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Stock Market & Financial Investment News

News Breaks
March 20, 2013
08:37 EDTCIE, COP, APC, MROAnadarko, 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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April 13, 2015
08:53 EDTMROMarathon Oil upgraded at BofA/Merrill
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07:14 EDTMROMarathon Oil management to meet with UBS
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06:46 EDTMROMarathon Oil upgraded to Buy from Neutral at BofA/Merrill
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April 12, 2015
16:49 EDTCOPIEA says Iran nuke deal to have limited impact on supply for years, Reuters says
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April 9, 2015
17:01 EDTCIERowan Companies abandons well due to drllship incident
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16:36 EDTAPCAnadarko initiated with an Outperform at Imperial Capital
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16:06 EDTCIECobalt abandons North Platte 2 well in Gulf of Mexico
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10:02 EDTAPCStatoil makes oil discovery in Gulf of Mexico
Statoil (STO) announced that it has made an oil discovery in its Miocene Yeti prospect located in the Gulf of Mexico. The Yeti discovery expands the proven sub-salt Miocene play further South and West of Big Foot," said Jez Averty, Statoil's senior vice president, exploration for North America. "We are analyzing data to determine the size of the discovery in order to consider future appraisal options." The Yeti discovery was made in Walker Ridge block 160, which is located approximately 15 km (9 miles) south of the Big Foot field, and 11 km from the Cascade field. All of the blocks making up Yeti were accessed by the current owners in recent years. Yeti was drilled with the Maersk Developer drilling rig, a sixth generation semi-submersible. Statoil reports that its drilling efficiency with Yeti was among the best of any well drilled in Walker Ridge, achieving a drilling performance level of approximately 120 meters per day. The rig has moved on and is currently drilling Statoil's Thorvald prospect in the Mississippi Canyon block 814. Statoil is the operator of Yeti, and its partners are Anadarko (APC) and Samson (SSN).
10:00 EDTMRO, APCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adobe (ADBE) initiated with an Overweight at Stephens... Aimco (AIV) initiated with a Neutral at Janney Capital... Akamai (AKAM) initiated with a Hold at Deutsche Bank... Anadarko (APC) initiated with an Outperform at BMO Capital... Apache (APA) initiated with a Market Perform at BMO Capital... Arista Networks (ANET) initiated with a Neutral at Wedbush... AvalonBay (AVB) initiated with a Neutral at Janney Capital... BioScrip (BIOS) initiated with a Buy at Craig-Hallum... Brinker (EAT) initiated with a Buy at Longbow... Broadcom (BRCM) initiated with a Buy at Ladenburg... Camden Property (CPT) initiated with a Neutral at Janney Capital... Canadian National (CNI) initiated with an Overweight at Atlantic Equities... Canadian Pacific (CP) initiated with an Overweight at Atlantic Equities... Cancer Genetics (CGIX) initiated with a Buy at Janney Capital... Denny's (DENN) initiated with a Buy at Longbow... Equity Residential (EQR) initiated with a Neutral at Janney Capital... Essex Property Trust (ESS) initiated with a Neutral at Janney Capital... Fifth Third (FITB) initiated with a Buy at Evercore ISI... Garrison Capital (GARS) initiated with a Buy at Maxim... GrubHub (GRUB) initiated with a Hold at Wunderlich... Hess Corp. (HES) initiated with a Market Perform at BMO Capital... Home Properties (HME) initiated with a Buy at Janney Capital... Huntington Bancshares (HBAN) initiated with a Buy at Evercore ISI... Intersect ENT (XENT) initiated with a Buy at CRT Capital... Jack in the Box (JACK) initiated with a Neutral at Longbow... KeyCorp (KEY) initiated with a Hold at Evercore ISI... LogMeln (LOGM) initiated with a Neutral at JPMorgan... Marathon Oil (MRO) initiated with a Market Perform at BMO Capital... Marvell (MRVL) initiated with an Outperform at Cowen... Masonite (DOOR) initiated with an Outperform at Macquarie... Mid-America Apartment (MAA) initiated with a Buy at Janney Capital... Natures Sunshine Products (NATR) initiated with an In-Line at Imperial Capital... Nielsen (NLSN) initiated with an Outperform at Telsey Advisory... Plug Power (PLUG) initiated with an Equal Weight at Morgan Stanley... Post Properties (PPS) initiated with a Neutral at Janney Capital... QTS Realty Trust (QTS) initiated with a Buy at Evercore ISI... Rentrak (RENT) initiated with an Outperform at Telsey Advisory... RiceBran (RIBT) initiated with a Buy at Maxim... StarTek (SRT) initiated with a Buy at Lake Street... Tribune Media (TRCO) initiated with an Outperform at Wells Fargo... TrueCar (TRUE) initiated with a Hold at Wunderlich... UDR, Inc. (UDR) initiated with a Neutral at Janney Capital... comScore (SCOR) initiated with a Market Perform at Telsey Advisory.
06:55 EDTMROMarathon Oil added to U.S. Focus List at Credit Suisse
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April 8, 2015
17:30 EDTAPCAnadarko initiated with an Outperform at BMO Capital
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17:30 EDTMROMarathon Oil initiated with a Market Perform at BMO Capital
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10:51 EDTCOPConocoPhillips says expects to reduce operating costs by $1B by year-end 2016
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09:22 EDTCOPConocoPhillips expects to improve 2014-2017 flat price ROCE by 1.5%
Cites higher high-margin liquid and LNG growth and sustained cost reductions. Expects to maintain "A" rating.
09:19 EDTCOPConocoPhillips expects to realize operating cost reductions of $500M in 2015
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09:18 EDTCOPConocoPhillips expects 170 Mboed growth from 2014-2017
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09:14 EDTCOPConocoPhillips cites uncertain price outlook, to reduce cost structure by $1B
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April 7, 2015
06:43 EDTCOPOil retreats on reports of Iran, China talks, Reuters says
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April 6, 2015
06:41 EDTCOPOil up after Saudi Arabia increases prices for Asia, Reuters says
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April 5, 2015
18:12 EDTCOPOil falls after tentative nuclear deal for Iran, Reuters says
After a preliminary pact between Iran and world powers on Tehran's nuclear program the price of Brent oil fell nearly 4% on Thursday, says Reuters. 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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