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Stock Market & Financial Investment News

News Breaks
December 18, 2012
08:32 EDTCOPConocoPhillips to sell Algerian business for $1.75B
ConocoPhillips announced it has entered into an agreement to sell its Algerian business unit for a total of $1.75B plus customary adjustments. The proposed sale is subject to co-venturer preemption rights and Algerian government approval. ConocoPhillips has entered into an agreement with Pertamina to sell its wholly-owned subsidiary, ConocoPhillips Algeria Ltd., which holds interests in three major onshore oil fields located either fully or partially in Block 405a, Menzel Lejmat North, Ourhoud and EMK. ConocoPhillips' 2012 net production from these fields averaged 11 thousand barrels of oil equivalent per day through October, and at Oct. 31, 2012, the net carrying value of ConocoPhillips' Algerian assets was approximately $850M. The transaction is anticipated to close by mid-2013. Through Sept. 30, 2012, the company's 2012-13 asset disposition program has yielded proceeds of $2.1B, Including this transaction, the company has announced additional asset sales that are expected to generate proceeds of approximately $7B when complete. Funds generated from these transactions are intended to be used for general corporate purposes.
News For COP From The Last 14 Days
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July 30, 2015
13:57 EDTCOPConocoPhillips sees $400M charge in Q3 to terminate drillship contract
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07:15 EDTCOPConocoPhillips says on track for higher end of its 2015 production target
The company is on track to achieve the higher end of its 2015 production target of 2%-3% growth compared with 2014 production from continuing operations, excluding Libya. Q3 production, excluding Libya, is expected to be 1,510 to 1,550 MBOED, which reflects planned turnaround activity during the quarter.
07:15 EDTCOPConocoPhillips lowers FY15 capex view to $11B from $11.5B
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07:13 EDTCOPConocoPhillips reports Q2 EPS ex-items 7c, consensus 4c
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July 29, 2015
15:08 EDTCOPNotable companies reporting before tomorrow's open
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13:04 EDTCOPSaudi Arabia to lower oil production after summer, WSJ reports
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July 27, 2015
05:52 EDTCOPStocks with implied volatility movement; COX COP
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July 26, 2015
18:42 EDTCOPConocoPhillips plans 'thousands' of additional layoffs, WSJ says
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July 22, 2015
06:39 EDTCOPEuro, U.S. oil and gas groups to find tough competition in Iran, WSJ says
European and U.S. oil and gas firms drawn to Iran as sanctions lessen can expect not only opportunities, but also Iranian companies offering tough competition or joint ventures, the Wall Street Journal reports. Though no Iran-based companies have the clout of firms such as Exxon Mobil (XOM) or Schlumberger (SLB), companies that can take on engineering tasks are emerging and growing in Iran, the report says. If the Iran nuclear agreement comes into effect and sanctions are lifted against Iran sometime soon, those Iranian companies will be well positioned to compete for tens of billions of dollars worth of service contracts, the report adds. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
July 16, 2015
19:07 EDTCOPConocoPhillips provides notice of termination for ENSCO DS-9 drillship contract
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16:22 EDTCOPConocoPhillips terminates contract for Ensco DS-9 drill ship, expects Q3 charge
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16:19 EDTCOPConocoPhillips to reduce deepwater exploration spending, sees Q3 charge
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16:16 EDTCOPConocoPhillips raises quarterly dividend 1c to 74c per share
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05:48 EDTCOPStocks with implied volatility above IV index mean; YY COP
Stocks with implied volatility above IV index mean; YY Inc. (YY) 47, ConocoPhillips (COP) 24 according to iVolatility.

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