Oil & Gas Drilling & Exploration

(STO) Statoil ASA to Procure FSO Unit

Norwegian major Statoil ASA (STO) announced that it would procure a floating storage and offtake (“FSO”) unit from Teekay Offshore Partners L.P. (TOO). The FSO...

22Aug2013 | | Comments Off on (STO) Statoil ASA to Procure FSO Unit | Continued

(RIG) Transocean Updates Fleet Summary

Offshore drilling giant, Transocean Ltd. (RIG) recently issued a Fleet Update Summary for the period commencing Apr 18, 2013 to date. The value of all the new deals and extensions in the same time frame is estimated to be roughly $662...

20Aug2013 | | Comments Off on (RIG) Transocean Updates Fleet Summary | Continued

(BBG) Another Strong Natural Gas Storage Build

The U.S. Energy Department’s weekly inventory release showed a larger-than-expected rise in natural gas supplies – the third in as many weeks – on account of milder-than-seasonal weather. Moreover, on a further bearish note, the build was well ahead of the five-year average levels, thereby...

24Jul2013 | | Comments Off on (BBG) Another Strong Natural Gas Storage Build | Continued

(STO) Statoil ASA U.S. Business to Drive Growth

Norwegian major Statoil ASA (STO) intends to grow in the United States with investments in oil and gas assets valued in excess of $20 billion.

Statoil has high expectations with respect to growth from these assets. In 2012,...

22Jul2013 | | Comments Off on (STO) Statoil ASA U.S. Business to Drive Growth | Continued

(NE) Noble and Statoil ASA in $655 Million Rig Deal

Noble Corp (NE), owner of the world’s third-largest offshore drilling fleet, has been contracted by Statoil ASA (STO) for the construction of a newbuild ultra-high...

6Jun2013 | | Comments Off on (NE) Noble and Statoil ASA in $655 Million Rig Deal | Continued

(NE) Noble Beats First Quarter Earnings – Misses Revenues

Leading contract drilling company, Noble Corporation (NE) reported first quarter 2013 earnings of 59 cents per share. With a boost from multi-regional operational improvements, the results surpassed both the Zacks Consensus Estimate...

3May2013 | | Comments Off on (NE) Noble Beats First Quarter Earnings – Misses Revenues | Continued

(RIG) Transocean Updates Fleet Summary

Offshore drilling giant, Transocean Ltd. (RIG) recently issued a Fleet Update Summary for the period commencing Mar 14, 2013 to date. The value of all the new deals and extensions in the same time frame is estimated to be roughly $1.2...

22Apr2013 | | Comments Off on (RIG) Transocean Updates Fleet Summary | Continued

(STO) Statoil ASA and SOCAR to Explore Caspian

Norwegian giant Statoil ASA (STO) has inked a memorandum of understanding (MoU) with the State Oil Company of the Republic of Azerbaijan – SOCAR.

Per the agreement – signed by the company’s chief executives in Baku –...

18Apr2013 | | Comments Off on (STO) Statoil ASA and SOCAR to Explore Caspian | Continued

(HP) Helmerich & Payne Upgraded to Buy

On Apr 9, Zacks Investment Research upgraded contract drilling services provider Helmerich & Payne Inc. (HP)  to a Zacks Rank #2 (Buy).

Why the Upgrade?

Helmerich & Payne has been witnessing rising...

12Apr2013 | | Comments Off on (HP) Helmerich & Payne Upgraded to Buy | Continued

(RIG) Transocean Updates Fleet Summary

Offshore drilling giant Transocean Ltd. (RIG) recently issued a Fleet Update Summary for the period commencing Feb 14, 2013 to date. The update covers the company’s drilling rig status and contract information.

Per the...

4Apr2013 | | Comments Off on (RIG) Transocean Updates Fleet Summary | Continued

(STO) Statoil ASA Awards $380M Contract

Norwegian energy giant Statoil ASA (STO) awarded a contract to an oilfield services firm Subsea 7 for the development of the Aasta Hansteen gas field in the northern part of Norwegian Sea.

The contract is valued at US$380 million...

6Mar2013 | | Comments Off on (STO) Statoil ASA Awards $380M Contract | Continued

(PTEN) Opportunity at Patterson-UTI

Shares of Patterson-UTI Energy Inc. (PTEN) hit a 52-week high of $24.64 on Feb 19. In fact, the Houston-based onshore contract dealer has seen its stock price climb more than 20% since the beginning of the year.

Despite this...

27Feb2013 | | Comments Off on (PTEN) Opportunity at Patterson-UTI | Continued

(STO) Statoil ASA Starts Exploration Drilling in Nanna Prospect

Norwegian major Statoil ASA (STO) has commenced the drilling of an exploration well at the Nanna prospect in the North Sea off Norway.

The exploration well – 25/11-26 – is being spud by Diamond Offshore Drilling,...

28Jan2013 | | Comments Off on (STO) Statoil ASA Starts Exploration Drilling in Nanna Prospect | Continued

(STO) Statoil ASA – ADR – Bear of the Day

We are downgrading our recommendation on Statoil ASA (STO) ADRs to Underperform from Neutral. The company reported lower-than-expected earnings in the third quarter, mainly due to high exploration costs and low liquids production with steep...

9Jan2013 | | Comments Off on (STO) Statoil ASA – ADR – Bear of the Day | Continued

(NE) Update on Noble Discoverer

Rig contractor Noble Corporation (NE) announced that it is working on fixing problems with the drillship Noble Discoverer, identified by the US Coast Guard in an inspection, as well as other potential issues the company found in an...

