3 Energy Stock Stories To Spark Monday Chatter

Occidental Petroleum Corp. (NYSE: OXY): Closing price $90.51

Occidental said on Monday that its wholly-owned subsidiary Occidental Petroleum of Qatar Ltd. and Qatar Petroleum agree on the Phase 5 Field Development Plan of the Idd El Shargi North Dome Field, lying offshore Qatar. The ISND Phase 5 FDP has been created in close cooperation between Oxy Qatar and Qatar Petroleum as part of the continued development of ISND, via the Development and Production Sharing Agreement between the Government of the State of Qatar and Oxy Qatar, which was reached in July 1994. The work has already commenced, and will continue to sustain oil output levels at roughly 100,000 barrels per day through the next six years.

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OXY

Seadrill Limited (NYSE:SDRL): Closing price $42.14

Seadrill has signed into turnkey contracts to construct four new ultra-deepwater drillships. Two drillships will be built at the DSME yard, and the other two at the Samsung yard, in South Korea. The project value price is calculated to be under $600 million per unit. Delivery of the 4 units is set for the second half of 2015. Additionally, Seadrill received fixed priced options for delivery of two further units for delivery in the first half of 2016. The drillships will possess a hook load capability of 1,250 tons, together with a water depth capacity of as much as 12,000 feet, targeting operations in areas like the Gulf of Mexico, Brazil and West and East Africa.

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SDRL

Phillips66 (NYSE:PSX): Closing price $59.31

Phillips66′s subsidiary Partners LP has debuted its initial public offering of 15 million common units, representing limited partner interests. It is expected that the common units will trade on the New York Stock Exchange under the ticker symbol PSXP. The underwriters of the offering will be given a 30-day option to buy up to an additional 2.25 million common units from Phillips 66 Partners to cover any over-allotments. The offering marks a 20.9-percent limited partner interest in Phillips 66 Partners, or a 24.0 percent limited partner interest if the underwriters fully exercise their options to acquire additional common units.

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PSX

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