Wed, Apr. 8, 3:48 AM
- European energy shares are having a party in early trading following confirmation of Shell's blockbuster deal to buy BG Group for $70B.
- Tullow Oil (OTCPK:TUWLF) soars 11.5%, BP (NYSE:BP) is +4.2%, Repsol (OTCQX:REPYY) +2.2%, Total (NYSE:TOT) +1.3% and Eni (NYSE:E) +1.5%. The STOXX Europe 600 Oil & Gas index is +5.4%.
- "The deal is done on a net asset value basis, and the good price tag is set to trigger some re-rating across the whole sector," says a Paris-based trader.
- ETFs: XLE, ERX, VDE, OIH, XOP, ERY, FCG, DIG, GASL, DUG, IYE, XES, IEO, IXC, IEZ, PXE, IPW, PXI, FENY, PXJ, PSCE, RYE, FXN, GNAT, DDG, FILL
May 5, 2014, 7:59 AM| 1 Comment
Mar. 18, 2014, 3:40 PM
- Hyperdynamics (HDY +10.1%) shares recover a sliver of last week's ~70% loss after the energy exploration company issues a rebuke to partner Tullow Oil's (TUWLF, TUWOY) decision to declare force majeure and suspend drilling off the coast of Guinea.
- HDY says Tullow's unilateral actions were "unwarranted and untimely, and that a force majeure event has not occurred," and will provide additional communications "in an effort to recommence drilling plans."
Mar. 12, 2014, 9:39 AM
- Hyperdynamics (HDY -70.5%) plunges at the open on news that Tullow Oil (TUWLF, TUWOY), one of its partners in an offshore exploration project in Guinea, is claiming that U.S. regulatory investigations into HDY constitute a force majeure.
- Tullow, which had planned to start drilling a deepwater well by April 1, says it is unable to meet its contractual obligations and “cannot proceed with its activities on the license until these issues are resolved."
- The Justice Department and SEC are probing HDY over the acquisition and retention of exploration rights in Guinea and have been examining how iron mining rights were awarded in the country’s Simandou area.
Jan. 15, 2014, 10:12 AM
- Kosmos Energy (KOS -6%) sinks after Tullow Oil (TUWLF, TUWOY), KOS's partner in the Jubilee field offshore Ghana, said production would average 100K bbl/day of oil, below expectations.
- KOS's net interest in the field's 2014 production is ~24.1K bbl/day, similar to 2013 levels; as a result, KOS expects to sell eight crude oil cargoes during 2014.
- KOS says the revised forecast primarily stems from the recently completed third gas injection well, which started up in Q4 and provided minimal relief; reservoir performance and well productivity remain strong.
May 2, 2013, 11:57 AMEOG Resources (EOG +0.6%) could see 25% annual oil production growth in coming years, and its stock trades at cheaper multiples than rivals, RBC says as it adds EOG to its "energy best ideas" list. The firm also adds Oceaneering (OII +2.3%); it boots Helmerich & Payne (HP +1.9%) and Precision Drilling (PDS +1%), whose U.S. rig counts have not risen as quickly as expected, as well as Continental Resources (CLR -0.8%). | Comment!
Jan. 11, 2013, 8:16 AMTullow Oil (TUWLF.PK) slides more than 5% in London trading after saying it expects to post ~$2.35B in revenue for 2012 and that unsuccessful explorations write-offs rose to $299M from $121M in 2011. Exploration and appraisal campaigns for 2013 will target 1B boe, with more than 40 wells planned. | Comment!
Dec. 4, 2012, 12:57 PMTullow Oil (TUWLF.PK -4.5%) tumbles on news its Zaedyus-2 appraisal well offshore French Guiana completed drilling but failed to encounter commercial hydrocarbons. The well was drilled in the Guyane Maritime license, where Tullow owns a 27.5% stake and is partnered by Shell (RDS.A, RDS.B), the operator and holding a 45% stake, Total (TOT) and others. | Comment!
Nov. 20, 2012, 9:59 AMHyperdynamics (HDY +8.3%) agrees to sell a 40% gross interest in its oil and gas exploration concession offshore Guinea and transfer operatorship to Tullow Oil (TUWOY.PK, TUWLF.PK) for $27M in past costs and a share of future expenses up to $100M. Cash-strapped HDY had been looking to sell about half its 77% stake in the 25K sq. km license. | Comment!
Oct. 31, 2012, 2:37 PMHyperdynamics (HDY +24.6%) shares surge based on Monday's news of an agreement with Tullow Oil for exclusive negotiations concerning a potential acquisition of a 40% gross interest in its contract area offshore Guinea. Cash-strapped HDY has been seeking to offload part of its operated 77% stake in the concession amid drilling difficulties. | 2 Comments
Jul. 5, 2012, 2:49 PMAnadarko Petroleum (APC -2.2%) shares slide in response to an update from Tullow, its partner in Ghana, on the offshore Jubilee oil field. Tullow cut the upper end of its 2012 projected Jubilee production figure to 80K bbl/day from 90K. Tudor Pickering Holt cuts 2013 production targets for APC by 0.5% and Kosmos Energy (KOS -3.7%), which owns a stake in Jubilee, by 13%. | Comment!
May 7, 2012, 3:56 PMAfrica Oil's (AOIFF.PK +36.7%) pink sheet shares skyrocket after Tullow Oil (TUWOY.PK +5.2%) says the Ngamia-1 well, Kenya’s first oil discovery, may be East Africa's largest oil find following drilling more than halfway to the planned target depth. Africa Oil is Tullow's partner in the site; Tullow is the U.K. explorer with the most licenses in Africa. | 1 Comment
Sep. 9, 2011, 11:20 AMTullow Oil (TUWLF.PK +19%) and Shell (RDS.A -1.4%) announce positive results from their 1st wildcat well in the Zaedyus field off the coast of French Guiana. "The importance of this discovery cannot be overstated," says an analyst, who believes Tullow might be sitting on 3.5B barrels of hydrocarbons. | Comment!
TUWLF vs. ETF Alternatives
Other News & PR