4 Energy Stock Stories To Spark Investment Chatter

BP (NYSE:BP): Current price $41.85

A BP-hired expert has testified that the company followed proper safety procedures in drilling the well that ultimately exploded in 2010 and sent millions of barrels of oil spewing into the Gulf of Mexico. Adam Bourgoyne, a retired petroleum engineering professor, told United States District Judge Carl Barbier in New Orleans as the opening witness in BP’s defense to claims it was grossly negligent in its handling of the well, that the crew and managers of the Deepwater Horizon oil rig followed “standard industry practices” in drilling the Macondo oil well and performing safety tests on it. Bourgoyne also said that a review of the rig’s operations found supervisors and crew members took “extreme care to follow all the safety procedures.”

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BP

Chevron Corporation (NYSE:CVX): Current price $118.52

Chevron spokesman Brent Tippen said that there was no supply interruption following a leak being reported in a sulfur transfer line at its Pascagoula refinery, remarking that ”We don’t comment on day to day operations of the Pascagoula Refinery. We continue to supply our customers with high value products with no interruptions.” The oil giant reported that material from a sulfur transfer line was leaking into a bayou at its 330,000 barrels-per-day Pascagoula refinery in a filing with the United States Coast Guard’s National Response Center on Sunday.

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CVX

Occidental Petroleum Corporation (NYSE:OXY): Current price $81.73

On Monday, the Occidental Petroleum board released the following unanimous statement in response to questions concerning the chief executive succession process announced in February: “In 2010, as a result of shareholder concerns, the Board instituted a leadership succession plan. Ray Irani, 78, stepped down as CEO and became Executive Chairman of the Board. Stephen Chazen, 66, who had been President and COO, became President and CEO. The Board also announced that Dr. Irani will retire as Executive Chairman and as a member of the Board effective at the end of 2014.”

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OXY

Capstone Turbine Corporation (NASDAQ:CPST): Current price $0.93

Capstone has reported that it received an order for thirty-four liquid fuel C30s for use in DesignLine’s Eco Saver IV range extended electric buses. The buses should be delivered to Denver Regional Transportation District later in 2013. The new Denver RTD buses will operate on the 16th Street Mall downtown, and  will replace 36 TransTeq mall buses that were purchased in 1999 and are now at the end of their useful life, said RTD officials. Capstone Turbine is a clean-technology manufacturer of microturbine energy systems.

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CPST

Investing Insights: Is BP Undervalued?