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ExxonMobil (XOM) Finds Hydrocarbons in P'nyang South-2 Well

23h zacks
ExxonMobil Corporation (XOM - Free Report) has confirmed the availability of hydrocarbons in P’nyang South-2 well, located in the Western Province of Papua New Guinea. On drilling the onshore P’nyang South-2 well, to a total depth of 8,940 feet (2,725 meters), ExxonMobil hit upon high-quality, hydrocarbon-bearing reservoirs in the Toro and Digimu sandstones. The drilling outcome has surpassed ExxonMobil’s expectations. (67-0)

Enterprise (EPD) Hikes Dividend, Banks on Transportation

2018-01-15 zacks
Enterprise Products Partners L.P.’s (EPD - Free Report) board of directors has announced an increase of 3.7% on an annual basis in its quarterly cash distribution. A dividend of 425 cents per common unit or $1.70 per unit on an annualized basis will be paid to the limited partners in the fourth quarter. The dividend is up 0.6% from dividend of 425 cents paid in the preceding quarter. The quarterly distribution will be paid on Feb 7, 2018, to unitholders of record as of the close of business on Jan 31, 2018. (33-0)

Hope Wanes for 'Elephant' Oil Discoveries in Norway's Arctic

2018-01-12 rigzone
(Bloomberg) -- After a disappointing year for drillers, Norwegian authorities are reviewing their hopes for the Nordic country’s hottest exploration area.

Ensco Prices Upsized $1B Offering of Senior Notes Due 2026

2018-01-12 zacks
Ensco plc (ESV - Free Report) has priced an upsized offering of $1 billion principal amount of 7.75% Senior Notes due 2026 at 100% on par. Subject to customary closing conditions, the anticipated settlement date for the offering is Jan 26, 2018. Per a previous announcement, Ensco is also executing offers to buy for cash about $985 million aggregate purchase price, excluding accrued interest. The purchase includes the outstanding 8. (43-0)

Oceaneering, Statoil Ink Deal for Johan Castberg Project

2018-01-12 zacks
Oceaneering International, Inc. (OII - Free Report) recently entered into a deal with Statoil ASA (STO - Free Report) for supplying umbilicals. (52-0)

2017 Was a Disappointing Year for Drillers in Norway's Arctic Waters - Bloomberg

2018-01-11 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Valero or Phillips 66: Which is a Better Pick for 2018?

2018-01-11 zacks
Toward the end of 2017, we saw partial recovery in oil prices. Solid demand growth, declining inventories and the extension of OPEC-led supply cuts until the end of 2018 is keeping the market steady and supporting strong uptrend. While there might be a number of winners within the energy sector, refiners have stood out amid weakness in the commodity prices. Moreover, the overhaul of the nation’s tax code is expected to benefit the refiners. (2-0)

The Zacks Analyst Blog Highlights: Royal Dutch, Chevron, Statoil, Eni and Petrobras

2018-01-11 zacks
Chicago, IL – January 11, 2018 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Royal Dutch Shell (RDS.A - Free Report) , Chevron Corporation (CVX - Free Report) , Statoil ASA (STO - Free Report) , Eni SpA (E - Free Report) and Petrobras (PBR - Free Report) . (135-0)

Shell Vends Stake in Borssele Wind Project to Partners Group

2018-01-09 zacks
Royal Dutch Shell plc (RDS.A - Free Report) recently divested partial stake in two Dutch offshore wind farm projects to Switzerland-based private equity firm Partners Group Holding AG.  The buyer acquired 45% stake from Shell, Eneco Holding N.V. and Mistubishi. The fourth co-partner Van Oord NV will retain its 10% stake. Financial details of the deal however have been kept under wraps. (21-0)

Energy Transfer (ETP) Arm's Mariner East 2 Suffers Setback

2018-01-09 zacks
Energy Transfer Partners’ (ETP - Free Report) subsidiary Sunoco Pipeline LP’s Mariner East 2 pipeline recently hit a regulatory roadblock due to the Pennsylvania Department of Environmental Protection’s (DEP) order to halt the construction of the project. The partnership has been ordered to suspend all construction activities on the project except the maintenance of erosion controls. The partnership has been also allowed to carry out limited maintenance of horizontal directional drilling equipment. (6-0)

Is It the Right Time to Bet on Energy Major Statoil (STO)?

2018-01-08 zacks
Commodity prices have been moving up lately, thanks to a decline in U.S. oil inventory. It is accompanied by a weakening U.S. dollar, which has declined for the first time in the last five years. (22-0)

Hess (HES) Discovers Oil in Stabroek Block, Offshore Guyana

2018-01-08 zacks
Hess Corporation (HES - Free Report) announced that the sixth oil discovery — Ranger-1 exploration well — since 2015 in the Stabroek Block, offshore Guyana, was a success. The five world class discoveries in the block — Liza, Payara, Snoek, Liza Deep and Turbot —are projected to have total recoverable resources of over 3.2 billion barrels of oil equivalent. Further, resources related with the Ranger-1 discovery will raise this estimate. (7-0)

Top Norway fund delivers 25% return by avoiding fish stocks

OSLO: Avoiding the fish farmers was a winning bet for Norway’s top performing fund last year.

Will Oil Majors Really Sink Money Into America's Waters? - Bloomberg Gadfly

2018-01-05 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

This Niche Market Is Unloved For Wrong Reasons

2018-01-05 seekingalpha
Shuttle tankers offload oil from platforms and ship it to shore. This segment is disliked due to offshore and shipping label, but the outlook is actually surprisingly strong. (13-0)

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