Dallas Cowboys owner Jerry Jones strengthened his company Comstock Resources Inc’s grip on one of the largest natural gas basins in the...
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By Collin Eaton, HOUSTON (Reuters)–Medium-sour crude from the U.S. Gulf of Mexico are being snapped up by overseas buyers, paving way for...
What is forced pooling? Compulsory pooling, also known as forced, statutory or mandatory pooling, forces landowners —who do not wish the mineral...
By David Wethe – (Bloomberg) — An obscure Texas company has bid $450 million to acquire the Hanging H Ranch in one...
Wall Street Journal – By Becky Yerak –White Star Petroleum LLC, founded by late oilman Aubrey McClendon, filed Tuesday for chapter 11, days...
By Marsha Breazeale – Oilpatchpress.com When the decimal on your check for a gas well does not match the decimal on the...
Tom Metcalf just penned an article this week at Bloomberg, comparing the wealth of John D. Rockefeller, the oil magnate usually considered...
Dom DiFurio, Dallas Morning News – Pioneer Natural Resources laid off 230 employees Tuesday as the Irving-based driller works to cut $100...
Red Wolf Natural Resources, LLC (“Red Wolf”), a newly formed oil and gas exploration and production company, today announced it has acquired...
Hurricane Francine strengthened suddenly and unexpectedly on Wednesday afternoon, just ahead of a projected landfall southwest of New Orleans. The storm lashed southern Louisiana with heavy rain and wind, setting off tornado warnings across a region whose residents have been scarred by powerful disasters.
Officials urged people who had not evacuated to stay inside for their safety as the storm brought strong winds, surging seas and the risk of flash flooding. The governor of Louisiana warned that some in the state could be without power “for some time” after Francine moves through.
All three major stock indexes scored large intraday comebacks on Wednesday, helped by dip-buyers, overcoming earlier weakness seen following the release of the August consumer-price index.
Based on preliminary data, the Dow Jones Industrial Average finished up by 124.75 points, or 0.3%, at 40,861.71. It had been down by as much as 1.8% at its session low.
The S&P 500 closed up 58.61 points, or 1.1%, at 5,554.13 after falling as much as 1.6% during the day.
The Nasdaq Composite ended up by 369.65 points, or 2.2%, at 17,395.53. It had declined as much as 1.4% earlier on Wednesday.
According to Dow Jones Market Data, the Dow's and S&P 500's comebacks rank as the largest since Oct. 13, 2022. The small-cap Russell 2000, which finished up by 0.3% at around 2,104, also saw its biggest intraday comeback in almost two years.
The Nasdaq's comeback was the biggest since March 15, 2023, and Wednesday's rise represents the index's best CPI-day performance since Nov. 14.
The Dow Jones Industrial Average was tumbling on Wednesday morning, down nearly 600 points, or 1.4% as investors digested a hotter-than-expected August core inflation reading that may derail the chance of a jumbo interest-rate cut by the Federal Reserve next week.
Fed-funds futures traders saw an 85% chance that the Fed will lower its rate by a quarter percentage point to a target range of 5% to 5.25% in September. The chance of a half percentage point move fell to 15% from 34% a day ago, according to the CME FedWatch Tool.
Story from Bloomberg|By Anthony Di Paola| Libya’s crude exports continued to slump as UN-led...
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The U.S. Department of the Treasury, through its Office of Foreign Assets Control (OFAC),...
Chris Matthews from Hart Energy, who covers the North American upstream shale energy industry...
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