Initially reported as a discovery in February 2013, Brazil’s Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has confirmed that its 1-SPS-98 (1-BRSA-1063-SPS) well, the first to be drilled on Block BM-S-50 offshore Brazil, has tested carbonate reservoirs with good permeability. The block, informally known as Sagitario, is in Brazil’s ultradeepwater Santos basin presalt region 194 km offshore Sao Paulo in 1,871 m of water. It has reached total depth of 7,110 m, the company said. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock performance was -1.95% in last session and finished the day at $14.62. Traded volume was 13.56million shares in the last session and the average volume of the stock remained 25.11million shares. The beta of the stock remained 1.84.

Chesapeake Energy Corp. (NYSE:CHK), the second-biggest U.S. natural-gas producer, said Michigan is cherry picking the company’s internal emails to suggest its former CEO invited Canadian rival Encana Corp.(NYSE: ECA, TO: ECA.TO) to join in dividing the state’s oil and gas lease bids. Chesapeake Energy Corporation (NYSE:CHK) rose 2.31 percent to $28.32 Tuesday on volume of 9.40million shares. The intra-day range of the stock was $27.70 to $28.35. Chesapeake Energy Corporation (NYSE:CHK) has a market capitalization of $18.87billion.

Rio last month sued Vale SA (ADR) (NYSE:VALE), Israeli billionaire Beny Steinmetz and his mining company, saying they conspired to steal rights to the other two licenses at Simandou in 2008. Vale SA (ADR) (NYSE:VALE)’s stock on May 27, 2014 reported a decrease of -0.83% to the closing price of $13.07. Its fifty two weeks range is $12.29 -$17.14. The total market capitalization recorded $67.35billion. The overall volume in the last trading session was 12.38million shares. In its share capital, VALE has 5.18billion outstanding shares.

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) CEO Richard Adkerson received a one-time payment of $36.7 million to renegotiate his contract. His total pay, $55.3 million, made him the third-highest paid CEO last year. On Tuesday, shares of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) dropped -1.37% to close the day at $33.96. Company return on investment (ROI) is 9.20% and its monthly performance is recorded as -0.15%. Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) quarterly revenue growth is 4.62%.