Mike Haney

Succession planning is a crucial phase for any business – but especially for family-owned enterprises, where the transition from one generation to the next can significantly impact financial stability. Transitioning a family business to the next generation comes with unique challenges. And emotional dynamics and potential conflicts among family members can complicate the process. Transparent communication and involving all stakeholders in decision-making are crucial for navigating these challenges effectively. Above all, understanding the financial aspects of succession planning is key to ensuring a smooth transfer of ownership and management. Whether your aim is to transition leadership to the next generation or sell to an external party, strategic alignment between your long-term strategy and succession plan is paramount. In this week's article we look at key financial considerations that business owners should address when planning for succession. Click through to discover: • What you need to understand about debt. • The role that cash flow plays in succession planning. • Why long-term financial modelling is essential. • The importance of having an accurate assessment of taxes and transfer costs. You can read it here: https://lnkd.in/d3xG6Sp3

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"Extreme weather and continued population growth overwhelm the city’s primary utility. CenterPoint, which operates electric and gas utilities in six states, delivers electricity within a 5,000-square-mile territory that includes most of the Houston area. That region accounts for roughly a quarter of the state’s electricity demand due to the size of the population and the amount of business and industry. A review of regulatory filings shows that CenterPoint for years has struggled to make the investments it says are necessary to maintain the reliability of the system as it works to accommodate population growth and respond to severe weather, including extreme heat, winter storms, flooding and strong winds. In 2019, the company told regulators a substantial amount of work would be necessary to inspect the system, harden it against storms and make replacements as old wooden poles and other aging equipment became more likely to fail. Between 2019 and 2023, it spent $1.49 billion on system resiliency, including transmission upgrades, substation protection and pole replacements. Much of the work was focused on strengthening the distribution system, the network of lower-voltage wires that largely failed Beryl’s stress test. But the company has also spent heavily to strengthen and expand its system to support an influx of new residents and businesses. Between 2019 and 2023, it added about 300,000 new customers in the Houston area. During the same period, CenterPoint documented 15 extreme weather events around Houston including hurricanes, ice storms and tornadoes. It took CenterPoint at least two days to restore power following six of the events, with outages lasting for more than four days after two major storms in 2021. CenterPoint has on several occasions in recent years failed to meet reliability targets set by state regulators based on the company’s past performance. The company told regulators that parts of its system have been faltering even under normal operating conditions and straining during major weather events."

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Kinetik Gets Electric in 2Q To maybe no one’s surprise the nation’s largest midstream companies are enjoying one heckuva year now at midpoint. This, sealed with a kiss by Dallas-based Energy Transfer, which recently announced a staggering 44% increase in profit during 2Q. All in all, the Big Five of oil and gas infrastructure, to also include Enterprise Products, Williams, ONEOK, and Kinder Morgan, Inc., are reaping sweet benefits of record volumes and growing exports by way of new builds, expansions, and acquisitions to keep the party going. But for Permian producers, the Big Five aren’t the only game in town that’s growing and thriving. Reese Energy Consulting today spotlights Midland, Texas-based Kinetik Midstream, a Permian pure-player that in short order has become the Delaware’s largest independent gatherer and processor. The company’s $765 million acquisition in May of Durango Midstream, LLC, which expanded Kinetik’s Delaware “super system” into N.M., has already proved a superstar in 2Q. The company reported net income of $108.9 million vs 71.7 million the same time last year, processing 1.58 BCFD, and revising its guidance upward. According to CEO Jamie Welch, “A year ago, we had zero operations in the New Mexico Delaware Basin, and today, nearly 20% of our volumes are sourced from New Mexico.” Kinetik operates 4,700 miles of pipe across Texas and N.M., six gas plants, King’s Landing under construction, and a pre-FID on King’s Landing II. To that we say fabulous job, Kinetik, proving you don’t have to be a behemoth to become a neighborhood giant. What do you think? Learn more about REC and our natural gas and midstream consulting services at https://lnkd.in/ebXT2mS. Learn more about our online natural gas training courses at https://lnkd.in/g_jDyx_Y. #energy #midstream #ngls #naturalgas #permianbasin #reeseenergyconsulting

