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CNOOC Finally Gets Nexen – Analyst Blog

Tue, 26 Feb 2013 15:20:01 -0500

CNOOC Ltd. has finally wrapped up the $15.1 billion acquisition of Canada's Nexen Inc.

CNOOC Completes Acquisition of Nexen for $15.1B

Mon, 25 Feb 2013 22:15:50 -0500

CNOOC (NYSE: CEO) announced today that it has completed its acquisition of Nexen (NYSE: NXY). Total consideration of approximately US$15.1 billion has been paid for Nexen's common and preferred shares. (Logo: http://www.prnasia.com/sa/200701301659.jpg ) Mr. Wang Yilin, Chairman of CNOOC Limited said, "The Company is delighted to

Another Piece of Chesapeake Going to China

Mon, 25 Feb 2013 02:45:00 -0500

DailyFinance.com: Chesapeake Energy Inc. (NYSE: CHK) parted with about $13 billion in assets last year in an effort to reduce the company's massive debt burden. The sell-off for the new year is just getting started, and it has rolled out with a bang. Reuters reports ... Read more

Hot Option Plays: Commodity Prices Under Pressure

Wed, 20 Feb 2013 15:17:51 -0500

Cusick’s Corner 02-20-2013 Commodity prices are under pressure this morning. We have been waiting for Gold, GLD, to break support of $1600, and today we have that break which has placed universal stress in the commodity complex today. This has not had an impact in the equities thus far; the S&Ps are holding. Traders are [...]

13-F Alert: Loeb's Third Point Sells Apple

Thu, 14 Feb 2013 17:14:08 -0500

Daniel Loeb's super-successful hedge fund firm Third Point LLC released its 13-F filing after the market close on Thursday, detailing the fund's long equity positions. The first obvious change in the portfolio was the fund's liquidation of its Apple (NASDAQ: AAPL) position. Yesterday, Leon Cooperman's Omega Advisors also

CNOOC Clears Final Hurdle for Nexen – Analyst Blog

Wed, 13 Feb 2013 15:40:01 -0500

CNOOC Ltd. has cleared the final obstacle for its acquisition of the Calgary, Alberta-based energy producer Nexen Inc. The deal price is approximately $15.1 billion in cash.

U.S. Greenlights Cnooc Acquisition of Nexen

Tue, 12 Feb 2013 08:20:00 -0500

DailyFinance.com: The Committee on Foreign Investment in the U.S. (CFIUS) has given its approval to the $15.1 billion acquisition of Nexen Inc. (NYSE: NXY) by China's Cnooc Ltd. (NYSE: CEO). The Canadian government approved the deal last December, and today's ... Read more

Nexen Annoucnes All Approvals Received from CNOOC Deal

Tue, 12 Feb 2013 08:00:35 -0500

Nexen Inc. (NYSE: NXY) announced today that Nexen has received approval from the Committee on Foreign Investment in the United States (CFIUS) with respect to the proposed acquisition of Nexen by CNOOC Limited, and now has

CNOOC Sets $12-$14B as ’13 Budget – Analyst Blog

Mon, 04 Feb 2013 15:20:01 -0500

CNOOC Ltd has proposed to invest around $12 billion to $14 billion in 2013 to attain an average annual output growth of 6% to 10% from 2011 to 2015.

CNOOC, Nexen Extend Deadline – Analyst Blog

Mon, 28 Jan 2013 15:10:01 -0500

Nexen Inc. and CNOOC Ltd. have jointly agreed to extend the deadline for the closing of the proposed $15.1 billion deal by 30 days.

CNOOC, Nexen Agree to Extend 'Outside Date' of Arrangement Agreement to March 2, 2013

Sun, 27 Jan 2013 17:49:46 -0500

Nexen (NYSE: NXY) announced today that CNOOC (NYSE: CEO) and Nexen have mutually agreed to extend the "Outside Date" of the Arrangement Agreement by 30 days to March 2, 2013. The Outside Date was originally January 31, 2013. Either party may, except in certain circumstances, extend the

CNOOC Upped to Outperform – Analyst Blog

Wed, 23 Jan 2013 17:00:01 -0500

On Jan 14, 2013, we upgraded the Chinese energy giant CNOOC Ltd. to Outperform.

