Wednesday, November 8, 2017

The Market And Energy Page, T+291; COP For Investors -- November 8, 2017

COP: COP/CEO was just on CNBC. Had I  missed it, I would not have missed anything. This is as good as the interview for those interested in COP:
  • says committed to returns-focused strategy regardless of commodity price improvement
  • says plans to exceed original oil production forecast despite capital budget cut
  • says no water-borne oil exports from United States in third quarter
  • says 'quite possible' might see quarterly distribution from Australia Pacific LNG joint venture in fourth quarter
  • says does plan to start cutting stake in Cenovus Energy Inc after lock-up period ends in November
  • says currently producing more than 30,000 barrels/day of oil in Libya
  • says all gas from Australia Pacific LNG that's not sold domestically is under long-term contracts to customers in China and Japan
  • says some Australia Pacific LNG customers exercised right to not take up to 10 percent of contracted cargos, making some LNG available for spot sale in 2018 Source text 
Disclaimer: standard disclaimer applies.

Market: looks like all three indices could hit another record high today.
  • NYSE, new highs -- 110, including: Boeing; COP (whoo-hoo); DR Horton; Marathon Petroleum (MPC); McDonald's; Pembina Pipeline (again); Walmart
  • new lows: 79 

No comments:

Post a Comment