Word: amerada
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...compelling values are in natural gas (where Buffett has been buying). Typically, gas-company P/Es are slightly above the S&P multiple. Today the group trades at a 50% discount, Manley notes. Big oil companies don't look cheap, but domestic producers are trading below the market average, including Amerada Hess. Electric utilities are best valued by their dividend yields. Secure yields of 4% to 6%--as with FPL and Public Services Enterprises--are out there...
...TIME has learned that both Helms and Biden cited reports that Wintershall, an oil subsidiary of the giant German chemical conglomerate BASF, is currently in talks with the Libyan government about properties of the Oasis Partners, a U.S. consortium involving Marathon, Conoco and Amerada Hess. The holdings, which could be worth hundreds of millions of dollars, have not been operated by the Americans since 1986, when President Ronald Reagan imposed an executive order banning U.S. firms from doing business in the country...
...manipulations will end up ballooning the city's debt. In defense, Lanier points to the overwhelming endorsement of his financial program by the city's business community. At his urging, Texas Commerce Bank opened a now thriving branch in the city's crime-ridden fifth ward. Last year the Amerada Hess oil company consolidated its offices in Houston. It was the largest corporate move into the city in the past 15 years. Since Lanier came to office, Houston has begun to reverse the exodus to the suburbs, adding 50,400 new jobs...
...past 32 months five large oil firms (Gulf, Getty Oil, Conoco, Marathon Oil and Cities Service) have been swallowed up. Last week's news set off renewed speculation about which energy companies would be acquired next. Among the most frequently mentioned targets: Superior Oil, Kerr-McGee and Amerada Hess...
...left a loophole, though, that would allow Mobil to go ahead if it gives up some of Marathon's gas stations and its distribution network. But the agency still refused to consider Mobil's offer to sell off part of Marathon's holding to Amerada Hess Corp., another oil company, as a way of maintaining competition in markets where both Mobil and Marathon do business...