What Caught My Attention:

Kimmeridge Exits SilverBow Proxy Fight - Kimmeridge Energy's decision to exit its proxy battle with SilverBow Resources marks a significant turn in the energy sector's power dynamics. This move comes after SilverBow's recent $2.1B deal with Crescent. Hart Energy

Daily Headlines

• Phillips 66 Expands Permian Natgas, NGL Network with Pinnacle Midstream Deal

  • Summary: "Phillips 66 bolsters its Permian footprint through the acquisition of Pinnacle Midstream." RBN Energy

• Shell Abandons North Slope Oil Leases

  • Summary: "Shell exits its North Slope oil leases, sparking discussions on Alaska's energy future." Alaska Beacon

• Citi Research Expects OPEC to Hold Output Cuts Through 3rd Quarter

  • Summary: "Citi Research predicts OPEC will maintain its production cuts through the third quarter of 2024." BOE Report

• Zachry Holdings Files for Bankruptcy Amid Golden Pass LNG Lawsuit

  • Summary: "Zachry Holdings' bankruptcy filing follows a contentious lawsuit with Golden Pass LNG." Biz Journals

• Why Oil May Regain Upward Momentum

  • Summary: "Market conditions suggest a potential upward trajectory for oil prices." OilPrice.com

• U.S. Secures Critical Rare Earths Supply Chain by 2027

  • Summary: "The U.S. aims to secure its domestic rare earths supply chain by 2027 to reduce dependency on foreign sources." Oil and Gas 360

• OPEC's Output Cuts Expected to Hold Through Q3

  • Summary: "Citi's latest analysis shows OPEC's output cuts are likely to continue through the third quarter." BOE Report

• Shell Abandons North Slope Oil Leases

  • Summary: "Shell's withdrawal from North Slope oil leases raises questions about future energy projects in Alaska." Alaska Beacon

• Oil Prices and Market Dynamics

  • Summary: "Current trends indicate a potential rise in oil prices due to various market factors." OilPrice.com

• U.S. Oil and Gas Lease Sale in Montana and North Dakota Set for July

  • Summary: "The upcoming oil and gas lease sale in Montana and North Dakota scheduled for July 2024." NBC Montana

Deal Flow

M&A/Investment

• Kimmeridge Exits SilverBow Proxy Fight

  • Summary: "Kimmeridge Energy ends its proxy battle with SilverBow Resources following the latter's $2.1B deal with Crescent." Hart Energy

• Kinder Morgan Buys Texas Oilfield Carbon Tax Play

  • Summary: "Kinder Morgan acquires a Texas oilfield, positioning itself in a new carbon tax play." Hart Energy

IPO/Direct Listing/Issuances/Block Trades

• None to report today.

Debt

• None to report today.

Only the Finest, Refined Memes:

Meme of the Day: #3

Meme of the Day: #2

Meme of the Day: #1