4 Energy Stock Stories To Conclude the Trading Week

Exxon Mobil Corporation (NYSE:XOM): Closing price $90.74

Inside sources said Friday that owners of prospective United Kingdom shale acreage have turned aside interest indicated from four of the largest oil firms on earth: Exxon Mobil, Royal Dutch Shell, Total, and Statoil, in favor of a deal with Centrica. Britain’s number-one energy retailer Centrica, which owns British Gas, was chosen because of its perceived ability to maneuver through political risks with facility, according to the source. The U.K. Energy Minister Michael Fallon commented in a statement that “Centrica’s expertise in the energy sector as both an operator and developer provides a welcome boost for the growth of shale gas in the U.K.” Meanwhile, Centrica said that it would invest as much as $156.8 million in the Bowland shale formation.

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XOM

Petroleo Brasileiro – Petrobras (NYSE:PBR): Closing price $15.65

Late on Thursday, the second-highest court in Brazil refused a request by the government-run oil company for an injunction in a battle over tax payments for offshore oil-platform leases. The decision temporarily renders Petrobras ineligible to participate in government tenders, which includes the upcoming auction of Brazil’s first presalt oil and natural gas exploration acreage. The sale is scheduled for October 22nd in Rio de Janeiro, since the company currently has an outstanding debt with local tax authorities, said a court official. However, Brazil’s new output-sharing regime, obliges Petrobras to hold a 30 percent operator stake in the area to be sold.

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PBR

Noble Energy (NYSE:NBL): Closing price $57.93

On Friday, Noble said that the second appraisal well at Gunflint successfully met 109 feet of net pay within the primary reservoir targets. Drilling, wireline logs, and reservoir data have confirmed an estimated gross resource range of between 65 and 90 million barrels of oil equivalent in the primary structure, which was in-line with the firm’s expectations. The Mississippi Canyon 992 #1 well, lying one mile west of the original discovery well, was drilled to a total depth of about 32,800 feet, in a water depth of 6,100 feet, but commercial hydrocarbons were not encountered in the deeper exploration objective. Additional exploration potential remains in an adjacent three-way structure to the north, which is a candidate for future exploration after development of the confirmed resources.

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NBL

YPF Sociedad Anonima (NYSE:YPF): Closing price $14.82

Argentina’s government-controlled energy firm YPF will join Venezuela’s offshore Deltana Platform natural gas project, along with the state oil company PDVSA and Chevron Corporation (NYSE:CVX), according to Venezuela’s oil minister on Friday. The Deltana Platform is a project established to extract and export natural gas from fields estimated to hold roughly 7 trillion cubic feet. Venezuela has not made a lot of progress in its endeavors to monetize offshore natural gas, and presently imports gas from Colombia, even though it has much larger reserves. Oil Minister Rafael Ramirez signed the accord with YPF President Miguel Galuccio, but did not supply details on the percentage stake that the Argentine company would hold.

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YPF

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