NEW YORK, September 13, 2013 /PRNewswire/ --
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Today, Analysts' Corner announced new research reports highlighting Marathon Oil Corporation (NYSE: MRO), LyondellBasell Industries NV (NYSE: LYB), ConocoPhillips (NYSE: COP), Continental Resources Inc. (NYSE: CLR), and Occidental Petroleum Corporation (NYSE: OXY). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Marathon Oil Corporation Research Report
On September 10, 2013, Marathon Oil Corporation (Marathon Oil) announced that the Company will repurchase $1 billion of its common stock in two phases, pursuant to its outstanding share repurchase authorization. The Company stated that the initial phase of $500 million in common stock repurchases has been substantially completed, and the second $500 million phase is expected to be complete in 2014. Additionally, the Company also announced its plan to sell 10% working interest in the Production Sharing Contract and Joint Operating Agreement in Block 32 offshore Angola to Sonangol E.P., for a consideration of c.$590 million, excluding any purchase price adjustments. Lee M. Tillman, Marathon Oil's President and CEO, said, "With the anticipated sale of our interest in Angola Block 32, we have now completed or agreed to divestitures totaling approximately $3.5 billion, surpassing the $3 billion upper end of our stated three-year target." The Full Research Report on Marathon Oil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/5a8d_MRO]
LyondellBasell Industries NV Research Report
On September 10, 2013, LyondellBasell Industries NV (LyondellBasell) announced that its Management Board has received an approval from the Supervisory Board to declare an interim dividend of $0.50 per share. According to the Company, the dividend will be paid on October 7, 2013, to shareholders of record as on September 23, 2013 (ex-dividend date: September 19, 2013). The Company further informed that the dividend declaration is subject to the adoption of a resolution by LyondellBasell's Management, expected to occur on September 23, 2013. Additionally, the Company informed that in August 2013, LyondellBasell received a determination from tax authorities in the Netherlands and the UK that the Company is solely a UK tax resident effective July 1, 2013, and hence, it will no longer withhold any non-U.S. tax on its dividend payments to shareholders. The Full Research Report on LyondellBasell Industries NV - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/dc7c_LYB]
ConocoPhillips Research Report
On September 3, 2013, ConocoPhillips (ConocoPhillips) announced the ruling of an international arbitration Tribunal in connection to its arbitration proceedings against Venezuela. According to the Company, the International Centre for Settlement Disputes (ICSID), an arm of the World Bank ruled that the Country has unlawfully expropriated ConocoPhillips' significant oil investments in the Petrozuata and Hamaca heavy crude oil projects and the offshore Corocoro development project. The Company further added that in doing so, the Tribunal confirmed its jurisdiction over this dispute. ConocoPhillips expects that the arbitration process will continue for a period of time in order to determine compensation owed for ConocoPhillips' substantial investments. Janet Langford Kelly, Senior Vice President, Legal, General Counsel and Corporate Secretary, at ConocoPhillips, said, "We welcome this decision by the Tribunal. This ruling sends a clear message that countries cannot expropriate their investments without fair compensation." The Full Research Report on ConocoPhillips - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/19f9_COP]
Continental Resources Inc. Research Report
On September 10, 2013, Continental Resources Inc. (Continental Resources) issued its operating and financial guidance for full-year 2014. The Company informed that it expects to increase total crude oil and natural gas production in the range of 26% to 32% in 2014, while the average daily production in 2014 is expected to be in the range of 170,000 to 180,000 barrels of oil equivalent (Boe) per day, with an exit rate for December 2014 of approximately 200,000 Boe per day. Continental also expects total production for 2014 to be 70% crude oil. Lastly, the Company's 2014 budget reflects 400 net well completions (1,090 gross) with 94% located in the Company's two key operating areas: the Bakken in North Dakota and Montana and the South Central Oklahoma Oil Province (SCOOP). W. F. "Rick" Bott, President and COO at Continental Resources, said, "Finally, Continental's growth plan for 2014 continues the focus on capital discipline that has been a key part of our 2013 results, and the Company has set a new goal to reduce average operated Bakken completed well costs in a range of 3% to 5% by the end of 2014." The Full Research Report on Continental Resources Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/6db9_CLR]
Occidental Petroleum Corporation Research Report
On September 10, 2013, Occidental Petroleum Corporation (Occidental) announced the appointment of Marcia E. Backus as the new Vice President and General Counsel, effective October 1, 2013. According to the Company, Ms. Backus is currently a partner at Vinson & Elkins in Houston, Texas, and heads the firm's Energy Transactions/Projects Practice Group. Occidental's President and CEO, Stephen I. Chazen, said, "Marcia Backus is one of the preeminent energy lawyers in the country. We have worked closely with her on multiple oil and gas transactions over many years. Her extensive industry knowledge and experience and her familiarity with Oxy and its legal department make her an outstanding addition to our leadership team." The Full Research Report on Occidental Petroleum Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/8cf8_OXY]
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