Yergin: Fracking fuels US strength, allies' energy security
Banning fracking would drag the US back into costly dependence on foreign...
Banning fracking would drag the US back into costly dependence on foreign oil, undermining its energy independence and geopolitical clout, as well as allies' energy security, argues S&P Global Vice Chairman Daniel Yergin. "Recurrent out-of-touch debates on the topic need to be tabled in light of a central fact: Shale has become crucial to the US economy and global energy security. It's here to stay," Yergin says.
Apple hinted at how the iPhone 16 is doing. The smartphone...
Apple hinted at how the iPhone 16 is doing. The smartphone giant released a critical earnings report yesterday as investors awaited any morsel of information about how the new iPhone 16 was selling. The early verdict: pretty good. Apple sold a better-than-expected ~$46 billion worth of iPhones last quarter, up 6% from the year before and a signal that the iPhone 16—which launched on Sept. 20—is off to a solid start. Sales of the iPhone 15 were “stronger than 14 in the year-ago quarter, and 16 was stronger than 15,” Apple CEO Tim Cook told CNBC. The rest of the earnings report, however, was a mixed bag. Services revenue came in under estimates, and net income underwhelmed after Apple had to pay a one-time $10.2 billion charge to Ireland for back taxes.
Ford paused production of its F-150 Lightning electric truck from mid-November to early January as demand for the once-coveted EV dwindles.
Peloton named Peter Stern, the co-founder of Apple Fitness+, as its next CEO.
Starbucks is bringing back Sharpied names on cups for the first time in four years as new CEO Brian Niccol tries to shake up the struggling coffee chain.
Google Maps will soon integrate AI features with more detailed parking options, walking directions, and restaurant recommendations.
The Grammys will move from CBS to Disney outlets (ABC, Hulu, and Disney+) starting in 2027 as part of a 10-year, $500 million deal.
Oil gains more than $2 after settlement on reports Iran preparing Israel attack
Oil prices extended gains after settlement on Thursday,...
Oil prices extended gains after settlement on Thursday, rising by more than $2 per barrel on a report that Iran is preparing to attack Israel from Iraqi territory in the coming days.
Closing Prices: Brent crude futures settled up 61 cents, or 0.84%, to $73.16 a barrel. Brent futures for December delivery expired on Thursday. The more actively traded January contract settled at $72.81. WTI futures settled up 65 cents, or 0.95%, at $69.26.
After settlement: WTI crude oil futuresjumped $2.15 or 3.13% to $70.76 at 3:22 p.m. EDT, and Brent futuresfor January delivery jumped by $2.10 or 2.91% to $74.26.
Israeli intelligence suggests Iran is preparing to attack Israel from Iraqi territory in the coming days, possibly before the U.S. presidential election on Nov. 5, Axios reported on Thursday, citing two unidentified Israeli sources.
The attack is expected to be carried out from Iraq using a large number of drones and ballistic missiles, the Axios report added. The report said that attacking pro-Iran militias in Iraq could be an attempt by Tehran to avoid another Israeli attack against strategic targets in Iran.
Marathon Oil Expects 'Mass Layoff' After ConocoPhillips Deal Closes
According to a filing with the Texas Workforce...
According to a filing with the Texas Workforce Commission, Marathon Oil Corp. will lay off a chunk of its workforce after closing on its merger with ConocoPhillips by year-end.
The Houston-based E&P is planning for “a mass layoff at the Houston Facility wherein at least 500 employees will experience an employment loss” during the 12 months following closing, said Jill Ramshaw, senior vice president for human resources, in the Oct. 28 Worker Adjustment and Retraining Notification (WARN) letter.
Marathon and ConocoPhillips announced the $22.5 billion merger in May. The Houston address listed in the WARN notice is Marathon’s corporate headquarters.
Comstock: Monster Western Haynesville Wildcats Cost $30MM-plus
Comstock Resources has confirmed its prolific,...
Comstock Resources has confirmed its prolific, super-deep, super-high-pressure, far western Haynesville Shale 2-mile-plus wildcat wells cost more than $30 million to drill and complete.
The operator reported in an investor call on Oct. 31 that the latest well’s cost was $2,814/ft for the 11,405-ft lateral. Industry rumors this past spring suggested well costs of between $30 million and $40 million at Hart Energy’s DUG GAS+ Conference & Expo in Shreveport.
By comparison, Comstock’s 16-year-old traditional Haynesville Shale wells in northwestern Louisiana—where depth is some 10,000 ft to 12,000 ft— cost $642/ft to drill and $776/ft to complete, it reported in the call.
