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• Dow ends sharply lower as stocks fall on weaker-than-expected U.S. GDP data
  U.S. stocks ended lower on Thursday after data showed that the U.S. economy...
  U.S. stocks ended lower on Thursday after data showed that the U.S. economy expanded at a modest 1.6% annual pace in the first three months of 2024, marking the weakest reading in almost two years.
  
  The Dow Jones Industrial fell 375.12 points, or 1%, to end at 38085.80. It was down 1.8% at its session low.
  
  The S&P 500 dropped 23.21 points, or 0.5%, to finish at 5048.42, snapping a three-session winning streak. The large-cap benchmark index was down as much as 1.6% at its low on Thursday.
  
  The Nasdaq Composite declined 100.99 points, or 0.6%, to close at 15611.76. The tech-heavy index was down 2.4% at its worst level on Thursday.
  
  
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• From Twitter: The upcoming presidential election in the U.S. will be heavily influenced by the prices at the gas pump
  The upcoming presidential election in...

  
  

  The upcoming presidential election in the U.S. will be heavily influenced by the prices at the gas pump, with new forecasts suggesting that the usual increase in prices during spring, leading up to the Memorial Day weekend, will happen sooner than expectedhttps://t.co/lse6IdRWeV

  
  — OilPrice.com (@OilandEnergy) April 24, 2024

  
  
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• Novo II Reloads, Aims for Delaware Deals After $1.5B Exit Last Year
  Novo Oil & Gas II is taking off and targeting Permian Basin acquisitions...
  Novo Oil & Gas II is taking off and targeting Permian Basin acquisitions after making a $1.5 billion exit last year.
  
  Novo Oil & Gas Holdings II LLC is launching with an equity capital commitment from private equity firm EnCap Investments, Novo announced on April 23. Financial terms of EnCap’s investment in Novo II were not disclosed.
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• Range Resources Holds Production Steady in 1Q 2024
  Range Resources (RRC) kept overall production at constant levels in the...
  Range Resources (RRC) kept overall production at constant levels in the first quarter of 2024, focusing on NGL to lift revenue as the company waits for the predicted arrival of a massive increase in U.S. natural gas demand.
  
  “Our annual production guidance remains unchanged, with a slightly higher liquid cut expected in the first nine months of the year when NGLs are particularly advantaged relative to natural gas based on current forward prices,” stated Dennis L. Degner; CEO, President & Director; Range Resources Corporation, during the earnings call on April 24.
  
  Range Resources Corp. engages in the exploration, development, and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.
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• EQT Sees Clear Path to $5B in Potential Divestments
  EQT Corp. will prioritize gas curtailments and its divestiture program...
  EQT Corp. will prioritize gas curtailments and its divestiture program in the near term while remaining bullish on gas demand in the future from the growth of AI data centers and LNG facilities.
  
  Speaking on an April 24 earnings call, EQT CEO Toby Rice said the company will continue to curtail production in the face of an oversupplied market at least through May. Simultaneously, EQT is upping the urgency to sell assets and reduce debt as it works to close a March 11 deal to buy Equitrans Midstream for $5.45 Billion.
  
  Asset sales will range from $3 billion to $5 billion. The company has already jumpstarted its divestiture program with an April 5 asset swap with Equinor in the Appalachian Basin. As part of the swap, Equinor will pay EQT $500 million. Rice said the transaction’s value is $1.1 billion when considering synergies, development plan upside, and Equinor’s upstream and midstream assets.
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