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☆ These oil companies could be the next takeover targets in Permian Basin after Diamondback deal
▼ + stars: | 2024-02-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Diamondback Energy took one of the last major, privately held operators in the Permian off the table this week when it agreed to buy Endeavor Energy Resources for $26 billion. The deal is poised to catapult Diamondback into the top tier in the Permian, the most prolific oil patch in the U.S. that stretches from western Texas into southeastern New Mexico. The top six companies in the Permian are set to own 62% of the basin's remaining oil reserves, according to Rystad Energy. The stubborn holdouts After the Diamondback-Endeavor and Occidental-CrownRock deals, the only other major privately held producers left in the Permian are Continental Resources and Mewbourne Oil. Conoco could potentially seek to acquire Permian Resources , Civitas , Coterra, Vital Energy or Ovintiv , Bernstein said.

Persons: Matthew Bernstein, Bernstein, Hess, Andy Lipow, Neal Dingmann, Mewbourne, Dingmann, Ovintiv, Enerplus, Bob Yawger, Yawger, weren't, Ryan Lance, Lance, Conoco, EOG Organizations: Diamondback Energy, Endeavor Energy Resources, Diamondback, Exxon Mobil, Chevron, Rystad Energy, Truist Securities, CRFA Research, Endeavor, CNBC, Exxon, Natural Resources, Occidental, Lipow Oil Associates, Resources, Mewbourne, Continental, Publicly, Civitas, Coterra, Vital Energy, Devon Energy, Marathon Oil, Bloomberg News, Marathon, Reuters, CFRA, ConocoPhillips, Mizuho Locations: U.S, Texas, New Mexico, Guyana, Devon, Bakken, North Dakota, Occidental, Mizuho Americas, Marathon

☆ Michael Burry of ‘The Big Short’ fame buys Amazon, Alphabet and a dozen other new stocks
▼ + stars: | 2024-02-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Michael Burry, best known for calling the subprime mortgage crisis, added several new stocks in the fourth quarter, including some leading tech names Amazon and Alphabet , according to a new regulatory filing. The 52-year-old's new Amazon and Alphabet positions were worth more than $4 million each at the end of 2023. The chip ETF fund was up nearly 22% in the fourth quarter. During the fourth quarter, Burry also added small positions in MGM Resorts , Advance Auto Parts , Warner Bros. The latest SEC filing from Scion Asset reflects Burry's holdings as of the end of December.

Persons: Michael Burry, Burry, Michael Lewis Organizations: Scion Asset Management, Healthcare, Oracle, Citigroup, CVS Health, Amazon, iShares Semiconductor, MGM Resorts, Advance, Parts, Warner Bros, Vital Energy, SEC, Scion Asset Locations: Mettler, Toledo, Bruker

☆ Construction Progresses at Russian Plant for Iranian Drones - Report
▼ + stars: | 2023-11-13 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

The report said a mid-September satellite image showed that new construction at the plant "directly" correlated with a leaked building floor plan that the Washington Post shared with the institute earlier this year. The satellite image also showed the construction of other structures and new security perimeters with checkpoints, the report said. "A key overdue step" is for Washington to sanction Alabuga and its associated companies, the report continued. Alabuga JSC is 66 percent owned by the federal government and 34 percent by the republic, the report said. The White House in June said Russia and Iran appeared to be deepening their defense cooperation and that in addition to supplying drones, Tehran was working with Moscow to produce Iranian drones in Alabuga.

Persons: Iran's, Volodymr Zelenskiy, Jonathan Landay, Sandra Maler Organizations: WASHINGTON, JSC Alabuga, Institute for Science, International Security, Washington Post, Sunday, Alabuga JSC, House Locations: Russia, Moscow, United States, Russian, ., Washington, Tartarstan Republic, Iran, Tehran

☆ Construction progresses at Russian plant for Iranian drones - report
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

The White House, the Russian embassy and Iran's U.N. mission did not immediately respond to requests for comment. The report said a mid-September satellite image showed that new construction at the plant "directly" correlated with a leaked building floor plan that the Washington Post shared with the institute earlier this year. The satellite image also showed the construction of other structures and new security perimeters with checkpoints, the report said. Alabuga JSC is 66 percent owned by the federal government and 34 percent by the republic, the report said. The White House in June said Russia and Iran appeared to be deepening their defense cooperation and that in addition to supplying drones, Tehran was working with Moscow to produce Iranian drones in Alabuga.

