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Stock Market & Financial Investment News

News Breaks
May 15, 2014
09:08 EDTWLL, RES, FTI, BAS, WFT, HERO, EXXI, AREX, TESO, GDP, CLBIberia 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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December 11, 2014
06:17 EDTWLLWhiting Petroleum volatility elevated as energy prices near five-year low
Whiting Petroleum overall option implied volatility of 72 is above its 26-week average of 37 according to Track Data, suggesting large price movement.
06:12 EDTAREXApproach Resources downgraded to Underperform from Neutral at Sterne Agee
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December 10, 2014
13:59 EDTTESOT. Rowe Price reports 14.2% passive stake in Tesco
09:23 EDTGDPOn The Fly: Pre-market Movers
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08:01 EDTGDP, TESOCapital One to hold a conference
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06:09 EDTGDPGoodrich Petroleum provides operational update
Goodrich Petroleum reports in the Tuscaloosa Marine Shale, or TMS, the company announced the completion of two additional wells in its Blades area of Tangipahoa Parish, Louisiana. The Verberne 5H-1 well, which was drilled and completed with an approximate lateral length of 6,600 feet and was fracked with 21 stages, has been producing on a restricted choke program and has achieved a peak 24-hour rate to date of 1,375 Boe per day, comprised of 1,335 barrels of oil and 250 Mcf of natural gas per day on a 14/64 inch choke. The Williams 46H-1 well, which was drilled with an approximate lateral length of 6,400 feet and was fracked with 20 stages, is in early flowback and is currently producing approximately 1,000 Boe per day, but has not achieved peak rate. An update on this well will be provided at a later date. The company is in completion phase on its Kent 41H-1 well, which was drilled with an approximate 6,000 foot lateral in 27 days at one of the lowest drilling cost to date. On the company's initial two-well pad, the CMR/Foster Creek 8H-1 has been drilled and the CMR/Foster Creek 8H-2 well is drilling in the lateral. By achieving drill times of 25 30 days, as achieved by several industry-wide wells including our most recent Kent 41H-1 well, coupled with the recently modified frac design as utilized on the Verberne 5H-1 and Williams 46H-1 wells, the company believes it can achieve cost savings in excess of $1.5 million for a single well pad prior to any reduction in service costs or savings associated with drilling off of multi-well pads. Substantial cost savings combined with the company's strong 2015 hedge position, and the inherent advantages of the TMS, which include premium LLS pricing, lower average royalty burden and severance tax relief, allow for the continued economic development of the play in 2015.
06:06 EDTGDPGoodrich Petroleum to explore strategic alternatives for Eagle Ford Shale asset
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December 9, 2014
10:23 EDTHEROOn The Fly: Analyst Downgrade Summary
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07:48 EDTHEROHercules Offshore downgraded to Underperform from Neutral at Macquarie
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07:41 EDTGDPGoodrich Petroleum liquidity concerns overblown, says SunTrust
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06:10 EDTGDPGoodrich Petroleum implied volatility of 205 at upper end of index mean range
06:03 EDTBASBasic Energy reports November well servicing rig count unchanged at 421
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December 8, 2014
10:00 EDTAREXOn The Fly: Analyst Downgrade Summary
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09:34 EDTGDPGoodrich Petroleum downgraded to Market Perform from Outperform at BMO Capital
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09:33 EDTEXXIEnergy XXI downgraded to Market Perform from Outperform at BMO Capital
08:16 EDTAREXApproach Resources downgraded to Underperform at BMO Capital
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07:40 EDTWLLMany E&P target prices lowered at SunTrust
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07:03 EDTWLLWhiting Petroleum completes acquisition of Kodiak Oil & Gas
Whiting Petroleum Corporation (WLL) announced that it has completed its previously announced acquisition of Kodiak Oil & Gas Corp (KOG). The closing of the transaction follows the issuance of a final order by the Supreme Court of British Columbia approving the Arrangement on December 5, 2014. The all-stock transaction was previously approved by Whiting stockholders and Kodiak securityholders at special meetings held on December 3, 2014. The transaction enhances Whitings leading oil-weighted platform and is expected to drive production, reserve growth and operational efficiencies. Based on the closing price of Whiting stock on December 5, 2014, the combined company has a market capitalization of approximately $6.2B. As a result of the completion of the merger, the common stock of Kodiak Oil & Gas Corp. is no longer listed for trading on the New York Stock Exchange. Pursuant to the terms of the Arrangement, each share of common stock of Kodiak Oil & Gas Corp. will be exchanged for 0.177 of a share of Whiting common stock.
December 5, 2014
07:43 EDTWFTLondon bankers see oil slump spurring energy industry consolidation, WSJ reports
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December 4, 2014
06:40 EDTWFTWeatherford price targtet lowered to $20 on updated guidance at Credit Suisse
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