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News Breaks
June 12, 2014
07:52 EDTNBL, CNXCONSOL and Noble Energy to form a midstream master limited partnership
CONSOL Energy (CNX) and its Marcellus Shale joint venture partner, Noble Energy (NBL), intend to form a master limited partnership to provide midstream gathering services for production from their jointly owned acreage in the Marcellus Shale. CONSOL Energy and Noble Energy have caused a draft registration statement on Form S-1 to be confidentially submitted to the SEC for an initial public offering of common units of the MLP. The offering is expected to be completed late in Q3 or early in Q4. Following the closing of the initial public offering, CONSOL Energy and Noble Energy will control the general partner of the MLP, which will own the incentive distribution rights, and will collectively own a majority of the limited partner interests of the MLP.
News For CNX;NBL From The Last 14 Days
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January 30, 2015
16:36 EDTNBLMagellan Midstream extends open season to February 27 for Saddlehorn Pipeline
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08:00 EDTNBLDelek expected to oppose gas sale, Noble to oppose split marketing, Globes says
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06:58 EDTCNXCONSOL expects to invest $1B in E&P Division during FY15
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06:55 EDTCNXCONSOL reports Q4 Coal Division production 8M tons
During Q4, CONSOL's Coal Division produced 8.0M tons, which was in-line with previous quarter's guidance, despite a roof fall on a longwall at Bailey Mine and continued geological conditions at Enlow Fork, which ultimately resulted in 10 days of reduced production. The Bailey Mine produced 2.7M tons in Q4, compared to 2.8M tons produced in the year-earlier quarter. The Enlow Fork Mine produced 2.6M tons in Q4, which is flat when compared to the year-earlier quarter. Despite difficult geological conditions, Enlow Fork managed to record total unit costs of $38.25 per ton, which is the lowest unit cost across the Coal Division. Enlow Fork's 2014 annual production was 10.6M tons. The Harvey Mine produced 1.1M tons in Q4. The Harvey Mine started longwall operations in late March of 2014, and CONSOL expects normal levels of longwall production moving forward. The Buchanan Mine continued to operate on a reduced schedule of two shifts per day and produced 1M tons during Q4, compared to 1.2M tons produced in the year-earlier quarter. The reduced schedule allowed the mine to optimize its cost structure for decreased levels of production, which is reflected in much lower all-in unit costs during Q4 of $53.96 per ton, compared to $66.60 per ton in the year-earlier quarter. The Buchanan Mine is able to quickly ramp up to the full production capacity rate of 5.0M tons per year when market conditions warrant. During the quarter, and in conjunction with the reduced operating schedule, CONSOL has continued maintenance work on the production shaft, which is on-track for completion by late 2015, or early 2016.
06:52 EDTCNXCONSOL sees FY15 gas production 300-310 Bcfe
CONSOL FY15 gas production is expected to be between 300-310 Bcfe, or 30% growth compared to 2014 total production. CONSOL Energy continues to expect 2016 annual gas production to grow by 30%.
06:52 EDTCNXCONSOL sees Q1 gas production 70-74 Bcfe
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06:49 EDTCNXCONSOL reports Q4 reports Q4 E&P Division production 70.5 Bcfe
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06:47 EDTCNXCONSOL reports Q4 adjusted EPS 25c, consensus 20c
Reports Q4 revenue $935.67M, consensus $958.71M.
January 29, 2015
15:37 EDTCNXNotable companies reporting before tomorrow's open
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10:05 EDTCNXOn The Fly: Analyst Initiation Summary
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07:21 EDTCNXCONSOL initiated with a Neutral at Macquarie
Target $31.50.
January 28, 2015
17:07 EDTCNXCONSOL initiated with a Neutral at Macquarie
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January 23, 2015
10:02 EDTNBLOn the Fly: Analyst Downgrade Summary
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07:03 EDTNBLNoble Energy downgraded to Neutral from Outperform at Credit Suisse
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January 20, 2015
07:43 EDTNBLNoble Energy reports no commercial hydrocarbons in Madison exploration well
Noble Energy announced that the Madison exploration well in the Gulf of Mexico reached the targeted Upper and Middle Miocene objectives and did not encounter commercial hydrocarbons. Drilled to a total depth of 16,859 feet on Mississippi Canyon 479, the well has been plugged and abandoned and the drilling rig has been released. Noble Energy operated the well with a 60% working interest and Stone Energy Offshore, had the remaining 40%.

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