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Double Eagle IV has quietly added to its Midland Basin acreage footprint since the private E&P launched in 2022 with over $1.7 billion in investor commitments.   The latest iteration of Double Eagle is led by co-CEOs Cody Campbell and John Sellers, who in 2021 guided Midland Basin E&P Double Eagle III through a $6.4 billion sale to Pioneer Natural Resources.   After reloading with dry powder from EnCap Investments, Apollo Natural Resources and Magnetar Capital, Double Eagle IV is back to buying and drilling in the core of the Midland Basin.   Analysts say the experienced Double Eagle IV team has quickly developed one of the more attractive inventory portfolios among the shrinking list of private producers still standing in the Permian, and industry experts are keeping a close eye.   Double Eagle, unlike many of its smaller private peers, is drilling some of the most core portions of the Midland Basin, directly adjacent to where major players such as Pioneer, Diamondback Energy, Exxon Mobil Corp and ConocoPhillips.   Their operating arm, DE IV Operating LLC, are operating on leases in Martin, Reagan, Midland, Ector, Glasscock, Upton, Andrews and Howard counties, Texas.   The company’s Permian oil production totaled nearly 1.12 MMbbl this January, or an average 38,700 bbl/d, per the RRC’s most updated figures,   up from 96,000 bbl, roughly 3,100 bbl/d, in January 2023.   But Double Eagle IV’s value isn’t based on just existing oil production; It’s also based on the company’s high-quality portfolio of undrilled land.   It is estimate that they own 300 gross operated drilling locations across the core of the Midland Basin.   The land surrounding Double Eagle IV’s position is awash in a historic deluge of corporate consolidation, with many of the area’s oldest and largest operators getting scooped off the drawing board in a matter of months.   Exxon Mobil’s acquisition of Pioneer Natural Resources for $64.5 billion, including Pioneer’s net debt, will reshape the pecking order in the Midland Basin.   Diamondback Energy’s acquisition of Endeavor Energy Resources for $26 billion, including debt, was the largest takeout of a private oil producer on record, per Enverus data.   Occidental is making a smaller, albeit still massive, $12 billion acquisition of private E&P CrownRock LP for more running room in the Midland Basin.   Other smaller publics Civitas Resources, Ovintiv Inc., Vital Energy and SM Energy have also gotten deeper in the Midland Basin through M&A in the past year.   After well over $100 billion in deal making in the past 12 months, acquisitive operators are left with a much smaller slice of the Midland Basin pie to parse through for potential deals.   That’s why Double Eagle IV stands out so much among the rest of the private equity-backed E&Ps remaining in the Permian.   Experts anticipate Double Eagle IV will eventually approach the market for a sale, like the exit strategies for previous iterations of the company.

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On July 30th, the NYT published a news article warning of a “dangerous midsummer heat wave” expected to “overtake” much of the US in the first week of August. We had previously seen other reporting suggesting August as a whole would be subject to extreme temps (we also anticipated other media would be forthcoming with similar warnings as August unfolded, and they did). So, just as August was beginning, we posted our intention to audit the accuracy of these warnings. As is our practice, we revealed upfront the 30 weather stations in 15 states we'd sample—all airport locations (large and small) to ensure the availability of the data—across the US Lower-48. We also listed the ten days across August from which we would draw the sample. Here's a link to that post... https://lnkd.in/gbvJDnnh We've now completed the audit. While we'd hoped it would show that reporting and forecasts had improved over prior years, we were disappointed. The results are ugly. In fact, they've a face like thunder. Below is a summary... — Of the 300 daily highs sampled, only 2% (6) were higher than or equal to the record high for that day at that weather station. The majority occurred in the latter portion of the month, not the first week as warned. Only two locations set *new* record highs (Dodge City, KS with 108 F on Aug 18th and San Angelo, Tx with 106 F on Aug 21st). Two!! — A total of 166 (55.3%) daily highs exceeded the historic average high for the location. That means, during a period in which the media were breathlessly warning of dangerously hot conditions, actual highs appear to have come in *below* the historic average high almost *half* the time. — The August average high across all samples was 88.7 F. This is just 0.2 F above the historic average high across all 30 locations, and a whopping 13.1 F below the average record highs for the locations. — A heat island effect again seems evident in the data. To wit, the 15 large urban stations averaged highs of 89.5 F during the month… 1.8 F degrees above that of the 15 small-town weather stations (all of which were located within ~100 miles and in the same state as their urban counterpart). The truth is the real-world results once again don't comport with the widespread extreme heat many news media suggested was in store. In fact, high temps in August appear to have been very close to their historical average—remarkable given that we’re decades into a warming trend. Summer’s not over, and September can get hot itself... so stay cool. But beware of exaggerations by media with no "off" button when it comes to climate fear-mongering. 🌍🌡️👀 #climatechange #globalwarming

