Independent Operators Doing Their Part To Cut Oil Production In The US -- April 9, 2015

CNBC is reporting that oil companies are cutting back. A screenshot from the article as it was posted at 5:25 p.m. CT, April 9, 2015:

Genscape seems to have some data that many of us don't have, suggesting that six companies cutting back in just four on-shore plays in the United States could result in a cut of "about 373 million bopd."

For newbies: the US, Russia, and Saudi Arabia each produce about 10 million bopd.

Let me now when/if CNBC corrects this typo.

************************

For The Archives

This matters not at all to me, but it is interesting. Don sent me the link. USA Today is reporting:

Private equity firm Blackstone and Wells Fargo are close to a deal buy a real-estate portfolio valued at a whopping $30 billion from General Electric, according to a person with knowledge of the deal.

An agreement on the transaction -- part of GE's bigger plan to return to basic manufacturing -- could be reached as soon as Friday.

The sale, which includes warehouses, factories, malls, apartment buildings and other commercial properties spread across the globe, could mark the largest real estate sales since before the financial collapse. In 2007, Blackstone acquired Equity Office Properties Trust for $39 billion.

GE, known for lightbulbs and ovens, has been aggressively winding down its financial business, including loans and investments, in an effort to simplify its business and boost the stock price.

If the deal goes through, it will continue a period of dramatic change for GE. The company has been remaking itself for years to get out of banking and back into manufacturing.

Again, this is not an investment site. Do not make any investment or financial decisions based on anything you read here or think you may have read here.