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Stock Market & Financial Investment News

News Breaks
February 28, 2013
07:08 EDTCAM, CHK, FTI, APC, APAU.S. shale-rock natural gas boom to grow for decades, WSJ reports
U.S. natural gas production will accelerate over the next three decades, new research indicates, providing the strongest evidence yet that the energy boom remaking America will last for a generation, reports the Wall Street Journal.Reference Link
News For CHK;APA;FTI;CAM;APC From The Last 14 Days
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July 7, 2015
10:00 EDTCAM, APCOn The Fly: Analyst Upgrade Summary
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08:22 EDTCAMCameron upgraded to Outperform from Sector Perform at Scotia Howard Weil
Scotia Howard Weil upgraded Cameron to Outperform and said its robust backlog provides earnings visibility this year and views valuation as attractive.
05:25 EDTAPCAnadarko upgraded to Buy from Hold at Jefferies
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05:11 EDTCAMOneSubsea awarded FEED contract for Browse FLNG Development
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July 6, 2015
16:18 EDTAPCLegacy Reserves announces $440M acquisition of assets in East Teaxas
Legacy Reserves (LGCY) announced it has entered into separate agreements with affiliates of Anadarko Petroleum (APC) and Western Gas Partners (WES) to purchase natural gas properties and gathering and processing assets in East Texas for a combined $440M. These properties represent Legacy's entry into a new basin in East Texas and into meaningful gathering and processing operations supporting the natural gas properties. The closings of these transactions are expected to occur in the third quarter, and the purchase prices remain subject to customary adjustments. Legacy anticipates funding these transactions with borrowings under its revolver. Highlights of this acquisition are as follows: Estimated proved reserves of approximately 420 Bcfe of which 100% are natural gas, 95% are classified as proved developed producing, and 95% are operated. Estimated Q3 production of approximately 70 Mmcfe/d, yielding a proved reserves-to-production ratio of 16.4 years. Multi-year development plan centered on recompletions and workovers to further flatten production declines and extend the productive life of the fields Significant additional drilling inventory in a higher gas price environment. 567 miles of high-pressure pipeline and low-pressure gathering lines and a 502 Mmcfe/d processing plant with access to 5 major gas markets. Expected NTM cash flow of approximately $60M.
16:00 EDTCHKOptions Update; July 6, 2015
iPath S&P 500 VIX Short-Term Futures up 50c to 20.47 Option volume leaders: AAPL MU BAC FB CHK PBR ODP BABA INTC F TSLA DHR CVX AAL FCX ABX.
July 2, 2015
11:14 EDTCHKStocks with call strike movement; CHK PBR
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July 1, 2015
18:20 EDTAPCShell 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
11:19 EDTAPCAnadarko July calls active on renewed takeover chatter
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11:04 EDTAPCRumor: Anadarko moves up on renewed takeover chatter
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June 29, 2015
10:14 EDTAPCBP, Anadarko penalty appeals rejected by Supreme Court, Reuters reports
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10:09 EDTCHKOn The Fly: Analyst Upgrade Summary
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09:36 EDTAPCBP, Anadarko appeals on penalties rejected by Supreme Court, Reuters reports
The companies were rejected on appeals to avoid clean water act penalties related to the Deepwater Horizon spill, Reuters said.
06:45 EDTCHKChesapeake upgraded to Buy from Underperform at Sterne Agee CRT
Sterne Agee CRT upgraded Chesapeake (CHK) two notches to Buy from Underperform and increased its price target to $13 from $9. The firm said shares are now oversold and the "short" call is now crowded. Sterne Agee CRT said management is working to mitigate the near-term liquidity drain and is aggressively pursuing alternatives to keep pipeline counter-party Williams Companies (WMB) whole on its contract, which could reset shares higher. The firm said the focus should be on Chesapeake's absolute liquidity and raised estimates to reflect slightly improved NGL fundamentals. Sterne Agee CRT recommends trading oriented accounts cover shorts and go long as any catalyst may drive a short squeeze rally in shares.
June 26, 2015
07:31 EDTCAMOneSubsea awarded contract for supply of subsea trees for Shah Denix Two
OneSubsea, a Cameron (CAM) and Schlumberger (SLB) company, has been awarded a contract totaling more than $60M for the Shah Deniz Two development, operated by BP, offshore Azerbaijan. OneSubsea was awarded the initial contract for subsea trees for Shah Deniz Two in 2013. The scope of the new contract includes the supply of the second of three planned batches of subsea production trees and ancillaries. Deliveries are expected to commence 2016.
June 25, 2015
16:00 EDTCHKOptions Update; June 25, 2015
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15:48 EDTCHKChesapeake options active as share trend lower
Chesapeake July 11 and 12 puts are active on total put volume of 59K contracts (43K puts). July call option implied volatility is at 42, August is at 44; compared to its 52-week range of 23 to 68. Active put volume suggests traders taking positions for large price movement.
11:50 EDTAPCAnadarko, Jera in talks over Mozambique long-term gas import deal, Reuters says
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10:00 EDTCHKOn The Fly: Analyst Downgrade Summary
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05:56 EDTCHKChesapeake downgraded to Sell from Neutral at UBS
UBS analyst William Featherston downgraded Chesapeake Energy (CHK) to Sell after his firm cut its long-term normalized natural gas price forecast to $4.00 from $4.50. Featherston thinks Chesapeake carries "far too much financial leverage" and he views the shares as expensive relative to peers. The analyst cut his price target for the stock to $11 from $16. Shares of the natural gas producer closed yesterday down 22c to $11.56. Featherston coupled the downgrade with an upgrade of Marathon Oil (MRO) to Buy.

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