4 Energy Stock Stories To Fuel Investor Attention

Exxon Mobil Corporation (NYSE:XOM): Current price $90.95

Following Exxon’s shutting down of its 96,000 barrel-a-day Pegasus pipeline system on Friday after a leak spilled heavy Canadian crude near the town of Mayflower, Arkansas, West Texas Intermediate oil’s discount to London’s Brent widened from the narrowest in nearly nine months. The company has collected roughly 12,000 barrels of oil and water, according to a statement released Sunday from the Mayflower Incident Unified Command Joint Information Center. Meanwhile, the city recommended the evacuation of 22 homes in the area.

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XOM

Chesapeake Energy Corporation (NYSE:CHK): Current price $20.45

The newly named Interim Chief Executive Steve Dixon announced that the natural gas company is set to remain within its budget for the year. Wanting to reassure investors after the exit of the now former Chief Executive Aubrey McClendon, Dixon said during a conference call that he had “tremendous confidence” that Chesapeake’s spending would not surpass its planned drilling budget of around $6 billion. On Friday, the firm announced Dixon’s appointment as interim CEO and said he would be part of a three-person team to lead the second-largest domestic producer of natural gas as it continues to search for a permanent replacement for McClendon.

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CHK

Kinder Morgan Energy Partners (NYSE: KMP): Current price $89.52

On Monday, the firm said it will invest roughly $58 million to expand its chemical storage capacity as it has reached a long-term contract with Methanex Corporation (NASDAQ: MEOH) to support the building of methanol storage capacity near Kinder Morgan’s Geismar Liquids Terminal in Geismar, Louisiana. Kinder Morgan will construct, own, and operate the storage tanks and related infrastructure, including improvements to its existing dock at GLT. The terminal infrastructure should be in service during the second half of 2014, concurrent with the expected startup of the relocated plant.

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KMP

Schlumberger Limited (NYSE:SLB): Current price $74.08

Chief Executive Paal Kibsgaard said in Venezuela after meetings with PDVSA that: “The collections have improved to the point that we will recognize all revenue associated with our first-quarter operations. We further expect to finalize a new payment agreement with PDVSA and we anticipate ramping up activity to meet the current and future needs of PDVSA’s development and production plans, thereby continuing our commitment to Venezuela.”

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SLB

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