Latest news with #Kelt
Times
04-07-2025
- Politics
- Times
Scot in Putin's army says Russia is ‘last bastion of common sense'
Jay Fraser, a former brewery worker with ultra-conservative and seemingly antisemitic views, has been serving in a volunteer unit of the Russian army since last year. It has never been clear exactly how the 24-year-old Scot and a handful of other Britons ended up enlisting in the Kremlin's invading force. For the first time, Fraser has hinted that before he signed up he received military training in an unnamed Balkan country. He made the revelation in an interview with a pro-Kremlin newspaper published in occupied eastern Ukraine. 'My sergeant likes to say that the training ground is not for real, it is playing at war, and that the real school is where the bullets are whistling,' he said. 'And he is right. When shells are bursting over your head and you can hear the cries of the wounded over the radio, that is when you understand what real war is.' The claim he was trained in the Balkans was published last month in Donetsky Kryazh, a Russian-language paper in the annexed Donetsk region. Fraser, who uses the call sign 'Kelt', later said on X that the journalist 'used some artistic licence but it is still pretty true to me'. The Scot, who is said to have converted to Russian Orthodox Christianity, is serving in a unit called Pyatnashka, which was originally formed in the unrecognised and self-proclaimed Donetsk Republic. An international brigade, now incorporated into the Russian military, it is understood to include a number of Orthodox Serbs. It was claimed in 2023 that there were pro-Russian paramilitary training camps in the Republika Srpska, an autonomous Serb region in Bosnia. These were vociferously denied. There are very few Britons believed to be serving in the Russian military. Another Scot, Ross McElvenny, lost an eye in action last year. Englishmen Benjamin Stimson and Aiden Minnis were also highlighted in state media. It is not clear how they were all recruited. Fraser in the latest report talked more about his ideology. Originally from Perthshire, his social media feeds contained antisemitic portrayals of Jews, calls for the 're-migration' of immigrants and support for President Putin. Speaking to Donetsky Kryazh, he claimed to support Scottish independence but loathe the SNP. 'Our proud nation is slowly but surely surrendering to an onslaught of liberal insanity,' he told the paper. 'We have become hostages to financial handouts from Westminster, and are selling our souls for sterling, and in return we get an illusion of prosperity.' In strikingly flowery language, he added: 'The soul of Scotland is still flickering but London is doing everything it can to extinguish the last flames. I don't think we should sacrifice our sovereignty for money, so I support independence. 'The spirit and soul of Scotland have definitely been oppressed. But when it comes to the values that are being put forward, Scotland is worse than the rest of Britain. For example, the SNP, which fights for independence, is the most liberal party in Britain.' This and other statements by Fraser echoed Putinist talking points about Scotland being a debauched liberal hellhole. Earlier this week a senior Kremlin figure mocked Scotland for its 'transgender centaurs' after police said suspects could ask for separate searches of their top and bottom halves. In what he described as a message to fellow Scots, Fraser said his fight was for them too. He said: 'If we win here that means there is a chance for Scotland. I believe that my homeland will remember its soul, its roots. But I have decided to tie my future with Russia, which is the last bastion of tradition, faith and common sense.' The Putin regime has sought to portray itself abroad as a fortress of traditional Christian values. Fraser also repeated previous statements that he was ready to kill British solders in Ukraine. He already believes there are intelligence services operating in the country. He said: 'If the British government is so stupid that it officially sends troops there then I will have no problem fighting against them. Combating the government that has destroyed my country has always been attractive to me.' The newspaper said Fraser was currently on the Kursk front. Asked what he wanted to do after the war, he said: 'In the long run I would like to bring Scottish ale and lager to Russia by opening up a brewery.'
