4 Energy Stock Stories Fueling Midweek Investment Chatter
Royal Dutch Shell (NYSE:RDSA): Closing price $65.72
The Anglo-Dutch giant has come up empty with the GM-ES-5 well on the Guyane Maritime permit off the coast French Guiana. Shell’s joint venture partner Wessex Exploration said that the well had reached a total depth of 6460 meters and, while it intersected the reservoir sequences anticipated, no evidence of hydrocarbons were discovered. Thus, GM-ES-5, which was the last well in a four-well exploration program over the Guyane permit, will now be plugged and abandoned, concluding unsuccessful campaign over the offshore permit with the three previous wells in the current program seeing similar results.
Exxon Mobil Corp. (NYSE:XOM): Closing price $92.58
Exxon Mobil has been permitted a 90-day extension to submit a plan to mend its 70-year-old Pegasus oil pipeline that ruptured in Arkansas in March, making it certain that the line will be shut until at least January, said a filing from the Pipeline and Hazardous Materials Safety Administration. The Pegasus pipeline spilled 5,000 barrels of Canadian crude into the town of Mayflower, nearby of Little Rock, causing the evacuation of dozens of homes in the community.
CNOOC Ltd. (NYSE:CEO): Closing price $193.80
China National Offshore Oil Corp.’s division Nexen Energy has reached an exclusive accord with the government of British Columbia to check out the potential of constructing a liquefied natural gas export facility on the northern coast of the province. The agreement permits CNOOC Ltd, through Nexen, together with Aurora LNG joint-venture partners Inpex and JGC of Japan “the exclusive right to pursue long-term access” to land at Grassy Point near Prince Rupert.
Noble Energy Inc. (NYSE:NBL): Closing price $74.01
On Wednesday Noble Energy reported results from the Paraiso-1 exploration well, located in the Tyra Bank concession area offshore Nicaragua. The bore had hydrocarbon shows and found high-quality Tertiary-age carbonate reservoirs did not meet an accumulation of hydrocarbons. Lying in a water depth of 1,220 feet, the well was drilled to a total depth of 10,415 feet.