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BP

BP

$36.75

0.42 (1.16%)

06:04
08/08/17
08/08
06:04
08/08/17
06:04

BP makes discovery in Mancos Shale

BP announced it has brought online a highly productive natural gas well in the Mancos Shale, highlighting the potential of the New Mexico field to be a significant new source of U.S. natural gas supply. Early production rates at the NEBU 602 Com 1H well in San Juan County are the highest achieved in the past 14 years within the San Juan Basin, a large oil and gas producing area spanning southwest Colorado and northeast New Mexico that includes the Mancos Shale. The well achieved an average 30-day initial production rate of 12.9 million cubic feet per day. The well test took place on assets BP acquired in late 2015, which expanded the company's existing position in the San Juan Basin and provided improved access to the Mancos Shale. "We are delighted with the initial production rate of this well," said Dave Lawler, CEO of BP's U.S. Lower 48 onshore business. "This result supports our strategic view that significant resource potential exists in the San Juan Basin, and gives us confidence to pursue additional development of the Mancos Shale, which we believe could become one of the leading shale plays in the U.S." BP Lower 48 expects to open a new headquarters office in Denver in 2018 that will be closer to the majority of its operated oil and natural gas production assets and proved reserves in the Rocky Mountain region.

BP BP
$36.75

0.42 (1.16%)

08/07/17
08/07/17
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. Deere (DE) upgraded to Conviction Buy from Buy at Goldman Sachs. 2. Chemours (CC) upgraded to Neutral from Sell at UBS with analyst John Roberts saying Chemours' execution has disproved his prior concerns. 3. BP (BP) upgraded to Overweight from Neutral at Piper Jaffray with analyst Guy Baber saying the company's cash flow generation is in the early stages of a "multi-year positive inflection" while Macondo headwinds are subsiding. 4. L3 Technologies (LLL) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Nosh Poponak saying he favors increased exposure to Defense given the current industry cycle position, geopolitics, and Department of Defense budget dynamics. 5. Illumina (ILMN) upgraded to Buy from Hold at Canaccord with analyst Mark Massaro saying he sees a strong upgrade cycle for NovaSeq beginning in the tird quarter and lasting for three years. He believes we remain in the early innings on major waves of cancer growth and expects the continuation of robust growth of direct to consumer products, such as 23andMe, ancestry.com and now Helix. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/17
PIPR
08/07/17
UPGRADE
Target $42
PIPR
Overweight
BP upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Guy Baber upgraded BP to Overweight and raised his price target for the shares to $42 from $38. The company's cash flow generation is in the early stages of a "multi-year positive inflection" while Macondo headwinds are subsiding, Barber tells investors in a research note. He expects BP's "outsized dividend yield" to normalize lower as confidence in the cash cycle improves. BP closed Friday up 19c to $36.33.
07/26/17
SOCG
07/26/17
DOWNGRADE
SOCG
Hold
BP downgraded to Hold from Buy at Societe Generale
Societe Generale analyst Irene Himona downgraded BP to Hold due to higher relative valuation, lower ROACE, and lower organic free cash flow yield versus the sector.
07/11/17
BERN
07/11/17
NO CHANGE
BERN
Oil price forecast cut at Bernstein
Bernstein analysts lowered their 2017 and 2018 oil price forecasts to $50 per barrel for both years. As reasons for the drop, the firm cited higher U.s. shale efficiency, their belief that elevated production levels will last longer than previously expected, and their belief that OPEC cuts will be insufficient to counter increased production by Libya, Iran and Nigeria. Publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).

TODAY'S FREE FLY STORIES

PKX

Posco

$81.58

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SYX

Systemax

$36.61

-2.79 (-7.08%)

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PAGS

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-3.8003 (-11.82%)

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$22.86

0.89 (4.05%)

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UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$10.48

0.83 (8.61%)

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COTV

Cotiviti Holdings

$44.00

4.11 (10.30%)

09:47
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TRNS

Transcat

$20.50

(0.00%)

09:42
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Conference/Events
Transcat management to meet with Roth Capital »

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  • 25

    Jun

LVS

Las Vegas Sands

$80.53

(0.00%)

, FXI

iShares China Large-Cap ETF

$45.65

(0.00%)

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Options
Unusually active option classes on open June 19th »

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LVS

Las Vegas Sands

$80.53

(0.00%)

FXI

iShares China Large-Cap ETF

$45.65

(0.00%)

DBX

Dropbox

$41.98

(0.00%)

JD

JD.com

$43.75

(0.00%)

ROKU

Roku

$44.92

(0.00%)

DIA

Diamonds Fund ETF

$249.72

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SLV

iShares Silver Trust

$15.52

(0.00%)

UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$9.65

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BA

Boeing

$354.79

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AAPL

Apple

$188.76

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  • 10

    Sep

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General news
Treasury Option Action: a call diagonal spread »

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Conference/Events
Senate Health, Ed, Labor & Pensions Committee to hold a hearing »

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PLG

Platinum Group

$0.10

(0.00%)

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Platinum Group, Capricorn Municipality collaborate on water supply management »

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SMH

Market Vectors Semiconductor

$108.93

(0.00%)

09:34
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Technical Analysis
Technical Take: Market Vectors Semiconductor falls sharply on trade war concerns »

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IPG

Interpublic Group

$23.63

(0.00%)

09:33
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BLNK

Blink Charging

$5.49

(0.00%)

09:32
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Blink Charging announces cooperation agreement with Israel's YSB »

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FMCC

Freddie Mac

$0.00

(0.00%)

, FNMA

Fannie Mae

$0.00

(0.00%)

09:31
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09:31
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09:31
Conference/Events
Cowen financial services analyst to hold an analyst/industry conference call »

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FMCC

Freddie Mac

$0.00

(0.00%)

FNMA

Fannie Mae

$0.00

(0.00%)

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CNK

Cinemark

$36.17

(0.00%)

09:31
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NTRS

Northern Trust

$107.12

(0.00%)

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EXPE

Expedia

$125.23

(0.00%)

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JD

JD.com

$43.75

(0.00%)

, GOOG

Alphabet

$1,173.63

(0.00%)

09:27
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Recommendations
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JD

JD.com

$43.75

(0.00%)

GOOG

Alphabet

$1,173.63

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GOOGL

Alphabet Class A

$1,183.98

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TCEHY

Tencent

$0.00

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WMT

Walmart

$83.09

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BIDU

Baidu

$268.97

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VIPS

Vipshop

$11.67

(0.00%)

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  • 10

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  • 28

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AGS

PlayAGS

$25.90

(0.00%)

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09:25
06/19/18
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Conference/Events
FBN Securities technology analyst to hold an analyst/industry conference call »

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MKSI

MKS Instruments

$102.90

(0.00%)

09:25
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  • 19

    Jun

HIW

Highwoods Properties

$48.67

(0.00%)

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  • 20

    Jun

GSM

Ferroglobe

$9.15

(0.00%)

, BSRC

BioSolar

$0.00

(0.00%)

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Ferroglobe

$9.15

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BSRC

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OMC

Omnicom

$75.55

(0.00%)

09:22
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Initiation
Omnicom initiated  »

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