16 hours ago
EPD yields 6.19% and ET yields 6.64%, turning a $100,000 equal split into $6,413 in annual passive income.
Energy Transfer cut its distribution 50% in 2020, while Enterprise has grown its payout for 27 consecutive years without a cut.
Energy Transfer is supplying roughly 900 MMcf/d to Oracle-run data centers, making AI power demand a key growth driver.
Building a portfolio and living off one are two completely different skills, and almost ****** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
Energy pays some of the highest yields in the market, and it carries a risk most income sectors avoid: commodity prices. When crude falls, an integrated major can lean on its refining business. A pure producer sees its cash flow rise and fall with oil and gas prices. A midstream operator collects fees on the volumes moving through its pipelines, plants and export docks, so its cash flow holds up better in a downturn.
#energy #income #yields
Energy Transfer cut its distribution 50% in 2020, while Enterprise has grown its payout for 27 consecutive years without a cut.
Energy Transfer is supplying roughly 900 MMcf/d to Oracle-run data centers, making AI power demand a key growth driver.
Building a portfolio and living off one are two completely different skills, and almost ****** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
Energy pays some of the highest yields in the market, and it carries a risk most income sectors avoid: commodity prices. When crude falls, an integrated major can lean on its refining business. A pure producer sees its cash flow rise and fall with oil and gas prices. A midstream operator collects fees on the volumes moving through its pipelines, plants and export docks, so its cash flow holds up better in a downturn.
#energy #income #yields
18 hours ago
McKenna Woods (ken_hairstylist), a hairstylist from Iowa, told TikTok about her allegedly disruptive client. Throughout his hair appointment, Woods said he had been making inappropriate comments and then using his supposed autism as an excuse.
Woods responded to a viral clip of her client, Chris, which accused her of being rude and mean. He also told others not to seek her services. Woods replied on TikTok, "I think this guy came in here thinking he's high and mighty because he's this upcoming rapper, a content creator."
Woods claimed she made small talk with her client, asking him how many followers he had on social media. She clarified that her issue wasn't his follower count but his alleged behavior in the salon. The hairstylist continued, "My problem is the way he acted in here, while my coworker had a client in here who is nine years old."
In a clip stitched to her TikTok, the nine-year-old can be overheard addressing Woods' client, saying, "Do you realize she has a boyfriend?" The client replied, "I'm not doing that. I'm just being autistic."
"And he's rapping. He's being very disruptive, being very disrespectful, making these comments about how he's autistic," Woods added. She alleged he was using his supposed condition to justify his behavior. In addition to comments about his mental health, Woods said he also made an inappropriate remark to her.
#woods #here #making
Woods responded to a viral clip of her client, Chris, which accused her of being rude and mean. He also told others not to seek her services. Woods replied on TikTok, "I think this guy came in here thinking he's high and mighty because he's this upcoming rapper, a content creator."
Woods claimed she made small talk with her client, asking him how many followers he had on social media. She clarified that her issue wasn't his follower count but his alleged behavior in the salon. The hairstylist continued, "My problem is the way he acted in here, while my coworker had a client in here who is nine years old."
In a clip stitched to her TikTok, the nine-year-old can be overheard addressing Woods' client, saying, "Do you realize she has a boyfriend?" The client replied, "I'm not doing that. I'm just being autistic."
"And he's rapping. He's being very disruptive, being very disrespectful, making these comments about how he's autistic," Woods added. She alleged he was using his supposed condition to justify his behavior. In addition to comments about his mental health, Woods said he also made an inappropriate remark to her.
#woods #here #making
1 day ago
American Idol alum Caleb Flynn has been sentenced to life without parole for the February 2026 murder of his wife Ashley.
The judge told Flynn his actions exhibited "layers of deceit, manipulation, and cruelty."
He claimed an intruder broke into their Ohio home and fatally shot Ashley as she slept.
American Idol alum Caleb Flynn has learned his fate, days after a jury convicted him of murdering his wife Ashley as she slept.
An Ohio judge sentenced the 40-year-old father to life in prison without the possibility of parole on Monday, explaining his actions exhibited "layers of deceit, manipulation, and cruelty." Flynn, who maintains his innocence, must also pay $20,000 in restitution to Ashley's parents for expenses related to her funeral.
#american #caleb #sentenced
The judge told Flynn his actions exhibited "layers of deceit, manipulation, and cruelty."
He claimed an intruder broke into their Ohio home and fatally shot Ashley as she slept.
American Idol alum Caleb Flynn has learned his fate, days after a jury convicted him of murdering his wife Ashley as she slept.
An Ohio judge sentenced the 40-year-old father to life in prison without the possibility of parole on Monday, explaining his actions exhibited "layers of deceit, manipulation, and cruelty." Flynn, who maintains his innocence, must also pay $20,000 in restitution to Ashley's parents for expenses related to her funeral.
#american #caleb #sentenced
1 day ago
American Idol star Caleb Flynn was sentenced to life in prison without the possibility of parole on Monday, after being found guilty of murdering his wife, Ashley Flynn, on February 16.
The 40-year-old broke down in tears as he was convicted of aggravated murder, felonious **** ault and tampering with evidence, after he staged the crime scene to make it appear as though an intruder was responsible for her death.
The jury deliberated for over two hours before they reached a verdict, and Miami County Common Pleas Judge Jeannine Pratt called his actions "abhorrent" before sentencing him to life behind bars.
Caleb was sentenced to life behind bars for murdering his wife
Before his sentence was read out, Caleb maintained in a statement in court that he did not kill his wife, and apologized for how he had spoken about Ashley in texts sent to his mistress, Alleigha Botner.
#life #ashley #behind #bars
The 40-year-old broke down in tears as he was convicted of aggravated murder, felonious **** ault and tampering with evidence, after he staged the crime scene to make it appear as though an intruder was responsible for her death.
The jury deliberated for over two hours before they reached a verdict, and Miami County Common Pleas Judge Jeannine Pratt called his actions "abhorrent" before sentencing him to life behind bars.
Caleb was sentenced to life behind bars for murdering his wife
Before his sentence was read out, Caleb maintained in a statement in court that he did not kill his wife, and apologized for how he had spoken about Ashley in texts sent to his mistress, Alleigha Botner.
