1 month ago
Andrew Jones, vice president of the Noah’s Ark Research Project, told Fox News Digital about the project’s latest field season at Turkey’s Durupınar formation, where researchers collected more than 300 soil samples and conducted deep-core drilling.
A team investigating a boat-shaped formation in eastern Turkey says new evidence is strengthening its case that the site could hold the remains of Noah's Ark.
"In archaeology, you deal with probabilities, and we're inching towards where we believe we will have confirmation this winter after our soil ******* ysis is done with Sivas University, who's our partner in this," Noah's Ark Scans founder Andrew Jones told "Saturday in America."
The focus of the investigation is the Durupınar formation, an approximately 538-foot-long geological structure near Mount Ararat. Its shape and proximity to the region identified in the biblical account have fascinated Ark hunters for decades.
The boat-shaped formation was first discovered in 1959 and has long-drawn speculation over a possible connection to Noah's Ark.
#turkey
A team investigating a boat-shaped formation in eastern Turkey says new evidence is strengthening its case that the site could hold the remains of Noah's Ark.
"In archaeology, you deal with probabilities, and we're inching towards where we believe we will have confirmation this winter after our soil ******* ysis is done with Sivas University, who's our partner in this," Noah's Ark Scans founder Andrew Jones told "Saturday in America."
The focus of the investigation is the Durupınar formation, an approximately 538-foot-long geological structure near Mount Ararat. Its shape and proximity to the region identified in the biblical account have fascinated Ark hunters for decades.
The boat-shaped formation was first discovered in 1959 and has long-drawn speculation over a possible connection to Noah's Ark.
#turkey
2 months ago
Transocean Ltd. (NYSE:RIG) received a boost on September 15 when the company announced that it had secured an approximately $80 million contract for its Deepwater Conqueror ultra-deepwater drillship in Equatorial Guinea. The estimated 170-day campaign with an undisclosed operator is expected to begin next year, directly following the rig's current contract in the US Gulf.
Built in 2016, the DSME 12000-design Deepwater Conqueror can operate in water depths of up to 12,000 feet and drill to a maximum depth of 40,000 feet.
The $80 million award provides Transocean with additional contract revenue and improves visibility into the company's future revenue base. If the award includes attractive day rates and limited mobilization costs, it could contribute positively to operating margins and cash flows. The company's backlog stood at approximately $6.7 billion as of August 5, 2026.
The contract could also improve the utilization of its high-value drilling rig. Since ultra-deepwater rigs require substantial investment, securing work for an idle or underutilized rig could help spread fixed operating costs over a larger revenue base. Deepwater Conqueror will move directly from its US Gulf contract to Equatorial Guinea, avoiding a gap between the two programs.
The latest award also provides Transocean with an alternative destination for its rigs. The company had already signaled in its Q2 earnings call that the growing demand for new deepwater contracts in Africa would also help offset a decline in awards in the US Gulf.
#deepwater #contract #gulf #equatorial
Built in 2016, the DSME 12000-design Deepwater Conqueror can operate in water depths of up to 12,000 feet and drill to a maximum depth of 40,000 feet.
The $80 million award provides Transocean with additional contract revenue and improves visibility into the company's future revenue base. If the award includes attractive day rates and limited mobilization costs, it could contribute positively to operating margins and cash flows. The company's backlog stood at approximately $6.7 billion as of August 5, 2026.
The contract could also improve the utilization of its high-value drilling rig. Since ultra-deepwater rigs require substantial investment, securing work for an idle or underutilized rig could help spread fixed operating costs over a larger revenue base. Deepwater Conqueror will move directly from its US Gulf contract to Equatorial Guinea, avoiding a gap between the two programs.
The latest award also provides Transocean with an alternative destination for its rigs. The company had already signaled in its Q2 earnings call that the growing demand for new deepwater contracts in Africa would also help offset a decline in awards in the US Gulf.
#deepwater #contract #gulf #equatorial
2 months ago
On August 6, APA Corporation (NASDAQ:APA) held its second-quarter earnings call, and one number stood out from the rest. The oil and gas producer is now holding its Permian oil production steady with four drilling rigs, half the eight it once estimated it would need. Adjusted production of 347,000 barrels of oil equivalent per day beat management's own guidance, free cash flow kept climbing, and the balance sheet is healing faster than planned. That combination is the story of the quarter.
APA raised its full-year US oil guidance to 123,000 barrels per day, up from an original 120,000, while holding its capital budget at $1.3 billion despite higher diesel and other input costs. Management also lifted its cost-savings target to $500 million in annualized run-rate savings by year-end, up from the $450 million goal it set at the start of the year.
That flexibility is showing up in cash flow. Free cash flow hit $738 million in the second quarter, pushing the first half of 2026 past $1.2 billion, which topped what APA generated in each of the past three full years. The company returned $189 million of that to shareholders through dividends and the repurchase of 2.8 million shares at an average price of $35.26, continuing a streak of returning at least 60% of free cash flow to investors every year since 2021.
The balance sheet is moving just as fast. Net debt stood at $3.3 billion at quarter-end after APA repaid $752 million of bonds in the first half, including $673 million in the second quarter alone, cutting total debt by $2.3 billion since the end of 2024 and lowering annualized interest expense by roughly $175 million. Management now expects to hit its $3 billion net debt target in 2027, well ahead of the three- to four-year window it laid out when the goal was first announced.
Further out, APA is building option value beyond its core Permian and Egypt ****** ets. It agreed to acquire Savant Alaska for $70 million, picking up an airstrip, a dock, and a pipeline connection into the Trans Alaska system to support two exploration wells planned for 2027. In Uruguay, ENI signed on as a partner in Block 6, funding a significant share of the first exploration well while APA keeps 60% ownership. In Suriname, the GranMorgu project remains on budget for first oil in mid-2028.
#billion
APA raised its full-year US oil guidance to 123,000 barrels per day, up from an original 120,000, while holding its capital budget at $1.3 billion despite higher diesel and other input costs. Management also lifted its cost-savings target to $500 million in annualized run-rate savings by year-end, up from the $450 million goal it set at the start of the year.
That flexibility is showing up in cash flow. Free cash flow hit $738 million in the second quarter, pushing the first half of 2026 past $1.2 billion, which topped what APA generated in each of the past three full years. The company returned $189 million of that to shareholders through dividends and the repurchase of 2.8 million shares at an average price of $35.26, continuing a streak of returning at least 60% of free cash flow to investors every year since 2021.
The balance sheet is moving just as fast. Net debt stood at $3.3 billion at quarter-end after APA repaid $752 million of bonds in the first half, including $673 million in the second quarter alone, cutting total debt by $2.3 billion since the end of 2024 and lowering annualized interest expense by roughly $175 million. Management now expects to hit its $3 billion net debt target in 2027, well ahead of the three- to four-year window it laid out when the goal was first announced.
Further out, APA is building option value beyond its core Permian and Egypt ****** ets. It agreed to acquire Savant Alaska for $70 million, picking up an airstrip, a dock, and a pipeline connection into the Trans Alaska system to support two exploration wells planned for 2027. In Uruguay, ENI signed on as a partner in Block 6, funding a significant share of the first exploration well while APA keeps 60% ownership. In Suriname, the GranMorgu project remains on budget for first oil in mid-2028.
#billion
2 months ago
Guardian Metal Resources PLC (NYSEAMERICAN:GMTL) reported its first Good Hope drilling results on September 14, adding exploration potential to the Pilot Mountain tungsten project in Nevada. Hole GH26-01 returned a 12.95-meter downhole interval grading 0.79% tungsten trioxide, or WO3, starting at 12.19 meters. GH26-02 intersected 13.11 meters at 0.42% WO3 from 2.13 meters.
The holes were twinned, with GH26-02 redrilling the upper portion where core had not been recovered. Good Hope and the separate Tremor discovery remain outside the resource base supporting the existing pre-feasibility study. The investment question is whether additional mineralization can improve project returns without slowing development.
Shallow mineralization offers a potential route to additional feed that could be accessible early in a future mining sequence. Good Hope sits approximately 1.1 to 1.3 kilometers from the existing resource areas, making its possible integration worth evaluating alongside the planned operation.
The June pre-feasibility study models an eight-year open-pit operation based on Desert Scheelite and Garnet. If further work establishes economic resources at Good Hope or Tremor, additional feed could extend that operating life or improve the sequence in which material reaches the processing plant.
For Guardian Metal Resources PLC (NYSEAMERICAN:GMTL), the potential benefit is better use of infrastructure already contemplated for Pilot Mountain. That would depend on recoverable metal, processing compatibility, and the additional capital required to bring the new zones into production.
