NEW YORK, January 29, 2015 /PRNewswire/ --
Moments ago, Analysts Review released new research updates concerning several important developing situations including CNOOC (NYSE: CEO), Cobalt (NYSE: CIE), Comstock (NYSE: CRK), Concho (NYSE: CXO), and ConocoPhillips (NYSE: COP). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
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Today's update concerns the following companies:
Full PDF Download Links (you may have to copy and paste the following links into your browser):
CEO Research Report: ( http://get.analystsreview.com/pdf/?c=CNOOC&d=29-Jan-2015&s=CEO ),
CIE Research Report: ( http://get.analystsreview.com/pdf/?c=Cobalt&d=29-Jan-2015&s=CIE ),
CRK Research Report: ( http://get.analystsreview.com/pdf/?c=Comstock&d=29-Jan-2015&s=CRK ),
CXO Research Report: ( http://get.analystsreview.com/pdf/?c=Concho&d=29-Jan-2015&s=CXO ),
COP Research Report: ( http://get.analystsreview.com/pdf/?c=ConocoPhillips&d=29-Jan-2015&s=COP ).
Analyst Update: Oil and Natural Gas Discoveries, Scheduled Earnings, Capital Programs, andBoard Appointments
Reviewed by: Rohit Tuli, CFA®
The U.S. stocks fell on Wednesday, weighed down by sharp decline in the energy stocks following further decline in the oil prices. Investors were also seen fleeing to the U.S. government bonds on Wednesday, sending the yield on 10-year bonds to their lowest level since May 2013, after Federal Reserve said that it will remain "patient" while deciding when to raise the interest rates as inflation remained below forecasts. The U.S. Fed's statement came after first policy-setting meeting of the year. The Dow Jones Industrial Average fell 1.13% to close at 17,191.37, the S&P 500 lost 1.35% to close at 2,002.16, and the Nasdaq Composite declined 0.93% to end at 4,637.99. Meanwhile, European markets witnessed a choppy session on Wednesday as major indexes came under pressure amid continued slump in Greek stocks. In Asia, markets ended on a mixed note as investors remained cautious following weak cues from the overseas markets on the back of disappointing U.S. earnings and durable-goods orders data.
CNOOC Limited (CNOOC) successfully made a new mid-to-large sized natural gas discovery Lingshui 25-1 on the independent deepwater exploration. The discovery well Lingshui 25-1-1 was tested to produce about 35.6 million cubic feet of natural gas and 395 barrels of oil per day.
Cobalt International Energy, Inc. (Cobalt) announced a large oil discovery at its Anchor prospect in the deepwater U.S. Gulf of Mexico. This is Cobalt's fourth significant subsalt discovery in the deepwater Gulf of Mexico. Cobalt owns a 20% working interest in the Anchor Unit.
Comstock Resources, Inc. (Comstock) to hold its fourth quarter 2014 earnings conference call on Tuesday, February 10, 2015, at 10:00 a.m. CT. The Company also announced that it has budgeted $307 million for its drilling and completion activities scheduled in 2015.
Concho Resources Inc. (Concho) announced an updated 2015 capital program of $2.0 billion, resulting from a sharp fall in commodity prices. With this capital budget, the Company expects to generate 16% to 20% year-over-year production growth in 2015.
ConocoPhillips announced the election of John Faraci, former Chairman and CEO of International Paper Company, and Arjun Murti, former partner at Goldman Sachs, to its Board of Directors.
The election of Faraci and Murti increases the total number of ConocoPhillips directors to 12. Faraci and Murti will serve on the Audit and Finance Committee of the ConocoPhillips board.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
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