9 hours 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
5 days 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
6 days ago
On the basis of its price right now relative to where it was at the same point in its prior four-year market cycles, Bitcoin (CRYPTO: BTC) looks pretty cheap, with a price of $77,155 as of Sept. 1, 38% below its last all-time high near $126,080, which was set in October 2025.
Of course, Bitcoin "cycle theory" isn't an empirically proven law, but it can be a useful framework for understanding the coin's behavior relative to past periods. If we take that caveat in stride, there's reason to believe decent returns await those who buy it now, so let's examine the case for it being priced at a bargain.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Bitcoin miners are businesses that lend their computing power to the network to produce new coins by essentially burning electricity on difficult calculations.
When the coin's price drops below its production cost, such as during a bear market, the least efficient miners have to capitulate and shut down their rigs to stop operating at a loss, and the network's total computing power, called the hash rate, declines. If the hash rate declines by too much, it takes longer for each new block to be mined, which triggers an automatic downward adjustment to the protocol's mining difficulty. Then, when mining becomes a bit easier again, the recently discouraged operators can return, as they're more likely to be profitable with a lower mining difficulty, and more Bitcoin is subsequently produced.
#Bitcoin #mining
Of course, Bitcoin "cycle theory" isn't an empirically proven law, but it can be a useful framework for understanding the coin's behavior relative to past periods. If we take that caveat in stride, there's reason to believe decent returns await those who buy it now, so let's examine the case for it being priced at a bargain.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Bitcoin miners are businesses that lend their computing power to the network to produce new coins by essentially burning electricity on difficult calculations.
When the coin's price drops below its production cost, such as during a bear market, the least efficient miners have to capitulate and shut down their rigs to stop operating at a loss, and the network's total computing power, called the hash rate, declines. If the hash rate declines by too much, it takes longer for each new block to be mined, which triggers an automatic downward adjustment to the protocol's mining difficulty. Then, when mining becomes a bit easier again, the recently discouraged operators can return, as they're more likely to be profitable with a lower mining difficulty, and more Bitcoin is subsequently produced.
#Bitcoin #mining
7 days ago
On the basis of its price right now relative to where it was at the same point in its prior four-year market cycles, Bitcoin (CRYPTO: BTC) looks pretty cheap, with a price of $77,155 as of Sept. 1, 38% below its last all-time high near $126,080, which was set in October 2025.
Of course, Bitcoin "cycle theory" isn't an empirically proven law, but it can be a useful framework for understanding the coin's behavior relative to past periods. If we take that caveat in stride, there's reason to believe decent returns await those who buy it now, so let's examine the case for it being priced at a bargain.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Bitcoin miners are businesses that lend their computing power to the network to produce new coins by essentially burning electricity on difficult calculations.
When the coin's price drops below its production cost, such as during a bear market, the least efficient miners have to capitulate and shut down their rigs to stop operating at a loss, and the network's total computing power, called the hash rate, declines. If the hash rate declines by too much, it takes longer for each new block to be mined, which triggers an automatic downward adjustment to the protocol's mining difficulty. Then, when mining becomes a bit easier again, the recently discouraged operators can return, as they're more likely to be profitable with a lower mining difficulty, and more Bitcoin is subsequently produced.
#Bitcoin #flashing #same
Of course, Bitcoin "cycle theory" isn't an empirically proven law, but it can be a useful framework for understanding the coin's behavior relative to past periods. If we take that caveat in stride, there's reason to believe decent returns await those who buy it now, so let's examine the case for it being priced at a bargain.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Bitcoin miners are businesses that lend their computing power to the network to produce new coins by essentially burning electricity on difficult calculations.
When the coin's price drops below its production cost, such as during a bear market, the least efficient miners have to capitulate and shut down their rigs to stop operating at a loss, and the network's total computing power, called the hash rate, declines. If the hash rate declines by too much, it takes longer for each new block to be mined, which triggers an automatic downward adjustment to the protocol's mining difficulty. Then, when mining becomes a bit easier again, the recently discouraged operators can return, as they're more likely to be profitable with a lower mining difficulty, and more Bitcoin is subsequently produced.
#Bitcoin #flashing #same
9 days ago
On September 1, Helios Technologies (NYSE:HLIO) announced that its Electronics segment had expanded the No Roads platform with Apple CarPlay and Android Auto, bringing familiar smartphone integration to boats, ATVs, and off-road rigs that never touch pavement. The announcement landed three weeks after Helios posted a second quarter in which that same Electronics segment expanded gross margin by more than 500 basis points, and it came alongside a raised full-year outlook. For a company known for hydraulic cylinders and industrial controls, chasing smartphone connectivity is a notable shift in emphasis.
