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Stock Market & Financial Investment News

News Breaks
May 27, 2014
09:11 EDTSDRL, XOMSeadrill, North Atalantic sign investment and cooperation pact with Rosneft
North Atlantic Drilling and Seadrill (SDRL) announced that an Investment and Co-operation Agreement has been executed with Rosneft in order to pursue growth opportunities offshore and onshore in the Russian market through at least 2022. As part of these proposed opportunities, NADL will enter the onshore drilling market in Russia and enter into contracts for multiple offshore assets. In addition Rosneft will be acquiring a significant equity stake in NADL. NADL has already contracted to drill the first two wells in the Kara Sea, as part of Rosneft and Exxon's (XOM) joint venture during 2014 and 2015. As part of the agreement, a number of long term contracts for NADL's near-term availability are expected to be signed as well as a commitment to future contracts and newbuild projects. The agreement envisions initial employment of up to 9 offshore rigs to Rosneft with a total commitment of 35 rig years. Closing of the transaction is expected during the second half of 2014, subject to customary due diligence, negotiation of detailed transaction terms, and respective Board approvals. The company's operations in Stavanger will continue as today and will focus on the current operations and future growth. The strategic partnership is likely to entail opening up of other regional offices to serve local growth in demand. Overall activity levels are expected to increase significantly and provide employees with attractive opportunities. Seadrill, after the initial transaction, will remain the largest shareholder in NADL.
News For SDRL;XOM From The Last 14 Days
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August 29, 2014
06:38 EDTXOMRising oil supplies pressuring prices, NY Times says
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August 28, 2014
05:50 EDTSDRLStocks with implied volatility movement; XHB SDRL
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August 27, 2014
06:22 EDTXOMExxon division pays $1.4M to settle Louisiana spill claims, Reuters says
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05:37 EDTSDRLSeadrill reports Q2 EPS $1.29, may not compare to consensus 74c
Reports Q2 revenue $1.22B, consensus $1.28B. Reports Q2 order backlog of approximately $20B.
August 26, 2014
15:24 EDTSDRLSeadrill technical comments ahead of results
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