The U.S. is putting another 3,388 acres of federal mineral estate up for oil and gas leasing in Montana and the Dakotas. BLM will auction 20 parcels on Oct. 27, moving the acreage another step toward potential drilling. #Oil# #NaturalGas# #Energy#

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $GRML Greenland Mines Seeks 262 km² Expansion of Sarfartoq Rare Earth Project 👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: ➤ 𝗚𝗿𝗲𝗲𝗻𝗹𝗮𝗻𝗱 𝗠𝗶𝗻𝗲𝘀 applies for an additional 𝟮𝟲𝟮 𝗸𝗺² exploration license. ➤ Approval would expand Sarfartoq from 𝟭𝟵𝟮 𝗸𝗺² to 𝟰𝟱𝟰 𝗸𝗺². ➤ Expansion targets potential 𝗿𝗮𝗿𝗲 𝗲𝗮𝗿𝘁𝗵 mineralization east of ST1. ➤ ST1 contains 𝟲.𝟵 million tons Indicated at 𝟭.𝟲𝟬% 𝗧𝗥𝗘𝗢. ➤ ST1 also contains 𝟱.𝟯 million tons Inferred at 𝟬.𝟵𝟲% 𝗧𝗥𝗘𝗢. ➤ Initial Assessment estimates a high-case pre-tax NPV of $𝟮.𝟬𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻. ➤ Planned NdPr output equals roughly 𝟯𝟰% of 2025 non-China refining. ➤ 𝗡𝗱𝗣𝗿 represents approximately 𝟴𝟰% of modeled in-concentrate basket value. ➤ Company will advance 𝗦𝗧𝟭 while exploring satellite zones and new targets. ➤ New license remains subject to 𝗚𝗿𝗲𝗲𝗻𝗹𝗮𝗻𝗱 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 approval. 👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀: ➤ More than doubles Greenland Mines' prospective footprint around 𝗦𝗮𝗿𝗳𝗮𝗿𝘁𝗼𝗾. ➤ Creates potential for discoveries beyond the existing 𝗦𝗧𝟭 resource. ➤ Expands exposure to 𝗡𝗱𝗣𝗿, critical for high-performance permanent magnets. ➤ Could strengthen long-term non-China 𝗿𝗮𝗿𝗲 𝗲𝗮𝗿𝘁𝗵 supply diversification. ➤ New acreage currently has 𝗻𝗼 𝗱𝗲𝗳𝗶𝗻𝗲𝗱 𝗠𝗶𝗻𝗲𝗿𝗮𝗹 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲 and remains exploratory. 👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁: 𝗗𝗿. 𝗕𝗼 𝗠ø𝗹𝗹𝗲𝗿 𝗦𝘁𝗲𝗻𝘀𝗴𝗮𝗮𝗿𝗱, President of Greenland Mines Ltd.: “This application is about building Sarfartoq at district scale. At ST1, we now have a new S-K 1300 Mineral Resource Estimate, an independent Initial Assessment with exceptional High-case economics. We are advancing a defined rare earth neodymium and praseodymium dominated development asset — but we do not believe the opportunity ends at ST1.“Our strategy is straightforward: advance ST1 toward development, unlock the value of the less-developed known ST zones and systematically test the wider district for the next rare earth discovery.”

The oil deal with Venezuela does not take US proved reserves from 46 billion barrels to 111 billion. Majority control of 17 fields does not give America 7.1% of the world's oil, does not put it level with the UAE, does not add supply in 2026, and does not replace a barrel lost at Hormuz. EIA proved reserves are volumes recoverable with reasonable certainty from known reservoirs inside the United States. At year-end 2024 that was about 46 billion barrels of crude oil and lease condensate. A lease, a 55% offtake right, or "majority control" of Venezuelan acreage does not move oil across a border on the ledger. Venezuela books it, and already does. Those barrels sit inside its 303 billion. Which makes the 7.1% figure double counting. Venezuela's reserves are already inside the 1.57 trillion world total. Putting 65 billion in the US column counts the same oil twice. Caracas also did not say proved reserves. It said 17 fields with a "proven potential" of 65 billion barrels, which is not a classification that exists under SEC or SPE-PRMS rules. The number has moved accordingly: Axios put a similar field list at over 90 billion, a US official said 63. There is no published agreement, no named operator and no audited reserve report behind any of them. The 17 fields have not been named either. Reuters, which reviewed the list under negotiation, described a mix of undeveloped Orinoco acreage and mature Lake Maracaibo blocks. Orinoco crude is 8–10° API, high sulfur, high metals. It needs diluent, steam and upgraders, plus pipelines and terminals that need billions in repairs first. Venezuela produces roughly 1.1–1.2 million b/d today. The 100-year term does not exist in Venezuelan law. The reformed hydrocarbons law caps mixed companies at 25 years plus a single 15-year extension. These are not the barrels Hormuz carries. The strait moves Murban, Arab Light, Basrah and Kuwait Export, light to medium grades that refineries across Asia and Europe are built to run. Extra-heavy Venezuelan sour is coking feedstock. It competes with Maya and Canadian heavy on the US Gulf Coast. It does not replace a lost Gulf barrel in Ningbo or Rotterdam. Access to future barrels, if the contract holds and the fields get built, is a long-cycle supply story. It is a contract, not a reserve. Only one of those appears on the EIA ledger.

🚨🇺🇸🇻🇪 Washington is close to locking up 17 Venezuelan oil fields for American companies Sources tell Reuters the deal would let the U.S. government secure a group of fields developed by American producers, with the resulting supply guaranteed for the United States. A lease is under discussion as the legal model, followed by an auction to divide the fields. The list spans green acreage in the Orinoco Belt and mature areas in Lake Maracaibo, some currently run by a small Chinese firm on a contract signed under Maduro. Venezuela is also weighing an exit from OPEC, which it helped found in 1960. Look at what the Strategic Petroleum Reserve holds now: about 290 million barrels, roughly 41% of capacity, drained by Ukraine and then again by the Iran war. Gas sits near $4.11 with the midterms in November. Six months of squeezing Iranian crude has left Washington leasing oilfields in a country whose president it captured in January, and taking them from a Chinese operator on the way through. Source: Reuters, Axios / Writer: Daniel