#life #ashley #behind #bars
1 day ago
MTV / Via giphy.com
Disclaimer: Though people claim to be speaking from their own experiences with celebrities, BuzzFeed can't confirm the validity of these stories.
"He refused to let anyone but the server into the room and wouldn't talk to anyone but his photographer to say his order. So you can imagine the shock when asking a grown man his order and he has to say it to someone else first because he's so rude he can't even talk to you!
The entire group was horrible to boot and kept sending their food back, saying it wasn't done well enough or something was wrong. Most rude and inconsiderate person ever! And as you can imagine, the tip was horrible."
–u/Big-Setting
#imagine #rude #horrible #buzzfeed
Disclaimer: Though people claim to be speaking from their own experiences with celebrities, BuzzFeed can't confirm the validity of these stories.
"He refused to let anyone but the server into the room and wouldn't talk to anyone but his photographer to say his order. So you can imagine the shock when asking a grown man his order and he has to say it to someone else first because he's so rude he can't even talk to you!
The entire group was horrible to boot and kept sending their food back, saying it wasn't done well enough or something was wrong. Most rude and inconsiderate person ever! And as you can imagine, the tip was horrible."
–u/Big-Setting
#imagine #rude #horrible #buzzfeed
1 day ago
Caleb Flynn was found guilty of murdering his wife, Ashley Flynn.
An Ohio man who was found guilty of murdering his wife and staging the crime scene to make it seem as if an intruder had broken into their home and fatally shot the mother of two was sentenced to life in prison without the possibility of parole.
Caleb Flynn, 40, a former pastor who once appeared as a contestant on "American Idol" in 2013, was found guilty of aggravated murder and multiple counts of murder, felonious **** ault and tampering with evidence in connection with the death of his wife, 37-year-old Ashley Flynn.
Judge Jeannine Pratt called the former pastor's actions "abhorrent" and "quite honestly impossible to fathom" while handing down the life sentence on Monday.
Caleb Flynn called 911 early on Feb. 16 to report that his wife had been shot by an intruder at their home in Tipp City, north of Dayton. He was arrested three days later. Prosecutors alleged that Caleb Flynn "executed" his wife by shooting her twice in the back of the head in bed so that he could be with his mistress and manipulated the crime scene to make it seem as if an intruder had broken in through the garage.
#wife #intruder #crime #scene
An Ohio man who was found guilty of murdering his wife and staging the crime scene to make it seem as if an intruder had broken into their home and fatally shot the mother of two was sentenced to life in prison without the possibility of parole.
Caleb Flynn, 40, a former pastor who once appeared as a contestant on "American Idol" in 2013, was found guilty of aggravated murder and multiple counts of murder, felonious **** ault and tampering with evidence in connection with the death of his wife, 37-year-old Ashley Flynn.
Judge Jeannine Pratt called the former pastor's actions "abhorrent" and "quite honestly impossible to fathom" while handing down the life sentence on Monday.
Caleb Flynn called 911 early on Feb. 16 to report that his wife had been shot by an intruder at their home in Tipp City, north of Dayton. He was arrested three days later. Prosecutors alleged that Caleb Flynn "executed" his wife by shooting her twice in the back of the head in bed so that he could be with his mistress and manipulated the crime scene to make it seem as if an intruder had broken in through the garage.
#wife #intruder #crime #scene
1 day ago
The US Strategic Petroleum Reserve (SPR) dropped by almost 800,000 barrels last week, and the Trump administration moved forward with plans to sell another 40 million barrels in the coming months.
New data released on Monday by the US Department of Energy showed the US energy backstop sitting at 283 million barrels, down from 283.77 million the week prior.
That leaves about two weeks of US oil consumption in the reserve amid widespread worries about global stockpiles, which the head of Saudi Arabia's state producer on Monday called "scarily thin."
Amin Nasser, chief executive of Saudi Aramco, added at an Energy Intelligence Forum in London on Monday that releasing stockpiles will buy economies some time but won't fix the imbalances that have developed between supply and demand.
Yet these withdrawals in the US could soon accelerate after the Trump administration unveiled a request for bids from companies to buy up to 40 million barrels of crude oil from the SPR, with the aim of having the companies return those supplies "with additional premium barrels." The solicitation process is ongoing, and it's unclear if companies will agree to those terms.
#Companies #saudi #week
New data released on Monday by the US Department of Energy showed the US energy backstop sitting at 283 million barrels, down from 283.77 million the week prior.
That leaves about two weeks of US oil consumption in the reserve amid widespread worries about global stockpiles, which the head of Saudi Arabia's state producer on Monday called "scarily thin."
Amin Nasser, chief executive of Saudi Aramco, added at an Energy Intelligence Forum in London on Monday that releasing stockpiles will buy economies some time but won't fix the imbalances that have developed between supply and demand.
Yet these withdrawals in the US could soon accelerate after the Trump administration unveiled a request for bids from companies to buy up to 40 million barrels of crude oil from the SPR, with the aim of having the companies return those supplies "with additional premium barrels." The solicitation process is ongoing, and it's unclear if companies will agree to those terms.
#Companies #saudi #week
1 day ago
Caleb Flynn will spend the rest of his life behind bars for murdering his wife earlier this year.
The "American Idol" alum, 40, was sentenced to life in prison without the possibility of parole in an Ohio court Monday, Oct. 5, days after he was convicted on all charges. His trial concluded Sept. 29, when the jury returned the guilty verdict after three hours of deliberations.
In the early hours of Feb. 16, Caleb Flynn "executed" wife Ashley Flynn at their home with hopes of starting a new life with his mistress, according to prosecutors. He then staged the scene to look like a burglary before calling 911 to report that an intruder killed the 37-year-old, with whom he shared two children.
#caleb #hours #idol #ohio
The "American Idol" alum, 40, was sentenced to life in prison without the possibility of parole in an Ohio court Monday, Oct. 5, days after he was convicted on all charges. His trial concluded Sept. 29, when the jury returned the guilty verdict after three hours of deliberations.
In the early hours of Feb. 16, Caleb Flynn "executed" wife Ashley Flynn at their home with hopes of starting a new life with his mistress, according to prosecutors. He then staged the scene to look like a burglary before calling 911 to report that an intruder killed the 37-year-old, with whom he shared two children.
