Independent Oil & Gas
(SU) Suncor Energy Posts Weak Earnings Results
Canada-based Suncor Energy Inc. (SU) reported weak fourth quarter results, adversely affected by higher expenses and royalty payments as well as less-than-expected production. Earnings per share, excluding certain items, came in at 9 Canadian cents (8 cents), well below the Zacks...
5Feb2010 | vitalstocks | 0 comments | Continued(PXD) Pioneer Natural Resources Company Easily Beats Expectations
Pioneer Natural Resources Company (PXD) reported its fourth quarter results of 18 cents per share, easily beating the Zacks Consensus Estimate of 5 cents and the year-earlier quarter loss of 15 cents. Including one-time items, earnings were 48 cents per share. Pioneer’s quarterly...
4Feb2010 | vitalstocks | 0 comments | Continued(CEO) CNOOC Limited Releases 2010 Outlook
China’s largest offshore oil explorer CNOOC Ltd. (CEO) has released its 2010 business strategy and development plan. The company is highly optimistic about its production growth this year. Based on new projects that will come online, CNOOC expects its net production will increase...
3Feb2010 | vitalstocks | 0 comments | Continued(APC) Anadarko Petroleum Corporation Profits Dip – Sales Rise
Anadarko Petroleum Corporation (APC) posted robust numbers for the fourth quarter of 2009, driven by higher sales volumes and lower capital spending on near term projects. Net income from continuing operations was 4 cents per share, in line with the Zacks Consensus Estimate of...
2Feb2010 | vitalstocks | 0 comments | Continued(CEO) Cnooc Limited – Production Increasing
Cnooc Limited (CEO) continues to develop the South China sea, driving projections higher. Analysts are expecting earnings to grow at a break-neck pace. Production Increasing On Oct 29 the Cnooc reported quarterly results that showed an 18% increase in daily production to almost...
1Feb2010 | vitalstocks | 0 comments | Continued(OXY) Occidental Petroleum Corporation Beats on Production Rise
Occidental Petroleum Corporation (OXY) posted better-than-expected numbers for fourth quarter and fiscal 2009 driven by higher production volumes. Net income from continuing operations was $1.30 per share, higher than the Zacks Consensus Estimate of $1.23 and last year’s net...
29Jan2010 | vitalstocks | 0 comments | Continued(GEOI) GeoReseources Incorporated – Bullish 51% Growth Projection
GeoReseources, Inc. (GEOI) recently hit a new 52-week high on rising estimates and the company’s strong Q3 results from early November. Company Description GeoResources, Inc. operates as an independent oil and gas company involved in the production and exploration of crude...
26Jan2010 | vitalstocks | 0 comments | Continued(PXD) Pioneer Natural Resources Company Initiated at Neutral
Ahead of the fourth quarter results scheduled to be released on February 2, we have initiated coverage on Pioneer Natural Resources Company (PXD) with a Neutral recommendation and a $51 target price. Irving, Texas-based Pioneer is an independent oil and gas exploration and production...
21Jan2010 | vitalstocks | 0 comments | Continued(NFX) Newfield Exploration’s Oklahoma Acreage Booming
Newfield Exploration (NFX) announced a record production at the company’s Woodford Shale play in the Arkoma Basin of southeastern Oklahoma. The gross operated production from this play reached 323 million cubic feet equivalent per day (MMcfe/d) or a net level of 184 MMcfe/d. Newfield...
20Jan2010 | vitalstocks | 0 comments | Continued(UPL) Ultra Petroleum Analyst Coverage Initiated at Neutral
We are initiating coverage on Ultra Petroleum Corp. (UPL) with a Neutral recommendation and a target price of $55. Houston, Texas-based Ultra Petroleum is an independent energy firm engaged in the acquisition, development, exploration and production of oil and gas properties....
