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Stock Market & Financial Investment News

News Breaks
April 11, 2011
12:47 EDTNBL, CHK, ACI, ECA, EOG, BTU, APCCornell study says natural gas worse for climate than coal, The Hill reports
A study by Cornell University indicates that natural gas produced through a drilling method called fracking increases global warming as much or more than coal, according to The Hill. Scientists who have received money form natural gas companies dispute the findings, which are slated to be published in a journal called Climatic Change. Reference Link
News For EOG;CHK;APC;ECA;NBL;BTU;ACI From The Last 14 Days
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December 17, 2014
07:20 EDTNBLCapital Link to hold a forum
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December 16, 2014
12:26 EDTECAOn The Fly: Midday Wrap
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12:22 EDTAPCAnadarko, BG Group 'widely seen' as targets amid oil slump, FT says
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10:57 EDTECACanadian energy stocks rise after Talisman acquired by Repsol
Shares of Canadian energy companies are higher this morning after Repsol (REPYY) announced plans to buy Talisman Energy (TLM) for $8 per share in cash. WHAT'S NEW: Canada-based Talisman announced that it has agreed to be acquired by Spain's Repsol in a transaction valued at approximately $13B, including debt. Under the terms of the agreement, Repsol will buy all outstanding common shares of Talisman for $8 per share in cash. Also under the deal, Talisman will pay aggregate cash dividends of 18c per common share prior to closing. The Talisman board is recommending shareholders accept the deal at a special meeting to be held in mid-February 2015. The transaction is expected to close in the second quarter of 2015, Talisman said. Talisman Chairman Chuck Williamson noted that the deal will create "significant and immediate value" for the company's investors. WHAT'S NOTABLE: Repsol first explored a bid for Talisman in July, but talks slowed in late August. Earlier this month, Bloomberg reported the companies revived talks and The Wall Street Journal said "talks moved quickly" from there. Canada Pension Plan Investment Board, which initially considered buying parts of Talisman, was also weighing a bid for the whole company, according to Bloomberg, citing people with knowledge of the matter. ANALYST REACTION: Talisman Energy was downgraded this morning to Market Perform from Outperform at Bernstein. PRICE ACTION: Talisman Energy is up $2.43, or 47.5%, to $7.55 in morning trading and Repsol shares trading in New York are down 1.5% to $19.15. OTHERS TO WATCH: Other Canadian energy companies traded in New York include Encana (ECA), Suncor (SU), Canadian Natural Resource (CNQ) and Imperial Oil (IMO). Of note, Encana this morning announced a 2015 capital program of $2.7B-$2.9B, with about 80% directed to the Montney, Duvernay, Eagle Ford and Permian, its highest margin growth plays. The company expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. In morning trading, Encana shares rose 9.2% to $12.69, Suncor gained 5.3% to $28.33, Canadian Natural Resource added 4.8% to $28.62 and Imperial Oil advanced 2.5% to $40.88.
09:59 EDTAPCOn The Fly: Analyst Upgrade Summary
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09:22 EDTAPCAnadarko upgraded to Focus List from Outperform at Howard Weil
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09:20 EDTNBLNoble Energy downgraded to Outperform from Focus List at Howard Weil
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09:16 EDTEOGOn The Fly: Pre-market Movers
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07:30 EDTEOGEOG Resources downgraded to Equal Weight from Overweight at Morgan Stanley
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06:04 EDTECAEncana announces $2.7B$2.9B 2015 capital program
Encana announced a highly focused 2015 capital program of $2.7B-.$2.9B, with approximately 80% directed to four of its highest margin growth plays; the Montney, Duvernay, Eagle Ford and Permian. Encana expects to generate approximately 75% of its 2015 cash flow from oil and liquids production. The company estimates total liquids production will grow approximately 70% compared to 2014 to between 140,000 and 160,000 barrels per day, or bbls/d, and anticipates overall production of between 405,000 and 440,000 barrels of oil equivalent per day (boe/d). Encana expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. Encana is committed to protecting its balance sheet through a prudent capital investment program. The company's 2015 capital program is based on assumptions of $70 WTI oil prices and NYMEX natural gas prices of $4 per MMBtu. In addition, the company expects to generate net proceeds of around $800M in the Q1 of FY15 through the completion of the previously announced divestiture of the majority of its Clearwater assets and other anticipated transactions.
December 15, 2014
14:38 EDTAPC, NBLMagellan Midstream extends Saddlehorn open season to Jan. 30
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December 12, 2014
13:27 EDTECAEncana to hold a conference call
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December 11, 2014
17:02 EDTNBLEmerald Oil names Mike Dickinson as COO, effective January 1, 2015
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December 10, 2014
16:44 EDTCHKOn The Fly: Closing Wrap
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December 9, 2014
09:04 EDTNBLNoble Energy management to meet with Guggenheim
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07:02 EDTNBLNoble Energy coverage resumed with a Hold at Stifel
07:01 EDTEOGEOG Resources coverage resumed with a Hold at Stifel
07:01 EDTAPCAnadarko coverage resumed with a Hold at Stifel
December 8, 2014
18:37 EDTEOGEOG Resources divests majority of Canadian assets
EOG Resources announced the divestiture of all its assets in Manitoba and certain assets in Alberta in two separate transactions that closed on November 28 and December 1. Approximate proceeds from the divestitures were US$410M, net of customary transaction adjustments. As a result of these transactions, approximately US$150M of restricted cash related to future abandonment liabilities was released. The proceeds and cash will be utilized for general corporate purposes. Current forecast production from the divested assets is approximately 7,050 barrels of crude oil per day, 580 barrels of natural gas liquids per day and 43.5M cubic feet of natural gas per day. Net proved reserves divested are estimated to be 7.7M barrels of oil, 0.8M barrels of NGLs and 78.7B cubic feet of natural gas. EOG divested 1.3M gross acres, 97% of which were in Alberta. Of the approximate 5,800 producing wells sold, 5,255 were natural gas. EOG has retained approximately 382,200 gross acres in Alberta, British Columbia and Saskatchewan. EOG will maintain an operations office in Alberta
07:26 EDTBTUPeabody still sees FY14 coal sales volumes 245M-255M tons
Peabody Energy Corporation said in a filing that it reaffirms its prior guidance regarding 2014 coal sales volumes, U.S. revenues per ton, operating costs and expenses per ton and capital spending. Specifically, Peabody continues to target full-year 2014 sales volumes of 245 to 255 million tons, including U.S. sales of 185 to 190 million tons and Australian sales of 36 to 38 million tons. Peabody's targeted 2014 Australian sales volumes include 16 to 17 million tons of metallurgical coal and 12 to 13 million tons of seaborne thermal coal. In the U.S., Peabody continues to project a 2% to 4% decrease in revenues per ton compared to the prior year. Peabody also continues to expect a 1% to 3% decrease in its U.S. operating costs and expenses per ton in 2014 compared to the prior year and 2014 Australian operating costs and expenses of approximately $70 per ton, in addition to 2014 capital spending levels of $200M-$220M.
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