For some time now, Enbridge Energy Partners’ management has been talking about a strategic review of Midcoast. As oil and gas activity in the U.S. started to decline, Midcoast’s business was hit particularly hard.
Category: Oil & Gas
Shares of Enbridge Energy Partners Plunge After Acquisition Announcement
For some time now, Enbridge Energy Partners’ management has been talking about a strategic review of Midcoast. As oil and gas activity in the U.S. started to decline, Midcoast’s business was hit particularly hard.
Stock Market Under Pressure After Weak Data, Earnings
U.S. stocks Friday morning were trading slightly lower as investors weighed disappointing fourth-quarter data on domestic economic growth and a spate of earnings, including disappointing results from Dow component Chevron. Still, the main indexes were on track to book weekly profits during a period marked by the Dow surpassing the psychologically important level of 20,000.
Elon Musk Floated the Idea of a Carbon Tax to Trump, an Official Says
President Donald Trump meets with business leaders including Elon Musk, left, in the Roosevelt Room at the White House in Washington on Jan. 23, 2017. Tesla Motors Inc. founder Elon Musk is pressing the Trump administration to adopt a tax on carbon emissions, raising the issue directly with President Donald Trump and U.S. business leaders at a White House meeting Monday regarding manufacturing.
Baker Hughes Rises Despite Reporting Fourth-Quarter Loss
The oilfield services giant reports a wider-than-expected loss, but sees North America revenue rising for the first half of 2017. Shares of Baker Hughes were rising by more than 1% in premarket trading Thursday, despite the company reporting a wider-than-expected loss, as the oilfield services giant sees North America revenue rising in 2017.
Trump: Build Keystone XL, Dakota Access Pipelines With American Steel
President Donald Trump signed executive orders Tuesday giving the green light for construction of the Keystone XL and Dakota Access pipelines, two projects that stalled under the Obama administration. TransCanada first sought approval for its Keystone XL pipeline in 2008, but President Obama rejected its permit application in November 2015.
5 Earnings Short-Squeeze Trade Ideas
Short-sellers hate being caught short a stock that reports a blowout quarter. When this happens, we often see a tradable short squeeze develop as the bears rush to cover their positions to avoid big losses.
Halliburton Posts North American Profit on Shale Recovery
Halliburton Co. reported fourth-quarter adjusted profit that beat analysts’ estimates as North American shale producers lead the rest of the world into an oilfield recovery.
ConocoPhillips Dividend History: Can the Energy Giant Bounce Back?
The energy industry has gone through huge upheaval over the past couple of years, with oil prices plunging from triple-digit levels to go below the $30 per barrel mark in early 2016 before recovering somewhat. Before then, ConocoPhillips and producing solid dividend yields for its shareholders.
How Investors Can Get In On an Oil Production Resurgence
Reports suggest that 2017 marks the end of the U.S. oil industry’s trend of declining production. In this clip from Industry Focus: Energy , Motley Fool analysts Sean O’Reilly and Taylor Muckerman talk about a few of the best oil and gas companies for long-term investors and a long list of companies that investors will want to look into.
Oil Services Company Schlumberger Reports Shrinking Q4 Loss, Down Revenue
Schlumberger Ltd. reported a net loss of $204 million, or a loss of 15 cents per share, for the fourth quarter, after a loss of $1.02 billion, or an 81 cent per-share loss during the same quarter a year ago. Adjusted earnings for the quarter came in at 27 cents per share, in line with FactSet’s 27 cents consensus.
Kinder Morgan Shares Fall Ahead of Earnings Release
The pipeline operator likely will announce few updates on Wednesday’s earnings call as analysts suspect it will save the biggest news for next week’s analyst day. The country’s largest energy infrastructure company Kinder Morgan is set to report fourth quarter earnings after markets close Wednesday, Jan. 18, and analysts are calling for EPS of 18 cents on $3.5 billion in revenue, according to FactSet.
Hottest Thing in LNG Is Producing Power as Record Glut Looms
Seeking new ways to market their product, producers of liquefied natural gas are turning to an age-old technique: packaging. As demand for electricity booms in developing nations from South Africa to Chile, LNG producers are offering to supply both fuel and a power plant in partnership agreements that can lock in consumption of their product for years.
AQMD proposes ban on toxic hydrofluoric acid at South Bay refineries
Aftermath of Exxon/Mobil explosion and fire at Torrance refinery, Feb. 18, 2015. File photo.
