Permian’s LandBridge Prices IPO Below Range at $17/Share, Raising $247MM
Houston-based LandBridge, which manages some 220,000 surface acres in the Permian Basin, kicked off trading at $19 per share, more than 10% above its listing price.
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Iowa Board Approves Segment of $5.5B CO2 Transport Pipeline
Summit Carbon Solutions still needs approval from four other states for its CO2 transport pipeline.
Oil Traders Expect Large Inventory Draw in Third Quarter: Kemp
Crude markets have exhibited an increasing disconnect this month between rising spot prices and calendar spreads on the one hand and swelling inventories on the other. But futures markets are forward-looking and traders appear to be anticipating a much tighter supply situation that would underpin the higher prices and spreads over the next few months. …
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US Senate Committee Probes Oil Producers on Price Collusion with OPEC
The producers the committee is probing include Exxon Mobil, Chevron, ConocoPhillips and 14 others.
Trafigura, Gunvor Demand Sparks Jump in Brent Oil Benchmark
Trafigura has bought seven cargoes since June 21 and Gunvor bought Forties and WTI cargoes on June 24.
Texas Natgas Prices Negative Even With Power Use Near June Record in Heat wave
Spot natural gas prices at the Waha hub in West Texas turned negative for a second time this week even as power demand was set to break the record high for June as homes and businesses crank up their air conditioners to escape a brutal heat wave. The Electric Reliability Council of Texas (ERCOT), which …
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Law limiting New Oil Wells in California Set to Take Effect After Industry Withdraws Referendum
SACRAMENTO, Calif. (AP) — A California law that bans drilling new oil wells near places like homes and schools will take effect after the oil industry on Thursday withdrew a referendum from the November ballot asking voters to overturn it. The law, first passed in 2022, had been delayed because the California Independent Petroleum Association gathered …
Permian-Focused LandBridge Prices U.S. IPO Below Range at $246.5 Mln
LandBridge, a landowner in the oil-rich Permian Basin in the United States, set the pricing of its initial public offering (IPO) at $17 per share to raise around $246.5 million, it said on Thursday. The Houston, Texas-based company priced its IPO below its previous target range of $19-$22, valuing it at around $1.2 billion based …
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Why Americans Are Not Buying More Electric Vehicles
Tariffs on Chinese imports could make things worse by reducing competition and increasing costs Financial Times Clint and Rachel Wells had reasons to consider buying an electric vehicle when it came to replacing one of their cars. But they had even more reasons to stick with gasoline. The couple live in Normal, Ill., which has enjoyed an …
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Banker-Lawyer Duo Make Billions From Audacious Natural Gas Bet
Lawyer Duo Make Billions From Audacious Natural Gas Bet The founders of Venture Global stand at the forefront of a US natural gas export boom that’s now in question. The US Gulf Coast is probably the only place in the world where two men with virtually no experience running an energy business could upend a …
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