An important catalyst is unfolding in the energy trade right now. What must you know?» Read More
KUALA LUMPUR, Nov 1- Malaysia's UMW Oil& Gas Corp climbed as much as 11 percent in its market debut, as investors bank on the company's close ties with state oil firm Petroliam Nasional Bhd to provide it with a steady stream of revenue for years to come.
SAN FRANCISCO/ KHOBAR, Saudi Arabia, Oct 27- G lobal energy service giants are banking on a boom in Saudi oil and gas drilling over the next few years to revive profits that are being squeezed by overcapacity in the North American market.
Oct 24- Diamond Offshore Drilling Inc posted a higher-than-expected quarterly profit, but delays in getting rigs out of the shipyard weighed on its prospects for 2014, and its stock fell 3 percent.
Oct 24- Diamond Offshore Drilling Inc posted a quarterly profit that beat analysts' estimates due to higher utilization of rigs used in shallow and ultra-deepwater drilling. Bigger rivals Noble Corp and Ensco Plc both reported higher-than-expected quarterly profits as rates paid for their rigs improved.
Oct 16- Noble Corp, an offshore drilling contractor now breaking itself up in an effort to boost its value, reported a larger-than-expected rise in quarterly profit on Wednesday as its rigs were busier and the rates paid for them improved. Net profit rose to $282 million, or $1.10 per share, from $115 million, or 45 cents per share, a year earlier.
ANCHORAGE, Alaska, Sept 6- MersShell has agreed to pay $1.1 million for air-quality violations from the vessels it used to drill two oil-exploration wells in Arctic waters off Alaska last year, federal regulators said.
Aug 7- Transocean Ltd, owner of the world's largest offshore drilling fleet, on Wednesday reported an increase in adjusted quarterly profit as rates paid for its rigs rose along with demand for them, and the company kept costs contained.
In a note to clients, Goldman Sachs strategist David J. Kostin on Wednesday identified what he thinks are the top 40 most undervalued stocks.
*Second-quarter profit $1.33/ share vs est $1.24/ share. July 25- Rig maintenance and the delayed arrival of two new rigs for Diamond Offshore Drilling Inc overshadowed higher-than-expected second-quarter profits, and the stock fell 3.5 percent.
Check out which companies are making headlines after the bell Tuesday:
Check out which companies are making headlines after the bell Wednesday:
Earnings season kicks into high gear in the week ahead. Plus, at least 10 Fed speeches. How risk-averse are investors? Oh, this is going to put them to the test. Rest up.
First, a soft ISM, now a soft ADP and soft ISM Services. Weaker economic data and global growth fears weigh on markets.
A flood of earnings reports, including major technology and industrial companies, could make or break the stock market’s surprise January rally in the week ahead.
Noble has performed well, and yesterday option traders were targeting the offshore-drilling contractor.
Shell may have moved an oil rig that ran aground off Alaska last week partly to avoid millions of dollars in taxes, U.S. Rep. Ed Markey said, raising even more questions about the oil company's decision on the timing of the move.
An oil drilling rig owned by Royal Dutch Shell ran aground in Alaska after drifting in stormy weather, highlighting the serious risks of working in an offshore region where some in the industry see huge potential.
Third-quarter net income for the offshore drilling contractor fell to $114.8 million, or 45 cents per share, from $135.3 million, or 53 cents per share, in the year-ago quarter. Jud Bailey, an analyst with International Strategy and Investment Group LLC, said operating costs of $449 million were above his estimates.
Offshore drilling contractor Noble Corp. said Wednesday that its third-quarter net income fell 15 percent because of delays for ships and rigs in the Gulf of Mexico and offshore Brazil. The Zug, Switzerland, company's net income totaled $114.8 million, or 45 cents per share, in the three-month period that ended Sept. 30.
*FBR cuts Noble Corp price target to $48 from $55. Reuters Station users, click. 1568. Reuters Station users, click. 4899.