Newsletter No. 132
Good afternoon,
Let's jump right in this week and take a look at what’s happening in the oil and gas industry, along with some updates from King.
This Week's Headlines
- U.S. Tariffs Crush Cambodia’s Solar Industry
- Continental Tries New, Deeper Oil Well in North Dakota
- Range CEO: More Pipelines Needed as Gas Demand Surges
- UK Conservative Leader Wants More North Sea Oil
- Plains Buys Bigger Share of Texas Oil Pipeline
- New Episode: From Quarterback to Real Estate Leader & Investor
Oil and Gas News
U.S. Tariffs Crush Cambodia’s Solar Industry
Cambodia’s fast-growing solar industry collapsed after the U.S. ended a two-year tariff waiver in 2024 and imposed massive duties of up to 3,400% on solar panels. Once a booming $2.4 billion export sector that created thousands of jobs, the industry has seen factories shut down, workers laid off, and exports fall to just $4.4 million in early 2025. A few firms have shifted to producing alternative solar products with lower tariffs, but most companies have closed, leaving many former workers struggling to find lower-paying jobs.
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Continental Tries New, Deeper Oil Well in North Dakota
Continental Resources has drilled a new well in North Dakota that goes much deeper than usual, reaching rock layers below the well-known Bakken oil field. The test well shows the company is looking for fresh sources of oil as the Bakken field gets older. Early production numbers are small, and the well is currently paused, but experts say deeper layers could become valuable with new drilling technology.
Range CEO: More Pipelines Needed as Gas Demand Surges
Range Resources CEO Dennis Degner says natural gas demand is rising fast, driven by higher electricity needs, new data centers, and exports overseas, and production in Appalachia could nearly double by 2030. But there’s a big problem: not enough pipelines and infrastructure to move the gas where it’s needed. Degner explained that while one pipeline project is moving forward, many more will be required to keep up with growing demand and prevent energy shortages.
UK Conservative Leader Wants More North Sea Oil
Kemi Badenoch, head of the Conservative Party, says she will lift the ban on new North Sea oil and gas drilling if she becomes prime minister. She argues the UK should produce oil and gas as much as possible, calling oil and gas vital for jobs, revenue, and energy security. Badenoch also said the goal of reaching net zero emissions by 2050 is “impossible.”
Moves to Watch
Plains Buys Bigger Share of Texas Oil Pipeline
Plains All American Pipeline is buying a bigger piece of the EPIC pipeline, which carries oil from West Texas and South Texas to the Gulf Coast. The $1.57 billion deal gives Plains a 55% ownership share, while Ares Management will keep operating the line and hold the rest. The 800-mile pipeline can move more than 600,000 barrels of oil a day. Plains’ CEO said the move will help the company better connect oil fields to refineries and markets.
Happening at King
New Episode: From Quarterback to Real Estate Leader & Investor
This week, my co-host Jordan Soto and I sat down with Aaron Shockey, a former college quarterback turned top-producing real estate leader, entrepreneur, investor, and philanthropist. He shared how resilience shaped his journey from the football field to building The Aaron Shockey Group at Rogers Healy and Associates, earning recognition as one of DFW’s top real estate names.
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All the best,
Jay
