US E&Ps Could Drop Up to 100 Rigs at New Low Oil Price
At least 50 and up to 100 of the roughly 600 rigs drilling in the Lower...
At least 50 and up to 100 of the roughly 600 rigs drilling in the Lower 48 may be idled in response to the newly discounted $62/bbl WTI strip, according to a new J.P. Morgan Securities analysis.
J.P. Morgan Securities analyst Arun Jayaram reported that private E&Ps, which have roughly half of all U.S. rigs at work currently, are likely to drop iron first.
Oklahoma first
By basin, both private and public E&Ps could first idle D&C in the SCOOP/STACK play in Oklahoma’s Anadarko Basin where the average breakeven is about $84 for a 25% internal rate of return (IRR).
Pope Francis, the Catholic church’s first Latin American pope, has...
Pope Francis, the Catholic church’s first Latin American pope, has died at 88. He rose from a humble childhood in Argentina to become the leader of the world’s largest and most powerful church.
Francis died at about 7:30 a.m. Rome time, the Vatican announced. He had recently spent five weeks in a hospital for pneumonia. Still, he appeared yesterday in a wheelchair to bless tens of thousands of people in St. Peter’s Square for Easter Sunday.
If you’re in the US and expecting a high-end package from overseas,...
If you’re in the US and expecting a high-end package from overseas, there’s a chance it’s not getting to you. That’s because, starting today, DHL is temporarily halting shipments to the US valued at more than $800 due to a “significant increase” in red tape at customs caused by tariffs. Shipments below $800 can still pass through, although that will change beginning on May 2, when the White House is set to close that loophole. Low-cost operators such as Temu and Shein are expected to be impacted.
The Magnificent Seven have been anything but this year, with their shares...
The Magnificent Seven have been anything but this year, with their shares suffering in a chaotic market. Tesla reports tomorrow after a tumultuous 2025 that has seen the company fail to meet delivery expectations in Q1 and reportedly cut back on production of its Cybertrucks. Alphabet announces on Thursday, this after Google’s recent legal defeat in an antitrust case against its advertising business. Other notable reports on tap: Capital One (tomorrow), Boeing (Wednesday), and Chipotle (Wednesday).
Luigi Mangione will be arraigned on federal charges: On...
Luigi Mangione will be arraigned on federal charges: On Friday, the man charged with the murder of UnitedHealth CEO Brian Thompson can enter a plea on four federal charges: a firearms offense, murder through the use of a firearm, and two counts of stalking. Mangione has already pleaded not guilty to 11 charges he faces in New York and four in Pennsylvania, where he was arrested at a McDonald’s restaurant. Mangione is being held in federal custody in Brooklyn.
A Boeing 737 Max intended for China’s Xiamen Airlines landed back at Boeing’s US production facility on Saturday. No word on if they will receive a refund to their card or store credit.
Volvo plans to cut up to 800 US jobs in response to tariff uncertainty, according to Reuters.
A mistake led to the White House’s battle with Harvard, according to a Trump official, after a list of demands was sent to the university without authorization.
The CEOs of Meta, Oracle, and JPMorgan Chase sold hundreds of millions of dollars’ worth of stocks before tariff announcements rocked the financial markets.
Coca-Cola, which already won the hearts of Americans as the No. 1 soda in the US, is also poised to beat Pepsi in the trade war.