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We intend to deep dive into the Texas grid this fall. What we assume about the effects and costs of the Texas Energy Fund (TEF) will affect the quality of that analysis. This post summarizes what we understand and major questions we have at this point. We’ll adjust as readers provide feedback and we uncover more. What We Know… — The Public Utility Commission of Texas was directed by the Texas Legislature to administer the TEF to provide grants and loans to finance the construction, maintenance, modernization, and operation of electric facilities in Texas on ERCOT. Texans voted to create the TEF through a constitutional vote in Nov 2023. — By June of this year, the PUC had received 72 applications for TEF loans worth $24.41B and 38.4 GW of generation. In Aug, the PUC reduced the list to 17 projects, representing 9.7 GW of generation and $5.38B in loans. These projects now advance to the due diligence phase. — The loans are for twenty years, limited to 60% of a project's cost, and fixed at 3%. Only projects that represent 100 MW of incremental new dispatchable capacity are eligible to receive TEF funds. What We Think We Know… — Prior to going to referendum, the TEF was described in the media (and possibly by politicians) as a $5B fund to provide low-interest loans and grants to finance up to 10 GW of natural gas generation on Ercot. In fact, there is nothing in the referendum wording limiting the amount of taxpayer money that can be directed to the fund. Ergo, $5B can turn into $10B, $15B, or $20B. — Traditional utilities are excluded from participating in the program. As such, recipients can presumably look only to revenues garnered in the open energy market plus fees from ancillary services over their life of operation to payout their investors. In other words, these projects are all merchant plants. — The Senate bill calls for applications from “dispatchable electric generating facilities.” Technically, this means nat gas, coal and nuclear capacity. However, the shortlisted facilities appear to all be gas-fired plants—10 simple-cycle, four internal combustion, two combined-cycle, and one other. Most of the applications (13) were proffered by IPPs. The remaining four appear to be associated with municipalities or cooperatives. Major Questions We Have… — The short-listed projects represents about 9.8 GW of “potential” new generation. How much of this does the PUC expect to actually be built… and when? — What obligation to build exists should an application be approved? Our guess is none. If so, how long can they sit on an approved application before they must either build or abandon the project? — The TEF also includes a program for grants tied to performance over time. We saw something suggesting this could push the current amount of taxpayer money that could go to the fund from $5B to $7.2 B. Is this correct? What are we missing? What do we have wrong? 🏭⚡👀 #texas #ercot #naturalgas

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My earlier post cannot accept the length of this post as a comment. So we start fresh. Beau Whitney Scott Murphy Philip A. In 2015 I was working on a merger transaction for a Texas client. Oil prices had dropped from about $108 on Jun 20, 2014, to $44 by Jan 29, 2015. A nearly 60% price drop in 7 months. I flew out of Boston on a snowy February day, was booked on 3 flights, and finally got on a plane that wasn’t cancelled, only to land in Detroit and miss my connection (but my luggage didn’t). I had no clothes or toiletries and was dressed in jeans and a beat up gray hooded sweatshirt. I arrived in Houston the next morning with my luggage lost. I made it to the law firm and still recall the look on the receptionist’s face when I strolled in dressed as I was. She looked like she was about to tell me that whatever law service I needed, their firm didn’t do. As I chatted with the lead counsel on the deal, explaining my predicament, he told me that with the crashing oil prices, he was fielding a lot of calls from New York firms seeking to buy loans to drilling companies at a discount. Drilling companies were struggling, loaded with debt based on $100+ prices and were now drowning at prices under $50. But the debt had to be serviced. Many drilling firms just kept pumping. Think about this... Let’s assume a drilling company needs $10,000 a month to service its debt (these figures are for illustrative purposes only). Ignoring operating costs, the driller would need to sell 92 barrels to cover its debt service. When oil went to $44 a barrel, that same driller would need to pump and sell 227 barrels to cover their debt service. Desperate to ride out the price drop, drillers began to pump more oil in order to service their debt. That extra oil, as was explained to me, drove prices even lower. It was a mad dash to the bottom until enough firms went bankrupt to allow supply and demand to come into balance and the markets to recover. It took until June 27, 2018 for oil prices to recover to $77.40 a barrel. This is the lens through which I see cannabis. When prices drop, producers keep cranking out more flower to create cash flow to stay afloat. I have talked with cannabis owners (2022/2023) that had 5-yr old product in their vault. Oil is expensive to store, but it holds up over time. Agricultural products like cannabis, are perishable and lose value over time. Hence, holding all that old flower is simply a manner to lock in unrealized losses. Then point here is that cannabis markets will never self-regulate. Indoor cultivation is a high fixed cost business which means it is difficult to dial back production when prices drop. The fixed costs – including debt service on indoor grow facilities – continues. Leaving half of a warehouse devoid of plants doesn’t do much financially. Add in that the Cannabis Control Commission is far more reactive than forward-looking and one can imagine why there is no one to keep prices from crashing… again.