#hope #resources #guardian
The holes were twinned, with GH26-02 redrilling the upper portion where core had not been recovered. Good Hope and the separate Tremor discovery remain outside the resource base supporting the existing pre-feasibility study. The investment question is whether additional mineralization can improve project returns without slowing development.
Shallow mineralization offers a potential route to additional feed that could be accessible early in a future mining sequence. Good Hope sits approximately 1.1 to 1.3 kilometers from the existing resource areas, making its possible integration worth evaluating alongside the planned operation.
The June pre-feasibility study models an eight-year open-pit operation based on Desert Scheelite and Garnet. If further work establishes economic resources at Good Hope or Tremor, additional feed could extend that operating life or improve the sequence in which material reaches the processing plant.
For Guardian Metal Resources PLC (NYSEAMERICAN:GMTL), the potential benefit is better use of infrastructure already contemplated for Pilot Mountain. That would depend on recoverable metal, processing compatibility, and the additional capital required to bring the new zones into production.
#hope #resources #guardian
2 months ago
WEST HAVEN – Cheshire senior kicker Tim Reinhard was feeling good in warm-ups, drilling kicks through the uprights from 50 yards away. Reinhard felt he would get his opportunity during the game.
Reinhard came through, capping a furious second half rally by the Rams, when he nailed a 44-yard field goal with 1 minute, 55 seconds remaining in the fourth quarter to lift Cheshire football to a 15-13 victory over West Haven in a Southern Connecticut Conference contest at Ken Strong Stadium in West Haven Friday evening.
"I'm so grateful to have a team to put me in a position to go help win a game," Reinhard said. "Nothing is possible without my team helping me."
After trailing 13-0 at the half and accumulating less than 20 yards of offense in the first half, Cheshire turned the game around in the third quarter by taking advantage of two West Haven miscues.
On West Haven's first offensive snap of the third quarter, the ball sailed out of the end zone for a Cheshire safety. The Rams then marched 44 yards in six plays and got within 13-10 on a Michael Chopak 15-yard touchdown run, and the conversion run by Shane Jerome.
#quarter
Reinhard came through, capping a furious second half rally by the Rams, when he nailed a 44-yard field goal with 1 minute, 55 seconds remaining in the fourth quarter to lift Cheshire football to a 15-13 victory over West Haven in a Southern Connecticut Conference contest at Ken Strong Stadium in West Haven Friday evening.
"I'm so grateful to have a team to put me in a position to go help win a game," Reinhard said. "Nothing is possible without my team helping me."
After trailing 13-0 at the half and accumulating less than 20 yards of offense in the first half, Cheshire turned the game around in the third quarter by taking advantage of two West Haven miscues.
On West Haven's first offensive snap of the third quarter, the ball sailed out of the end zone for a Cheshire safety. The Rams then marched 44 yards in six plays and got within 13-10 on a Michael Chopak 15-yard touchdown run, and the conversion run by Shane Jerome.
#quarter
2 months ago
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported on September 7 that it averaged 101 revenue-earning drilling rigs in the United States during August and 100 over the two months ended August 31.
The count measures rigs earning revenue under drilling contracts. The announcement provided no day rates, contract duration, utilization by rig class, or margins. Management explicitly cautioned that rig-count trends alone may not indicate financial performance.
For investors, the update supplies evidence that customers are putting equipment to work. Whether that activity produces better returns depends on the revenue earned and costs incurred for each contracted rig.
The two-month average is consistent with management's earlier outlook for approximately 100 U.S. rigs in the third quarter, compared with 92 in the second quarter. That supports an activity recovery from the prior quarter, although September will determine the final quarterly average.
There is also pricing evidence outside the monthly release. In its July 29 results, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) said recently awarded term contracts carried approximately 10% to 15% higher pricing than levels at the start of the year. Management attributed that improvement to higher demand and customer interest in structural rig upgrades. Those increases applied to recently awarded contracts, rather than the entire fleet.
#rigs #energy #pten
The count measures rigs earning revenue under drilling contracts. The announcement provided no day rates, contract duration, utilization by rig class, or margins. Management explicitly cautioned that rig-count trends alone may not indicate financial performance.
For investors, the update supplies evidence that customers are putting equipment to work. Whether that activity produces better returns depends on the revenue earned and costs incurred for each contracted rig.
The two-month average is consistent with management's earlier outlook for approximately 100 U.S. rigs in the third quarter, compared with 92 in the second quarter. That supports an activity recovery from the prior quarter, although September will determine the final quarterly average.
There is also pricing evidence outside the monthly release. In its July 29 results, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) said recently awarded term contracts carried approximately 10% to 15% higher pricing than levels at the start of the year. Management attributed that improvement to higher demand and customer interest in structural rig upgrades. Those increases applied to recently awarded contracts, rather than the entire fleet.
#rigs #energy #pten
2 months ago
US natural gas production is projected to reach a record high of 111.7 billion cubic feet per day (bcfd) in 2026, up from 107.6 bcfd in 2025, according to the U.S. Energy Information Administration (EIA). By 2027, domestic supply is expected to hit 115.9 bcfd.
But that's only half the story.
Over the next two years, US natural gas supply and demand will both rise to record levels, the EIA states in its Short-Term Energy Outlook.
Domestic gas consumption is projected to rise from a record 91.9 bcfd in 2025 to 111.7 bcfd in 2026 and 115.9 bcfd in 2027.
The agency said increased drilling efficiency, rising electricity demand, and expanding liquefied natural gas (LNG) export capacity continue to drive production despite selective capital spending by producers.
#bcfd #record #production #demand
But that's only half the story.
Over the next two years, US natural gas supply and demand will both rise to record levels, the EIA states in its Short-Term Energy Outlook.
Domestic gas consumption is projected to rise from a record 91.9 bcfd in 2025 to 111.7 bcfd in 2026 and 115.9 bcfd in 2027.
The agency said increased drilling efficiency, rising electricity demand, and expanding liquefied natural gas (LNG) export capacity continue to drive production despite selective capital spending by producers.
#bcfd #record #production #demand
2 months ago
Comstock Resources, Inc. (NYSE:CRK) signed a nonbinding letter of intent under which SOCAR would pay $1.65 billion in cash, subject to customary adjustments. SOCAR would acquire non-operated working interests representing 20% of the Legacy Haynesville and 15% of the Western Haynesville upstream interests held by Comstock Resources, Inc. (NYSE:CRK). SOCAR would also acquire 15% of the 73% ownership interest held by Comstock Resources, Inc. (NYSE:CRK) in Pinnacle Gas Services.
The letter of intent requires good-faith negotiations but does not obligate completion. The parties are targeting a definitive agreement by October 31, 2026, and closing by year-end, subject to negotiations, approvals, and customary conditions.
Separately, a Jerry Jones family partnership will fund 85% of the drilling and completion costs for 18 Western Haynesville wells and 80% for nine Legacy Haynesville wells. The total 27-well program is expected to cost approximately $450 million over 12 months. After a 15% return on investment, 50% of the interest covered by the venture will revert to Comstock Resources, Inc. (NYSE:CRK).
If the SOCAR transaction closes, Comstock Resources, Inc. (NYSE:CRK) estimates that the proceeds would reduce company-defined non-GAAP net debt from $3.1 billion to $1.5 billion as of June 30, 2026. Net debt is calculated as total debt less cash and cash equivalents. The approximately $1.6 billion reduction would nearly halve the measure and could improve financial flexibility.
The drilling venture allows development to continue without equivalent near-term cash funding. Following completion of the SOCAR transaction, Comstock Resources, Inc. (NYSE:CRK) would retain operatorship of the upstream ****** ets and control of Pinnacle Gas Services. Drilling should provide volumes to Pinnacle and help delineate the 545,000 net acres in the Western Haynesville.
#SOCAR
The letter of intent requires good-faith negotiations but does not obligate completion. The parties are targeting a definitive agreement by October 31, 2026, and closing by year-end, subject to negotiations, approvals, and customary conditions.
Separately, a Jerry Jones family partnership will fund 85% of the drilling and completion costs for 18 Western Haynesville wells and 80% for nine Legacy Haynesville wells. The total 27-well program is expected to cost approximately $450 million over 12 months. After a 15% return on investment, 50% of the interest covered by the venture will revert to Comstock Resources, Inc. (NYSE:CRK).
If the SOCAR transaction closes, Comstock Resources, Inc. (NYSE:CRK) estimates that the proceeds would reduce company-defined non-GAAP net debt from $3.1 billion to $1.5 billion as of June 30, 2026. Net debt is calculated as total debt less cash and cash equivalents. The approximately $1.6 billion reduction would nearly halve the measure and could improve financial flexibility.