#caleb #hours #idol #ohio
1 day ago
A US man who once appeared on the TV talent competition American Idol has been sentenced to life in prison without the possibility of parole for murdering his wife.
Caleb Flynn, 40, was found guilty last week after a short deliberation by the jury, which rejected his claim that an intruder broke into his Ohio home and shot his wife, Ashley Flynn, as she slept.
He was also found guilty of eight additional charges, including aggravated murder and tampering with evidence.
Letters from his two daughters were read in court during the sentencing hearing on Monday, pleading with him to finally admit his guilt and questioning why he killed their mother.
Flynn, a former music pastor, fatally shot his wife, a 37-year-old teacher, in February before staging their home in Tipp City to appear as if someone had broken in through the garage.
#caleb
Caleb Flynn, 40, was found guilty last week after a short deliberation by the jury, which rejected his claim that an intruder broke into his Ohio home and shot his wife, Ashley Flynn, as she slept.
He was also found guilty of eight additional charges, including aggravated murder and tampering with evidence.
Letters from his two daughters were read in court during the sentencing hearing on Monday, pleading with him to finally admit his guilt and questioning why he killed their mother.
Flynn, a former music pastor, fatally shot his wife, a 37-year-old teacher, in February before staging their home in Tipp City to appear as if someone had broken in through the garage.
#caleb
1 day ago
Caleb Flynn, a former "American Idol" contestant and pastor who was convicted last week of murdering his wife, a crime he tried to blame on an intruder breaking into their home, was sentenced to life without the possibility of parole Monday in Ohio.
Flynn did not take the stand in his defense during the trial, but he proclaimed his innocence before he was sentenced.
"I have unfortunately lied about a lot of things over the last couple of years, but as I stand here before God, who is my ultimate judge, I am not lying when I say I did not kill my wife," Flynn said. "I will continue to fight for my innocence as long as the lord allows me to, as I did not kill my wife."
Flynn was found guilty of nine charges in total, including aggravated murder and three charges of murder, two charges of felonious **** ault and three charges of tampering with evidence.
Prosecutors said Flynn shot his wife, 37-year-old Ashley Flynn, twice in the back of the head while she was asleep in bed on Feb. 16. They alleged he then staged their Tipp City, Ohio, home to mimic a break-in and called 911 to claim an intruder was responsible for the murder.
#stand
Flynn did not take the stand in his defense during the trial, but he proclaimed his innocence before he was sentenced.
"I have unfortunately lied about a lot of things over the last couple of years, but as I stand here before God, who is my ultimate judge, I am not lying when I say I did not kill my wife," Flynn said. "I will continue to fight for my innocence as long as the lord allows me to, as I did not kill my wife."
Flynn was found guilty of nine charges in total, including aggravated murder and three charges of murder, two charges of felonious **** ault and three charges of tampering with evidence.
Prosecutors said Flynn shot his wife, 37-year-old Ashley Flynn, twice in the back of the head while she was asleep in bed on Feb. 16. They alleged he then staged their Tipp City, Ohio, home to mimic a break-in and called 911 to claim an intruder was responsible for the murder.
#stand
3 days ago
Chris Rock dished the big "problem with wokeness" is it turned its true believers into coldhearted prudes who are unwilling to forgive people for supposed transgressions, no matter how big or small.
The comedy icon weighed in on the "Woke 1.o era" during a Saturday interview with The New York Times in which he compared it to the Old Testament… or what Jews simply refer to as the Bible.
Rock said it was "great" that society became more concerned with how "marginalized" people are treated in recent years, but he said the movement has gone way too far and become ruthless.
"The problem with wokeness is we're in the Old Testament right now, okay," Rock said. "The Old Testament has no forgiveness. The Old Testament didn't work, so they had to write a remix called the New Testament."
The Interview co-host David Marchese followed up by saying there has been a lot of talk about it lately, especially after Rep. Alexandria Ocasio-Cortez (D-NY) declared "Woke 1 was crazy!" back in August.
#people
The comedy icon weighed in on the "Woke 1.o era" during a Saturday interview with The New York Times in which he compared it to the Old Testament… or what Jews simply refer to as the Bible.
Rock said it was "great" that society became more concerned with how "marginalized" people are treated in recent years, but he said the movement has gone way too far and become ruthless.
"The problem with wokeness is we're in the Old Testament right now, okay," Rock said. "The Old Testament has no forgiveness. The Old Testament didn't work, so they had to write a remix called the New Testament."
The Interview co-host David Marchese followed up by saying there has been a lot of talk about it lately, especially after Rep. Alexandria Ocasio-Cortez (D-NY) declared "Woke 1 was crazy!" back in August.
#people
5 days ago
Anas Marwah and Asala Maleh have built an audience of more than 65 million followers through family YouTube vlogs
Speaking with PEOPLE ahead of their sold-out live show at the Prudential Center in Newark, the pair open up about how authenticity has contributed to their longevity online
They also share how they protect their family life, including their two children, Mila and Noah, online
When Anas Marwah and Asala Maleh look back on their careers at age 70, they don't want to have any regrets.
The content creators, who are also married with two children, can trace the origins of their relationship right alongside the origins of their wildly successful social media careers. The pair first got their start as individual online creators on the now-defunct social media platform Vine, then met on Snapchat and began their now years-long journey to build their own social media empire.
Since first connecting and building their careers and family together, the pair's online reach has spiraled. They're best known for their family YouTube vlogs, which they create with a core mission of making "screen time family time again." Despite their over 65 million followers, the pair are adamant they don't want to lose the magic that helped them build their platform.
"Authenticity is probably our number one thing," says Anas, 34. This pursuit of making sure all their content is authentic has allowed them to understand what their audience wants for so long — and to deliver on it each and every day. Most recently, the pair have decided to translate the lovable excitement of their YouTube vlogs into their first-ever live show: "The Anazala Family Live," which will see the couple take over the Prudential Center in Newark. A testament to the pair's loyal audience: the event sold out in just 25 minutes.
Asala and Anas.
