4 Energy Stock Stories to Close Out the Trading Week

ConocoPhillips (NYSE:COP): Closing price $58.39

The oil major intends to drill as many as two exploration wells in remote Arctic area in 2014, and is undeterred by several setbacks suffered there by rival Royal Dutch Shell, said a Conoco official on Thursday. The company is taking aim at a prospect named Devils Paw in the Chukchi Sea, according to Mike Faust, the Chukchi program manager, in a comment at the National Oceanic and Atmospheric Administration’s annual Arctic Open Water Meeting. Faust added that ConocoPhillips’ exploration plan is under review by the Bureau of Ocean Energy Management;  the company expects to submit additional information next week.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

COP

InterOil Corporation (NYSE:IOC): Closing price $77.68

The Papua New Guinea Minister for Petroleum and Energy William Duma was surprised at recent media reports that the government has okayed a liquid natural gas project proposed by InterOil Corp in the Gulf. Duma remarked that “The government has not given any final approval for InterOil to proceed with a 3.8 million ton LNG project. The project is still at petroleum retention license stage and the government has only approved further ‘without prejudice’ negotiations between InterOil and the state on a 50-50 proposal by InterOil.” The company said that Chief Executive Phil Mulacek was travelling and was not available for comments.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

IOC

Holly Energy Partners (NYSE:HEP): Closing price $43.92

Holly Energy says that it is going forward with the expansion of its crude oil transportation system in southeastern New Mexico, responding to increased crude oil production in that area. The project has been approved by the company’s board and has already obtained the necessary shipper support. The expansion will give shippers additional pipeline takeaway capacity to both common carrier pipeline stations for transportation to major crude oil markets, or to HollyFrontiers New Mexico refining facilities.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

HEP

Enterprise Products Partners (NYSE:EPD): Closing price $57.75

The company has begun operations at its expanded export facility to load propane, butane and isobutane. Located on the Houston Ship Channel, the marine terminal complex is owned by Oiltanking Partners. Enterprise and Oiltanking have significantly broadened the scope of their long-term terminal service agreement which runs through 2026. Presently, Enterprise is studying an additional expansion that would boost the partnership’s propane export capacity up to 10 million barrels per month and could be in service as early as the beginning of 2015.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

EPD

Don’t Miss: How Much More Will the Deepwater Oil Spill Cost BP?

More Articles About:   , , ,