The drilling venture allows development to continue without equivalent near-term cash funding. Following completion of the SOCAR transaction, Comstock Resources, Inc. (NYSE:CRK) would retain operatorship of the upstream ****** ets and control of Pinnacle Gas Services. Drilling should provide volumes to Pinnacle and help delineate the 545,000 net acres in the Western Haynesville.
#SOCAR
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2 months ago
Moerus Capital Management LLC, an investment management firm, recently released its "Worldwide Fund " second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The fund navigated a highly bifurcated investment environment in the second quarter of 2026, as investor enthusiasm for artificial intelligence and technology drove a sharp rally in growth stocks while capital moved away from more traditional, value-oriented areas. The Fund's Institutional Class returned 0.14% in Q2, compared with 14.49% for the MSCI ACWI ex USA and 14.93% for the MSCI ACWI, while its first-half return stood at 5.37%, versus 13.69% and 11.25%, respectively, for the two benchmarks. The relative underperformance was primarily driven by the Fund's limited exposure to Information Technology as semiconductor and AI-related stocks surged, while its Energy holdings also gave back some earlier gains as oil prices declined; however, the Fund benefited from several energy-related investments during the first half. Looking ahead, Moerus views the extreme gap between expensive AI-focused areas and neglected parts of the market as an opportunity, maintaining its long-term deep-value approach of investing in unpopular businesses and ******* ets at significant discounts to intrinsic value and using market volatility to identify potentially attractive investments. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Moerus Worldwide Fund highlighted stocks like Transocean Ltd. (NYSE:RIG) while discussing its investment in Valaris. Transocean Ltd. is an offshore drilling contractor. Moerus discussed the company in connection with its agreement to acquire Valaris in an all-stock transaction, which it said helped surface significant latent value in Valaris. The one-month return of Transocean Ltd. (NYSE:RIG) was 2.53% while its shares traded between $3.01 and $7.66 over the last 52 weeks. On September 7, 2026, Transocean Ltd. (NYSE:RIG) stock closed at approximately $5.85 per share, with a market capitalization of about $6.56 billion.
Moerus Worldwide Fund stated the following regarding Transocean Ltd. (NYSE:RIG) in its Q2 2026 investor letter:
"Shares of this U.S.-based provider of offshore drilling services surged in response to the February 9th announcement that the company had agreed to be acquired by Transocean Ltd. (NYSE:RIG) in an all-stock transaction, which was priced at a roughly 32% premium to Valaris' stock price (based on the previous day's closing price of each stock)."
#valaris
In its second-quarter 2026 investor letter, Moerus Worldwide Fund highlighted stocks like Transocean Ltd. (NYSE:RIG) while discussing its investment in Valaris. Transocean Ltd. is an offshore drilling contractor. Moerus discussed the company in connection with its agreement to acquire Valaris in an all-stock transaction, which it said helped surface significant latent value in Valaris. The one-month return of Transocean Ltd. (NYSE:RIG) was 2.53% while its shares traded between $3.01 and $7.66 over the last 52 weeks. On September 7, 2026, Transocean Ltd. (NYSE:RIG) stock closed at approximately $5.85 per share, with a market capitalization of about $6.56 billion.
Moerus Worldwide Fund stated the following regarding Transocean Ltd. (NYSE:RIG) in its Q2 2026 investor letter:
"Shares of this U.S.-based provider of offshore drilling services surged in response to the February 9th announcement that the company had agreed to be acquired by Transocean Ltd. (NYSE:RIG) in an all-stock transaction, which was priced at a roughly 32% premium to Valaris' stock price (based on the previous day's closing price of each stock)."
#valaris
2 months ago
Moerus Capital Management LLC, an investment management firm, recently released its "Worldwide Fund " second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The fund navigated a highly bifurcated investment environment in the second quarter of 2026, as investor enthusiasm for artificial intelligence and technology drove a sharp rally in growth stocks while capital moved away from more traditional, value-oriented areas. The Fund's Institutional Class returned 0.14% in Q2, compared with 14.49% for the MSCI ACWI ex USA and 14.93% for the MSCI ACWI, while its first-half return stood at 5.37%, versus 13.69% and 11.25%, respectively, for the two benchmarks. The relative underperformance was primarily driven by the Fund's limited exposure to Information Technology as semiconductor and AI-related stocks surged, while its Energy holdings also gave back some earlier gains as oil prices declined; however, the Fund benefited from several energy-related investments during the first half. Looking ahead, Moerus views the extreme gap between expensive AI-focused areas and neglected parts of the market as an opportunity, maintaining its long-term deep-value approach of investing in unpopular businesses and ****** ets at significant discounts to intrinsic value and using market volatility to identify potentially attractive investments. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Moerus Worldwide Fund highlighted stocks like Valaris Limited (NYSE:VAL). Valaris Limited is a U.S.-based provider of offshore drilling services. Moerus described Valaris as its largest individual contributor to performance in the first half of 2026. The one-month return of Valaris Limited (NYSE:VAL) was 1.62% while its shares traded between $46.70 and $114.12 over the last 52 weeks. On September 7, 2026, Valaris Limited (NYSE:VAL) stock closed at approximately $86.74 per share, with a market capitalization of about $6.03 billion.
Moerus Worldwide Fund stated the following regarding Valaris Limited (NYSE:VAL) in its Q2 2026 investor letter:
"For example, consider Valaris Limited (NYSE:VAL), the largest individual contributor to performance in H1. Shares of this U.S.-based provider of offshore drilling services surged in response to the February 9th announcement that the company had agreed to be acquired by Transocean in an all-stock transaction, which was priced at a roughly 32% premium to Valaris' stock price (based on the previous day's closing price of each stock). Valaris was added to the Fund in early 2025 following a slide in its share price, amid then-subdued oil prices and what we believed to be a temporary lull in offshore drilling activity caused by support infrastructure constraints (among other factors)."
#worldwide #Stock
In its second-quarter 2026 investor letter, Moerus Worldwide Fund highlighted stocks like Valaris Limited (NYSE:VAL). Valaris Limited is a U.S.-based provider of offshore drilling services. Moerus described Valaris as its largest individual contributor to performance in the first half of 2026. The one-month return of Valaris Limited (NYSE:VAL) was 1.62% while its shares traded between $46.70 and $114.12 over the last 52 weeks. On September 7, 2026, Valaris Limited (NYSE:VAL) stock closed at approximately $86.74 per share, with a market capitalization of about $6.03 billion.
Moerus Worldwide Fund stated the following regarding Valaris Limited (NYSE:VAL) in its Q2 2026 investor letter:
"For example, consider Valaris Limited (NYSE:VAL), the largest individual contributor to performance in H1. Shares of this U.S.-based provider of offshore drilling services surged in response to the February 9th announcement that the company had agreed to be acquired by Transocean in an all-stock transaction, which was priced at a roughly 32% premium to Valaris' stock price (based on the previous day's closing price of each stock). Valaris was added to the Fund in early 2025 following a slide in its share price, amid then-subdued oil prices and what we believed to be a temporary lull in offshore drilling activity caused by support infrastructure constraints (among other factors)."
#worldwide #Stock
2 months ago
On August 13, enCore Energy (NASDAQ:EU) reported financial and operating results for the six months ended June 30, and the numbers pull in two directions at once. The uranium miner delivered more pounds at higher prices than a year earlier, yet its net loss per share widened to $0.19 from $0.16. Underneath that headline sits a company racing to bring new wellfields online just as its current ones cost more to run than the uranium they produce is worth.
enCore delivered 485,000 pounds of U3O8 into contracts during the first half of 2026, up from 350,000 pounds a year earlier, at an average sales price of $70.10 per pound versus $62.58 in 2025. Both volume and price moved in the right direction, a sign that demand from utilities has not slowed even as the company's own production has. The bigger story sits in the ground. On June 22, enCore announced that its Dewey Burdock project in South Dakota received a 20-year renewal of its Source Materials License, extending the permit to June 2046, after the Bureau of Land Management cleared the company to begin infrastructure construction.
That milestone means Dewey Burdock now holds every federal permit it needs, leaving only a state review that began June 15. Closer to production, enCore expects final permits at its Alta Mesa Wellfield 3 Extension and at the Upper Spring Creek wellfield in the fourth quarter of 2026, both already built and waiting on paperwork rather than construction. Drilling at Alta Mesa East continued with three to five rigs through the quarter, and management says results have met or exceeded expectations. Add a July 2026 workforce reduction meant to lower costs starting in the third quarter, and the pieces for a stronger second half are at least on the table.