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So, let’s be quite clear about the fact that Texas, under Greg Abbott and supported by anti-patriots like the Midland Oil billionaire in this article, is the precise opposite of patriotic. The purpose of the Republican Party of Texas is to usher in White Christian Nationalism, which denies all Texans their constitutional rights. Tim Dunn believes that only white Christians should hold power and make decisions for all of us. He finances an endless line of Texas politicians who support his racism, while falsely claiming to be patriotic. He has backed every opportunity to undermine public education that doesn’t include his passion for a religious state and it’s not even a form of Christianity endorsed by any mainstream church. Baptist’s, Pentecostals, Methodists etc. all have policy statements warning about the threat from NAR, White Christian Nationalism and the NCC, National Council of Churches warned about this in a very long, detailed policy statement a couple of years ago. Y’all, our nation is built on a global philosophy revolving around the innate human rights and the focus of the Scottish Enlightenment, not the absurdity that Dunn, Abbott, Patrick, Paxton and the rest of the Texas legislature, is attempting to shove down the throats of all Texans. This is also the MAGA fantasy. We all have a constitutional birthright to worship or not, the beliefs that we choose. Just because thugs like Dunn and Abbott have the money and power, doesn’t mean that we have to bow to them at the ballot box. No one gets my constitutional rights, no matter how strong the bullying. I hope all Texans feel the same, at least those who still believe in our founding documents, regardless of which side of the aisle they prefer. Rights belong to all of us and remember, our constitution doesn’t even mention political parties. As Texans might say; Dunn and Abbott are the equivalent of what comes out of the south end of a north bound steer. Midland Reporter-Telegram Austin American-Statesman The Dallas Morning News San Antonio Express-News Houston Chronicle Fort Worth Star-Telegram Texas Monthly The Texas Tribune El Paso Times

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https://lnkd.in/e5Jnuu5M   Electric fleet vehicle startup Canoo Inc. furloughed 23% of its workforce, around 30 workers, at its Oklahoma City facility last week. Canoo manufactures what it calls “lifestyle vehicles” and “lifestyle delivery vehicles.” Included in its lineup are electric delivery vans, pickup trucks, and passenger vans. To date, the company has had high-profile orders from private, public, and federal entities such as Walmart (No. 7 on the FleetOwner 500: Private), NASA, and the U.S. Army. In 2022, Canoo purchased the former Terex plant in Oklahoma City for $34.27 million with the intention that it would be its main vehicle production facility. The company also has another plant in Pryor that manufactures batteries. Canoo Terex Corporation #EV     Here’s What a Trump Presidency Means for EVs, Oil - https://lnkd.in/eAZ9Ay2K https://lnkd.in/gBFR9NgU