UPDATE: Canaccord Genuity Upgrades Nexen to Hold on CNOOC Deal

Tue, 22 Jan 2013 09:08:37 -0500

Canaccord Genuity upgraded Nexen (NYSE: NXY) from Sell to Hold and maintained a $27.50 price target.

Canaccord Genuity said, "Assuming a late Q1/13 close of the deal, the annualized arb spread return of 15% supports an upgrade to HOLD on NXY. Our prior SELL rating was based on expected

(CVX) Oil & Gas Stock Outlook – January 2013 – Industry Outlook

Fri, 18 Jan 2013 09:39:00 -0500

OUTLOOK Crude Oil High U.S. crude and fuel stocks, worries about North America and Europe’s growth...

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Sinopec to Acquire Parent Assets – Analyst Blog

Thu, 10 Jan 2013 14:48:01 -0500

China Petroleum & Chemical Corp., aka Sinopec, intends to acquire international upstream oil and gas assets from its parent company, China Petrochemical Corp., or Sinopec Group.

Ice Dampens CNOOC Bohai Bay – Analyst Blog

Tue, 08 Jan 2013 11:30:01 -0500

China National Offshore Oil Corporation, the parent company of CNOOC Ltd. , said that its production at its northern part of Bohai Bay has been affected by icy weather conditions.

(CEO) CNOOC Limited Oil Project Duo Comes Online

Wed, 02 Jan 2013 17:28:36 -0500

Chinese energy giant CNOOC Limited’s (CEO) oilfield projects — the Panyu 4-2/5-1 oilfield...

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CNOOC Oil Project Duo Comes Online – Analyst Blog

Mon, 31 Dec 2012 17:00:01 -0500

CNOOC Limited's oilfield projects - the Panyu 4-2/5-1 oilfield adjustment project and the Panyu 4-2/5-1 oilfield project - have commenced production.

No holiday cheer for energy stocks

Mon, 24 Dec 2012 08:00:36 -0500

Energy stocks did not keep up with the rest of the U.S. equities market this year, and there’s not much hope 2013 will be better. But M&A activity seen heating up in 2013.

China’s M&A march fueled by plenty of cash

Tue, 11 Dec 2012 06:00:09 -0500

Chinese companies embark on a buying spree, snapping up strategic resources and technology in three large deals in recent days.

Mid-Afternoon Market Update: Markets Continue to Rise, Diamond Foods Falls

Mon, 10 Dec 2012 15:26:20 -0500

Toward the end of trading Monday, the Dow traded up 0.21 percent to 13,182.78 while the NASDAQ rose 0.24 percent to 2,985.24. The S&P also rose, increasing 0.06 percent to 1,418.99.

Top Headline Concerns over the fiscal cliff came to the forefront once again this morning as investors continued to voice frustration

Nexen: One and Done

Mon, 10 Dec 2012 15:17:01 -0500

The Canadian government's decision to approve China's government-owned energy company, Cnooc's (NYSE: CEO) takeover of Nexen (NYSE: NXY) puts an end to vague policies regarding the acquisition of Canada's strategic assets by foreign governments.

Canadian Prime Minister Stephen Harper approved both the Cnooc takeover of Nexen

Benzinga's Volume Movers

Mon, 10 Dec 2012 10:22:18 -0500

Nexen (NYSE: NXY) shares moved up 14.42% to $26.91 at 10:20 am. The volume of Nexen shares traded was 1622% higher than normal. Canada approved CNOOC Ltd (NYSE: CEO) offer to acquire Nexen.

