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Vitol Enters Into Permian Shale With Hunt Oil Deal David Wethe, Bloomberg News A natural gas well being drilled in the Eagle Ford shale in Karnes County, Texas. , Photographer: Eddie Seal/Bloomberg (Bloomberg) Vitol Group is buying Hunt Oil Co.âs Permian Basin business as the biggest independent crude trader makes a major move into the worldâs busiest shale patch. The deal includes 44,000 acres across five counties in the Midland Basin of West Texas with the equivalent daily output of about 40,000 barrels of oil a day, the company said in a statement on Friday. Itâs the first acquisition for Vencer Energy LLC, the U.S. oil exploration unit formed by Vitol last year. While a purchase price was not disclosed, earlier in the week Huntâs Permian assets were said to possibly command more than $1 billion, according to a person with knowledge of the matter. ....
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April saw gold, bonds, and stocks (The Dow) all rise around 2% while the dollar fell around 2% against its fiat peers. Source: Bloomberg All major US equity indices ended April higher with Nasdaq 100 leading the way and Small Caps lagging. Source: Bloomberg And while the 5%-ish gain for the month in S&P is notable, during 18 sessions this month through trading on Thursday, 95% or more of the index s members traded above their 200-day moving average. It looks like American colleges won t be alone in making vaccination mandatory for any students who want to return to campus next semester. Despite the White House s determination that vaccination shouldn t be mandatory by law, more than 60% of American companies are reportedly leaning toward requiring proof of vaccination from their employees. ....
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Vitol Group is buying Hunt Oil Co. s Permian Basin business. (Bloomberg) Vitol Group is buying Hunt Oil Co.’s Permian Basin business as the biggest independent crude trader makes a major move into the world’s busiest shale patch. The deal includes 44,000 acres across five counties in the Midland Basin of West Texas with the equivalent daily output of about 40,000 barrels of oil a day, the company said in a statement on Friday. It’s the first acquisition for Vencer Energy LLC, the U.S. oil exploration unit formed by Vitol last year. While a purchase price was not disclosed, earlier in the week Hunt’s Permian assets were said to possibly command more than $1 billion, according to a person with knowledge of the matter. ....