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Stock Market & Financial Investment News

News Breaks
June 2, 2014
04:55 EDTAREX, AREX, FTI, FTI, CHK, CHK, KOG, KOG, OII, OII, MTDR, MTDR, GDP, GDP, EGY, EGY, BTE, BTE, CXO, CXO, DNR, DNRRBC Capital to hold a conference
Global Energy Conference to be held in New York on June 2-3.
News For DNR;CXO;BTE;EGY;GDP;MTDR;OII;KOG;CHK;FTI;AREX From The Last 14 Days
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December 10, 2014
08:01 EDTGDPCapital One to hold a conference
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06:09 EDTGDPGoodrich Petroleum provides operational update
Goodrich Petroleum reports in the Tuscaloosa Marine Shale, or TMS, the company announced the completion of two additional wells in its Blades area of Tangipahoa Parish, Louisiana. The Verberne 5H-1 well, which was drilled and completed with an approximate lateral length of 6,600 feet and was fracked with 21 stages, has been producing on a restricted choke program and has achieved a peak 24-hour rate to date of 1,375 Boe per day, comprised of 1,335 barrels of oil and 250 Mcf of natural gas per day on a 14/64 inch choke. The Williams 46H-1 well, which was drilled with an approximate lateral length of 6,400 feet and was fracked with 20 stages, is in early flowback and is currently producing approximately 1,000 Boe per day, but has not achieved peak rate. An update on this well will be provided at a later date. The company is in completion phase on its Kent 41H-1 well, which was drilled with an approximate 6,000 foot lateral in 27 days at one of the lowest drilling cost to date. On the company's initial two-well pad, the CMR/Foster Creek 8H-1 has been drilled and the CMR/Foster Creek 8H-2 well is drilling in the lateral. By achieving drill times of 25 – 30 days, as achieved by several industry-wide wells including our most recent Kent 41H-1 well, coupled with the recently modified frac design as utilized on the Verberne 5H-1 and Williams 46H-1 wells, the company believes it can achieve cost savings in excess of $1.5 million for a single well pad prior to any reduction in service costs or savings associated with drilling off of multi-well pads. Substantial cost savings combined with the company's strong 2015 hedge position, and the inherent advantages of the TMS, which include premium LLS pricing, lower average royalty burden and severance tax relief, allow for the continued economic development of the play in 2015.
06:06 EDTGDPGoodrich Petroleum to explore strategic alternatives for Eagle Ford Shale asset
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December 9, 2014
10:23 EDTBTE, OIIOn The Fly: Analyst Downgrade Summary
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10:23 EDTCXOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
09:07 EDTBTEBaytex Energy downgraded to Neutral from Buy at BofA/Merrill
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08:18 EDTCXOConcho Resources upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded Concho Resources (CXO) to Outperform from Neutral as part of a larger revision of its U.S. E&P sector estimates. The firm set a $113 price target on Concho, citing its updated view on how industry dynamics will impact the company. In the same note, the firm also upgraded SM Energy (SM) and downgraded Emerald Oil (EOX).
07:41 EDTGDPGoodrich Petroleum liquidity concerns overblown, says SunTrust
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07:41 EDTCXOConcho Resources upgraded to Outperform from Neutral at Macquarie
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06:10 EDTGDPGoodrich Petroleum implied volatility of 205 at upper end of index mean range
06:01 EDTBTEBaytex Energy downgraded to Market Perform from Outperform at BMO Capital
05:52 EDTBTEBaytex Energy lowers monthly dividend to 10c per share from 24c per share
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05:50 EDTOIIOceaneering downgraded to Hold from Buy at Jefferies
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December 8, 2014
17:54 EDTMTDRMatador expects to produce in excess of 1M barrels of oil in Q4
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17:41 EDTMTDRMatador provides operational update
Matador Resources is pleased to provide the following update of its ongoing operations. As previously announced, Matador plans to host a live conference call for its shareholders on Tuesday, December 9, at 9:00 a.m. CST. The purpose of this call is to provide Matador’s shareholders with an update on the company’s fourth quarter performance to date, answer questions from shareholders, and discuss the company’s outlook for the remainder of 2014 and for 2015 with Joe Foran, Chairman and CEO, and other members of Matador’s senior management team in light of the recent decline in West Texas Intermediate oil prices below $70 per barrel. The company is studying its planned 2015 capital investment program in light of this recent decline in oil prices, but does not plan to provide specific 2015 guidance during this conference call. The company intends to provide specific 2015 guidance at its upcoming Analyst Day scheduled for January 15, 2015 in Dallas, Texas.
10:00 EDTAREXOn The Fly: Analyst Downgrade Summary
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09:34 EDTGDPGoodrich Petroleum downgraded to Market Perform from Outperform at BMO Capital
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08:16 EDTAREXApproach Resources downgraded to Underperform at BMO Capital
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07:40 EDTCXOMany E&P target prices lowered at SunTrust
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07:03 EDTKOGWhiting Petroleum completes acquisition of Kodiak Oil & Gas
Whiting Petroleum Corporation (WLL) announced that it has completed its previously announced acquisition of Kodiak Oil & Gas Corp (KOG). The closing of the transaction follows the issuance of a final order by the Supreme Court of British Columbia approving the Arrangement on December 5, 2014. The all-stock transaction was previously approved by Whiting stockholders and Kodiak securityholders at special meetings held on December 3, 2014. The transaction enhances Whiting’s leading oil-weighted platform and is expected to drive production, reserve growth and operational efficiencies. Based on the closing price of Whiting stock on December 5, 2014, the combined company has a market capitalization of approximately $6.2B. As a result of the completion of the merger, the common stock of Kodiak Oil & Gas Corp. is no longer listed for trading on the New York Stock Exchange. Pursuant to the terms of the Arrangement, each share of common stock of Kodiak Oil & Gas Corp. will be exchanged for 0.177 of a share of Whiting common stock.
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