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Donald Trump easily wins and everyone assumes it will be “drill baby drill”. But we have to first overcome many negative policies that are now staunchly in place. Under the Biden administration, the energy sector faced some serious regulatory challenges, especially in the oil and gas industry, which led to disruptions in the growth of domestic oil and gas production. For example, restrictions on new drilling leases, the pause on permitting LNG export terminals, and tougher, arcane environmental regulations on drilling operations were stifling to our industry development. One of the big opportunities with a new Trump administration will be to ease some of these regulatory bottlenecks, allowing oil and gas companies to ramp up production and infrastructure development—particularly with respect to the Permian Basin. The current pipeline capacity constraints and the LNG export terminal limitations are real hurdles, but with the right policy shift, those could be addressed, unlocking a much larger flow of energy exports. This can and will help counterbalance Russia’s influence in Europe by providing more natural gas alternatives to the continent. We also need to rebuild the Strategic Petroleum Reserve (SPR). The Biden administration’s decision to tap into the reserve to reduce gasoline prices during a time of soaring energy costs was politically driven, but it did leave the U.S. with less strategic inventory, which could be a vulnerability in the event of future geopolitical tensions or supply disruptions. Refilling the SPR, especially now with oil prices relatively lower than they were at the height of the pandemic, should be a priority for national security reasons, particularly given global instability. To me this is a "win-win" scenario for the Trump administration ahead: leveraging our domestic energy resources to ensure both energy independence and security, while also advancing our competitive position on the global stage. The focus on energy infrastructure—like pipelines and LNG facilities—is key to unlocking the full potential of the country’s natural resources. With the right policy environment in place, this could indeed be a major area of economic growth. I do see the Trump administration addressing more of a broad “all of the above” energy strategy—where fossil fuels continue to play their important role. With more certainty around the political climate and regulatory approach, energy companies will likely be more willing to make long-term investments that benefit everyone in the energy chain. It’ll be interesting to see how the new Trump administration balances these priorities, but it’s clear that many in the industry are eager to get started on the opportunities ahead. God bless Texas, President elect Trump and our domestic oil and gas industry. #Trump #Biden #oil #lng #naturalgas #thepermianfuelsamerica #SPR #energy https://lnkd.in/gWF55H-J

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TEXAS SEZ: "HOLD ‘EM ANTI-GUN-’N-OIL BOYS AT ARM’S LENGTH", Part IV Past participation by banks in big muni projects is no guarantee of being grandfathered in; anyone can be purged on the grounds of adhering to a clean-energy agenda. When Houston sold $756 million of bonds for the George Bush Intercontinental (perhaps even Intergalactic) Airport in mid-2023, two co-managers on the six-member syndicate were banks now either being threatened or already barred by the state attorney general. *As with any good witch hunt, those eager to avoid trouble are coming through with unequivocal pledges of allegiance.* Quite at odds with the fad among major corporations of signaling their green-energy-transition cred in splashy, expensive ad and social-media campaigns, JPMorgan Chase has been reiterating how it is among the world's largest financiers of fossil fuels, as well as cleaner energy sources. "JPMorgan Chase makes independent business decisions consistent with the law and based on what will advance the long-term interests of the people we serve – not a political agenda," said Lauren Blair Bianchi, a bank spokesperson. "These misguided policies seek to achieve the opposite at the expense of taxpayers." Other big banks under review by Paxton's office declined to comment, but RBC Capital Markets, which has been a lead underwriter on Texas muni debt before, pointed to its standing letter on file, certifying its compliance with the law. In the end, municipal officials in Texas, who, in George Bush parlance, are the deciders on such matters, are likely to follow the path of least resistance (i.e. the elimination, among other things, of a lot of due diligence) and simply choose a bank that openly pledges loyalty to the pro-fossil-fuel cause. Controller Brown, concerned that the AG’s review of big banks with a jaundiced eye could further shrink the ranks of muni underwriters, says, "what that potentially does is increase issuance costs as a result of decreased competition and it also potentially increases our risk.” Brown also pointed to the need for banks with substantial excess net capital to handle multi-billion-dollar muni deals and, in the case of taxable debt, to command sufficient reputation and reach to sell it to prospective overseas buyers. He also sees the irony of the fossil-fuel-boycott law possibly harming Houston. "We're the energy capital of the world. We support investing in energy." #copywrittenart

