4 Energy Stock Stories To Fuel Weekend Investment Chatter

Chesapeake Energy Corporation (NYSE:CHK): Closing price $19.25

Chesapeake’s board of directors has accepted the resignation of Director Louis A. Simpson, and  President and Chief Executive Thomas L. Ryan of Service Corporation International (NYSE:SCI), has been chosen to fill the vacancy, and has also been appointed to the audit committee. Ryan will stand for election at the 2013 annual meeting of shareholders on June 14th; he replaces R. Brad Martin on the audit committee, with  Martin becoming chair of the nominating, corporate governance and social responsibility committee.

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CHK

CNOOC Limited (NYSE:CEO): Closing price $186.10

The jumbo bond by CNOOC, which is China’s number-one offshore oil-and-gas producer by revenue, was oversubscribed by a factor of five, due to robust demand frombig American institutional funds. The state-owned energy company sold a $4 billion, four-part bonds Thursday, in the biggest dollar bond offering ever by a Chinese firm. The deal lured orders of $23.8 billion only 16 hours after it was announced, in the highest demand for a bond sale in Asia, except for Japan in recent years, according to knowledgeable sources on Friday.

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CEO

Marathon Petroleum Corp. (NASDAQ:MPC): Current price $78.10

The corporation is presently unable to load oil from a barge dock on the Mississippi River at Wood River, Illinois, which could depress Canadian oil prices if repairs take too long. The unloading arm at the dock sustained damage early Friday, as a barge it was filling with crude was impacted by other vessels in the river that lost their mooring, said spokesman Shane Pochard for the company in a phone interview. President Andy Lipow  of Lipow Oil Associates LLC in Houston, commented that the dock probably loads 40,000 barrels of heavy Canadian crude per day onto barges that travel down the Mississippi River to Marathon’s 460,000-barrel-a-day Garyville refinery in Louisiana.

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MPC

Occidental Petroleum Corporation (NYSE:OXY): Closing price $90.76

Occidental Chairman Ray Irani was removed by shareholders from the board, and he was absent from Friday’s annual meeting in Santa Monica. Irani has been with the company since 1983, and took over as chairman and chief executive in 1990 following the death of the company founder Armand Hammer. He gave up the CEO post two years ago and was set to retire from the company in 2014. The lead independent director of Occidental since 1999, Aziz Syriani, also withdrew as a candidate for re-election to the board.

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OXY

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