Credit: The Anazala Family
#youtube
Speaking with PEOPLE ahead of their sold-out live show at the Prudential Center in Newark, the pair open up about how authenticity has contributed to their longevity online
They also share how they protect their family life, including their two children, Mila and Noah, online
When Anas Marwah and Asala Maleh look back on their careers at age 70, they don't want to have any regrets.
The content creators, who are also married with two children, can trace the origins of their relationship right alongside the origins of their wildly successful social media careers. The pair first got their start as individual online creators on the now-defunct social media platform Vine, then met on Snapchat and began their now years-long journey to build their own social media empire.
Since first connecting and building their careers and family together, the pair's online reach has spiraled. They're best known for their family YouTube vlogs, which they create with a core mission of making "screen time family time again." Despite their over 65 million followers, the pair are adamant they don't want to lose the magic that helped them build their platform.
"Authenticity is probably our number one thing," says Anas, 34. This pursuit of making sure all their content is authentic has allowed them to understand what their audience wants for so long — and to deliver on it each and every day. Most recently, the pair have decided to translate the lovable excitement of their YouTube vlogs into their first-ever live show: "The Anazala Family Live," which will see the couple take over the Prudential Center in Newark. A testament to the pair's loyal audience: the event sold out in just 25 minutes.
Asala and Anas.
Credit: The Anazala Family
#youtube
5 days ago
Kylie Kelce issued a "royal correction" on this week's installment of her "Not Gonna Lie" podcast.
Kelce explained that she didn't mean to be rude in how she referred to Kate Middleton on a recent episode of the podcast — but now she's up to speed on how to address members of the British royal family.
More from Variety
Tom Cruise Welcomes Prince William and Kate Middleton at 'Digger' World Premiere in London: 'We Love Them and Really Appreciate What They Do for the Arts'
Prince William and Kate Middleton Attend BAFTA Film Awards Amid Royal Family Drama
#prince #family
Kelce explained that she didn't mean to be rude in how she referred to Kate Middleton on a recent episode of the podcast — but now she's up to speed on how to address members of the British royal family.
More from Variety
Tom Cruise Welcomes Prince William and Kate Middleton at 'Digger' World Premiere in London: 'We Love Them and Really Appreciate What They Do for the Arts'
Prince William and Kate Middleton Attend BAFTA Film Awards Amid Royal Family Drama
#prince #family
16 days ago
A Wall Street Journal report on September 16 revealed that ExxonMobil Holdings Corporation (NYSE:XOM) is nearing a preliminary agreement with Venezuela's state-owned PDVSA, potentially marking its return to the country almost two decades after its ***** ets were nationalized. According to Reuters, Exxon has shown interest in the large Petromonagas heavy oil project in the Orinoco Belt, as well as in areas in the neighboring Carabobo block.
While the talks are still in their preliminary phase and could still fall apart or be delayed, they mark a major turnaround from Exxon's previous stance on Venezuela. The company's CEO, Darren Woods, stated in January that the country was "uninvestable" without durable investment protections, legal reforms, and changes to its hydrocarbon laws.
The development comes amid a broader push by the Trump administration to open Venezuela's oil industry to American companies and revive the country's dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total.
Venezuela could provide Exxon with access to an enormous resource base at a time when the company is actively seeking low-cost and long-duration ***** ets. The fields under consideration are estimated to contain more than 50 billion barrels of oil buried underground.
Exxon already holds an advantage through its previous experience in the country. Petromonagas, formerly called Cerro Negro, was once the energy firm's flagship project in Venezuela, giving it familiarity with the country's vast heavy and extra-heavy crude resources. Petromonagas also remains one of the few Venezuelan projects with an operational upgrader capable of turning the Orinoco's extra-heavy crude into lighter exportable grades.
#heavy #project
While the talks are still in their preliminary phase and could still fall apart or be delayed, they mark a major turnaround from Exxon's previous stance on Venezuela. The company's CEO, Darren Woods, stated in January that the country was "uninvestable" without durable investment protections, legal reforms, and changes to its hydrocarbon laws.
The development comes amid a broader push by the Trump administration to open Venezuela's oil industry to American companies and revive the country's dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total.
Venezuela could provide Exxon with access to an enormous resource base at a time when the company is actively seeking low-cost and long-duration ***** ets. The fields under consideration are estimated to contain more than 50 billion barrels of oil buried underground.
Exxon already holds an advantage through its previous experience in the country. Petromonagas, formerly called Cerro Negro, was once the energy firm's flagship project in Venezuela, giving it familiarity with the country's vast heavy and extra-heavy crude resources. Petromonagas also remains one of the few Venezuelan projects with an operational upgrader capable of turning the Orinoco's extra-heavy crude into lighter exportable grades.
#heavy #project
16 days ago
Americans have paid about $97 billion more for fuel since the Iran war started in late February, roughly $740 extra per household, according to CNN. President Trump says prices will come down after the midterms. The CEO of Chevron just said publicly he does not see how that happens quickly.
Mike Wirth, Chevron's chairman and chief executive, spoke at a University of Texas at Austin energy conference on September 11. He told the audience that the mechanisms that helped absorb the oil supply shock earlier in the conflict have largely been used up, and that prices are more likely to rise than fall over the next few months.
When the U.S.-Iran conflict began, the oil market had several ways to handle the disruption. Countries could release crude from strategic reserves. Commercial inventories could be drawn down. The U.S. eased restrictions on sanctioned crude stored on vessels at sea. Those measures helped limit the initial price spike.
"Those have largely now played out," Wirth said. The energy system no longer has the buffers it had when the war began.
The loss of flexibility became more acute after attacks knocked out a major Saudi crude pipeline that had been bypassing the Strait of Hormuz. That single disruption put an estimated 2.5 million barrels of oil per day in limbo, tightening a market that was already running short on supply.
#crude #prices #energy #conflict
Mike Wirth, Chevron's chairman and chief executive, spoke at a University of Texas at Austin energy conference on September 11. He told the audience that the mechanisms that helped absorb the oil supply shock earlier in the conflict have largely been used up, and that prices are more likely to rise than fall over the next few months.
When the U.S.-Iran conflict began, the oil market had several ways to handle the disruption. Countries could release crude from strategic reserves. Commercial inventories could be drawn down. The U.S. eased restrictions on sanctioned crude stored on vessels at sea. Those measures helped limit the initial price spike.
