Oil & Gas Drilling & Exploration
(NE) Noble Corporation Analyst Coverage Initiated at Neutral
We recently initiated coverage on Noble Corporation (NE) with a Neutral recommendation and a $43 target price. Switzerland-based Noble Corporation is a provider of diversified services for the oil and gas industry. The company performs contract drilling services with a fleet...
5Feb2010 | vitalstocks | 0 comments | Continued(DO) Diamond Offshore Drilling Misses Earnings Consensus Badly
Diamond Offshore Drilling Inc. (DO) reported significantly weaker-than-expected fourth quarter 2009 results due to a severe contraction in utilization rate for jackups and high specification floaters. This was further aggravated by an increased income tax expense. Quarterly earnings...
4Feb2010 | vitalstocks | 0 comments | Continued(STO) Statoil ASA to Spin off Retail Arm
The Board of Directors of Norwegian oil major Statoil ASA (STO) has decided to spin off the group’s energy and retail (E&R) business for creating a new ownership structure. The company said that the step will strengthen this business with the new company’s direct access...
4Feb2010 | vitalstocks | 0 comments | Continued(HP) Helmerich & Payne Beats Consensus Estimates
Contract drilling services provider Helmerich & Payne, Inc. (HP) reported solid results for the first fiscal quarter of 2010 (ending December 31, 2009), buoyed by improving rig counts on the back of rebounding commodity prices. Earnings per share, excluding gains from non-operating...
1Feb2010 | vitalstocks | 0 comments | Continued(HP) Helmerich & Payne – Bull of the Day
Helmerich & Payne (HP) is a leading drilling contractor with activities in the U.S. and overseas. The company, with its young, efficient drilling fleet, has been able to snag market share and maintain a relatively higher utilization due to stronger drilling demand and longer...
1Feb2010 | vitalstocks | 0 comments | Continued(PTEN) Patterson-UTI Energy Drilling Rig Count Picks Up
One of the largest onshore contract drillers in the U.S., Patterson-UTI Energy Inc. (PTEN) has declared its Dec. 2009 drill rig count to average 118, up from 104 in the previous month. The company operated 108 rigs in the U.S. and 10 in Canada in December, compared to 96 rigs...
12Jan2010 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Invests in Iraqi West Qurna Phase 2 Oil Field
Statoil ASA (STO), the Norwegian oil major, has decided to invest $1.4 billion in the Iraqi West Qurna Phase 2 oil field over the next four to five years and anticipates booking some reserves from the field. Located in the Basra Governorate, Iraq, the huge West Qurna Phase 2...
11Jan2010 | vitalstocks | 0 comments | Continued(KGS) Quicksilver Gas Services L.P. Buys Alliance Assets
Recently, Quicksilver Gas Services L.P. (KGS) bought the Alliance midstream gathering and treating assets from Quicksilver Resources Inc. (KWK) for a total purchase price of approximately $95 million. The purchase was funded through draws on the company’s senior secured...
8Jan2010 | vitalstocks | 0 comments | Continued(MWE) MarkWest Energy Partners LP Sells Starfish Stake
Natural gas pipeline operator MarkWest Energy Partners LP (MWE) announced the sale of its 50% non-controlling interest in the Star?sh Pipeline Company LLC to Enbridge Offshore (Gas Transmission) LLC, a unit of Canadian energy company Enbridge Inc. (ENB). The financial terms of...
5Jan2010 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Enters Agreement Raising Stake in Iraqi Oil Field
Norwegian oil major Statoil ASA (STO) has increased its ownership stake in the Iraqi super giant West Qurna Phase 2 oil field by entering into an agreement with Russia’s Lukoil Holdings. Following the agreement, Statoil’s share rose to 25% from 15%, while Lukoil’s stake...
30Dec2009 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Gaining Impetus at Snorre
Statoil ASA (STO) plans to achieve its goal of stable NCS (Norwegian Continental Shelf) volumes through a combination of active exploration efforts for new reserves and effective field management of existing producing assets. The company plans to spend around NOK 5.0 billion...
29Dec2009 | vitalstocks | 0 comments | Continued(PBR) Petroleo Brasileiro S.A. Buys Ethanol Plant Stake
Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. announced the purchase of interest in an ethanol plant for 150 million Brazilian reals ($84 million). The acquisition consists of a 40.4% stake in the Total Agroindustria Canavieira-owned ethanol mill located...
29Dec2009 | vitalstocks | 0 comments | Continued(RBS) Royal Bank of Scotland Selling Non-Core Assets
Pursuant to the European Commission (EC) approval of its restructuring plan, the Royal Bank of Scotland (RBS), is selling its non-core businesses in select markets to shore up its financial standing. As part of the restructuring plan, Royal Bank intends to sell its 51% stake...
29Dec2009 | vitalstocks | 0 comments | Continued(WMB) Williams Companies and PG&E Corp Get FERC OK For LNG Terminal and Pipeline
Pacific Connector Gas Pipeline LP, a limited partnership between Williams Pacific Connector Gas Pipeline LLC, PG&E Strategic Capital Inc. and Fort Chicago LNG II U.S. LP, announced that it has received approval from the Federal Energy Regulatory Commission (FERC) to construct...
28Dec2009 | vitalstocks | 0 comments | Continued(KGS) Quicksilver Gas Services LP Sees Volume Growth in 2010
Quicksilver Gas Services LP (KGS) recently announced that it will gather and process greater volumes of natural gas in 2010, compared to 2009 levels, due to its recent acquisition of the Alliance midstream assets from its parent company, Quicksilver Resources Inc. (KWK). Quicksilver...
