Stock Blog Hub » Independent Oil & Gas

(KWK) Quicksilver’s Horn River Basin Tests Positive

vitalstocks — Thu, 24 Sep 2009 20:46:28 +0000

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. The D-50A well was drilled into the Muskwa shale [...]

(KWK) Quicksilver’s Horn River Basin Tests Positive

(XTO) Natural Gas Inventory Builds at Slower Pace

vitalstocks — Fri, 18 Sep 2009 23:41:22 +0000

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 11. This takes the current storage level to 3.46 trillion [...]

(XTO) Natural Gas Inventory Builds at Slower Pace

(EPD) Enterprise Products Partners Inks New Contract

vitalstocks — Thu, 17 Sep 2009 19:03:07 +0000

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 than 150,000 acres in the heart of the Eagle Ford Shale play. The partnership’s [...]

(EPD) Enterprise Products Partners Inks New Contract

(APC) Anadarko Petroleum Finds Oil Offshore Sierra Leone

vitalstocks — Thu, 17 Sep 2009 18:31:30 +0000

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 the Venus well with a [...]

(APC) Anadarko Petroleum Finds Oil Offshore Sierra Leone

SunTrust Banks To Repay TARP Loan

vitalstocks — Thu, 17 Sep 2009 17:56:49 +0000

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 of the bank is achieving stability. SunTrust [...]

SunTrust Banks To Repay TARP Loan

(SNP) Sinopec’s New Pipeline Operational

vitalstocks — Tue, 15 Sep 2009 17:26:37 +0000

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 will ease local oil products supplies and also strengthen Sinopec’s presence in [...]

(SNP) Sinopec’s New Pipeline Operational

(ECA) EnCana Corporation to Split Oil & Gas Concerns

vitalstocks — Fri, 11 Sep 2009 23:22:09 +0000

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 Inc., respectively. This is a tax-free transaction from both the corporate [...]

(ECA) EnCana Corporation to Split Oil & Gas Concerns

(XTO) Natural Gas Inventories Rise Less Than Expected

vitalstocks — Fri, 11 Sep 2009 21:46:31 +0000

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 17.1% from last year’s level and 17.4% above the five-year [...]

(XTO) Natural Gas Inventories Rise Less Than Expected

(APA) EnCana Corporation Shale Plays Bode Well

vitalstocks — Thu, 10 Sep 2009 21:27:43 +0000

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 gas. The Horn River shale play [...]

(APA) EnCana Corporation Shale Plays Bode Well

(PXP) Plains Exploration & Production Consensus Estimate Soars

vitalstocks — Thu, 10 Sep 2009 21:26:41 +0000

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 Exploration & Production is an independent oil and natural gas company with operations in California, [...]

(PXP) Plains Exploration & Production Consensus Estimate Soars

(PXP) Plains Exploration & Production on Fund Raising Spree

vitalstocks — Wed, 09 Sep 2009 21:48:15 +0000

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 17.25 million shares to public. [...]

(PXP) Plains Exploration & Production on Fund Raising Spree

(STR) Questar Gas Asks for Rate Decrease

vitalstocks — Tue, 08 Sep 2009 23:31:34 +0000

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 top utility regulator, the rate cut will lower the [...]

(STR) Questar Gas Asks for Rate Decrease

(NBL) Noble Energy Stays Neutral

vitalstocks — Tue, 08 Sep 2009 23:12:58 +0000

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 the U.S., the onshore assets provide stable performance and the offshore assets in the deepwater Gulf [...]

(NBL) Noble Energy Stays Neutral

($XTO) Natural Gas Stockpiles Expand

vitalstocks — Fri, 04 Sep 2009 23:36:16 +0000

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 current storage level to 3.32 trillion cubic feet (Tcf), which [...]

($XTO) Natural Gas Stockpiles Expand

(SU) Suncor Energy to Exceed Targets

vitalstocks — Fri, 04 Sep 2009 22:20:59 +0000

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 targets going forward leveraging the economies of scale [...]

(SU) Suncor Energy to Exceed Targets

($SNP) China Boosts Gas and Diesel Prices

vitalstocks — Thu, 03 Sep 2009 01:23:50 +0000

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 benchmarks of yuan 7,310 ($1,072) and yuan 6,570 ($963) a ton. [...]

($SNP) China Boosts Gas and Diesel Prices

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

vitalstocks — Fri, 28 Aug 2009 23:17:02 +0000

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% from last year’s level and 18.1% above the five-year [...]

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

(NFX) Newfield Exploration to Scale Back Production

vitalstocks — Thu, 27 Aug 2009 20:05:37 +0000

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% of the company’s production guidance of 62.9–70.0 Bcfe) are in response to current low [...]

