Friday, November 8, 2024

Another New Company Targets the Permian

Hatch Resources, Ridgemont Equity Parnters join up in the Permian Basin Hatch Resources is a newly launched private E&P based in Austin, Texas, that is led by James Murchison as CEO of the new company. The company’s plans are to pursue acquisitions of oil and gas assets in the Permian Basin. Partnering with Hatch is Ridgemont Equity Partners, a middle market buyout

A Plus for the Permian

Price differential evaporates: Midland oil traded at a premium on Friday While Permian producers, like everyone else in the oil business, must contend with the return of $50/bbl oil, they can take heart from one recent development. The Midland oil differential has vanished. Surging production from the heart of U.S. shale rapidly overwhelmed takeaway capacity in 2018, creating major discounts.

How One of Venezuela’s Last Oil Buyers May React to Sanctions

From Bloomberg After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has focused on how the remaining buyers of the South American country’s heavy, low-quality crude will react. India is the third-biggest buyer of Venezuelan oil, after the U.S. and China, averaging about 340,000 barrels a day last year, according to data compiled by

Presidents Maduro and Putin shaking hands

Russia Vows Full Support for Maduro as U.S. Sanctions Bite

From Bloomberg Russia vowed to “do everything” to protect Venezuelan President Nicolas Maduro against U.S. efforts to oust him as the Trump administration ratcheted up economic pressure on the embattled Kremlin ally amid doubts about Moscow’s ability to shore up his regime. Russia, together with other allies, will “do everything to support the legitimate government of President Maduro” and steps

Tesla Has Just 4 Weeks to Rally 21% or Pay $920 Million on Bonds

From Bloomberg The clock is now ticking for Elon Musk to avoid a $920 million bill for Tesla Inc. That’s the amount of debt coming due March 1 from convertible bonds issued back in 2014. Tesla can dodge the payout by exchanging the note for a mix of cash and stock — but only if the shares jump about 21 percent