Energy Business Replay: Shell & Exxon Contain LEAKS In Nigeria, ATP Goes BANKRUPT
ConocoPhillips’ (NYSE:COP) natural gas exploration and appraisal campaign taking place offshore of northern Australia is again going forward as technical problems with well safety equipment were resolved, according to its partner Karoon Gas. The companies want to prove up a sufficient amount of gas to support the expansion of the Darwin gas-export plant or the building of a new export facility.
Don’t Miss: Are GE Shares ATTRACTIVE at $21?
Royal Dutch Shell (NYSE:RDSA) (NYSE:RDSB) reports that it has contained oil that was leaked from a failed pump within a flowstation on Nembe Creek in Nigeria, but local residents dispute this, saying that a spill has spread to mangrove swamps. Meanwhile, ExxonMobil Corporation (NYSE:XOM) is looking into a separate spill close to its facility off of Nigeria’s southeast coast, but so far no assessment has been given.
The exploration and production firm Forest Oil Corporation’s (NYSE:FST) late afternoon share spike is credited to chatter regarding potential takeover interest. The company has been slammed by a string of earnings and revenue misses, along with defections among its top management.
ATP Oil & Gas Corporation (NASDAQ:ATPG) has filed for bankruptcy in Texas, affirming rumors that emerged last week as the firm filed to delay its 10-Q and was also seeking debtor-in-possession financing.
Don’t Miss: Are Central Banks Still Hoarding Gold?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.