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Stock Market & Financial Investment News

News Breaks
November 8, 2012
07:23 EDTPDCE, KOG, EPL, WRESBrean Capital to host a conference
2012 E&P Best Ideas Conference is being held in Boston on November 8.
News For EPL;PDCE;WRES;KOG From The Last 14 Days
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December 17, 2014
16:30 EDTWRESCitrus Energy liquidates stake in Warren Resources
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16:19 EDTPDCEIntegrated Core Strategies reports 4.4% passive stake in PDC Energy
13:21 EDTWRESNew York to officially ban fracking, NY Times reports
New York Governor Andrew Cuomo announced his administration will block hydraulic fracturing, or fracking, for natural gas in the state when an existing five-year moratorium pushed by the state Department of Environmental Conservation ends next year, reported The New York Times. The Marcellus shale formation spans New York, parts of Pennsylvania, eastern Ohio, western Maryland, most of West Virginia and into extreme western Virginia. Companies with operations in the Marcellus shale include Warren Resources (WRES), Southwestern Energy (SWN) and Talisman Energy (TLM). Reference Link
10:09 EDTPDCEHigh option volume stocks
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December 16, 2014
09:23 EDTPDCEPDC Energy upgraded to Focus List from Outperform at Howard Weil
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December 10, 2014
07:16 EDTWRESWarren Resources backs 2014 production view
Warren Resources reaffirmed its prior production guidance for FY14 of 1.10MMBbls-1.12MMBbls of oil and 14.50Bcf –15.25Bcf of natural gas.
07:15 EDTWRESWarren Resources sees 2015 production up 96% to 42Bcfe and CapEx $80M
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December 9, 2014
09:21 EDTPDCEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up 3.8%... Burlington Stores (BURL), up 3.3%. ALSO HIGHER: bluebird bio (BLUE), up 56.5% after price target raised at Piper Jaffray and SunTrust... Camtek (CAMT), up 6.7% after being awarded a $2.8M order from a semiconductor manufacturer... PDC Energy (PDCE), up 5.8% after providing fiscal 2015 production guidance... Mast Therapeutics (MSTX), up 3.1% after reporting that it will begin recruiting patients for MST-188 study in first half of fiscal 2015... Idera Pharmaceuticals (IDRA), up 1.4% after announcing data for its lead product candidate, IMO-8400. DOWN AFTER EARNINGS: UTi Worldwide (UTIW), down 10.8%... CONN'S (CONN), down 35.9% after reporting third quarter results, withdrawing fiscal 2015 guidance, stating that there is no timetable set for completion of strategic alternatives, and announcing the departure of its CFO. ALSO LOWER: Apple (AAPL), down 1.6% after Pacific Crest says that weak iPad demand could cause Apple to miss estimates and following a Wall Street Journal report that a judge denied Apple's efforts to throw out iPod pricing lawsuit... Allied Nevada Gold (ANV), down 30.1% after announcing pricing of common stock and warrant offering... United Continental (UAL), down 2.7% after reporting November traffic.
December 8, 2014
17:32 EDTPDCEPDC Energy outlines 2015-2016 hedge and financial positioning
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17:30 EDTPDCEPDC Energy sees FY15 CapEx about $557M, FY15 production 13.8M-14.5M Boe
PDC's capital budget for 2015 is approximately $557M, a decrease of 14% compared to its 2014 capital budget. The company's 2015 budget includes $526M of development capital and $31M for lease maintenance, exploration and other expenditures. The 2015 capital budget is focused on organic growth opportunities in PDC's Inner and Middle core areas of the Wattenberg Field. The Company estimates net production volumes for 2015 will be between 13.8M-14.5M barrels of oil equivalent and expects production growth throughout the year. The company anticipates a commodity mix of approximately 45% crude oil, 20% natural gas liquids and 35% natural gas. The commodity mix reflects the company's increased focus on allocating capital towards its highest-value drilling opportunities in both the Inner and Middle core areas of the Wattenberg Field. For 2015, the company projects it will drill approximately 90% of its wells in the Inner and Middle Core areas, up from about 67% in those areas in 2014. PDC estimates its 2014 production exit rate to be approximately 32,500 Boe per day and its full-year 2014 production volumes to be within its guidance range of 9.3 to 9.5 MMoe. The Company's 2015 production exit rate is anticipated to be approximately 46,500 Boe per day
07:40 EDTPDCEMany 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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