RP Weekly Recap | December 13 – 17
EnCap Investments LP has combined two of its portfolio companies in the Permian Basin, creating an oil producer worth more than $4 billion including debt that the private equity firm wants to take public as soon as next year. The merger between Advance Energy Partners and Ameredev II LLC will result in one of the largest privately held players in the Delaware Basin and help the Permian reach an estimated 5 million bpd in production for the first time in history. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 273,275,649 (up from 269,006,660 last week)
- Number of Cases (USA): 50,538,538 (up from 49,775,621 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Permian Merger Mania Heats Up With The Birth Of A $4 Billion Shale Oil Giant
- EnCap Merges Two Permian Portfolio Companies in $4 Billion Deal
- S&P Global Platts: Energy Supply Will Catch Up With Demand In 2022
- U.S. to Sell 18 Million Barrels of Oil from Strategic Petroleum Reserve
- Banks Put Pressure On Oil Companies To Go Green
- Average Production Per U.S. Oil Rig Has Soared 81% Since 2019
- Potential Polar Vortex Could Send Natural Gas Soaring Again
- Half Of U.S. Oil Pipelines Sit Empty
- New York City Set to Ban Natural Gas in New Buildings
- Elon Musk Wants To Turn CO2 Into Rocket Fuel
- U.S. Onshore Gas Flaring Falls To Lowest Level Since 2012
- The Oil Tycoon Creating An Energy Institute For The Next Generation
- U.S. Lawmaker Introduces Bill to Eliminate 45Q Carbon Credits for Oil Recovery
- Owners of Permian Basin Operator Colgate Energy Reportedly Planning IPO
- Texas Weighs Electricity Market Reforms To Avoid Blackouts
- Oil Prices Rise On Record U.S. Oil Demand
Global Market News
- IEA: Omicron To Temporarily Slow Global Oil Demand Recovery
- Can Egypt Become A Global LNG Power?
- Oil And Gas Industry To Spend $15 Billion On A Tech Transformation
- European Natural Gas Prices Soar On Supply Shortage Fears
- IEA: Coal Set For Record Highs In 2022 Despite Net-Zero Pledges
- Germany Threatens To Shutter Nord Stream In Case of Ukraine “Escalation”
- Germany Pushes Back Nord Stream 2 Decision To July
- China Draws From Stockpiles Again As Refiners Demand More Crude
- Europe’s Energy Crisis Just Got Worse
- Jobless Claims Rose Slightly Last Week to 206,000 – the four-week average falls to the lowest since 1969
United States Rig Count
- UP 3 from last week for a total of 579
- Up 67.3% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- Episode Seventeen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Cary Stockdell, CEO of Stockdell Stringer Leadership Solutions!
- Curious about the facts and story behind the recent oil spill in California? Check out Part 1 and Part 2 of our series covering the story!
- A New Basin Breakdown for the month of October is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- RARE PETRO is the tik talk of the town! Short-form content to educate both the public or industry professionals is available NOW! Check out our latest Tik Tok Video uncovering what Holywood does not understand about a blowout.
- RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the second edition of “Side Chat”.
- Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round.
- As Always, A New Monday Madness Podcast!
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