Newsletter No. 137
Good afternoon,
Let's jump right in this week and take a look at what’s happening in the oil and gas industry.
This Week's Headlines
- Oil and Gas Producers Take Back Control of Their Pipelines
- Oil Prices Rise as Supplies Tighten and OPEC+ Eases Oversupply Fears
- Cenovus Raises Final Offer for MEG Energy to $6.2 Billion
- Upcoming Webinars with Chief Economist John Mauldin and Tax Strategist Ed Lyon
- New Podcast: David Feherty’s Journey Through Addiction, Faith, and Purpose
Oil and Gas News
Oil and Gas Producers Take Back Control of Their Pipelines
More oil and gas companies are choosing to own their own pipelines instead of relying on others to move their products. EQT, the biggest U.S. natural gas producer, recently bought back its pipeline company, Equitrans, to have more control over costs and delivery. Owning the pipelines helps EQT and others like Greylock Energy and Williams Cos. move gas more efficiently, reach better-paying markets, and protect profits, especially now that pipeline space is limited and demand for natural gas is growing.
Oil Prices Rise as Supplies Tighten and OPEC+ Eases Oversupply Fears
Oil prices went up on yesterday after reports showed that U.S. oil stockpiles in Oklahoma dropped again, meaning supplies are getting tighter. OPEC+ also helped calm worries about too much oil on the market by planning only a small increase in production. Analysts say this mix of lower supplies and cautious output could keep oil trading around $65 to $70 a barrel in the near future.
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Moves to Watch
Cenovus Raises Final Offer for MEG Energy to $6.2 Billion
Cenovus Energy has raised its offer to buy MEG Energy to about $6.2 billion, including debt, after listening to MEG shareholders who wanted more Cenovus stock in the deal. The updated agreement increases the value to $29.80 per MEG share, up from the earlier offer, and gives investors the choice of receiving cash, Cenovus shares, or a mix of both, with a maximum of 50% cash and 50% shares. This represents a 46% premium over MEG’s earlier share price and marks Cenovus’ “best and final” offer. MEG’s board supports the revised deal, saying it gives shareholders greater opportunity to benefit from the combined company’s future growth. Cenovus is also now allowed to buy up to 9.9% of MEG’s shares before the merger closes.
Happening at King
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New Podcast: David Feherty’s Journey Through Addiction, Faith, and Purpose
In this week’s episode of The Jay Young Show, I had the incredible opportunity to sit down with golf legend David Feherty for one of the most honest and heartfelt conversations we’ve ever had on the show. David opened up about his journey through addiction, loss, and redemption, and how faith, perseverance, and purpose carried him forward. His story goes far beyond golf; it’s a powerful reminder about leadership, humility, and hope.
In my Weekly Five, I am joined by my co-host Jordan Soto and King's own Steve Mullican, Rachel Griffith, and Laura Black as they share their thoughts on Hope, drawing inspiration from verses like Romans 15:13 and Romans 12:12. Laura highlights Poems and Prayers by Matthew McConaughey, Steve discusses The Purpose Driven Life by Rick Warren, and Rachel shares how she’s diving into podcasts about IDCs and end-of-year tax strategies, an especially timely topic for oil and gas investors.
This episode is a mix of authenticity, market insight, and spiritual reflection, a great reminder that resilience and leadership matter not just in business, but in life.
Watch it on LinkedIn, Rumble and YouTube (@JayRYoungOfficial)
If you'd like to talk to someone about King and are an accredited investor, you can fill out your information here or schedule a Zoom conversation with one of our SVPs here and someone will reach out.
All the best,
Jay