27Dec2009 | vitalstocks | 0 comments | Continued(RIG) Transocean Ltd. Earns Three Year Deal
The world’s largest offshore driller, Transocean Ltd. (RIG), announced the award of a three-year contract for its GSF Celtic Sea moored deepwater semisubmersible rig from an undisclosed customer. The vessel, which can operate in water depths up to 5,750 feet and drill wells...
22Dec2009 | vitalstocks | 0 comments | Continued(STO) Statoil ASA – Bull of the Day
Statoil ASA (STO) is gaining momentum with the start-up of operations on several new oil and gas fields. The growing share of natural gas in the company’s NCS (Norwegian Continental Shelf) volume mix enables it to play a leading role in the European natural gas market. A...
22Dec2009 | vitalstocks | 0 comments | Continued(EC) Ecopetrol S.A. – Exploratory Oil and Gas Production Up 14%
Ecopetrol S.A. (EC) estimates are climbing and the company recently laid out its 2010 investment plan, that includes an 11% increase. Company Description Ecopetrol is a Colombian petroleum company. The company extracts, collects, treats, stores and pumps oil and gas. $7 Billion...
18Dec2009 | vitalstocks | 0 comments | Continued(ESV) Another Newbuild for ENSCO International
ENSCO International Inc. (ESV) expects to take delivery of the third of seven ENSCO 8500 Series ultra-deepwater semisubmersible drilling rigs (ENSCO 8502) in early 2010. This follows the builder’s (Keppel FELS Limited of Singapore) assurance that the manufacture is on time...
8Dec2009 | vitalstocks | 0 comments | Continued(PBR) Petrobras Brasileiro SA – Bull of the Day
Petrobras Brasileiro SA (PBR), the largest integrated energy firm in Brazil, stands to benefit from its country’s economic growth and huge pre-salt oil reserves. The company recently reported a better-than-expected third-quarter, helped by strong downstream results that...
24Nov2009 | vitalstocks | 0 comments | Continued(ARD) Arena Resources Incorporated – Exploration Companies Are Back In Favor
Arena Resources Inc. (ARD) has posted big gains over the last 8 months on strong earnings and elevated energy prices. Company Description Arena Resources, Inc. engages in the exploration and production of oil and natural gas properties in the united States. The company was founded...
24Nov2009 | vitalstocks | 0 comments | Continued(HP) Helmerich & Payne’s Profit Declines
Contract drilling services provider Helmerich & Payne, Inc. (HP) reported solid fourth quarter results, buoyed by improving rig counts on the back of rebounding commodity prices. Earnings per share, excluding gains from non-operating items, came in at 47 cents, marginally...
20Nov2009 | vitalstocks | 0 comments | Continued(PBR) Petroleo Brasileiro S.A.’s Profit Exceeds Estimates
Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. announced encouraging third quarter results, helped by strong performance from the Supply segment. Earnings per ADR came in at R$1.66 (96 cents), comfortably beating the Zacks Consensus Estimate of 80 cents....
19Nov2009 | vitalstocks | 0 comments | Continued(MWE) MarkWest Energy Partners L.P. Profit Report Lags Estimates
MarkWest Energy Partners L.P. (MWE), a master limited partnership (MLP), reported weaker-than-expected third quarter results. Earnings per unit came in at 13 cents, which fell way short of the year-ago result at $3.24 and also missed the Zacks Consensus Estimate of 15 cents....
17Nov2009 | vitalstocks | 0 comments | Continued(DEJ) Dejour Enterprises’ Outlook Improves After Earnings Miss
Dejour Enterprises, Ltd. (DEJ) reported a loss of $0.03 Canadian (or CAD) per share for the quarter ended September 30, 2009, which was below our expectations of a loss of CAD 0.02 per share. The difference was primarily attributable to shut-in gas, which substantially exceeded...
16Nov2009 | vitalstocks | 0 comments | Continued(PBR) Brazil is Set for An End-of-Year Economic Samba – Join The Dance
This analysis is from Martin Denholm, Senior Editor, Investment U Monday, November 16, 2009 A GDP growth rate of 9% would be an impressive performance over the course of a year. But it’s nothing short of outstanding over just one quarter. Yet that’s the projected fourth...
16Nov2009 | InvestmentU | 0 comments | Continued(PDE) Pride International Tops Estimates Despite Low Utilizations
Pride International Inc. (PDE) reported its third quarter results of 48 cents per share, compared to the Zacks Consensus Estimate of 42 cents and the year-earlier earnings of 82 cents. Before adjusting one-time items, the earnings were 45 cents. While the earnings came in above...
9Nov2009 | Shawn | 0 comments | Continued(STO) Statoil ASA Slips, but Volumes up
Statoil ASA (STO) reported its third quarter results of 38 cents per share, compared to the Zacks Consensus Estimate of 40 cents and in line with the year-earlier quarter earnings. Revenue for the quarter was NOK 123.1 billion ($20.1 billion), down 29% year over year. Though...
8Nov2009 | vitalstocks | 0 comments | Continued(PTEN) Patterson-UTI Net Falls – But Report Beats Views
Patterson-UTI Inc. (PTEN) reported a narrower-than-expected third-quarter loss of 12 cents per share, reflecting a recovery in rig demand as customers prepare for ramped up drilling activities in 2010. The Zacks Consensus Estimate was pegged at a loss of 16 cents per share. In...
8Nov2009 | vitalstocks | 0 comments | Continued(NE) Noble Corporation’s 3Q Profit Rises
Noble Corporation (NE) reported third quarter 2009 earnings of $1.58 per diluted share, beating the Zacks Consensus Estimate of $1.54 and year-earlier earnings of $1.42. The improved results were driven by the contribution from Contract Drilling Services segment and cost-control...
27Oct2009 | vitalstocks | 0 comments | Continued