4 Energy Stock Stories At the WSCS Pump
Anadarko Petroleum Corporation (NYSE:APC): Closing price $87.52
On Tuesday, FMC Technologies said that it had received orders from Anadarko for subsea equipment for its Heidelberg field, which is located in the Green Canyon section of the Gulf of Mexico in 5,310 feet of water. FMC’s scope of supply includes five enhanced horizontal subsea trees, tree mounted controls, two manifolds, and other associated tooling and equipment. Subsea Technologies’s Senior Vice Presiden Tore Halvorsen, said that ”FMC Technologies is pleased to provide Anadarko with the subsea equipment needed to develop its Heidelberg field. Anadarko is a leading operator in the deepwater Gulf of Mexico and we are pleased to support them in their efforts.”
Statoil (NYSE:STO): Closing price $22.78
The Norwegian oil major Statoil reported on Tuesday that new drilling has proved Volve field to hold additional oil reserves in a range from 8.8 million to 9.4 million barrels, a range that almost doubles estimated remaining reserves at the North Sea field. This indicates that output there could be prolonged at least until the end of 2016. Statoil holds 59.6 percent of the license, Exxon Mobil Corporation has 30.4 percent, and Bayerngas Norge has 10 percent.
Spectra Energy Partners (NYSE:SEP): Closing price $34.60
Spectra has announced that it will establish a continuous offering program through which it may issue and sell periodically through a sales agent as much as $200 million of common units representing limited partner interests in the firm. The partners expect to begin this program in the second quarter and intend to use the net proceeds from the offering to fund capital expenditures and purchases.
Occidental Petroleum Corporation (NYSE:OXY): Closing price $94.26
According to a report that cites analysts, the country’s fourth largest producer Occidental is talking about how a potential break-up might occur,. The idea was initially floated by its Chief Executive Steve Chazen in April, and it has helped push the stock up. Shares closed up 2.39 percent on Monday, at $94.27, almost $11 higher than before the chief executive mentioned on a quarterly conference call that he was examining potential deals to “move the needle” for the stock. Shares of other big domestic oil companies are up under half as much in that time.