Tuesday, May 22, 11:20 AM
More on Hugoton Realty Trust (HGT -23%): The company disclosed late Friday it will bear ~80% of a $29.6M XTO Energy (XOM) settlement, which is expected will cause costs to exceed revenues for HGT in its Oklahoma and Kansas properties and affect the Trust's distributions going forward. (earlier)
Comment![Energy, On the Move]
Friday, May 18, 3:43 PM
"Like hitting a walk-off home run in the bottom of the ninth before a full house in Yankee Stadium": ExxonMobil (XOM) hoodwinked the Venezuelan government out of $300M, one of the largest asset seizures ever attempted by an American oil company, according to Steve Colls' new book, Private Empire.
5 Comments[Energy]
Tuesday, May 15, 7:09 PM
Steven Cohen's SAC Capital Advisors sold off more than 1M shares of Apple (AAPL) in Q1, and increased stakes in several other techs, including Advanced Micro Devices (AMD), Cisco (CSCO), Oracle (ORCL) and Hewlett-Packard (HPQ). The firm also cut is holdings in the SPDR Gold Trust (GLD) and sold off sizable chunks of ExxonMobil (XOM) and Pfizer (PFE).
16 Comments[Tech, Energy, Commodities]
Thursday, May 10, 8:39 AM
Chevron (CVX) and Royal Dutch Shell (RDS.A) reportedly are set to be named by Ukraine ahead of Eni (E), ExxonMobil (XOM) and TNK-BP (BP) to explore two vast fields for unconventional natural gas resources. The tender could lead to some of the biggest shale gas extraction projects in Europe. CVX +0.6%, RDS.A -0.3% premarket.
Comment![Energy, Global & FX]
Thursday, May 10, 4:15 AM
Exxon (XOM) said yesterday it will need federal approval before restarting its damaged North Line pipeline in Louisiana, adding it's "still premature to speculate" on when that restart will happen.
Comment![Energy]
Tuesday, May 8, 5:30 PM
Exxon's (XOM) "bossy approach" worked well in the days when oil-rich nations signed purely financial deals and stuck to them, but those rules no longer apply and the Exxon way has stopped working. The result: XOM has struggled to access new oil and gas reserves in recent years. “The game has changed," a competitor's CEO says. "You can’t act like you have all the power any more."
8 Comments[Energy]
Thursday, May 3, 3:21 PM
Today's natural gas inventory report comes as major companies show signs of scaling back their U.S. production. Announcements in recent days from XOM, ECA and COP highlighting reduced Q1 production and pledges of continued reductions - coinciding with a spike in demand from users - could be the start of a trend that would help alleviate the oversupply of natural gas.
6 Comments[Commodities]
Thursday, May 3, 12:39 PM
Exxon (XOM) is hard to beat for safety-conscious investors but Halliburton (HAL) is the better value, TheStreet's Richard Saintvilus writes. XOM's portfolio of E&P projects should mitigate concerns through lean times, and should be considered for any portfolio "with realistic investment horizons and, more importantly, patience," but HAL should be the pick of investors looking for 30% gains.
5 Comments[Energy, Quick Ideas]
Monday, April 30, 4:26 PM
The U.S. pipeline regulator says it is closely monitoring the shutdown of an Exxon Mobil (XOM) pipeline after a leak in Louisiana over the weekend. The company says an estimated 1,900 bbl from the North Line crude pipeline were contained in the immediate vicinity of the spill, with no injuries reported and "no danger to the public."
Comment![Energy]
Friday, April 27, 5:08 PM
Exxon (XOM) and its partners Hess (HES) and Petrobras (PBR) will abandon their exploration effort in the Santos Basin, epicenter of Brazil's offshore oil boom. The block was Exxon's only asset in a basin that's home to some of the largest oil discoveries in recent memory.
5 Comments[Energy]
Friday, April 27, 11:24 AM
At least one analyst thinks Exxon Mobil (XOM +0.1%) could hike its dividend on top its 21% boost earlier this week. "If Exxon Mobil's CEO [Rex Tillerson] stays true to his word... and keeps the yield competitive, there should be further dividend increases before next year," Deutsche Bank says. "We believe shareholder pressure will remain high for this."
6 Comments[Energy]
Thursday, April 26, 12:37 PM
Analysts say market forecasts for Shell’s (RDS.A +3.6%) future earnings will rise after Q1 results beat consensus: “The stock deserves trading at a premium to its peer group,” Societe Generale says, “given its healthy organic production and cash flow growth, and strong upstream asset longevity." Not so for Exxon (XOM -1.8%), whose risky gas endeavors may continue to weigh (earnings).
Comment![Energy, On the Move]
Thursday, April 26, 9:56 AM
Exxon Mobil (XOM -1.8%) is the Dow's weakest performer in early trading after its weaker than expected Q1. Analysts didn't expect EPS to meet the year-ago $2.14, due to XOM's increased reliance on natural gas in recent years, but the $2 result was a rude surprise. U.S. upstream profits slid 26.6% to $1.01B, while overseas upstream fell 8.17% to $6.79B. Oil-equivalent production fell more than 5%.
Comment![Energy, On the Move]
Wednesday, April 25, 3:36 PM
Exxon (XOM +0.3%) will increase its quarterly dividend to $0.57/share from $0.47, the 30th consecutive year XOM has increased its payout to shareholders. The 21% hike, a departure from XOM's usual pattern of conservative but constant dividends, is a sign the world’s largest oil company is confident oil prices will remain high.
6 Comments[Energy]