"Those have largely now played out," Wirth said. The energy system no longer has the buffers it had when the war began.
The loss of flexibility became more acute after attacks knocked out a major Saudi crude pipeline that had been bypassing the Strait of Hormuz. That single disruption put an estimated 2.5 million barrels of oil per day in limbo, tightening a market that was already running short on supply.
#crude #prices #energy #conflict
16 days ago
California Resources Corporation (NYSE:CRC) announced on September 17 that it had agreed to sell its Uinta Basin **** ets, located mostly in Utah and Colorado, to an undisclosed buyer for $90 million in cash. The company had come to own the Uinta **** ets, which span about 100,000 net acres, after it acquired Berry Corp last year. However, CRC considered them non-core to its operations. The net proceeds from the sale will be used for shareholder returns and other corporate purposes.
Francisco Leon, President and CEO of California Resources Corporation, commented:
"Today's transaction strengthens our business. The monetization of our Uinta Basin **** ets sharpens our focus on California and captures additional value from the Berry merger. This transaction enhances our capital allocation flexibility, allowing us to invest in higher-return opportunities within the Golden State and supports our shareholder return strategy. The sale also helps offset the purchase price of our recent midstream transaction."
The transaction is expected to close by year-end, subject to the receipt of certain third-party consents and other customary conditions.
The sale will allow CRC to redeploy the $90 million toward **** ets that are central to its operating strategy while avoiding additional capital commitments to Uinta. The company already stated in its Q2 earnings call that Uinta has higher capital intensity, higher break-evens, lower crude quality, higher transportation and operating costs, and steeper declines. Therefore, the sale removes a portfolio distraction at a time when CRC is concentrating investment in California infrastructure and production.
#uinta #assets #transaction #capital
Francisco Leon, President and CEO of California Resources Corporation, commented:
"Today's transaction strengthens our business. The monetization of our Uinta Basin **** ets sharpens our focus on California and captures additional value from the Berry merger. This transaction enhances our capital allocation flexibility, allowing us to invest in higher-return opportunities within the Golden State and supports our shareholder return strategy. The sale also helps offset the purchase price of our recent midstream transaction."
The transaction is expected to close by year-end, subject to the receipt of certain third-party consents and other customary conditions.
The sale will allow CRC to redeploy the $90 million toward **** ets that are central to its operating strategy while avoiding additional capital commitments to Uinta. The company already stated in its Q2 earnings call that Uinta has higher capital intensity, higher break-evens, lower crude quality, higher transportation and operating costs, and steeper declines. Therefore, the sale removes a portfolio distraction at a time when CRC is concentrating investment in California infrastructure and production.
#uinta #assets #transaction #capital
16 days ago
Chevron Corporation (NYSE:CVX) is about to significantly expand its operations in Venezuela. The company's CFO, Eimear Bonner, revealed at a Barclays conference on September 8 that the American oil giant plans to more than double the number of oil rigs it operates in the country as part of its five-year plan to increase output.
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
16 days ago
Enbridge Inc. (NYSE:ENB) has declined by around 17% since hitting its record high in May, likely as a result of rising bond yields, lack of visibility on the company's 5% growth guidance through the end of the decade, and the recently closed equity offering intended to fund the midstream operator's strategic acquisitions.
However, BMO Capital sees this pullback as an opportunity and on September 15, the firm upgraded ENB from 'Market Perform' to 'Outperform', while also slightly raising its price target from C$79 to C$79.50. The target boost implies an upside of 18% from the current levels.
The **** yst believes that Enbridge's scale, limited commodity exposure, and diversified **** ets are underappreciated. BMO also cited the company's improving visibility on growth, robust backlog, opportunistic acquisitions, and improved balance sheet as reasons behind the upgrade.
Enbridge's aggressive expansion strategy adds significantly to its bull case. The company announced on September 9 that it would acquire Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its US liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other **** ets. The midstream operator expects the acquisition to be accretive to distributable cash flow per share in the first full year of ownership.
Similarly, Enbridge announced last month that it had agreed to acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash, further bolstering its presence in the prolific Permian Basin. The acquired **** ets have an average remaining contract life of about 10 years, providing stable long-term cash flows.
#visibility #target
However, BMO Capital sees this pullback as an opportunity and on September 15, the firm upgraded ENB from 'Market Perform' to 'Outperform', while also slightly raising its price target from C$79 to C$79.50. The target boost implies an upside of 18% from the current levels.
The **** yst believes that Enbridge's scale, limited commodity exposure, and diversified **** ets are underappreciated. BMO also cited the company's improving visibility on growth, robust backlog, opportunistic acquisitions, and improved balance sheet as reasons behind the upgrade.
Enbridge's aggressive expansion strategy adds significantly to its bull case. The company announced on September 9 that it would acquire Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its US liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other **** ets. The midstream operator expects the acquisition to be accretive to distributable cash flow per share in the first full year of ownership.
Similarly, Enbridge announced last month that it had agreed to acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash, further bolstering its presence in the prolific Permian Basin. The acquired **** ets have an average remaining contract life of about 10 years, providing stable long-term cash flows.
#visibility #target
17 days ago
The S&P 500 Index ($SPX) (SPY) closed up by +0.17% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.67%. December E-mini S&P futures (ESZ26) rose +0.20%, and December E-mini Nasdaq futures (NQZ26) rose +0.70%.
Stock indexes settled mixed on Friday, with the broader market recovering from early losses as short covering emerged after crude oil prices gave up an early advance and fell more than -1% on hopes that diplomacy could resume crude flows from the Middle East. Stock indexes also found support from strength in chipmakers and AI-infrastructure stocks, along with a rally in cryptocurrency-exposed stocks.
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JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
#index #Friday #mini
Stock indexes settled mixed on Friday, with the broader market recovering from early losses as short covering emerged after crude oil prices gave up an early advance and fell more than -1% on hopes that diplomacy could resume crude flows from the Middle East. Stock indexes also found support from strength in chipmakers and AI-infrastructure stocks, along with a rally in cryptocurrency-exposed stocks.
