New Government Strategies, Tender Offers, Acquisitions and Stock Price Updates
- Research Report on Chevron, Anadarko, EOG Resources, Devon Energy and
NEW YORK, December 4, 2013
NEW YORK, December 4, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Analysts' Corner announced new research reports highlighting Chevron
Corporation (NYSE: CVX),
Anadarko Petroleum Corporation (NYSE: APC), EOG Resources Inc (NYSE: EOG),
Devon Energy Corp (NYSE: DVN) and Chesapeake Energy Corporation (NYSE: CHK).
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 November 28, 2013, Reuters reported that the Indonesian energy ministry
will not renew Chevron Corporations' (Chevron) oil contract at a small
oilfield in Sumatra and will hand over management of the Siak oilfield, which
produces around 4,000 barrels per day, to state-owned oil firm PERTAMINA.
According to the Reuters report, this transfer is part of the Indonesian
government's efforts to curb foreign ownership and grab more revenue from its
natural resources. "While Chevron is disappointed that the production sharing
contract for the Siak block will not be extended, the company respects the
decision," Chevron said in a statement reported by Reuters. The Full Research
Report on Chevron Corporation - including full detailed breakdown, analyst
ratings and price targets - is available to download free of charge at:
Anadarko Petroleum Corporation Research Report
On November 29, 2013, Anadarko Petroleum Corporation's (Anadarko) stock rose
0.25% to $88.82 at the end of trading. Anadarko's stocks dipped 1.88% over the
past three trading days while the Dow Jones Industrial Average rose 0.09%
during the same period. The Full Research Report on Anadarko Petroleum
Corporation - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
EOG Resources Inc Research Report
On November 25, 2013, EOG Resources Inc (EOG) announced that is has received
an unsolicited "mini-tender" offer by TRC Capital Corporation (TRC Capital).
The Company informed that EOG received a copy of the offering documents, dated
November 15, 2013, pursuant to which TRC Capital has offered to purchase for
cash upto 1 million shares or 0.37% of EOG's outstanding common stock.
According to the Company, the offer price of $162.75 per share is more than 4%
below the $169.67 closing price of EOG's common stock on November 14, 2013,
the day prior to commencement of the offer. EOG stated that it does not
endorse TRC Capital's offer and recommends that stockholders reject the offer
and not tender their shares. The Company also recommends that stockholders who
have already tendered shares in the offer withdraw their shares by providing
written notice as described in TRC Capital's offering documents prior to the
expiration of the offer, currently scheduled for 12:01 a.m., New York City
time, Tuesday, December 17, 2013. The Full Research Report on EOG Resources
Inc - including full detailed breakdown, analyst ratings and price targets -
is available to download free of charge at:
Devon Energy Corp Research Report
On November 20, 2013, Devon Energy Corp (Devon Energy) announced that it has
reached a definitive agreement to acquire GeoSouthern Energy's assets in the
Eagle Ford oil play for $6 billion in cash. "With this transaction, we have
secured a premier acreage position in the very best part of the world-class
Eagle Ford oil play. This acquisition enhances our already strong North
American portfolio by adding another low-risk, light oil asset that provides
outstanding well economics and self-funded growth," said John Richels, Devon's
President and CEO. "Furthermore, this transaction is expected to be
immediately accretive to virtually every metric, including cash flow per
debt-adjusted share." The Company stated that the acquired assets include
Eagle Ford's current production of 53,000 barrels of oil equivalent (BOE) per
day and 82, 000 net acres with at least 1,200 undrilled locations. The Full
Research Report on Devon Energy Corp - including full detailed breakdown,
analyst ratings and price targets - is available to download free of charge
Chesapeake Energy Corporation Research Report
On November 29, 2013, Chesapeake Energy Corporation's (Chesapeake) stock
gained 0.83% to end trading at $26.87 per share. Over the previous three
trading sessions, Chesapeake's shares increased 2.28% while the Dow Jones
Industrial Average gained 0.09% that same period. The Full Research Report on
Chesapeake Energy Corporation - including full detailed breakdown, analyst
ratings and price targets - is available to download free of charge at:
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