4 Energy Stock Stories For Weekend Investment Perusal

Anadarko Petroleum Corporation (NYSE:APC): Closing price $90.03

Late on Friday, the New York Stock Exchange canceled rogue Anadarko stock trades in the last second of the trading day that brought the stock down from a price of $90 per share to one cent per share in certain trades. Also, data from FactSet Research indicated erratic moves in the last hour of trading, with at least one sinking the price to below $20 per share, but the sudden drop to almost zero happened in the final second of trading. Shares closed Friday 2.2 percent higher at $90.03, as the corporation deferred comment to the NYSE, which began a “clearly erroneous execution review,” which it defines as “an execution with an obvious error in any term, such as price, number of shares or other unit of trading, or identification of the security,” and eventually canceled all trades at or below $87.56 a share in that last second.

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APC

Chevron Corporation (NYSE:CVX): Closing price $123.42

A Petroleos de Venezuela official announced that it will permit joint ventures with China National Petroleum Corp. and Chevron so as  to manage $6 billion in loans created to reverse oil production declines. The government-owned producer made arrangements on terms of a $2-billion credit from Chevron for the Petroboscan venture, and a $4-billion loan from China Development Bank for Sinovensa, according to the official who was briefed on the talks, adding that the transaction will likely close in June.

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CVX

Transocean (NYSE:RIG): Closing price $54.03

Carl Icahn was dealt a defeat Friday by Transocean shareholders, who voted in favor of the firm’s $2.24-per-share annual dividend, turning aside a $4-proposal brought by the billionaire investor Icahn, according to a knowledgeable source, who also said that over 75 percent of all voted shares favored Transocean’s dividend. Transocean conducted its annual shareholder meeting Friday in Switzerland.

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RIG

James River Coal Company (NASDAQ:JRCC): Closing price $2.44

On Friday, James River said that it had entered into separate, privately negotiated exchange agreements, through which it will exchange an aggregate amount of roughly $243.4 million of existing senior convertible notes for $123.3 million of new senior convertible notes. Notes to be exchanged include $90 million of its 4.50 percent senior convertible notes due in 2015, and $153.4 million of its 3.125 percent senior convertible notes due in 2018. These notes will be exchanged for $123.3 million in aggregate principal of new 10-percent senior convertible notes due 2018.

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JRCC

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