Elon Musk, Who Became the World's First Trillionaire, Still Sleeps in a Tiny $50,000 House Where His Mom Uses the Garage — 'It's Kinda Awesome Though'
How to Play AMZN Stock as Amazon Unveils Project Mercury
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
#index #Friday #mini
17 days ago
The dollar index (DXY00) fell from a 7-week high on Friday and finished down by -0.03%. The dollar gave its advance on Friday on weaker-than-expected US economic news that showed Aug manufacturing production and Aug leading indicators unexpectedly declined. Also, Friday's -1% fall in WTI crude oil eased inflation expectations and could persuade the Fed to loosen monetary policy, a bearish factor for the dollar.
The dollar initially moved higher on Friday on weakness in the yen, which fell to a 2-week low today. Higher T-note yields on Friday also supported the dollar. The dollar also has carryover support from Wednesday when the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year. The dollar fell from its best level after US
Dollar Gains on Yen Weakness and Higher T-note Yields
Wall Street's Favorite Safe Haven Could Be In Trouble. How Investors Should Play Gold Here.
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#Friday #yields
The dollar initially moved higher on Friday on weakness in the yen, which fell to a 2-week low today. Higher T-note yields on Friday also supported the dollar. The dollar also has carryover support from Wednesday when the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year. The dollar fell from its best level after US
Dollar Gains on Yen Weakness and Higher T-note Yields
Wall Street's Favorite Safe Haven Could Be In Trouble. How Investors Should Play Gold Here.
Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!
#Friday #yields
17 days ago
October WTI crude oil (CLV26) closed down -1.61 (-1.58%) on Friday, and October RBOB gasoline (RBV26) closed up +0.0203 (+0.58%).
Crude oil and gasoline prices settled mixed on Friday. Crude prices were under pressure on Friday on hopes that diplomacy could end hostilities in the Middle East, leading to the resumption of crude flows from the region.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Supported by Middle East Supply Disruptions
Nat-Gas Prices Rebound on Pre-Weekend Short Covering
#crude
Crude oil and gasoline prices settled mixed on Friday. Crude prices were under pressure on Friday on hopes that diplomacy could end hostilities in the Middle East, leading to the resumption of crude flows from the region.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Supported by Middle East Supply Disruptions
Nat-Gas Prices Rebound on Pre-Weekend Short Covering
#crude
17 days ago
October Nymex natural gas (NGV26) on Friday closed up +0.011 (+0.38%).
Nat-gas prices recovered from a 1-week low on Friday and settled higher on some pre-weekend short covering. Nat-gas prices initially moved lower on Friday amid forecasts of cooler US weather, which could reduce nat-gas demand from electricity providers for air conditioning. The Commodity Weather Group said Friday that forecasts shifted cooler, with above-average temperatures now covering a smaller portion of the South and Southeast from September 23 to October 2.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Retreat on Hopes Middle East Energy Exports to Recover
Crude Prices Supported by Middle East Supply Disruptions
#prices #east #forecasts
Nat-gas prices recovered from a 1-week low on Friday and settled higher on some pre-weekend short covering. Nat-gas prices initially moved lower on Friday amid forecasts of cooler US weather, which could reduce nat-gas demand from electricity providers for air conditioning. The Commodity Weather Group said Friday that forecasts shifted cooler, with above-average temperatures now covering a smaller portion of the South and Southeast from September 23 to October 2.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Retreat on Hopes Middle East Energy Exports to Recover
Crude Prices Supported by Middle East Supply Disruptions
#prices #east #forecasts
17 days ago
On September 18, Prudential Financial (NYSE:PRU) announced it will sell every share it holds in Alexforbes, a company listed on the Johannesburg Stock Exchange. Two buyers are splitting the stake. Alexforbes will repurchase roughly 372.8 million shares itself, and ARC AF Holdings will take about 74.1 million more. The package is worth about $185 million, a small number for a company managing $1.642 trillion. But the message matters more than the money. A plan Prudential laid out in August is now turning into signed agreements.
The logic is easy to follow. Prudential wants to operate in fewer places and put its money, people and attention where it thinks it can win for years. Andy Sullivan, the chief executive, says the aim is to lean harder on ***** et management, retirement and protection, and get those units working together more closely. David Legher, who leads emerging markets, called Alexforbes a successful investment, so this reads as a planned exit rather than a retreat from a problem.
The core business is giving management room to be choosy. On August 4, Prudential reported second-quarter net income of $985 million, up from $533 million a year earlier. That happened even though a charge from the yearly ***** umption update grew to $299 million from $134 million, so the underlying engine ran strong enough to absorb a bigger hit. The company also returned $743 million to shareholders in the quarter and held $4.2 billion in highly liquid ***** ets at the parent level. That does not look like a seller in a hurry.
Start with what has not happened yet. The deals are expected to close in the first half of 2027, and they still need Alexforbes shareholders to approve the buyback, along with regulatory sign-off. Until then, $185 million is an agreed price, not cash in the bank. Prudential also said New Veld's involvement continues before completion, so the company stays tied to the ***** et for now.
Then there is the size. Set against those trillions in ***** ets, this sale will not move results either way. Its value is strategic, and strategy takes years to judge. Prudential is giving up a foothold in a partnership it called important, and its remaining businesses have their own snags. Sales in Prudential of ***** an are suspended, and management said that weighed on international results even as earnings held up.
#august #money
The logic is easy to follow. Prudential wants to operate in fewer places and put its money, people and attention where it thinks it can win for years. Andy Sullivan, the chief executive, says the aim is to lean harder on ***** et management, retirement and protection, and get those units working together more closely. David Legher, who leads emerging markets, called Alexforbes a successful investment, so this reads as a planned exit rather than a retreat from a problem.
The core business is giving management room to be choosy. On August 4, Prudential reported second-quarter net income of $985 million, up from $533 million a year earlier. That happened even though a charge from the yearly ***** umption update grew to $299 million from $134 million, so the underlying engine ran strong enough to absorb a bigger hit. The company also returned $743 million to shareholders in the quarter and held $4.2 billion in highly liquid ***** ets at the parent level. That does not look like a seller in a hurry.