No Roads was built jointly by Enovation Controls and i3 Product Development, pairing hardware built for rugged, integrated displays with i3's software and connected-product design work. Billy Aldridge, President of Electronics for Helios, described the Apple CarPlay and Android Auto rollout as a foundation for future connected capabilities rather than a standalone feature, and pointed to powersports, marine, overlanding, and specialty-vehicle OEMs as customers who now have a reason to look at Helios displays.
CEO Sean Bagan tied the move to a broader pattern of combining the company's operating units to build differentiated products, extending value to existing customers while pursuing new business in adjacent markets. The segment's own numbers back up that framing. Electronics sales climbed 19% in the second quarter of 2026 to $85.5 million, while gross margin expanded 530 basis points to 34.6%, pushing operating income up 90% to $11.2 million. That kind of margin expansion tends to show up when a business shifts from generic hardware toward harder-to-copy, differentiated products, which is exactly the case Helios is building for No Roads.
The company backed that story up at the corporate level too, raising its full-year 2026 sales outlook to $880 million to $900 million, up from a prior range of $840 million to $870 million, while cutting net debt to 1.4 times adjusted EBITDA from 2.6 times a year earlier.
Helios has not disclosed what No Roads, or the CarPlay and Android Auto features specifically, contribute to revenue, so the financial case for this rollout rests on management's framing rather than a number investors can independently verify. CFO Jeremy Evans tempered the company's own optimism when he flagged tougher year-over-year comparisons in the second half, along with geopolitical uncertainty, tariff dynamics, and broader inflationary pressures as ongoing headwinds.
#auto #expanded
No Roads was built jointly by Enovation Controls and i3 Product Development, pairing hardware built for rugged, integrated displays with i3's software and connected-product design work. Billy Aldridge, President of Electronics for Helios, described the Apple CarPlay and Android Auto rollout as a foundation for future connected capabilities rather than a standalone feature, and pointed to powersports, marine, overlanding, and specialty-vehicle OEMs as customers who now have a reason to look at Helios displays.
CEO Sean Bagan tied the move to a broader pattern of combining the company's operating units to build differentiated products, extending value to existing customers while pursuing new business in adjacent markets. The segment's own numbers back up that framing. Electronics sales climbed 19% in the second quarter of 2026 to $85.5 million, while gross margin expanded 530 basis points to 34.6%, pushing operating income up 90% to $11.2 million. That kind of margin expansion tends to show up when a business shifts from generic hardware toward harder-to-copy, differentiated products, which is exactly the case Helios is building for No Roads.
The company backed that story up at the corporate level too, raising its full-year 2026 sales outlook to $880 million to $900 million, up from a prior range of $840 million to $870 million, while cutting net debt to 1.4 times adjusted EBITDA from 2.6 times a year earlier.
Helios has not disclosed what No Roads, or the CarPlay and Android Auto features specifically, contribute to revenue, so the financial case for this rollout rests on management's framing rather than a number investors can independently verify. CFO Jeremy Evans tempered the company's own optimism when he flagged tougher year-over-year comparisons in the second half, along with geopolitical uncertainty, tariff dynamics, and broader inflationary pressures as ongoing headwinds.
#auto #expanded
10 days 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
10 days 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
11 days ago
Oil prices surged above $120 a barrel in April as the Iran conflict choked the Strait of Hormuz and traders feared the worst.
Since then, something unexpected has happened. Prices have been falling. Not because the conflict ended, but because the market found a way around it.
Goldman Sachs ***** ysts Daan Struyven and Yulia Zhestkova Grigsby published a note this week laying out why the energy market's recovery matters, what it means for different parts of the energy sector, and why crude oil faces less upside risk than many investors might expect, Bloomberg reported.
The Strait of Hormuz is the single most important oil chokepoint in the world. About a third of the globe's seaborne oil passes through it on the way from Persian Gulf exporters to global buyers.
When the Iran conflict escalated earlier this year, flows collapsed. Goldman estimates total crude and oil-product exports through the Strait fell to roughly 5 to 6 million barrels per day in March, down from about 22 to 24 million barrels per day before the conflict, Bloomberg reported.