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Charlie Warzel writes in The Atlantic, the truth is, it’s getting harder to describe the extent to which a meaningful percentage of Americans have dissociated from reality. As Hurricane Milton churned across the Gulf of Mexico, there was an onslaught of outright conspiracy theorizing and utter nonsense racking up millions of views across the internet. The posts would be laughable if they weren’t taken by many people as gospel. Here's a sample of three of their tactics— 1) A number of “truth seeker” accounts on X that posted photos of condensation trails in the sky to baselessly allege that the gov't was “spraying Florida ahead of Hurricane Milton” in order to ensure maximum rainfall, “just like they did over Asheville!” Our Take 1: Yes, very concerning. Just like the untold numbers of posts, articles and photos we've seen over the years intentionally leading the public to believe that visible water vapor rising from evaporation towers of power plants is in fact CO2 helping to drive climate change. We agree, such gross inaccuracies aren't helpful. Hope they stop. 2) Scrolling through social media platforms, watching them fill with false info, harebrained theories, and doctored images—all while panicked residents boarded up their houses, struggled to evacuate, and prayed that their worldly possessions wouldn’t be obliterated overnight—offered a portrait of American discourse almost too bleak to reckon with head-on. Our Take 2: Yeah, we feel ya. We've seen totally unhinged posts in social media groups supposedly dedicated to climate science suggesting that in the next decade floods of Americans will be forced to migrate to Canada from their homes in the heart of the US because of global warming—all becuase of slow-moving and relatively small increases in average temps. And, by the way, who knew Canada was such a garden spot? 3) To watch as real information is overwhelmed by crank theories and public servants battle death threats is to confront two alarming facts—first, that a durable ecosystem exists to ensconce citizens in an alternate reality, and second, that the people consuming and amplifying those lies are not helpless dupes but willing participants. Our Take 3: We get it. Just a few months ago, United Nations Sec General Antonio Guterres called the fossil fuel industry "Godfathers of climate chaos." Totally unhinged stuff that journalists and climate activists reported as if it was really news. And it's only getting worse as it becomes increasingly clear the public neither believe nor trust him and those of Gutierrez and his ilk when it comes to climate change. Weird how the people revolt when they feel mislead, huh? ⛈️ 🌍🌡️👀 #weather #climatechange #globalwarming

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Permian gas to oil ratios keep going up. That means more gas to deal with for the same amounts of oil. We've been told that the negative prices for natural gas in the Permian will be resolved once the Matterhorn pipeline starts up. Get ready for managed expectations. "The Matterhorn is on line and moving little bits of gas," Permian Resources executives said, noting the pipe should be "moving a real amount of gas in the next few months and we're hoping to at least see Waha turn positive." There is so much excess gas in the Permian, much of it currently being flared or vented, that even this big new pipeline doesn't fix the problem. At the same time oil production is peaking in the Permian and there is nowhere to dispose of all the toxic wastewater. When the Matterhorn doesn't solve the problem, we will be told the solution is more pipelines. That is always the solution but then it never does solve the problem. Remember when we were told that once there was sufficient pipeline capacity in Canada that the discount for WCS would disappear? Well Trans Mountain is up and running and the discount is currently $14 a barrel.

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My post today for Steve Reese and Reese Energy Consulting. Oil Royalty and the Houston-Guyana Connection Worlds are colliding today in a flurry of news headlines from the nation’s two-largest oil and gas companies, rivals in the Permian sharing an on-ice partnership in the gift that keeps giving known as South America’s Guyana. Houston-based ExxonMobil and Calif.-based Chevron, the King and Queen of crude production—and last year’s largest megamergers coming in at $60 billion and $53 billion, respectively—have a few things today to share with us mere mortals. Reese Energy Consulting is following the latest from our U.S. oil royalty in three chapters: Hello, Neighbor, Love Me Two Times, and Stuck in the Middle with You. In an electrical shock to some and a what-the-hell-took-you-so-long from others, Chevron says it will pack up its Golden State headquarters and relocate to Houston, where sources say a neighborhood welcome party could be in order. But maybe not so fast. Exxon and Chevron have also released simultaneous 2Q earnings reports on this auspicious day, but only one is scoring the love beats. Exxon has announced a $9.2 billion profit, largely resulting from its acquisition of Pioneer Natural Resources Company crowning it the Permian’s largest producer, and its extraordinary crude production in Guyana. Chevron reported adjusted earnings of $4.7 billion, citing refinery woes but no doubt stymied by last year’s acquisition of Hess Corporation and a 30% stake in the Exxon-led consortium controlling all of Guyana’s oil production. Which brings us to our third chapter, where we find Chevron stuck in the middle of its Hess buy with Exxon. The King and Queen, locked in a battle of wills over a right of first refusal in Guyana’s land o’ plenty, won’t likely see an arbitration court now for at least another year. What do you think? Learn more about REC and our oil and gas consulting services at https://lnkd.in/eAebAz8. For more information about our online natural gas training courses, visit https://lnkd.in/gzcfeQqC.       

