Energy News: First Solar, Inc. (FSLR), Chesapeake Energy Corporation (CHK), Exxon Mobil Corporation (XOM)

Editor’s Note: Related tickers: First Solar, Inc. (NASDAQ:FSLR), Exxon Mobil Corporation (NYSE:XOM), Chesapeake Energy Corporation (NYSE:CHK), Chevron Corporation (NYSE:CVX)

First Solar Stock and Solar ETFs Are Hot (Wall Street Sector Selector)
The event was caused by a massive amount of short-covering in First Solar, Inc. (NASDAQ:FSLR) stock after the company issued impressive 2013 guidance, with full-year earnings expected between $4.00 and $4.50 a share on sales of between $3.8 billion and $4 billion. Analysts had been expecting to see earnings guidance of $3.51 a share in 2013 on sales of approximately $3.1 billion. Trading in First Solar stock was halted on the Nasdaq exchange during Tuesday’s session, in accordance with the guidelines on triggered circuit breakers.

First Solar, Inc. (NASDAQ:FSLR)Credit: First Solar, Inc. (NASDAQ:FSLR)

Cassidy Turley will handle divestiture of Exxon Mobil campus (Virginia Business)
Exxon Mobil Corporation (NYSE:XOM) has selected Cassidy Turley, a large commercial real estate firm with offices in Washington, D.C., to provide divestiture services for Exxon Mobil’s 117-acre corporate campus in Fairfax. Cassidy Turley said in a press release that it will explore various disposition, project leasing and other value enhancement strategies for the campus at 3225 Gallows Road. Exxon Mobile announced plans last year to relocate operations at its Northern Virginia campus to a new corporate campus currently under development in suburban Houston.

Chesapeake Energy may benefit from Utica lease sales (Akron Beacon Journal)
On April 9th it was announced that Chesapeake Energy Corporation (NYSE:CHK) would be putting up 94,000 of the 1,000,000 net acres of the Utica shale formation for sale. According to Ben Lefebvre, “The land which includes three wells (two of which are operated by Chesapeake) is being sold in an effort for Chesapeake to focus on its other, more valuable, Utica-based holdings”. If and when Chesapeake does find a suitor, the company may be able to generate a pretty penny for the acreage as Tyler Crowe of the Motley Fool recently noted, “While the assets for sale are a more speculative play that has yet to be fully assessed, assets in the Utica could be a hot commodity.

More Reason to Expect Exxon and Chevron Dividend Hikes (24/7 Wall St.)
There is a reason that we expect solid dividend gains from Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX). While it is important that Exxon catches up to Chevron in yield, these companies have given internal raises. If they are raising pay internally, then they almost certainly will raise the payout for their common shareholders. After all, there has not exactly been a new floodgate opened in the past year as far as business conditions, and it is not as though oil went to $120 per barrel again.

First Solar: Is The Latest Move Just A Short Squeeze? (Seeking Alpha)
First Solar, Inc. (NASDAQ:FSLR) had the highest one day rise last week since going public. The move came after the company raised guidance and announced that it would acquire Silicon Valley startup TetraSun for an undisclosed amount from JX Nippon Oil Energy Corp and other investors. The acquisition will give First Solar an opportunity to enter markets where limited space requires higher efficiency, such as rooftops. The 45% rise in one day was probably amplified with short covering, and the short interest is being gradually reduced since October 2012. The share price is up 220% since early June 2012. Was the move just another short squeeze, or is there real buying power behind it?

Bank of New York Mellon to appear in court in Chesapeake Energy Corporation (NYSE:CHK) bond issue (PR Carbon)
The United States based lender Bank of New York Mellon Corporation has fallen back from argument that Chesapeake Energy Corporation (NYSE:CHK), a natural gas producer, should pay extra interest payment of nearly 400 million US dollars to bond holders if it loses lawsuit to redeem 1.3 billion US dollars in bonds early at par.

Exxon to remove damaged part of Arkansas oil pipeline on Monday (Reuters)
A 52-feet section of Exxon Mobil Corporation (NYSE:XOM)’s damaged Arkansas crude oil pipeline will be cut and removed on Monday, the company said. The portion of the Pegasus pipeline, which ruptured on March 29 resulting in a 5,000-barrel oil spill, will be transported to an independent third-party laboratory for…

…metallurgy testing, the company said in a statement on Sunday. Early last week, Arkansas Attorney General Dustin McDaniel, who launched an investigation into the oil spill, said the rupture was more than 22 feet long and two inches wide.

Consultant’s flip-flop weakens pollution case against Chevron (FuelFix)
Another player in the long-running, $19 billion pollution lawsuit against Chevron Corporation (NYSE:CVX) in Ecuador has switched sides — and accused former colleagues of hiding the truth. Environmental consultants who used to work for the lawyers suing Chevron now say they ghost-wrote a key court report that estimated the costs of cleaning up a swath of Ecuador’s rain forest tainted by oil production. The report — which pegged the clean-up cost at $27 billion — was supposed to be written by a neutral expert appointed by the court. Instead, the expert was working with the plaintiffs, the consultants say in court filings made public Friday by Chevron Corporation (NYSE:CVX).

US Natural Gas: Chesapeake Energy targets 330 Mmcfe d by 2013 (Electric Light & Power)
Chesapeake Energy CorporationThe Utica play s largest natural gas producer Chesapeake Energy Corporation (NYSE:CHK) recently announced net production targets of more than 330 MMcfe/d by the end of the year up from 75 MMcfe/d currently said London based Barclays in its recent market analysis. The Marcellus carried US natural gas production higher in 2012 single handedly growing by 3 Bcf d y y. On a gross basis this translates into approximately 440 mmcfe/d production growth from current levels through the end of the year 1.

First Solar Receives New Coverage from Analysts at RBC Capital (FSLR) (Mideast Time)
RBC Capital assumed coverage on shares of First Solar, Inc. (NASDAQ:FSLR) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm issued a sector perform rating and a $30.00 target price on the stock. First Solar opened at 37.11 on Thursday. First Solar has a 52-week low of $11.43 and a 52-week high of $41.00. The stock’s 50-day moving average is currently $28.57. The company’s market cap is $3.234 billion.

Exxon Mobil Corporation (XOM): Earth Shaking News About Natural Gas Fracking (Insider Monkey)
Increased seismic activity in North America and Europe near corridors of hydraulic fracturing has had some worried about the dangers that fracking could be causing. Arkansas even went as far as shutting down fracking in a portion of the state during 2011, after tremors were felt. However, a recent study out of the United Kingdom hopes to dispel some of those worries. The following video provides an overview of the study’s findings and touches on the opinions of a 20-year Exxon Mobil Corporation (NYSE:XOM) veteran-turned-Tufts-professor on the issue.

Chevron Slapped With Violation Notice Over Spill (ABC News)
State regulators have slapped Chevron Corporation (NYSE:CVX) with a violation notice over a March fuel spill near a northern Utah bird refuge. The Utah Division of Water Quality is asking Chevron to provide a report on cleanup operations and a response plan for the pipeline rupture that leaked about 21,000 gallons of diesel fuel. The split in the pipeline running between Salt Lake City and Spokane, Wash., spilled diesel at Willard Bay State Park and near the Bear River Migratory Bird Refuge. Division Director Walt Baker said his agency is working with the Attorney General’s Office to ensure Chevron is held accountable for the spill and its impacts.

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