3 Energy Stock Stories To Spark Investment Chatter

Petrobras – Petroleo Brasileiro (NYSE:PBR): Closing price $19.24

The state-run Brazilian firm said that an offshore oil field operated by Chevron Corporation (NYSE:CVX), closed since March 2012 due to an oil spill, could restart output this week. Chevron is in the final phases of getting authorization from local oil regulators and should reopen the taps “this week,” according to Petrobras’s exploration and production director Jose Miranda Formigli, who remarked that “Obviously, as a partner in the field, we’re very interested in the return of this production.” Petrobras anticipates an average of 4,500 barrels of crude oil per day as its share of production at the field. Petrobras holds a 30 percent interest in the Frade field, while Chevron is operator, with a 51.7 percent stake. The remaining 18.3 percent share is held by a consortium of Japanese companies.

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PBR

BP (NYSE:BP): Closing price $42.63

A hefty BP oil development offshore Angola is $4 billion over budget after being delayed for a year, The Daily Telegraph said Monday, citing an executive, who added that the project was originally set for oil output in late 2011 and estimated to cost roughly $10 billion. Rather, it commenced production in December of 2012. Analysts expected that the project would cost closer to$12 billion, but the total is now thought to be “up over $14 billion” once all the wells have been drilled and connected, said BP Angola’s Vice President Gerry McGurk, according to the newspaper.

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BP

 GreenHunter Energy (NYSE:GRH): Current price $1.15

GreenHunter announced Monday that its wholly-owned subsidiary, GreenHunter Water, has initiated sales of its first MAG Tank. Some 66 MAG Panels are being delivered to an existing customer. The independent oil and gas producer will employ the MAG Tank as a fresh water holding impoundment at a multi-well Utica Shale drill pad in southeastern Ohio. GreenHunter is a diversified water resource, waste management and environmental services firm that specializes in unconventional oil and natural gas shale resource plays.

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GRH

Investing Insights: Is BP Undervalued?

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