The production side tells a different story. enCore extracted just 131,274 pounds of U3O8 in the first half of 2026, down from 317,613 pounds a year earlier, a drop of more than half. Extraction costs rose to $57.36 per pound from $42.92, and once purchased pounds are folded in, the weighted average cost of delivered U3O8 climbed to $75.54 per pound, above the $70.10 per pound the company actually collected. That gap between what enCore pays to deliver uranium and what it earns selling it is at the center of the widened loss, which the company attributed to lower extraction and a fair value adjustment on its Verdera Energy Corp shares.
Alta Mesa's Wellfield 7 is also set to stop production in the third quarter of 2026 as it reaches natural depletion, removing supply before the newer wellfields are permitted to replace it. The near-term fixes aren't guaranteed on the timeline enCore has laid out either. Wellfield 8 permits are not expected until the end of the first quarter of 2027, and Dewey Burdock's state permitting process, still under review by South Dakota's Department of Agriculture & Natural Resources, has the company targeting development only in 2028.
#encore #pounds #quarter
enCore delivered 485,000 pounds of U3O8 into contracts during the first half of 2026, up from 350,000 pounds a year earlier, at an average sales price of $70.10 per pound versus $62.58 in 2025. Both volume and price moved in the right direction, a sign that demand from utilities has not slowed even as the company's own production has. The bigger story sits in the ground. On June 22, enCore announced that its Dewey Burdock project in South Dakota received a 20-year renewal of its Source Materials License, extending the permit to June 2046, after the Bureau of Land Management cleared the company to begin infrastructure construction.
That milestone means Dewey Burdock now holds every federal permit it needs, leaving only a state review that began June 15. Closer to production, enCore expects final permits at its Alta Mesa Wellfield 3 Extension and at the Upper Spring Creek wellfield in the fourth quarter of 2026, both already built and waiting on paperwork rather than construction. Drilling at Alta Mesa East continued with three to five rigs through the quarter, and management says results have met or exceeded expectations. Add a July 2026 workforce reduction meant to lower costs starting in the third quarter, and the pieces for a stronger second half are at least on the table.
The production side tells a different story. enCore extracted just 131,274 pounds of U3O8 in the first half of 2026, down from 317,613 pounds a year earlier, a drop of more than half. Extraction costs rose to $57.36 per pound from $42.92, and once purchased pounds are folded in, the weighted average cost of delivered U3O8 climbed to $75.54 per pound, above the $70.10 per pound the company actually collected. That gap between what enCore pays to deliver uranium and what it earns selling it is at the center of the widened loss, which the company attributed to lower extraction and a fair value adjustment on its Verdera Energy Corp shares.
Alta Mesa's Wellfield 7 is also set to stop production in the third quarter of 2026 as it reaches natural depletion, removing supply before the newer wellfields are permitted to replace it. The near-term fixes aren't guaranteed on the timeline enCore has laid out either. Wellfield 8 permits are not expected until the end of the first quarter of 2027, and Dewey Burdock's state permitting process, still under review by South Dakota's Department of Agriculture & Natural Resources, has the company targeting development only in 2028.
#encore #pounds #quarter
2 months ago
Arizona Diamondbacks shortstop Geraldo Perdomo left their matchup with the Houston Astros early on Sunday afternoon after he was struck in the helmet by a line drive.
Perdomo went down in the third inning of the contest at Daikin Park, shortly after he opened the frame with a single. Ketel Marte followed that up with a 93 mph single of his own, but the ball ended up drilling Perdomo directly in the helmet as he tried to run to second.
Perdomo fell back to the dirt and remained there for several minutes, clearly in a lot of pain, before he eventually left the field walking on his own. He did not return.
The Diamondbacks ruled Perdomo out with a head contusion. Further specifics of his injury are not yet known.
Perdomo entered Sunday's contest with a .250 batting average with 48 RBI and nine home runs this season, his sixth in the league. The Diamondbacks hold a 75-68 record and sit in second in the NL West race, just half of a game ahead of the San Diego Padres for the final wild-card spot.
#perdomo #diamondbacks #left #second
Perdomo went down in the third inning of the contest at Daikin Park, shortly after he opened the frame with a single. Ketel Marte followed that up with a 93 mph single of his own, but the ball ended up drilling Perdomo directly in the helmet as he tried to run to second.
Perdomo fell back to the dirt and remained there for several minutes, clearly in a lot of pain, before he eventually left the field walking on his own. He did not return.
The Diamondbacks ruled Perdomo out with a head contusion. Further specifics of his injury are not yet known.
Perdomo entered Sunday's contest with a .250 batting average with 48 RBI and nine home runs this season, his sixth in the league. The Diamondbacks hold a 75-68 record and sit in second in the NL West race, just half of a game ahead of the San Diego Padres for the final wild-card spot.
#perdomo #diamondbacks #left #second
2 months ago
On August 5, Magnolia Oil & Gas (NYSE:MGY) reported second-quarter results that more than doubled profits and cash generation from a year earlier, all while the company was in the middle of financing its biggest acquisition to date. Net income came in at $181.8 million, up 124% from $81 million, and diluted earnings per share climbed to $0.97 from $0.41. The jump traces back to a straightforward combination: stronger oil and NGL prices layered on top of steady production growth out of Giddings.
Adjusted EBITDAX reached $370.3 million for the quarter, and Magnolia spent just $125 million on drilling and completions, roughly 34% of that total. Keeping the reinvestment rate that low let free cash flow more than double year over year to $234.6 million, while the business converted revenue into operating income at a 50% pretax margin. Net cash from operations came in at $384 million, giving the company room to fund its plans without leaning hard on outside capital.
Production backed up the numbers. Total output rose 8% year over year to 106.1 Mboe/d, and oil volumes grew 5% to 41.9 Mbbls/d, both ahead of the company's own guidance. Giddings, the field doing most of the heavy lifting, grew production 10%, with oil volumes up 7%, strong enough that management raised full-year 2026 production growth guidance to 6% from 5%.
Shareholders also got a direct share of the improvement. Magnolia repurchased 1.7 million shares for $49.3 million during the quarter and raised its quarterly dividend 9% to $0.18 per share, which was payable to those who held shares as of an August 10 record date, representing an annualized $0.72. In total, the company returned $80.1 million, 34% of free cash flow, to shareholders. On July 20, Magnolia also agreed to acquire WildFire Energy. This deal will more than double its Giddings acreage and combine two complementary **** et bases into more than 1.25 million combined net acres, with drilling upside still ahead across multiple benches, among them the Woodbine, Eagle Ford, and Austin Chalk.
Paying for that acquisition isn't free. Magnolia is funding roughly half of the WildFire deal with debt and half with equity, issuing 53.3 million new shares that brought net proceeds of about $1.23 billion and adding $500 million of new debt through senior notes priced at 6.625% and maturing in 2034. Both transactions closed in the days after the quarter ended, on July 22 and August 5, meaning more shares outstanding and a new layer of fixed interest expense for a company that had just spent the quarter shrinking its own share count by 4%.
#cash #company
Adjusted EBITDAX reached $370.3 million for the quarter, and Magnolia spent just $125 million on drilling and completions, roughly 34% of that total. Keeping the reinvestment rate that low let free cash flow more than double year over year to $234.6 million, while the business converted revenue into operating income at a 50% pretax margin. Net cash from operations came in at $384 million, giving the company room to fund its plans without leaning hard on outside capital.
Production backed up the numbers. Total output rose 8% year over year to 106.1 Mboe/d, and oil volumes grew 5% to 41.9 Mbbls/d, both ahead of the company's own guidance. Giddings, the field doing most of the heavy lifting, grew production 10%, with oil volumes up 7%, strong enough that management raised full-year 2026 production growth guidance to 6% from 5%.
Shareholders also got a direct share of the improvement. Magnolia repurchased 1.7 million shares for $49.3 million during the quarter and raised its quarterly dividend 9% to $0.18 per share, which was payable to those who held shares as of an August 10 record date, representing an annualized $0.72. In total, the company returned $80.1 million, 34% of free cash flow, to shareholders. On July 20, Magnolia also agreed to acquire WildFire Energy. This deal will more than double its Giddings acreage and combine two complementary **** et bases into more than 1.25 million combined net acres, with drilling upside still ahead across multiple benches, among them the Woodbine, Eagle Ford, and Austin Chalk.
