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Stock Market & Financial Investment News

News Breaks
November 8, 2012
10:00 EDTWLL, STOStatoil denies speculation about bidding on Whiting Petroleum, Bloomberg says
Bloomberg cites Statoil (STO) spokesperson.
News For STO;WLL From The Last 14 Days
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February 27, 2015
09:47 EDTSTOStatoil submits Peregrino phase II development plan
Following the sanction of the Peregrino phase 2 project in December, Statoil together with its partner Sinochem submitted the plan of development to the National Agency of Petroleum, Natural Gas and Biofuels in Rio de Janeiro on January 30. The project entails a new well head platform and drilling rig and adds approximately 250M barrels in recoverable resources to Peregrino field. The project entails investments of approximately $3.5B. The Peregrino field has a good track record, with more than 90M barrels produced since first oil in April 2011. Based on the current plan, Peregrino Phase II is expected to start production towards the end of the decade, but Statoil will make adjustments to the schedule should that be necessary. The current solution consists of a wellhead platform with a drilling unit tied-back to the existing FPSO Peregrino. The facilities contains standalone power generation and will export power to WHP-A. A total of 21 wells -- 15 oil producers and 6 water injectors -- are planned to be drilled as part of the Phase II development. The expected recoverable resources from the Phase II development within the concession period until end of 2040 are 250M barrels.
February 25, 2015
16:07 EDTWLLWhiting Petroleum sees 2015 production 59.00-59.70 MMBOE
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16:07 EDTWLLWhiting Petroleum sees Q1 production 14.45-14.85 MMBOE
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16:04 EDTWLLWhiting Petroleum reports Q4 adjusted EPS 44c, consensus 49c
Reports Q4 revenue $696.1M, consensus $740.54M. Reports Q4 production of 131,260 BOE/d, up 13% over Q3 2014. Reports proved reserves up 78% to 780.3 MMBOE.
11:12 EDTWLLWhiting Petroleum volatility elevated into Q4 and outlook
Whiting Petroleum March call option implied volatility is at 78, April is at 69, May is at 80; compared to its 26-week average of 47 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results after the market close today.
February 13, 2015
09:21 EDTWLLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... Web.com (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.
06:23 EDTSTOStatoil, partners to submit plans for Johan Sverdrup development
Statoil and its partners will submit the plan for development and operation for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. The capital expenditures for phase one are estimated at NOK 117B and the expected recoverable resources are projected at between 1.4-2.4 billion barrels of oil equivalent. For the full field development, capital expenditures are estimated at some NOK 170-220B with recoverable resources of between 1.7-3.0 billion barrels of oil equivalent. The Johan Sverdrup oil field is planned to be developed in several phases, Phase one consists of four bridge-linked platforms, in addition to three subsea water injection templates. The ambition is a recovery rate of 70%, with advanced technology for increased oil recovery in future phases taken into account. The development in phase one has a production capacity in the range of 315,000-380,000 barrels per day. First oil is planned for late 2019. The partnership, consisting of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil, has recommended Statoil as the operator for all phases of the field development and operation. The majority of the partnership has asked the Norwegian Ministry of Petroleum and Energy to determine the final allocation of resources in Johan Sverdrup, based on the following proposal: Statoil 40.0267%, Lundin Norway 22.12%, Petoro 17.84%, Det norske oljeselskap 11.8933% and Maersk Oil 8.12%. The majority’s proposal for the allocation of resources is valid until the Norwegian Ministry of Petroleum and Energy decides the final allocation. In addition to the PDO the project will also submit two plans for installation and operation for pipeline transportation and the development of power from shore solution.

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