Independent Oil & Gas

(KWK) Quicksilver’s Horn River Basin Tests Positive

Quicksilver Resources (KWK) recently tested its first completed well in the Horn River Basin in Northeast British Columbia. The well had an initial production rate of 13 million cubic feet per day and averaged 10 million cubic feet per day during the first month of production.

24Sep2009 | | 0 comments | Continued

(XTO) Natural Gas Inventory Builds at Slower Pace

Yesterday, we received a mildly positive report from the federal government’s Energy Information Administration (EIA), showing a less-than-expected rise in natural gas supplies. Stockpiles held in underground storage in the lower 48 states rose by 66 billion cubic feet (Bcf) for the week ended September...

18Sep2009 | | 0 comments | Continued

(EPD) Enterprise Products Partners Inks New Contract

Yesterday, Enterprise Products Partners L.P. (EPD) signed a long-term agreement with one of the largest and most active producers in the developing Eagle Ford Shale play in South Texas to provide natural gas transportation and processing services.

The agreement covers more...

17Sep2009 | | 0 comments | Continued

(APC) Anadarko Petroleum Finds Oil Offshore Sierra Leone

Anadarko Petroleum (APC) has made a new deepwater discovery at the Venus exploration well in block SL 6/07 offshore Sierra Leone. The well was drilled to a total depth of nearly 18,500 feet in about 5,900 feet of water and found over 45 net feet of hydrocarbon pay. Anadarko operates...

17Sep2009 | | 0 comments | Continued

SunTrust Banks To Repay TARP Loan

The Chief Executive Officer [CEO] of SunTrust Banks Inc. (STI) said on Tuesday that the bank will repay the fund it received for its participation in the Troubled Asset Relief Program (TARP) as soon as it gets the regulator’s permission. The CEO also added that the credit condition...

17Sep2009 | | 0 comments | Continued

(SNP) Sinopec’s New Pipeline Operational

China’s largest refiner and marketer of refined petroleum products – China Petroleum and Chemical Corp. (SNP), also known as Sinopec – recently announced that it has started the operation of a pipeline in southwestern China. It is a 323-kilometer oil products pipeline, which...

15Sep2009 | | 0 comments | Continued

(ECA) EnCana Corporation to Split Oil & Gas Concerns

EnCana Corporation (ECA) proceeds with its plan to split into two independent energy companies – one focused on natural gas and the other on integrated oil businesses. The natural gas-focused company and the integrated oil company will be named EnCana (GasCo) and Cenovus Energy...

11Sep2009 | | 0 comments | Continued

(XTO) Natural Gas Inventories Rise Less Than Expected

In its weekly release yesterday, the Energy Information Administration (EIA) reported a less-than-expected 69 billion cubic feet (Bcf) weekly addition to natural gas stockpiles for the week ended September 4.

This takes the current storage level to 3.39 trillion cubic feet (Tcf), which is up...

11Sep2009 | | 0 comments | Continued

(APA) EnCana Corporation Shale Plays Bode Well

EnCana Corporation (ECA) has recently said that a significant exposure to the Horn River shale play (in a remote corner of northern British Columbia) should add substantial value to the company in the future. This shale play could hold as much as 500 trillion cubic feet (Tcf) of natural...

10Sep2009 | | 0 comments | Continued

(PXP) Plains Exploration & Production Consensus Estimate Soars

Plains Exploration & Production Company (PXP) is seeing production volumes pick up in the Haynesville Shale even as crude and natural gas prices remain far below 2008 prices. The company trades with a forward P/E of 9.02.

Company Description

Plains...

10Sep2009 | | 0 comments | Continued

(PXP) Plains Exploration & Production on Fund Raising Spree

Plains Exploration & Production (PXP) has recently issued $400 million of 8.625% coupon bearing senior notes at 98.335% of the face value. The notes are due on October 15, 2019 and yield 8.875% to maturity based upon the initial offering price. Last month, it raised around $397 million by offering...

9Sep2009 | | 0 comments | Continued

(STR) Questar Gas Asks for Rate Decrease

Last week, Questar Gas — the retail gas distribution subsidiary of Questar Corporation (STR) — asked the Public Service Commission of Utah to allow it to reduce natural gas rates by a total $6.7 million (or about one-half of one percent). If approved by the state’s...

8Sep2009 | | 0 comments | Continued

(NBL) Noble Energy Stays Neutral

Texas-based Noble Energy (NBL) is an independent oil and gas exploration and production (E&P) company with high-grade hydrocarbon assets across the U.S. and several international locations. The low-risk development projects of the company balance its high-impact exploration opportunities.

In...

8Sep2009 | | 0 comments | Continued

($XTO) Natural Gas Stockpiles Expand

Yesterday, in its weekly release, the federal government’s Energy Information Administration (EIA) reported another rise in natural gas supplies. Stockpiles held in underground storage in the lower 48 states rose by 65 billion cubic feet (Bcf) for the week ended August 28.

This takes the...

4Sep2009 | | 0 comments | Continued

(SU) Suncor Energy to Exceed Targets

One month after the closure of Suncor Energy’s (SU) merger with Petro-Canada, the combined entity is on course to achieve the planned annual reductions of $300 million in operating costs and $1 billion in capex. Even the company is expecting to exceed the operating and capital efficiency...

