the fastest rate of stock draws in the first half of 2024 should happen in May and June. We’re […]
Energy News Beat ENB Pub Note: This is a disaster waiting in the wings. The “Climate Corps” would be looking to shut down any business that is not “controled” by AI or the government. Make no mistake, this is a power grab. With the national debt racing toward a record $35 trillion, President Joe Biden […]
Energy News Beat Florida lawmakers have approved new legislation that would strike mention of “climate change” from many state laws, focusing them instead on energy security. The final version of the bill, which was awaiting Gov. Ron DeSantis’ signature as of April 30, strengthens mutual-aid guidelines for power providers, helps harden electric and gas networks against […]
Energy News Beat What Powell Said about rate hikes, no rate cuts, rate cuts, and the QT slowdown while getting rid of MBS entirely. By Wolf Richter for WOLF STREET. “Hike” and “rate hike” were mentioned 8 times by reporters and by Powell during the FOMC’s post-meeting press conference today. Those terms weren’t mentioned at all in the […]
Energy News Beat Daily Standup Top Stories TotalEnergies considers moving stock listing to New York over favorable oil and gas views in U.S. May 1, 2024 Mariel Alumit (Bloomberg) – TotalEnergies SE is increasingly making noise about moving its stock listing to New York, adding to chatter around European giants potentially being attracted by U.S. investors’ […]
Energy News Beat New language: “In recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective.” By Wolf Richter for WOLF STREET. The FOMC statement released today after its two-day meeting acknowledged for the first time that inflation resurfaced as an issue after a series of worrisome inflation reports so far […]
Energy News Beat MIDLAND, Texas, April 30, 2024 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2024. FIRST QUARTER 2024 HIGHLIGHTS Average production of 273.3 MBO/d (461.1 MBOE/d) Net cash provided by operating activities of $1.3 billion; Operating […]
Energy News Beat OKLAHOMA CITY, April 30, 2024 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ:CHK) today reported first quarter 2024 financial and operating results. Net income of $26 million, or $0.18 per fully diluted share; adjusted net income(1) of $80 million, or $0.56 per share Net cash provided by operating activities of $552 million Adjusted EBITDAX(1) of $508 million; free cash flow(1) of $131 million Delivered $112 million in adjusted free cash […]
Energy News Beat U.S. crude oil prices continued to plummet on Wednesday, falling over 3% and Brent crude right behind it, shedding over 2.8% on a surprise U.S. inventory build and uncertainty about interest rate cuts and the future of oil demand growth. On Wednesday at 11:56 a.m. ET, West Texas Intermediate (WTI) was trading at $79.44, […]
Pecos Country Operating, LLC is a privately owned oil and gas exploration and production company headquartered in Fort Worth. We own and operate wells across the South Central United States with our predominant means of production coming out of West and North Texas.