19Jan2010 | vitalstocks | 0 comments | Continued(SNP) Sinopec and BP plc Are In Talks For Shale Gas
Sinopec (SNP), the Chinese oil giant, is in talks over a possible collaboration with BP plc (BP) in shale gas development. This discussion follows the finalization of a deal between Royal Dutch Shell (RDSA) and PetroChina (PTR) during last November to jointly develop shale gas...
19Jan2010 | vitalstocks | 0 comments | Continued($OXY) Occidental Petroleum: The Industry-Changing Oil And Gas Company You Haven’t Heard Of
by Tony Daltorio, Investment U Research Monday, January 18, 2010 While the financial world gushes about oil and gas on practically a daily basis, it seems to have completely forgotten about California-based Occidental Petroleum (NYSE: OXY), despite how the company made the...
18Jan2010 | InvestmentU | 0 comments | Continued(APA) Apache Corporation Unit Buys 51% Kitimat LNG Stake
Apache Canada Ltd., a subsidiary of U.S. energy firm Apache Corp. (APA), has agreed to acquire a controlling stake in a proposed C$3 billion ($2.9 billion) liquefied natural gas (LNG) export terminal in northwestern British Columbia. The company announced the purchase of a 51%...
15Jan2010 | vitalstocks | 0 comments | Continued(FST) Forest Oil Corporation’s Texas Wells Strike Big
With the announcement of tremendous production results from two of its latest Texas wells, shares of Forest Oil Corporation (FST) jumped more than 10% yesterday to a 52-week high of $27.70. The third and fourth wells in the Texas Panhandle Granite Wash region came in with an...
15Jan2010 | vitalstocks | 0 comments | Continued(NFX) Newfield Exploration and Anadarko Petroleum Buy TXCO Resources’ Assets
Newfield Exploration Co. (NFX) and Anadarko Petroleum Corp. (APC) announced a joint transaction to acquire TXCO Resources Inc.’s (TXCO) assets in the Maverick Basin of Southwest Texas for up to $310 million. The final amount will be determined at closing, which is expected...
14Jan2010 | vitalstocks | 0 comments | Continued(TLM) Talisman Energy Sees Higher 2010 Budget
Canadian energy explorer Talisman Energy Inc. (TLM) offered a glimpse of its 2010 production and capital spending plans. Talisman said that it will boost its capital expenditures by about 10% in 2010, as it focuses on promising shale gas programs. However, despite hiking the...
13Jan2010 | vitalstocks | 0 comments | Continued(NFX) Newfield Exploration Company to Buy TXCO Resources Assets
Newfield Exploration Company (NFX) and Anadarko Petroleum Corporation (APC) have joined hands for the purchase of properties in the Maverick Basin of Southwest Texas from TXCO Resources Inc. (TXCO). The total consideration for the deal is nearly $310 million. The final amount...
13Jan2010 | vitalstocks | 0 comments | Continued(SM) St. Mary Land & Exploration Offloads Rocky Holdings
St. Mary Land & Exploration Co. (SM) has entered into three different transactions to sell its non-core Rocky Mountain properties for a total consideration of $307 million. In the first transaction, St Mary sold acreage in Wyoming to Legacy Reserves LP (LGCY) for $130 million....
11Jan2010 | vitalstocks | 0 comments | Continued(CNQ) Canadian Natural Resources Ltd. – 2010 Earnings Estimates Rising
Canadian Natural Resources Ltd. (CNQ) is pressuring new highs as analysts raise their 2010 projections. Company Description Canadian Natural Resources is a vertically integrated oil and gas company. The company explores, develops, and produces those energy components. Additionally...
7Jan2010 | vitalstocks | 0 comments | Continued(SU) Suncor Energy Sheds Rockies Assets
Canada’s Suncor Energy (SU) has entered into an agreement with Houston-based Noble Energy Inc. (NBL) to sell bulk of its Rocky Mountain oil and gas fields for $494 million. The total sold properties hold an estimated 53 million barrels of oil equivalent in proved reserves (45%...