#Iran #goldman #crude
Since then, something unexpected has happened. Prices have been falling. Not because the conflict ended, but because the market found a way around it.
Goldman Sachs ***** ysts Daan Struyven and Yulia Zhestkova Grigsby published a note this week laying out why the energy market's recovery matters, what it means for different parts of the energy sector, and why crude oil faces less upside risk than many investors might expect, Bloomberg reported.
The Strait of Hormuz is the single most important oil chokepoint in the world. About a third of the globe's seaborne oil passes through it on the way from Persian Gulf exporters to global buyers.
When the Iran conflict escalated earlier this year, flows collapsed. Goldman estimates total crude and oil-product exports through the Strait fell to roughly 5 to 6 million barrels per day in March, down from about 22 to 24 million barrels per day before the conflict, Bloomberg reported.
#Iran #goldman #crude
11 days 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
12 days ago
It's reasonable to **** ume that people only really talk about Taylor Swift's outfits because she's Taylor Swift. But even beyond the hype, the Grammy winner has proven time and again that she possesses an impeccable fashion sense. The "Shake It Off" hitmaker knows how to cleverly build each public appearance to reward a closer look, whether it's the best outfits Swift has worn in every era of her career or a casual 2026 street style moment during which Swift perfectly nailed the '70s nostalgia look with only two items of clothing. On May 15, 2026, she and her then-fiancé Travis Kelce were photographed enjoying a night out on the town in Manhattan. The singer-songwriter was wearing some of the most expensive jewelry out there, but her dreamy ensemble was what stole the show.
Aeon/Getty
Understandably, what everybody noticed first was the dress — a gorgeous, cream-colored midi scattered with faded blue olive sprigs. Paired with beige, strappy leather sandals, the "I Knew You Were Trouble" hitmaker looked like she'd walked straight out of an Emily Brontë or Jane Austen novel. Swift's lipstick, the one colorful stroke in an otherwise neutral palette, is definitely worth a closer look, too. The pop star opted for a rosy shade, though not so bright as to look jarring against the rest of the outfit, which consisted mostly of muted florals. It complemented everything seamlessly, hammering home that prairie vibe she was going for. Being one of her last date-night looks as a bride-to-be before the July 3 ceremony, it offered yet another look into why Swift's story-rich aesthetic is one of a kind, and why we keep chasing the details well after the moment has passed.
Read more: Male Celebrities Who Were Unrecognizable After Plastic Surgery
Aeon/Getty Images
#hitmaker
Aeon/Getty
Understandably, what everybody noticed first was the dress — a gorgeous, cream-colored midi scattered with faded blue olive sprigs. Paired with beige, strappy leather sandals, the "I Knew You Were Trouble" hitmaker looked like she'd walked straight out of an Emily Brontë or Jane Austen novel. Swift's lipstick, the one colorful stroke in an otherwise neutral palette, is definitely worth a closer look, too. The pop star opted for a rosy shade, though not so bright as to look jarring against the rest of the outfit, which consisted mostly of muted florals. It complemented everything seamlessly, hammering home that prairie vibe she was going for. Being one of her last date-night looks as a bride-to-be before the July 3 ceremony, it offered yet another look into why Swift's story-rich aesthetic is one of a kind, and why we keep chasing the details well after the moment has passed.
Read more: Male Celebrities Who Were Unrecognizable After Plastic Surgery
Aeon/Getty Images
#hitmaker
1 month ago
Platinum ****** et Management, an investment management company, released its Q2 2026 investor letter for "Platinum International Brands Fund". A copy of the letter can be downloaded here. The fund returned over 4% in the quarter but lost 14% over the past year, primarily due to the dominance of tech stocks amid an AI investment boom. Consumer-focused sectors underperformed due to weak sentiment and challenges such as high interest rates and rising oil prices, which have contributed to record-low consumer confidence. However, the fund's holdings remain fundamentally strong, with top holdings averaging 13% sales growth and 19% profit growth. The letter noted that positive developments include resumed job growth, reduced oil prices, and easing fiscal policy, which potentially enhance consumer sentiment. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Platinum International Brands Fund highlighted Caterpillar Inc. (NYSE:CAT) as a notable contributor. Caterpillar Inc. (NYSE:CAT) is a leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. On July 28, 2026, Caterpillar Inc. (NYSE:CAT) closed at $840.85 per share, reflecting a market capitalization of $387.29 billion. Caterpillar Inc. (NYSE:CAT) posted a one-month return of -15.19%, and its shares gained 93.69% over the past 52 weeks.