2Jan2013 | | Comments Off on (NE) Update on Noble Discoverer | Continued

(DEJ) Dejour farms out development of West Grand Valley

Dejour farms out development of West Grand Valley

By Steven Ralston, CFA

Dejour Energy (DEJ) announced the execution of an agreement to sell and farm-out approximately...

10Dec2012 | | Comments Off on (DEJ) Dejour farms out development of West Grand Valley | Continued

(NBR) Nabors Industries Ltd.- Bear of the Day

Based upon the number of near-term challenges, we are maintaining our Underperform recommendation on Nabors Industries Ltd. (NBR) shares. The land-drilling contractor is facing headwinds in the pressure pumping market on the back of...

3Nov2012 | | Comments Off on (NBR) Nabors Industries Ltd.- Bear of the Day | Continued

(PBR) Petrobras S.A. – ADR – Bear of the Day

Following the dismal second quarter showing from Petrobras S.A. – ADR (PBR), we are downgrading the Brazilian state-run energy giant to Underperform from Neutral. The Rio de Janeiro-headquartered company recently posted its first...

30Aug2012 | | Comments Off on (PBR) Petrobras S.A. – ADR – Bear of the Day | Continued

(PBR) Petroleo Brasileiro S.A. Digs Up a New Oil Well

Drilling success continued for state-controlled energy firm Petroleo Brasileiro S.A. or Petrobras (PBR), as the company came across high quality oil in the pre-salt deposit of Santos Basin, offshore Brazil.

The...

27Aug2012 | | Comments Off on (PBR) Petroleo Brasileiro S.A. Digs Up a New Oil Well | Continued

(MWE) MarkWest Energy Partners L.P. Closes Unit Offering

Pipeline operator MarkWest Energy Partners L.P. (MWE) announced the closure of its previously announced public offering. MarkWest priced the public offering of 6,900,000 common units at $50.72 a piece, including an over-allotment option...

27Aug2012 | | Comments Off on (MWE) MarkWest Energy Partners L.P. Closes Unit Offering | Continued

(RIG) Transocean Gets Contract Extensions

Recently, offshore drilling giant – Transocean Ltd. (RIG) issued a monthly ‘Fleet Update Summary’ covering the company’s drilling rig status and contract information.

Per the report, the company’s midwater floater...

27Aug2012 | | Comments Off on (RIG) Transocean Gets Contract Extensions | Continued

(PBR) Petroleo Brasileiro S.A. in Rig Deal With Three Firms

State-controlled energy company Petroleo Brasileiro S.A. or Petrobras (PBR) inked a vessel chartering and operating deal with the trio Sete Brasil, Odebrecht S.A. and Etesco.

Per the deal, nine drilling vessels...

14Aug2012 | | Comments Off on (PBR) Petroleo Brasileiro S.A. in Rig Deal With Three Firms | Continued

(PKD) Parker Drilling Company – Value – Cheaper Than Ever!

The energy stocks just keep getting cheaper. Parker Drilling Company (PKD) has seen its shares plunge in 2012 on fears about falling natural gas prices. But that means this Zacks #1 Rank (Strong Buy) is cheaper than ever, with a forward...

9Jul2012 | | Comments Off on (PKD) Parker Drilling Company – Value – Cheaper Than Ever! | Continued

(RIG) Transocean Earnings Miss Bottom Line

Offshore drilling giant Transocean Ltd. (RIG) reported weak fourth quarter and full-year 2011 results, hurt by the lingering effects of Gulf of Mexico tragedy, steeper operating costs and high interest expense.

Earnings per...

27Feb2012 | | 0 comments | Continued

(STO) Statoil ASA Finds Gas Offshore Tanzania

Statoil ASA (STO) along with its partner ExxonMobil Corporation (XOM) has found indications of natural gas in the Zafarani-1 well in Block 2 offshore Tanzania.

The...

23Feb2012 | | 0 comments | Continued

(NBR) Nabors Industries Outperforms in Fourth Quarter

Global land drilling contractor Nabors Industries Ltd. (NBR) reported impressive fourth quarter 2011 results, backed by strong performances by the U.S. Offshore and Pressure Pumping units and lower interest expense.

Earnings...

22Feb2012 | | 0 comments | Continued

(MWE) MarkWest Energy Partners – Bull of the Day

We are upgrading MarkWest Energy Partners (MWE) to Outperform from Neutral, reflecting its promising future prospects. The master limited partnership’s (MLP) targeted growth capital investments since 2006 have been driving its...

13Jan2012 | | 0 comments | Continued

(LNG) Will Natural Gas Rebound This Year?

Among the most commonly asked questions by energy investors this new year is: will low natural gas prices continue in 2012 or will we see a durable rebound in prices from their multi-year plight?

From a peak of about $13.60 per million British thermal units (MMBtu) in 2008 (referring to spot...

8Jan2012 | | 0 comments | Continued

(PBR) Petroleo Brasileiro S.A. Strikes Oil in Santos Basin

Brazilian state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A., announced the discovery of oil in the pre-salt reservoirs of the country’s Santos Basin. The new well reinforces the region’s...

7Dec2011 | | 0 comments | Continued

(RIG) Transocean Tanks on Offering Notice

Offshore drilling giant Transocean Ltd. (RIG) priced a public offering of 26 million shares at $40.50 a piece, with a 30-day over-allotment option for an additional 3.9 million shares.

The Zug, Switzerland-based...

30Nov2011 | | 0 comments | Continued