Locator: 47149B.
EVS are tracked here.
Story of the day, link here:
The California-based startup is winding down its operations, having burned through nearly all its cash and defaulting on a debt agreement that leaves it on the hook to repay around $180 million. Fisker faces an ever tighter timeline to negotiate a rescue package, with a key agreement protecting it from creditors due to expire on May 17. The company told employees that June 28 would be their last day at work if a deal isn’t found. On Monday, it announced it had raised a few more million dollars, in a convertible debt deal that matures on June 24.
Fisker’s collapse would add to the pileup of troubled and failed automotive startups that rode the wave of investor zeal for EVs during the pandemic. These young companies raised billions of dollars with bold promises to upend the more than century-old car business. Investors also were game to bet on finding the next Tesla, the EV maker with an eye-popping share price.
Fisker’s downfall underlines the stakes for cash-burning automotive upstarts, which are trying to break into a capital-intensive, low-margin industry dominated by a handful of deep-pocketed players. These young car companies have innovative ideas but struggled with the fundamentals of making and selling vehicles at a profit.
Comment: I believe there's a "newer" story Fisker has arranged some new financing. Not sure. Will look for the story.
Ah, here it is.
**********************************
Back to the Bakken
WTI: $77.86. Recession scare?
Thursday, May 16, 2024: 21 for the month; 85 for the quarter, 284 for the year
39877, conf, Liberty Resources, Overdorf W 158-06-1-12-1MBH,
Wednesday, May 15, 2024: 20 for the month; 84 for the quarter, 283 for the year
None.
None.
RBN Energy: why Permian production growth is slowing. Archived.
For the past decade, producers in the Permian Basin have been the driving force in domestic production growth, but lately there has been a hard-to-miss slowdown in incremental production rates for crude, gas and natural gas liquids (NGLs). While Permian producers are primarily motivated by crude oil economics, those volumes also come with a lot of associated natural gas and NGLs. These commodities are therefore fundamentally interlinked. So if there’s a hangup with one, the effects will be felt across the upstream and then cascade downstream.
There is a lot of money riding on these markets and the impacts of an extended slowdown in the Permian could be monumental, not just in the energy industry but also in the broader U.S. and global economies. In today’s RBN blog, we will examine what’s to blame for plateauing production in the U.S.’s most prolific basin and gauge what its big-picture implications might be.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.