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Tag Archives: New York Stock Exchange

Occidental Petroleum completes spinoff

HOUSTON — Oil and gas exploration and production company Occidental Petroleum has completed its spinoff of subsidiary California Resources Corp. California Resources is an independent oil and natural gas exploration and production company focused on assets in California. Holders of Occidental common stock got about 80.5 percent of the outstanding shares of California Resources in November. That distribution amounted to ...

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UPDATE: Apache Corp to sell oil and gas assets for $1.4 bln

Nov 20 – Apache Corp said it would sell oil and gas assets in southern Louisiana and the Anadarko Basin, spanning western Oklahoma and the Texas Panhandle, for about $1.4 billion in two separate deals. U.S. exploration and production companies such as Apache are focusing on lucrative shale oil fields in North America as weak oil prices make drilling more ...

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UPDATE: Are Halliburton and Baker Hughes playing monopoly?

In an effort to minimize the impact of declining oil prices, the world’s second largest oilfield services company Halliburton is in preliminary talks with Baker Hughes Inc. discussing a possible merger. Yesterday, Baker Hughes released a statement saying the company is in “preliminary discussions” with Halliburton regarding a “potential business combination.” However, the statement also specified that “these discussions may ...

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Rice Energy to raise funds for midstream project with IPO

On Thursday, Rice Energy Inc. announced that it has filed a registration statement to the U.S. Securities and Exchange Commission for the initial public stock offering for its Rice Midstream Partners LP, according to a report by the Pittsburgh Business Times. The initial assets of Rice Midstream will likely consist of the company’s natural gas collection systems and compression sites ...

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Chesapeake Energy quarterly profit and output rise

Nov 5 – Chesapeake Energy Corp, the second-largest U.S. producer of natural gas, on Wednesday reported a bigger-than-expected 8 percent increase in third-quarter profit on higher output from lower-cost shale wells in Texas, Louisiana and Ohio. Shares of Chesapeake rose 6.3 percent to $22.64 in morning New York Stock Exchange trading. The results show Chief Executive Officer Doug Lawler’s efforts ...

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Shell Midstream surges in 1st day on NYSE

HOUSTON — Shell Midstream Partners LP is soaring in its debut on the New York Stock Exchange. Its common units jumped $9.32, or 40.5 percent, to $32.32 in Wednesday morning trading. Shell Midstream’s initial public offering of 40 million common units raised $920 million. The master limited partnership, which was created by Royal Dutch Shell to own, run, develop and ...

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Susser Petroleum now trading under Sunoco symbol

Sunoco LP udate

Susser Petroleum Partners announced Monday it has changed its name to Sunoco LP, opening the door to the possibility of changes at local Stripes convenience stores. The company said in a statement it would begin trading on the New York Stock Exchange under the symbol “SUN.” The partnership completes the first dropdown of Mid-Atlantic Convenience Stores, LLC, from Energy Transfer ...

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Dow Chemical profit beats estimates as plastics margins rise

plastic pieces

Oct 22 – Dow Chemical Co reported a better-than-expected profit as margins rose for the ninth straight quarter in its plastics business, its biggest, due to low raw material costs. Shares of the No. 1 U.S. chemical maker by sales rose 3 percent to $49.55 before the bell. Dow’s performance plastics unit has benefited as the shale boom in the ...

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Dominion Resources hopes to raise $350M with IPO

Dominion Resources Inc. plans to file for an Initial Public Offering of stock shares with hopes of raising an initial $350 million for its subsidiary Dominion Midstream Partners LP, according to Columbus Business First. The money will be used to partially fund the construction of the Cove Point liquefied natural gas terminal located in Maryland on the Chesapeake Bay. The ...

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Frack sand company’s initial public offering disappointing

An Ohio company that supplies fracking sand to oil and gas operators came up short of the $1 billion it had hoped to raise with its initial public offering, reports Columbus Business First. Based in Chesterland, Ohio, Fairmount Santrol had planned to offer 44.5 million shares of stock priced between $21 and $24 each. Instead, the company sold 25 million ...

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