Hints and tips:
...the drilling division of Abu Dhabi’s state oil company, marking the first time the Gulf producer has allowed an international partner to buy into one of its services businesses The two deals come after Transocean...
...This week, Transocean followed by striking a deal to acquire Norway’s Songa Offshore for $3.4bn....
...Chesapeake Energy shares climbed 9.6 per cent to $4.58 and Transocean rose 9 per cent to $12.84....
...Transocean shares rose 4.6 per cent to $9.52, Murphy Oil shares climbed 2.2 per cent to $26.65 and Noble Energy shares climbed 1.8 per cent to $33.62, even after ceding some of their earlier gains....
...Murphy Oil, Transocean, Chesapeake fell 6.6 per cent, 6.7 per cent and 6.1 per cent respectively....
...Transocean climbed 7.5 per cent to $11.31 and National Oilwell Varco was up 3.9 per cent to $35.18. Patches of strength appeared among US retailers....
...Oil and gas companies within the S&P 500 have declined on eight of the past 10 trading days, including 9 per cent-plus drops for Transocean, Marathon Oil, Diamond Offshore Drilling and Murphy Oil....
...Transocean, which operates offshore oil rigs, jumped 5.1 per cent to $8.65. Meanwhile, exploration and production company Marathon Oil added 8.7 per cent to $8.03....
...That leaves the largest rig owners — SeaDrill, Transocean, and low cost provider Diamond Offshore, with $22bn in gross debt between them — watching nervously as newly restructured companies offer customers...
...Transocean, an offshore rig operator, skidded 3.3 per cent to $10.52. Industrials, which are also seen as sensitive to economic fluctuations, suffered heavy early selling....
...Shares in Southwestern Energy jumped 19.24 per cent to $8.80, while Transocean shares climbed 7.05 per cent to $9.72....
...Transocean, the offshore oil rig operator, has logged the biggest price drop since the beginning of the bull market....
...Noble and Transocean have had their credit ratings cut from investment grade to junk status as a result of the downturn....
...Transocean, one of the largest offshore drilling contractors, relocated from the US to the Cayman Islands in 1999, and then to Switzerland in 2008....
...Marathon Oil was the biggest loser, falling 10.25 per cent to $8.14, shares in Chesapeake Energy declined 4.04 per cent to $3.56 while shares in Transocean dropped 6.45 per cent to $9.86....
...Transocean, an oil rig operator, slid 7.56 per cent to $9.05. ExxonMobil, an oil major, dropped 2.23 per cent to $74.59 despite reporting a slimmer than expected decline in quarterly profits....
...The oil price rout has also lopped $700m from Mr Icahn’s $940m investment in Transocean, the oil rig operator, and $600m from his $1.1bn bet on Freeport-McMoran, the copper miner....
...Ensco, Transocean and Diamond Offshore were comfortably among the top 10 decliners on the S&P 500 on Thursday as analysts at Barclays warned that the spending on which drillers rely is not going to pick...
...His representative Sam Merksamer, an analyst who graduated from college in 2002, will add the largest US insurer by market capitalisation to his portfolio of directorships, including Transocean and Hertz...
...Transocean, one of the biggest offshore drilling contractors, jumped 7.3 per cent to $15.76....
...Among the leaders in the energy space was Transocean, an oil-rig operator. Its shares rose 1.8 per cent to $14.37, helping slice its year-to-date loss to 21.6 per cent....
...For example, Transocean’s Deepwater Champion rig is under contract to ExxonMobil to work in the Gulf of Mexico at a rate of $395,000 per day from November to January, down 41 per cent compared to its previous...
...Pioneer Natural Resources, the copper and gold explorer, producer Freeport-McMoRan and Transocean Ltd, the drilling contractor, were among the steepest fallers on the S&P 500, falling 3.71 per cent to $133.05...
...The decline for Transocean is in contrast to the better recent performance from oil and gas producers, which have been buoyed by the more stable oil price....
International Edition