Industry

Scorching Hot Basic Materials Tape: Exxon Mobil Corporation (XOM), Kinder Morgan, Inc. (KMI)

Exxon Mobil Corporation (XOM) ended last trading session with a change of -0.23 percent. It trades at an average volume of 12.18M shares versus 9.42M shares recorded at the end of last trading session. The share price of $81.42 is at a distance of 4.05 percent from its 52-week low and down -12.51 percent versus its peak. The company has a market cap of $337.86B and currently has 4.15B shares outstanding. The share price is currently -0.86 percent versus its SMA20, -3.09 percent versus its SMA50, and -5.4 percent versus its SMA200. The stock has a weekly performance of -1.7 percent and is -8.97 percent year-to-date as of the recent close.

On March 9, 2017 Exxon Mobil Corporation (XOM) and Eni have signed a sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25 percent indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni currently holds a 50 percent indirect share in the block through a 71.4 percent stake in Eni East Africa, which owns 70 percent of the Area 4 concession.

Kinder Morgan, Inc. (KMI) recently recorded 0.05 percent change and currently at $21.51 is 31.66 percent away from its 52-week low and down -6.85 percent versus its peak. It has a past 5-day performance of -1.15 percent and trades at an average volume of 12.23M shares. The stock has a 1-month performance of -3.89 percent and is 4.45 percent year-to-date as of the recent close. There were about 2.21B shares outstanding which made its market cap $47.51B. The share price is currently -1.15 percent versus its SMA20, -1.79 percent versus its SMA50, and 3.56 percent versus its SMA200.

On March 3, 2017 Kinder Morgan, Inc. (KMI) announced that investment funds managed by EIG Global Energy Partners (EIG) have become a 49 percent joint venture participant in Elba Liquefaction Company, L.L.C. (ELC) which will own 10 liquefaction units and other ancillary equipment to be constructed as part of the Elba Liquefaction Project at Kinder Morgan’s existing Southern LNG Company, L.L.C. Elba Island LNG facility near Savannah, Georgia. To acquire its membership interest, EIG has made an upfront cash payment of approximately $385 million, consisting of: a $215 million reimbursement to KMI for EIG’s 49 percent share of prior ELC capital expenditures, excluding capitalized interest; and a payment of approximately $170 million in excess of capital expenditures in consideration of the value created by KMI in developing the project to this stage.

 

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