Headline News

Geokinetics (GOK)

Geokinetics Completes Acquisition of PGS

Geokinetics announced today that it has completed its acquisition of Petroleum Geo-Services' ("PGS") onshore seismic data acquisition and multi-client data library business ("PGS Onshore").
"The combination of PGS Onshore and Geokinetics solidifies our position as the clear leader in the onshore seismic data acquisition business," said Richard F. Miles, President and Chief Executive Officer of Geokinetics. "It not only brings together two strong complementary seismic data acquisition operations, but it also accelerates our strategic initiatives in the multi-client library business."

Feb 15 · 7:24:00 PM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

BP (BP)

BP In Talks Over $1.2 Bil Canadian Oil Sands Deal

BP is in talks to pay about $1.2 billion for a majority stake in a privately held Canadian company with large reserves of oil-rich sand deposits.
Reliance Industries Ltd is thought to have made a rival $2 billion takeover bid but BP is understood to be the preferred partner, the paper said.

Feb 15 · 7:00:00 PM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Chevron (CVX)

Conflict with Court Appointee in Chevron Lawsuit

In a court filing today in Lago Agrio, Ecuador, Chevron provided newly discovered information showing that the author of a report recommending that Chevron be ordered to pay $27 billion in damages is the majority owner of an oilfield remediation company that stands to gain financially from a judgment against Chevron.
Due to the remediation company`s relationship with Ecuador`s state-owned oil company, Petroecuador, Chevron called upon the court to immediately reject the work of Richard Cabrera on the grounds that he knowingly hid his relationship and that he stands to gain from what was supposed to be unbiased work for the court. "For three years, Mr. Cabrera has concealed clear financial conflicts of interest that disqualify him from acting as an independent and objective evaluator of the evidence in the case," Chevron Vice President and General Counsel Hewitt Pate said. "While Mr. Cabrera`s financial interests alone are sufficient grounds for his report to be rejected, his intentional concealment of those interests further demonstrates that the entirety of his work lacks honesty, integrity, or credibility."

Feb 10 · 1:58:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Exxon Mobil (XOM)

Ghana has not blocked $4bln Exxon deal

Ghana has not blocked a planned $4 billion oilfield stake sale by Kosmos Energy to Exxon Mobil but still threatens to do so if the parties do not abandon the deal, a government source said on Tuesday.
The source said the government had written to Exxon about the deal but had not gone beyond repeating the threat.

Feb 9 · 1:57:00 PM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Devon Energy (DVN)

Devon Sells $1.3B Oil Field Stake To Maersk

Shipping and oil group, AP Moller-Maersk, is purchasing Devon Energy’s stakes in three of its oilfields in the Gulf of Mexico for $1.3 billion.
The Copenhagen-based company will get a 50% stake in the Cascade field and a 25% interest in each of the Jack and St Malo fields.

Dec 31 · 3:49:00 PM · Source: emii.com
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Chevron (CVX)

Chevron Reinstated as a “Buy” at Bof A/Merrill

Dividend.com is reporting that Chevron saw its coverage reinstated on Friday with a “Buy” rating by analysts at Bank of America/Merrill Lynch. The analyst also set a $105 price target on CVX shares, which had closed at $76.78 on Thursday. The analyst said that a group of new projects over the past 18 months will likely spur growth and set the company apart from its peers in the oil industry.

Dec 18 · 1:47:00 PM · Source: Dividend.com
Track · email · face · Twitter · digg · COMMENTS
by Rich Pike

Exxon Mobil (XOM)

Exxon to Buy XTO for $31 Billion

Exxon Mobil agreed to buy XTO Energy Inc. for $31 billion. Owners of XTO will get 0.7098 share of Exxon for each of their shares, the companies said today in a statement. The transaction values XTO at $51.69 a share, 25 percent higher than its last closing price.
XTO is the largest producer of U.S. natural gas. This is a bet by Exxon Mobil that U.S. emissions restrictions will spur increased demand for natural gas.

Dec 14 · 1:30:00 PM · Source: Bloomberg.com
Track · email · face · Twitter · digg · COMMENTS
by Rich Pike

Chevron (CVX)

Chevron Inks $90 Billion Deal with Tokyo Electric

Tokyo Electric Power Company has signed a deal to buy 4.1 million tons of liquefied natural gas per year from Chevron Corp’s Wheatstone project off Western Australia for two decades.
Under the $90 billion deal, Tokyo Electric will also take a 15% stake in Chevron’s holdings in the project and an 11.25% stake in Wheatstone’s onshore processing facilities.

Dec 7 · 2:47:00 PM · Source: Business Spectator
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Previous · Next