Chesapeake Energy Corporation (NYSE:CHK) shares skidded Thursday after the oil and gas company gave its outlook for production and spending in 2014. THE SPARK: Chesapeake said its total production should grow between 2 and 4 percent, meaning it expects to produce 680,000 to 695,000 barrels of oil equivalent per day. Excluding lost production from assets the company sold off, it said oil production will rise 8 to 12 percent, natural gas liquid production will increase 44 to 49 percent, and natural gas production is expected to grow 4 to 6 percent. Chesapeake Energy Corporation (NYSE:CHK) stock opened at $25.58 in last trading session, and closed at $24.41, trading in the range of $24.05 – $25.58. The stock showed a negative weekly performance of -9.53%.
Oil and natural gas exploration and production (E&P) firm Marathon Oil Corporation (NYSE:MRO) reported weak fourth quarter results due to lower price realizations and rising exploration costs. The Houston, Texas-based company announced adjusted earnings of 60 cents per share, below the Zacks Consensus Estimate of 74 cents. However, earnings increased from the fourth quarter 2012 level of 55 cents. Revenues at $3,294.0 million were down 22.2% year over year and below the Zacks Consensus Estimate of $3,534.0 million. Marathon Oil Corporation (NYSE:MRO) shares closed at $31.81 on last trade day, by losing -0.90%. Stock 52 week range is $29.47 – $38.18. Company’s market capitalization is $22.16 billion.
Noble Energy, Inc. (NYSE:NBL)has signed a pact with Australia-based Woodside Petroleum Ltd. (WPL.AU) to sell offshore Israel natural-gas licenses for over $1 billion in upfront payments and future shared revenue. Under the terms of the nonbinding pact, four companies, including Noble, are participating as sellers of their 25% interest in the licenses to Woodside. Noble Energy, Inc. (NYSE:NBL) stock advanced 2.56% and finished the last session at $62.61. The EPS of the stock remained 2.94. Company’s market capitalization is $22.60 billion.
Cabot Oil & Gas Corp. (NYSE:COG) had its price target upped by Socgen from $39.00 to $43.00 in a research note issued to investors on Tuesday, American Banking and Market News reports. The firm currently has a hold rating on the stock. Cabot Oil & Gas Corporation (NYSE:COG) stock opened at $40.51 in last trading session and closed at $40.26. The 52 week range of the stock is $26.22 – $41.78 and the day range was $40.17 – $40.92.