DOE: U.S. LNG as Key to Global Energy Needs

Newsletter No. 95

Good afternoon,

It is Thursday, December 19, 2024 and here is another edition of The Upside where I bring you the latest updates on the oil and gas industry, including what’s happening here at King.

This Week's Headlines

• Overcoming Adversity: The Inspiring Story of Staff Sergeant Jason Morgan on The Jay Young Show
• DOE Report Highlights U.S. LNG as Key to Global Energy Needs
• New Oil and Gas Find Discovered Near Troll Field in North Sea
• Oil Prices Rise on Fed Rate Cut Expectations and Strong U.S. Demand

• Talos Sells More of Mexican Business to Carlos Slim for $82.7 Million

• Phillips 66 Sells Stake in Gas Pipeline for $865 Million 
   

HAPPENING AT KING

Overcoming Adversity: The Inspiring Story of Staff Sergeant Jason Morgan on The Jay Young Show

In this episode of The Jay Young Show, U.S. Air Force veteran Staff Sergeant Jason Morgan shares his inspiring journey of resilience. After a life-changing accident in the Andes in 1999 left him paralyzed, Jason overcame tremendous challenges with the help of his service dog, Napal. He’s the author of A Dog Called Hope and co-founder of the Veterans Outpost, a nonprofit that offers veterans and their families a healing retreat. If you would like to learn more about this organization or see how you can help, click here. Jason discusses his military career, the impact of the Warrior Games, and his commitment to supporting veterans, especially those facing mental health struggles. His story is one of turning adversity into advocacy, helping others find hope and healing. Watch on YouTube, Rumble, or directly on our website. 

 

On the Next Episode

Join us this Friday morning, December 20, at 9 a.m. CT for a special holiday episode! My co-host, Jordan Soto, and I will be sharing our favorite Christmas memories, discussing holiday traditions, and chatting about everything that makes this season so special. It's the perfect way to get into the holiday spirit — we can't wait to celebrate with you! You can watch it on YouTube, Rumble, or directly on our website.

Episodes you might have missed
Here are some recent episodes to watch:

• Jehangir Raja, a Wall Street veteran, hedge fund manager, and successful entrepreneur. WATCH
• Floyd McLendon, former U.S. Navy Seal, a published author, and a sought-after motivational speaker. WATCH
• Barry Arnold, the co-founder of Boisson and the visionary behind Bardelia, a groundbreaking new venture in the non-alcoholic beverage industry. WATCH

Oil & Gas News

 

DOE Report Highlights U.S. LNG as Key to Global Energy Needs

A new report from the U.S. Department of Energy (DOE) shows that expanding U.S. LNG exports is crucial for global energy security and helps support allies, especially in Europe. The growth of U.S. LNG exports is creating jobs and boosting the economy, while also helping to meet rising global demand for natural gas. The report points out that while there may be some increase in domestic energy prices, U.S. natural gas remains key to global stability and strengthens America's role as a leader in the energy market.

 

New Oil and Gas Find Discovered Near Troll Field in North Sea

Equinor Energy has discovered new oil and gas near the Troll field, off the coast in the North Sea. The discovery could hold between two and 12 million barrels of oil. Equinor, which leads the project, is looking into ways to develop the find using nearby facilities. The well found both gas and oil in several layers of rock, with potential for more discoveries in the area.

 

Oil Prices Rise on Fed Rate Cut Expectations and Strong U.S. Demand

Oil prices went up on Wednesday as traders expect the U.S. Federal Reserve to lower interest rates, which could boost economic activity and oil demand. Brent crude reached $73.28 per barrel, and West Texas Intermediate rose to $69.99. The rise in prices is also supported by a report showing a bigger-than-expected drop in U.S. oil inventories, suggesting stronger demand in the U.S. The market is also waiting for inflation data from the Eurozone and UK to see how it might affect future interest rate decisions. You can see the up-to-the-minute commodities numbers here. 

 

Talos Sells More of Mexican Business to Carlos Slim for $82.7 Million

Talos Energy has sold 30.1% of its Mexican business, Talos Mexico, to billionaire Carlos Slim’s companies for $82.7 million. This includes $49.7 million in cash now, plus an extra $33 million when the Zama oil field starts producing, possibly by 2030. After the deal, Slim’s group will own 80% of Talos Mexico, while Talos keeps 20%. This sale is part of a larger partnership where Slim’s companies also own 24% of Talos Energy. The deal will help Talos boost returns for its shareholders while still staying involved in the Zama field’s future.

 

Also, please let us know how we are doing at King Operating Corporation. Leave a review here.

Thank you for your continued support, and if you have any questions for myself or any member of the King team, please don't hesitate to reach out.

All the best,

Jay