Jim Cramer — Noble’s $2.7 Billion Purchase Makes Perfect Sense
Noble purchasing Clayton Williams for $2.7 billion is an excellent, strategic move to gain more exposure to the Permian, Cramer said. Shares of Clayton Williams Energy are up 36% Tuesday after it was announced on Monday that Noble Energy would purchase the company for $2.7 billion in cash and stock.
Cramer: Rising Deal Tide in the Permian Lifts Oil Boats
Yes, the Permian buys continue to move the needle. It looked like Noble Energy would be hammered when it paid a gigantic premium for Clayton Williams over the weekend; the latter stock is up 37%, but more important, perhaps, is that the stock was at $7 a little less than a year ago and now it is at $143.
Noble Energy Plans to Buy Clayton Williams Energy for $2.7 Billion
Noble Energy said on Monday it would buy Clayton Williams Energy for about $2.7 billion in a cash-and-stock deal, Noble Energy said in a news release Monday. Clayton Williams shareholders will receive 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held under terms of the deal, the company said.
US rig count down 6 this week to 659
The number of rigs exploring for oil and natural gas in the U.S. declined by six this week to 659. A year ago, 650 rigs were active.
These Three Oil Stocks in Permian Basin Are Likely Undervalued
West Texas’ prolific Permian Basin will be bustling with activity in 2017, but Canaccord Genuity says there is growth potential through 2018, leading the firm to believe the “Permian names are underratedly cheap.” It is clear to see that this is the area to be in for domestic oil and gas companies from the Baker Hughes ‘ weekly rig count report.
Will TransCanada Corporation Raise Its Dividend in 2017?
Not only has it increased the payout for the past 16 years, but it has delivered 7% compound annual dividend growth during that period. However, its best dividend growth days appear to lie ahead.
Despite the Energy Rally, Avoid This Dangerous, High-Yield MLP
Oil and gas master limited partnerships have risen from the dead, but don’t get seduced by MLPs with high dividend yields that are unsustainable. These “energy zombies” are eating the brains of investors who should know better.
Judge: Exxon Mobil must give documents to attorney general
Exxon Mobil has been ordered to hand over documents related to a state investigation into whether it misled the public about the impact of fossil fuels on the climate. Wednesday’s decision by a Suffolk Superior Court judge is a win for Attorney General Maura Healey, who’s trying to determine if the company deceived investors and consumers by hiding what it knew about the link between burning fossil fuels and climate change.
Energy choice Perry steps away from Dakota Access pipeline
Former Texas Gov. Rick Perry says he has stepped down from the boards of two energy companies that are developing the controversial Dakota Access Pipeline project. Perry, who is President-elect Donald Trump’s choice for energy secretary, said in a letter to ethics officials that he resigned Dec. 31 from Energy Transfer Partners LP and Sunoco Logistics Partners LP.
Senators Split Over Tillerson and His Ties to Putin
President-Elect Trump’s pick to be Secretary of State suggested that Russia “poses a danger,” responding to concerns that he is overly cozy with the Russian President. Lawmakers on Wednesday were deeply divided over whether President-elect Trump’s pick for Secretary of State, Exxon Mobil CEO Rex Tillerson would be right for the job, with many senators raising concerns about his overly cozy ties with Russian President Vladimir Putin.
Big Oil Hits Sweet Spot as Projects Reap Rewards of Recovery
Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts. Seven of the world’s largest energy companies will together boost oil and natural gas output by 398,000 barrels a day, the most since since 2010, according to data from Oslo-based consultant Rystad Energy AS.
Why This CEO Lets Other Execs Do His Job For A Day
A fresh perspective can be a valuable tool for taking a business to the next level, and one New Hampshire business leader has an unusual way of finding it. In 2012, Travis York, CEO of the marketing agency GYK Antler , created an “exec exchange” program that involved swapping jobs with an executive in another industry for a day.
Big Oil Hits Sweet Spot as New Projects Reap Rewards of Recovery
Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts. Seven of the world’s largest energy companies will together boost oil and natural gas output by 398,000 barrels a day, the most since since 2010, according to data from Oslo-based consultant Rystad Energy AS.
Nasdaq Hits Another Record
The Dow Jones Industrial Average slipped 32 points, or 0.2%, to 19856, after rising within 50 points of the never-before-reached 20000 level earlier in the session. The S&P 500 was flat, and the Nasdaq Composite rose 0.4%, a fresh record.
