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Stock Market & Financial Investment News

News Breaks
June 16, 2014
16:12 EDTNBL, BPNoble 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.
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September 2, 2014
09:02 EDTBPHalliburton reaches $1.1B settlement on claims related to Macondo
Halliburton (HAL) announced that it has reached an agreement to settle a substantial majority of the plaintiffsí class claims asserted against the company as a result of the April 20, 2010 Macondo well incident in the Gulf of Mexico. The approximately $1.1B settlement, which includes legal fees, is subject to approval by the United States District Court for the Eastern District of Louisiana, and will be paid into a trust until all appeals have been resolved in three installments over the next two years. The companyís previously accrued loss contingency provision relating to the multi-district litigation proceedings is currently $1.3B. The agreement includes the following: Claims against Halliburton that BP (BP) assigned to the settlement class in BPís April 2012 settlement, Punitive damages claims against Halliburton by a class of plaintiffs who allege damages to property or associated with the commercial fishing industry arising from the Deepwater Horizon Incident, and Affirmation that Halliburton has no liability for compensatory damages to the members of the settlement class in the BP April 2012 settlement. Payments will be held in the trust, pending the finalization of this settlement which is contingent on final Court approval, including any appeals of: The BP 2012 settlement with the settlement class, The District Courtís earlier determination that the contractual indemnity provided by BP to Halliburton is valid and enforceable, and The District Courtís earlier dismissal of economic damage claims against Halliburton. Additionally, the settlement is subject to an agreed-upon level of participation by the current claimants which, if not achieved, allows Halliburton to terminate the agreement.
August 29, 2014
09:37 EDTBPActive equity options trading on open
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06:38 EDTBPRising oil supplies pressuring prices, NY Times says
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August 28, 2014
09:34 EDTBPBP confirms refinery 'minimally' affected after fire, AP reports
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08:45 EDTNBLNoble Energy announces 'successful' drilling results in Gulf of Mexico
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07:35 EDTBPBP downgraded to Underweight from Equal Weight at Morgan Stanley
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August 22, 2014
06:39 EDTBPBP drops $9.3B on fuel stations, exploration in Australia, Bloomberg says
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