4 Energy Stock Stories For Weekend Perusal

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Royal Dutch Shell (NYSE:RDSA): Closing price $64.05

Lebanon has selected 46 energy firms to bid for offshore drilling rights, including majors like Exxon Mobil Corporation and Chevron Corporation, Royal Dutch Shell, and state-controlled big names such as Petrobras  and Petronas. All these companies qualified as operators on leased offshore acreage. All told, some 52 companies had applied to participate;  offers in the first licensing round will be accepted May 2.

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RDSA

Transocean (NYSE:RIG): Closing price $48.53

Transocean has issued its comprehensive Fleet Status Report, which gives the current status and contract information for its entire fleet of offshore drilling rigs. The value of new contracts or extensions since the March 14 fleet update summary stands at roughly $1.2 billion. Additionlly, the newly built, ultra-deepwater drillship, Deepwater Asgard, was awarded a three-year contract with a major integrated international oil cfirm for work offshore Indonesia at a dayrate of $600,000.  The contract should begin in the first quarter of 2014, following shipyard delivery and customer acceptance, and will add to an estimated backlog of $657 million, excluding mobilization.

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RIG

ConocoPhillips (NYSE:COP): Closing price $57.44

ConocoPhillips intends to add to its investment on North Slope fields, by bringing an additional rig to the Kuparuk field this spring and working with co-owners to pay for a new drill site on the Kuparuk River field, according to a Wednesday announcement. The company is also commencing the regulatory and permitting stage, and starting the engineering for the Greater Moose’s Tooth division in the National Petroleum Reserve of Alaska.

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COP

Noble Corporation (NYSE:NE): Closing price $36.03

Noble announced on Thursday that Royal Dutch Shell was in negotiations to extend its contract to employ the Noble Discoverer beyond February 2014, underlining its long-term plans for the offshore Arctic. The Discoverer is currently being repaired in South Korea, after Shell postponed its 2013 drilling plans for offshore Alaska following a problematic foray there in 2012. However, Noble’s Senior Vice President for marketing and contracts Roger Hunt said that recent moves to go forward with drilling in the Russian Arctic by Exxon Mobil Corporation and Rosneft have  underscored the potential of the overall region.

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NE

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