Locator: 48637B.
Amazon: announces one-millionth robot joins the workforce. Amazon's goal: to have more robots then union members.
Tesla's 2Q25 numbers: in line with estimates; shares popping 6%.
Apple: link here.
Banks: increasing dividends.
MNM (m&m's): Cramer's new acronym -- only three tech companies outperform i 2Q25, 1H25
- MSFT, NVDA, META
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Back to the Bakken
WTI: $66.04.
New wells:
- Thursday, July 3, 2025: 4 for the month, 4 for the quarter, 444 for the year,
- 40887, conf, Grayson Mill, Bice 18-17F XS 1TFH,
- Wednesday, July 2, 2025: 3 for the month, 3 for the quarter, 440 for the year,
- 41250, conf, CLR, Thronson FIU 11-28H2,
RBN Energy: Keyera goes nationwide with purchase of Plains Midstream Canada's NGL business.
Canada’s energy industry has seen more than its share of merger-and-acquisition activity this year. The latest big deal involves the midstream sector, with Keyera agreeing on June 17 to buy Plains Midstream Canada’s NGL business in Canada for C$5.15 billion ($3.75 billion). The purchase will transform Alberta-focused Keyera into a nationwide NGL machine and caps its very busy first half of 2025. In today’s RBN blog, we take a closer look at the agreement and how it ties into other recent initiatives by the Canadian midstreamer.
There’s been a flurry of M&A up north. Small property and production asset purchases/sales that barely make a flash on the radar of the industry’s press have been commonplace, but the recent blockbuster C$15 billion ($10.7 billion) merger between oil and gas producers Whitecap Resources and Veren Inc. set the Canadian oil and gas producing sector abuzz. And all of this is happening in an environment where Western Canada’s natural gas prices have been, at times, trading at mere pennies per MMBtu this summer as crude oil prices swing wildly on U.S. tariff zig-zags and recent geopolitical turbulence in the Middle East.
Not to be outdone, Canada’s midstream space, often quietly working behind the scenes to process, store and transport natural gas, NGLs and crude oil, saw its own large-scale transformative acquisition announced a couple of weeks ago. Keyera’s plan to buy substantially all of Plains Midstream Canada’s NGL assets in Canada, while subject to shareholder and regulatory approvals, is expected to close by Q1 2026. Before we get too deep into the details of the deal, let’s take a very quick tour of both companies in terms of their operations and footprints across North America, starting with Keyera.
Keyera Corp. is a Calgary, AB-based midstream company that operates 12 natural gas processing plants, NGL fractionation plants, pipelines, storage, and rail- and truck-loading terminals as well as the Alberta EnviroFuels (AEF) plant, a manufacturer of iso-octane, an important component of motor gasoline — all located in Alberta. The company also operates two storage sites, one for crude oil (Wildhorse Terminal) at Cushing, OK, and the other for NGLs (Oklahoma Liquids Terminal) near Tulsa, OK.
