Good morning! Will OPEC come to the rescue? Analysts are debating if and when OPEC will cut supply to prop up oil prices. On the opposite side, Baker Hughes reported that U.S. drillers added a rig last week after five weeks of rig count declines. Boutique mineral company Rising Phoenix was in the news last week for their contrarian mineral strategy. Let’s drill down.

Daily Headlines

• As Crude Markets Turn Bearish, Will OPEC Come to the Rescue? Hartenergy

• U.S. oil and gas rigs see increase after five weeks of decline BOE Report.

• U.S. oil jobs no longer dominate the Houston market PB Oil and Gas Magazine.

• ExxonMobil tops the U.S. Permian Basin in rig count and frac crews PB Oil and Gas Magazine.

Deal Flow

M&A/Investment

• Rising Phoenix: The Anti-Permian Minerals Firm Buying Hartenergy

• Tidewater Renewables Ltd. announces completion of its previously announced proposed transaction with Tidewater Midstream and the refinancing or extension of its credit facilities Boereport.

IPO/Direct Listing/Issuances/Block Trades

• China’s Midea to raise nearly $4.0 billion through a Hong Kong listing, marking a significant capital increase WSJ.

Debt

• Peru approves $1.75 billion in financing for state oil firm Reuters.

• Gran Tierra Energy Inc. prices an additional $150 million of 9.500% senior secured amortizing notes due 2029 BOE Report.

Only the Finest, Refined Memes:

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Meme of the Day: #1