First Deepwater Drilling Permit Issued Since Gulf Spill

Source: L.A. Times, Neela Banerjee (3/2/11)

"Move stokes cautious optimism Monday among industry executives, gulf coast politicians."

The Obama administration issued the first new deep-water drilling permit for the Gulf of Mexico since the BP oil spill, stoking cautious optimism Monday among some industry executives and Gulf Coast politicians about local oil and gas exploration.

The federal Bureau of Ocean Energy Management, Regulation and Enforcement approved a permit for the Houston-based company Noble Energy to drill a so-called bypass well in 6,500 feet of water about 70 miles southeast of Venice, La.

The new well would track one started in April 2010 but plugged two months later, when the government established a moratorium on deep-water drilling in response to BP's well blowout. Noble's new drilling would go around the plugs to reach the oil.

The administration's announcement comes as Interior Department officials face growing pressure from the courts and Congress to speed up the approval process. Not a single new well has been drilled in deep water since the April 20 BP oil spill, which killed 11 workers and spewed more than 200 million gallons of crude into the gulf.

After the worst offshore oil disaster in American history, the Interior Department revamped lax permitting procedures, and regulators and industry struggled to master them.

In mid-February, U.S. District Judge Martin Feldman ruled in Louisiana that the Interior Department had to act on drilling applications "within a reasonable time" and that delays had grown "increasingly inexcusable." The Republican-led House has promised to grill Interior Department officials about the delays at several hearings over the next few weeks.

On Monday, the director of the ocean energy bureau brushed aside suggestions that his agency was responding to pressure in issuing the permit. Instead, Michael Bromwich emphasized that Noble met the new, more stringent safety requirements.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial.

Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

Shares of cardiac medical device maker Abiomed Inc. traded higher after the company reported record revenue for Q3/21 despite the impact from COVID-19.

Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC™ Study for treatment of hospitalized ICU COVID-19 patients.

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data
Source: Streetwise Reports (01/26/2021)

Vir Biotechnology shares traded higher after the company reported data from its Phase 1 Chronic Hepatitis B Study that showed VIR-3434 significantly and rapidly reduced hepatitis B surface antigen.

Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug
Source: Streetwise Reports (01/25/2021)

Shares of Aurinia Pharmaceuticals traded 30% higher after the company reported that the U.S. Food and Drug Administration approved its LUPKYNIS™ (voclosporin) for use in treating adults with active lupus nephritis.

AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients
Source: Streetwise Reports (01/22/2021)

AzurRx BioPharma shares traded 45% higher after the firm advised it had dosed the first two patients in its Phase 2b OPTION 2 Extension Study of MS1819 for treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis.

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Explorer Discovers New Gold Mineralization at Abitibi Gold Belt Property
Source: Streetwise Reports (01/21/2021)

iMetal Resources is setting out to see if the multi-million ounce gold resource next door continues onto its Gowganda West property in Ontario.

Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine
Source: Streetwise Reports (01/20/2021)

Shares of Gritstone Oncology reached a new 52-week high price after the company advised it entered into a non-exclusive licensing agreement with Genevant Sciences to develop and commercialize self-amplifying RNA vaccines for use against SARS-CoV-2.