4 Energy Stock Stories Ready at the WSCS Pump

Anadarko Petroleum Corp. (NYSE:APC): Closing price $92.61

This week Utah Gov. Gary Herbert asked state officials to tear up a lease that would open wild lands in the eastern part of the state to oil and gas exploration. The Utah Trust Lands Administration had agreed to lease as much as 155 square miles of the Book Cliffs region to Anadarko Petroleum Corp., which said it would begin in an area that already contains some oil and gas wells. The firm’s lease also covers undeveloped lands in a roadless section of Grand County, in which there is big game.

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 Statoil ASA (NYSE:STO): Closing price $22.66

The Norwegian government has opened new prospective acreage in the southeast Barents Sea by requesting block nominations from industry players for the country’s next licensing round. The planned 23rd round will open up for exploration a 44,000 square-kilometer Arctic area that was previously disputed with Russia, and is estimated to hold roughly 1.9 billion barrels of oil equivalent, primarily gas. This will be the first time since 1994 that Norway opens up a new area of its continental shelf.

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Chesapeake Energy Corp. (NYSE:CHK): Closing price $26.33

Chesapeake Energy Corp has begun transitioning a much bigger share of transportation and marketing costs to the owners of the Pennsylvania land it leases. The No. 1 natural gas operator in Pennsylvania’s Marcellus shale formation, Chesapeake in 2013 began to take far heavier deductions from the royalty checks it sends to landowners to help it pay to collect, compress, market and transport natural gas, in most cases slashing compensation by more than 50 percent. The deductions, selected entirely by the company, are allowed under most Pennsylvania drilling leases.

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BP (NYSE:BP): Closing price $42.09

U.S. District Judge Carl Barbier on Wednesday turned down BP’s latest request for an injunction to stop payments from its multibillion-dollar resolution with victims of the Gulf of Mexico oil spill. BP has more than once attempted to halt payments from the 2012 settlement. In its latest endeavor, the oil giant cited claims of potential fraud in the process, but Barbier said in his ruling filed in federal court in New Orleans that there is no basis to suspend the entire claims payment process, even though there might have been conflicts of interest concerning a few attorneys processing some of the claims.

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