- Upstream Updates
- Posts
- Upstream Updates - Thursday, July 25, 2024
Upstream Updates - Thursday, July 25, 2024
Get real-time updates by following us on X (Twitter) @upstreamupdates
Upstream Updates
July 25, 2024
| Today’s Upstream Updates
Oil prices trading down on a mixed bag of demand signals
Natural gas fundamentals holding but prices are trading down
Baytex Energy announces earnings today after the close
| Markets - Energy Prices
Product | Close | $ Change | % Change |
|---|---|---|---|
WTI Oil | $76.60 | -$0.99 | -1.28% |
Brent Crude | $80.63 | -$1.08 | -1.32% |
HH Natural Gas | $2.141 | +$0.024 | +1.13% |
XOP | $142.58 | -$0.99 | -0.69% |
Note: pricing is as of time of publishing.
| Daily Energy News
Crude prices slip on mixed demand signals (Reuters)
Natural gas prices crawl negative today (Economies)
Oilfield slashes prices as mergers shrink customer base (Reuters)
EQT warns of skyrocketing prices if Harris bans fracking (WorldOil)
Cenovus shuts down 160 kbpd refinery in Ohio (BOE Report)
Oil billionaire’s bet on Trumps energy agenda (WSJ)
EIA This week in petroleum (EIA)
Democrats bill targets oil firms for any work with OPEC (Reuters)
Archrock to acquire gas compression firm TOPS (Rigzone)
Fitch rates Kraken Oil & Gas ahead of bond offering (Release)
Declining Mexico production stops energy independence (Reuters)
TX electric costs up by $20 billion last year (KTRH)
Nat gas storage below 5-yr average this summer (EIA)
| X (Twitter) Energy - Insightful Posts
| Upstream Earnings - Releases & Presentations
EQT Corp (EQT) 2Q-2024 Earnings Release | Presentation
Matador Resource (MTDR) 2Q-2024 Earnings Release | Presentation
Range Resources (RRC) 2Q-2024 Earnings Release | Presentation
| Monthly Upstream Deals
| Monthly Capital Markets Activity
Debt 7/18/24 - SM Energy (SM) announced it has upsized its private debt placement from $1.3 billion to $1.5 billion. Offering is for $750 MM, 6.75% senior note due 2029 and $750 MM, 7.00% senior notes due 2032. SM will use the proceeds to fund the purchase of its XCL acquisition and to redeem its 5.625% Notes due 2025. The 2029 notes will only be issued if the XCL acquisition is consummated.
| Partnerships
Interested in promoting your business to our network? Advertise in Upstream Updates by contacting us today at [email protected].
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