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Tag Archives: New York Stock Exchange

US stocks rebound a day after plunge, led by energy sector

NYSE wall st stocks

U.S. stocks bounced back from an early slide Thursday, recouping some ground a day after their worst drop since September. Energy stocks led the rally as the price of crude oil climbed more than 2 percent. Exxon Mobil and Chevron jumped 4 percent, by far the largest gains in the Dow Jones industrial average. Investors also had their eye on ...

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Chesapeake cuts budget again on weak oil and gas prices

Chesapeake Energy Corp <CHK.N> cut its 2015 capital budget for the second time this year to cope with low oil and gas prices and swung to a large quarterly net loss as the second largest U.S. producer of natural gas wrote down the value of assets. The Oklahoma City, Oklahoma company’s shares fell 5 percent to $7.25 in morning New ...

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Marathon Oil slashes dividend, capex to save cash

Oct 29 – U.S. oil producer Marathon Oil Corp on Thursday said it is slashing its quarterly dividend 76 percent and further reducing capital expenditures to preserve cash on hand as it tries to withstand a prolonged crude price slump. Crude prices have lingered below $50 a barrel for weeks, a level that renders some shale oil drilling unprofitable. To ...

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CONSOL Energy’s limited partnership launches IPO

consologo

CONSOL Energy’s limited partnership, CNX Coal Resources LP, Has officially announced the launch of its initial public offering (IPO) of millions of common units representing limited partner interests. CNX Coal is offering 10,000,000 of its common units to trade on the New York Stock Exchange under the ticker symbol “CNXC.”  There will be a 30-day option for underwriters to purchase ...

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Consol Energy profit falls 35 pct on weak prices

Coal and natural gas producer Consol Energy Inc reported a 35 percent fall in quarterly profit, hurt by weak prices for both commodities. The company, which has shifted its focus to natural gas production, said its coal mining operations would continue to benefit by partnering with the power plants that will be around for many years to come. U.S. power ...

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IHS cuts its forecast as demand dips from energy clients

Business research firm IHS Inc slashed its full-year revenue and adjusted profit forecast due to a strong dollar and spending cuts by oil producers amid a slump in crude prices. The company’s shares fell as much as 10 percent in early trading on Tuesday. IHS gets about 40 percent of its revenue from energy companies, many of which have reduced ...

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Is bankruptcy next for Sabine Oil & Gas?

After its recent departure from the New York Stock Exchange (NYSE), Houston-based Sabine Oil & Gas is now dealing with default claims, the Houston Business Journal reports. Issues have continued to arise after Sabine’s merger with Colorado-based Forest Oil when shareholders officially approved the merger last December. Sabine has yet to file its annual report, although the company says it ...

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ConocoPhillips expects output to rise 13 pecent in next 3 years

ConocoPhillips expects production to climb 13 percent to touch 1.7 million barrels of oil equivalent per day (mmboed) in 2017. The company, whose forecast excludes output from Libya, produced 1.5 mmboed in 2014, a 4 percent rise from 2013. ConocoPhillips said on Tuesday it expects output to grow 2-3 percent in 2015. It did not specify a growth rate for ...

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State senators question Exxon Mobil over Torrance refinery explosion

The auditorium at Torrance City Hall was nearly full Thursday night as several state senators heard testimony related to a Feb. 18 explosion at a nearby oil refinery. A local resident described her husband entering their house, three miles from Exxon Mobil Corp.’s plant in Torrance, covered in white ash after the blast. A representative of the fire department said ...

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