4Sep2009 | | 0 comments | Continued

($SNP) China Boosts Gas and Diesel Prices

The National Development and Reform Commission of China said that the government will increase both gasoline and diesel prices, effective today. Both the prices will increase by 300 yuan ($43.98) a metric ton, representing approximately 4%–5% over current average gasoline and diesel retail ceiling...

2Sep2009 | | 0 comments | Continued

($XTO) EIA-Reported Supply Glut Pressuring Natural Gas

In its weekly release yesterday, the Energy Information Administration (EIA) reported a bigger-than-expected 54 billion cubic feet (Bcf) weekly addition to natural gas stockpiles for the week ended August 21. This takes the current storage level to 3.26 trillion cubic feet (Tcf), which is up 18.8%...

28Aug2009 | | 0 comments | Continued

(NFX) Newfield Exploration to Scale Back Production

Recently, Newfield Exploration Co. (NFX) – an independent energy firm – announced plans to cut back its third quarter natural gas production by about 2.5 billion cubic feet equivalent (Bcfe), on wells in the company’s Mid-Continent division. The curtailments (roughly 4%...

27Aug2009 | | 0 comments | Continued

(CEO) CNOOC Maintains its Outperform Rating

Earlier today, CNOOC Ltd. (CEO) reported results for the six months ended June 30. Net income for the period was 12.4 billion yuan ($1.82 billion), down 55% from 27.54 billion yuan ($3.9 billion) a year earlier. The steep fall in net income was primarily due to significantly lower...

26Aug2009 | | 0 comments | Continued

(APA) Apache Corporation Inks Egypt Energy Deals

Last week, Egypt’s Oil Ministry said that the country has signed three oil and gas exploration agreements with U.S. energy company Apache Corporation (APA). The deals, which involve digging a total of 14 wells in three areas of Egypt’s Western Desert, are valued at $30 million....

25Aug2009 | | 0 comments | Continued

(DVN) Devon Energy Recommendation Stays Neutral

Oklahoma-based Devon Energy (DVN) is a leading independent oil and gas company in the U.S. Its deep and diversified portfolio, primarily comprising unconventional resources, reflects significant long-term growth potential. The company dedicates a substantial part of its capex budget...

25Aug2009 | | 0 comments | Continued

(SNP) Sinopec Reports Steady Growth in Oil and Gas Volumes

Sinopec (SNP) recently reported results for the six months ended June 30. Net income for the period increased significantly from the year-earlier level to RMB 33.2 billion ($4.87 billion). The positive results reflect a steady growth in oil and gas volumes and profit from the refining...

24Aug2009 | | 0 comments | Continued

(XTO) Natural Gas Continues to Build

Yesterday, in its weekly report, the Energy Information Administration (EIA) said that natural gas inventories for the latest week came towards the lower end of expectations. Stockpiles held in underground storage in the lower 48 states rose by 52 billion cubic feet (Bcf) to about 3.20 trillion cubic...

21Aug2009 | | 0 comments | Continued

(DVN) Devon Energy Earnings Surprise – EPS of 85 cents surpassed estimates by 49%

Devon Energy (DVN) posted better-than-expected results for the second quarter of 2009 due to record production volume and favorable service and supply costs across all major operating segments. Adjusted EPS of 85 cents surpassed the Zacks Consensus Estimate by 28 cents.

This,...

20Aug2009 | | 0 comments | Continued

(SNP) Mixed Bag for Chinese Oil Majors

Prominent Chinese refiners Sinopec (SNP) and PetroChina Company Ltd. (PTR) are set to release solid quarterly earnings on the back of an increase in fuel prices.

China raised gasoline and diesel prices twice in June in order to track international crude prices....

20Aug2009 | | 0 comments | Continued

(LINE) LINN Energy, LLC – Unit Holders Pulling in a Big Yield

LINN Energy, LLC (LINE) continues to pay a huge distribution to shareholders of 11.20% as it also recently expanded its oil and gas properties with a play into the Permian Basin. The company recently surprised on the Zacks Consensus Estimate for the second quarter in a row.

Company...

19Aug2009 | | 0 comments | Continued

(SNP) Sinopec Wraps Up Addax Deal

Earlier today, China’s state-controlled petroleum refiner China Petroleum and Chemical Corp. – also known as Sinopec (SNP) – completed its previously announced acquisition of Geneva-based oil and gas explorer Addax Petroleum for $7.5 billion in China’s largest...

19Aug2009 | | 0 comments | Continued

(SGY) Stone Energy Corp. – earnings of 65 cents per share vs. the consensus of 10 cents

Stone Energy Corp. (SGY) is posting huge gains as estimates continue to surge.

Company Description

Stone Energy Corporation operates as an energy explorer in the Gulf of Mexico and Appalachia region. The company was founded...

5Aug2009 | | 0 comments | Continued

(CNQ) Canadian Natural Resources Limited – Value – Zacks Rank Buy

Canadian Natural Resources Limited (CNQ), the oil exploration company, saw production rise in the first quarter even as crude prices fell sharply. The company has surprised on estimates 3 out of the last 4 quarters. It is trading with a forward P/E of 12.4.

Company...

14Jul2009 | | 0 comments | Continued

(FST) Forest Oil Corporation – Value – Zacks Rank Buy

Forest Oil Corporation (FST) is a North American oil and natural gas exploration and production company with properties in the Southern and Western United States and in Canada.

Since I last reviewed Forest Oil in July 2008, crude and natural gas prices have plunged. The stock...

29Jun2009 | | 0 comments | Continued