Oil Companies Announce Massive Merger Amid Rush to Snatch up Drilling Land
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Oil Companies Announce Massive Merger Amid Rush to Snatch up Drilling Land
Oil Companies Announce , Massive Merger Amid Rush , to Snatch up Drilling Land.
'The Guardian' reports that two United States oil
and gas companies have announced a massive
$26 billion merger in an attempt to increase output.
.
Diamondback Energy will purchase
Endeavor Energy Resources, creating
a company valued at approximately $50 billion.
This is a combination of two strong,
established companies merging to
create a ‘must own’ North American
independent oil company, Travis Stice, Chairman and chief executive of Diamondback, via 'The Guardian'.
Endeavor shareholders will reportedly
receive about $117 million in Diamondback shares,
as well as an additional $8 billion in cash.
.
The merger will see current
Endeavor shareholders retain just under
40% of the newly created company.
The latest news comes amid a wave of
mergers aimed at increasing output by purchasing
rivals who own the rights to proven oil reserves.
October saw Chevron make a $53 billion deal to
purchase Hess and ExxonMobil finalized a $59.5
billion acquisition of Pioneer Natural Resources.
October saw Chevron make a $53 billion deal to
purchase Hess and ExxonMobil finalized a $59.5
billion acquisition of Pioneer Natural Resources.
The recent acquisition of Endeavor is focused on boosting
extraction of oil and gas from the Permian oilfield,
which spans large swathes of New Mexico and Texas.
In 1979, Endeavor was founded with a single
well in the Permian oilfield and now produces
approximately 400,000 barrels of oil per day.
The International Energy Agency (IEA) has warned
that new fossil fuel developments will push the
world past global warming safety thresholds
Rashee Rice has been accused of hitting a photographer so hard in the face during an altercation outside of a Texas nightclub earlier this week, he left the man.. TMZ.com
The disappearance of Rupesh Chandra Chintakindi, a 25-year-old student from Telangana studying in Chicago, has alarmed the Indian community. Last seen on May 2nd, efforts to locate him have been fruitless. He vanished after allegedly traveling to Texas to meet an unidentified individual. His case highlights a troubling trend of Indian students facing danger abroad, prompting calls for increased safety measures.
#RupeshChintakindi #Telangana #IndianinUS #IndianStudents #Texas #Chicago #IndianCommunity #USnews #Indianews #Worldnews #Oneindia #Oneindianews
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Biden Administration to Invest $8.5 Billion , in Intel’s Computer Chip Plants.
Biden Administration to Invest $8.5 Billion , in Intel’s Computer Chip Plants.
In addition to $8.5 billion in direct funding, $11 billion will be provided in loans.
The money will come from
the CHIPS and Science Act.
The funds will go toward "computer chip
plants in Arizona, Ohio, New Mexico
and Oregon," CBS News reports. .
According to Intel, the new funding and other investments will create a total of 30,000 jobs in manufacturing and construction.
According to Intel, the new funding and other investments will create a total of 30,000 jobs in manufacturing and construction.
The deal will help the U.S. to produce 20%
of the most advanced computer chips
in the world by 2030, according to
Commerce Secretary Gina Raimondo.
Failure is not an option — leading-edge
chips are the core of our innovation
system, especially when it comes
to advances in artificial intelligence
and our military systems, Commerce Secretary Gina Raimondo, on a call with reporters.
We can't just design chips.
We have to make them in America, Commerce Secretary Gina Raimondo, on a call with reporters.
Biden's funding announcement comes
amid a heated presidential campaign.
Administration officials want to get chip technology funding
"out the door as quickly as possible so that the Biden campaign can point to concrete progress on one of the
White House's signature programs," analysts say.
Intel CEO Pat Gelsinger called the
CHIPS Act "the most critical industrial
policy legislation since World War II.".
We think of this as a defining
moment for the United States, the
semiconductor industry and for Intel, Intel CEO Pat Gelsinger, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
US Facing Winter Storms, , Thunderstorms and Wildfires This Week.
NBC reports that the United States is facing
a slew of weather-related risks on March 13.
A major snowstorm is forming over the Rockies and severe
thunderstorms are taking shape across the Plains, while Texas
and Oklahoma are facing an extreme risk of wildfires.
Five million people were under Winter Storm Warnings
on the morning of March 13, ahead of what could
turn out to be Denver's biggest snowstorm of the season.
Five million people were under Winter Storm Warnings
on the morning of March 13, ahead of what could
turn out to be Denver's biggest snowstorm of the season.
Heavy rain and thunderstorms are expected to hit
Denver through midday before plummeting
temperatures bring snow in the early evening.
Heavy snow with wind gusts up to 40 miles per hour
are expected to last through the morning of March 15 and
make travel across the I-25 corridor nearly impossible.
Meanwhile, four million people across Kansas,
Missouri and Nebraska are facing the risk of severe
storms, including large hail and isolated tornadoes.
On March 14, the storm is expected to
shift east, threatening 21 million people from
northern Illinois down to northeast Texas.
At the same time, the southern Plains
are facing an increased risk of wildfires.
The Storm Prediction Center warned
that critical-to-extreme fire danger
could result in a 'wildfire outbreak.'.
On March 13, Amarillo, Lubbock and Roswell, New Mexico
are all under Red Flag Warnings and considered at
extreme risk due to high winds and dry conditions
Credit: Wibbitz Top Stories Duration: 01:31Published
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