Latest news with #energydemand
Fox News
2 days ago
- Business
- Fox News
Wall Street utility takeovers may mean higher bills ahead
As data centers multiply across the United States, energy demand is increasing at a rapid pace. This has not escaped the notice of large investment firms from Wall Street. The likes of BlackRock and Blackstone are trying their very best to acquire utility companies in hopes of capitalizing on lucrative grid upgrades. On the other side of things, consumer advocates and regulators are raising alarms, worried that these moves prioritize profits over public service. For your information, BlackRock and Blackstone are two of the biggest investment management firms in the world. They have trillions of dollars' worth of global assets and have become the go-to option for companies that need money. They have enormous influence across various industries and make money by investing in many different types of businesses. Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my In a bold move last year, BlackRock's Global Infrastructure Partners, along with the Canada Pension Plan Investment Board, proposed acquiring Minnesota Power, a utility serving 150,000 customers. The acquisition, which could support tech companies with energy access for new data centers, received initial support from state agencies after negotiation. Even the Minnesota Department of Commerce dropped its opposition after reaching an agreement. However, Administrative Law Judge Megan J. McKenzie delivered a surprising recommendation on July 15th, urging regulators to deny the deal. She cited troubling signs that profit was the driving force behind the acquisition. "The nonpublic evidence reveals the partners' intent to do what private equity is expected to do — pursue profit in excess of public markets through company control," Judge McKenzie wrote. "The partners themselves have carefully committed to do very little." It's important to note that the judge's recommendation is not final; state regulators will make the ultimate decision on whether the acquisition goes through. Opposition is mounting from climate advocates and watchdogs. Nichole Heil from the Private Equity Stakeholder Project voiced concerns over financial burdens and rate hikes: "No one in northern Minnesota wants higher utility bills solely to line the pockets of Wall Street-based private equity firms." Electricity bills are already climbing nationwide. According to the Energy Information Administration, the average monthly household bill rose nearly 4% in April to $175 a month. This is the average for a single household using 1,000 kilowatt-hours of electricity. To address these concerns, the Minnesota Department of Commerce brokered a deal that includes key protections. These measures prohibit passing acquisition costs onto customers and preserve programs for low-income households. "These commitments include a substantial array of additional public interest benefits, risk-mitigation tools and customer protections beyond those originally proposed," the agency noted. If Wall Street giants like BlackRock and Blackstone acquire your local utility, rates could increase as they strive to maximize returns for their shareholders. Sure, they might improve the infrastructure and service, but history shows that when these types of companies come in, customers often end up paying more. They need to be kept in check to balance infrastructure investment while making energy affordable for regular Americans. The rapid increase in demand for tech has made utility ownership a battleground between profit-driven investors and consumer advocates. While firms like BlackRock and Blackstone argue that their resources can modernize aging grids, critics warn of a future where reliability and affordability take a backseat. With regulators now at a crossroads, the outcome in Minnesota may set the tone for utility ownership nationwide. Do you think companies like BlackRock and Blackstone owning utilities is a good thing? How long do you think consumer protection agencies can hold them off from hiking prices? Let us know by writing us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my Copyright 2025 All rights reserved.
