Energy Weekly Notes: Anadarko, Exxon & Chevron

-14.52%
Downside
72.77
Market
62.20
Trefis
APC: Anadarko Petroleum logo
APC
Anadarko Petroleum

Energy stocks were hit by declining oil prices and falling investor sentiment last week as markets forecast waning demand from Europe. Baker Hughes released its monthly rig count report indicating a 10% decline in the rig use in Asia which could result in a downside to our services of oil field services stocks. Below we highlight some of the key events we covered in articles last week on Anadarko (NYSE:APC), Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX).

Anadarko, Exxon Mobil, Chevron

Anadarko Ups Reserve Estimates in Mozambique – Independent oil exploration and production company Anadarko Petroleum (NYSE:APC) today announced that it was raising its reserve estimates for its offshore fields in Mozambique. The company announced that resent results from its exploratory drilling had yielded positive results which led to ‘substantially increased’ prospects in the Offshore area 1 of Rovuma Basin. Anadarko has estimated that its fields in the African country hold 10 Tcf of natural gas.

Relevant Articles
  1. How Will Anadarko Perform In 2019?
  2. Andarko 4Q: Andarko To See Improved Earnings But Cash Flow May Face Headwinds
  3. Anadarko Has Been Trading At A 52-Week Low. Where Will It Head Going Into 2019?
  4. Higher Oil Output And Improved Commodity Prices Will Drive Anadarko’s 3Q’18 Results
  5. Ramp Up Of Oil Production Will Drive Anadarko’s Value In The Near Term
  6. Key Takeaways From Anadarko’s Second Quarter Results

Falling Oil Prices May Hit Exxon, Oil Majors Hard in Coming QuartersExxon Mobil (NYSE:XOM) and other vertically integrated oil majors such as Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP) and BP (NYSE:BP) may see their revenues decline in the next few quarters, as growing concerns over the slowing pace of the global recovery and production from Libya easing supply concerns have led to oil falling to $76 this week.

Chevron Enhances Oil Recovery Using Solar EnergyChevron (NYSE:CVX) launched a feasibility project this week to showcase the viability of using solar energy to enhance recovery from an old oil field. Chevron Technology Ventures (CTV) demonstrated the use of solar power to boil water into steam using around 7,600 mirrors to concentrate the sun’s energy over a solar boiler.

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