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Stock Market & Financial Investment News

News For BTE;CNQ;COP;ERF;IMO;IVAN;KWK;MUR;PWE;SU;TLM From The Last 14 Days
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September 1, 2015
12:34 EDTCOPConocoPhillips to lay off 400 employees in Canada, Globe and Mail says
ConocoPhillips is laying off 400 employees and 100 contractors in Canada, reports the Globe and Mail. Company spokesman Rob Evans said the 400 employees represent about 15% of the company's workforce in Canada. The cuts will take effect in mid-October. Reference Link
09:08 EDTCOPConocoPhillips safely delivers first oil at Surmont 2
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06:12 EDTPWEPenn West sees FY15 production 86K-90K boe/d
The company said, "We have updated our guidance given the impact of the $414 million in asset dispositions to date and the further planned reductions in our capital programs. Our revised 2015 capital budget is $500 million, representing capital expenditures of approximately $245 million in the second half of 2015. Our revised 2015 production guidance range is 86,000 - 90,000 boe/d. Although we continue to view funds flow from operations to be an important metric, we will shift our focus to providing guidance on our controllable costs given the continuing volatility in commodity prices. Consequently, we expect our operating costs for the year to be between $19.25/boe and $19.75/boe, while our G&A is expected to be between $2.80/boe and $3.05/boe."
06:12 EDTPWEPenn West sees further 10% reduction in well drilling, completion, tie-up costs
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06:11 EDTPWEPenn West committed to pursuing additional non-core sales to reduce debt
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06:09 EDTPWEPenn West in compliance with all financial covenants
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06:08 EDTPWEPenn West to reduce total workforce by 35%
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06:07 EDTPWEPenn West to suspend dividend until further notice, reduces board compensation
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06:06 EDTPWEPenn West to limit CapEx to funds flow from operations by end of 2015
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06:05 EDTPWEPenn West announces further actions to commodity price environment
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06:02 EDTPWEPenn West announces dividend suspension, 35% workforce reduction
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August 28, 2015
14:23 EDTCOPConocoPhillips volatility elevated as WTI oil rally's 7% to $45
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August 26, 2015
10:00 EDTCNQOn The Fly: Analyst Downgrade Summary
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09:57 EDTCOPConocoPhillips considering offshore gas project to feed Darwin LNG, AFR reports
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07:30 EDTCNQCanadian Natural downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Canadian Natural to Neutral to reflect the choppy near-term environment. The firm said balance sheet pressures are building in 2016 at a time when the company's hedges are rolling off and production could decline.
August 23, 2015
17:49 EDTCOPIran to increase oil production as BP, Shell express interest, Bloomberg says
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August 21, 2015
10:02 EDTBTEHigh option volume stocks
High option volume stocks: XEO VAR AMCC XPO ROST INTU TFM BTE DXD
August 20, 2015
20:07 EDTBTEBaytex to cut capital spending, suspend dividend in face of low commodity prices
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06:25 EDTCNQ, SUCanadian oil sands companies struggle from drop in crude prices, WSJ says
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06:10 EDTCOPAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. 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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