Paying for that acquisition isn't free. Magnolia is funding roughly half of the WildFire deal with debt and half with equity, issuing 53.3 million new shares that brought net proceeds of about $1.23 billion and adding $500 million of new debt through senior notes priced at 6.625% and maturing in 2034. Both transactions closed in the days after the quarter ended, on July 22 and August 5, meaning more shares outstanding and a new layer of fixed interest expense for a company that had just spent the quarter shrinking its own share count by 4%.
#cash #company
2 months ago
Lake Victoria Gold Ltd. (TSXV:LVG) (OTCQB:LVGLF) (FSE:E1K) reported high-grade, near-surface gold intercepts from drilling at its Imwelo Gold Project in Tanzania, adding new data to the company's ongoing work to refine the project's initial mining area and processing plans.
The latest drilling at Area C, the planned initial open-pit area, returned 28.71 grams per tonne (g/t) gold over 2.75 metres from 21 metres in hole IMWDR029. A second hole, IMWDR028, intersected 12.20 g/t gold over 4.50 metres from 32 metres.
Individual quartz-vein samples within those intervals returned much higher grades, including 142.90 g/t gold over 0.50 metres in IMWDR029 and 124.83 g/t over 0.40 metres in IMWDR028.
The results are from eight HQ diamond drill holes covering 225 metres across roughly 240 metres of strike in Area C. Four holes encountered voids **** ociated with historical artisanal mining, where parts of the shallow mineralized zone had already been removed.
The company said the drilling will help refine detailed mine planning and future grade-control work. Reported intercepts are down-hole lengths, and true widths have not yet been established.
#imwdr029
The latest drilling at Area C, the planned initial open-pit area, returned 28.71 grams per tonne (g/t) gold over 2.75 metres from 21 metres in hole IMWDR029. A second hole, IMWDR028, intersected 12.20 g/t gold over 4.50 metres from 32 metres.
Individual quartz-vein samples within those intervals returned much higher grades, including 142.90 g/t gold over 0.50 metres in IMWDR029 and 124.83 g/t over 0.40 metres in IMWDR028.
The results are from eight HQ diamond drill holes covering 225 metres across roughly 240 metres of strike in Area C. Four holes encountered voids **** ociated with historical artisanal mining, where parts of the shallow mineralized zone had already been removed.
The company said the drilling will help refine detailed mine planning and future grade-control work. Reported intercepts are down-hole lengths, and true widths have not yet been established.
#imwdr029
2 months ago
Scorpio Gold (NASDAQ:SGLD) reported new Goldwedge drilling results from its Manhattan District Project in Nevada, including 3.02 g/t gold over 48.92 metres and a separate 99.94-metre interval grading 1.19 g/t gold, adding evidence of both grade and mineralized scale within the target.
Scorpio Gold (NASDAQ:SGLD) hole 26MN-115 returned 3.02 g/t gold over 48.92 metres from 118.87 metres, including a higher-grade interval of 19.29 g/t over 5.24 metres.
Hole 26MN-118 produced a broad 99.94-metre intersection grading 1.19 g/t gold from 98.61 metres, including 5.13 g/t over 4.16 metres.
Additional mineralization was encountered at the faulted contact between the Zanzibar Formation and Manhattan Caldera Volcanics, including 5.14 g/t gold over 10.15 metres.
Phase Two drilling has reached 114 holes and 32,585 metres, with ***** ays now reported for 107 holes covering 30,889 metres.
#Gold #NASDAQ #reported
Scorpio Gold (NASDAQ:SGLD) hole 26MN-115 returned 3.02 g/t gold over 48.92 metres from 118.87 metres, including a higher-grade interval of 19.29 g/t over 5.24 metres.
Hole 26MN-118 produced a broad 99.94-metre intersection grading 1.19 g/t gold from 98.61 metres, including 5.13 g/t over 4.16 metres.
Additional mineralization was encountered at the faulted contact between the Zanzibar Formation and Manhattan Caldera Volcanics, including 5.14 g/t gold over 10.15 metres.
Phase Two drilling has reached 114 holes and 32,585 metres, with ***** ays now reported for 107 holes covering 30,889 metres.
#Gold #NASDAQ #reported
2 months ago
(By Oil & Gas 360) – Month Ending: August 2026 – August was the month energy markets began treating geopolitical disruption less like a temporary shock and more like a structural part of the investment landscape. The Iran conflict remained the dominant force running through oil prices, tanker markets, LNG flows, sanctions policy, and shipping through the Strait of Hormuz.
Yet one of the more revealing developments was how quickly commodity markets learned to absorb the uncertainty. Oil could rally on renewed fighting, fall on hopes for diplomacy, and then trade lower even as physical shipping constraints remained very real.
The industry's response told a different story. Producers, midstream companies, and governments continued committing capital to natural gas, new drilling inventory, offshore exploration, pipelines, ports, automation, and alternative supply routes. August was therefore not simply a month defined by war or volatile crude prices. It was a month that exposed how deeply intertwined energy security, infrastructure, technology, and access to resources are becoming.
The Iran conflict remained the defining energy story of August. Brent repeatedly moved in response to developments surrounding fighting and diplomacy, while commodity vessel traffic through the Strait of Hormuz fell to a three-month low. Reports that nearly half of global oil flows originated in or moved through conflict-affected regions underscored just how exposed the world's energy system had become to geopolitical instability.
The consequences extended well beyond crude prices. VLCC tanker rates reportedly climbed as high as $650,000 per day, Qatar suffered a severe collapse in LNG exports, and Gulf producers accelerated investment in pipelines and ports capable of reducing dependence on vulnerable maritime corridors.
#strait #hormuz
Yet one of the more revealing developments was how quickly commodity markets learned to absorb the uncertainty. Oil could rally on renewed fighting, fall on hopes for diplomacy, and then trade lower even as physical shipping constraints remained very real.
The industry's response told a different story. Producers, midstream companies, and governments continued committing capital to natural gas, new drilling inventory, offshore exploration, pipelines, ports, automation, and alternative supply routes. August was therefore not simply a month defined by war or volatile crude prices. It was a month that exposed how deeply intertwined energy security, infrastructure, technology, and access to resources are becoming.
The Iran conflict remained the defining energy story of August. Brent repeatedly moved in response to developments surrounding fighting and diplomacy, while commodity vessel traffic through the Strait of Hormuz fell to a three-month low. Reports that nearly half of global oil flows originated in or moved through conflict-affected regions underscored just how exposed the world's energy system had become to geopolitical instability.
The consequences extended well beyond crude prices. VLCC tanker rates reportedly climbed as high as $650,000 per day, Qatar suffered a severe collapse in LNG exports, and Gulf producers accelerated investment in pipelines and ports capable of reducing dependence on vulnerable maritime corridors.
#strait #hormuz
2 months ago
ONEOK, Inc. (NYSE:OKE) has agreed to acquire Brazos Midstream's Permian Midland Basin natural-gas gathering and processing ***** ets for $4.425 billion in cash. The deal is being paired with a $9 billion nonvoting minority equity investment from Apollo, of which ONEOK plans to use about $5 billion to reduce existing debt. ONEOK expects the acquisition to be immediately accretive to earnings and free cash flow per share.
The transaction would more than double ONEOK, Inc. (NYSE:OKE)'s Midland Basin processing capacity to approximately 2.3 Bcf/d, including plants already under construction. The acquired platform includes roughly 700 miles of gathering infrastructure, 1.2 Bcf/d of processing capacity after the Cassidy II plant is completed, and approximately 600,000 dedicated acres backed by fixed-fee contracts with more than 12 years of weighted-average remaining term.
The biggest attraction is the quality and location of the ***** ets. The Permian remains one of the most economically important oil and gas-producing regions in the U.S., and the Brazos system gives ONEOK, Inc. (NYSE:OKE) additional exposure to ***** ociated natural-gas volumes generated by oil production. The acquired ***** ets are supported by 14 active drilling rigs operated by producers including ExxonMobil, Diamondback Energy, and Double Eagle. The long-term contracts provide ONEOK with considerable visibility into future volumes and cash flows. That makes this more than a simple capacity expansion. ONEOK is effectively adding infrastructure that can grow alongside production on the dedicated acreage.
The ***** ets fit closely with ONEOK's existing gathering, processing, NGL transportation and crude infrastructure. That creates an opportunity to extract more value from the same barrels and molecules as they move through ONEOK's network.
The company expects to connect the Brazos system with downstream ***** ets such as its West Texas NGL Pipeline and the Medford NGL fractionation facility. This broader integration could produce commercial and operational efficiencies that an independent owner of the ***** ets might not be able to capture. ONEOK estimates about $80 million of full-year synergies in its 2027 EBITDA calculation and expects additional commercial and capital efficiencies as the systems are integrated.
