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Stock Market & Financial Investment News

News Breaks
July 6, 2014
15:10 EDTAPAApache looks for buyer of its stake in Wheatstone, Bloomberg says
Apache is said to be in early talks to sell its interest in the $27B liquefied natural gas Wheatstone project located in Western Australia, says Bloomberg. Apache is looking to reduce its debt by cutting CapEx and selling assets and has already announced divestitures of its Argentinian operations, deep-water assets in the Gulf of Mexico and a stake in its Egypt business, added Bloomberg. Reference Link
News For APA From The Last 14 Days
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February 2, 2016
15:16 EDTAPAS&P takes rating actions on U.S. investment-grade E&P companies
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January 29, 2016
07:36 EDTAPAAnalysts still predicting mergers as oil slump drags on, WSJ reports
Bankers and analysts have been predicting a wave of merger activity will come almost since crude prices began to fall from over $100 a barrel, but the only big acquisition by an oil major so far has been Shell's (RDS.A) purchase of BG Group (BRGYY), said The Wall Street Journal, which added that analysts still believe deal-making is likely to return this year if prices continue to languish. With Chevron (CVX) set to report today and its big peers soon to follow, analysts are expecting the four biggest publicly traded Western oil companies to have their weakest combined profits since 1998, the Journal noted. The report noted that U.S. shale oil producers, such as Apache (APA) and Whiting Petroleum (WLL), were previously targeted though potential sellers were reluctant to accept offers as they hoped for a rebound in oil prices and potential buyers wondered if any deal struck would look expensive if crude prices fell further, but "both impediments are gone now," the Journal contends. Reference Link

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