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Stock Market & Financial Investment News

News Breaks
March 28, 2013
11:21 EDTCOP, DNRDenbury Resources sees Rocky Mountain acquisition adding 7,700 BOE/d in 2013
Denbury Resources (DNR) announced the closing of its acquisition of producing property interests in the Cedar Creek Anticline of Montana and North Dakota from a wholly-owned subsidiary of ConocoPhillips (COP) for cash consideration of $1.05B before purchase price adjustments. Denbury estimates the acquired properties will contribute approximately 7,700 barrels of oil equivalent per day BOE/d to its full-year 2013 average daily production, which reflects estimated average daily production of about 10,200 BOE/d for the remainder of the year. Approximately 99% of this production is estimated to be oil and natural gas liquids. With closing occurring as scheduled, the company's full-year 2013 annual production estimates remain unchanged at 68,700-71,700 BOE/d.
News For DNR;COP 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

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