Yahoo
2 days ago
- Business
- Yahoo
Crude Oil Rallies as President Trump Imposes a New Deadline on Russia
September WTI crude oil (CLU25) today is up +1.34 (+2.06%), and September RBOB gasoline (RBU25) is up +0.0328 (+1.59%). Crude oil and gasoline prices today are up sharply at 1-week highs. Concerns about the possibility of tighter global oil supplies are lifting crude prices today after President Trump said he would move up the deadline for Russia to agree to a truce with Ukraine. Crude prices also rose today after the S&P 500 rallied to a new record high, indicating confidence in the economic outlook that supports energy demand. In addition, positive trade news supports energy demand and crude prices after the EU and the US agreed to a trade deal and after the South China Post reported that the US and China will extend their trade truce for another three months. Today's stronger dollar is limiting gains in crude. More News from Barchart Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Crude prices jumped today after President Trump said he would impose a new deadline of 10-12 days for Russia to reach a truce with Ukraine before he increases sanctions on Russian energy exports, up from a previous deadline of 50 days. JPMorgan Chase warned that if enforced, oil markets would be unable to ignore the impact of triple-digit tariffs on Russian oil, given the significant scale of Russian exports and limited OPEC spare capacity, which could potentially lead to a supply shock. The European Union recently approved fresh sanctions on Russian oil due to its aggression against Ukraine. The sanctions package includes cutting off 20 more Russian banks from the international payments system SWIFT, as well as restrictions imposed on Russian petroleum refined in other countries. A large oil refinery in India, part-owned by Russia's Rosneft PJSC, was also blacklisted. Additionally, 105 more ships in Russia's shadow fleet were sanctioned, pushing the number of sanctioned ships above 400. In a supportive factor for oil prices, Bloomberg reported on July 10 that OPEC+ is discussing a pause in further production increases from October, following its next monthly hike in September of 548,000 barrels. OPEC+ may be concerned about a slowdown in global oil demand in the second half of this year that could lead to a supply glut if the group keeps boosting production. The International Energy Agency said inventories have been accumulating at a rate of 1 million bpd and that the global crude oil market faces a surplus by Q4-2025 equivalent to 1.5% of global crude consumption. Concern about a global oil glut is negative for crude prices. On July 5, OPEC+ agreed to raise its crude production by 548,000 barrels per day (bpd) beginning August 1, exceeding expectations of a 411,000 bpd increase. Saudi Arabia also stated that additional similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and penalize overproducing OPEC+ members, such as Kazakhstan and Iraq. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. On May 31, OPEC+ agreed to a 411,000 bpd increase in crude production for July, following the same 411,000 bpd hike for June. June crude production rose +360,000 bpd to a 1.5-year high of 28.10 million bpd. Oil prices have been undercut by expectations for Iraq to boost crude exports from its northern Kurdish region through the Iraq-Turkey pipeline, where oil exports have been halted since March 2023. The Iraqi government approved a plan for the semi-autonomous Kurdish region to resume oil exports. Kurdistan expects to supply Iraq's crude market with 230,000 bpd of crude once exports resume. Iraq is the second-largest oil producer in OPEC. An increase in crude oil held worldwide on tankers is bearish for oil prices. Vortexa reported today that crude oil stored on tankers that have been stationary for at least seven days rose by +23% w/w to 84.99 million bbl in the week ended July 25. Last Wednesday's weekly EIA report showed that (1) US crude oil inventories as of July 18 were -8.6% below the seasonal 5-year average, (2) gasoline inventories were +0.2% above the seasonal 5-year average, and (3) distillate inventories were -18.5% below the 5-year seasonal average. US crude oil production in the week ending July 18 fell -0.8% w/w to 13.273 million bpd, modestly below the record high of 13.631 million bpd posted in the week of 12/6/2024. Baker Hughes reported Flast riday that the number of active US oil rigs in the week ending July 22 decreased by -7 rigs to a new 3.75-year low of 415 rigs. Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.25-year high of 627 rigs reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
6 days ago
- Business
- Yahoo
Progress in Trade Talks Supports Energy Demand and Crude Prices
