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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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July 28, 2014
07:14 EDTXOMExxon mulls broadening Texas plant into largest in country, Reuters says
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July 25, 2014
10:02 EDTXOMOn The Fly: Analyst Downgrade Summary
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05:41 EDTXOMExxon Mobil downgraded to Underweight from Equal Weight at Barclays
Barclays downgraded its rating on Exxon Mobil (XOM) shares to Underweight from Neutral citing a lack of near-term production growth and the high oil price environment. The firm sees limited upside in shares, but did raise its price target to $105 from $100. Shares of the oil giant closed yesterday up 3c to $104.28.
July 21, 2014
13:36 EDTXOMExxon Mobil files export application for Alaska LNG project
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July 17, 2014
07:31 EDTXOMWEX signs definitive purchase agreement regarding Exxon's Esso Card program
WEX Inc. (WEX) announced the execution of the definitive purchase and sale agreement relating to the previously announced proposed acquisition of ExxonMobil’s (XOM) European commercial fuel card, or Esso Card, program through a majority owned joint venture, WEX Europe Services Limited. In addition, all necessary regulatory approvals have been received and the employee information and consultation processes have been cleared. The transaction is on track and is expected to close in late 2014 or early 2015. “The purchase of the Esso Card portfolio remains an important element to building our on-the-ground presence in the European market, and enhances WEX’s long-term growth profile. Our efforts to advance this transaction remain on track and position us to create a substantial and profitable European footprint,” said Melissa Smith, WEX’s president and CEO.
July 15, 2014
10:00 EDTSDRLOn The Fly: Analyst Upgrade Summary
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06:41 EDTSDRLSeadrill upgraded to Market Perform from Underperform at BMO Capital
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