Locator: 49675INVESTING.
I may have to start posting chart of the morning, chart of the afternoon, and chart of the day in the New Year!
Wednesday, December 10, 2025
Wednesday, December 10, 2025
Locator: 49674B.
GE Vernova: AI is not a bubble.
Apple, foldable phones:
- will make more foldable iPhones than expected; link here.
- could claim 22% of foldable market; 34% of reveue in first year; link here.
AMGN dividend: raises dividend to $2.52 / share from $2.38; payable March 6, 2025 -- 5.88% increase from previous.
Motley Fool:
- top picks, December 8, 2025: Nvidia, Corning (GLW); link here;
- top pick, December 6, 2205: Cisco (CSCO); link here.
Note blog's disclaimer: this is not an investment site. This is a social media site with emphasis on the Bakken through education and entertainment. The author has eclectic interests and those interests often show up on the blog. Content and typographical errors will be present.
Three websites to surf during the midnight hours:
- Tickers, dividends: almost everything.
- TYWKIWDBI.
- YouTube.
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Back to the Bakken
WTI: $58.36.
New wells reporting:
- Thursday, December 11, 2025: 25 for the month, 148 for the quarter, 732 for the year,
- 41282, conf, Marlo Operating, TOSCO Branch 1,
- 41126, conf, Devon Energy, Lonnie 15-22 XW 1H,
- 41110, conf, Devon Energy, L And E 9-4 4H,
- 41833, conf, BR, Muri 3B-MBH,
- 41493, conf, CLR, Boulder Federal 5-4H,
- Wednesday, December 10, 2025: 20 for the month, 143 for the quarter, 727 for the year,
- 41325, conf, Hess, EN-Rice-155-94-1102H-7,
RBN Energy: with M&A, Anero homes in on West Virginia and exits Ohio. Link here. Archived.
The consolidation of upstream and midstream assets in the Marcellus/Utica continued this week with announcements by Antero Resources and Antero Midstream that they had reached agreements to acquire privately held HG Energy II’s extensive holdings in “almost heavenly” West Virginia and to divest non-core assets in Ohio to Infinity Natural Resources and Northern Oil & Gas. In today’s RBN blog, we detail the deals, which will make “the two Anteros” West Virginia-only companies, and discuss how the transactions affirm recent trends in Appalachia.
It was just a few months ago that we blogged about two big M&A deals in the Northeast. First, in Might as Well Jump!, we looked at EOG Resources’ $5.6 billion purchase of Encino Acquisition Partners (EAP), the Utica’s #1 producer of condensate. That deal, which closed on August 1, gave EOG its third “foundational” focus area (the others are the Eagle Ford and the Permian's Delaware Basin) and supported the view that the Utica really is an up-and-comer. Soon thereafter, in Fun, Fun, Fun, we discussed the plan by EQT Corp., the Marcellus/Utica’s largest gas producer, to buy Olympus Energy’s upstream and midstream assets in southwestern Pennsylvania for $1.8 billion in cash and stock. We pointed out that the Olympus deal, which closed on July 1, came on the heels of EQT’s August 2023 acquisition of Tug Hill’s gas production assets and XcL Midstream’s pipeline and processing assets in northern West Virginia for $5.2 billion.
The four deals that Antero Resources and Antero Midstream — two separate but closely aligned, publicly owned companies — announced on December 8 hit a lot of the same notes as the EOG and EQT transactions. Let’s start with the agreements with HG Energy II, which is backed primarily by Quantum Energy Partners. Antero Resources said it has entered into a definitive agreement to acquire HG Energy’s upstream assets for $2.8 billion in cash plus the assumption of HG Energy’s commodity hedge book. At the same time, Antero Midstream said it has agreed to buy HG Energy’s midstream assets for $1.1 billion in cash. Both deals are expected to close in Q2 2026.
Antero Resources currently holds about 475,000 acres in northern West Virginia — yellow-shaded areas in Figure 1 below show their general location — and produced about 3.4 Bcfe/d in Q3 2025 or, more precisely, 2.2 Bcf/d of natural gas and 206 Mb/d of NGLs. HG Energy, in turn, holds about 385,000 net acres (green-shaded areas) and produces about 850 MMcfe/d. (No gas/NGLs breakdown of HG Energy’s production was provided.) HG Energy also comes to Antero with more than 400 remaining drilling locations with average lateral lengths of about 20,300 feet. (More on that in a moment.)
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