#cash #expects
The transaction would more than double ONEOK, Inc. (NYSE:OKE)'s Midland Basin processing capacity to approximately 2.3 Bcf/d, including plants already under construction. The acquired platform includes roughly 700 miles of gathering infrastructure, 1.2 Bcf/d of processing capacity after the Cassidy II plant is completed, and approximately 600,000 dedicated acres backed by fixed-fee contracts with more than 12 years of weighted-average remaining term.
The biggest attraction is the quality and location of the ***** ets. The Permian remains one of the most economically important oil and gas-producing regions in the U.S., and the Brazos system gives ONEOK, Inc. (NYSE:OKE) additional exposure to ***** ociated natural-gas volumes generated by oil production. The acquired ***** ets are supported by 14 active drilling rigs operated by producers including ExxonMobil, Diamondback Energy, and Double Eagle. The long-term contracts provide ONEOK with considerable visibility into future volumes and cash flows. That makes this more than a simple capacity expansion. ONEOK is effectively adding infrastructure that can grow alongside production on the dedicated acreage.
The ***** ets fit closely with ONEOK's existing gathering, processing, NGL transportation and crude infrastructure. That creates an opportunity to extract more value from the same barrels and molecules as they move through ONEOK's network.
The company expects to connect the Brazos system with downstream ***** ets such as its West Texas NGL Pipeline and the Medford NGL fractionation facility. This broader integration could produce commercial and operational efficiencies that an independent owner of the ***** ets might not be able to capture. ONEOK estimates about $80 million of full-year synergies in its 2027 EBITDA calculation and expects additional commercial and capital efficiencies as the systems are integrated.
#cash #expects
2 months ago
Venezuela has the largest proven oil reserves in the world, and its heavy crude is particularly well suited to the sophisticated refineries lining the U.S. Gulf Coast. More Venezuelan oil should help U.S. refiners, but that doesn't translate directly into lower prices at the pump.
Trump announced Friday that the U.S. had secured majority control over Venezuelan fields containing more than 65 billion barrels of oil, saying the agreement would greatly increase U.S. supply and substantially lower gasoline prices "long into the future." On Sunday, he added another destination for Venezuelan crude, saying Washington would soon start using it to refill the Strategic Petroleum Reserve.
The deal gives the U.S. access to an enormous oil resource, but the effect on gasoline prices will depend on how much additional Venezuelan crude can actually be produced and where those barrels go.
Venezuela is currently producing roughly 1.25 million bpd, while the new projects are targeting production above 1.5 million bpd. Getting substantially beyond that will require more drilling, extensive workovers, improved infrastructure, reliableF access to diluents and significantly more drilling rigs, according to Rystad.
Venezuelan crude's role in American refining is already substantial. U.S. imports from Venezuela averaged 637,000 bpd over the four weeks through Aug. 21, according to the EIA, reaching 662,000 bpd in the latest week. Venezuela was the second-largest U.S. crude supplier behind Canada during that period. Those barrels have become more useful as the U.S.-Iran war has disrupted crude and heavy fuel oil flows from the Middle East.
#venezuelan
Trump announced Friday that the U.S. had secured majority control over Venezuelan fields containing more than 65 billion barrels of oil, saying the agreement would greatly increase U.S. supply and substantially lower gasoline prices "long into the future." On Sunday, he added another destination for Venezuelan crude, saying Washington would soon start using it to refill the Strategic Petroleum Reserve.
The deal gives the U.S. access to an enormous oil resource, but the effect on gasoline prices will depend on how much additional Venezuelan crude can actually be produced and where those barrels go.
Venezuela is currently producing roughly 1.25 million bpd, while the new projects are targeting production above 1.5 million bpd. Getting substantially beyond that will require more drilling, extensive workovers, improved infrastructure, reliableF access to diluents and significantly more drilling rigs, according to Rystad.
Venezuelan crude's role in American refining is already substantial. U.S. imports from Venezuela averaged 637,000 bpd over the four weeks through Aug. 21, according to the EIA, reaching 662,000 bpd in the latest week. Venezuela was the second-largest U.S. crude supplier behind Canada during that period. Those barrels have become more useful as the U.S.-Iran war has disrupted crude and heavy fuel oil flows from the Middle East.
#venezuelan
2 months ago
ONEOK has agreed to acquire Brazos Midstream's natural gas gathering and processing ******* ets in the Permian Basin's Midland sub-basin for $4.425 billion in cash, expanding the midstream operator's footprint in one of the largest U.S. oil and gas producing regions.
The acquisition will be funded as part of a separate $9 billion nonvoting minority equity investment from funds and affiliates managed by Apollo Global Management. ONEOK plans to use roughly $5 billion of the Apollo proceeds to extinguish existing debt, while the remainder will fund the Brazos acquisition.
The structure allows ONEOK to finance the transaction without issuing common equity. The company said the combination of the Apollo investment and planned debt reduction is expected to bring its pro forma 2027 debt-to-EBITDA ratio to about 3.25 times.
Brazos' Midland Basin system is supported by roughly 600,000 dedicated acres under fixed-fee contracts with a weighted average remaining term exceeding 12 years, according to ONEOK. Producers operating on the acreage include ExxonMobil, Diamondback Energy and Double Eagle, with 14 active drilling rigs currently supporting the system.
After completion of the Cassidy II processing plant, which ONEOK expects in the third quarter of 2027, the acquired system is expected to comprise about 700 miles of gathering infrastructure and 1.2 billion cubic feet per day of gas processing capacity across seven Midland Basin counties.
#basin
The acquisition will be funded as part of a separate $9 billion nonvoting minority equity investment from funds and affiliates managed by Apollo Global Management. ONEOK plans to use roughly $5 billion of the Apollo proceeds to extinguish existing debt, while the remainder will fund the Brazos acquisition.
The structure allows ONEOK to finance the transaction without issuing common equity. The company said the combination of the Apollo investment and planned debt reduction is expected to bring its pro forma 2027 debt-to-EBITDA ratio to about 3.25 times.
Brazos' Midland Basin system is supported by roughly 600,000 dedicated acres under fixed-fee contracts with a weighted average remaining term exceeding 12 years, according to ONEOK. Producers operating on the acreage include ExxonMobil, Diamondback Energy and Double Eagle, with 14 active drilling rigs currently supporting the system.
After completion of the Cassidy II processing plant, which ONEOK expects in the third quarter of 2027, the acquired system is expected to comprise about 700 miles of gathering infrastructure and 1.2 billion cubic feet per day of gas processing capacity across seven Midland Basin counties.
#basin
2 months ago
Kaden Wetjen finally gave Mike McCarthy exactly what he had been asking for. After spending much of the preseason hearing criticism about his decision-making as a returner, the Pittsburgh Steelers rookie broke loose for a huge punt-return touchdown against the Buffalo Bills, and even during the play, McCarthy was still barking the same message he had been drilling into Wetjen all summer.
And the funny part? Wetjen didn't exactly follow the instructions. McCarthy was yelling for him to get north and attack vertically. Instead, the rookie bounced toward the sideline. However, this time, that decision worked perfectly.
Aug 13, 2026; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers head coach Mike McCarthy watches the action against the Green Bay Packers during the first half at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images
McCarthy explained what happened on August 28, after the Steelers' 28-27 preseason loss to the Bills. Wetjen broke a 45-yard punt return for a touchdown in the third quarter, giving them the explosive special-teams play the Steelers had been waiting to see from their fourth-round rookie.
"Sometimes coaches say things on a headset they probably shouldn't say, like 'get north, get north' or 'get vertical,' which I was screaming at him at that time. And then he obviously bounced it to the sideline. I saw it on the Jumbotron. I saw why he bounced it, because he didn't have anywhere to go in front of him. He's been under some criticism just for being a young guy on a veteran team, so some tough love. I'm proud of him. I was really happy to see the return unit get that. Obviously, that was just a heck of a return by him, because if you're grading the tape, the coverage unit was in excellent position right there. And he gets around a corner and, obviously, finishes it off. That was a big-time return."
#pittsburgh #north #time
And the funny part? Wetjen didn't exactly follow the instructions. McCarthy was yelling for him to get north and attack vertically. Instead, the rookie bounced toward the sideline. However, this time, that decision worked perfectly.
Aug 13, 2026; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers head coach Mike McCarthy watches the action against the Green Bay Packers during the first half at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images
McCarthy explained what happened on August 28, after the Steelers' 28-27 preseason loss to the Bills. Wetjen broke a 45-yard punt return for a touchdown in the third quarter, giving them the explosive special-teams play the Steelers had been waiting to see from their fourth-round rookie.
