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ConocoPhillips

6/19/2013, 3:35 AM ET

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Wednesday, June 12, 12:14 PM Occidental Petroleum's (OXY) proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, with ConocoPhillips (COP), Anadarko (APC) and Talisman (TLM) among those asking whether the U.S. shale boom has made their global business models obsolete. Separating relatively low-cost investments in U.S. shale from foreign assets carrying bigger potential rewards/risks will unlock a bounty for shareholders, Deutsche Bank's Paul Sankey says. 5 Comments [Energy]
Wednesday, June 12, 8:44 AM Lukoil (LUKOY.PK) and Tullow (TUWLF.PK) secure their first license awards off Norway in the latest licensing round, with Statoil (STO) walking away with the largest haul of 24 blocks awarded to 29 companies. STO picked up seven blocks, including three operatorships; Eni (E) gained three operatorships among four license awards. Other winners: BP, TOT, COP, RDS.A. Comment! [Energy]
Tuesday, June 11, 8:12 AM Chevron (CVX) is selling its stake in two Nigerian shallow water oil blocks holding ~200M barrels of oil, the latest oil major seeking to dispose of assets in Africa's largest producer but where oil theft and a delayed energy law create uncertainty. Shell (RDS.A, RDS.B), Total (TOT) and Eni (E) have sold several blocks; ConocoPhillips (COP) is planning a ~$1.8B sale. 1 Comment [Energy]
Thursday, June 6, 9:09 AM An environmental group files a lawsuit to block a bridge approved by the Army Corps of Engineers that would allow ConocoPhillips (COP) to reach oil leases within Alaska's National Petroleum Reserve, claiming the Corps did not consider the effects on endangered species before granting the permit in 2011. COP's 1,400-ft. span across the Colville River would support a pipeline to move crude oil to processing facilities. 3 Comments [Energy]
Wednesday, June 5, 5:25 PM ConocoPhillips (COP), Suncor (SU) and Husky Energy (HUSKF.PK) offer the best value among energy shares, with Exxon (XOM) and Murphy Oil (MUR) at the bottom of the value heap, Barclays says. COP will rely on its "unmatched" North American unconventional oil portfolio to get better returns for its investments, the firm says in upgrading shares to Overweight with an $80 target (from $67). 8 Comments [Energy, Quick Ideas]
Monday, June 3, 2:29 PM Kinder Morgan Partners (KMP +0.3%) plans to invest ~$107M to expand its 300K bbl/day crude and condensate pipeline system deeper into the Eagle Ford shale play in Texas to hook up to output from a ConocoPhillips (COP) facility. The 31-mile expansion is supported by a long-term contract with COP. Construction on the project is expected to begin in July. 2 Comments [Energy]
Monday, June 3, 5:06 AM Recent oil-tax reform in Alaska has put the state "back in the game," says BP (BP), which, along with partners ExxonMobil (XOM) and ConocoPhillips (COP), intends to invest an extra $1B over the next five years in the massive Prudhoe Bay field on the North Slope. The companies are also looking at a plan to spend a further $3B on projects in order to raise production. 5 Comments [Energy]
Thursday, May 30, 9:23 AM Statoil (STO) and its license partners including ConocoPhillips (COP) and Total (TOT) plan to spend ~$1.3B to develop Oseberg Delta, a small field adjoining the Oseberg oil and gas field in the North Sea, Norway's oil ministry says. The field is estimated to contain 77M boe; production is expected to begin in late 2014. Comment! [Energy]
Tuesday, May 28, 7:53 AM Statoil (STO) makes a discovery in the vicinity of the Grane field in the North Sea containing 18M-33M barrels of recoverable oil. Although the volumes are moderate, STO says "these are fast, high value barrels that are important for extending the production life of existing installations." STO is Grane's operator with a 36.6% stake; partners include Exxon (XOM) and ConocoPhillips (COP). Comment! [Energy]
Wednesday, May 22, 8:48 AM Kazakhstan will decide by July whether to exercise its option to buy ConocoPhillips' (COP) 8.4% stake in the huge Kashagan oil field, which has attracted interest from companies in China and India. The government has a right to buy the stake, which it could sell for ~$5B, as part of an international consortium developing the field, or to decide on a buyer. 1 Comment [Energy]
Tuesday, May 21, 5:54 PM As a second U.S. liquefied natural gas export project gets the green light, Credit Suisse is the latest to predict how much LNG the U.S. might send overseas: potentially 10B cu. ft./day by the end of the decade. Growing confidence that more export approvals are ahead has lifted U.S. natural gas calendar-strip prices for 2015, '16 and '17 by 3%, 4% and 5%, respectively, CS says. (earlier) 3 Comments [Energy]
Tuesday, May 21, 12:17 PM ConocoPhillips (COP +0.7%) is pulling back its plans to sell Canadian oil sands assets in Alberta after it exceeded its target for raising capital by divesting energy properties elsewhere in the world, The Globe and Mail reports. COP is the latest energy company to hold on to assets it planned to divest amid a disappointing environment for selling Canadian oil reserves. 2 Comments [Energy]
Tuesday, May 21, 10:43 AM Liquefied natural gas exports from the U.S. are looking more likely after the Freeport LNG terminal gained conditional approval, Goldman Sachs says, supporting its view that at least 6.8B cu. ft./day of liquefaction capacity will be built in the U.S. The market needs no more than 7.7B/day for the next decade, and Henry Hub prices need to stay at or below $5.10/MBtu to keep U.S. LNG competitive in Europe, Goldman says. 6 Comments [Energy, Global & FX]
Friday, May 17, 5:52 PM The permit approval for the Freeport gas export project opens up the dam for other pending applications, but the pace of coming decisions is still unknown, analysts say, adding that similar projects building from existing facilities are best placed to secure approval and financing. Meanwhile, Cheniere Energy (LNG) has reaffirmed its operating target date of late 2015 for the export terminal it is building at Sabine Pass, La. 19 Comments [Energy]
Friday, May 17, 1:05 PM The Obama administration approves ConocoPhillips-led (COP +0.3%) Freeport LNG as the second U.S. liquefaction project to gain federal approval to export chilled natural gas to countries without free trade agreements with the U.S. The decision is an important harbinger for the remaining 19 applications to export gas to non-FTA countries. 18 Comments [Energy]
Friday, May 17, 11:58 AM Major oil producers launch a joint program to beef up their Arctic oil spill response plan in a bid to convince the Arctic Council they are ready for large-scale development in the region. There are plenty of doubters, of course, and incidents such as BP 2010 Gulf of Mexico spill and Shell's recent problems north of Alaska with two drill ships don't help. 6 Comments [Energy]

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