Friday, October 18, 2013

OXY Looking To Sell Assets In The Bakken?

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or what you think you may have read here.

Ten companies announced dividend increases including Kinder Morgan, Kinder Morgan Energy, and, El Paso Pipeline Partners.


OXY announces initial phase of strategic review:
  • to sell assets in the Middle East/North Africa; 
  • to pursue strategic alternatives for select midcontinent assetts, including oil and gas interests in the Williston Basin, Hugoton Field, Piceance Basin and other Rocky Mountain assets; and,
  • to sell a portion of its interests in Plains All-American
Four oil service companies (OIH +2%) ripping to multi year highs following strong reports from SLB, BHI (OIH) 50.18 +0.98 : BHI +9%, SLB +3%, HAL +1%, WFT +1%.

Schlumberger beats by $0.05, reports revs in-line : Reports Q3 (Sep) earnings of $1.29 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $1.24; revenues rose 10.6% year/year to $11.61 bln vs the $11.58 bln consensus. Co recorded net credits of $0.51 per share in the second quarter of 2013 and charges of $0.02 per share in the third quarter of 2012. Trades at new high; jumps more than 2%.

Baker Hughes beats by $0.03, reports revs in-line : Reports Q3 (Sep) earnings of $0.81 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.78; revenues rose 8.1% year/year to $5.79 bln vs the $5.78 bln consensus. Trades at new high; jumps almost 8%.  

Some have said the recent success of SLB and BHI can be directly attributed to "the Bakken."

Crazy, crazy market -- completely unpredictable: both the equity futures and crude oil are up in pre-market opening futures.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.