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Stock Market & Financial Investment News

News Breaks
June 16, 2014
16:12 EDTBP, NBLNoble acquires 50% of BP's interest in deepwater exploration leases
Noble Energy (NBL) announced that it has reached an agreement with BP Exploration & Production to acquire 50% of BP's (BP) interest in 17 deepwater exploration leases in the Gulf of Mexico. Each of the leases resides in the Atwater Valley protraction area, with Noble Energy acquiring a 50% working interest in 13 leases and an average 26% working interest in four leases. As part of the transaction, Noble Energy is participating with a 50% working interest in the Bright prospect, which is currently drilling on Atwater Valley Block 362 in a water depth of approximately 5,600 feet. The initial well, targeting multiple Upper and Middle Miocene reservoirs, is anticipated to be drilled to a total depth of 13,500 feet. The company's total estimated gross unrisked resource range for the Bright prospect is 90M-350M barrels of oil equivalent.
News For NBL;BP 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
09:20 EDTNBLNoble Energy downgraded to Outperform from Focus List at Howard Weil
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December 15, 2014
14:38 EDTNBLMagellan Midstream extends Saddlehorn open season to Jan. 30
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13:00 EDTBPEU conditionally approves BP acquisition of jet fuel unit, Reuters says
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December 14, 2014
17:07 EDTBPOPEC's Badri says group will withstand oil price fall, Reuters says
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December 12, 2014
06:51 EDTBPBrent crude oil fell to five year low, Reuters reports
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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
12:42 EDTBPBP volatility increases as shares trade at 30-month low
BP December and January call option implied volatility is at 31; compared to its 26-week average of 17 according to Track Data, suggesting large price movement.
10:00 EDTBPOn The Fly: Analyst Upgrade Summary
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06:06 EDTBPBP sees $1B in group-wide restructuring charges over coming year
"Although the current environment is challenging, BP is well-positioned to respond and manage our Upstream business for the long term,” said Upstream CEO Lamar McKay. “We expect to see growth from our conventional and deepwater assets and an increasing contribution from gas. And we also have a quality pipeline of opportunities that we believe are capable of extending underlying growth well beyond 2020. Our focus throughout will remain firmly on safe operations, execution efficiency and greater plant reliability.” BP also said that, as part of its wider ongoing Group-wide programme to simplify across its Upstream and Downstream activities and corporate functions, it expects to incur non-operating restructuring charges of circa $1B in total over the next five quarters, including the current quarter. Details of these charges and further guidance on the program are expected to be given with each quarter’s results. Across the Group, BP has said it will be looking to pare or re-phase capital expenditure without compromising safety or future growth. In October, BP told investors this could result in reductions of $1B-$2B in capital expenditure across the Group in 2015 against guidance of $24B-$26B laid out in March. This will be reviewed further as part of the 2015 plan, recognising the current outlook for oil prices. Between now and 2020, the Upstream team’s focus will be on delivery, through safe and reliable operations, strong execution in the existing base business, and the start-up of a suite of new projects which are expected to be capable of adding over 900,000 barrels of oil equivalent a day of net incremental production to BP’s portfolio by 2020. BP will also be progressing opportunities expected to continue to drive underlying growth into the next decade as it builds out its well-established conventional and deepwater oil positions and a distinctive and material portfolio of gas options.
05:53 EDTBPBP upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded BP (BP) to Buy saying shares could see an inflection point in 2015 with the Macondo penalty phase going to trial in January. Deutsche coupled the upgrade of BP with a downgrade of Royal Dutch Shell (RDS.A) to Hold.
December 9, 2014
11:40 EDTBPBP to invest $12B in Egypt over next five years, Reuters reports
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09:04 EDTNBLNoble Energy management to meet with Guggenheim
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08:39 EDTBPBP to close U.S. cellulosic operations, Bloomberg reports
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07:02 EDTNBLNoble Energy coverage resumed with a Hold at Stifel
December 8, 2014
10:53 EDTBPBP to continue advocating for probe of suspicious, implausible spill claims
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10:11 EDTBPBP's plea to review Deepwater Horizon settlement rejected, WSJ reports
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07:53 EDTBPClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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06:09 EDTBPBP to cut hundreds of U.K. jobs this week, Guardian reports
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December 7, 2014
19:41 EDTBPBP set to reduce middle management ranks, freeze projects, Sunday Times says
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