Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
Ring Energy Chairman and CEO Paul McKinney, put it aptly: “The best...
Ring Energy Chairman and CEO Paul McKinney, put it aptly: “The best place to find oil, oftentimes, is where you’ve already found it.”
Oil is easy to find, but assets are expensive to buy in the locked-up core of the Permian Basin. The breakneck pace of consolidation in the past two years has placed the highest-quality acreage in the hands of the majors and a few massive E&Ps. Tier 1 Permian locations are expensive to buy through M&A and even more difficult to discover organically.
However, the far edges of the Permian—the Central Basin Platform (CBP), the Northwest Shelf, and the Eastern Shelf—remain accessible to independent producers pushing the play’s boundaries and testing relatively unpopular zones.
Scout Taps Trades, Farm-Outs, M&A for Uinta Basin Growth
Despite increased M&A activity around its Uinta Basin position,...
Despite increased M&A activity around its Uinta Basin position, Scout Energy Partners aims to penetrate Utah’s emerging oil play more deeply.
“We think there’s potential to grow still,” said Juan Nevarez, Scout’s executive vice president, during Hart Energy’s Executive Oil Conference & Expo in Midland, Texas.
Dallas-based Scout is heaviest in the Hugoton Field, which spans across the Texas and Oklahoma panhandles into southwestern Kansas. But the company expanded into the Uinta in mid-2022 by acquiring a property from Ovintiv.
Trump threatens tariffs on those who shun the dollar
On Saturday, President-elect Trump threatened to slap prohibitive ...
On Saturday, President-elect Trump threatened to slap prohibitive 100% tariffs on BRICS countries unless they commit to stand with the US dollar and avoid establishing an alternative currency that would challenge USD’s dominance. It’s another indication that Trump will float tariffs against other countries as a means to achieve his economic goals.
What is BRICS? It’s an informal coalition of emerging economies—Brazil, Russia, India, China, and South Africa (hence the name)—that was created in 2009 and has grown to include other nations such as Argentina, Iran, and the UAE.
Do they want to move away from USD? Russia sure does. At a BRICS meeting in October, President Vladimir Putin complained about Western countries “weaponizing” the dollar to slap sanctions on Russia for its invasion of Ukraine in 2022. He’s led longstanding efforts among the BRICS countries to reduce the role of the US dollar as the world’s reserve currency and to advocate for developing alternatives.
Santa’s packing list will only get longer: Today...
Santa’s packing list will only get longer: Today is Cyber Monday, the biggest shopping day of the year. Save for a tiny blip in 2021, spending on the e-commerce extravaganza has increased every year since 2019, and is projected to rise again this year to a record $13.2 billion, according to Capital One Shopping Research. On Black Friday, Americans spent $10.8 billion on online purchases alone, per Adobe Analytics. Tomorrow is #GivingTuesday, a global movement that encourages donations to nonprofits and other charitable organizations the day after Cyber Monday. The GivingTuesday global network reported a record $3.12 billion in donations last year.
The comeback of Notre Dame: The Notre Dame Cathedral...
The comeback of Notre Dame: The Notre Dame Cathedral in Paris will reopen to the public on Saturday, five years after a fire devastated the iconic church in 2019. The painstaking restoration involved around 2,000 experts, the use of more than 1,300 stones to repair walls and vaults, the removal and cleaning of the 8,000 pipes on the Grand Organ, and three new bells. The estimated cost of the rebuilding effort was ~$737 million, which is less than the $891 million that was raised through donations.
President Biden pardoned his son, Hunter, who had been convicted on federal gun charges, reversing an earlier pledge not to pardon him.
Stellantis CEO Carlos Tavares resigned after almost four years leading the struggling maker of Ram and Jeep vehicles.
President-elect Trump nominated loyalist Kash Patel to run the FBI, an agency both he and Trump have bashed and sought to overhaul. The announcement indicates Trump is effectively firing Christopher Wray, the FBI director he appointed in 2017.
Lake-effect snow buried parts of New York, Pennsylvania, and Ohio with up to three feet of powder over the weekend, prompting the Buffalo Bills to ask for volunteers to help clear their stadium of snow before last night’s game. The Arctic blast will continue this week: Almost 70% of the continental US will experience temps below 32 degrees in the upcoming days.
