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News Breaks | | | | February 28, 2013 | | 09:07 EDT |  | CVX, XOM, PBR, STO | Chevron conducts successful well test at Gulf of Mexico's St. Malo field
Chevron (CVX) conducted a successful production test on the St. Malo PS003 well in the prolific Lower Tertiary trend in the deepwater Gulf of Mexico. Oil flow rates, though limited by testing equipment constraints, exceeded 13,000 barrels of oil per day. The Jack and St. Malo fields are located within 25 miles of each other and are being jointly developed with a host floating production unit located between the two fields which is planned to have a design capacity of 177,000 barrels of oil-equivalent per day to accommodate production from the Jack/St. Malo development, which is estimated at a maximum total daily rate of 94,000 barrels of oil-equivalent, plus production from third-party tiebacks. Total project costs for the initial phase of the development are estimated at $7.5B. Chevron has a working interest of 51% in the St. Malo field. Other owners are Petrobras (PBR) (25%), Statoil (STO) (21.5%), ExxonMobil (XOM) (1.25%) and ENI (1.25 percent). | |
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News For CVX;XOM;PBR;STO From The Last 14 Days Check below for free stories on CVX;XOM;PBR;STO the last two weeks. |
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| May 24, 2013 | | 15:13 EDT |  | XOM | InterOil negotiations with Exxon Mobil validates the company, says Westlake
Westlake Securities said InterOil's (IOC) exclusive negotiations with Exxon Mobil (XOM) is a major validation of the company and its Elk/Antelope resource. The analyst raised its price target to $130 from $115 as risk of a deal not being reached has been removed. Shares are Buy rated. | | | 09:25 EDT | | XOM | On The Fly: Pre-market Movers
 Subscribe for More Information | | | 08:32 EDT |  | XOM | InterOil Corporation volatility low into talks with Exxon over PNG assets
Subscribe for More Information | | | 08:12 EDT | | XOM | InterOil confirms exclusive talks with ExxonMobil Papua New Guinea
InterOil (IOC) and its joint venture partner, Pacific LNG Group, said they have entered into exclusive negotiations with ExxonMobil Papua New Guinea, a subsidiary of ExxonMobil (XOM), on the development of Petroleum Retention License 15, which comprises the Elk and Antelope fields in the Gulf Province of Papua New Guinea. The transaction has been discussed with the government of PNG and any future agreement will be subject to their final approval, the company added. Items under consideration include: InterOil and Pacific LNG selling ExxonMobil Papua New Guinea Ltd. an interest in PRL 15 that is sufficient to supply gas to develop an additional LNG train at ExxonMobil Papua New Guinea Ltd.'s Konebada site; InterOil and Pacific LNG will be funded to drill additional delineation wells in the Elk and Antelope fields, which will be followed by recertification of the resource; InterOil and Pacific LNG will have the optionality to either independently develop a second LNG project in the Gulf Province that may also use gas from PRL 15 and potentially other discoveries, such as Triceratops, or pursue further development with ExxonMobil Papua New Guinea Ltd. | | | 06:59 EDT |  | XOM | Exxon Mobil in exclusive talks with Interoil for natural gas assets, WSJ says
Exxon Mobil (XOM) is in exclusive talks with InterOil (IOC) to invest in Interoil's natural gas assets in Papau New Guinea, reports the Wall Street Journal. In a statement confirming the talks, Interoil said it is discussing whether gas from the Elk and Antelope fields would support an expansion of the PNG LNG project or a new gas-export facility. Reference Link | | | May 23, 2013 | | 06:17 EDT | | XOM | Papua New Guinea’s Oil Search a takeover target, Bloomberg reports
Papua New Guinea’s Oil Search (OISHY) has the fastest revenue growth in the oil industry and now may be attracting a number of suitors, from Exxon Mobil (XOM) to Total (TOT) to Woodside Petroleum (WOPEY), reports Bloomberg. Reference Link | | | May 22, 2013 | | 11:46 EDT |  | STO | Statoil upgraded to Equal Weight from Underweight at Morgan Stanley
| | | 09:39 EDT | | STO | Teekay Offshore signs new FSO contract with Statoil
Subscribe for More Information | | | May 20, 2013 | | 08:08 EDT | | XOM, CVX | EU to review fracking concerns, Reuters reports
Environmental concerns over the practice of hydraulic fracturing to get at shale gas will be on the EU's agenda this year, EU Energy Commissioner Guenther Oettinger told the German newspaper Die Welt, reports Reuters. Reference Link | | | 05:40 EDT | | CVX, XOM | U.S. oil futures rally as many commodities decline, WSJ reports
Subscribe for More Information | | | | May 17, 2013 | | 14:34 EDT | | PBR | Petrobras May volatility at low end of historic range
Subscribe for More Information | | | May 16, 2013 | | 08:01 EDT | | XOM | FMC Technologies receives subsea equpiment order from ExxonMobil
Subscribe for More Information | | | 06:03 EDT | | CVX | YPF, Chevron agree to terms of Argentina shale investment, Reuters reports
Subscribe for More Information | | | May 15, 2013 | | 18:31 EDT | | CVX | Ecopetrol submits highest bids for three exploratory blocks in Brazil
Ecopetrol (EC) announces that it submitted the highest bids for three exploratory blocks in the 11th bidding round carried out yesterday by the ANP of Brazil in Rio de Janeiro. Ecopetrol has a 100% interest in the highest bids for the POT-M-567 and FZA-M-320 blocks and a 50% interest in the highest bid for the CE-M-715 block, which it submitted with Chevron (CVX) Brasil Ventures. The three blocks comprise an area of approximately 1,862 sq kilometers in the Potiguar, Foz de Amazonas and Ceara offshore basins. | | | 08:38 EDT | | CVX, XOM | WTI crude falls for a fith consecutive day, Bloomberg reports
Subscribe for More Information | | | 07:20 EDT | | XOM | InterOil in final talks on ‘multi-billion dollar’ LNG deal, Bloomberg reports
InterOil Corp. (IOC), which has plans to develop an LNG project in Papua New Guinea, is in the final stage of talks with major oil producers and a national oil company for a “multi-billion dollar” partnership, reports Bloomberg. Royal Dutch Shell (RDS.A) has said it had discussions with InterOil and was interested in the proposed Papua New Guinea LNG plant. Reference Link | | | 05:55 EDT | | STO | EU inspects firms in oil investigation, WSJ reports
EU antitrust authorities carried out unannounced inspections of energy giants BP (BP), Royal Dutch Shell (RDS.A) and Statoil (STO), escalating an investigation of alleged oil-price manipulation amid scrutiny of how prices are set in global financial markets, reports the Wall Street Journal. EU officials are investigating whether the three companies manipulated prices in the $2.5T physical-oil market by giving false data to an oil index publisher, the Platts unit of McGraw Hill Financial (MHFI). Platts's offices were also inspected.Reference Link | | | May 14, 2013 | | 16:00 EDT | | CVX | Options Update; May 14, 2013
Subscribe for More Information | | | 14:37 EDT | | PBR | Petrobras 'in no hurry' to decide on offer for Argentine unit, Reuters says
Petrobras president Maria das Gracas Foster said Argentine companies have made an offer to buy some of the assets it has put up for sale, but added that Petrobras is in no hurry and has not made a decision, according to Reuters, citing Foster's comments in a Senate economic affairs hearing. Reference Link | | | 07:10 EDT | | CVX, XOM | IEA says North American oil will dominate world supply growth, WSJ reports
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