Oil Falls as Growth in U.S. Drilling Offsets OPEC Output Cuts
Oil fell for the first time in four days as rising U.S. drilling activity fanned speculation that OPEC production cuts could boost North American output. Futures dropped as much as 3.2 percent in New York.
These 5 Oil Stocks Were Smoking Hot in December
Oil prices ended 2016 on a high note, rising more than 8% for the month of December, capping a year where crude jumped nearly 45%. That rising oil market ignited a rally in several oil stocks last month.
Tillerson Ethics Plan Foreshadows Knotty Trump Confirmations
Rex Tillerson’s disclosure that he stands to receive a $180 million cash payout from Exxon Mobil Corp. if he becomes the next U.S. secretary of state offers a preview of the thorny ethical questions that may be raised this week over a presidential cabinet stacked with tycoons. And with confirmation hearings scheduled for Tillerson and eight other appointees of President-elect Donald Trump, the head of the federal office that helps ensure compliance with conflict-of-interest rules told lawmakers his agency is hard-pressed by too much work and too little time.
Oil Halts Gain Near $54 as Rising U.S. Drilling Damps Saudi Cuts
Oil halted its advance below $54 a barrel as an increase in U.S. drilling countered signs OPEC members including Saudi Arabia are sticking to planned output cuts to stabilize the market. Futures slid as much as 0.6 percent in New York after rising 3.2 percent the previous three sessions.
Why You Should (and Shouldn’t) Buy Cheniere Energy, Inc.
Instead, it is a true operating company that we can evaluate on its merits as a business. The question today is, now that the facility is up and running, and the risk of it not coming to fruition has been eliminated, is Cheniere Energy a stock worth adding to your portfolio? We asked three of our contributors to chime in on their thoughts on Cheniere Energy to help you make a more informed decision.
Top Oil Stocks to Buy in 2017
Between OPEC’s recent plans to decrease output by up to 1.2 million barrels per day, another nearly half-million barrels that some non-OPEC oil countries are set to cut, and a million-barrel drop in North American daily production since the peak in 2015, oil prices look poised to surge at some point in the next year or so. After all, global oil and refined product stocks won’t last forever, and while oil output has steadily fallen, consumption has increased.
Daily Dividend Report: ENB, PBA, CNP, COG, COO, SKT
Enbridge declared a quarterly dividend of $0.583 per common share, payable on March 1, 2017 to shareholders of record on February 15, 2017. The declared dividend represents a 10 percent increase from the prior quarterly rate and the twenty-second consecutive year in which the Company has increased its common share dividend.
Tillerson Discloses Global Assets of as Much as $400 Million
Rex Tillerson, President-elect Donald Trump’s pick for U.S. secretary of state, disclosed assets worth as much as $400 million in a federal ethics filing that reflected investments spanning more than a dozen nations. If confirmed by the U.S. Senate, Tillerson will recuse himself for a year from government decisions involving Exxon Mobil Corp., where he served as chairman and chief executive officer until Jan. 1, according to a separate filing posted by the Office of Government Ethics on Wednesday.
Here’s When to Buy Chevron, IBM, 3 More High-Yielding Dow ‘Dogs’
It’s that time of year again — every January, scores of investors flock to the “Dogs of the Dow.” But this year a twist on the typical Dow Dogs strategy is providing a big opportunity for investors who are paying attention to the price action.
Cramer: What Sets Dominion Resources Apart?
For an “Executive Decision” segment, Cramer spoke again with Tom Farrell, chairman, president and CEO of Dominion Resources , a stock that rose 13% in 2016 and currently yields 3.7%. Farrell said that Dominion is different from other utilities because of its natural gas infrastructure, which includes a new export terminal set to come online later this year.
Why Valero Energy, Ensign Group, and The Bancorp Slumped Today
Wednesday was another good day for the stock market, as major market benchmarks posted gains of between 0.25% and 1% to climb back within reach of new record levels. Many market participants focused on the release of the Federal Open Market Committee’s most recent meeting minutes, which didn’t have any major surprises that threatened the positive mood among investors.
Exxon Cashes Out Ex-CEO Tillerson
Exxon Mobil has awarded former Chief Executive Rex Tillerson a $180 million retirement package as the company moves to break financial ties with President-elect Donald Trump’s nominee for secretary of state. If Mr. Tillerson is confirmed, Exxon will transfer the equivalent value of two million unvested shares that he was set to receive at his previously expected retirement in March into a trust, according to the company.