Aethon to Aquire Tellurian Haynesville Shale Assets for $260MM
Aethon Energy will acquire Tellurian Inc.'s...
Aethon Energy will acquire Tellurian Inc.'s Haynesville Shale assets for $260 million, allowing Aethon to continue growing as the basin's top private producer and for financially struggling Tellurian to prioritize its flagship Driftwood LNG project, the companies announced on May 29.
The deal expands Aethon's growing Haynesville footprint with integrated upstream assets in the Louisiana Haynesville and Bossier ShaleBasins with 31,000 net acres, including gathering and treating systems with the capacity of about 100 MMcf/d, bringing Aethon’s pro forma gathering and treating capacity to more than 3 Bcf/d.
T-Mobile bought most of UScellular for $4.4 billion. The...
T-Mobile bought most of UScellular for $4.4 billion. The third-largest mobile carrier in the US now owns what was the fifth-largest, giving T-Mobile 4 million new customers and access to UScellular’s wireless operations. T-Mobile aims to improve coverage in rural areas, where many of UScellular’s customers live. The deal, which follows T-Mobile’s acquisition of Sprint in 2020, could kick off another round of consolidation in the telecommunications industry, analysts say, as the number of major players dwindles. T-Mobile’s latest purchase is expected to close next year.
Ryan Salame, the FTX exec who turned on founder Sam Bankman-Fried, was sentenced to 7.5 years in prison.
Hess shareholders voted to approve the company’s $53 billion merger with Chevron, though it’s still unclear if the deal will survive a challenge from Exxon.
Adam Neumann gave up on his plan to buy back WeWork.
Porsche announced it’s making the first-ever hybrid version of its iconic 911 sports car.
Golden Goose, the shoe brand known for selling sneakers that look dirty on purpose, is reportedly eyeing an IPO in Milan this week at a $3.3 billion valuation.
Pope Francis apologized after Italian media reported he used a homophobic slur during a private meeting.
The recent death of President Raisi notwithstanding, the Iranian government...
The recent death of President Raisi notwithstanding, the Iranian government has approved a plan to increase oil production to 4 million b/d from the current target of 3.6 million b/d, however without providing a time frame for the capacity uptick.
US crude prices soared by nearly 3% in Tuesday’s trading
Oil prices have been trading rangebound for the fourth consecutive week,...
Oil prices have been trading rangebound for the fourth consecutive week, staying within the $81-83 per barrel range for Brent, as priced-in expectations of OPEC+ maintaining production curbs have failed to lift sentiment any higher. While improving consumption figures from the US and an increasingly bullish picture for hurricanes in the US Gulf Coast provide some medium-term hope for oil bulls, the macro outlook is still weak and the prospect of Fed interest rate cuts in June is getting slimmer.
Prices did jump today, as Benchmark U.S. crude oil for July delivery rose $2.11to $79.83 per barrel Tuesday. Brent crude for July delivery rose $1.12to $84.22 per barrel.
Wholesale gasoline for June delivery rose 3 centsto $2.51 a gallon. June heating oilrose 6 cents to $2.47 a gallon. June natural gasrose 7 cents to $2.59 per 1,000 cubic feet.
Dow ends down over 200 points, Nasdaq notches fresh record
U.S. stocks finished mixed on Tuesday afternoon as the market got hit...
U.S. stocks finished mixed on Tuesday afternoon as the market got hit by rising Treasury yields after auctions of 2-year and 5-year notes were met with soft demand, while Minneapolis Fed President Neel Kashkari said he would not rule out further rate hikes if price pressures tick up again.
Investors also reacted to economic data that showed U.S. consumer confidence rebounded in May after three months of decline, yet inflation expectations for the year went up as well.
The Dow Jones Industrial Average fell 216 points, or 0.6%, to end around 38,852, according to preliminary data from FactSet.
The S&P 500 finished nearly flat, at around 5,306.
The Nasdaq Composite was up 0.6%, ending around 17,019, its 12th record close for the year. It was also the first time in history that the tech-heavy index finished above the 17,000-level, according to Dow Jones Market Data.
