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When oil is cheap, buy these companies
Thursday, September 9, 2010 - 8:16am | 926The price of oil isn't the best indicator The exception to the rule Three companies to buy today and hold forever It's tempting to look at the price of a barrel of oil, or the price of a gallon of gasoline as a way to evaluate when oil companies are cheap...
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BP Deflects Some Rig Explosion Blame to Halliburton, Transocean
Thursday, September 9, 2010 - 7:57am | 174In its first investigative report regarding what caused the April 20 Deepwater Horizon oil rig explosion and subsequent massive oil spill, BP (NYSE: BP) said a combination of human, operational and engineering errors led the rig’s oil well to destabilize and the emergency blow-out preventer to fail...
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Nabors Completes Tender Offer for Superior Well Services Shares
Thursday, September 9, 2010 - 7:55am | 203Nabors Industries Ltd. (NYSE: NBR) today announced that stockholders of Superior Well Services, Inc. (Nasdaq: SWSI) have tendered 28,457,901 shares of common stock, representing approximately 92.4 percent of Superior Well Services' outstanding common stock, in Nabors' tender offer for all such...
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Nabors Establishes Previously Announced Credit Facility (NBR)
Wednesday, September 8, 2010 - 3:06pm | 87Nabors Industries Ltd. (NYSE: NBR) today announced that its wholly owned subsidiary, Nabors Industries, Inc., established the previously announced unsecured revolving credit facility in an aggregate principal amount of $700 million, with an accordion feature that permits additional commitments of...
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BP Shares Rise After Macondo Report
Wednesday, September 8, 2010 - 12:44pm | 200BP Plc (NYSE: BP) rose more than 3% on Wednesday, driving the energy sector higher. The company released the 193-page Macondo well report. The report indicated that several companies were responsible for the Gulf of Mexico oil spill, the biggest offshore oil spill in US history. The report cited...
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Company News for September 8, 2010 - Corporate Summary
Wednesday, September 8, 2010 - 9:39am | 780• Bristol-Meyers (NYSE: BMY) said it agreed to acquire ZymoGenetics (NASDAQ: ZGEN) for $9.75 per share, in a deal valued at 885 million • A Bloomberg report said Vodafone (NASDAQ: VOD) will sell its stake in China Mobile (NYSE: CHL) for $6.6 billion • Smithfield Foods (NYSE: SFD) posted inline...
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Nabors to Commence Senior Notes Offering (NBR)
Wednesday, September 8, 2010 - 8:24am | 143Nabors Industries Ltd. (NYSE: NBR) today announced that its wholly owned subsidiary, Nabors Industries, Inc., has commenced an offering of Senior Unsecured Notes. The Notes will be fully and unconditionally guaranteed by Nabors Industries Ltd. The proceeds are intended to be used to fund the...
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Company News for September 7, 2010 - Corporate Summary
Tuesday, September 7, 2010 - 9:33am | 833• Air Products & Chemicals (NYSE: APD) raised its offer for Airgas (NYSE: ARG) to $65.50 from $63.50 per share, equalling $5.5 billion • Oracle (NASDAQ: ORCL) announced the appointment of former Hewlett-Packard (NYSE: HPQ) CEO Mark Hurd as co-President • Goldman Sachs (NYSE: GS) added Oracle...
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Pritchard Capital's Morning Intelligence (BAS, CRZO, HAL, HNR, NOV, PDC, PTEN, RES, SPN)
Tuesday, September 7, 2010 - 8:48am | 213Pritchard Capital is out with its morning intelligence report. In the report Pritchard Capital covers, Basic Energy Services, Inc (NYSE: BAS), Carrizo Oil & Gas, Inc. (NASDAQ: CRZO), Halliburton Company (NYSE: HAL), Harvest Natural Resources, Inc. (NYSE: HNR), National-Oilwell Varco, Inc. (...
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Pritchard Capital Out With Oil Services Industry Update (FTI, HAL, PDE, RES, SPN)
Tuesday, September 7, 2010 - 8:35am | 144Pritchard Capital is out with its weekly report on the oil services sector. It's favorite ideas are FMC Technologies, Inc. (NYSE: FTI), Halliburton Company (NYSE: HAL), Pride International, Inc. (NYSE: PDE), RPC, Inc. (NYSE: RES) and Superior Energy Services, Inc. (NYSE: SPN). In the report,...
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Nabors' Credit Facility Approved - Analyst Blog
Friday, September 3, 2010 - 2:36pm | 536Nabors Industries Ltd. (NBR) announced that it has received the commitment letter regarding an unsecured revolving credit facility. The principal amount of the facility totals up to $700 million and will be valid for four years. With the help of an accordion feature that also forms a part of the...
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Nabors Receives Commitments for a $700 Million Unsecured Revolving Credit Facility
Thursday, September 2, 2010 - 4:10pm | 211Nabors Industries Ltd. (NYSE: NBR) today announced the receipt of commitment letters with respect to an unsecured revolving credit facility with an aggregate principal amount of up to $700 million. The term of the credit facility is expected to be four years. The facility is also expected to...
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Puts Purchased on Rowan Companies (RDC)
Thursday, September 2, 2010 - 12:06pm | 176Shares of Rowan Companies Inc. (NYSE: RDC) are lower on the session by 0.18%, currently trading at $27.97. The stock has been moving largely higher over the past two months and is now trading above the 50-day moving average. Options traders are buying protection on the name today. The September $...
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Pride & Seadrill Up On Merger Speculation (PDE, SDRL)
Thursday, September 2, 2010 - 10:47am | 120Shares of Seadrill Limited Ordinary Shares (NYSE: SDRL) and Pride International, Inc. (NYSE: PDE) are both gaining on heavier than normal volume. This comes on speculation that the two companies may be looking at a merger. Yesterday, Seadrill CEO John Fredriksen said that Seadrill was looking at...
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Pritchard Capital's Morning Intelligence (ES, USU, CPX, RDC, PDE, )
Thursday, September 2, 2010 - 8:55am | 153Pritchard Capital is out with its daily morning intelligence report. In the report, Pritchard covers USEC Inc. (NYSE: USU), EnergySolutions, Inc. (NYSE: ES), Complete Production Services, Inc. (NYSE: CPX), Rowan Companies, Inc. (NYSE: RDC), Pride International, Inc. (NYSE: PDE). In the report,...