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• Permian gas infrastructure growth bodes well for oil
  Rising natural gas processing capacity and the upcoming startup of the...
  Rising natural gas processing capacity and the upcoming startup of the 2.5-Bcf/d Matterhorn Express Pipeline are expected to stimulate crude oil production in the Permian Basin, say analysts. Regional gas processing capacity is on track to increase by over 2.8 Bcf/d this year and roughly 2.3 Bcf/d in 2025.
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• $53B Chevron-Hess deal achieves key milestone
  Chevron's proposed $53 billion acquisition of Hess has received approval...
  Chevron's proposed $53 billion acquisition of Hess has received approval from Hess shareholders, although the deal can't close until ongoing arbitration with ExxonMobil regarding Hess' 30% stake in Guyana's Stabroek Block is resolved and other conditions are met. "Together we will be positioned as a premier integrated energy company, with the leadership, asset portfolio and financial resources to deliver significant shareholder value for years to come," Hess CEO John Hess stated.
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• Exxon shut down activist investors
  A virtual meeting likely hasn’t seen this much tension since your family...
  A virtual meeting likely hasn’t seen this much tension since your family tried to play Quiplash during the pandemic. Most shareholders (95%) sided with Exxon Mobil yesterday during the company’s annual shareholder meeting, voting to reelect all 12 directors despite intense drama leading up to the meeting over climate change and shareholder rights.
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• ☕️What Else is Brewing Thursday Morning
  Former OpenAI board member accuses Sam Altman of “outright...
  Former OpenAI board member accuses Sam Altman of “outright lying.” Helen Toner, a former OpenAI board member, opened up to The TED AI Show podcast about what led to the CEO’s short-lived firing. One piece of behind-the-scenes info Toner shared was that the board learned about ChatGPT’s release “on Twitter.” She also said that the board was told by executives that Altman created a toxic atmosphere of “psychological abuse.” The podcast included a statement from OpenAI’s board chair Bret Taylor saying they were “disappointed” Toner was speaking out and that an independent investigation had cleared Altman of much of what she claims.
  
  BHP won’t continue to pursue its $49 billion bid for fellow mining company Anglo American after the latter refused to extend a deadline for talks.
  
  The jury in Donald Trump’s hush money case has begun deliberating in the first criminal trial of a former US president.
  
  Kentucky prosecutors dropped all charges against golfer Scottie Scheffler, who was arrested on his way to the PGA Championship earlier this month. “Obviously, he didn’t do anything wrong,” his attorney said.
  
  Supreme Court Justice Samuel Alito rejected calls to recuse himself from cases related to the Jan. 6, 2021, Capitol riot following new reports of flags associated with the incident flying outside his homes. He said his wife was the one flying “a wide variety of flags.”
  
  Tennis fans say Ticketmaster, already facing the ire of the DOJ and the Swifites, fumbled presales for US Open tickets.
  
  Attention iPhone 7 and 7 Plus users: You have until June 3 to file your claim to a piece of a class action settlement over the phones’ audio issues. Payments could be as high as $349 per person.
  
  Washington, DC, won’t be panda-less much longer. The National Zoo announced a deal has been struck to get two new giant pandas from China by the end of the year.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for July delivery ...
  Benchmark U.S. crude oil for July delivery fell 60 cents to $79.23 per barrel Wednesday. Brent crude for July delivery fell 62 cents to $83.60 per barrel.
  
  Wholesale gasoline for June delivery fell 5 cents to $2.46 a gallon. June heating oil fell 3 cents to $2.44 a gallon. June natural gas fell 10 cents to $2.49 per 1,000 cubic feet.
  
  
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