Company Overview and News
In its weekly release, Baker Hughes (BHGE - Free Report) , a GE company, reported an increase in rig count in the United States.
Per Bloomberg, BP plc (BP - Free Report) and ConocoPhillips (COP - Free Report) are in talks over an asset swap deal. Per the agreement, BP will raise stake in the North Sea Clair field, offshore U.K., in exchange of its assets in Alaska. BP is contemplating to acquire ConocoPhillips’ 24% interest in the Clair field. BP, the operator of the field, already has a holding of 28.6%. In return, ConocoPhillips will acquire some of BP’s assets in Alaska.
Taking a look at the recent rumors regarding a possible asset swap between ConocoPhillips and BP plc.
(Bloomberg) -- BP Plc and ConocoPhillips are in discussions for an asset swap deal that would see the U.K. energy major gain a greater foothold in a key project in the North Sea and the U.S. explorer get Alaskan assets, according to people familiar with the talks.
High crude oil prices and the improving natural gas pipeline capacity in the US have been driving the rise in natural gas supplies. WTI oil prices have risen ~68.1% since June 21, 2017. The decline in OECD oil inventories, geopolitical tensions, and ongoing production cuts are driving oil prices higher.
The current implied volatility in Whiting Petroleum (WLL) is ~44.9%. In comparison, its peers Apache Corp. (APA) and Anadarko Petroleum (APC) have implied volatilities of ~30.8% and ~26.8%, respectively. The broader energy sector, represented by the Energy Select Sector SPDR ETF (XLE), has an implied volatility of ~16.5%.
The U.S. oil benchmark hit a 3 1/2-year high around $72 Thursday, helping to put a popular fund that tracks oil-related companies on pace for its longest period of uninterrupted gains in 12 years.
Document UNITED STATES
Increasing interest in the Permian Basin has been evident across the upstream oil and gas industry over the past two years. Distinguished Eagle Ford players such as Devon Energy (DVN) and Pioneer Natural Resources (PXD) dedicated their 2016 and 2017 budgets away from the Eagle Ford Shale. Both companies dedicated only two rigs to Eagle Ford in the first half of 2017.
Management focus on friendly investor returns and accelerating natural gas project in Mozambique will support APC’s share in the short and long term.
Noble Energy, Inc. (NBL - Free Report) finalized an agreement with EPIC Pipeline, LP (“EPIC”) to transport crude oil from Delaware Basin area to Corpus Christi, TX. Per the contract, the company will start transporting 100 thousand barrels of oil per day (MBbl/d) through EPIC pipelines for a period of 10 years starting from the second half of 2019. The 730-mile EPIC crude oil pipeline has a total capacity of 590 MBbl/d and will connect the Permian Basin and the Eagle Ford area to the Port of Corpus Christi.
HOUSTON and NEW YORK (Bloomberg) -- Call it Permian, version 3.0. That’s how Tim Dove, who leads Pioneer Natural Resources, refers to new well designs his company says are now pumping 35% more oil than their predecessors. And Pioneer’s not alone: Rivals are also boasting of huge improvements resulting from new-look technology, indicating that the biggest U.S. oilfield may grow production more quickly than anticipated.
What a week it was for the long-suffering energy investors. As expected, the president reinstated full sanctions on Iran while departing the Iran deal, which many felt was not in the best interest of the United States and its allies. Either way, with the risk premium in the Middle East back on the table, and the worldwide glut of oil almost eliminated, when you add in surging demand you have all the tailwinds needed to push energy stocks higher.
Revenues jumped to $134.21 million in Q1'18, up 7.9% from a year ago and up 4% sequentially.
7h - Asif
Business The company started Square in February 2009 to enable businesses (sellers) to accept card payments, an important capability that was previously inaccessible to many businesses. However, sellers also need innovative solutions to thrive, and Square has since expanded to provide additional products and services to give these businesses access to the same tools as large businesses. This approach aligns with its purpose of economic empowerment, as everything the company do should give sellers accessible, affordable tools to grow their businesses and participate in the economy. Square is a cohesive commerce ecosystem that helps its sellers start, run, and grow their businesses. The company combine sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. Square has high seller acceptance rates and fast onboarding, while maintaining low risk and fraud losses as a result of its a...
8h - Asif
BUSINESS TrovaGene is a clinical-stage, precision medicine oncology therapeutics company. The company's primary focus is to develop oncology therapeutics for improved cancer care and to optimize drug development by leveraging its proprietary Precision Cancer Monitoring® (“PCM”) technology in tumor genomics. The company's lead drug candidate, PCM-075, is a Polo-like Kinase 1 (“PLK1”) selective adenosine triphosphate (“ATP”) competitive inhibitor. PCM-075 has shown preclinical antitumor activity as a single agent and synergy in combination with more than ten different chemotherapeutics and targeted therapies, such as Zytiga® (abiraterone acetate), Beleodaq® (belinostat), Quizartinib (AC220), a development stage FLT3 inhibitor, and Velcade® (bortezomib) in Acute Myeloid Leukemia (“AML”), metastatic Castration-Resistant Prostate Cancer (“mCRPC”) and other hematologic and solid tumor cancers. On March 15, 2017, the company announced the licensing of PCM-075, a PLK1 inhibitor...
2018-05-19 - Asif
OVERVIEW Sangamo BioSciences is a clinical stage biotechnology company focused on translating ground-breaking science into genomic therapies that transform patients’ lives using its industry-leading platform technologies in genome editing, gene therapy, gene regulation and cell therapy. Sangamo BioSciences is a leader in the research and development of zinc finger proteins, or ZFPs, a naturally occurring class of proteins found in humans. Sangamo BioSciences has used its knowledge and expertise to develop a proprietary technology platform in both genome editing and gene regulation. ZFPs can be engineered to make zinc finger nucleases, or ZFNs, proteins that can be used to specifically modify DNA sequences by adding or knocking out specific genes, or genome editing, and ZFP transcription factors or ZFP TFs, proteins that can be used to increase or decrease gene expression, or gene regulation. In the process of developing this platform, Sangamo BioSciences has accrued signific...
as of ET