Statement on Court's Decision, Technical Updates, Commencement of Binding Open Season, and Senior Management Changes - Research Reports on BP, Vale, Kinder Morgan, Pioneer and Marathon
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NEW YORK, September 10, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding BP plc (NYSE: BP), Vale SA (NYSE: VALE), Kinder Morgan Inc. (NYSE: KMI), Pioneer Natural Resources (NYSE: PXD) and Marathon Petroleum Corp. (NYSE: MPC). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/6353-100free.
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BP plc Research Reports
On September 4, 2014, BP plc (BP) issued a statement showing disagreement with the decision taken by the U.S. District Court for the Eastern District of Louisiana, in relation to an accident and willful misconduct at the Macondo well. The Company plans to immediately file an appeal to the U.S. Court of Appeals for the Fifth Circuit. BP believes the finding that says the Company was grossly negligent with respect to the accident and that its activities at the Macondo well amounted to willful misconduct is not supported by the evidence at trial. According to the Company, the law is clear that proving gross negligence is a very high bar that was not met in this case. The Company stated that an impartial view of the record does not support the incorrect conclusion reached by the District Court. The Court has not yet ruled on the number of barrels spilled and no penalty has yet been determined. The court will hold additional proceedings in January 2015, to decide penalty under the Clean Water Act. The full research reports on BP are available to download free of charge at:
http://www.analystsreview.com/Sep-10-2014/BP/report.pdf
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Vale SA Research Reports
On September 5, 2014, shares in Vale SA (Vale) declined 1.09% to close the trading session at $12.68, underperforming the S&P 500 that moved up 0.49% over the same trading session. Shares in Vale opened the session at $12.76 and fluctuated between intra-day low of $12.40 and intra-day high of $12.79. A total of 41.80 million shares changed hands, above its 30-day average volume of 18.67 million shares. Moreover, the stock is trading below its 50-day and 200-day moving averages of $13.84 and $13.67, respectively. The full research reports on Vale are available to download free of charge at:
http://www.analystsreview.com/Sep-10-2014/VALE/report.pdf
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Kinder Morgan Inc. Research Reports
On September 4, 2014, Kinder Morgan Energy Partners, L.P. (Kinder Morgan Energy), a company whose general partner interest is owned by Kinder Morgan Inc. (Kinder Morgan), announced the launch of a binding open season to solicit commitments for the previously announced Utica To Ontario Pipeline Access (UTOPIA) project, which will provide opportunities to transport ethane and ethane-propane mixtures from the prolific Utica shale area. The Company stated that under the UTOPIA project, Kinder Morgan Cochin will develop, construct, own and operate a 240-mile, 12-inch diameter pipeline from Harrison County, Ohio, to Kinder Morgan's Cochin Pipeline near Riga, Michigan, where the Company would then move product eastward to Windsor, Ontario, Canada. Further, UTOPIA is initially expected to transport 50,000 barrels per day (bpd) of refined or fractionated natural gas liquids (NGLs), including ethane and propane. The capacity of UTOPIA can be further expanded to 75000 bpd. The Company expects the new pipeline to be operational by early 2018, subject to timely regulatory approvals and a successful open season. The full research reports on Kinder Morgan are available to download free of charge at:
http://www.analystsreview.com/Sep-10-2014/KMI/report.pdf
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Pioneer Natural Resources Research Reports
On September 2, 2014, Pioneer Natural Resources (Pioneer) announced changes in responsibilities for certain Executive Vice Presidents who are members of Pioneer's Management Committee. The Company stated that J.D. Hall, who previously held the position of Senior Vice President, South Texas Operations, has been named as the Executive Vice President, Southern Wolfcamp Operations. J.D. Hall will replace William F. Hannes, who is moving to a strategic advisory role as Senior Vice President and Special Advisor to the Management Committee. Further, Kenneth H. Sheffield, Jr., previously Senior Vice President, Operations and Engineering, has been named Executive Vice President, South Texas Operations. Pioneer stated that in his new role, Kenneth H. Sheffield will not only look after its Texas/Eagle Ford Shale assets, but will continue to look after the Corporate Engineering as well. The full research reports on Pioneer are available to download free of charge at:
http://www.analystsreview.com/Sep-10-2014/PXD/report.pdf
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Marathon Petroleum Corp. Research Reports
On September 5, 2014, Marathon Petroleum Corp.'s (Marathon Petroleum) stock gained 0.73% to end the trading session at $91.63, extending its gains from previous two trading sessions. Shares in Marathon Petroleum opened the session at $90.82 and oscillated in the range of $90.15 - $91.63, with a trading volume of 2.35 million shares. The stock has a 52-week high of $97.70 and a 52-week low of $61.32. Over the past three months, the stock has strengthened 4.24% compared to Dow Jones Industrial Average that gained 1.79% over the same period of time. At the end of day, the two-week period RSI reading came at 67.53, suggesting that the security is nearing the overbought territory. The full research reports on Marathon are available to download free of charge at:
http://www.analystsreview.com/Sep-10-2014/MPC/report.pdf
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