Upstream Updates - Friday, July 12, 2024

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Upstream Updates
July 12, 2024

| Today’s Upstream Updates

  • Oil trades higher for the third day as US inflation concerns cool

  • Natural gas prices continue to find support with summer demand

  • For those who still don’t have power in Houston, CenterPoint Energy is guiding it will have 80% of power restored by Sunday - article below

| Markets - Energy Prices

Product

Close

$ Change

% Change

WTI Oil

$82.62

+$0.53

+0.7%

Brent Crude

$85.38

+$0.30

+0.4%

HH Natural Gas

$2.27

-0.06

-2.4%

XOP

$145.33

-0.40

-0.27%

Note: pricing is as of time of publishing.

| Daily Energy News 

  • Oil prices rise as inflation concerns wane (Reuters)

  • Enverus inventory rankings: Shale’s best inventory (Hart Energy)

  • Global LNG trade continued to grow in 2023 (EIA)

  • FTC delays Chevron-Hess to after Exxon arbitration (Yahoo Finance)

  • Gas storage continues to build and trend above 5-yr avg. (EIA)

  • Encino continues to grow its Utica presence (Messenger)

  • Enagas sells Tallgrass Midstream stake to Blackstone (Inspection)

  • CenterPoint expects 80% of power restored by Sunday (Click2Hou)

  • Marathon Oil reaches record environmental settlement (NPR)

  • Shells’ bet on gas boom taking shape (Reuters)

  • Conoco & Marathon get second request from FTC (Release)

  • Big oil quietly investing in lithium (OilPrice)

| X (Twitter) Energy - Insightful Posts 

  • FERC re-affirms Tellurian extension for Driftwood FID (Link)

  • We admit…we’re tempted to get one of these for internet (Link)

  • Tracking summer driving season - chart (Link)

| July Capital Markets Activity

  • Pending 

| Partnerships

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Disclaimer - The information provided in this newsletter is for informational purposes only and should not be construed as investment advice. The contents and references herein do not constitute a recommendation to buy, sell, or hold any securities. Readers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions based on the information provided herein. The authors and publisher of this newsletter are not liable for any actions taken by readers based on the information contained herei