"Sometimes coaches say things on a headset they probably shouldn't say, like 'get north, get north' or 'get vertical,' which I was screaming at him at that time. And then he obviously bounced it to the sideline. I saw it on the Jumbotron. I saw why he bounced it, because he didn't have anywhere to go in front of him. He's been under some criticism just for being a young guy on a veteran team, so some tough love. I'm proud of him. I was really happy to see the return unit get that. Obviously, that was just a heck of a return by him, because if you're grading the tape, the coverage unit was in excellent position right there. And he gets around a corner and, obviously, finishes it off. That was a big-time return."
#pittsburgh #north #time
2 months ago
NORTH KINGSTOWN – Three Maher sisters were finally together again on the pitch Thursday night, and the youngest had herself quite a ***** berland girls soccer debut.
Shea Maher scored two goals inside the final five minutes to decide this Division I clash of contenders against North Kingstown. The Clippers left Perry Athletic Complex with all three points thanks to a talented newcomer.
Maher found the net in the 75th minute and converted a penalty kick soon after to push ***** berland over the top. The Skippers had no time to respond in a 2-0 opening defeat, a match that's been seemingly inevitable in November's playoffs multiple times in recent seasons.
More: Vote for The Providence Journal Preseason Girls Soccer MVP now!
Maher's solo run and left-footed finish on the opener would have been enough. She added some insurance from the spot just moments later, drilling a right-footed shot into the lower left corner. The Clippers made an early case they should be right back in the running atop the league after winning the 2023 crown and falling on penalty kicks to North Kingstown in the 2024 final.
#north #cumberland #three
Shea Maher scored two goals inside the final five minutes to decide this Division I clash of contenders against North Kingstown. The Clippers left Perry Athletic Complex with all three points thanks to a talented newcomer.
Maher found the net in the 75th minute and converted a penalty kick soon after to push ***** berland over the top. The Skippers had no time to respond in a 2-0 opening defeat, a match that's been seemingly inevitable in November's playoffs multiple times in recent seasons.
More: Vote for The Providence Journal Preseason Girls Soccer MVP now!
Maher's solo run and left-footed finish on the opener would have been enough. She added some insurance from the spot just moments later, drilling a right-footed shot into the lower left corner. The Clippers made an early case they should be right back in the running atop the league after winning the 2023 crown and falling on penalty kicks to North Kingstown in the 2024 final.
#north #cumberland #three
2 months ago
Interested in Matador Resources Company? Here are five stocks we like better.
Matador Resources is targeting profitable, measured growth, projecting approximately $900 million in free cash flow and continued production increases in 2026. The company has also reduced drilling and completion costs per lateral foot by 12% since 2024.
The company is expanding its Delaware Basin inventory, adding 17,000 net acres through leasing, trades and acquisitions, including positions that extend laterals and provide exposure to formations such as Woodford and Second Bone Spring Carbonate.
Matador's integrated midstream business is expected to generate nearly $400 million of EBITDA in 2026, while management evaluates ways to unlock its value through entity-level debt or a potential IPO.
Permian Resources Rally Faces a Test
#company #matador #here #woodford
Matador Resources is targeting profitable, measured growth, projecting approximately $900 million in free cash flow and continued production increases in 2026. The company has also reduced drilling and completion costs per lateral foot by 12% since 2024.
The company is expanding its Delaware Basin inventory, adding 17,000 net acres through leasing, trades and acquisitions, including positions that extend laterals and provide exposure to formations such as Woodford and Second Bone Spring Carbonate.
Matador's integrated midstream business is expected to generate nearly $400 million of EBITDA in 2026, while management evaluates ways to unlock its value through entity-level debt or a potential IPO.
Permian Resources Rally Faces a Test
#company #matador #here #woodford
2 months ago
Greenlight Capital is an investment management firm specializing in value-oriented strategies. The letter can be downloaded here. Greenlight Capital released its second-quarter 2026 investor letter, reporting a 4.3% decline for the Partnerships and a 1.9% year-to-date gain, net of fees and expenses, compared with gains of 15.2% and 10.2% for the S&P 500 Index. The funds entered the quarter conservatively, but costly trading decisions and macro positions, particularly in gold and U.S. interest rates, weighed on results. Long positions contributed roughly 9%, offset by similar losses from shorts. The letter also highlighted concerns over speculative market conditions, using ***** eX's $1.75 trillion IPO valuation and investment-grade rating as examples of excess. Looking ahead, Greenlight is more constructive on Fed Chairman Kevin Warsh's inflation stance and expects positions to recover if inflation moderates and rates remain unchanged. Additionally, reviewing the Strategy's top holdings could help identify its best ideas for 2026.
In its second-quarter 2026 investor letter, Greenlight Capital highlighted Weatherford International plc (NASDAQ:WFRD). Weatherford International plc (NASDAQ:WFRD) is an energy services company that provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. On August 26, 2026, Weatherford International plc (NASDAQ:WFRD) closed at $88.00 per share. The one-month return of Weatherford International plc (NASDAQ:WFRD) was 6.34%, and its shares gained 38.20% over the past 52 weeks. Weatherford International plc (NASDAQ:WFRD) has a market capitalization of $6.34 billion and its stock has traded within a 52-week range of $60.23 - $113.15.
Greenlight Capital stated the following regarding Weatherford International plc (NASDAQ:WFRD) in its Q2 2026 investor letter:
"During the quarter, we also exited a few positions: Weatherford International plc (NASDAQ:WFRD) with a 45% IRR over a 4-year holding period. After the company emerged from bankruptcy and relisted on NASDAQ, the shares appreciated significantly as the company further de-levered, reclaimed lost market share and improved its margins while its end markets in energy services generally strengthened."
Weatherford International plc (NASDAQ:WFRD) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Weatherford International plc (NASDAQ:WFRD) at the end of the second quarter which was 42 in the previous quarter. While we acknowledge the potential of Weatherford International plc (NASDAQ:WFRD) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#weatherford
In its second-quarter 2026 investor letter, Greenlight Capital highlighted Weatherford International plc (NASDAQ:WFRD). Weatherford International plc (NASDAQ:WFRD) is an energy services company that provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. On August 26, 2026, Weatherford International plc (NASDAQ:WFRD) closed at $88.00 per share. The one-month return of Weatherford International plc (NASDAQ:WFRD) was 6.34%, and its shares gained 38.20% over the past 52 weeks. Weatherford International plc (NASDAQ:WFRD) has a market capitalization of $6.34 billion and its stock has traded within a 52-week range of $60.23 - $113.15.
Greenlight Capital stated the following regarding Weatherford International plc (NASDAQ:WFRD) in its Q2 2026 investor letter:
"During the quarter, we also exited a few positions: Weatherford International plc (NASDAQ:WFRD) with a 45% IRR over a 4-year holding period. After the company emerged from bankruptcy and relisted on NASDAQ, the shares appreciated significantly as the company further de-levered, reclaimed lost market share and improved its margins while its end markets in energy services generally strengthened."
Weatherford International plc (NASDAQ:WFRD) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Weatherford International plc (NASDAQ:WFRD) at the end of the second quarter which was 42 in the previous quarter. While we acknowledge the potential of Weatherford International plc (NASDAQ:WFRD) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#weatherford
2 months ago
Saudi Aramco has announced more than $3.7 billion in potential agreements with French companies as the oil giant moves to strengthen its supply chain and expand the use of artificial intelligence and other digital technologies across its operations.
The agreements and memorandum of understanding were announced during a French-Saudi investment roundtable attended by Aramco President and CEO Amin Nasser.
The package includes a corporate procurement agreement covering drilling equipment and a purchase agreement for oil country tubular goods, or OCTG, a category of steel pipe used in drilling and well construction.
Aramco Digital also signed an MoU establishing a framework for potential cooperation in industrial artificial intelligence, virtual twin and digital twin technologies, including possible applications in the oil and gas sector.
Aramco said the partnerships could improve operational continuity and efficiency while supporting technology transfer, capability development and supply chain resilience. The company did not identify the French counterparties in its announcement or disclose how the potential $3.7 billion value is divided among the individual agreements.
#digital #agreements #chain
The agreements and memorandum of understanding were announced during a French-Saudi investment roundtable attended by Aramco President and CEO Amin Nasser.
The package includes a corporate procurement agreement covering drilling equipment and a purchase agreement for oil country tubular goods, or OCTG, a category of steel pipe used in drilling and well construction.
