Energy Business Recap: Eni’s Ghana Discovery, Nexen Shareholders Vote
These were Thursday’s top stories:
It’s reported that Eni S.p.A. (NYSE:E) has made the first important oil discovery in an offshore block in Ghana that has the potential for commercial development. The find occurred in the Offshore Cape Three Points block, which Eni says provides confirmation of its importance in terms of presence of oil, along with natural gas and condensates.
Nexen, Inc. (NYSE:NXY) shareholders voted on Thursday in favor of the proposed $15 billion takeover by China’s Cnooc Limited (NYSE:CEO), with 99 percent of the votes cast in the affirmative. However, politicians and bureaucrats pose a far greater risk, as the question is now dividing Canada because of its potential to encourage the sale of Canadian oil and gas resources to government-owned enterprises from China.
Shares of Lone Pine Resources Inc. (NYSE:LPR) popped on no apparent news. Early this week, the firm announced that it is reviewing its asset portfolio to explore options to decrease debt, improve liquidity and also grow the value of its assets.
Pacific Ethanol, Inc. (NASDAQ:PEIX) shares tumbled on the news of its public offering of common stock and warrants. Thus far the size and prices have not been released.
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