NEW YORK, NY / ACCESSWIRE / January 20, 2017 / Oil Prices received a boost Thursday after the International Energy Agency's (IES) monthly report signaled the Organization of the Petroleum Exporting Countries' (OPEC) previously announced production cuts were on track. The IEA reported OPEC crude production declined 320,000 barrels a day to 33.09 million barrels a day in December. OPEC themselves reported a decline of 221,000 barrels a day in December. IEA also stated that steeper declines could be seen in January. Today's Reports on Bonanza Creek Energy Inc. (NYSE: BCEI) and Kinder Morgan Inc. (NYSE: KMI).
Register with us now for your free membership and gain access to our latest research reports at: RDInvesting.com
"Early indications suggest a deeper OPEC reduction may be under way for January, as Saudi Arabia and its neighbors enforce supply cuts," the IEA said.
Bonanza Creek Energy's shares spiked 9.20 percent to close at $2.73 a share Thursday. The stock traded between $2.43 and $2.76 on volume of 3.34 million shares traded. On January 17th, the company announced that it has received an unsolicited inquiry from regarding a possible transaction from Bill Barrett Corporation. Bonanza's assets and operations are concentrated primarily in the Rocky Mountains in the Wattenberg Field, focused on the Niobrara and Codell formations, and in southern Arkansas, focused on oily Cotton Valley sands. The Company reported average daily production of 21.0 MBoe per day for the third quarter of 2016, a decrease of 10 percent sequentially and a decrease of 28 percent from same quarter a year ago.
Kinder Morgan's shares gained 0.13 percent to close at $22.47 a share Thursday. The stock traded between $21.86 and $22.75 on volume of 16.32 million shares traded. The company reported a net profit attributable to shareholders of $170 million, or $0.08 per share, for the fourth quarter of 2016, compared to a loss of $721 million, or $0.32 per share, in the fourth quarter of 2015, which included an impairment charge of $1.15 billion. Revenues totaled $3.39 billion for the fourth quarter, down from revenues of $3.64 billion a year ago and short of average analysts' estimates of $3.54 billion, according to Thomson Reuters I/B/E/S. The company also announced quarterly cash dividend of $0.125 payable on Feb. 15, 2017, to common shareholders of record as of the close of business on Feb. 1, 2017.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.