6Jan2010 | vitalstocks | 0 comments | Continued(DNR) Denbury Resources Completes Barnett Sale
Denbury Resources (DNR) has completed the sale of remaining 40% of its Barnett Shale natural gas assets to Talon Oil & Gas LLC (a privately held company) for $210 million. During June last year, Denbury had completed the sale of its first 60% for $270 million to the same...
5Jan2010 | vitalstocks | 0 comments | Continued(CHK) Chesapeake Energy Corporation Forms Joint Venture with Total S.A.
Chesapeake Energy Corporation (CHK) has joined hands with the world’s fifth largest integrated oil and gas company Total S.A. or Total (TOT) for the development of Barnett Shale assets by creating a joint venture. Total will acquire a 25% interest in Chesapeake’s upstream...
5Jan2010 | vitalstocks | 0 comments | Continued(CEO) CNOOC Makes Deepwater Engineering Base
CNOOC Ltd. (CEO) has started construction of its deepwater engineering base in the Gaolan Port Economic Zone in Zhuhai of Guangdong province in south China. The engineering base will be engaged in the manufacture of offshore oil and gas field equipment. The total investment for...
30Dec2009 | vitalstocks | 0 comments | Continued(CHK) Chesapeake Energy to Use Spectra Energy Pipeline
With a growing need to transport its increasing Marcellus Shale production into the prominent natural gas market in the U.S., Chesapeake Energy Corp. (CHK) has entered into a definitive agreement with Spectra Energy Corp. (SE). The agreement provides that Chesapeake will be the...
29Dec2009 | vitalstocks | 0 comments | Continued(CEO) China-based CNOOC’s Momentum Continues
China’s largest offshore oil explorer CNOOC Ltd. (CEO) has signed an agreement with Venezuelan state oil company PDVSA for joint development of oil and gas reserves in the Latin American country. The company will help Venezuela to develop the Boyaca 3 oil block in the Orinoco...
29Dec2009 | vitalstocks | 0 comments | Continued(NFX) Newfield Exploration Company Switching Focus to Oil
Newfield Exploration Company (NFX) shifts future resources toward oil. Capital is being reinvested for its oil plays, shifting the production mix towards oil over the next several quarters. We believe the gravitation of investors over the past year has been its ever improving...
27Dec2009 | vitalstocks | 0 comments | Continued(SNP) Chinese Refiners May Face Challenges
With a significant pace of expansion in processing capacity, Asia’s largest refiner, China Petroleum and Chemical Corporation or Sinopec (SNP) believes that the macro environment will be challenging in the next year. With increasing crude oil prices, fuel demand growth lags...
27Dec2009 | vitalstocks | 0 comments | Continued(DVN) Devon Energy Corporation Sells Gulf of Mexico Assets
Devon Energy Corporation (DVN) has agreed to sell three of its Gulf of Mexico assets to Maersk Oil for $1.3 billion. The divestiture would include Devon’s 50% interest in the Cascade project and its 25% interests in the Jack and St. Malo projects. All three projects are located...
23Dec2009 | vitalstocks | 0 comments | Continued(CRK) Comstock Resources Inc to Hike Capital Spending
Oil and natural gas firm Comstock Resources Inc. (CRK) has announced its 2010 capital spending plans. The company has pegged its development and exploration budget at $385 million, up more than 8% from the $355 million it expects to invest by the end of 2009. Comstock will be...
22Dec2009 | vitalstocks | 0 comments | Continued(FST) Forest Oil Corporation Completes Asset Divestiture
Forest Oil Corp. (FST) yesterday announced that it has closed its previously announced sale of the rest of its Permian Basin properties in West Texas and New Mexico for approximately $800 million to SandRidge Exploration and Production LLC, a wholly owned subsidiary of SandRidge...
22Dec2009 | vitalstocks | 0 comments | Continued