4 Energy Stock Stories To Drive Investment Chatter

Exxon Mobil Corporation (NYSE:XOM): Current price $90.14

Late on Monday, Federal regulators proposed $1.7 million in civil penalties against Exxon Mobil for safety violations connected with a pipeline rupture that allowed an estimated 63,000 gallons of crude oil to spill into Montana’s Yellowstone River. In a notice advising the oil super-major, the United States Department of Transportation regulators claimed that a chain of bad decisions by Exxon led up to the spill and in its immediate aftermath, including Exxon employees’ failure to shut an upstream safety valve, which could have significantly lessened the size of the spill after it was first detected.

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XOM

Syntroleum Corporation (NASDAQ:SYNM) Current price $0.3673

The corporation said Monday that its board has okayed a 1-for-10 reverse split of its common stock. As previously reported in the Form 8-K filed June 28, 2012, the stockholders voted to allow discretion to the board to effect a reverse stock split of the stock at any ratio between 1-for-2 and 1-for-10, with the final decision to be determined by that board in its discretion. Syntroleum currently intends for the reverse stock split to become effective after the close on April 11.

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SYNM

Chesapeake Energy Corporation (NYSE:CHK): Current price $20.72

On Monday, Hedge funds holding $250 million in Chesapeake Energy debt requested that United States District Judge Paul Engelmayer withdraw from litigation between the firm and bond trustee Bank of New York Mellon Corp. over redemption of bonds. The reason given for the move was that it would reduce the number of parties involved and avert potentially duplicative filings. Attorney Steven Bierman, speaking for the group, said that the “trial will be streamlined by having a single defendant, with one set of direct and cross-examinations,” in a court filing.

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CHK

Royal Dutch Shell (NYSE:RDSA): Current price $67.41

Shell announced Monday in London that it has purchased for cancellation 900,000 “B” Shares at a price of 2204.13 pence per share. Upon cancellation of these shares, the remaining number of “A” Shares  will be 3,772,388,687 and the remaining number of “B” Shares will be 2,601,635,189.

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RDS-A

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