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News Breaks | | | | March 20, 2013 | | 08:37 EDT |  | COP, APC, MRO, CIE | Anadarko, Cobalt rise following Gulf of Mexico oil discovery
Shares of Anadarko Petroleum (APC), along with those of its partners in a deepwater Gulf of Mexico exploration project, are higher after the companies reported a large oil discovery. Anadarko said its "Shenandoah-2" well encountered more than 1,000 net feet of oil pay, marking "one of Anadarko's largest oil discoveries in the Gulf of Mexico." In its own press release, Cobalt International Energy (CIE) confirmed the Shenandoah-2R appraisal well encountered more than 1,000 net feet of oil pay, compared to the Shenandoah-1 discovery well, drilled in early 2009, which encountered more than 300 net feet of Inboard Lower Tertiary oil pay. Anadarko stated it is the operator of the Shenandoah-2 well, and the previously announced Shenandoah-1 discovery well, with a 30% working interest. Co-owners in Shenandoah include Cobalt with a 20% working interest, ConocoPhillips (COP) with a 30% working interest, Marathon Oil (MRO) with a 10%working interest and Venari Resources with a 10% working interest. In a note to investors this morning, Wells Fargo estimated the new well could increase Anadarko's value by about $4 per share based on the value of two of the company's prior projects. In trading prior to the opening bell, Anadarko shares rose about $2.70, or 3.3%, to $86.00, while Cobalt gained 7.2% to $27.65 and ConocoPhillips advanced 1.4% to $60.12. | |
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News For APC;CIE;MRO;COP From The Last 14 Days Check below for free stories on APC;CIE;MRO;COP the last two weeks. |
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| June 18, 2013 | | 11:21 EDT |  | APC | Anadarko initiated with an Outperform at Iberia
 Subscribe for More Information | | | 10:01 EDT |  | COP | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 09:14 EDT | | COP | ConocoPhillips downgraded to Sector Perform from Outperform at Howard Weil
Subscribe for More Information | | | 07:07 EDT |  | MRO | Marathon Oil estimates raised at Credit Suisse
Subscribe for More Information | | | June 13, 2013 | | 08:41 EDT | | MRO | Marathon Oil Chairman, CEO to retire Dec. 31, Lee Tillman named successor
Subscribe for More Information | | | June 7, 2013 | | 08:52 EDT |  | CIE | Cobalt management to meet with Deutsche Bank
Meeting to be held in Frankfurt on June 7 hosted by Deutsche Bank. | | | June 5, 2013 | | 10:07 EDT |  | COP | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 09:33 EDT | | COP | ConocoPhillips management to meet with Deutsche Bank
Subscribe for More Information | | | 06:32 EDT | | COP | ConocoPhillips upgraded to Overweight from Equal Weight at Barclays
Subscribe for More Information | | | June 4, 2013 | | 08:03 EDT | | APC | FMC Technologies awarded subsea equipment orders for Anadarko's Heidelberg field
FMC Technologies (FTI) announced that it has received orders from Anadarko (APC) for subsea equipment for its Heidelberg field. The Heidelberg field is located in the Green Canyon section of the Gulf of Mexico in 5,310 feet of water. FMC Technologies' scope of supply includes five enhanced horizontal subsea trees, tree mounted controls, two manifolds and other associated tooling and equipment. | | | | 07:51 EDT | | CIE | Credit Suisse to host a conference
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