Market News

BP (BP)

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
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by Michael Oliveto

Smith International (SII)

Smith International announced today that it has agreed to acquire @Balance, B.V. from Shell Technology Ventures Fund 1 B.V. At Balance, winner of Hart’s 2008 Special Meritorious Award for Engineering Innovation, provides managed pressure drilling (“MPD”) services using its patented technology.
Smith acquired a minority interest in At Balance in late 2007 and increased its stake to 35% during 2009. While the transaction is subject to completion of a final agreement, the Company anticipates concluding the acquisition of the remaining 65% interest during the first quarter of this year. No financial terms were disclosed.

Feb 12 · 11:10:00 PM · Source: Company Press Release
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by Michael Oliveto

ECO International (ESV)

ECO International Incorporated declared a regular quarterly dividend in the amount of $.025 per share payable March 19, 2010 to shareholders of record on March 8, 2010.
At today''s $40.48 stock price the dividend yield is 0.25%.

Feb 12 · 10:26:00 PM
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by Michael Oliveto

Occidental Petroleum (OXY)

Occidental Petroleum Corporation declared a regular quarterly dividend in the amount of $.33 per share payable April 15, 2010 to shareholders of record on March 10, 2010.
At today''s $79.80 stock price the dividend yield is 1.65%.

Feb 12 · 10:01:00 PM
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by Michael Oliveto

ConocoPhillips (COP)

ConocoPhillips declared a regular quarterly dividend in the amount of $.50 per share payable March 1, 2010 to shareholders of record on February 22, 2010.
At today''s $48.67 stock price the dividend yield is 4.11%.

Feb 12 · 9:43:00 PM
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by Michael Oliveto

Range Resources (RRC)

Range Resources will be selling nearly 500,000 acres of oil and natural gas properties primarily in Stark, Portage, Carroll and Tuscarawas counties in Ohio to Houston-based EnerVest Ltd., the largest oil and gas operator in Ohio.
EnerVest will be paying $330 million in the transaction.

Feb 11 · 11:48:00 AM · Source: Ohio.com
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by Michael Oliveto

Noble Energy (NBL)

Ecuador said it may buy a power plant from a unit of the U.S.’s Noble Energy Inc. as the government broadens state control of domestic energy production.
“They have proposed the sale and we are interested,” Borja said in a telephone interview yesterday from Guayaquil, Ecuador. “It will be negotiated.” President Rafael Correa is tightening state control over the nation’s oil, natural gas and electricity production since taking office in 2007. Last month, the government said it began the process to cancel the natural-gas exploration and production contract belonging to Noble Energy’s EDC Ecuador Ltd. unit.

Feb 11 · 11:41:00 AM · Source: Business Week
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by Michael Oliveto

FMC Technologies (FTI)

FMC Technologies announced today that it has signed a multi-year frame agreement with Cobalt International Energy to provide subsea systems, including production trees, manifold hardware and distribution systems.
"Cobalt has established a world class exploration portfolio in the deepwater Gulf of Mexico and offshore West Africa," said John Gremp, FMC's Executive Vice President. "We are pleased to enter this long-term frame agreement and look forward to supporting their offshore efforts."

Feb 11 · 11:31:00 AM · Source: Company Press Release · Related: Cobalt International
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by Michael Oliveto

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