Persons: Nuzhnenko, Iran's, Volodymr Zelenskiy, Jonathan Landay, Sandra Maler Organizations: Radio Free, Radio Liberty, REUTERS, Rights, JSC Alabuga, Institute for Science, International Security, Washington Post, Sunday, Alabuga JSC, House, Thomson Locations: Avdiivka, Ukraine, Donetsk region, Radio Free Europe, Russia, Moscow, United States, Russian, ., Washington, Tartarstan Republic, Iran, Tehran

☆ Finland Suspects Chinese Ship’s Anchor Damaged Gas Pipeline
▼ + stars: | 2023-10-24 | by ( Georgi Kantchev | ) www.wsj.com time to read: 1 min

Finnish Navy divers supported authorities in the investigation of the damaged pipeline in the Baltic Sea, in this undated handout. Photo: Finnish Navy/ReutersFinland said that a Chinese ship’s anchor had likely caused a mysterious rupture of an undersea gas pipeline in the Baltic Sea earlier this month that raised concerns about the vulnerability of European infrastructure to sabotage amid mounting tension between Russia and the West. The damage of the pipeline linking North Atlantic Treaty Organization member states Finland and Estonia, as well as the disruption of two telecommunications cables that happened around the same time, came after months of efforts by governments to beef up security around Europe’s vital energy, information and transportation networks.

Organizations: Finnish Navy, Reuters, Treaty Organization Locations: Baltic, Reuters Finland, Russia, North, Finland, Estonia

☆ 'Cheap' and 'compelling': Pros name the oil stocks to buy — giving one over 120% upside
▼ + stars: | 2023-10-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Oil prices jumped 4% on Monday during Asia hours , in the wake of the attack. Young said names in international and offshore oilfield services should pick up as oil prices rebound. "It just executed a large set of acquisitions and is well positioned for higher oil prices and more interest in the sector." Generally, Young said oil and gas stocks are "particularly compelling." Neuhauser said small-cap energy stocks that have leveraged to increased oil prices are the ones to own right now.

Persons: Josh Young, Young, Saturday . Young, Antony Blinken, Biden, CNBC's, David Neuhauser, Stocks, Neuhauser, Scott Nations Organizations: Bison, Hamas, Saturday ., United Nations, Reuters, U.S . Energy Information Administration, Livermore Partners, CNBC Pro, Nasdaq, Weatherford, Vital Energy, Exxon, Global Energy, Vista Energy, Jadestone, Brent, Scott, Chevron, ConocoPhillips Locations: Israel, Asia, Iran, U.S, Tehran, Strait, Hormuz

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Chipmakers including Nvidia (NVDA.O), Micron Technology (MU.O) and Advanced Micro Devices (AMD.O) added between 0.7% and 1.2% before the bell. Citigroup also expects the Fed to hike interest rates by 25-basis points in November, compared with its previous forecast of a September hike. ET for further clues on the trajectory for U.S. interest rates ahead of the Federal Reserve's policy meeting next week. Meanwhile, investors largely expect another European Central Bank rate hike later in the day, which will take interest rates to a record high, amid sticky inflation and a deteriorating economy.

Persons: Brendan McDermid, Emin Hajiyev, Warren Buffett's Berkshire Hathaway, Ankika Biswas, Shristi, Saumyadeb Chakrabarty, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Vital Energy, Dow, Nasdaq, Wall, Arm Holdings, Nvidia, Micron Technology, Devices, Insight Investment, Tool, Citigroup, Apple, Google, Microsoft, Treasury, Central Bank, Dow e, HP, Visa, Thomson Locations: New York City, U.S, Bengaluru

☆ Vital Energy expands in Permian Basin with deals valued at $1.17 bln
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A pumpjack is shown outside Midland-Odessa area in the Permian basin in Texas, U.S., July 17, 2018. REUTERS/Liz Hampton/File Photo Acquire Licensing RightsSept 13 (Reuters) - Vital Energy has signed agreements valued at about $1.17 billion to expand its acreage in the Permian Basin, where dealmaking is gathering pace as drillers tap the largest U.S. oil patch to quickly replenish their depleting reserves. The deal will increase the company's current production by about 35,000 barrels of oil equivalent per day (boepd), Vital said on Wednesday. Vital in May also acquired Permian assets of Forge Energy II Delaware, an EnCap portfolio company, in a $540 million all-cash deal. The deals announced on Wednesday, with the affiliates of Henry Energy and Henry Resources, Tall City Property Holdings III and Maple Energy Holdings, are expected to close in the fourth quarter, Vital said.

