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Stock Market & Financial Investment News

News Breaks
June 5, 2014
07:29 EDTPVA, CPE, GDP, KOG, AXAS, EXXI, UNT, FTK, CAK, WLL, XEC, ESCR, BCEI, PDCEIndependent Petroleum Association of America to hold a conference
IPAA OGIS Toronto to be held in Toronto, Canada on June 5.
News For CAK;KOG;BCEI;FTK;GDP;ESCR;UNT;CPE;XEC;EXXI;PVA;WLL;AXAS;PDCE From The Last 14 Days
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December 12, 2014
06:56 EDTGDPGoodrich Petroleum cut to Underweight on lower oil at JPMorgan
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06:22 EDTGDPGoodrich Petroleum downgraded to Underweight from Overweight at JPMorgan
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December 11, 2014
10:33 EDTWLLOptions with increasing implied volatility
Options with increasing implied volatility: UVXY ORIG WLL CJES ARP GREK NBR VXX SVXY
09:36 EDTWLL, WLLWhiting Petroleum downgraded to Underperform from Outperform at CLSA
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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.
December 10, 2014
09:23 EDTGDPOn The Fly: Pre-market Movers
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08:01 EDTGDPCapital 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
09:21 EDTPDCEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up 3.8%... Burlington Stores (BURL), up 3.3%. ALSO HIGHER: bluebird bio (BLUE), up 56.5% after price target raised at Piper Jaffray and SunTrust... Camtek (CAMT), up 6.7% after being awarded a $2.8M order from a semiconductor manufacturer... PDC Energy (PDCE), up 5.8% after providing fiscal 2015 production guidance... Mast Therapeutics (MSTX), up 3.1% after reporting that it will begin recruiting patients for MST-188 study in first half of fiscal 2015... Idera Pharmaceuticals (IDRA), up 1.4% after announcing data for its lead product candidate, IMO-8400. DOWN AFTER EARNINGS: UTi Worldwide (UTIW), down 10.8%... CONN'S (CONN), down 35.9% after reporting third quarter results, withdrawing fiscal 2015 guidance, stating that there is no timetable set for completion of strategic alternatives, and announcing the departure of its CFO. ALSO LOWER: Apple (AAPL), down 1.6% after Pacific Crest says that weak iPad demand could cause Apple to miss estimates and following a Wall Street Journal report that a judge denied Apple's efforts to throw out iPod pricing lawsuit... Allied Nevada Gold (ANV), down 30.1% after announcing pricing of common stock and warrant offering... United Continental (UAL), down 2.7% after reporting November traffic.
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
December 8, 2014
17:32 EDTPDCEPDC Energy outlines 2015-2016 hedge and financial positioning
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17:30 EDTPDCEPDC Energy sees FY15 CapEx about $557M, FY15 production 13.8M-14.5M Boe
PDC's capital budget for 2015 is approximately $557M, a decrease of 14% compared to its 2014 capital budget. The company's 2015 budget includes $526M of development capital and $31M for lease maintenance, exploration and other expenditures. The 2015 capital budget is focused on organic growth opportunities in PDC's Inner and Middle core areas of the Wattenberg Field. The Company estimates net production volumes for 2015 will be between 13.8M-14.5M barrels of oil equivalent and expects production growth throughout the year. The company anticipates a commodity mix of approximately 45% crude oil, 20% natural gas liquids and 35% natural gas. The commodity mix reflects the company's increased focus on allocating capital towards its highest-value drilling opportunities in both the Inner and Middle core areas of the Wattenberg Field. For 2015, the company projects it will drill approximately 90% of its wells in the Inner and Middle Core areas, up from about 67% in those areas in 2014. PDC estimates its 2014 production exit rate to be approximately 32,500 Boe per day and its full-year 2014 production volumes to be within its guidance range of 9.3 to 9.5 MMoe. The Company's 2015 production exit rate is anticipated to be approximately 46,500 Boe per day
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
07:40 EDTBCEI, AXAS, WLL, PDCEMany E&P target prices lowered at SunTrust
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07:03 EDTKOG, WLLWhiting 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 Whiting’s 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 4, 2014
16:57 EDTBCEIIntegrated Core Strategies reports 6.4% passive stake in Bonanza Creek
10:36 EDTKOGOptions with increasing implied volatility
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