Pipeline company Williams said on Monday it would buy Momentum Midstream, as it bets on growing demand from LNG export facilities, power generation and industrial users along the U.S. Gulf Coast. The deal, which includes about $3.5 billion in cash and assumed debt and roughly $2 billion in Williams stock, will expand Williams' footprint in the Haynesville shale basin, a key supplier of natural gas to Gulf Coast LNG terminals. U.S. pipeline companies are benefiting from booming oil and gas [Read more]
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Letter to Stockholders Issued by Diamondback Energy, Inc.
MIDLAND, Texas, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. Macro Update The disruption of oil flows through the Strait of [Read more]
Diamondback Energy, Inc. Announces Second Quarter 2026 Financial and Operating Results
MIDLAND, Texas, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the second quarter ended June 30, 2026. SECOND QUARTER 2026 HIGHLIGHTS Average oil production of 525 MBO/d Production of 1,018 MBOE/d, surpassing the 1.0 million barrels of oil equivalent per day milestone Net cash provided by operating activities of $3.6 billion; Operating Cash Flow Before [Read more]
Iran war ushers in oil refining golden era. It won’t last: Bousso
Bumper oil refining profits triggered by the Iran war are turbocharging Big Oil's earnings, breathing new life into a business many investors had largely written off. The sector looks poised to produce unusually strong returns for several years, but long-term structural changes in oil consumption mean refining’s star will likely fade quickly. Despite occupying a critical position in the global energy supply chain, refining has long been the least glamorous corner of the oil business. Western [Read more]
US LNG exports stall in July despite higher LNG prices
American LNG producers were unable to take advantage of a rally in global gas prices in July as maintenance and seasonally lower production kept export volumes largely unchanged from the previous month. U.S. exports of liquefied natural gas slipped to 10.48 million metric tons (MT) in July from 10.6 MT in June, according to preliminary data from financial firm LSEG. Exporters traditionally use summer months for maintenance, since warmer weather makes it less efficient to supercool natural [Read more]
Trump demands lower gas prices from oil companies, chides Chevron CEO
U.S. President Donald Trump again called on oil companies to lower gasoline prices for American consumers on Monday, chiding Chevron Chief Executive Mike Wirth for not crediting his administration's efforts to help the oil industry. Trump admonished Wirth for failing to credit his administration - in a television interview - with helping oil companies, including creating a market in Venezuela. "The only thing he conveniently forgot to mention is that, without the genius, foresight, strength, and [Read more]
War-fueled oil rally set to lift shale profits to highest since 2022
U.S. shale producers are expected to report their strongest quarterly profits since 2022 after the Iran war sent crude prices soaring, with analysts expecting much of the windfall to be returned to shareholders rather than spent on expanding production. ConocoPhillips, Occidental Petroleum, EOG Resources, Diamondback Energy and Devon Energy are among the producers expected to post sharply stronger second-quarter earnings after benchmark oil prices climbed for much of the quarter, boosting [Read more]
Kazakhstan’s oil and gas condensate output fell 14% in July from June, source says
Kazakhstan's crude oil and gas condensate production fell to about 1.85 million barrels per day, or 7.6 million metric tons, in July 2026 from 2.16 million bpd in June, an industry source familiar with operational data told Reuters on Monday. The decline was linked to disruptions at the Caspian Pipeline Consortium, the main export route for Kazakh oil, the source said. Kazakhstan's oil production heavily depends on the CPC, as it has no real alternatives to ship the lion's share of its vast [Read more]
Six Saudi tankers turn away from Aden, ship-tracking data shows
Six Saudi-flagged supertankers have changed course in the Gulf of Aden in recent days and are heading to southern Africa amid threats by Yemen’s Houthi movement to target Saudi shipping, ship-tracking data showed on Monday. The tankers, which were empty of cargo after returning from destinations in Asia, were sailing in formation towards southern Africa, rather than opting to transit the southern Red Sea via the Bab el-Mandeb chokepoint, according to AIS ship-tracking on LSEG and [Read more]
Prospera Reports Record Revenue and Significant Increase in Operating Netback in Q2 2026
Calgary, Alberta--(Newsfile Corp. - August 3, 2026) - Prospera Energy Inc. (TSXV: PEI) (OTC Pink: GXRFF) ("Prospera", "PEI", the "Corporation", or the "Company") Prospera is pleased to report the strongest quarter in its recent history. Sales revenue reached $6.2 million ($91.17/boe), the highest quarterly revenue in five years, while operating netback rose to $2.0 million or $29.65/boe, the best in 24 months. These results were delivered through spring break-up, historically the highest-risk [Read more]
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