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Investment opportunity alert! 4 Express Car Washes in Houston → Here’s why you should invest… 1. High growth region: The Houston Metroplex is one of the fastest-growing regions in the United States. 2. High vehicle ownership: Ideal market for Express Car Wash operations due to high vehicle ownership rates. 3. High traffic: Sites boast daily traffic counts of 34,000 to 58,000+, ensuring a steady stream of potential customers. 4. Strong economy: Houston's robust economy supports the demand for car wash services. 5. Existing demand: Two of the car washes already have over 3,500 subscribed members, indicating strong existing demand and customer loyalty. 6. Exclusive opportunity: Limited private investment available on a first-come, first-serve basis, ensuring exclusivity. ….. This is a 506(c) offering, available only to accredited investors, providing a layer of security and compliance. Conclusion? Investing in CCWRM 4H LLC's 4-Pack Express Car Washes presents a lucrative opportunity in a high-demand, essential service industry. With strategic locations, a robust customer base, and strong financial backing, this venture promises attractive returns and long-term success. Don’t miss out on this exclusive opportunity to diversify your portfolio with a resilient and profitable investment. Send me a private message to attend our webinar or register to the webinar through this link: https://lnkd.in/gU3Qcazw Join the webinar to get access to the recording. It's time to take that leap in your Express Car Wash investing journey. I’ll see you soon! P.S. Each site was analyzed for area profile, competition, accessibility, visibility, and traffic speed, resulting in high site scores and reduced risk.

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Let's do some grid-outage math... Hurricane Beryl, a legit Cat 1 storm, hit the Texas coast on July 8th. Power went out across the Houston area soon thereafter. At 2:41 PM, the site PowerOutage.us showed almost 2.8 million "customers" without power in the Houston Greater Metropolitan Area (GMA). Being in Houston, we've taken note of the outage count per the site at least once a day since. Via our conservative estimates, by mid-morning on July 16th, power customers in the Houston GMA had incurred 207 million customer-hours of outage. Some see this level of outages as "no big deal." Others say it's an indication of utter incompetence on the part of grid operators, particularly CenterPoint Energy. The truth is state officials and industry leaders should closely examine the event. Since we're not sure if any of their staff are inclined to perform the kind of analysis that might actually prove useful to them—or the average Texan—in understanding the magnitude of the outages, we decided to do it for them. The first thing we did was translate customer counts—almost 90% of which are households—in to "people." We saw where the FT figured an average of about four persons per metered customer. We think that might be high. We'll use 2.5 people instead, giving us an estimated total outage of 439 million people-hours. How much is that? Good question. Below is what the same amount of outage hours equate to for other population areas and combinations thereof in Texas, expressed in *consecutive days of full outage for 100% of all households* in the GMA: - Corpus Christi (36 full days of 100% outage... imagine the entire city blacked out for five weeks—in the summer?) - Brownsville + College Station + Midland (18 full days of 100% outage) - El Paso + Lubbock (12 full days of 100% outage) - El Paso + Brownsville + Texarkana (9 full days of 100% outage) - Austin or San Antonio (6 full days of 100% outage) Pro-tip 1 to Texas leadership: If the next outage in the Lone Star State looks like any of the above, it would be a bad thing. It therefore follows that Beryl's outages were bad. So please wake up, and do what you must to ensure gratuitous misery and darkness don't become a regular thing in our state. Pro-tip 2 to Texas leadership: CoreLogic estimates insured losses from Beryl in all of Texas could be up to $3.5B. By comparison, Hurricane Ike, a Cat 2 storm that hit a smaller and less populated Houston 17 years ago, resulted in insured losses (in 2024 dollars) *four times* as great. So let's dial back the "unprecedented" storm damage talk, shall we? Pro-tip 3 to Texas leadership: As reported by FT, Whisker Labs shows the grid in the Houston area has been the country’s least resilient and reliable for the past two and a half years. Again, not good. So, if you're inclined to try to tell the public that Beryl was an anomaly, and everything's actually fine with Houston's grid, don't. It won't fly. ⚡⚡‼️ #texas #energytransition #beryl

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