Newsletter No. 37
Good morning,
Hope everyone is doing well. As this week comes to a close, I want to ensure you are well-informed about the latest developments around the oil and gas industry, and at King Operating Corporation.
This Week’s Headlines
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Ongoing War in Israel
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Texas is Breaking Records
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Introducing Our New Blog on Kingoperating.com
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Ask Jay
Ongoing War in Israel
As the War in Israel enters a heartbreaking third week, it continues to be at the forefront of our minds. Our thoughts and prayers are with all those impacted with unimaginable loss, particularly the families who have lost their loved ones, homes, and livelihood.
Israel has reported the release of two hostages who had been held in Gaza since the conflict began on October 7. We continue to pray for the safe release of all hostages and hope for the swift restoration of peace and stability in the region.
Humanitarian aid deliveries are now underway, including a convoy of 20 trucks carrying clean water, food, medical care, and other essential needs for Gaza residents passing through the Rafah crossing during its brief opening. If you would like to contribute, here are a couple of organizations who are providing aid: Samaritan’s Purse or Impact Your World.
Texas is Breaking Records
An article on Rigzone.com highlighted the recent findings from the Texas Oil & Gas Association (TXOGA), which showed record-breaking achievements in the state’s oil and gas industry. Texas reached its highest-ever crude oil production rate of 5.9 million barrels per day in September, along with a record-breaking natural gas production figure of 34.6 billion cubic feet per day. These figures underscore the state’s dominant role in the energy sector and its crucial contribution to national and global energy security.
Additionally, TXOGA’s analysis noted records in natural gas liquids (NGL) field production, crude oil inputs for refiners and blenders, and NGL direct use, all based on official data for the month of July. These records affirm Texas’ position as a leading player in processing and distributing energy resources, with a strong emphasis on infrastructure investment.
Dean Foreman, Chief Economist at TXOGA, highlighted the importance of sound energy policies in the context of the current geopolitical landscape and low domestic crude oil reserves. He emphasized that the state’s record-high production significantly contributes to U.S. and global energy security.
The writer pointed out Texas’ significant energy exports, with nearly $125 billion in energy product exports in the first seven months of the year. This demonstrates its substantial role on the international energy stage.
Introducing Our New Blog on Kingoperating.com
We are excited to announce the latest addition to our website: A brand-new blog section dedicated entirely to the oil and gas industry. It aims to provide readers with valuable insights.
With articles on fossil fuels, oil prices, and investing in the industry, we aim to keep you informed about the latest trends, advancements, and market updates.
In today’s ever-changing global energy landscape, staying ahead of the curve is crucial for investors and industry professionals. Our content will give insight into the intricacies of the sector while offering comprehensive analysis that caters to both seasoned veterans and newcomers seeking knowledge about oil and gas.
Stay tuned as we bring you engaging discussions on newsworthy topics. Check it out at kingoperating.com/blog.
Ask Jay
I was recently asked about us drilling in the Permian Basin. In this week’s Ask Jay, I talk about some of the unconventional plays around the country, including the Permian Basin. Watch the video here.
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.
To learn more about our strategy, you can listen to my book, The Upside of Oil and Gas Investing. Or, if you’d like for us to send you an signed copy of my book, send your name and address to info@kingoperating.com.
In the News
Interview with analyst Brad Young on KMOX about the impact of Middle East conflicts on global oil prices.
Recommended Reads
Joe Manchin Slams Sanction Relief for Venezuelan Oil and Gas
Alaska sues Biden administration over canceled Arctic oil and gas leases
OXY- A US-Based Oil and Gas Producer Worth a Look Amid Global Turmoil
All the best,
Jay