September WTI crude oil (CLU25) today is up +0.73 (+1.12%), and September RBOB gasoline (RBU25) is down -0.0145 (-0.69%). Crude oil and gasoline prices today are mixed. Crude oil is finding support in signs of progress in trade talks, which could support economic growth and energy demand. Also, today's rally in the S&P 500 to a new record high shows confidence in the economic outlook that is bullish for energy demand and oil prices. Today's dollar strength and mixed US economic reports are limiting gains in crude prices. More News from Barchart Nat-Gas Prices Tumble as US Weather Forecasts Cool Crude Oil Prices Could Tick Up on Consumer Resilience. Here Are the Levels to Watch Before You Buy. Crude Prices Finish Slightly Lower on a Mixed EIA Inventory Report Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Signs of progress in US trade deals are boosting crude prices. On Wednesday, the US and Japan agreed to a trade deal, and Bloomberg reported that the US and European Union were close to a trade deal. Today's US economic news was mixed for energy demand and crude prices. On the positive side, weekly initial unemployment claims unexpectedly fell -4,000 to a 3-month low of 217,000, showing a stronger labor market than expectations of an increase to 226,000. Conversely, the July S&P US manufacturing PMI fell -3.4 to a 7-month low of 49.5, weaker than expectations of 52.7. Weakness in the crude crack spread is bearish for crude prices. The crack spread today fell to a 2.5-week low, which discourages refiners from purchasing crude and refining it into gasoline and distillates. Oil prices have been undercut by expectations for Iraq to boost crude exports from its northern Kurdish region through the Iraq-Turkey pipeline, where oil exports have been halted since March 2023. The Iraqi government approved a plan for the semi-autonomous Kurdish region to resume oil exports. Kurdistan expects to supply Iraq's crude market with 230,000 bpd of crude once exports resume. Iraq is the second-largest oil producer in OPEC. Crude prices have underlying support from last Friday when the European Union approved fresh sanctions on Russian oil due to its aggression against Ukraine. The sanctions package includes cutting off 20 more Russian banks from the international payments system SWIFT, as well as restrictions imposed on Russian petroleum refined in other countries. A large oil refinery in India, part-owned by Russia's Rosneft PJSC, was also blacklisted. Additionally, 105 more ships in Russia's shadow fleet were sanctioned, pushing the number of sanctioned ships above 400. Concern about a global oil glut is negative for crude prices. On July 5, OPEC+ agreed to raise its crude production by 548,000 barrels per day (bpd) beginning August 1, exceeding expectations of a 411,000 bpd increase. Saudi Arabia also stated that additional similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and penalize overproducing OPEC+ members, such as Kazakhstan and Iraq. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. On May 31, OPEC+ agreed to a 411,000 bpd increase in crude production for July, following the same 411,000 bpd hike for June. June crude production rose +360,000 bpd to a 1.5-year high of 28.10 million bpd. In a supportive factor for oil prices, Bloomberg reported on July 10 that OPEC+ is discussing a pause in further production increases from October, following its next monthly hike in September of 548,000 barrels. OPEC+ may be concerned about a slowdown in global oil demand in the second half of this year that could lead to a supply glut if the group keeps boosting production. The International Energy Agency said inventories have been accumulating at a rate of 1 million bpd and that the global crude oil market faces a surplus by Q4-2025 equivalent to 1.5% of global crude consumption. A decrease in crude oil held worldwide on tankers is bullish for oil prices. Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days fell by -14% w/w to 66.31 million bbl in the week ended July 18. Wednesday's weekly EIA report showed that (1) US crude oil inventories as of July 18 were -8.6% below the seasonal 5-year average, (2) gasoline inventories were +0.2% above the seasonal 5-year average, and (3) distillate inventories were -18.5% below the 5-year seasonal average. US crude oil production in the week ending July 18 fell -0.8% w/w to 13.273 million bpd, modestly below the record high of 13.631 million bpd posted in the week of 12/6/2024. Baker Hughes reported last Friday that the number of active US oil rigs in the week ending July 18 decreased by -2 rigs to a new 3.75-year low of 422 rigs. Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.25-year high of 627 rigs reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-07-2025