Uni-Pixel (NASDAQ: UNXL) shares climbed 23.27% to $12.02. The volume of

Monday’s biggest gaining and declining stocks

Mon, 10 Dec 2012 08:18:47 -0500

Intermec, Zogenix and Nexen are all on the move in preopen trading, while Apple, CME and Tripadvisor are trending on Twitter.

US Stock Futures Down; Gold Futures Rise

Mon, 10 Dec 2012 06:01:21 -0500

US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dropped 32 points to 13,111.00 and S&P 500 index futures fell 4.20 points to 1,411.80. Nasdaq 100 futures declined 7.25 points to 2,628.75.

US stocks closed mixed on Friday, with the Dow Jones Industrial Average gaining 0.62%

Stocks To Watch For December 10, 2012

Mon, 10 Dec 2012 01:55:22 -0500

Some of the stocks that may grab investor focus today are:

Wall Street expects John Wiley & Sons (NYSE: JW-A) to report its Q2 earnings at $0.82 per share on revenue of $447.49 million. John Wiley shares dropped 0.30% to close at $42.72 on Friday.

Canada approved CNOOC Ltd (NYSE:

Benzinga's M&A Chatter for Friday December 7, 2012

Sat, 08 Dec 2012 13:17:04 -0500

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday December 7, 2012:

CNOOC's $15B Acquisition of Nexen Approved in Canada

The Deal: Nexen (NYSE: NXY) announced Friday that under the terms of the Investment Canada Act, the Honourable Christian Paradis, Minister of Industry, has

Canada opens a pipeline to China

Fri, 07 Dec 2012 18:24:32 -0500

CNOOC-Nexen deal approved by Ottawa as trade benefits trump national security concerns.

Nexen surges after hours as Canada OKs deal

Fri, 07 Dec 2012 17:29:03 -0500

Shares of Nexen rally Friday evening following reports that a bid to purchase the independent energy producer has been approved by the Canadian government.

Hot Option Plays: VIX Low, Tempers Reward After Hours

Tue, 27 Nov 2012 17:18:03 -0500

Cusick’s Corner 11-27-2012 Still wrapped around the open — but the bonds did bounce into the close as comments from Senator Reid suggested that there has been little change in the fiscal discussions. The Energies did falter into the close while Crude did finish under the uptrend, $87.5, which has consistently held up to this [...]

Hot Option Plays: Stock Market Averages Lower Despite Positive Data Midday

Tue, 27 Nov 2012 14:17:52 -0500

Cusick’s Corner 11-27-2012 Midday The data came in line with expectations and most notably Consumers Confidence was stable, this really points more towards employment than actual consumption. The continual media coverage of the “Fiscal Cliff” could start to wear on the psyche of the consumer/investor but at this stage it has not. Overnight there was [...]

TOTAL to Divest Minor Usan Stake – Analyst Blog

Tue, 20 Nov 2012 17:00:01 -0500

TOTAL SA to divest a minor oil field stake to China-based Sinopec Corporation for $2.5 billion.

CNOOC Accepts Nexen Takeover Clauses – Analyst Blog

Tue, 20 Nov 2012 11:00:01 -0500

CNOOC Ltd. accepted the clauses laid down by the Canadian government for its acquisition of the Calgary, Alberta-based energy producer Nexen Inc.

CNOOC Hits Gas Again in Yinggehai – Analyst Blog

Mon, 12 Nov 2012 14:15:01 -0500

CNOOC Ltd. has come across a big gas field in the Yinggehai basin in the South China Sea, as reported by the chairman of its parent company - China National Offshore Oil Company.

CNOOC 3Q Sales Rise – Analyst Blog

Fri, 26 Oct 2012 12:20:01 -0400

CNOOC Ltd. reported third quarter 2012 total revenue of 48.96 billion yuan ($7.73 billion), up almost 5.3% from the year-earlier level.

Mixed 3Q for Nexen – Analyst Blog

Fri, 26 Oct 2012 09:50:01 -0400

Nexen Inc.'s third-quarter 2012 income from continuing operations of 11 Canadian cents (11 US cents per share) missed the Zacks Consensus Estimate of 20 US cents.

