4 Energy Stock Stories for Prudent Investor Reading
Exxon Mobil Corporation (NYSE:XOM): Closing price $89.58
Attorneys for the State of New Hampshire said that ExxonMobil knew back in 1984 that adding a chemical to gasoline that makes it burn more thoroughly would triple incidents of ground contamination, at the beginning of an $800 million trial over the environmental effects of the additive. The trial began Monday in Concord, and places in contention the state’s environmental claims against company claims that they were simply complying with federal pollution standards, but judging by the opening statement of New Hampshire, the crux might be more like when did Exxon know?
Spectra Energy Corp. (NYSE:SE): Closing price $27.69
On Monday, Spectra Energy Corp. and Spectra Energy Partners reported that their East Tennessee Natural Gas pipeline has made agreements with Eastman Chemical Company (NYSE:EMN) through which to provide an additional 86 million cubic feet per day of firm transportation capacity for a period of 25 years to Eastman’s Kingsport, Tennessee, facility. The projects carry a combined capital cost of roughly $120 million, and include modifying existing Pipeline facilities and the construction of a new 6.4-mile pipeline extension.
Fuel Tech (NASDAQ:FTEK): Closing price $4.79
The company on Monday said that it received a total of four air pollution control contracts in China, as well as a number of orders in the United States and in Europe. Fuel Tech is a global leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications.
Miller Energy Resources (NASDAQ:MILL): Closing price $3.38
The company reported that January 12th, it tested water-free oil production from the its CPP-H-1 well, which represents the first successful horizontal well drilled and completed in the Mississippian Age Fort Payne formation in North America. The well tested out at a restricted rate of 487 barrels of energy equivalent per day on a ¾ choke. The rate was restricted so as to conserve as much reservoir energy as is possible.
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