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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:03 EDTNS, COPNuStar Energy to expand Eagle Ford crude oil pipeline system
NuStar Energy (NS) announced that it has entered into a long-term Pipeline and Terminal Services Agreement with ConocoPhillips (COP) that will allow expansion of NuStar's South Texas Crude Oil Pipeline System. The agreement will include a pipeline expansion project for NuStar that will allow NuStar to serve ConocoPhillips' growing production in the Eagle Ford Shale play, and new pipeline and terminal facilities will provide Eagle Ford producers with a cost-effective transportation alternative for their growing production. Anastasio stated that NuStar expects to invest approximately $100M-$120M for these expansions, which are backed by a 10-year throughput commitment. According to Anastasio, the projects are expected to generate approximately $15M in incremental, annual EBITDA once fully implemented. He noted that while the expansions would generate some EBITDA in 2013, the vast majority will be earned in 2014 and beyond.
News For NS;COP From The Last 14 Days
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April 11, 2014
12:42 EDTCOPOn The Fly: Analyst Upgrade Summary
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07:49 EDTCOPConocoPhillips upgraded at Morgan Stanley
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07:17 EDTCOPConocoPhillips upgraded to Equal Weight from Underweight at Morgan Stanley
April 10, 2014
11:39 EDTCOPConocoPhillips says plans to deliver double digit returns annually
ConocoPhillips reaffirmed its objective to deliver double-digit returns annually to shareholders at its Analyst Meeting held at the New York Stock Exchange. Members of the company’s executive leadership team outlined ConocoPhillips’ goal to consistently deliver 3%-5% compound annual growth in production and margins, with a compelling dividend, from a diversified, high-quality portfolio. In addition to updating analysts on the company’s investment programs and strong financial performance, ConocoPhillips highlighted its substantial U.S. unconventional position and announced an increase of its estimated resource base in the prolific Eagle Ford play. Based on its prime acreage position and technical knowledge, the company has increased its estimates from 1.8 billion to 2.5 billion barrels of oil in place. Production is also expected to increase from current volumes to more than 250 thousand barrels of oil equivalent a day by 2017. The company also affirmed its five strategic priorities to drive long-term performance: Deliver 3%-5% compound annual production growth; Generate 3%-5% compound annual margin growth over the next several years; Offer a compelling dividend; Focus on improving financial returns; Maintain a relentless focus on safety and execution. Over the next several years, ConocoPhillips plans to execute a disciplined capital program of approximately $16B per year and achieve the company’s organic reserve replacement target of more than 100%.
April 8, 2014
08:20 EDTCOPConocoPhillips to host analyst meeting
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