May 8, 2023 | Daily JAM, DVN, FANG, Jubak Picks, PXD, Videos |
This week’s Trend of the Week is Where is All That Oil Cash Going to Go? The likely answer: the Permian Basin and acquisitions. Oil companies like Exxon Mobil (XOM) are putting so much cash into the bank, they don’t know what to do with it. Exxon Mobil had $32.7 billion in cash in the bank. With little debt, and plenty left over after capital spending, dividends, and buybacks, the company is left with a tremendous amount of cash. Historically, extra cash could be used in oil exploration, which could take 5-15 years. In a global warming economy, that doesn’t make sense since we don’t know where oil prices and demand will be in the years ahead. The better option is acquisitions. One of the companies Exxon is rumored to be targeting is Pioneer Natural Resources (PXD) for their assets in the Permian Basin. Chevron (CVX) is in a similar position as Exxon and you can expect them to be in the market for Permian companies as well. Other Permian Basin companies that are ripe for being acquired are Devon Energy (DVN) and Diamondback Energy (FANG). I already have PXD and DVN in a portfolio in my JubakPicks Portfolio, and I’ll now be adding FANG as well.
April 7, 2023 | Daily JAM, PXD |
The Wall Street Journal reported today, Friday, April 7, that Exxon Mobil (XOM) has held preliminary, informal talks with Pioneer Natural Resources (PXD) about a possible acquisition.
October 20, 2020 | Daily JAM, PE, Stock Alerts |
A day after  ConocoPhilips (COP) announced it would buy big Permian Basin oil shale play Concho Resources (CXO) for $9.7 billion, the Wall Street Journal reported that Pioneer Natural Resources, by some measures the biggest oil shale operator in the Permian Basin, is...
June 12, 2020 | Daily JAM, PE |
The number of active oil drilling rigs in the United Stats fell again this week, Baker Hughes reported today, with the number of active rigs falling for a 13th straight week. The Permian Basin of West Texas and New Mexico didn't escape the carnage even though...
May 29, 2020 | Daily JAM |
Baker Hughes reported today that the number of rigs drilling for oil in the United States fell by another 15 to 222 this week. This is the 11th straight weekly decline. The total active rig count, which includes oil and natural gas drilling rigs, dropped by 17 to 301....
November 26, 2019 | Daily JAM, LNG, Volatility |
The second quarter of the year is, historically, the weakest quarter for global demand for natural gas. That's not a good forecast since the global glut of natural gas has already gotten so large that U.S. exporters of liquified natural gas have no place to send it....
August 19, 2019 | Daily JAM, Stock Alerts |
After-hours on July 31, Concho Resources (CXO), the biggest producer in the low-cost, high-yield Permian Basin, reported earnings of 69 cents a share for the second quarter of 2019. That missed the Wall Street consensus by 3 cents a share. Revenue climbed 19.3% year...
August 7, 2019 | Daily JAM, Stock Alerts, Volatility |
Shares of Permian Basin oil shale producer Parsley Energy (PE) were up 16.45% as of 3 p.m. New York time this afternoon. The company reported second quarter earnings of 32 cents a share (after adjusting for a one-time tax-related gain). Unadjusted earnings came to 41...
July 2, 2019 | Daily JAM, Morning Briefing, Short Term |
A day after OPEC agreed on a deal to extend current production cuts until March 2020, Russia and nine other non-OPEC producers agree to a matching nine-month extension of supply cuts. In some oil markets, the news would have sparked a rally in oil prices. Less supply...
June 26, 2019 | Daily JAM, PE, PXD |
U.S. benchmark West Texas Intermediate crude is now up 10% for the week following on a 2.44% jump in price to $59.24 a barrel today. International benchmark Brent crude gained 1.94% to $66.31 a barrel. Continued tensions between the United States and Iran, of course,...
May 21, 2019 | Daily JAM, PXD, Stock Alerts, You Might Have Missed |
Today, May 21, Pioneer Natural Resources (PXD) announced that it would lay off 230 workers at its headquarters and in Permian Basin offices. Added to the 300 employees who took buyouts earlier this year, the total cuts amount to about 20% of the company's workforce....
May 8, 2019 | Daily JAM, PXD, Stock Alerts |
A complicated but very positive quarter for Pioneer Natural Resources (PXD.) The stock, a member of my long-term 50 Best Stocks Portfolio, climbed 3.92% today to $153.77. First, after the close on May 6, the company announced earnings of  $1.83 a share, 20 cents a...