ConocoPhillips (NYSE:COP): Closing price $64.31
The firm is rethinking its plans to divest its Canadian oil sands assets after surpassing its target for raising capital through a sale of energy properties around the world. ConocoPhillips had been searching out buyers or partners for one half of its mostly undeveloped oil sands holdings as part of its goal to generate between $8-billion and $10-billion by divesting assets on a global basis.
Royal Dutch Shell (NYSE:RDSA): Closing price $68.38
During the next two to three months, Shell intends to commence output from a greenfield project in the Majnoon oil field in Iraq, according to Chief Financial Officer Simon Henry on Tuesday, who explained that the acceleration in output from the field was delayed while the oil major settled operational and legislative problems linked with the project, including cost recovery and importing equipment.
Pioneer Natural Resources Company (NYSE:PXD): Closing price $138.97
On Tuesday, Pioneer said that it had begun production from its first horizontal Wolfcamp Shale well in Martin County, Texas. The Mabee K #1H well saw an initial 24-hour peak natural flow rate of 1,572 barrels oil equivalent per day with 77 percent oil content. The well was finished in the Wolfcamp B interval, employing a 27-stage hybrid fracture stimulation over the wells perforated lateral length of 6,671 feet.
Chevron Corporation (NYSE:CVX): Closing price $125.94
Knowledgeable sources say that Chevron is in advanced discussions to divest its downstream assets in Egypt and Pakistan, with the planned disposals expected to bring about $300 million. The sources added that the corporation is conducting a separate sale process for its assets in both countries.
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