Wed, Apr. 15, 12:45 PM
Wed, Apr. 15, 9:18 AM
Wed, Apr. 15, 8:57 AM
- Harvest Natural Resources (NYSE:HNR) -27.7% premarket after disclosing an update to its discussions with PDVSA toward reaching an agreement for an amicable exit from Petrodelta.
- HNR says that its "intermittent discussions have not led to any offer or terms that would be remotely fair and equitable to Harvest's shareholders, and PDVSA has been so advised."
- The disclosure takes some of the air out of yesterday's report that PDVSA had offered to buy HNR's Venezuelan assets, which propelled HNR shares to a 129% gain.
Tue, Apr. 14, 1:56 PM| 2 Comments
Mon, Mar. 30, 8:17 AM
- Harvest Natural Resources (NYSE:HNR) -5.7% premarket after its Q4 net loss widens to ~$180M and warning that it is facing a severe cash crunch and will consider restructuring if it fails to obtain sufficient funding.
- HNR says it is experiencing severe liquidity constraints brought about by the failure of the Venezuelan government to approve the company's sale of its Venezuelan assets, the failure to pay dividends and other contractual breaches related to its Petrodelta joint venture with Petroleos de Venezuela.
- The Q4 loss was mostly due to the writedown of its investment in the Petrodelta JV; HNR also calls its Dussafu project off Gabon “economically marginal” due to the collapse in oil prices.
Mon, Mar. 30, 7:29 AM
Thu, Jan. 29, 8:59 AM
- Harvest Natural Resources (NYSE:HNR) -20% premarket after announcing it has withdrawn its request for international arbitration proceedings against Venezuela over what it had considered the thwarting of its investments in the country.
- HNR says it remains committed to protecting the value of its Venezuelan investment, but it cannot promptly pursue its claims without going through a process established in the shareholders' agreement with Petroandina or obtaining a waiver of that process.
Fri, Jan. 16, 12:53 PM
- Harvest Natural Resources (HNR +3%) says it will seek international arbitration against Venezuela, alleging the government has thwarted the development of the company's investment in the country as well as efforts to sell its interests there.
- HNR has held interests in Venezuela for more than 20 years, and has tried to sell its 32% stake in Petrodelta to Pertamina of Indonesia and later to Pluspetrol Venezuela.
Fri, Jan. 2, 12:50 PM
Fri, Jan. 2, 8:09 AM
- Harvest Natural Resources (NYSE:HNR) -6.6% premarket after terminating its agreement to sell remaining interests in Venezuela as a result of the failure to obtain government approval.
- The Venezuelan government said approval would be conditional on unspecified bonus payments and $1.5B in financing for Petrodelta, but HNR says the various companies could not reach agreement.
- HNR thus will retain its 20.4% interest in Petrodelta and Petroandina will retain its 11.6% interest in Petrodelta, which it had purchased from HNR for $125M in Dec. 2013.
- HNR had warned several months ago that its future liquidity depended heavily on completing the sale.
Nov. 6, 2014, 6:40 AM
Nov. 5, 2014, 5:30 PM
- AAON, AAP, AAWW, AEE, AES, AINV, AKRX, AMCX, AMRC, AMSC, AOL, APA, AZN, BBG, BCE, BCRX, BDBD, BKCC, BR, CDW, CECE, CECO, CNK, CNQ, COTY, CPN, CRZO, CVC, CYNI, DNOW, DTV, ERJ, FSYS, FUN, FUR, GEO, GLP, GNRC, GOLD, HAIN, HII, HNR, HSC, HSIC, HSP, HZNP, IT, KATE, KERX, KLIC, LIN, LMIA, LPI, MITL, MPEL, MWIV, NAVB, NRF, NTWK, NXTM, ONE, OWW, PBH, PDCE, PERI, PHMD, PKD, PMC, PNK, POZN, PRFT, PRGO, PRIM, PTCT, RDNT, RGEN, SATS, SCMP, SFUN, SFY, SGM, SLH, SNI, SNMX, SRPT, TAP, TCPC, TDC, TEDU, THS, TK, TNDM, TPH, TU, VC, VIVO, WAC, WD, WEN, WIN, ZEUS
Oct. 28, 2014, 12:46 PM
Aug. 11, 2014, 6:08 AM
Aug. 10, 2014, 5:30 PM
Jul. 16, 2014, 3:42 PM
- Western energy companies are being told they could face China's wrath if they explore in areas now claimed by Vietnam under international maritime law, putting a freeze on some projects.
- Exxon (NYSE:XOM), whose business exposure in China is more limited than some competitors, has pledged to move ahead on exploration off Vietnam, as has Murphy Oil (NYSE:MUR), but Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Talisman Energy (NYSE:TLM) and Harvest Natural Resources (NYSE:HNR) are among firms that have held off drilling in disputed areas despite promising prospects off the Vietnamese coast.
- China earlier said it had finished drilling in the area for now and was withdrawing a drilling rig from the waters, but left the door open to future exploration there.
HNR vs. ETF Alternatives
Other News & PR