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Stock Market & Financial Investment News

News Breaks
May 15, 2014
09:08 EDTWFT, HERO, EXXI, AREX, TESO, GDP, CLB, WLL, RES, FTI, BASIberia Capital Partners to hold a conference
Oil & Gas Day to be held in New York on May 15.
News For AREX;BAS;CLB;EXXI;FTI;GDP;HERO;RES;TESO;WFT;WLL From The Last 14 Days
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July 1, 2015
18:20 EDTWLLShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link
07:06 EDTEXXIEnergy XXI announces sale of East Bay Field
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June 30, 2015
13:42 EDTEXXICorEnergy completes GIGS acquisition, board confirms dividend raise
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10:59 EDTEXXICorEnergy could be worth $13 per share, says Wells Fargo
Wells Fargo views CorEnergy's (CORR) recently announced plans to buy the Grand Isle Gathering System from Energy XXI (EXXI) as a net positive, but also a deal that carries risks due to the financial health of the seller. The firm maintains its Outperform rating on CorEnergy and raised its price target range on the stock to $9-$11, but added that it believes the stock could be worth $13 per share if Energy XXI's financial position improves and the visibility of future payments increases.
10:00 EDTRESOn The Fly: Analyst Upgrade Summary
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06:13 EDTRESRPC, Inc. upgraded to Neutral from Sell at Citi
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June 24, 2015
07:19 EDTWFTU.K. panel to decide on first fracking in area since 2011, WSJ reports
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June 23, 2015
09:04 EDTCLBCore Laboratories acquires Sanchez Technologies
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07:34 EDTTESO, WLLGlobal Hunter Securities to hold a conference
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June 22, 2015
19:00 EDTEXXIOn The Fly: After Hours Movers
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16:25 EDTEXXIEnergy XXI monetization of GIGS takes current liquidity to nearly $1B
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16:19 EDTEXXICorEnergy to acquire GIGS from Energy XX for $245M in cash
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16:07 EDTFTIFMC Technologies awarded $297M contract for subsea production systems
FMC Technologies announced that it has received an order from BP Exploration Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297M in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100km south of Baku.
07:05 EDTEXXIEnergy XXI reaches agreement with BOEM on supplemental bonding
Energy XXI announced that after several constructive meetings and exchanges of information, Energy XXI has reached an agreement with the Bureau of Ocean Energy Management, or BOEM, with regard to supplemental bonding requirements for the company and its subsidiaries. Energy XXI has provided $150M of supplemental bonding, bringing the company's total supplemental bonding to $319M at an annual premium expense of $4.8M, with approximately $10M collateral posted. In addition, the company maintains $226M in Letters of Credit to third parties on additional assets in the Gulf of Mexico. The BOEM has agreed to withdraw its orders with regard to supplemental bonding upon dismissal of the appeals filed by Energy XXI with the Interior Board of Land Appeals, and postponed until November 15 the issuance of any further requirements for financial assurance with respect to activities on existing properties of Energy XXI and its subsidiaries. In addition to the consideration provided under the agreement, during the interim period, Energy XXI and its subsidiaries continue to cooperate with and engage in constructive discussions with the BOEM and its sister agency, the Bureau of Safety and Environmental Enforcement, with regard to decommissioning and financial assurance matters.
06:05 EDTGDPGoodrich Petroleum commences completion operations on 2 of 6 wells in TMS
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