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Stock Market & Financial Investment News

News Breaks
March 20, 2013
07:46 EDTCIE, MRO, APC, COPAnadarko volatility low into positive results for Shenandoah well in deepwater
Anadarko (APC) overall option implied volatility of 29 is below its 26-week average of 32 according to Track Data, suggests decreasing price movement into announces extraordinary results for Shenandoah well in deepwater. Anadarko, the operator of the well, has a 30% stake, ConocoPhillips (COP) has a 30% interest, Cobalt (CIE) a 20% stake and Marathon Oil (MRO) a 10% stake.
News For APC;CIE;COP;MRO From The Last 14 Days
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March 4, 2015
07:14 EDTMROSimmons to hold a conference
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06:44 EDTCOPSaudi Arabia raises official oil prices, Reuters reports
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March 3, 2015
16:03 EDTAPCWestern Gas Partners acquires Anadarko's 50% inerest in joint venture
Western Gas Partners (WES) announced that it has acquired Anadarko's (APC) 50% interest in the Delaware Basin JV gathering system. The Partnership paid no consideration at closing, but agreed to make a future payment on March 31, 2020 equal to eight times the average of the asset's 2018 and 2019 earnings before interest, taxes, depreciation and amortization, less the capital expenditures incurred by WES from the closing date through February 29, 2020. Based on its current forecast of the asset's performance and capital needs, the Partnership currently estimates the future payment will be $283M. "This immediately accretive acquisition is another step towards the consolidation of our significant Delaware Basin position," said CEO Don Sinclair. "We will benefit from the asset's strategic position, the world-class resources in the Delaware Basin, and the addition of a 100% fee-based asset into our portfolio. Furthermore, the flexible financing structure assists us in maintaining our growth targets in a challenging environment." In conjunction with the acquisition, Anadarko has amended its existing gathering agreement with DBJV to extend the term to December 31, 2024. Gathering rates are determined using a cost-of-service methodology under which DBJV earns a targeted rate of return of 18% over the life of the agreement. The Partnership estimates that the net present value of the purchase price payment is $176M and that the asset will generate $15 to $25M of EBITDA in 2015. The terms of the acquisition were approved by the board of directors of the Partnership's general partner and by the board's special committee, which is comprised entirely of independent directors.
10:44 EDTAPCAnadarko reduces initial FY15 capital expectations by 33% y/y
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09:15 EDTCOPU.S. Chamber of Commerce to hold a discussion on U.S. energy outlook
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08:53 EDTAPCAnadarko sees FY15 oil sales volume up 5%
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March 2, 2015
15:39 EDTAPCAnadarko seeks buyer for East Texas assets, SparkSpread says
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March 1, 2015
18:12 EDTCOPIraq's oil minister sees barrel of crude selling at around $65, Reuters says
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February 27, 2015
10:32 EDTCIEOptions with decreasing implied volatility
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February 26, 2015
16:41 EDTMROMcJunkin Red Man signs supply contract extension with Marathon Oil
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09:25 EDTAPCAnadarko to host conference call
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February 25, 2015
13:56 EDTCOPSaudi Arabia aims to become second-largest refined oil exporter, WSJ says
Saudi Arabia's oil minister Ali al-Naimi said Wednesday it plans to become the world's second-largest refined oil product exporter by 2017, reports the Wall Street Journal, citing statements given at a conference. Two new refineries in Saudi Arabia will add 800,000 BPD this year, and a planned 2017 refinery in Jazan will bring the kingdom's total capacity to over 3M BPD. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:45 EDTCOPSaudi minister says demand for oil rising, Reuters reports
The price for Brent oil was little changed around $59 per barrel early this morning after Saudi Arbaia's energy minister said that demand for petroleum was increasing, according to Reuters. The minister added that oil markets "are calm now, Reuters added. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
February 24, 2015
08:20 EDTAPCEnterprise, Anadarko, DCP, MarkWest form joint venture for Panola
Enterprise Products Partners (EPD), Anadarko Petroleum (APC), DCP Midstream Partners (DPM) and MarkWest Energy Partners (MWE) announced the formation of a joint venture under which Enterprise will assign 45% ownership interest in its wholly owned Panola Pipeline Company. The interest will be evenly divided among Anadarko’s affiliate, WGR Asset Holding Company, DCP Midstream Partners and MarkWest. Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest. The Panola Pipeline, which transports natural gas liquids, originates in Carthage, Texas and extends 181 miles to Mont Belvieu, Texas. Incremental capacity is expected to be available in 1Q16. This corrects the symbol for Enterprise Products Partners.
February 23, 2015
13:45 EDTCOPOpec may call emergency meeting if crude continues slide, FT says
According to Diezani Alison-Madueke, Nigeria's oil minister, Opec members have discussed holding an emergency meeting if crude prices continue to tumble, says the Financial Times. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
07:37 EDTMROCredit Suisse to hold a summit
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07:16 EDTCIECobalt provides operations update, says drilling on schedule in Gulf of Mexico
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07:12 EDTCIECobalt sees FY15 CapEx, operating expenditures roughly flat at $800M-$900M
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07:10 EDTCIECobalt reports Q4 EPS (53c), consensus (25c)
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February 22, 2015
11:59 EDTCOPUSW to expand ULP oil strike
The United Steelworkers, USW, announced that it will expand its unfair labor practice strike, ULP, by launching a work stoppage tonight at midnight at the Motiva Enterprises refinery in Port Arthur, Texas. This refinery, a 50-50 joint venture between Shell Oil Company and Saudi Refining, produces more than 600,000 barrels per day. In addition, 24 hour strike notices were delivered at Motiva’s two Louisiana refineries in Convent and Norco as well as at the Shell Chemical plant in Norco. Capacity at these facilities is 235,000 and 238,000. These refineries are also jointly operated by Royal Dutch Shell and Saudi Refining, Inc. of Saudi Arabia. “The industry’s refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage,” said USW International President Leo W. Gerard. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link

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