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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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• ☕️What Else is Brewing Thursday Morning
   Trump’s absolute immunity claim comes to the Supreme Court. The...
   Trump’s absolute immunity claim comes to the Supreme Court. The high court will hear arguments today on Donald Trump’s legal team’s novel theory that a president has total immunity from federal prosecution for acts committed while in office. Though the case stems from a criminal proceeding accusing Trump of interfering with the 2020 presidential election, what the court decides will have major implications for the 2024 contest—both because of what the justices decide and what the timing of their decision may mean for Special Counsel Jack Smith’s election interference case against Trump.
  
  The US has reportedly opened a criminal probe into consulting giant McKinsey’s role in the opioid crisis.
  
  Business groups, including the US Chamber of Commerce, sued to block the FTC’s new rule banning noncompetes that make it harder for employees to change jobs.
  
  Arizona lawmakers voted to repeal the state’s recently reinstated 1864 ban on abortion after two failed attempts. A repeal of the 160-year-old law would leave a more recent 15-week ban in place.
  
  Boeing burned through $3.9 billion in the first quarter as it scrambled to deal with the fallout from the door plug blowout on an Alaska Airlines plane, but it squeaked out better earnings than anticipated.
  
  The Department of Transportation issued new rules requiring airlines to provide cash refunds instead of vouchers to passengers whose flights have been canceled or seriously delayed. Other new regulations forbid hiding bag check and cancellation fees as part of the Biden administration’s push to lessen what it considers junk fees.
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• BlackRock: Transition investment must hit $4T per year
  The world invested $1.8 trillion in the energy transition last year,...
  The world invested $1.8 trillion in the energy transition last year, but that figure needs to hit $4 trillion per year by 2035, according to BlackRock's latest Investment Institute Transition Scenario. The report emphasizes the importance of public-private partnerships, blended finance and stable policies like the Inflation Reduction Act. It also recognizes a large investment opportunity in the Asia-Pacific region.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery...
  Benchmark U.S. crude oil for June delivery fell 55 cents to $82.81 per barrel Wednesday. Brent crude for June delivery fell 40 cents to $88.02 per barrel.
  
  Wholesale gasoline for May delivery was unchanged at $2.73 a gallon. May heating oil fell by 3 cents to $2.55 a gallon. May natural gas fell 16 cents to $1.65 per 1,000 cubic feet.
  
  
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