(NFX) Newfield Exploration to Scale Back Production

(CEO) CNOOC Maintains its Outperform Rating

vitalstocks — Wed, 26 Aug 2009 20:59:21 +0000

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 oil prices despite excellent production performance. The [...]

(CEO) CNOOC Maintains its Outperform Rating

(APA) Apache Corporation Inks Egypt Energy Deals

vitalstocks — Tue, 25 Aug 2009 21:18:07 +0000

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. Apache would work in partnership with state-run Egyptian General [...]

(APA) Apache Corporation Inks Egypt Energy Deals

(DVN) Devon Energy Recommendation Stays Neutral

vitalstocks — Tue, 25 Aug 2009 20:28:29 +0000

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 to low-risk development projects in its vast North American assets which provide reliable and repeatable production [...]

(DVN) Devon Energy Recommendation Stays Neutral

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

vitalstocks — Mon, 24 Aug 2009 21:21:08 +0000

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 business. Sinopec’s crude oil production during the period rose [...]

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

(XTO) Natural Gas Continues to Build

vitalstocks — Fri, 21 Aug 2009 17:30:51 +0000

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 feet (Tcf) for the week ended August [...]

(XTO) Natural Gas Continues to Build

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

vitalstocks — Thu, 20 Aug 2009 18:37:53 +0000

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, however, was significantly lower than $3.39 recorded last year, as the commodity market [...]

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

(SNP) Mixed Bag for Chinese Oil Majors

vitalstocks — Thu, 20 Aug 2009 18:29:17 +0000

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. The increase in fuel prices gives refiners a guaranteed profit margin if crude [...]

(SNP) Mixed Bag for Chinese Oil Majors

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

vitalstocks — Wed, 19 Aug 2009 23:01:31 +0000

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 Description LINN Energy is an independent oil [...]

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

(SNP) Sinopec Wraps Up Addax Deal

vitalstocks — Wed, 19 Aug 2009 22:35:05 +0000

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 overseas takeover. Per the deal terms, Addax shareholders received $47.80 in cash for each share they owned. The [...]

(SNP) Sinopec Wraps Up Addax Deal

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

vitalstocks — Wed, 05 Aug 2009 14:14:00 +0000

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 in 1993 and has a market cap of $470 million. Stone Energy is up huge over the last 4 months, [...]

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

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

vitalstocks — Tue, 14 Jul 2009 14:27:56 +0000

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 Description Canadian Natural Resources is an independent oil and natural [...]

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

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

vitalstocks — Mon, 29 Jun 2009 21:07:13 +0000

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 is now a Zacks #2 Rank (buy) stock instead [...]

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

(SNP) China Petroleum & Chemical Corp. – Momentum – Zacks Rank Buy

vitalstocks — Thu, 28 May 2009 22:11:17 +0000

China Petroleum & Chemical Corp.’s (SNP) share price is on the rise as crude trends higher and breaks the $60 mark. Company Description China Petroleum & Chemical Corp., through its subsidiaries, operates as an integrated oil, gas and chemical company in Hong Kong and China. The company was founded in 2000, is headquartered in Beijing [...]

(SNP) China Petroleum & Chemical Corp. – Momentum – Zacks Rank Buy

(BRY) Berry Petroleum Company – Value – Zacks Rank Buy

vitalstocks — Wed, 04 Mar 2009 04:01:39 +0000

Berry Petroleum Company (BRY), the oil explorer, has seen its share price hammered as crude has sold off yet the company increased production 18% in 2008. The company has also hedged 90% of its oil production in 2009 to guard against losses. Berry Petroleum is cheap. It trades at only 3.9x forward earnings. Company Description [...]

(BRY) Berry Petroleum Company – Value – Zacks Rank Buy

(PVA) – Penn Virginia – Consensus Estimates Rise for Third Quarter and the Full Year

Shawn — Tue, 07 Oct 2008 20:10:04 +0000

Despite falling energy prices, estimates on oil explorer Penn Virginia continue to trend higher. The company beat Wall Street estimates by 28.21% in the second quarter while reporting record production. The company trades with a forward P/E of 13.16. Company Description Penn Virginia Corporation (PVA) is an oil and gas exploration and production company that [...]

(PVA) – Penn Virginia – Consensus Estimates Rise for Third Quarter and the Full Year

(EAC) – Encore Acquisition – surprised on estimates 4 consecutive quarters by an average of 16.44%

Shawn — Tue, 07 Oct 2008 19:59:01 +0000

Encore Acquisition saw revenues soar 96% in the second quarter on the back of record crude prices. But even as crude prices have retreated, the company isn’t a one quarter wonder. It has surprised on estimates 4 consecutive quarters by an average of 16.44%. Encore’s forward P/E is 10.07. Company Description Encore Acquisition Company (EAC) [...]

(EAC) – Encore Acquisition – surprised on estimates 4 consecutive quarters by an average of 16.44%