Company Overview and News
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Concho Resources Inc. (CXO - Free Report) reported strong fourth-quarter revenues and earnings results on the back of higher commodity price realizations and robust production growth. The company reported adjusted net earnings per share of 66 cents, comfortably beating the Zacks Consensus Estimate of 46 cents. The bottom line also improved significantly from the prior-year quarter adjusted income of 20 cents per share. (42-0)
Many investors continue to believe that the investment risk correlates with the company's price per share. (178-1)
Noble Energy, Inc. (NBL - Free Report) signed a definite agreement to divest 7.5% interest in the Tamar field, offshore Israel, to Tamar Petroleum Ltd. The companyanticipates receiving $560 million in the form of cash proceeds and 38.5 million shares of Tamar Petroleum. Based on the closing price of Tamar Petroleum, as of Jan 29, 2018, the total value of deal comes to $800 million. It expects the transaction to conclude by the end of first-quarter 2018, subject to Tamar Petroleum's terms and conditions. (28-0)
In Part 1 of this article, I discussed my own views on certain macroeconomic factors that investors should follow in 2018, including global and U.S production and pricing levels. (483-4)
* PENN VIRGINIA ANNOUNCES RETIREMENT OF EXECUTIVE CHAIRMAN AND APPOINTMENT OF NEW MEMBERS OF THE BOARD OF DIRECTORS (8-0)
Penn Virginia Corporation (PVAC - Free Report) is an independent oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well. (10-0)
Penn Virginia Corporation (PVAC - Free Report) has decided to boost its acreages in the oil and gas rich Eagle Ford Shale play. (37-0)
Penn Virginia Corporation (NYSE:PVA) has 2 institutional investors and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 2,108,206 shares. Largest shareholders include Strategic Value Partners, LLC, and Wexford Capital Lp. (8-0)
Good day, ladies and gentlemen, and welcome to the Penn Virginia Corporation webcast. [Operator Instructions] As a reminder, today's conference is being recorded. (8-0)
NEW YORK (Reuters) - Distressed debt investors in U.S. oil and gas companies are turning into activist shareholders and pushing for more deals in the sector to boost the value of energy holdings they snapped up during the oil market slump. (40-4)
* Penn Virginia Corp - co also announced that borrowing base under revolving credit facility increased from $200 million to about $238 million (8-0)
The following slide deck was published by Penn VA Corp New in conjunction with this event. (8-0)
SeaDrill Limited (SDRL - Free Report) , which has been grappling withbankruptcy issues of late,recently announced the completion of the amendment of three credit facilities. This move was in line with the company’s objective to protect its subsidiary SeadrillPartners LLC from going bankrupt. Following the announcement, units of Seadrill Partners rallied 17.98% to eventually close at $3.15 on Aug 17.
The following slide deck was published by Penn VA Corp New in conjunction with this event.
Domestic oil and gas explorer Whiting Petroleum Corporation (WLL - Free Report) ) recently inked a $500 million deal to divest its Fort Berthold assets in North Dakota to a private explorer RimRock Oil & Gas Williston, LLC. The deal will help Whiting Petroleum to reduce debt and streamline its portfolio.