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Stock Market & Financial Investment News

News Breaks
January 15, 2013
07:31 EDTDNR, COPConocoPhillips to sell Cedar Creek Anticline properties for $1.05B
ConocoPhillips (COP) has entered into an agreement to sell its properties in the Cedar Creek Anticline for a total of $1.05B before customary adjustments. ConocoPhillips has entered into an agreement with Denbury Resources Inc.’s (DNR) principal operating subsidiary to sell ConocoPhillips’ properties in the Cedar Creek Anticline, comprising approximately 86,000 net acres in southwestern North Dakota and eastern Montana. ConocoPhillips’ 2012 net production from these properties averaged 13 thousand barrels of oil equivalent per day through November. The sale does not include any of ConocoPhillips’ assets in the Bakken Formation, where ConocoPhillips owns 626,000 net acres, consisting of 207,000 net lease acres and 419,000 net mineral acres. The proposed sale of these assets is part of ConocoPhillips’ plan to increase value for shareholders through portfolio optimization, focused capital investments that deliver growth in production and cash margins, improved returns on capital, and sector-leading shareholder distributions.
News For COP;DNR From The Last 14 Days
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March 4, 2015
06:44 EDTCOPSaudi Arabia raises official oil prices, Reuters reports
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March 3, 2015
09:15 EDTCOPU.S. Chamber of Commerce to hold a discussion on U.S. energy outlook
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March 1, 2015
18:12 EDTCOPIraq's oil minister sees barrel of crude selling at around $65, Reuters says
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February 26, 2015
08:10 EDTDNREvolution Petroleum and Denbury Resources sign reversal of suspended revenue
Evolution Petroleum (EPM) and Denbury (DNR) executed an agreement under which Denbury will reverse the previously disclosed suspension of 2.89% of Evolution's overriding royalty interest revenues and will release to Evolution amounts previously suspended totaling approximately $712K Denbury further agreed not to suspend any future revenues attributable to any of Evolution's revenue interests, except under limited circumstances, and will limit any cash calls to amounts needed to fund near term capital expenditures. This agreement does not settle any of the outstanding litigation matters with Denbury, including their counterclaim related to the net revenue interest conveyed in the 2006 Purchase and Sale Agreement. The litigation is continuing and currently scheduled for trial in July 2015.
February 25, 2015
13:56 EDTCOPSaudi Arabia aims to become second-largest refined oil exporter, WSJ says
Saudi Arabia's oil minister Ali al-Naimi said Wednesday it plans to become the world's second-largest refined oil product exporter by 2017, reports the Wall Street Journal, citing statements given at a conference. Two new refineries in Saudi Arabia will add 800,000 BPD this year, and a planned 2017 refinery in Jazan will bring the kingdom's total capacity to over 3M BPD. 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
06:45 EDTCOPSaudi minister says demand for oil rising, Reuters reports
The price for Brent oil was little changed around $59 per barrel early this morning after Saudi Arbaia's energy minister said that demand for petroleum was increasing, according to Reuters. The minister added that oil markets "are calm now, Reuters added. 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
February 23, 2015
13:45 EDTCOPOpec may call emergency meeting if crude continues slide, FT says
According to Diezani Alison-Madueke, Nigeria's oil minister, Opec members have discussed holding an emergency meeting if crude prices continue to tumble, says the Financial 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).
February 22, 2015
11:59 EDTCOPUSW to expand ULP oil strike
The United Steelworkers, USW, announced that it will expand its unfair labor practice strike, ULP, by launching a work stoppage tonight at midnight at the Motiva Enterprises refinery in Port Arthur, Texas. This refinery, a 50-50 joint venture between Shell Oil Company and Saudi Refining, produces more than 600,000 barrels per day. In addition, 24 hour strike notices were delivered at Motiva’s two Louisiana refineries in Convent and Norco as well as at the Shell Chemical plant in Norco. Capacity at these facilities is 235,000 and 238,000. These refineries are also jointly operated by Royal Dutch Shell and Saudi Refining, Inc. of Saudi Arabia. “The industry’s refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage,” said USW International President Leo W. Gerard. 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
February 19, 2015
08:49 EDTDNRDenbury Resources reports Q4 adjusted EPS 27c, consensus 23c
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06:58 EDTCOPU.S. oil prices tumble after inventory data released, Reuters says
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February 18, 2015
15:35 EDTDNRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.54... Priceline (PCLN), consensus $10.10... DIRECTV (DTV), consensus $1.40... Noble Energy (NBL), consensus 35c... Host Hotels & Resorts (HST), consensus 39c... Hormel Foods (HRL), consensus 64c... Discovery Communications (DISCA), consensus 41c... SCANA (SCG), consensus 73c... Quanta Services (PWR), consensus 51c... Patterson (PDCO), consensus 59c... Denbury Resources (DNR), consensus 23c... T-Mobile (TMUS), consensus 5c... Linn Energy (LINE), consensus 6c... Linn Co (LNCO), consensus 39c... Bloomin' Brands (BLMN), consensus 27c... Huntington Ingalls (HII), consensus $1.98.

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