Platinum International Brands Fund stated the following regarding Caterpillar Inc. (NYSE:CAT) in its Q2 2026 investor update:
"Caterpillar Inc. (NYSE:CAT) (+36%) was another strong performer, shrugging off a 14% fall in profit. Steel is a key input and tariffs hurt; management is working on remedies, but they will take time. Beneath the surface, demand is heating up. Cat's engines and turbines power locomotives, ships, oil rigs, gas pipelines and now datacentres, a source of demand as ferocious as it is price-insensitive. Add a mining and energy complex emerging from a decade of underinvestment and a depressed construction sector turning the corner and the prospects look bright."
Caterpillar Inc. (NYSE:CAT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 87 hedge fund portfolios held Caterpillar Inc. (NYSE:CAT) at the end of the first quarter, up from 86 in the previous quarter. While we acknowledge the potential of Caterpillar Inc. (NYSE:CAT) 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.
#NYSE #letter #international #Consumer
In its Q2 2026 investor letter, Platinum International Brands Fund highlighted Caterpillar Inc. (NYSE:CAT) as a notable contributor. Caterpillar Inc. (NYSE:CAT) is a leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. On July 28, 2026, Caterpillar Inc. (NYSE:CAT) closed at $840.85 per share, reflecting a market capitalization of $387.29 billion. Caterpillar Inc. (NYSE:CAT) posted a one-month return of -15.19%, and its shares gained 93.69% over the past 52 weeks.
Platinum International Brands Fund stated the following regarding Caterpillar Inc. (NYSE:CAT) in its Q2 2026 investor update:
"Caterpillar Inc. (NYSE:CAT) (+36%) was another strong performer, shrugging off a 14% fall in profit. Steel is a key input and tariffs hurt; management is working on remedies, but they will take time. Beneath the surface, demand is heating up. Cat's engines and turbines power locomotives, ships, oil rigs, gas pipelines and now datacentres, a source of demand as ferocious as it is price-insensitive. Add a mining and energy complex emerging from a decade of underinvestment and a depressed construction sector turning the corner and the prospects look bright."
Caterpillar Inc. (NYSE:CAT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 87 hedge fund portfolios held Caterpillar Inc. (NYSE:CAT) at the end of the first quarter, up from 86 in the previous quarter. While we acknowledge the potential of Caterpillar Inc. (NYSE:CAT) 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.
#NYSE #letter #international #Consumer
2 months ago
ADNOC has approved a $6.2 billion final investment decision to develop the Umm Shaif Gas Cap, marking another step in its strategy to expand natural gas production and liquefied natural gas exports as global demand for gas continues to rise.
The offshore project, located at Abu Dhabi's longest-producing offshore field, is expected to deliver more than 600 million standard cubic feet per day of natural gas and ******* ociated gas liquids by 2030. According to ADNOC, that volume is equivalent to nearly 10% of the UAE's current daily gas consumption, supporting domestic energy security while increasing supplies available for international markets.
The development will be carried out alongside ADNOC's concession partners TotalEnergies, Eni and China National Petroleum Corporation.
As part of the project, ADNOC awarded three engineering, procurement and construction contracts worth a combined $5.1 billion to consortiums of UAE and international contractors. The company also approved a $365 million drilling program covering 14 wells, which will be executed by ADNOC Drilling over 18 months using three existing rigs.
The investment forms part of ADNOC's broader gas expansion strategy, which seeks to monetize the UAE's vast natural gas resources while growing its global LNG business. The company has previously announced plans to build a global LNG marketing and trading platform and is targeting 47 million tonnes per annum of marketable LNG capacity by 2035.
#natural #million #investment #offshore
The offshore project, located at Abu Dhabi's longest-producing offshore field, is expected to deliver more than 600 million standard cubic feet per day of natural gas and ******* ociated gas liquids by 2030. According to ADNOC, that volume is equivalent to nearly 10% of the UAE's current daily gas consumption, supporting domestic energy security while increasing supplies available for international markets.
The development will be carried out alongside ADNOC's concession partners TotalEnergies, Eni and China National Petroleum Corporation.
As part of the project, ADNOC awarded three engineering, procurement and construction contracts worth a combined $5.1 billion to consortiums of UAE and international contractors. The company also approved a $365 million drilling program covering 14 wells, which will be executed by ADNOC Drilling over 18 months using three existing rigs.