Persons: Liz Hampton, Vital, Henry Energy, Seher, Sriraj Kalluvila Organizations: REUTERS, Vital Energy, drillers, Vital, Forge, Henry, Henry Resources, City Property Holdings, Maple Energy Holdings, Thomson Locations: Midland, Odessa, Texas, U.S, New Mexico, Forge Energy II Delaware, Bengaluru

☆ Britain to grant over 100 new North Sea oil and gas licences
▼ + stars: | 2023-07-31 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

LONDON, July 31 (Reuters) - Britain will grant more than 100 new oil and gas licences in the North Sea as part of efforts to tap domestic supplies and become more energy independent, the government said on Monday. Sunak said the new licences would support domestic supply, reduce reliance on hostile states, boost jobs in the sector and reduce the carbon footprint when compared with an alternative option of importing liquified natural gas. The oil and gas industry regulator expects the first of the new licences, which will continue to face climate compatibility tests, to be awarded in the autumn, the government said. It also said the new licences could be offered close to already licensed areas to unlock oil and gas reserves faster thanks to existing infrastructure and previous assessments. It has pledged to stop new oil and gas exploration licences in the North Sea.

Persons: Rishi Sunak, Sunak, Sachin Ravikumar, Sarah Young, Kate Holton Organizations: Sunak's Conservatives, Labour Party, Thomson Locations: Britain, Scotland, England, North

☆ Cramer's Lightning Round: Zimmer Biomet is a buy
▼ + stars: | 2023-07-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Zimmer Biomet's year-to-date stock performance. Zimmer Biomet : "Turn on the jets, I say buy, buy, buy ZBH." Stock Chart Icon Stock chart icon Vital Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon HighPeak Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Activision Blizzard's year-to-date stock performance.

Persons: Zimmer, Zimmer Biomet, Vital, HighPeak Organizations: Vital Energy, HighPeak, Energy, Activision

☆ Lightning Round: I am a believer in Highpeak Energy, says Jim Cramer
▼ + stars: | 2023-07-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I am a believer in Highpeak Energy, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Zimmer Biometric Holdings, Vital Energy, Highpeak Energy and Activision.

Persons: Jim Cramer Organizations: Energy, Zimmer, Holdings, Vital Energy, Highpeak Energy, Activision

☆ TipRanks reveals the top 10 Wall Street basic materials sector analysts
▼ + stars: | 2023-07-02 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

TipRanks recognized the 10 best analysts in the basic materials sector who delivered noteworthy returns and whose recommendations outperformed their peers. In the process, it analyzed every recommendation by analysts in the basic materials sector over the past 10 years. Then, TipRanks' algorithms calculated the statistical significance of each rating, analysts' overall success rate and the average return. Top 10 analysts from the basic materials sectorThe image below shows the most successful Wall Street analysts from the basic materials sector. T J Schultz — RBC CapitalT J Schultz has the 10th spot on the list, with a success rate of 63%.

Persons: Rafael Henrique, Lightrocket, TipRanks, Dan Payne, Bank Dan Payne, Payne, Leo Mariani — Roth MKM Leo Mariani, John Freeman — Raymond James Raymond James, John Freeman, Freeman, Poe Fratt, Global Partners Poe, Elvira Scotto —, Elvira Scotto, Vincent Lovaglio, Scott Hanold, Michael Harvey —, Michael Harvey, Harvey, Dalton Baretto, Canaccord Genuity Dalton Baretto, T J Schultz —, J Schultz Organizations: Bank, Birchcliff Energy, Resources, Vital Energy, Global Partners, Elvira Scotto — RBC, Crestwood Equity Partners, Mizuho Securities, Comstock Resources, RBC Capital RBC Capital, Matador Resources, Michael Harvey — RBC Capital, RBC Capital, Seven Generations Energy, Generations Energy, ARC Resources, T J Schultz — RBC, Targa Resources Locations: Canada

☆ 5 ways Russia's been sidestepping Western sanctions and keeping its economy alive, from switching to the Chinese yuan and dabbling in ghost trades
▼ + stars: | 2023-05-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

A fleet of aging oil tankers that do not turn on their tracking signals is suspected of secretly transporting sanctioned Russian oil globally. Russia has also put together a "shadow fleet" of more than 100 oil tankers to skirt the sanctions, the FT reported in December. By August, such gray market sales reached nearly $6.5 billion, said Denis Manturov, the Russian trade and industry minister, according to an Interfax report. Russian oil is still getting into Western countries, thanks to intermediaries. Western nations that banned Russian oil have collectively imported nearly $46 billion worth of Russian oil products, according to a study by the Centre for Research on Energy and Clean Air, or CREA, published in April.

