Statoil ASA (NYSE:STO): Closing price $23.00
Statoil on Monday proposed to extend the lifetime of its veteran Statfjord A platform, the oldest producing offshore facility in Norway, to 2020. Since the Statfjord field went online in 1979, it has produced in excess of 4.7 billion barrels of oil equivalent. This year, the field has produced 80,000 barrels of oil equivalent per day. Statoil’s efforts will prolong Statfjord’s output life to around 40 years, so the platform is thus likely to be in operation when the huge Johan Sverdrup field is brought online in late 2018.
Noble Energy Inc. (NYSE:NBL): Closing price $73.14
It was announced that the drilling of the well to Leviathan’s oil-bearing strata, which was intended to commence in December, has been delayed, with no new starting date for the $250 million well set so far, but market sources think that the postponement could last for a minimum of six months. It is still unclear regarding development of Leviathan’s gas field, and the final investment decision has yet to be made by the Leviathan partners. Noble Energy holds 39.66 percent of Leviathan.
Siemens AG (NYSE:SI): Closing price $130.32
Siemens announced Monday that it received an order for two German offshore wind power plants from the Danish state-controlled energy provider Dong Energy A/S. The German firm did not mention the financial details of the transaction, but Dong said its total investment for both wind parks will come to around $2.97 billion, with all 97 wind turbines provided by Siemens. The wind parks Gode Wind 1 and Gode Wind 2 together represent Dong’s largest investment in power generation, and Siemens will service all turbines at the parks for five years, according to a company spokeswoman.
Alpha Natural Resources Inc. (NYSE:ANR): Closing price $7.60
In a Monday report, analyst Brian Yu at Citigroup downgraded Alpha Natural Resources from Neutral to Sell and reduced the price target from $7.10 to $5.10. In the report, Yu said: “ANR shares have risen 36 percent in third quarter despite falling spot prices. We recognize the company positively surprised on their 2014 cost guidance ($64 to $70 a ton versus $72.61 a ton estimate for 2013) but we do not believe lower costs will be sufficient to offset weak spot met coal pricing and the expiration of favorable met coal contracts with domestic steel producers.”