Start with what has not happened yet. The deals are expected to close in the first half of 2027, and they still need Alexforbes shareholders to approve the buyback, along with regulatory sign-off. Until then, $185 million is an agreed price, not cash in the bank. Prudential also said New Veld's involvement continues before completion, so the company stays tied to the ***** et for now.
Then there is the size. Set against those trillions in ***** ets, this sale will not move results either way. Its value is strategic, and strategy takes years to judge. Prudential is giving up a foothold in a partnership it called important, and its remaining businesses have their own snags. Sales in Prudential of ***** an are suspended, and management said that weighed on international results even as earnings held up.
#august #money
17 days ago
Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated ****** ets—and may continue to in the future.
So, what kind of week has it been?
Gold took a more volatile path than expected but rebounded from a post-FOMC low near $4,260/oz to trade just above $4,350/oz shortly after the US market open on Friday, putting the yellow metal in position for a moderate weekly gain.
The Federal Reserve delivered the week's main event on Wednesday, unanimously raising policy rates by 25 basis points. Gold's sharp initial drop appeared tied less to the hike itself than to projections showing elevated inflation expectations and another 25-basis-point increase before the end of 2026.
Thursday brought the countermove as crude oil slid back toward and then below $100 per barrel, US Treasury yields eased, and gold recovered to around $4,360/oz. The Bank of ****** an's overnight rate hike to 1.25% added another tailwind into Friday.
#Friday #weekly #welcome
So, what kind of week has it been?
Gold took a more volatile path than expected but rebounded from a post-FOMC low near $4,260/oz to trade just above $4,350/oz shortly after the US market open on Friday, putting the yellow metal in position for a moderate weekly gain.
The Federal Reserve delivered the week's main event on Wednesday, unanimously raising policy rates by 25 basis points. Gold's sharp initial drop appeared tied less to the hike itself than to projections showing elevated inflation expectations and another 25-basis-point increase before the end of 2026.
Thursday brought the countermove as crude oil slid back toward and then below $100 per barrel, US Treasury yields eased, and gold recovered to around $4,360/oz. The Bank of ****** an's overnight rate hike to 1.25% added another tailwind into Friday.
#Friday #weekly #welcome
18 days ago
Sept 18 (Reuters) - US equity funds recorded outflows for a fourth consecutive week in the week to September 18, as rising crude oil prices heightened inflation concerns and expectations of a Federal Reserve rate hike added to investor caution ahead of its policy decision.
US equity funds recorded net redemptions of $31.44 billion during the week, largely matching the $32 billion withdrawn a week earlier, LSEG Lipper data showed.
Crude oil prices rose to four-month highs during the week, fueling inflation concerns and lifting Treasury yields, which weighed on growth-oriented funds.
The Fed raised interest rates by 25 basis points on Wednesday and signaled that further tightening may be needed to curb inflation fueled by higher energy costs linked to the war in Iran.
Investors withdrew $28.71 billion, $1.73 billion and $3.16 billion from US large-cap, mid-cap and multi-cap funds, respectively. In contrast, small-cap funds attracted $568 million in weekly inflows.
#funds #recorded #concerns
US equity funds recorded net redemptions of $31.44 billion during the week, largely matching the $32 billion withdrawn a week earlier, LSEG Lipper data showed.
Crude oil prices rose to four-month highs during the week, fueling inflation concerns and lifting Treasury yields, which weighed on growth-oriented funds.
The Fed raised interest rates by 25 basis points on Wednesday and signaled that further tightening may be needed to curb inflation fueled by higher energy costs linked to the war in Iran.
Investors withdrew $28.71 billion, $1.73 billion and $3.16 billion from US large-cap, mid-cap and multi-cap funds, respectively. In contrast, small-cap funds attracted $568 million in weekly inflows.
#funds #recorded #concerns
18 days ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Silver (SI=F) December futures opened at $65.76 per ounce on Friday, September 18, 2026, down 0.5% from Thursday's close but more than $2 higher than yesterday's opening price. Silver prices surged this morning, reaching $67.47 as of 7:05 a.m. ET.
Until today, silver prices bounced around the $63 to $64 range, but broke out of those bookends by a wide margin this morning. Today's opening price set the highest opening price of the week, and silver is surging this morning, hitting a high of $67.89.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
And oil prices are responding as well. Wednesday morning, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday at this time, prices were at over $99 a barrel, and this morning, they're $98.51 as of 7:05 a.m. ET.
#disclosure
Silver (SI=F) December futures opened at $65.76 per ounce on Friday, September 18, 2026, down 0.5% from Thursday's close but more than $2 higher than yesterday's opening price. Silver prices surged this morning, reaching $67.47 as of 7:05 a.m. ET.
Until today, silver prices bounced around the $63 to $64 range, but broke out of those bookends by a wide margin this morning. Today's opening price set the highest opening price of the week, and silver is surging this morning, hitting a high of $67.89.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
And oil prices are responding as well. Wednesday morning, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday at this time, prices were at over $99 a barrel, and this morning, they're $98.51 as of 7:05 a.m. ET.
#disclosure
18 days ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Gold (GC=F) December futures opened at $4,381.60 per troy ounce on Friday, September 18, 2026, down 0.4% from Thursday's closing price. Gold is moving upward this morning at $4,421.40 per troy ounce as of 6:46 a.m. ET.
Gold prices have held in the $4,300 range since last Friday, but this morning they broke above $4,400, hitting a weekly high of $4,439.80.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
Oil prices continue to move lower as a result. On Wednesday at this time, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday morning, prices were at over $99 a barrel, and this morning, they're $98.46 as of 6:39 a.m. ET.
#morning #prices #ounce #barrel
Gold (GC=F) December futures opened at $4,381.60 per troy ounce on Friday, September 18, 2026, down 0.4% from Thursday's closing price. Gold is moving upward this morning at $4,421.40 per troy ounce as of 6:46 a.m. ET.
Gold prices have held in the $4,300 range since last Friday, but this morning they broke above $4,400, hitting a weekly high of $4,439.80.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
Oil prices continue to move lower as a result. On Wednesday at this time, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday morning, prices were at over $99 a barrel, and this morning, they're $98.46 as of 6:39 a.m. ET.
#morning #prices #ounce #barrel
18 days ago
Oil prices have been on a wild ride this year, and most investors **** ume the story is simple: Less crude moving through the Strait of Hormuz means higher prices at the pump.