Globe and Mail
24-06-2025
- Business
- Globe and Mail
CIBC analyst reveals his top natural gas stock picks
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow CIBC analyst Jamie Kubik provided more detail on his top picks in the natural gas space, 'Our investment preference continues to favor liquids-weighted Montney producers and we believe the secular tailwinds for natural gas should continue to see gas-weighted equities trade higher. Valuations on 2025E cash flow have continued to increase, and we believe 2026E valuations also have further room to expand. Given the subdued response in gas-directed drilling, we believe the fundamental outlook for North America remains supportive, particularly with a backdrop of increasing LNG export demand, strong expected power demand, and sector capital discipline ... Our top gas-weighted ideas include Kelt, NuVista, and Tourmaline … AAV and BIR demonstrate the highest cash flow torque to stronger gas pricing in 2026E. ... The cash flow change is relative to our base case price expectations in 2026E, which is running US$4/mcf NYMEX. We see AAV, BIR and TOU as providing the most torque to an improving NYMEX price environment... [technicals] NVA shows a new monthly buy signal more than $14, with a technical price objective toward $17.00-$17.90 levels … TVE has already broken out, exhibiting a cup & handle like pattern – often associated with accumulation. Share price has a technical measured-move toward the $6.20 level. KEL looks poised for a technical breakout from a three-year consolidation pattern that measures toward $9.20-$11.25 levels. TOU has a new weekly buy-signal. ' *** Canacord Genuity analyst Matthew Lee raised targets on two of the major banks in a Tuesday research report, 'The banks reinforce their hulls as they head into opaque waters. The biggest story of Q2 was the uniform decision by management teams to take large performing provisions to account for the current state of geopolitical opacity. On average, the Big 6 put through 17bps of performing PCLs, more than the prior three quarters combined. In our view, this should help soften the earnings impact of unforeseen economic adversity and is easily digestible given the group's capital position. Post-quarter, we have raised our total PCL expectations but view credit as relatively benign and unlikely to impede the banks' path to high single-digit EPS growth for F25E. As operational visibility improves, we note that each of the banks can release allowances, which could be a source of earnings growth in F26 but is not yet built into our forecast … Loan growth across the group was muted in the quarter as both consumers and businesses were hesitant to deploy capital in an uncertain geopolitical environment. While much still depends on global trade decisions, we expect commercial lending will likely be the first point of acceleration with companies eager to make investments if tariffs stabilize … our targets are maintained for BMO, CM, RY, and TD, and increased to $81.00 for BNS and $138.00 for NA' *** RBC Capital Markets analyst Josh Wolfson assessed valuations in the gold sector, 'We assess valuation trends at spot gold prices for ( 1 ) the broader gold equity sector over time, ( 2 ) companies relative to their historical trading ranges, ( 3 ) companies relative to their peer groups, and ( 4 ) spreads on typically pair -traded equities, given similar liquidity, scale, or correlation . 'Royalty valuations have remained stable, while senior producer valuations have rebounded slightly . At spot gold prices, our royalty coverage trades at 1.89 x P/NAV, compared to 1.81x/ 1.86x on a 1Y/ 3Y basis . Our senior producer coverage trades at 1.03x P/NAV, compared to 1.04x/1.31x on a 1Y/3Y basis . We note that producer valuations increased from near-lows of 0 .92x at our prior mid -May publication of this report . 'Notable company valuations relative to both their 1Y average and the 1Y spread vs . the peer group. Discounted: Barrick. Premium: Triple Flag, Sandstorm, and AngloGold Ashanti' *** Bluesky post of the day: Diversion: 'How AI infiltrated perfume' – The Verge
Yahoo
18-03-2025
- General
- Yahoo
An abandoned West Texas oil well has created a 200-foot-wide sinkhole
This story is published in partnership with Inside Climate News, a nonprofit, independent news organization that covers climate, energy and the environment. Sign up for the ICN newsletter here. UPTON COUNTY — A sinkhole around an old oil well is growing at an alarming rate on the Kelton Ranch in West Texas. Radford Grocery #17 was originally drilled as an oil well in the 1950s and later converted to a saltwater disposal well, according to state records. The well was plugged in 1977. The Kelton family, which owns the ranch, became alarmed recently as a sinkhole around the well rapidly grew. Water pooled in the bottom of the sinkhole. Then crude oil began migrating up from underground and formed a dark layer over the water. By mid-March, the sinkhole was roughly 200 feet in diameter and 40 feet deep, big enough to fit a four-story building. The smell of crude permeated the air. The family has stopped using a water well they fear could be contaminated. At some point the Radford Grocery well's plug failed, creating a connection between the water table and the oil reservoir underground. Because the well was previously plugged and has no active operator, there's no clear company the Keltons can turn to for help. The Railroad Commission, which regulates oil and gas drilling and plugging in Texas, has sent personnel to the site. But so far the Kelton family says there is no plan of action from the state agency. 