- Business
- Yahoo
Crude Prices Finish Slightly Lower on a Mixed EIA Inventory Report
September WTI crude oil (CLU25) on Wednesday closed down -0.06 (-0.09%), and September RBOB gasoline (RBU25) closed up +0.0187 (+0.90%). Crude oil and gasoline prices settled mixed on Wednesday. A build in crude supplies at Cushing, the delivery point for WTI futures, for a third consecutive week, undercut oil prices. Losses in crude were contained, and gasoline prices rose after weekly EIA crude inventories and gasoline supplies fell more than expected. Also, Wednesday's decline in the dollar index (DXY00) to a 2-week low was supportive of energy prices. Additionally, the action by the US and Japan to agree on a trade agreement eases trade concerns and supports energy demand. More News from Barchart Array Technologies (ARRY) Just Flashed a Statistically Significant Reversal Signal for Options Traders Forecasts for Milder US Weather Weigh on Nat-Gas Prices Crude Oil Price Fall on Concern About Energy Demand Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Wednesday's US economic news was negative for energy demand and crude prices after Jun existing home sales fell -2.7% m/m to a 9-month low of 3.93 million, weaker than expectations of -0.7% to 4.00 million. Weighing on crude is the outlook for Iraq to boost crude exports from its northern Kurdish region through the Iraq-Turkey pipeline, where oil exports have been halted since March 2023. The Iraqi government approved a plan for the semi-autonomous Kurdish region to resume oil exports. Kurdistan expects to supply Iraq's crude market with 230,000 bpd of crude once exports resume. Iraq is the second-largest oil producer in OPEC. Crude prices have carryover support from last Friday when the European Union approved fresh sanctions on Russian oil due to its aggression against Ukraine. The sanctions package includes cutting off 20 more Russian banks from the international payments system SWIFT, as well as restrictions imposed on Russian petroleum refined in other countries. A large oil refinery in India, part-owned by Russia's Rosneft PJSC, was also blacklisted. Additionally, 105 more ships in Russia's shadow fleet were sanctioned, pushing the number of sanctioned ships above 400. Concern about a global oil glut is negative for crude prices. On July 5, OPEC+ agreed to raise its crude production by 548,000 barrels per day (bpd) beginning August 1, exceeding expectations of a 411,000 bpd increase. Saudi Arabia also stated that additional similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and penalize overproducing OPEC+ members, such as Kazakhstan and Iraq. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. On May 31, OPEC+ agreed to a 411,000 bpd increase in crude production for July, following the same 411,000 bpd hike for June. June crude production rose +360,000 bpd to a 1.5-year high of 28.10 million bpd. In a supportive factor for oil prices, Bloomberg reported on July 10 that OPEC+ is discussing a pause in further production increases from October, following its next monthly hike in September of 548,000 barrels. OPEC+ may be concerned about a slowdown in global oil demand in the second half of this year that could lead to a supply glut if the group keeps boosting production. The International Energy Agency said inventories have been accumulating at a rate of 1 million bpd and that the global crude oil market faces a surplus by Q4-2025 equivalent to 1.5% of global crude consumption. A decrease in crude oil held worldwide on tankers is bullish for oil prices. Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days fell by -14% w/w to 66.31 million bbl in the week ended July 18. Wednesday's weekly EIA report was mixed for crude and products. On the negative side, EIA distillate stockpiles unexpectedly rose +2.9 million bbl versus expectations of a -1.25 million bbl draw. Also, crude supplies at Cushing, the delivery point of WTI futures, rose by +455,000 bbl. On the positive side, crude inventories fell -3.17 million bbl, a larger draw than expectations of 1.5 million bbl. Also, EIA gasoline supplies fell -1.7 million bbl, a larger draw than expectations of a -200,000 bbl draw. Wednesday's weekly EIA report showed that (1) US crude oil inventories as of July 18 were -8.6% below the seasonal 5-year average, (2) gasoline inventories were +0.2% above the seasonal 5-year average, and (3) distillate inventories were -18.5% below the 5-year seasonal average. US crude oil production in the week ending July 18 fell -0.8% w/w to 13.273 million bpd, modestly below the record high of 13.631 million bpd posted in the week of 12/6/2024. Baker Hughes reported last Friday that the number of active US oil rigs in the week ending July 18 decreased by -2 rigs to a new 3.75-year low of 422 rigs. Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.25-year high of 627 rigs reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
