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Stock Market News For Nov 16, 2017

2017-11-16 zacks
The Dow and the S&P 500 posted steep declines on Wednesday after energy shares tanked following a decline in oil prices. This also marked the S&P 500 and Dow’s worst one-day drop since Sep 5. Additionally, worries centered on a possible delay in tax reforms also led the markets lower. Meanwhile, the Senate Finance Committee announced major amendments to its version of the tax bill. The proposal abolishes the individual mandate of Obamacare and increases the child tax credit. (130-0)

SandRidge (SD) Announces Bonanza Creek Buyout Worth $746M

2017-11-16 zacks
Oil and natural gas company, SandRidge Energy, Inc. (SD - Free Report) recently agreed to acquire its rival Bonanza Creek Energy Inc. (BCEI - Free Report) , a Denver-based company for a total consideration of $746 million including cash and stock. (57-0)

UPDATE: SandRidge to acquire Bonanza Creek Energy in cash-and-stock deal valued at $746 million - MarketWatch

2017-11-15 marketwatch
SandRidge Energy Inc. SD, -4.95% said Wednesday it has reached an agreement to acquire Bonanza Creek Energy in a cash-and-stock deal valued at $746 million. SandRidge said it will pay $36 per Bonanza Creek share. The deal will add 67,000 contiguous net acres in the oil window of DJ Basin of Colorado. "SandRidge will benefit from the greatly increased scale and substantial cost and operational synergies as a result of the transaction," Chief Executive James Bennett said in a statement. (10-0)

BRIEF-SandRidge Energy to acquire Bonanza Creek Energy in deal worth $746 mln​

2017-11-15 reuters
* SandRidge Energy to acquire Bonanza Creek Energy for $36.00 per share in cash and stock (10-0)

PRESS DIGEST - Wall Street Journal - Nov 15

2017-11-15 reuters
Nov 15 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. (10-0)

BRIEF-SandRidge Energy nears agreement to buy Bonanza Creek for about $750 mln - WSJ

2017-11-15 reuters
* SandRidge Energy nearing an agreement to buy Bonanza Creek Energy for about $750 million - WSJ citing sources (10-1)

SandRidge Energy Nears Deal to Buy Bonanza Creek Energy - WSJ

2017-11-15 wsj
SandRidge Energy Inc. is nearing an agreement to buy Bonanza Creek Energy Inc. for about $750 million, according to people familiar with the matter. (10-0)

Bonanza Creek Energy 2017 Q3 - Results - Earnings Call Slides

2017-11-13 seekingalpha
The following slide deck was published by Bonanza Creek Energy in conjunction with their 2017 Q3 earnings call. (4-0)

Bonanza Creek Energy (BCEI) Q3 2017 Results - Earnings Call Transcript

2017-11-11 seekingalpha
Good day, ladies and gentlemen, and welcome to the Q3 2017 Bonanza Creek Energy Incorporated Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this call is being recorded. (4-0)

Cushing Inventories Are Near 5-Month High: Bearish for Oil

2017-10-23 marketrealist
Wall Street analysts expected that crude oil inventories at Cushing would rise between October 13, 2017, and October 20, 2017. Inventories at Cushing rose for the eighth consecutive week in the week ending October 13, 2017. Inventories are near a five-month high. (4-0)

US Dollar Is near a 10-Week High, Could Upset Crude Oil Bulls

2017-10-10 marketrealist
The US Dollar Index fell 0.1% to 93.55 on October 9, 2017. However, it rose almost 1.1% last week. The US dollar (UUP) is near a ten-week high. (44-0)

Geopolitical Tensions Impact Crude Oil Prices

2017-10-04 marketrealist
The people in Kurdistan voted in a referendum for independence on September 25, 2017. As a result, there were threats of supply disruptions from Turkey. The expectations of supply outages pushed Brent (BNO) crude prices to a 26-month high in September 2017. Higher Brent and US crude oil (USO) (DBO) prices have a positive impact on oil producers (VDE) (RYE) like Saudi Aramco, Rosneft, Stone Energy (SGY), and Bonanza Creek Energy (BCEI). (10-0)

OPEC’s Crude Oil Production: Time to Short Crude Oil Futures?

2017-10-02 marketrealist
November US crude oil (SCO) (DBO) futures contracts fell 0.2% and were trading at $51.57 per barrel in electronic trading at 2:20 AM EST on October 2, 2017. (8-0)

Crude Oil Futures Hit Multi-Month Highs but S&P 500 Falls

2017-09-26 marketrealist
November US crude oil (DBO)(DWT)(SCO) futures contracts rose 3% to $52.22 per barrel on September 25—the highest level since April 2017. (5-0)

Why OECD Crude Oil Inventories Hit 2017 Lows

2017-09-26 marketrealist
The EIA (U.S. Energy Information Administration) estimates that the OECD’s (Organisation for Economic Cooperation and Development) crude oil inventories fell by 3 MMbbls (million barrels) to 2,985 MMbbls in August 2017 compared to July 2017. Inventories fell for the eighth time in the last ten weeks due to the production cut deal and improving global crude oil demand. (8-0)

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