'It can be fixed,' said Hawk Dunlap, a well integrity expert, as he looked over the sinkhole on Thursday. 'But it's not going to be cheap.' The sinkhole is the latest in a string of catastrophic incidents with old oil wells in the Permian Basin of West Texas, some plugged and others not. From sinkholes to blowouts to persistent leaks, more than a century of oil drilling in the region has left a daunting array of environmental hazards. These emergencies are in addition to a long backlog of wells to plug around the state. Acknowledging the growing challenge, the Railroad Commission requested an additional $100 million from the Legislature late last year. 'The number and cost of emergency wells has significantly increased over the last five years,' RRC deputy executive director Danny Sorrells wrote to legislators, in a letter first obtained by the Houston Chronicle. 'This matter has been reported to the RRC and referred to our Site Remediation,' said agency spokesperson Bryce Dubee. 'Commission staff are monitoring conditions within and around the sinkhole and considering options for addressing any concerns about groundwater quality.' The Kelton Ranch is a few miles outside McCamey in rural Upton County. McCamey is one of countless Texas towns formed in an oil boom. Wildcatter George McCamey struck oil in 1925 and soon several companies were drilling in the area. The town, named for him, grew quickly. The Rodman-Noel oilfield outside of McCamey, which includes the Kelton Ranch, was discovered in 1953, according to a nearby historical marker. The Kelton family purchased the property in 1963. The Keltons remember a family tradition of walking from the ranch house to drink the well water, which was always of good quality. The family still has cattle on the ranch. They do not own the mineral rights to the oil underground, which were severed from the property rights — a common situation in the state. Upton County is still one of the top oil-producing counties in Texas. But the area around McCamey is no longer a drilling hot spot. The Texas Legislature dubbed the town the 'Wind Energy Capital of Texas' in 2001, and wind turbines dot the nearby bluffs. Records indicate the Radford Grocery well 'caved in' after it was plugged in the 1970s. The Keltons say the sinkhole has grown significantly in the past 18 months. The well casing fell deeper into the hole. They think an underground formation washed out, but they do not know why. The hole in March was notably bigger than in photos from January 2024. 'It's suddenly much larger,' said Bill Kelton. 'And it's suddenly got oil.' The Railroad Commission has a long-standing state program to plug orphan wells, which do not have an active operator and were not plugged by their previous owner. The agency also received significant federal funding to plug orphan wells during the Biden administration. In addition to the Railroad Commission's recent funding request, a Republican-backed bill in the Texas Legislature this session would set a timeline for operators to plug inactive wells. However, wells such as the one on the Kelton Ranch pose an additional challenge. Because they were previously plugged and do not have an active operator, they are not considered orphan wells. The legal responsibility for cleanup when a plugged well fails is the subject of a lawsuit over another property 50 miles north as the crow flies. Antina Ranch landowner Ashley Watt is suing Chevron, saying the failures contaminated her property. Her attorney, Sarah Stogner, has taken to calling these situations across the Permian Basin 'zombie wells' that come back to life long after they are plugged, spewing salty water, oil or hazardous gases. The problem is mounting month by month. The Kelton Ranch is about 40 miles from a pair of blowouts that happened in Crane County in January 2022 and December 2023. Another blowout in October 2024 alarmed the Reeves County town of Toyah. Yet another leaking orphan well was identified last month in nearby Pecos County, on land that rancher Schuyler Wight leases for cattle grazing. The Railroad Commission has responded to several recent well emergencies. Plugging the well that caused the December 2023 blowout cost $2.5 million. The more recent blowout near Toyah was plugged by the pipeline company Kinder Morgan. Meanwhile, earthquakes linked to wastewater injection wells continue to rock the area. The Railroad Commission has restricted deep injection to reduce seismicity in the area. Southern Methodist University geophysicist Zhong Lu has published papers on the Permian Basin's sinkholes, earthquakes and subsidence — the gradual sinking of the ground. His research indicates that the combination of intensive oil and gas drilling and the limestone and salt formations of the Permian Basin have made the surface unstable. Landowners like the Keltons are seeking answers as the pockmarked surface of the Permian Basin sinks, shakes and crumbles. Disclosure: Southern Methodist University has been a financial supporter of The Texas Tribune, a nonprofit, nonpartisan news organization that is funded in part by donations from members, foundations and corporate sponsors. Financial supporters play no role in the Tribune's journalism. Find a complete list of them here. We can't wait to welcome you to the 15th annual Texas Tribune Festival, Texas' breakout ideas and politics event happening Nov. 13–15 in downtown Austin. Step inside the conversations shaping the future of education, the economy, health care, energy, technology, public safety, culture, the arts and so much more. Hear from our CEO, Sonal Shah, on TribFest 2025. TribFest 2025 is presented by JPMorganChase.
