5 Energy Stocks on Watch

Ivanhoe Energy Inc. (USA) (NASDAQ: IVAN) yesterday announced a significant gas discovery at Sunwing’s Yixin-2 well in Southwest China. The gas from the well flowed at rates of up to 13 million cubic feet per day, and averaged 9 to 10 million cubic feet per day during the initial 24-hour test period. Ivanhoe focuses on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary, patented heavy to light upgrading process. Exxon Mobil Corporation (NYSE: XOM) recently announced the completion of an expansion of carbon dioxide capture plant. The expanded plant will help reduce greenhouse gas emissions and enhance oil production in the United States. The expansion provides for the plant the capacity to capture approximately 365 million cubic feet per day of carbon dioxide from the gas streams. Exxon Mobil manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Chevron Corporation (NYSE: CVX) recently submitted expert analysis from a leading forensic specialist demonstrating that many of the signatures on the document purporting to authorize the lawsuit against Chevron in Lago Agrio, Ecuador, were forged. This newly uncovered evidence of forgery and fraud makes the lawsuit being tainted with corruption and required termination. Chevron engages in fully integrated petroleum operations, chemicals operations, mining operations, power generation and energy services through its subsidiaries. Occidental Petroleum Corporation (NYSE: OXY) recently announced the divestiture of its Argentine oil and gas operations for after-tax proceeds of approximately $2.5 billion to a subsidiary of China Petrochemical Corporation. It also purchased oil and gas properties in South Texas and North Dakota for about $3.2 billion. Additionally, it has increased its General Partner ownership in Plains All-American to approximately 35%; and it has agreed to acquire the remaining 50% joint venture interest in the Elk Hills Power Plant. These arrangements are expected to improve efficiency and lower operating costs at Oxy's Elk Hills business unit and report a gain on the sale of assets. Occidental operates through three business segments including oil and gas segment, chemical segment, and midstream, marketing and other segment. Devon Energy Corporation (NYSE: DVN) recently announced that its Canadian heavy oil volumes have been impacted due to outages on the Enbridge pipeline system. As a result, the company's production has been decreased by approximately 10,000 barrels per day. This decrease is expected to continue through year-end reducing the company's expected fourth quarter Canadian oil volumes by roughly 300,000 barrels. This represents one-half of one percent of Devon's total expected company-wide production for the fourth quarter and could affect its financials. Devon engages in exploration, development and production of natural gas and oil. This corporate profile is provided for information purposes only and should not be used as the basis for any investment decision. We are neither licensed nor qualified to provide investment advice. We were not paid, nor do we hold a position in these stocks. We reserve the right to buy or sell IVAN, XOM, CVX, OXY and DVN at any time after this post.
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