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Stock Market & Financial Investment News

News Breaks
May 14, 2014
07:18 EDTPSX, NS, ETP, WFT, PAA, LNG, EPD, TRP, NSH, KMI, CNQMitsubishi UFJ to hold a conference
Oil & Gas Conference to be held in New York on May 14.
News For CNQ;EPD;ETP;KMI;LNG;NS;NSH;PAA;PSX;TRP;WFT From The Last 14 Days
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December 18, 2014
09:03 EDTPSXPhillips 66 upgraded to Buy from Hold at Deutsche Bank
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05:17 EDTPAAPlains All American announces normal course issuer bid
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December 17, 2014
12:51 EDTWFTNY state to ban fracking next year, CNBC reports
Publicly traded companies in the oil services space include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT).
07:19 EDTPSXIndependent Refiners sector cut to Market Weight at Wells Fargo
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December 16, 2014
12:26 EDTCNQOn The Fly: Midday Wrap
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10:57 EDTCNQCanadian energy stocks rise after Talisman acquired by Repsol
Shares of Canadian energy companies are higher this morning after Repsol (REPYY) announced plans to buy Talisman Energy (TLM) for $8 per share in cash. WHAT'S NEW: Canada-based Talisman announced that it has agreed to be acquired by Spain's Repsol in a transaction valued at approximately $13B, including debt. Under the terms of the agreement, Repsol will buy all outstanding common shares of Talisman for $8 per share in cash. Also under the deal, Talisman will pay aggregate cash dividends of 18c per common share prior to closing. The Talisman board is recommending shareholders accept the deal at a special meeting to be held in mid-February 2015. The transaction is expected to close in the second quarter of 2015, Talisman said. Talisman Chairman Chuck Williamson noted that the deal will create "significant and immediate value" for the company's investors. WHAT'S NOTABLE: Repsol first explored a bid for Talisman in July, but talks slowed in late August. Earlier this month, Bloomberg reported the companies revived talks and The Wall Street Journal said "talks moved quickly" from there. Canada Pension Plan Investment Board, which initially considered buying parts of Talisman, was also weighing a bid for the whole company, according to Bloomberg, citing people with knowledge of the matter. ANALYST REACTION: Talisman Energy was downgraded this morning to Market Perform from Outperform at Bernstein. PRICE ACTION: Talisman Energy is up $2.43, or 47.5%, to $7.55 in morning trading and Repsol shares trading in New York are down 1.5% to $19.15. OTHERS TO WATCH: Other Canadian energy companies traded in New York include Encana (ECA), Suncor (SU), Canadian Natural Resource (CNQ) and Imperial Oil (IMO). Of note, Encana this morning announced a 2015 capital program of $2.7B-$2.9B, with about 80% directed to the Montney, Duvernay, Eagle Ford and Permian, its highest margin growth plays. The company expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. In morning trading, Encana shares rose 9.2% to $12.69, Suncor gained 5.3% to $28.33, Canadian Natural Resource added 4.8% to $28.62 and Imperial Oil advanced 2.5% to $40.88.
December 15, 2014
12:36 EDTEPDEnterprise Products begins open season for expansion of Panola NGL pipeline
Enterprise Products announced the start of a binding open season to seek shipper support for a proposed expansion of the portion of its Panola Pipeline Company natural gas liquids system between Carthage, Texas and Mont Belvieu, Texas. The project is designed to support Haynesville and Cotton Valley oil and gas producers by providing enhanced access to the world’s largest NGL fractionation complex, located in Mont Belvieu. Originating near Carthage in Panola County, the NGL pipeline system extends 181 miles, serving multiple destination points at Mont Belvieu, including facilities owned and operated by Enterprise. Depending on shipper response to the open season, the Panola expansion project would be designed to accommodate approximately 50,000 barrels per day of incremental capacity. Achieving the additional capacity would involve installing additional pipe, pumps and related equipment. The additional capacity is expected to be available in the first quarter of 2016. The open commitment period begins today at noon CST and will close on Friday, January 16, 2015 at 5 p.m. CST.
