Tue, Oct. 21, 3:58 PM
- Global Hunter revisits its commodity price outlook, now moving to $83 long-term oil vs. $85 previously, applying a higher discount rate to future cash flows and modeling more conservative assumptions with regards to future rig activity, which results in downward revisions for several exploration and production stocks price targets and some rating changes (Briefing.com).
- Anadarko Petroleum (NYSE:APC), Gulfport Energy (NASDAQ:GPOR) and Rex Energy (NASDAQ:REXX) are upgraded to Buy; Talisman Energy (NYSE:TLM) is raised to Speculative Buy from Neutral.
- Devon Energy (NYSE:DVN), Hess (NYSE:HES), Occidental Petroleum (NYSE:OXY) and Kosmos Energy (NYSE:KOS) are upgraded to Accumulate from Neutral.
- Cobalt Energy (NYSE:CIE) is downgraded to Speculative Buy from Buy.
Thu, Aug. 28, 11:55 AM
- Cobalt Energy (CIE +1.9%) discloses it has cut ties with two Angolan companies in which government officials had held concealed stakes, amid the possibility of U.S. charges against it involving the Foreign Corrupt Practices Act.
- CIE is developing a major oil find off the coast of Angola, which perennially ranks near the bottom of Transparency International’s corruption perceptions index.
- CIE says it still expects to receive a go-ahead from Angola’s government for it to start pumping oil from its Cameia discovery and for production to begin in 2017.
Tue, Aug. 5, 8:58 AM
- Cobalt Energy (NYSE:CIE) -6.9% premarket after reporting a greater than expected Q2 loss, as dry-hole costs and seismic expenses rose.
- CIE says it is moving forward on development of its Cameia project, targeting the formal sanction of the project by the end of 2014 and first production from the development in 2017.
- In connection with a previously disclosed investigation, CIE says it has received a Wells Notice from the SEC that an enforcement action has been instituted against the company; CIE says its activities in Angola have complied with all laws, including the U.S. Foreign Corrupt Practices Act.
Tue, Aug. 5, 7:05 AM
Mon, Aug. 4, 5:30 PM
- ACM, ACT, ADM, AEE, AKRX, ALLT, AME, AMSC, ANSS, ARCC, ARCO, ARQL, BCRX, BLMN, CIE, CLDT, CNK, COH, CRZO, CVC, CVS, DWRE, EMR, END, ENZY, EXH, EXLP, EXPD, FE, FUN, GLDD, GTIV, GTXI, HCLP, HCP, HEP, IART, IFF, IIVI, INFI, IT, KWK, LIN, LPX, MDU, MGM, MMP, MSI, MWW, MZOR, NILE, NNN, [[NTi]], NVDQ, NWN, ODP, OXF, OZM, PMC, RBA, REGN, RHP, RIGL, RTI, SCMP, SCOR, SMG, SNSS, SPAR, STE, TDG, VMC, VSI, VTG, WLK, WNR, ZBRA, ZTS
Thu, May. 15, 5:53 PM
- John Paulson maintained his place as the biggest shareholder in the SPDR Gold Trust ETF (GLD) as of the end of Q1, keeping his 10.2M-share stake valued at nearly $1.3B while tinkering around the edges of some single-company bets in the mining sector.
- Paulson cut his stake in Freeport McMoRan (FCX) by a third and in AngloGold Ashanti (AU) by ~10%, while holding steady on positions in Agnico Eagle Mines (AEM), Allied Nevada (ANV), Gold Fields (GFI), Iamgold (IAG) and Randgold Resources (GOLD).
- His biggest new positions came in Verizon (VZ), buying ~8.75M shares worth $415.9M, and CBS, acquiring a ~4.47M-share stake worth $276.6M; he more than doubled holdings in (GM, $138M) and Cobalt Energy (CIE, $499M) while cutting his stake in Hess (HES) by 62%.
Thu, May. 8, 9:16 AM
Thu, May. 8, 8:58 AM| Comment!
Thu, May. 1, 9:59 AM
- Cobalt Energy (CIE +4%) opens higher after Q1 earnings beat estimates, and operating costs and expenses totaled ~$47M vs. $112.4M in the year-ago quarter; no revenue figures were reported.
- The big news was the flow test on CIE's Orca deepwater discovery, which the company says proves sustained oil production capability and could be one of the largest oil fields in Angola.
Thu, May. 1, 7:12 AM
Wed, Apr. 30, 5:30 PM
- AAWW, ABMD, ACIW, AFSI, AIT, AMT, ANR, ANSS, ARG, AVP, BBW, BDC, BDX, BG, BGCP, BKCC, BLL, BWA, BZH, CAH, CHD, CI, CIE, CLX, CME, CNP, CNSL, COP, CPN, CRCM, CROX, CVI, CVRR, DIN, DPZ, ENDP, EPD, EXAS, FCH, FCN, FIG, FIS, FSS, FUR, GG, GNRC, GWR, HAR, HEP, HSNI, HST, I, IART, IDA, IDCC, IIVI, INCY, IQNT, IRDM, IRM, IT, ITC, ITT, IVZ, JAH, K, KMT, LAZ, LINE, LLL, LM, MA, MD, MDC, MFA, MFC, MPC, MPLX, MSI, MTOR, MWW, MYL, NGLS, NILE, NNN, NVO, O, OAK, OCN, OGE, PCG, PCRX, PEG, PMC, PPL, PRLB, PTRY, PWE, PWR, Q, RFP, RGLD, RRD, SBH, SFY, SHOO, SHPG, SMP, SNMX, STRZA, SWC, TEVA, THRM, TMUS, TXT, UAN, UPL, VG, VIAB, VICL, WLT, WWE, XEL, XOM, YRCW.
Wed, Mar. 19, 3:26 PM
- Oil and gas companies pledged ~$872M for drilling rights in the Gulf of Mexico during today's high-stakes auction that demonstrated plenty of enthusiasm for offshore development in both shallow and deep water.
- BP, which had been forced to sit out the last three auctions under a government contract suspension, won 24 of its 31 bids for drilling leases in the central Gulf, including territory near its failed Macondo well.
- The highest single bid came from Freeport McMoRan (FCX), which pledged $69M and beat out five other companies for the rights to drill a tract in the Atwater Valley leasing area, home to at least five discoveries.
- FCX won 16 of its 17 bids with a $321M price tag, more than three times as much as the next-biggest spender, Chevron (CVX), which scored $103M in high bids; Murphy Oil (MUR) was no. 3 with 16 bids totaling nearly $50M.
- Cobalt Energy (CIE) was the most aggressive bidder, winning 44 of 46 offers worth $26M.
Thu, Feb. 27, 2:10 PM
- Cobalt Energy (CIE +6.3%) advances despite reporting a worse than expected Q4 loss, on news that a new well recently completed off the Angola coast could contain 400M-700M barrels of crude oil.
- CIE says analysis of the Orca No. 1 deepwater pre-salt exploratory well in Angola's Kwanza basin confirmed the existence of a large light oil reservoir and a thin condensate and gas cap in the upper section of the well.
- The well is CIE's fifth consecutive pre-salt discovery in the Kwanza basin.
Thu, Feb. 27, 9:09 AM
Thu, Feb. 27, 7:12 AM
Thu, Feb. 27, 12:05 AM| Comment!
CIE vs. ETF Alternatives
Cobalt International Energy, Inc. is an oil exploration and production company with a salt prospect inventory in the deep water of the U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa.
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