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Both U.S. political parties now have members who oppose China’s Cnooc Limited’s (NYSE:CEO) proposed purchase of Nexen Inc. (NYSE:NXY), as Senator James Inhofe (R-OK), who was a leading critic of Cnooc’s 2005 attempt to acquire Unocal, now says that the current agreement should be heavily scrutinized by the Committee On Foreign Investments in the United States, which is an interagency board that evaluates deals for national security implications.
Don’t Miss: Gold and Silver Hold Steady Amid QE Chatter.
Shares of Exterran Holdings, Inc. (NYSE:EXH) head straight up on the news that the firm divested some previously nationalized Venezuelan assets for approximately $442 million, for which it was paid an initial $177 million in cash at closing and should receive the remaining principal balance in periodic cash payments through the third quarter of 2016.
Investors like Chesapeake Energy Corporation’s (NYSE:CHK) plans to divest another $5 billion in assets in the next 18 months, driving shares almost to the top of Tuesday’s S&P leader board. However, some analysts remain of the opinion that the company has become too dependent on asset sales to gain liquidity, with “a flood of acreage deals available [and] weaker oil and gas pricing than before.”
Goodrich Petroleum Corporation (NYSE:GDP) shares finished Tuesday trading as a top gainer thanks to investor enthusiasm that a planned divestiture of its South Henderson field in Texas and increasing oil production might help the firm, which is bogged down with a debt that is larger than its market value. Goodrich predicts its third quarter average oil volume at between 3,200 and 3,600 barrels per day, which marks a quarter-over-quarter increase of 14 to 29 percent for the period.
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