Oil and gas M&A activity picks up

Wed, 24 Oct 2012 15:56:30 -0400

Energy companies on the prowl make 2011 one of the best in recent memory for mergers and acquisitions in the oil and gas sector, with Marathon, BP, and Exxon Mobil the latest to announce some big plans.

Hot Option Plays: Action Perking Up Midday

Mon, 22 Oct 2012 15:17:57 -0400

Cusick’s Corner 10-22-2012 Midday Friday’s action did two things, elevated selling to a level not seen in months and flagged a sector that will be testing the metal of the market, Financials (XLF). Financials have been the catalyst to the downside over the last two sessions so continued weakness could make it hard for the [...]

Monday’s biggest gaining and declining stocks

Mon, 22 Oct 2012 07:00:37 -0400

Philips and Nexen were among Monday’s biggest moving stocks, while Caterpillar, Yahoo and Peabody Energy were among the top trending tickers.

Canadian nat-gas firm will try to revive sale

Sun, 21 Oct 2012 14:55:15 -0400

Progress Energy Resources Corp. says it will try to overcome the objections that led the Canadian government to unexpectedly reject a $5.2 billion buyout deal with a Malaysian state company.

Petronas rejection may hurt Canada bids

Sat, 20 Oct 2012 15:18:59 -0400

Despite saying it needs about $650 billion of investment in its energy sector, Canada’s rejection of a Malaysian bid for one of its natural-gas companies may spell trouble for more foreign investments in the country.

Nexen Misses Maintenance Deadline – Analyst Blog

Thu, 18 Oct 2012 17:25:01 -0400

Nexen Inc. has missed the deadline for the completion of maintenance work at the Buzzard oil field in the North Sea.

CNOOC’s Arm Completes Exxon Deal – Analyst Blog

Mon, 01 Oct 2012 10:30:01 -0400

Bridas Corp. completed the acquisition of ExxonMobil Corporation's Campana refinery in Argentina and filling stations in South America.

CNOOC Gets Nexen’s Nod – Analyst Blog

Mon, 24 Sep 2012 16:00:01 -0400

CNOOC Ltd.'s bid to acquire the Canadian energy producer Nexen Inc. for approximately $15.1 billion in cash has successfully cleared one barrier with the approval by Nexen shareholders.

Exxon, Cnooc’s appetite for ‘proven’ oil

Thu, 20 Sep 2012 17:12:43 -0400

In the search for more oil, some of the world’s biggest energy companies are letting the little guys do the prospecting. Expect more deals.

FIRB Approves CNOOC-Exoma Deal – Analyst Blog

Thu, 20 Sep 2012 11:30:01 -0400

China National Offshore Oil Corporation -parent company of CNOOC Ltd. - has received the approval of Australia's Foreign Investment Review Board to acquire an interest in Australia's Exoma Energy .

Canadian stocks down as energy issues sag

Tue, 18 Sep 2012 14:29:39 -0400

Canadian stocks fall Tuesday, with pressure from the energy group as crude prices continue to move lower following a sharp decline in the previous session.

Nexen Upgraded to Neutral – Analyst Blog

Thu, 13 Sep 2012 09:45:01 -0400

We have upgraded our recommendation on Nexen Inc. to Neutral from Underperform.

China-Canada bank merger may hint at Nexen deal

Tue, 11 Sep 2012 13:31:15 -0400

Canada is still waiting to see what happens with a stalled bank deal with China as the Harper government gets ready to revamp its own official policy on foreign takeovers.

Gold, Silver, Mining Stocks: Breakout Time, Not Bubble Time

Fri, 31 Aug 2012 15:04:30 -0400

The Chinese ideograph for crisis is represented by the sign for danger joined together with the symbol for opportunity. Admittedly, for over a year and a half precious metals investors have been going through a time for testing of our essential position in wealth in the earth equities and bullion. Investors were experiencing pain [...]