Government Approvals, Joint Programs, and Increased Production to Yield Higher Margins for Oil & Gas Players - Research Report

Government Approvals, Joint Programs, and Increased Production to Yield Higher
 Margins for Oil & Gas Players - Research Report on Chevron, BP, Cimarex, WPX
                            Energy, and PetroChina

Editor Note: For more information about this release, please scroll to bottom

PR Newswire

NEW YORK, June 27, 2013

NEW YORK, June 27, 2013 /PRNewswire/ --

Today, Wall Street Reports announced new research reports highlighting Chevron
Corporation (NYSE: CVX), BP plc (NYSE: BP), Cimarex Energy Co. (NYSE: XEC),
WPX Energy, Inc. (NYSE: WPX), and PetroChina Co. Ltd. (NYSE: PTR). Today's
readers may access these reports free of charge - including full price
targets, industry analysis and analyst ratings - via the links below.

Chevron Corporation Research Report

On June 16, 2013, Chevron Corporation (Chevron) announced that its subsidiary,
Cabinda Gulf Oil Company Limited has confirmed the commencement of the initial
production of liquefied natural gas (LNG) at the Angola LNG project. George
Kirkland, Vice Chairman of Chevron, said, "First gas at Angola LNG is an
important milestone in support of our strategic plan to grow our production."
Kirkland added, "This project will commercialize natural gas resources in
western Africa to meet growing demand in the region and internationally."
Chevron reported that Cabinda Gulf Oil Company Limited has a 36.4% stake in
the joint venture, while Sonangol has 22.8% stake, and subsidiaries of Total,
BP, and ENI, each owns 13.6% stake.. The Full Research Report on Chevron
Corporation - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
[http://www.WSReports.com/r/full_research_report/de43_CVX]

--

BP plc Research Report

On June 18, 2013, BP plc (BP) and Zhuhai Port Co received final approvals from
the Chinese Government for the construction of a third purified terephthalic
acid (PTA) plant at Zhuhai, Guangdong. BP reported that the Zhuhai 3 plant is
expected to have a capacity of 1.25 million tonnes per year, and is expected
to begin its operations in late 2014. "This plant will be using BP's latest
proprietary technology and should make BP Zhuhai the most competitive PTA
producer in the world. As one of the largest PTA producers in the world, our
aim is to invest continuously in the right projects as well as invest to
improve the competitiveness of our PTA sites and PTA joint ventures globally,"
said Nick Elmslie, CEO of BP Global Petrochemicals. The Full Research Report
on BP plc - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
[http://www.WSReports.com/r/full_research_report/ff46_BP]

--

Cimarex Energy Co. Research Report

On June 24, 2013, Cimarex Energy Co. (Cimarex) announced that it has formally
entered into an eight-year agreement with Chevron USA Inc., a subsidiary of
Chevron Corporation, for the joint development of their combined Delaware
Basin acreage, located in Culberson County, Texas. "Collaborative development
of this 'checkerboard' acreage ownership makes perfect sense. Optimal well
placement for both Second Bone Spring wells and longer-lateral Wolfcamp shale
tests can now be achieved. We look forward to having Chevron as a partner on
what will surely be a legacy asset for Cimarex," said Tom Jorden, CEO of
Cimarex. The Company reported that it will act as the operator of the joint
development which covers 104,000 acres. Also, Cimarex stated that Chevron will
contribute to its total acreage, and will pay approximately $60 million for a
50% stake in the Cimarex-built Triple Crown gas gathering and processing
system and wells drilled on the acreage in 2013. The Full Research Report on
Cimarex Energy Co. - including full detailed breakdown, analyst ratings and
price targets - is available to download free of charge at:
[http://www.WSReports.com/r/full_research_report/8576_XEC]

--

WPX Energy, Inc. Research Report

On June 5, 2013, WPX Energy, Inc. (WPX Energy) announced its intention to
employ seven drilling rigs in Western Colorado's Piceance Basin for the
remainder of 2013, which is higher than the Company's previously announced
five-rig drilling plans. WPX Energy reported that the growth of its
development activity is expected to add an incremental 1.9 billion cubic feet
equivalent of production throughout the remaining months of 2013, boosting the
basin's exit rate from 701 million cubic feet of gas equivalent per day
(MMcfe/d) to 730 MMcfe/d by the end of 2013. Ralph A. Hill, President and CEO
of WPX Energy, stated, "WPX has a unique position in the Piceance. We have
everything in place there to be among the first and fastest to increase our
production. We have the permits, favorable processing contracts, take-away
transportation capacity and large-scale, low-cost, efficiency driven
operations to yield attractive returns." The Full Research Report on WPX
Energy, Inc. - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
[http://www.WSReports.com/r/full_research_report/6a8f_WPX]

--

PetroChina Co. Ltd. Research Report

On June 14, 2013, PetroChina Co. Ltd. (PetroChina) entered into a Joint
Venture agreement with Taikang Asset and the Guolian Fund, pursuant to the
which, PetroChina, Taikang Asset, and the Guolian Fund will jointly establish
the JV Company. PetroChina stated that it will contribute its West Pipeline
Assets as capital, worth approximately RMB 20 billion after valuation (final
valuation is subject to its filing by China National Petroleum Corporation
with the authority concerned), and subscribe for registered capital in the JV
Company amounting to RMB 20 billion, representing 50% of registered capital of
the JV Company. The Full Research Report on PetroChina Co. Ltd. - including
full detailed breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.WSReports.com/r/full_research_report/d59c_PTR]

----

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