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Stock Market & Financial Investment News

News Breaks
January 2, 2013
14:33 EDTECA, CHK, DVNNatural gas futures lower after warm weather forecast, WSJ says
Natural gas futures for February delivery traded down 3.8% to $3.224 a million British thermal units, after forecasts for warmer weather, says the Wall Street Journal. Reference Link
News For DVN;CHK;ECA From The Last 14 Days
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August 25, 2015
06:03 EDTECAEncana agrees to sell Haynesville assets for $850M
Encana announced that its wholly-owned subsidiary, Encana Oil & Gas, has reached an agreement to sell its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville, a joint venture formed by GeoSouthern Haynesville, LP and funds managed by GSO Capital Partners LP. Total cash consideration to Encana under the transaction is $850M. In addition, through the transfer of current and future obligations, Encana will reduce its gathering and midstream commitments, which will be substantially complete through 2020, by approximately $480M on an undiscounted basis. Further, Encana will transport and market GeoSouthern's Haynesville production on a fee for service basis for the next five years. Encana will use the total cash consideration to reduce its net debt, further strengthening its balance sheet. Consistent with its strategy, Encana remains focused on growing high margin production. Over 80% of 2015 capital will be invested in the company's four most strategic assets in the Permian, Eagle Ford, Duvernay and Montney. During the first half of 2015, Encana's Haynesville assets produced an average 217 mmcf/d, contributed approximately 9% to companywide production and less than 2.5% to Encana's first half operating cash flow, excluding hedges. The sale of Encana's Haynesville assets is subject to satisfaction of normal closing conditions, as well as regulatory approvals and post-closing adjustments, and is expected to close in Q4 with an effective date of January 1.
August 21, 2015
12:22 EDTDVNChanos say still short Exploration & Production space
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07:05 EDTCHKChesapeake reports notice of proposed voluntary dismissal of derivative action
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August 19, 2015
16:00 EDTCHKOptions Update; August 19, 2015
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August 18, 2015
16:00 EDTCHKOptions Update; August 18, 2015
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August 14, 2015
16:44 EDTDVNThird Point gives quarterly update on stakes
NEW STAKES: Baxter (BAX), T-Mobile (TMUS), Sealed Air (SEE), Devon (DVN), and Perrigo (PRGO). INCREASED STAKES: SunEdison (SUNE), Dow Chemical (DOW), Mohawk (MHK), Yum! Brands (YUM), and IAC/InterActiveCorp (IACI). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Sensata (ST), Masco (MAS), and Delta (DAL). LIQUIDATED STAKES: Dollar General (DG), McKesson (MCK), Edgewell Personal Care (EPC), Maxim (MXIM), and FleetCor (FLT).
10:02 EDTDVNOn The Fly: Analyst Downgrade Summary
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09:04 EDTDVNDevon Energy downgraded to Outperform from Focus List at Scotia Howard Weil
07:03 EDTCHKCrude price slide has oil firms turning to private equity, Reuters reports
Another drop in crude oil prices has oil companies returning calls from potential buyers, Reuters reports. Oil firms may start relying on capital markets investors betting on a quick recovery in prices, the report says. "It didn't solve people's problems, so now when you roll to 2016 ...there will be an opportunity for private equity-backed companies with plenty of capital in place to go out and start buying," said Carl Tricolo, managing partner at private equity fund Denham Capital, in the report. Publicly traded companies in the space include Chesapeake Energy (CHK), American Electric Power Company (AEP), and Linn Energy (LINE). Reference Link

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