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Stock Market & Financial Investment News

News Breaks
December 5, 2012
07:03 EDTTOT, CIECobalt announces significant North Platte deepwater Gulf of Mexico discovery
Cobalt International Energy (CIE) announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. The discovery well encountered several hundred feet of net oil pay in multiple Inboard Lower Tertiary sands. North Platte is located in approximately 4,400 feet of water and was drilled to a total depth of approximately 34,500 feet. Cobalt is the operator of North Platte and has a 60% working interest in the prospect. Total (TOT) E&P USA is Cobaltís partner in the discovery, with a 40% working interest.
News For CIE;TOT From The Last 14 Days
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January 28, 2015
09:02 EDTCIECobalt announces termination of SEC investigation
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January 27, 2015
13:08 EDTTOTUBS says oil price recovery may take five years, WSJ reports
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12:08 EDTTOTObama to propose opening up Atlantic to offshore drilling, NYT reports
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10:00 EDTCIEOn the Fly: Analyst Downgrade Summary
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06:51 EDTTOTU.S. to propose lifting oil drilling ban off Atlantic coast, NY Times says
The Obama administration will announce later today that it will propose allowing companies to drill for oil and gas off the Atlantic coast from Virginia to Georgia, according to The New York Times, which cited an unnamed source. However, the administration will also ban drilling in some regions of Alaska, the newspaper added. Publicly traded oil companies include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
January 26, 2015
18:57 EDTTOTDeath of Saudi royal unlikely to alter oil policy or price, WSJ reports
With the passing of King Abduallah in Saudi Arabia, and his successor, King Salman saying that the Kingdom's oil policy will continue as is, it is unlikely for the price of oil to rebound in the near term, contrary to what Secretary Abdalla El Badri said recently, the Wall Street Journal reports. Carl Larry, an analyst with research consultancy Oil Outlooks & Opinions, was quoted saying "people are starting to take anything coming out of OPEC with a big grain of salt,". 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
16:26 EDTCIEMarathon Oil, Cobalt, RSP Permian downgraded at UBS
UBS lowered its Brent and WTI forecasts to $52.50 and $49 from $67.50 and $62.50, respectively, and downgraded a number of names in the energy space in conjunction. Along with making changes to its oil price forecasts, UBS downgraded Marathon Oil (MRO), Cobalt (CIE) and RSP Permian (RSPP), all to Neutral from Buy. The firm also identified ConocoPhillips (COP), Devon Energy (DVN), Murphy Oil (MUR), Ultra Petroleum (UPL), Range Resources (RRC), Denbury Resources (DNR), and Magnum Hunter (MHR) as having high valuations, slowing growth and wide free cash flow deficits and said it was cautious on all of those names as well.
16:21 EDTCIECobalt downgraded to Neutral from Buy at UBS
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13:16 EDTTOTOPEC chief says oil prices could rebound soon, Financial Times reports
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06:40 EDTTOTOil drops after new Saudi king retains oil minister, Reuters reports
Oil prices dropped today after Saudi Arabia's new king, Salman, reappointed the country's longtime oil minister, Ali al-Naimi, according to Reuters. 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
January 23, 2015
09:41 EDTTOTPrince Alwaleed says oil price will never reach $100 again
Saudi Prince Alwaleed is speaking on CNBC. Large oil names include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
08:04 EDTTOTTotal and SunPower complete 70MW Salvador project
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07:20 EDTTOTBass says 'want to be long oil companies, but don't want to buy them yet'
Oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:34 EDTTOTAnalysts: King's death unlikely to change Saudi oil strategy, NY Times says
The death of Saudi Arabia's King Abdullah earlier today probably will not result in a change in the country's strategy as far as oil production is concerned, analysts said, according to The New York Times. 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
January 21, 2015
13:43 EDTTOTOPEC El-Badri says oil will bounce back, not drop to $20, Bloomberg reports
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08:28 EDTTOTInterOil Inpex shares undervalued, says Bernstein
Bernstein believes that InterOil (IOC) looks attractive, given Total's (TOT) intention to launch its Antelope LNG project in Paupa New guinea in 2017. The firm says that Inpex (IPXHY) is well-funded and could benefit from cheaper service costs as the LNG project cycle reaches a peak.
06:42 EDTTOTTotal to cut spending on North Sea, U.S. shale projects, Reuters says
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January 20, 2015
13:21 EDTTOTTotal to cut capital spending by 10% amid oil drop, FT reports
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January 19, 2015
06:47 EDTTOTJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
14:22 EDTTOTSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
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