16.00 -0.06 (-0.37%)
After hours: 4:27PM EDT
|Bid||16.00 x 45100|
|Ask||16.06 x 1200|
|Day's Range||15.72 - 16.12|
|52 Week Range||9.02 - 17.20|
|Beta (3Y Monthly)||2.34|
|PE Ratio (TTM)||33.60|
|Forward Dividend & Yield||0.05 (0.35%)|
|1y Target Est||15.09|
China National Petroleum Corporation (CNPC) is advancing a strategic partnership with Brazil’s Petrobras and agreed to cooperate with Norway’s Equinor in oil and gas projects
Suncor Energy’s (SU) short interest as a percentage of its outstanding shares has fallen from 0.42% on July 2 to its current level of 0.28%, implying that the bearish sentiment in the stock has decreased. However, in the same period, Suncor stock has fallen 11.9%.
Chevron (CVX) is selling its interests in Norway, while Petrobras (PBR) entered into a strategic joint venture with Murphy Oil Corporation (MUR) in the Gulf of Mexico.
On closure of the transaction, Range Resources (RRC) will retain a net revenue interest of about 82% on the subject Washington County acreage.
The current bidding war for a Brazilian gas pipeline system is a reminder of how good this infrastructure company is at making value-creating acquisitions.
On October 5–12, midstream stock Antero Midstream Partners LP (AM) gained the most on our list of energy stocks. The Alerian MLP ETF (AMLP), the smallest decline among major energy subsector ETFs, fell 2.4%. On October 9, Antero Midstream Partners LP announced that “they have entered into a definitive agreement for Antero Midstream GP LP (NYSE: AMGP) (“AMGP”) to acquire all outstanding AM common units, both those held by the public and those held by Antero Resources, in a stock and cash transaction.”
Through its diverse presence in both upstream and midstream operations, with emphasis on natural gas, Unit (UNT) is well placed to capitalize on the mounting clean energy demand.
Petrobras (PBR) appears to be a solid bet on the back of its ambitious five-year plan and encouraging portfolio of investments.
Petroleo Brasileiro SA is now finalizing terms with Engie and the Canadian fund, Caisse de Depot et Placement du Quebec, the people said, asking not to be named because the talks are private. Petrobras then plans to touch base with other groups for a second round of bids that must meet the terms agreed to with Engie.
Since more than 76% of the total production comprises oil, Oasis Petroleum (OAS) has been capitalizing on the significant recovery in oil prices.
Enterprise Products (EPD) intends to develop two NGL fractionation trains at Mont Belvieu, with the cost of the project estimated at $789.7 million.
Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have put a slew of assets in the Gulf up for sale in recent weeks, while Brazil’s state-run Petrobras this week sold the bulk of its production in the region to mid-cap explorer Murphy Oil Corp. The majors are not leaving the Gulf altogether but they are shifting priorities.
McDermott (MDR) states that the value of the technology providing deal with INEOS is estimated to be in the range of $1-$50 million.
The far-right front-runner in Brazil's presidential election, Jair Bolsonaro, has no plans to privatize oil company Petroleo Brasileiro SA (Sao Paolo:PETR4.SA - News) in the short term if elected, the president of his party told Reuters on Wednesday. Gustavo Bebianno said the sale of Petrobras, Brazil's largest corporation, could still be considered in the medium term, but only after the company had been fully "revitalized" by changing its management.
Antero Midstream's (AMGP) acquisition of Antero Midstream Partners, for the creation of a new entity, is expected to save taxes as well as entitle it to other benefits.
The aggregate principal amount of the senior second lien notes being offered by W&T Offshore (WTI) is estimated at $625 million.