News Breaks |
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| September 20, 2012 |
| 08:34 EDT |  | DNR, XTO, XOM | Denbury Resources announces Bakken sale and asset exchange
Denbury Resources (DNR) announced that it has entered into an agreement to sell its Bakken assets in North Dakota and Montana to Exxon Mobil (XOM) and its wholly owned subsidiary XTO Energy (XTO). Denbury will receive $1.6B in cash, subject to closing adjustments, and ExxonMobil's operating interests in Webster Field in Texas and Hartzog Draw Field in Wyoming, both of which are ideal candidates for carbon dioxide, or CO2, flooding and close to Denbury's existing or planned CO2 pipelines. In addition, Denbury has agreed in principle to either purchase an interest in the CO2 reserves in ExxonMobil's LaBarge Field in southwestern Wyoming or purchase incremental CO2 from that field, on terms and conditions to be mutually agreed upon by the parties. The purchase of an interest in CO2 reserves would reduce the amount of cash received by Denbury. The transactions are expected to close late in the fourth quarter of 2012 with a July 1, 2012 effective date. Denbury intends to use the cash proceeds from the transaction to pursue the purchase of additional oil fields in the Gulf Coast or Rocky Mountain regions that are suited for CO2 flooding, to fund capital expenditures, and/or to repay outstanding debt under its bank credit facility. Additionally, Denbury plans to resume its stock repurchase program begun in October 2011 under which $195M of the $500M of authorized repurchases have been made. Denbury estimates that its after-tax cash proceeds from the transaction will be approximately $1.1B. |
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News For DNR;XOM;XTO From The Last 14 Days Check below for free stories on DNR;XOM;XTO 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. |
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| 09:25 EDT | | XOM | On The Fly: Pre-market Movers
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| 08:32 EDT |  | XOM | InterOil Corporation volatility low into talks with Exxon over PNG assets
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| 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. |
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| 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 |
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| May 23, 2013 |
| 07:28 EDT |  | DNR | UBS to host a conference
Global Oil & Gas Conference is being held in Austin, Texas on May 20-23 with webcasted company presentations to begin on May 23 at 9:05 am; not all company presentations may be webcasted. Webcast Link |
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| 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 |
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| May 20, 2013 |
| 08:08 EDT | | XOM | 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 |
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| 07:37 EDT | | DNR | Barclays to host a conference
High Yield and Syndicated Loan Conference is being held in Chicago on May 20-22. |
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| 05:40 EDT | | XOM | U.S. oil futures rally as many commodities decline, WSJ reports
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| May 16, 2013 |
| 08:01 EDT | | XOM | FMC Technologies receives subsea equpiment order from ExxonMobil
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| May 15, 2013 |
| 08:38 EDT | | XOM | WTI crude falls for a fith consecutive day, Bloomberg reports
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| 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 |
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| May 14, 2013 |
| 11:39 EDT | | DNR | High option volume stocks: IVZ BGCP SCTY DNR AEGR
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| 07:10 EDT | | XOM | IEA says North American oil will dominate world supply growth, WSJ reports
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| May 13, 2013 |
| 13:07 EDT | | DNR | Denbury Resources September calls active
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| 10:58 EDT | | DNR | High option volume stocks: PRGO OMEX SCTY OPTR DNR
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| 07:23 EDT | | DNR | Susquehanna to host a conference
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