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Stock Market & Financial Investment News

News Breaks
October 16, 2012
13:21 EDTHES, MUR, COP, PSXHess trades higher after Murphy Oil spin-off news
Hess (HES) is trading up almost 4% in mid-day trading after industry peer Murphy Oil (MUR) announced it will unlock value by spinning off its U.S. fuel making business into a new company. Conoco-Phillips (COP) implemented a similar strategy earlier this year when it spun-off its fuels, petrochemicals and pipeline businesses into Phillips 66 (PSX). Hess, another integrated oil company, operates in two segments: exploration and production, and marketing and refining, making it a potential candidate for a spin off. On September 11, "Mad Money " host Jim Cramer referenced Hess on his show, noting that Hess' exploration and production side of the business is seen as unfocused. At mid-day, Hess is trading up 2.00, or 3.78%, to $54.94.
News For HES;MUR;COP;PSX From The Last 14 Days
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September 18, 2014
07:38 EDTHESUBS to hold a conference
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September 17, 2014
10:44 EDTHESHess, PDVSA said to finally find buyer for Hovensa refinery, TankTerminals says
U.S. Virgin Islands Governor John de Jongh said Monday that Hovensa, which is jointly owned by Hess and PDVSA, has agreed in principle with an unidentified buyer for the sale of its refinery assets, though a Hovensa spokesman said Tuesday that the company has no comments on a deal or the governor's comments, reported TankTerminals.com. Reference Link
05:38 EDTCOPWestern Refining to acquire Wingate Plant, assets from ConocoPhillips
Western Refining (WNR) announced that it has entered into an agreement for the acquisition of the 25,000 bpd idled Wingate Fractionation Plant in Gallup, New Mexico from ConocoPhillips (COP). The Wingate facility includes rail loading and offloading capabilities and storage facilities in addition to natural gas liquids fractionation capability. The transaction is expected to close in early October. Terms of the transaction were not disclosed. Jeff Stevens, Western's president and CEO said, "The strategic location of the Wingate facility is a great addition to the logistical assets of Western. It is conveniently located near our Gallup Refinery. This transaction will afford Western greater flexibility in the Four Corners region as it will provide approximately 125,000 barrels of pipeline-connected seasonal NGL storage for our Gallup Refinery; crude oil loading and transportation capabilities, both east and west, through the rail loading terminal; and pipeline connectivity to Western Refining Logistics (WNRL) assets."
September 16, 2014
10:47 EDTCOPBadri sees OPEC lowering oil output target at next meeting, Reuters says
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September 15, 2014
20:02 EDTCOPConocoPhillips auctioning 24% stake in the Clair oilfield, FT reports
ConocoPhillips (COP) has hired banks to sell its 24% stake in UK's largest oilfield, The Financial Times reports, citing people familiar with the matter. The 24% stake could be valued between $2B-$3B, the people added. The Clair oilfield sits in Scottish territorial waters, and Conoco's interest in exiting the project is a sign of the challenges facing the North Sea oil industry, The Financial Times added. BP (BP) operates the Clair oilfield and owns a 28.6% stake, Royal Dutch Shell (RDS.A) controls a 28.6% stake, and Chevron (CVX) controls a 19% stake. Reference Link
07:23 EDTPSXHart Energy to hold a conference
2014 DUG Eagle Ford Conference to be held in San Antonio, California on September 15-17.
September 10, 2014
08:22 EDTCOPBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 9, 2014
10:10 EDTCOPOn the Fly: Analyst Upgrade Summary
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07:40 EDTCOPConocoPhillips upgraded to Neutral from Underperform at BofA/Merrill
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