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Stock Market & Financial Investment News

News Breaks
February 14, 2014
05:18 EDTXOMExxon Mobil announces first production from Damar gas development
Exxon Mobil announced the start of natural gas production at the Damar field off the east coast of Peninsular Malaysia. ExxonMobil subsidiary, ExxonMobil Exploration and Production Malaysia Inc., has a 50 percent interest in the project. The Damar field has a projected capacity of 200 million cubic feet of gas per day. ExxonMobil and joint-venture partner Petronas Carigali Sdn. Bhd. have planned a total of 16 development wells for the platform. Damar was developed under a gas production sharing contract between ExxonMobil, Petronas Carigali and Petronas. ExxonMobil is the operator of the Damar field and Petronas Carigali holds a 50% interest. The Damar startup follows the previously announced Telok gas development in Malaysia, which began production in March 2013. The projects provide additional gas supplies to help meet Malaysia's power and industrial needs and promote growth of the country’s natural gas industry.
News For XOM From The Last 14 Days
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July 2, 2015
16:04 EDTXOMOptions Update; July 2, 2015
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July 1, 2015
18:20 EDTXOMShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link
June 26, 2015
16:00 EDTXOMOptions Update; June 26, 2015
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14:35 EDTXOMImperial Oil and partners Exxon Mobil, BP delay Arctic drilling, CBC News says
Imperial Oil (IMO) as well as its joint venture partners Exxon Mobil (XOM) and BP (BP) have postponed plans for exploratory drilling in the Beaufort Sea, says CBC News Reference Link
June 25, 2015
13:08 EDTXOMPenn Virginia higher after blog speculates on another deal
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12:07 EDTXOMBP said to make $8/share bid for Penn Virginia, Proactive Investors blog says
BP (BP) has made a $8 per share takeover bid for Penn Virginia (PVA), but the latter rejected the bid and is "holding out" for at least $10 per share, UK investor blog Proactive Investors claimed, citing people familiar with the matter. ExxonMobil (XOM) and Chevron (CVX) may also be interested in buying Penn Virginia, according to Proactive, which identifies itself as a "leading multi-media news organisation, investor portal and events management business." Penn Virginia shares are up 7% in midday trading following the report from the blog, which was previously credited for a report on alleged takeover advances made toward drugmaker Receptos (RCPT). Reference Link
June 24, 2015
18:16 EDTXOMGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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08:40 EDTXOMExxon closes oil production off Santa Barbara after pipe burst, L.A. Times says
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07:19 EDTXOMU.K. panel to decide on first fracking in area since 2011, WSJ reports
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