Aramco Digital also signed an MoU establishing a framework for potential cooperation in industrial artificial intelligence, virtual twin and digital twin technologies, including possible applications in the oil and gas sector.
Aramco said the partnerships could improve operational continuity and efficiency while supporting technology transfer, capability development and supply chain resilience. The company did not identify the French counterparties in its announcement or disclose how the potential $3.7 billion value is divided among the individual agreements.
#digital #agreements #chain
2 months ago
The Australian small-cap market strengthened on Monday, with the S&P/ASX Small Ordinaries (XSO) closing at 3,567.00, up 16.50 points or 0.46% for the session.
The index has now gained 46.50 points or 1.32% over the past five trading days, maintaining positive momentum as investors continue to look across the smaller end of the market for growth opportunities.
Resource companies will also get the chance to show their wares directly to investors this week, with the RIU Resources Investor Roadshow kicking off today at Melbourne's Sofitel on Collins before heading to Sydney's Swissôtel on Thursday. You can check out the program here.
Meanwhile, several companies updated the market on their movements this morning. You can read about the following and more throughout the day.
Horizon Gold Ltd (ASX:HRN, OTC:HZGLF, FRA:HO0) has returned numerous significant gold intercepts from reverse circulation drilling at its 100%-owned Gum Creek Gold Project in Western Australia's Mid-West.
#ordinaries
The index has now gained 46.50 points or 1.32% over the past five trading days, maintaining positive momentum as investors continue to look across the smaller end of the market for growth opportunities.
Resource companies will also get the chance to show their wares directly to investors this week, with the RIU Resources Investor Roadshow kicking off today at Melbourne's Sofitel on Collins before heading to Sydney's Swissôtel on Thursday. You can check out the program here.
Meanwhile, several companies updated the market on their movements this morning. You can read about the following and more throughout the day.
Horizon Gold Ltd (ASX:HRN, OTC:HZGLF, FRA:HO0) has returned numerous significant gold intercepts from reverse circulation drilling at its 100%-owned Gum Creek Gold Project in Western Australia's Mid-West.
#ordinaries
2 months ago
Jade Gas has lodged a plan for development of operations (PDO) for its Tavan Tolgoi Coal Bed Methane (TTCBM) project with Mongolia's regulator and agreed a proposed 502km² production licence area.
The plan for the coal bed methane project has been submitted to the Mongolian Minerals Reserve Council for approval. It sets out a framework for drilling, dewatering, gas production and long-term management of field operations.
Jade Gas said approval of the PDO would be a regulatory milestone towards securing the long-term production rights required to commercially develop the project.
In parallel, the company agreed the proposed production licence area with the Mongolian regulator. The 502km² area is roughly 80% of the existing 629km² exploration area.
The proposed area covers the Red Lake development, which contains Jade Gas' maiden coal bed methane reserves and is the initial focus of development activities.
#mongolian
The plan for the coal bed methane project has been submitted to the Mongolian Minerals Reserve Council for approval. It sets out a framework for drilling, dewatering, gas production and long-term management of field operations.
Jade Gas said approval of the PDO would be a regulatory milestone towards securing the long-term production rights required to commercially develop the project.
In parallel, the company agreed the proposed production licence area with the Mongolian regulator. The 502km² area is roughly 80% of the existing 629km² exploration area.
The proposed area covers the Red Lake development, which contains Jade Gas' maiden coal bed methane reserves and is the initial focus of development activities.
#mongolian
2 months ago
ADNOC has awarded McDermott a contract worth more than $1 billion for a major offshore pressure-boosting facility at Abu Dhabi's Umm Shaif field, as the UAE accelerates investment in natural gas production.
The engineering, procurement, construction and installation contract covers Package 4 of ADNOC's Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project. McDermott and its Qingdao McDermott Wuchuan consortium will construct and install a new jacket and topside while modifying existing offshore infrastructure.
McDermott did not disclose the exact contract value but classified it as a "mega" award, which the company defines as exceeding $1 billion. The company said the completed topside will be among the heaviest offshore modules ever installed in the Middle East.
The contract follows ADNOC's $6.2-billion final investment decision in July to develop the Umm Shaif Gas Cap alongside TotalEnergies, Eni and China National Petroleum Corporation. The wider project includes three EPC contracts worth a combined $5.1 billion and a 14-well drilling program.
ADNOC expects the development to unlock more than 600 million standard cubic feet per day of natural gas and ***** ociated liquids, equivalent to roughly 10% of current UAE domestic gas consumption. First production is targeted for 2030.
#mcdermott
The engineering, procurement, construction and installation contract covers Package 4 of ADNOC's Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project. McDermott and its Qingdao McDermott Wuchuan consortium will construct and install a new jacket and topside while modifying existing offshore infrastructure.
McDermott did not disclose the exact contract value but classified it as a "mega" award, which the company defines as exceeding $1 billion. The company said the completed topside will be among the heaviest offshore modules ever installed in the Middle East.
The contract follows ADNOC's $6.2-billion final investment decision in July to develop the Umm Shaif Gas Cap alongside TotalEnergies, Eni and China National Petroleum Corporation. The wider project includes three EPC contracts worth a combined $5.1 billion and a 14-well drilling program.
ADNOC expects the development to unlock more than 600 million standard cubic feet per day of natural gas and ***** ociated liquids, equivalent to roughly 10% of current UAE domestic gas consumption. First production is targeted for 2030.
#mcdermott
2 months ago
Expion Energy, Inc. (NASDAQ:XPON), formerly Expion360 Inc., has acquired oil and gas ****** ets in Eastern Louisiana, marking its first entry into the sector as the company broadens its strategy beyond its established energy storage business.
The transaction includes approximately 3,000 net acres of existing leasehold, a wellbore and mineral ****** le research covering roughly 13,000 net acres. Expion paid an adjusted $3.425 million in cash at closing and plans to fund an additional leasing programme ahead of drilling and testing targeted by February 15, 2027.
Expion Energy (NASDAQ:XPON) is entering oil and gas exploration for the first time, representing a significant change in the company's operating strategy.
The acquisition cost $3.425 million in cash on an adjusted basis and provides approximately 3,000 net acres of existing leasehold in Eastern Louisiana.
Expion has committed up to $4 million toward the leasing programme, including at least $2.5 million for leasing at prevailing market rates.
#energy #xpon #first
The transaction includes approximately 3,000 net acres of existing leasehold, a wellbore and mineral ****** le research covering roughly 13,000 net acres. Expion paid an adjusted $3.425 million in cash at closing and plans to fund an additional leasing programme ahead of drilling and testing targeted by February 15, 2027.
Expion Energy (NASDAQ:XPON) is entering oil and gas exploration for the first time, representing a significant change in the company's operating strategy.
The acquisition cost $3.425 million in cash on an adjusted basis and provides approximately 3,000 net acres of existing leasehold in Eastern Louisiana.
Expion has committed up to $4 million toward the leasing programme, including at least $2.5 million for leasing at prevailing market rates.
#energy #xpon #first
2 months ago
Norwegian oil and gas firms Equinor and Aker BP have made a gas and condensate discovery close to the operating Balder field in the North Sea, the Norwegian Offshore Directorate, the regulator of the industry in Norway, said on Monday.
Equinor and Aker BP had an exploration well drilled in a production license 16 kilometers (10 miles) northwest of the Balder field and 205 kilometers (127 miles) west of Stavanger, a major oil services hub in Norway.
Preliminary estimates indicate the size of the discovery is between 0.1 and 2.1 million standard cubic meters (Sm3) of recoverable oil equivalent, the Norwegian regulator said.
The licensees are now reviewing the result from the well and the other wells previously drilled in the license to consider further exploration potential in the production license.
Norway, Equinor, Aker BP, and other producers in the Norwegian Continental Shelf (NCS) continue to pursue drilling and development in areas close to existing infrastructure to fast-track potential new projects by tie-backs to operational platforms.
#norway #license #close #field
Equinor and Aker BP had an exploration well drilled in a production license 16 kilometers (10 miles) northwest of the Balder field and 205 kilometers (127 miles) west of Stavanger, a major oil services hub in Norway.
Preliminary estimates indicate the size of the discovery is between 0.1 and 2.1 million standard cubic meters (Sm3) of recoverable oil equivalent, the Norwegian regulator said.
The licensees are now reviewing the result from the well and the other wells previously drilled in the license to consider further exploration potential in the production license.
Norway, Equinor, Aker BP, and other producers in the Norwegian Continental Shelf (NCS) continue to pursue drilling and development in areas close to existing infrastructure to fast-track potential new projects by tie-backs to operational platforms.
#norway #license #close #field