The investment forms part of ADNOC's broader gas expansion strategy, which seeks to monetize the UAE's vast natural gas resources while growing its global LNG business. The company has previously announced plans to build a global LNG marketing and trading platform and is targeting 47 million tonnes per annum of marketable LNG capacity by 2035.
#natural #million #investment #offshore
2 months ago
Bitdeer mined 990 bitcoin in June, up 388% year over year, as its self-mining hash rate reached 73 EH/s. The Singapore-based miner signed a 10-year lease for a 21.7 MW AI cloud data center in Johor Bahru, Malaysia.
June production increased from 921 bitcoin in May and 203 bitcoin in June 2025. Bitdeer's self-mining hash rate rose from 70.2 EH/s in May and 16.5 EH/s a year earlier, while total hash rate under management reached 86.1 EH/s.
"Bitcoin production of 990 BTC, up 388% year-over-year, and self-mining hashrate of 73.0 EH/s reflect continued strength across our mining platform," Chief Financial Officer Michael G. Potter said. Bitdeer ended June with 150 bitcoin, down from 171 at the end of May.
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Bitdeer's co-mining hash rate increased to 15.9 EH/s from 10 EH/s in May. Co-mining uses Bitdeer-owned rigs operated at third-party data centers, and its output is included in the company's reported bitcoin production.
#mining #bitdeer #rate
June production increased from 921 bitcoin in May and 203 bitcoin in June 2025. Bitdeer's self-mining hash rate rose from 70.2 EH/s in May and 16.5 EH/s a year earlier, while total hash rate under management reached 86.1 EH/s.
"Bitcoin production of 990 BTC, up 388% year-over-year, and self-mining hashrate of 73.0 EH/s reflect continued strength across our mining platform," Chief Financial Officer Michael G. Potter said. Bitdeer ended June with 150 bitcoin, down from 171 at the end of May.
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Bitdeer's co-mining hash rate increased to 15.9 EH/s from 10 EH/s in May. Co-mining uses Bitdeer-owned rigs operated at third-party data centers, and its output is included in the company's reported bitcoin production.
#mining #bitdeer #rate
2 months ago
Endeavour Silver Corp. (NYSE:EXK) is one of the undervalued stocks to buy according to the Wall Street. On June 18, Endeavour Silver announced positive results from its first exploration drilling campaign at the Terronera mine in Jalisco, Mexico, since 2020. The program, which included 53 drill holes across the La Luz and Terronera systems, successfully intersected high-grade silver and gold mineralization, effectively extending the known zones along strike and at depth.
Key intercepts included hole LL-43, which returned 2,607 g/t AgEq over 1.06 metres, and TRU-003, which yielded 686 g/t AgEq over 5.32 metres. These results validate the continuity of robust mineralized zones within the property and support Endeavour Silver Corp.'s (NYSE:EXK) efforts to refine mine design, particularly at the high-grade La Luz deposit, where production is currently targeted to begin in 2027.
Photo by Scottsdale Mint on Unsplash
Two drill rigs remain active at the site, with ongoing operations scheduled through the fourth quarter to further delineate the vein systems. Management believes that these findings demonstrate significant potential to grow mineral resources, extend the mine's operational life, and unlock additional value across the broader Terronera property.
Endeavour Silver Corp. (NYSE:EXK) is a mid-tier silver producer operating mines in Mexico and Peru, with a strong exploration portfolio across the Americas. The company focuses on organic growth and responsible mining to advance its goal of becoming a leading senior silver producer.
Key intercepts included hole LL-43, which returned 2,607 g/t AgEq over 1.06 metres, and TRU-003, which yielded 686 g/t AgEq over 5.32 metres. These results validate the continuity of robust mineralized zones within the property and support Endeavour Silver Corp.'s (NYSE:EXK) efforts to refine mine design, particularly at the high-grade La Luz deposit, where production is currently targeted to begin in 2027.
Photo by Scottsdale Mint on Unsplash
Two drill rigs remain active at the site, with ongoing operations scheduled through the fourth quarter to further delineate the vein systems. Management believes that these findings demonstrate significant potential to grow mineral resources, extend the mine's operational life, and unlock additional value across the broader Terronera property.
Endeavour Silver Corp. (NYSE:EXK) is a mid-tier silver producer operating mines in Mexico and Peru, with a strong exploration portfolio across the Americas. The company focuses on organic growth and responsible mining to advance its goal of becoming a leading senior silver producer.
