4 Energy Stock Stories To Help Open July Trading

Royal Dutch Shell (NYSE:RDSA): Closing price $63.99

On Monday, Nigeria’s state oil firm Nigeria LNG said that it had declared force majeure on its exports of liquefied natural gas, due to a blockade by the country’s maritime regulator regarding a tax dispute entering its second week. The blockade has prevented liquefied natural gas tankers from getting to Nigeria LNG’s loading terminal on Bonny Island since the middle of June, and originates from a long-standing squabble over the payment of duties on freight and exports between the company and the Nigerian Maritime Administration and Safety Agency. The firm, which is a joint venture between Nigeria LNG, Royal Dutch Shell, Total, and Eni, said in a statement emailed to The Wall Street Journal that it had declared force majeure effective from Friday.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

RDSA

Noble Corporation (NYSE:NE): Closing price $37.95

Noble said Monday that its board has okayed transferring the site of incorporation of the publicly-traded parent of the Noble group of companies from Switzerland to the United Kingdom. Shareholders will be asked to approve the proposed change and, once that occurs, Noble expects the change of the place of incorporation to be effective as soon as it is practicable following the merger of Noble Corporation, which is the current Swiss parent company, into a newly-formed entity incorporated under English law. Noble anticipates that the meeting, in which shareholders will vote on the migration, will be called in the near-term and will occur during the fourth quarter.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

NE

Statoil (NYSE:STO): Closing price $20.86

Statoil of Norway has officially assumed operatorship of 50 percent of the acreage jointly held with Talisman Energy in the Eagle Ford shale play, but the firm has not made a move to purchase its Canadian partner’s interest in the asset. The assumption of ownership, previously agreed to through the pair’s 50:50 joint-venture pact for the Texas asset, will afford Statoil operational control of the eastern portion which covers Live Oak, Karnes, DeWitt and Bee counties. The Norwegian major will be responsible for producing wells and other facilities, pipelines and infrastructure, and a field office in Karnes county. Prior to this, Talisman had held operatorship of the entire acreage through the partnership arrangement signed in 2010.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

STO

Seadrill Limited (NYSE:SDRL): Closing price $20.86

Seadrill’s subsidiary, North Atlantic Drilling, has reached a sale-and-leaseback agreement with Ship Finance International, supported by its billionaire owner John Fredriksen, to hive off a harsh-environment newbuild jack-up in an attempt to reduce its financial exposure on the rig. Ship Finance will shell out $600 million to purchase the West Linus, which is currently under construction at the Jurong Shipyard in Singapore, and due for delivery in December, with North Atlantic to take back the rig on a bareboat charter lasting 15 years. The jack-up has already been chartered out to ConocoPhillips on an initial five-year contract, with two extension options of two years apiece, that is due to commence next April.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

SDRL

Don’t Miss: Report: Exxon Spending $100K Per Day on Tanker Lease.

More Articles About:   , , ,  

More from The Cheat Sheet