☆ Oil giant Shell posts highest-ever annual profit of $40 billion
▼ + stars: | 2023-02-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia's full-scale invasion of Ukraine last year. Shell reported adjusted earnings of $39.9 billion for the full-year 2022. This comfortably surpasses the $28.4 billion in 2008 which Shell said was the firm's previous annual record and is more than double the firm's full-year 2021 profit of $19.29 billion. Analysts polled by Refinitiv had expected full-year 2022 net profit to come in at $38.3 billion. For the final quarter of 2022, Shell reported adjusted earnings of $9.8 billion.

☆ Russian gas will eventually return to Europe as nations 'forgive and forget,' Qatari energy minister says
▼ + stars: | 2023-01-16 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

On Friday, Russian energy supplier Gazprom said it would not resume its supply of natural gas to Germany through the key Nord Stream 1 pipeline, blaming a malfunctioning turbine. Hannibal Hanschke | ReutersThe European Union's rejection of Russian energy commodities following Moscow's invasion of Ukraine won't last forever, Qatar's Energy Minister said during an energy conference over the weekend. EU countries have dramatically cut down their imports of Russian energy supplies, imposing sanctions in response to Moscow's brutal, full-scale invasion of Ukraine. "But Russian gas is going back, in my view, to Europe," al-Kaabi said. Italy has dramatically reduced its reliance on Russian gas by replacing it with energy sources from alternative producers, such as Algeria.

KYIV, Jan 14 (Reuters) - Russian missile attacks hit critical infrastructure in Kyiv and the eastern city of Kharkiv on Saturday morning, officials said, and the governor of another region warned that a massive missile strike could follow in the coming hours. Russia, which invaded last February, has been pounding Ukraine's vital energy infrastructure with missiles and drones since October, causing sweeping blackouts and disruptions to central heating and running water as winter bites. "Missile attack on critical infrastructure facilities. The attacks hit critical energy infrastructure and industrial facilities in the Kharkiv and Chuhuev district of the region, he said. Residential infrastructure was also hit in the village of Kopyliv in the Kyiv region just outside the capital.

☆ Column: U.S. LNG exports both a lifeline and a drain for Europe in 2023
▼ + stars: | 2022-12-20 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Dec 20 (Reuters) - Record liquefied natural gas (LNG) exports from the United States helped soften the blow to Europe from sharply lower Russian pipelined natural gas supplies in 2022, and will remain a vital energy source for the continent in 2023. But the surging cost of U.S. LNG supplies - which have roughly doubled since late 2021 - look set to come under closer scrutiny in 2023 as governments, utilities and households across Europe move to mend tattered budgets. The United States looks set to remain Europe's top LNG seller in 2023 as U.S. LNG exporters have greater volumes of LNG available for spot market purchases than other major exporters like Qatar, and as additional U.S. export capacity comes on line. LNG export flows by continent by top three global LNG exportersU.S. exporters also enjoy a significant freight cost advantage over Australia and Qatar - the world's largest overall LNG exporters. This means that the United States will remain the primary supplier of LNG to Europe for at least 2023.

☆ The US doesn't have to worry about China repeating its mistakes in the Middle East
▼ + stars: | 2022-12-20 | by ( Natalie Armbruster | Defense Priorities | ) www.businessinsider.com time to read: +6 min

It was seen as a message to the US, but it's a mistake to think China has the same ambitions in the Middle East as the US. China has long assessed US involvement in the Middle East to be damaging to American power and strength. The first thing to know is China's involvement in the Middle East rests primarily on its energy dependence. Taking sides among adversaries in the Middle East would only limit China's trading partners and opportunities for mutual economic interest. The reality is that no matter China's view of the Middle East, the potential benefits that China could garner from its investments in the Middle East are not significant nor threatening enough to US interests to warrant the current level of worry.

