As the chaotic manifesto of January gives way to the elusive temptations of February, so unfolds a revolutionary dawn of The Nightly Surge. What?? I don’t know… but it felt better than just saying: January’s over, it’s February and here’s The Nightly Surge. But I digress… How about we send off the first month of the year in style?! “Cool Hand” Kuegler already got you going in the morning, let’s see if we can keep it coming with an end of the month night cap. Here be the latest in the world of oil and gas.
Trump’s Latest Executive Orders May Be Burdensome For Oil
Borders, and tariffs, and bans, oh my! Sometimes you gotta lean on The Wizard Of Oz to get things cookin’.
Of all the energy sectors that may be affected negatively by President Trump’s most recent executive orders on immigration and trade tariffs, oil and natural gas companies–industries he vowed to help during his election campaign–stand to be hit the hardest. On Monday, energy companies led declines in the Standard & Poor’s 500 Index. The American Petroleum Institute said Tuesday it was “concerned” by Trump’s border tax adjustment. And by “concerned” I believe they mean, “F’n pissed!”
Michael Webber, deputy director of the Energy Institute at University of Texas at Austin, says: “Oil and gas is going to have the most heartburn from this… “ If Mikey Webber’s talks about “heartburn”, you know he’s pissed. #StandWithTums.
Just last week, Trump said during a speech that he’d work to “unleash the full power of American energy.” On Monday, energy companies–from oil and gas explorers to electric utilities–withheld comment while assessing the impact of his immigration order on their businesses. The American Fuel & Petrochemical Manufacturers also declined to comment, and Edison Electric Institute similarly didn’t have a statement.
Translation – Oil, gas, electric companies… everyone is “F’n pissed.”
Liberty Company, CEO Face Litany Of Charges In $16M Securities Fraud
The SEC filed a lawsuit against JBH Consulting Group in Liberty and CEO Brian Hudnall, accusing them of securities fraud related to investments in oil and gas ventures in Kansas and Texas. Safe to say when it comes to JBH’s oil future… It’s not in Kansas anymore. If that’s not a smooth Wizard Of Oz call back I don’t know what is. #GetOverYourselfKrintzman.
According to the SEC, JBH told investors the company would transfer titles for the oil and gas wells to the joint ventures that invested in them, but JBH never transferred the titles. Call me crazy, but in a deal that hinges on “transferring titles”, not transferring the titles is kind of a red flag.
The SEC also accuses JBH of marking up the costs of drilling and well completion from 30 to 50% higher than the actual costs, then keeping the difference between the marked-up costs and actual costs as undisclosed profits. I have to admit, I’m starting to like The JBH style here, if you’re gonna break the law, smash that thing… go for it! Leave no doubt! Show no mercy!! Unleash the hounds!! Kick ‘em in the bal— Sorry… sometimes I get caught up in the moment.
The SEC further accuses JBH of telling investors that they would receive no management fee on certain offerings, but Hudnall would take 15 to 20% of each investment as his undisclosed commission and also would give a 15 to 20% commission to sales employees for each sale they closed. Feels like Hudnall is a good boss! Takes care of his own! I trust his employees will visit him in prison… if they’re not on the run to Switzerland by sundown.
JBH could not be reached for comment and has not officially responded to the lawsuit. Translation. They’re probably “F’n pissed”.
Qingming Yang Promoted To Approach Resources Inc., Fort Worth President
Yang has been leading Approach’s operations group since 2012, and will retain the title of CEO. Yang has more than 25 years of domestic and international exploration, technical, and operating experience in the oil and gas industry. He joined Approach in July 2009 as vice-president, exploration, and was named executive vice-president, business development, and geosciences, in November 2010.
This is a big story to me because, in order for there to be justice in the world, Approach needs to find someone with the last name of Ying to run things with Yang. “The Ying and Yang approach”. You’re telling me stock prices wouldn’t skyrocket on name brand alone?! Come on, Yang! Get your Ying on!
There you have it. As they say in America, Adios January and bonjour, February! “King Kong/Cool Hand” Kuegler will get you cranking and up to speed with all the latest in oil & gas with his The Morning Surge post tomorrow… until then, night night.