Energy Biz Recap: Dejour Shares Pop, Cnooc and Nexen News
In their attempt to block construction on the southern portion of TransCanada Corporation’s (NYSE:TRP) Keystone pipeline in Texas, protesters are in 80-foot tree platforms. Thus far they have not caused any delay in the work, but they are in the planned route of crews who are clearing foliage and trees for the pipeline.
Shares of Dejour Energy (AMEX:DEJ) pop as the company reports that the first well at its 72 percent-owned Kokopelli project in the Piceance Basin, Colorado, drilled 8,440 feet and encountered formation quality and gas column thickness. The 2500 feet of gross gas column, depth and composition of the formations encountered were as anticipated.
Today’s Cnooc Limited (NYSE:CEO) and Nexen, Inc. (NYSE:NXY) news consists of word that the Canadian Natural Resource Chairman Murray Edwards believes that the acquisition will likely win approval, commenting that “We clearly need foreign capital in the resource sector” and that there are other oil sands assets more strategic than those of Nexen’s.
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