23-07-2025
- Business
- Associated Press
Back-to-Back Catalysts Line Up for U.S. Oil and Gas Producers as Domestic Output Tightens
USA News Group News Commentary Issued on behalf of Prairie Operating Co. VANCOUVER, BC, July 23, 2025 /PRNewswire/ -- USA News Group News Commentary – U.S. crude inventories continue to shrink despite efforts by the current administration to rebuild domestic stockpiles, with the latest EIA data showing a 3.9 million barrel decline. Earlier this year, the EIA projected strong domestic crude and gas production through 2030, even as OPEC now expects global oil demand to grow well beyond 2050, fueled in part by surging power needs from AI-focused data centers in the Middle East. In the U.S., President Trump's AI Action Plan is expected to accelerate investment into domestic energy sources—positioning select non-OPEC producers to benefit from the trend, including Prairie Operating Co. (NASDAQ: PROP), Ring Energy, Inc. (NYSE-American: REI), Amplify Energy Corp. (NYSE: AMPY), Matador Resources Company (NYSE: MTDR), and Obsidian Energy Ltd. (NYSE-American: OBE) (TSX: OBE). Meanwhile, the Strategic Petroleum Reserve remains depleted, and Energy Secretary Chris Wright warns that refilling it to prior levels could cost US$20 billion and take years. That prolonged timeline, coupled with accelerating AI-driven energy demand, is drawing fresh attention to the importance of stable, domestically sourced oil and gas supplies. Prairie Operating Co. (NASDAQ: PROP) has remained a stealth operator in the energy space, steadily growing its position in the Denver–Julesburg Basin without drawing much attention. Over the past four months, the Houston-based driller has methodically built scale while maintaining a disciplined capital approach that continues to resonate with cost-conscious investors. In its latest strategic addition, Prairie acquired a portion of Edge Energy's assets for US$12.5 million, securing roughly 11,000 net acres, 190 boe/d of current production, and 40 locations ready for drilling. 'This strategic and highly accretive bolt-on acquisition enhances our existing footprint in the DJ Basin,' said Edward Kovalik, Chairman and CEO of Prairie. 'With a high working interest, established cash flow, and development-ready drilling locations, this transaction aligns with our capital allocation strategy and adds near-term value and long-term inventory.' Prairie financed the Edge Energy acquisition through its reserve-based lending facility, avoiding any equity dilution. The flexibility comes thanks to a June update, when Prairie confirmed a US$1 billion RBL led by Citibank. On June 9, the lending syndicate—which now includes Bank of America and West Texas National—reaffirmed a US$475 million borrowing base following a review of Prairie's expanded reserve profile. Operational momentum continues to build. In late April, Prairie began completions on nine drilled-but-uncompleted wells at its Opal Coalbank location, with first oil expected this summer. Those follow the 11-well Rusch Pad, which was spudded on April 1 and features alternating 2-mile laterals targeting the Niobrara and Codell formations. Initial production from Rusch is expected in early August, setting up back-to-back volume catalysts. Prairie's broader expansion is anchored by its US$602.8 million acquisition of Bayswater Exploration assets, which closed in late March. That deal boosted daily production by approximately 25,700 boe, added 77.9 MMboe in proved reserves, and delivered more than 600 future drilling locations across 24,000 net acres. At a purchase price of less than 0.7× proved PV-10, the assets offer firm value support under the stock. 'The addition of the Bayswater Assets further establishes Prairie as a leading operator in the DJ Basin,' said Gary Hanna, President of Prairie. 'These assets are a strong complement to our existing portfolio, and we remain focused on maximizing operational efficiencies, optimizing production, and delivering sustainable growth for shareholders.' Prairie now holds approximately 60,000 net acres in the DJ Basin, with a runway of over 550 economic locations and leverage holding steady near 1× EBITDA. Production remains weighted about 70% to liquids—a favorable profile as rising AI-related power demand lifts both crude and associated gas fundamentals. With new wells at Opal Coalbank and Rusch nearing first production, Prairie's execution timeline is about to be put to the test. CONTINUED… Read this and more news for Prairie Operating Co. at: In other recent industry developments and happenings in the market include: Ring Energy, Inc. (NYSE-American: REI) has selected Veriforce as its exclusive contractor management partner to enhance safety, compliance, and operational efficiency across its expanding network. 