☆ Iran leader says 'enemies' may target workers as protests rage
▼ + stars: | 2022-11-19 | by ( ) www.reuters.com time to read: +2 min

One of the boldest challenges to Iran's clerical leaders in decades, the protests have been gaining steam, frustrating authorities who have blamed Iran's foreign enemies and their agents for orchestrating the disturbances. But the enemies have a new trick every day, and with today's defeat, they may target different classes such as workers and women," state television quoted Khamenei as saying. Protests spread into the vital energy sector last month but demonstrations by workers, which have partly addressed demands linked to pay and working conditions, have been limited. In 1979, a combination of mass protests and strikes by oil workers and bazaar merchants helped to sweep the clergy to power in Iran's Islamic revolution. HRANA said 402 protesters had been killed in the unrest as of Friday, including 58 minors.

☆ Germany Nationalizes Gazprom’s German Business to Secure Energy Supply
▼ + stars: | 2022-11-14 | by ( Bojan Pancevski | ) www.wsj.com time to read: 1 min

BERLIN—Germany will nationalize key German and European arms of Russian natural gas giant Gazprom PJSC and spend more than 13 billion euros, equivalent to $13.44 billion, to shore up the business in a bid to guarantee energy supplies, the German government said Monday. Berlin in March assumed management of the assets of Gazprom Germania GmbH, changing the company’s name to Securing Energy for Europe GmbH or SEFE. The government said it had to secure vital energy infrastructure and supplies in the early days of Moscow’s invasion of Ukraine.

☆ Kremlin: Considering 'further steps' over allegation Britain attacked Nord Stream gas pipelines
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Nord Stream is seen at the headquarters of Nord Stream AG in Zug, Switzerland March 1, 2022. Russia's defence ministry said on Saturday that British navy personnel had blown up the Nord Stream pipelines in September, an assertion that London said was false and designed to distract from Russian military failures in Ukraine. "There is evidence that Britain is involved in sabotage ... a terrorist act against vital energy infrastructure," Kremlin spokesman Dmitry Peskov told reporters. The Kremlin has not provided evidence to support its claims Britain was behind the ruptures on the Nord Stream pipelines, which have threatened to put the multi-billion dollar gas link permanently out of use. Peskov said the Kremlin was awaiting for an expert assessment of the damage and that no decisions had yet been taken on the future of Nord Stream 1 or Nord Stream 2.

☆ Iranian protesters defy crackdown with nationwide demonstrations
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +5 min

Protests were also reported in Isfahan, in central Iran, and in the southeast of the country. The Tehran commander of the Basij militia forces that have deployed against protesters said in Tehran that three Basij had been killed and 850 more injured. "So many years of crimes, death to this religious leadership", they chanted, according to a video posted on social media. Iran's foreign minister spoke on Friday with the European Union's top diplomat Josep Borrell, who urged Tehran to stop the repression of protesters. In a phone call, Hossein Amirabdollahian told Borrell Iran allowed peaceful protests and its government enjoyed popular support, state media said.

☆ Iran protests over woman's death persist despite crackdown, oil workers strike
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterAt least 185 people, including 19 minors, have been killed, hundreds injured and thousands have been arrested by security forces, according to rights groups. The Iranian government says more than 20 security forces have been killed. Iranian authorities have said they will investigate civilian deaths. Governor Ali Hashemi said some Iranians tried to hijack the workers' protests by chanting anti-government slogans, according to Iran’s Young Journalists Club News (YJC) telegram account. The Hengaw human rights group said on Monday security forces fired towards residences in the Kurdish city of Sanandaj.

☆ Iran protests over woman's death persist despite crackdown
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +5 min

At least 185 people, including 19 minors, have been killed, hundreds injured and thousands have been arrested by the security forces, according to rights groups. The government says more than 20 members of the security forces have been killed. The Hengaw human rights group said on Monday security forces had fired towards residences in the Kurdish city of Sanandaj. Interior Minister Ahmad Vahidi reiterated accusations that Iranian Kurdish dissident groups were supporting the protests and said security forces would "neutralize the desperate anti-revolutionary effort". Governor Ali Hashemi said some Iranians had tried to hijack the workers' protests by chanting anti-government slogans, according to Iran’s Young Journalists Club News (YJC) Telegram account.

☆ Elon Musk says shutting down nuclear power plants is 'insane' for national security and 'anti-human'
▼ + stars: | 2022-08-27 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Elon Musk called some environmentalists "anti-human" for shutting nuclear power plants. Nuclear energy is back in the spotlight as energy insecurity grows after Russia invaded Ukraine. You should not only not shut down the nuclear power plants, but you should also reopen the ones that have already shut down. It is crazy to shut down nuclear power plants now, especially if you are in a place where there are no natural disasters." If there is no massive natural disaster risk, which Germany does not have, then there is really no danger with the nuclear power plants."

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