2 months ago
A bird of prey which stops pigeons from interrupting play at Wimbledon treats the All England Club as "his playground", according to his handler.
Rufus, a Harris's hawk raised in Brigstock, Northamptonshire, has been responsible for keeping the courts pest-free for 18 years.
His handler Donna Davis said he is often recognised by tennis fans during the Championships, adding: "Everybody wants to stop and see Rufus, and it's so lovely.
"I feel very privileged to be here and fly my beautiful bird, and he comes back."
The unusual job came about after Davis spotted pigeons interrupting play during the 1999 Wimbledon final between Pete Sampras and Andre Agassi.
Rufus, a Harris's hawk raised in Brigstock, Northamptonshire, has been responsible for keeping the courts pest-free for 18 years.
His handler Donna Davis said he is often recognised by tennis fans during the Championships, adding: "Everybody wants to stop and see Rufus, and it's so lovely.
"I feel very privileged to be here and fly my beautiful bird, and he comes back."
The unusual job came about after Davis spotted pigeons interrupting play during the 1999 Wimbledon final between Pete Sampras and Andre Agassi.
3 months ago
ADES Holding, a Saudi Arabia-based oil and gas drilling services provider, has signed a deal worth SR1.07bn ($285m) to acquire Saudi Arabian Saipem in a move to expand its offshore fleet.
Saudi Arabian Saipem is a rig-owning entity and a subsidiary of the broader Saipem group. It represents the Italian contractor's shallow-water drilling activities in Saudi Arabia.
The transaction has been executed through ADES' indirectly owned subsidiary, ADES Saudi.
The acquisition includes five operational premium jackups, of which three are owned units, namely Perro Negro 7, Perro Negro 8 and Perro Negro 10. The remaining two – Perro Negro 11 and Perro Negro 13 – are leased units.
Currently, four of these rigs are operating in Saudi Arabia. Perro Negro 10 is operating under a charter in Mexico but retains a valid contract in Saudi Arabia.
Saudi Arabian Saipem is a rig-owning entity and a subsidiary of the broader Saipem group. It represents the Italian contractor's shallow-water drilling activities in Saudi Arabia.
The transaction has been executed through ADES' indirectly owned subsidiary, ADES Saudi.
The acquisition includes five operational premium jackups, of which three are owned units, namely Perro Negro 7, Perro Negro 8 and Perro Negro 10. The remaining two – Perro Negro 11 and Perro Negro 13 – are leased units.
Currently, four of these rigs are operating in Saudi Arabia. Perro Negro 10 is operating under a charter in Mexico but retains a valid contract in Saudi Arabia.
10 months ago
College basketball player dies after being injured during game
CBS News
A basketball player at a junior college in Oklahoma who was injured during a game has died, school officials said.
Connors State College sophomore Ethan Dietz died Tuesday after he was injured during the second half of a game Saturday in Texas, the school said in a statement posted to its Facebook page. A spokesperson for the college, Shannon Rigsby, said initial reports indicate Dietz suffered some kind of head injury, but that she didn't have any more information.
"Ethan exemplified what it means to be a Cowboy, to
CBS News
A basketball player at a junior college in Oklahoma who was injured during a game has died, school officials said.
Connors State College sophomore Ethan Dietz died Tuesday after he was injured during the second half of a game Saturday in Texas, the school said in a statement posted to its Facebook page. A spokesperson for the college, Shannon Rigsby, said initial reports indicate Dietz suffered some kind of head injury, but that she didn't have any more information.
"Ethan exemplified what it means to be a Cowboy, to
10 months ago
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As colder weather sets in, most Americans are lighting their fireplaces and turning on their electric heaters to stay warm. But there are a handful who have opted for a new, cost-effective way to heat their homes: bitcoin mining rigs.
The computing power required to mine cryptocurrency produces a lot of heat. In total, the industry generates around 100 TWh of heat annually, which is enough to heat a country the size of Finland, according to digital ****** et brokerage firm K33.
Don't Miss:
As colder weather sets in, most Americans are lighting their fireplaces and turning on their electric heaters to stay warm. But there are a handful who have opted for a new, cost-effective way to heat their homes: bitcoin mining rigs.
The computing power required to mine cryptocurrency produces a lot of heat. In total, the industry generates around 100 TWh of heat annually, which is enough to heat a country the size of Finland, according to digital ****** et brokerage firm K33.
Don't Miss:
1 yr. ago
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