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HES

Hess Corp.

$61.84

0.39 (0.63%)

, CEO

CNOOC

$128.77

2.29 (1.81%)

08:37
01/12/17
01/12
08:37
01/12/17
08:37

Hess announces new oil discovery offshore Guyana

Hess Corporation (HES) announced results from the Payara-1 well offshore Guyana, which is the second oil discovery on the Stabroek Block following the world-class Liza oil discovery in 2015. The Payara-1 well, located approximately 10 miles northwest of the Liza discovery, was drilled by Esso Exploration and Production Guyana Limited, and encountered more than 95 feet of high-quality, oil-bearing sandstone reservoirs. The well was safely drilled to a depth of 18,080 feet in 6,660 feet of water. Drilling on Payara began on Nov. 12 with initial total depth reached on Dec. 2. Two sidetracks were subsequently drilled, and a production test is planned to further evaluate the discovery. Appraisal drilling is planned beginning later this year to determine the full resource potential of the Payara discovery. In addition to the Payara discovery, the Liza-3 appraisal well, which was completed in November 2016, identified an additional high quality, deeper reservoir directly below the Liza Field, which is estimated to contain between 100-150 million barrels of oil equivalent. This additional resource is expected to be developed in conjunction with the Liza discovery. The Stabroek Block is 6.6 million acres. Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Limited holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited (CEO) holds 25 percent interest.

HES

Hess Corp.

$61.84

0.39 (0.63%)

CEO

CNOOC

$128.77

2.29 (1.81%)

  • 25

    Jan

HES Hess Corp.
$61.84

0.39 (0.63%)

09/12/16
09/12/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hess Corp. (HES) initiated with an Accumulate at KLR Group. 2. Verifone (PAY) initiated with a Buy at BTIG. 3. VF Corp. (VFC) resumed with a Market Perform at Wells Fargo. 4. Demand Media (DMD) initiated with a Buy at Craig-Hallum. 5. Owens & Minor (OMI) reinitiated with a Neutral at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/08/16
JPMS
12/08/16
UPGRADE
Target $65
JPMS
Overweight
Hess Corp. upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Arun Jayaram upgraded Hess Corp. to Overweight saying the company can post upside 2017 and 2018 oil growth versus expectations as it boosts Bakken activity levels. The analyst raised his price target for the shares to $65 from $58.
12/08/16
12/08/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. AMD (AMD) upgraded two notches to Buy from Underperform at BofA/Merrill with analyst Vivek Arya indicating that PC gaming and AI/Deep learning Industries are still in the early stages and AMD is a vendor that can challenge incumbents Intel (INTC) and NVIDIA (NVDA) for market share. 2. lululemon (LULU) upgraded to Buy from Sell at Evercore ISI, to Buy from Neutral at Mizuho, and to Neutral from Underperform at BofA/Merrill. 3. Hess Corp. (HES) upgraded to Overweight from Neutral at JPMorgan with analyst Arun Jayaram saying the company can post upside 2017 and 2018 oil growth versus expectations as it boosts Bakken activity levels. 4. Juniper (JNPR) upgraded to Buy from Neutral at Nomura with analyst Jeffrey Kvaal saying Juniper's new QFX family of data center switches is poised to grow rapidly in 2017 and total switching unit growth could be upwards of 12% in 2017. 5. Scotts Miracle-Gro (SMG) upgraded to Buy from Underperform at BofA/Merrill with analyst Christopher Carey saying Scotts has become a leader in hydroponics, a category primed to see significant growth for years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/17
BOFA
01/03/17
NO CHANGE
BOFA
BofA/Merrill's Top 10 Q1 Ideas
BofA/Merrill Strategy group named its Top 10 US ideas for Q1 2017. The selections are more heavily weighted towards companies that will benefit from increased fiscal stimulus, a pro-business agenda, and tax reform. They are Buy rated Aetna (AET), Dover (DOV), General Dynamics (GD), Hess Corp. (HES), MGM Resorts (MGM), Norfolk Southern (NSC), SVB Financial (SIVB), and Texas Instruments (TXN), and Underperform rated Consolidated Edison (ED) and TripAdvisor (TRIP).
CEO CNOOC
$128.77

2.29 (1.81%)

05/17/16
MZHO
05/17/16
UPGRADE
MZHO
Buy
CNOOC upgraded to Buy from Neutral at Mizuho
05/18/16
NOMU
05/18/16
UPGRADE
NOMU
Buy
CNOOC upgraded to Buy from Neutral at Nomura
05/23/16
DBAB
05/23/16
INITIATION
DBAB
Hold
CNOOC reinstated with a Hold at Deutsche Bank
Deutsche Bank analyst Johnson Wan reinstated CNOOC with a Hold rating and HKD 9.72 price target.
08/08/16
FBCO
08/08/16
DOWNGRADE
FBCO
Underperform
CNOOC downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse downgraded CNOOC to Underperform given higher capex assumptions and less room for cost cuts.

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ORCL

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ORCL

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NQ

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