10:00 EDTPSXOn The Fly: Analyst Upgrade Summary
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06:59 EDTPSXPhillips 66 upgraded to Buy from Neutral at BofA/Merrill
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December 12, 2014
15:02 EDTEPDEnterprise Products says will not develop proposed Bakken-to-Cushing pipeline
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11:43 EDTLNGCheniere engages 18 arrangers for debt financing for Corpus Christi project
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11:36 EDTLNGCheniere Energy trading halted, pending news
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December 10, 2014
16:16 EDTLNG, KMIKinder Morgan, Cheniere Energy announces long-term agreements
Kinder Morgan (KMI) announced that Kinder Morgan Texas Pipeline, Kinder Morgan Tejas Pipeline and Tennessee Gas Pipeline Company, or TGP, have entered into 15-year firm transportation agreements and a multi-year storage agreement with Cheniere Energy (LNG) through its subsidiary, Corpus Christi Liquefaction. Under the agreements, KMI will provide 550,000 dekatherms per day of firm natural gas transportation service, as well as 3B cubic feet, or Bcf, of natural gas storage capacity to serve the LNG export facility being developed near Corpus Christi. The project is being designed and permitted for up to three trains, with aggregate design production capacity of approximately 13.5M tonnes per annum, or mtpa, of LNG. The natural gas transportation service can be increased to 800,000 Dth/d upon the completion of certain conditions in the Kinder Morgan Texas Pipeline agreement. KMI will expand its existing Texas intrastate pipeline system in South Texas to provide 250,000 Dth/d of firm transportation and 100 percent of the storage services, and expand its TGP Pipeline to provide 300,000 Dth/d of firm transportation from various Zone 1 receipt points near its Station 87 Pool located in Portland, Tennessee. The construction of the facilities necessary to support these services will be coordinated with the startup of the LNG export facility, which is expected in 2018/2019. KMI expects to invest approximately $187M for this project.
16:00 EDTLNGOptions Update; December 10, 2014
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09:02 EDTKMIKinder Morgan COO Steven Kean to be next CEO, Bloomberg reports
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07:45 EDTKMIWells Fargo to hold a symposium
2014 Wells Fargo Energy Symposium is being held in New York on December 9-10; with webcasted company presentations to begin on December 10 at 8 am; not all company presentations may be webcasted. Webcast Link
December 9, 2014
06:05 EDTLNGStocks with implied volatility movement; LNG OXY
Stocks with implied volatility movement; Cheniere Energy (LNG) 59, Occidental Petroleum (OXY) 33 according to iVolatility.
December 8, 2014
10:01 EDTKMIKinder Morgan and SK E&S LNG announce transportation agreement
Kinder Morgan announced that its Texas Intrastate Pipelines group has entered into a 20-year firm transportation services agreement with SK E&S LNG, a subsidiary of SK E&S Co. LTD. Under the agreement, KMI will invest more than $150M to provide more than 320,000 dekatherms per day of firm natural gas transportation services to support SK LNG’s Train III liquefied natural gas export capacity at Quintana Island, Texas. This Train is part of Freeport LNG Development’s Freeport LNG export facility which in total will liquefy up to 13.2 million tonnes per annum once fully operational. KMI will construct and operate approximately 40 miles of pipeline extending from its existing Kinder Morgan Tejas mainline to an interconnection point with Freeport LNG’s existing pipeline located in Stratton Ridge, Texas. KMI will also expand and construct additional compression on its existing Kinder Morgan Texas and Kinder Morgan Tejas pipeline systems to provide these services upon the startup of Train III, which is expected to occur in the third quarter of 2019. This transportation services agreement provides for the required expansion of the KMI intrastate system by over 1 billion cubic feet per day and will provide additional capacity to the Freeport and Chocolate Bayou areas. The agreements are subject to certain conditions, as well as making a final investment decision to construct the Freeport LNG Train III Liquefaction Project.
10:00 EDTCNQOn The Fly: Analyst Downgrade Summary
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06:13 EDTCNQCanadian Natural downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Canadian Natural Resources to Neutral saying the company is likely to cut its capital spending amid lower oil prices. Citi lowered its price target for shares to $36 from $50.
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