CNOOC Ltd. (CEO) expects to sign a deal with Norway’s StatoilHydro ASA (STO) soon to buy stakes in some deepwater exploration blocks in the U.S. Gulf of Mexico (GoM). StatoilHydro is putting five prospects on the market, out of its more than 400 leases in the U.S. GoM. The company had acquired these assets, with 100% working interest, in 2007 and 2008 lease sale. This deal could mark the introduction of China's foray into the U.S. GoM. The GoM remains one of the most abundant areas of the world for oil discoveries, with billions of barrels of crude believed to be trapped beneath the seabed. Chinese companies are pursuing assets acquisitions abroad to cope with the country’s increasing demand for oil and gas. But they are facing difficulties in tying up deals partly because the oil-rich countries want greater control over their resources. We ...

Calgary-based Enbridge Inc. (ENB) recently announced that it reached an agreement with subsidiaries of U.S. oil major Chevron Corp. (CVX), Norway’s StatoilHydro ASA (STO) and Japan’s Marubeni Corp. to construct and operate a 40-mile, 20-inch oil pipeline from the proposed Big Foot ultra deepwater development in the Gulf of Mexico.   The planned conduit is estimated to cost approximately $250 million and will transport about 100,000 barrels of oil per day to a subsea connection on existing deepwater pipeline infrastructure. It will be located approximately 170 miles south of the Louisiana coast and reach depths of up to 5,900 feet below water.   The proposed Big Foot pipeline will complement Enbridge’s previously announced plans to build the Walker Ridge offshore natural gas pipeline in the area for $500 million. Thus the company has committed a total of $750 million in pipelines to service oil and gas exploration

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Recently, Norway-based energy firm StatoilHydro ASA (STO) gained a permit from the country’s top petroleum resources regulatory agency, the Norwegian Petroleum Directorate (NPD), to drill wellbore 25/2-17 in production license 442. The company plans to drill "wildcat" wells (those drilled in an area where no current oil or gas production exists) on the license using semi-submersible facility Ocean Vanguard. StatoilHydro has a 40% operated interest in production license 442, which was awarded in June 2007. Well 25/2-17 is located about 20 kilometers east of the company’s Frigg field in the central part of the North Sea and is the first well to be drilled on the production license. We believe that the 25/2-17 well, if successful and rendered economically feasible, will further consolidate StatoilHydro’s leading position in the Norwegian Continental Shelf (NCS). The company’s current production from NCS is expected to decrease somewhat in the short ...

Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

3Com Corp (COMS) 51job Inc (JOBS) Actions Semiconductor Co Ltd (ACTS) Aeropostale Inc (ARO) Companhia de Bebidas das Americas (ABV) American Italian Pasta Co (AIPC) American States Water Co (AWR) Amkor Technology Inc (AMKR) Anworth Mortgage Asset Corp (ANH) Asbury Automotive Group Inc (ABG) Ashland Inc (ASH) Associated British Foods Plc (ASBFY) AudioCodes Ltd (AUDC) Baidu Inc (BIDU) Banco Santander SA (STD) Bank of Montreal (BMO) Barnes & ...

Chicago, IL – August 4, 2009- Kevin Matras explains why monitoring stocks is as important as picking them. Highlighted stocks in this week’s article include Airgas Inc. (NYSE: ARG), CPFL Energia S.A. (NYSE: CPL), Synnex Corporation (NYSE: SNX), StatoilHydro ASA (NYSE: STO) and Toro Company (NYSE: TTC). Click here for the full story exclusively on Zacks.com: http://at.zacks.com /?id=5528.

Screen of the Week written by Kevin Matras of Zacks Investment Research:

After a fantastic July, I thought now would be a good time to talk about paying attention to your portfolio; keeping an eye on your holdings, monitoring your watchlists and pulling profits and getting rid of losers or underperformers.

It's ironic, but during great times like these when it seems like all of your stocks are going up, investors can form bad habits or get lazy. Even bad decisions sometimes can get rewarded in a bull

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  Earlier today, Norway-based oil and gas company StatoilHydro ASA (STO)announced that it has signed a purchase agreement with Canadian company, World Point Terminals, for the possible acquisition of its Bahamian operations for $263.2 million. Those facilities include the South Riding Point crude oil storage terminal and World Point’s 50% interest in the Freepoint tug boat business, both located on Grand Bahama Island in the Bahamas.

The deal builds on the leasing contract StatoilHydro has had at the terminal since 1993 as per which the Norwegian company currently has access to around 40% of the terminal's capacity. The transaction is conditional on the extension of this lease with the Bahamian government, a satisfactory due diligence procedure, besides necessary regulatory approvals in the Bahamas. The companies hope to conclude the deal by year-end. 

 This asset acquisition is seen as a strategic move by StatoilHydro to support its global upstream growth plans. Additionally, the

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StatoilHydro ASA (STO) is a Norway-based major international integrated oil and gas company. The company emerged in its present shape following the acquisition of Norsk Hydro's (NHY) oil and gas business, which was completed on October 1, 2007.We are maintaining our Hold recommendation on StatoilHydro ADRs following the company's weak first quarter results, reflecting weak oil prices, higher taxes and unfavorable currency movements. We continue to believe that the positives in the Statoil story -- strong finances and a relatively improved asset base following the Norsk Hydro acquisition -- are more than offset by its substantial exposure to the mature and high-cost Norwegian Continental Shelf basin, particularly in the current tentative commodity-price environment.There is no dearth of attractive investment opportunities in the integrated space, and we would prefer to stick with the super-majors -- Exxon (XOM) and Chevron (CVX) -- for ...

The U.S. news media has convinced many investors that oil consumption is falling because of the global recession. While that may be true, it’s a disservice to millions of investors because production is declining at a pace that’s actually three times faster. And that suggests higher oil and gasoline prices in coming months - perhaps as much as 50% - 70% higher, or more - particularly if a U.S. economic recovery is truly in the offing. To really see what I’m talking about, let’s start with a close look at consumption. I’m asked about this frequently in my global wanderings, most recently at the Las Vegas Money Show last week. For months we’ve been hearing about a drop in global demand. It’s a popular story and one that sounds credible: After all, it seems logical to assume that during economic chaos, consumers and businesses alike will ...

Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

Aaron Rents Inc (RNT) Alliance One International Inc (AOI) Casey's General Stores Inc (CASY) DepoMed Inc (DEPO) FiberTower Corp (FTWR) Grand Canyon Education Inc (LOPE) Hansen Natural Corp (HANS) Jarden Corp (JAH) Nile Therapeutics Inc (NLTX) Odyssey HealthCare Inc (ODSY) Oncolytics Biotech Inc (ONCY) PokerTek Inc (PTEK) Radio One Inc (ROIAK) StatoilHydro ASA (STO) PT Telekomunikasi Indonesia (TLK) US Geothermal Inc (HTM) Watson Pharmaceuticals Inc (WPI) View the entire Zacks #1 Rank List.

Zacks Investment Research

Want to know what the price of a barrel of oil will be in eight years? Exactly $119.50 a barrel. There’s no shortage of pundits predicting where oil prices are heading. And every day seems to bring new reasons to change the forecast – a resurgent dollar, Americans curtailing their driving habits, oil supply reports… The list goes on. But the guys who really know the future of oil prices are those sitting right in the driver’s seat – oil producers. Every day, they make bets about the direction of petro prices on the futures market. And right now, they’re telling you – in no uncertain terms – oil’s got a floor price of $100 a barrel for years to come. “Oil-flation” is here to stay, but this free report reveals four ways you can beat it starting now… The Future Price of Oil – And Why You don’t ...