Exxon Mobil's leadership says that take misses the real problem.
Speaking at the Barclays 40th Annual Energy Power Conference on Sept. 9, Chief Financial Officer Neil Hansen told **** ysts the bigger threat to the energy system isn't crude supply, but refining.
The distinction matters for anyone holding Exxon Mobil (XOM) stock or watching gas prices climb, as it changes how long the pain might last and which part of the business could benefit.
Hansen explained that when a shock like the Middle East conflict unfolds, markets usually respond in a similar pattern.
#hansen #energy
Exxon Mobil's leadership says that take misses the real problem.
Speaking at the Barclays 40th Annual Energy Power Conference on Sept. 9, Chief Financial Officer Neil Hansen told **** ysts the bigger threat to the energy system isn't crude supply, but refining.
The distinction matters for anyone holding Exxon Mobil (XOM) stock or watching gas prices climb, as it changes how long the pain might last and which part of the business could benefit.
Hansen explained that when a shock like the Middle East conflict unfolds, markets usually respond in a similar pattern.
#hansen #energy
18 days ago
On September 16, Evolution Petroleum Corporation (NYSEAMERICAN:EPM) held its fiscal fourth-quarter and full-year 2026 earnings call, and the numbers told a story of a company climbing out of a rough patch. Revenue jumped 20% sequentially to $24.2 million as oil prices realized before hedge settlements shot up 49% year over year to $90.74 a barrel. Adjusted EBITDA more than doubled to $6.5 million. After a bruising third quarter, the fourth quarter finally looked like the recovery management had promised investors back in May.
The fourth-quarter turnaround wasn't just about crude. NGL prices realized $32.49 a barrel, up 27% year over year, and because Evolution leaves its NGL production entirely unhedged, every dollar of that gain flowed straight through. That combination of higher liquids pricing, growing production, and the roll-off of a prior-period transportation adjustment at the Delhi Field pushed operating cash flow to $6.8 million in the quarter, nearly double the $3.5 million generated in the third quarter.
Behind the quarterly numbers sits a longer-term shift in how Evolution makes money. The company closed a roughly $16 million acquisition of mineral and royalty acreage in the Permian's Midland Basin after the fiscal year ended, adding about 3,420 net royalty acres and more than 200 barrels of oil equivalent per day of current production, all without Evolution spending a dime on development. That mirrors what's already happening in the SCOOP/STACK play, where fourth-quarter production climbed 14% year over year to 1,275 BOE per day while unit operating costs fell to $10.33 a barrel. Evolution also replaced more than 100% of the 2.6 million barrels of oil equivalent it produced during the year, ending fiscal 2026 with 27.2 million barrels of proved reserves, an outcome that matters directly to a dividend now in its 52nd consecutive quarter.
Not every part of the business bounced back. Average daily production fell 4% year over year to 6,901 barrels of oil equivalent per day, largely because the flush production from new Chaveroo wells that boosted last year's fourth quarter has since tapered off. Natural gas pricing remained the softest spot in the portfolio, especially at the Jonah Field, where CEO Kelly Loyd said "regional differentials have weighed on realizations" even as broader demand for gas keeps growing. CFO Ryan Stash noted that stronger oil and NGL results helped offset "continued weakness in natural gas realizations, particularly at Jonah."
#barrel
The fourth-quarter turnaround wasn't just about crude. NGL prices realized $32.49 a barrel, up 27% year over year, and because Evolution leaves its NGL production entirely unhedged, every dollar of that gain flowed straight through. That combination of higher liquids pricing, growing production, and the roll-off of a prior-period transportation adjustment at the Delhi Field pushed operating cash flow to $6.8 million in the quarter, nearly double the $3.5 million generated in the third quarter.
Behind the quarterly numbers sits a longer-term shift in how Evolution makes money. The company closed a roughly $16 million acquisition of mineral and royalty acreage in the Permian's Midland Basin after the fiscal year ended, adding about 3,420 net royalty acres and more than 200 barrels of oil equivalent per day of current production, all without Evolution spending a dime on development. That mirrors what's already happening in the SCOOP/STACK play, where fourth-quarter production climbed 14% year over year to 1,275 BOE per day while unit operating costs fell to $10.33 a barrel. Evolution also replaced more than 100% of the 2.6 million barrels of oil equivalent it produced during the year, ending fiscal 2026 with 27.2 million barrels of proved reserves, an outcome that matters directly to a dividend now in its 52nd consecutive quarter.
Not every part of the business bounced back. Average daily production fell 4% year over year to 6,901 barrels of oil equivalent per day, largely because the flush production from new Chaveroo wells that boosted last year's fourth quarter has since tapered off. Natural gas pricing remained the softest spot in the portfolio, especially at the Jonah Field, where CEO Kelly Loyd said "regional differentials have weighed on realizations" even as broader demand for gas keeps growing. CFO Ryan Stash noted that stronger oil and NGL results helped offset "continued weakness in natural gas realizations, particularly at Jonah."
#barrel
18 days ago
If you thought a decline in oil prices would bring some relief at gas and diesel outlets, we're sorry. It didn't happen.
Oil prices did fall on Sept. 16, as much as 3.5% during the day. But the story was different for motorists.
Nationally, the price of gasoline climbed nearly 1% from a day earlier and is up more than 50% so far in 2026.
Related: Costco limits motor oil purchases as crude hits 4-month highs
AAA Fuels put the average price of gasoline at $4.367 a gallon on Sept. 16, up 0.9% from a day earlier and 7% in September alone. GasBuddy's late-afternoon average was $4.423 a gallon, up from $4.359 a day earlier.
#sept #Gallon
Oil prices did fall on Sept. 16, as much as 3.5% during the day. But the story was different for motorists.
Nationally, the price of gasoline climbed nearly 1% from a day earlier and is up more than 50% so far in 2026.
Related: Costco limits motor oil purchases as crude hits 4-month highs
AAA Fuels put the average price of gasoline at $4.367 a gallon on Sept. 16, up 0.9% from a day earlier and 7% in September alone. GasBuddy's late-afternoon average was $4.423 a gallon, up from $4.359 a day earlier.
#sept #Gallon