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March 20, 2013
08:37 EDTAPC, CIE, MRO, COPAnadarko, 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.
News For APC;CIE;MRO;COP From The Last 14 Days
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July 29, 2014
16:32 EDTAPCAnadarko reports Q2 EPS 45c with items, consensus $1.30
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15:57 EDTAPCAnadarko up 1.8% after increasing FY14 sales volume outlook
15:56 EDTAPCAnadarko raises FY14 sales volume view to 299-302 MMBOE
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15:56 EDTAPCAnadarko reports Q2 sales volume 77 MMBOE
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15:53 EDTAPCNotable companies reporting after market close
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08:19 EDTCOPConocoPhillips management to meet with Oppenheimer
Meeting to be held in Texas on August 5 hosted by Oppenheimer.
July 28, 2014
07:37 EDTAPCAnadarko price target raised to $134 from $122 at Credit Suisse
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July 21, 2014
08:16 EDTAPC, COPFMC Technologies signs agreement to develop susbsea equipment and systems
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July 18, 2014
12:36 EDTAPCPlug Power said to be on list of companies probed by SEC, Probes Reporter says
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10:03 EDTAPCOn The Fly: Analyst Downgrade Summary
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06:01 EDTAPCAnadarko downgraded to Market Perform from Outperform at Bernstein
Bernstein downgraded Anadarko to Market Perform citing valuation and expectations for lower crude prices throughout the year. The firm keeps a $107 price target for shares.
July 17, 2014
07:42 EDTCOPThe Federal Energy Regulatory Commission (FERC) to hold a meeting
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July 16, 2014
12:06 EDTCOPConocoPhillips volatility flat into Q2 and outlook
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