'Our goal was to free up time with our field and office personnel, improving how we verify contractor insurance and MSAs,' said Chris Gafford, HSE Manager for Ring Energy. 'More importantly, we needed a better way to understand how our contractors are handling safety. Veriforce provides that insight.' The move centralizes contractor oversight and integrates training programs like SafeLand and H2S awareness to streamline field readiness. The initiative reflects Ring's continued growth in the Permian and its commitment to risk reduction and workforce scalability Amplify Energy Corp. (NYSE: AMPY) has sold its non-operated Eagle Ford assets to Murphy Exploration & Production for US$23 million, aiming to strengthen its balance sheet and reduce debt. 'Reducing debt and accelerating Beta development are core tenets of our go-forward strategy,' said Martyn Willsher, President and CEO of Amplify. 'This deal is consistent with both of these objectives, and we believe we are receiving fair value for the divested assets. We will continue to look for other opportunities that align with our strategic intent.' The proceeds may also fund the return of previously deferred Beta field development wells. The divestiture supports Amplify's pivot toward a more focused operational strategy centered on higher-return assets. Matador Resources Company (NYSE: MTDR) has successfully completed a major expansion of its Marlan cryogenic gas processing plant in New Mexico, boosting capacity from 60 MMcf/d to 260 MMcf/d. 'We are pleased to announce the start up of the expansion of the Marlan Plant,' said Joseph Wm. Foran, Chairman and CEO of Matador. 'The increased processing capacity at the Marlan Plant should allow San Mateo to continue to provide Matador with reliable flow assurance in our Ranger and Antelope Ridge asset areas in Lea County, New Mexico. The Board and I congratulate and thank the members of our midstream and operational asset teams – especially the teams in the field – for the significant value they have created through their extra efforts to complete the Marlan Plant expansion on time and on budget.' The project supports both Matador's operations in the Delaware Basin and third-party volumes through its midstream affiliate, San Mateo. Alongside the infrastructure upgrade, Matador received a corporate credit rating bump from Fitch to BB and saw its US$3.25 billion borrowing base reaffirmed by all 19 participating lenders. Obsidian Energy Ltd. (NYSE-American: OBE) (TSX: OBE) has unveiled a US$110–120 million second-half capital program, focused on drilling 28 operated wells across its Peace River and Willesden Green assets. 'With the disposition of our Pembina asset during the second quarter, coupled with the recent tariff and OPEC+ induced commodity price volatility, we have adapted our approach to 2025 accordingly,' said Stephen Loukas, Obsidian Energy's President and CEO. 'Post-disposition, due to our enhanced liquidity position as well as the continued discount that our shares trade to intrinsic-value, we have opted to moderate our near-term production growth via the reduction in capital expenditures and have chosen to drive growth in per-share metrics via incremental share buybacks. Moreover, during the second half we are extending infrastructure to our Open Creek field which will, upon completion, allow us to aggressively grow our Cardium and Belly River production volumes as market conditions improve. Furthermore, we plan on building an all-season road to our Nampa field that will bring ~200 barrels per day of currently shut-in oil back on production and enable pursuit of a full field development plan.' The company aims to exit 2025 at approximately 29,000 boe/d, supported by infrastructure upgrades and moderate production growth. Obsidian also plans a Canadian share exchange offer involving its stake in InPlay Oil Corp. as part of its capital return strategy. Source: CONTACT: USA NEWS GROUP [email protected] (604) 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ('MIQ'). MIQ has been paid a fee for Prairie Operating Co. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Prairie Operating Co. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Prairie Operating Co. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares of Prairie Operating Co. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by Oncolytics Biotech Inc.; this is a paid advertisement, we currently own shares of Prairie Operating Co. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. Logo - View original content to download multimedia: SOURCE USA News Group
