Locator: 49127B.
Tim Walz: says he will run for re-election in 2026.
If he wins, he will be the longest-serving governor in Minnesota's history. Explains a lot.
Surrounding states watching closely, this "California-on-the-Prairie."
If the state can afford it, Minnesota will have nation's first single-payer state health care program. Link here. My hunch: this will be the "plank" on which Tim Walz wins or loses. Watch outcome of the NYC mayor race to see how Walz might do.
My hunch: Tim Walz runs and wins. Remember, his presidential / vice-presidential ticket came in second. Bernie Sanders, Pocahontas, Gavin Newsom, many others cannot make similar claim.
Hamas: to use remaining hostages as shields.
TikTok: nailed it. Oracle will buy.
Robert Redford: died
US retail sales: come in strong, stronger than expected.
AAPL: nice little jump at the open.
Chord: nice little jump at the open.
ORCL: nice little jump at the open.
Schwab's Sonders: expects a 25-basis point cut; Dow turns sharply down.
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Back to the Bakken
WTI: $64.44.
Combination of "Gaza Burning" (Israel to launch large-scale invasion to take Gaza City; market will be disappointed by JPow's decision tomorrow; all major analysts suggesting oil shortage going forward if no new investments; Ukraine droning Russia's refineries; Russia says it may need to start limiting oil exports.
Apparently IDF have surrounded Gaza City.
New wells:
- Wednesday, September 17, 2025: 24 for the month, 117 for the quarter, 557 for the year,
- Tuesday, September 16, 2025: 24 for the month, 117 for the quarter, 557 for the year,
- 40768, conf, Hess, HA-Grimestad-152-95-3031H-10,
- 39740, conf, Grayson Mill, Darlene 13-24F XW 1TFH,
RBN Energy: in midstream space, a medley of natgas and produced water M&A and IPOs.
This summer, like the spring, winter and fall that preceded it, has seen
a lot of dealmaking among midstreamers. And not just M&A and
divestitures by the folks who gather, transport and process hydrocarbons
but a major acquisition — and a rare IPO! — in the produced water slice
of the midstream pie. Apples and oranges, maybe, but there are two
common themes, namely that bigger is better and that zeroing in on core
areas is key. In today’s RBN blog, we discuss some of the most
significant midstream deals of Q3 2025.
In our most recent look at midstream dealmaking at the end of Q2,
we looked at Brookfield Infrastructure Partners’ roughly $9 billion
acquisition of the Colonial Pipeline system; Targa Resources’ $1.8
billion purchase of the remaining 45% ownership interest in what had
been the company’s 55/45 Badlands joint venture (JV) with units of
Blackstone; and Hess Midstream LP’s buyout of Global Infrastructure
Partners’ (GIP) 7.2% ownership interest in the master limited
partnership (MLP) for $560 million. (Chevron, which closed on the
acquisition of Hess Corp. in mid-July, now holds a 37.2% stake in Hess
Midstream, with public shareholders owning the other 62.8%.)
Today, we discuss an even more diverse group of midstream deals,
beginning with what may be the most valuable acquisition of a produced
water specialist ever. Western Midstream Partners said August 6 that it will buy Aris Water Solutions
in a deal valued at about $2 billion, including $1.5 billion in equity
and cash and the assumption of about $500 million in debt. The
transaction is expected to close in Q4 2025.
Figure 1. Western Midstream’s and Aris Water Solutions’ Produced Water Assets. Source: RBN
