Oil & Gas Drilling & Exploration
(EC) Roche Holdings Gets FDA Panel View on Avastin
Roche Holdings Ltd. (RHHBY) recently announced that the US Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee (ODAC) has recommended that the agency should withdraw its approval for...
(PBR) Petrobras and Partners Strike Oil
Brazilian oil giant Petroleo Brasileiro S.A. or Petrobras (PBR) announced the discovery of two levels of high-quality crude oil at a well in the country’s ultra deepwater pre-salt Campos...
(STO) Statoil ASA Focuses on Offshore Wind
Norway-based Statoil ASA (STO), through its subsidiary, has signed two contracts for the sale of a major part of its key onshore wind power assets. This forms a part of Statoil’s endeavors to concentrate...
(STO) Statoil ASA Awarded Contract for Subsea Compression
Statoil ASA (STO) has awarded a contract to Aker Solutions for subsea compression topside modifications on the Statoil-operated Asgard A and B platforms in the North Sea. The contract is worth NOK 650 million...
(PBR) Petroleo Brasileiro S.A. Evenly Poised
We have maintained our Neutral recommendation on Brazilian state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. with a price target of $35.
We believe that continued...
(RDC) Rowan Companies Concludes LeTourneau Sale
Rowan Companies, Inc. (RDC) wrapped up the asset sale deal with a leading mining equipment maker, Joy Global Inc. (JOYG) for its manufacturing...
(RIG) Transocean: Blame it on BP!
In an internal investigation report, drilling contractor Transocean Ltd (RIG) – the owner and operator of Deepwater Horizon oil rig at the heart of the Gulf of Mexico (GoM) disaster –...
(STO) Statoil Sets Long-Term Goals
Statoil ASA (STO) has set long-term growth goals for itself. The Norwegian company expects production to exceed 2.5 million barrels of oil equivalents per day in 2020 from 1.9 million barrels in 2010.
For...
(STO) Statoil ASA to Use Subsea Compression
Statoil ASA (STO) is on track to boost its gas recovery rate at subsea wells in various fields. Accordingly, the Norwegian company plans to implement subsea compression — an advanced process for production...
(PBR) Petrobras Acquires Stake in Gabon
Brazilian oil giant Petróleo Brasileiro S.A. or Petrobras (PBR) has acquired 50% stake in two exploration blocks offshore Gabon. The company did not disclose the financial details of the deal, which was executed...
(STO) Statoil ASA Reaches Leismer Milestone
Norwegian operator Statoil ASA (STO) has reached a production milestone of 1 million barrels of oil at its Leismer Demonstration Project (LDP) in northern Alberta, Canada.
Although oil sands require...
(STO) Statoil ASA to Offload Gassled Stake
Statoil ASA (STO) announced plans to divest majority of its stake in the Gassled joint venture for 17.35 billion kroner, or about $3.25 billion, in an effort to streamline its portfolio. The deal is subject...
(PBR) Petrobras: Another Strong Quarter
Brazilian state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A., announced its first quarter earnings of R$10,985.0 million or R$0.84 per share, compared with R$7,726.0 million or R$0.88...
(NBR) Nabors Industries Scrapes Through 2011 First Quarter
North America’s largest onshore oil and natural gas driller Nabors Industries Ltd (NBR) reported marginally better-than-expected first quarter results on the back of strong North American onshore activity...
(RDC) Rowan Companies Beat Estimates on Bottom Line
Rowan Companies Inc. (RDC) recorded adjusted first-quarter 2011 earnings of 49 cents per share, breezing past the Zacks Consensus Estimate of 30 cents but showing deterioration from the year-earlier profit...
(RIG) Transocean Reports Drops in Rigs in Status Update
In the April fleet update report, Transocean Ltd. (RIG) announced that it has stacked one deepwater rig, Transocean Richardson and two midwater floaters, Sedco 601 and J.W. McLean, due to drop in demand. The...
(STO) Statoil ASA and BP in Algeria’s In Salah Southern Fields Gas Project
Norway’s Statoil ASA (STO), along with its partners BP Plc (BP) and Algeria’s state energy company Sonatrach, have entered into a $1.15...
(RDC) Rowan Companies Analyst Reiterates Shares at Neutral
We maintain our Neutral recommendation on Rowan Companies Inc. (RDC) given its impressive fourth-quarter 2010 results, which comfortably beat both earnings and revenue estimates. We remain on the sidelines...
(HP) Helmerich & Payne Incorporated – Bull of the Day
With the industry requiring increasingly complex well designs, there is high demand for modern, technologically sophisticated rigs. Given its newest and most technologically-advanced land rig fleet, Helmerich & Payne (
31Mar2011 | vitalstocks | 0 comments | Continued(RIG) Transocean Fourth Quarter 2010 Earnings Scorecard
Late last month, offshore drilling giant Transocean Inc. (RIG) announced its financial results for the fourth-quarter and year-end 2010.
Now that the analysts have had some time to...
(LNG) Stock Market News for March 14, 2011 – Market News
On Friday, markets overcame fears of any near-term slide in the wake of global issues to end higher as materials and energy helped the indices post gains. The mass destruction caused by the earthquake and tsunami in the third largest economy of the world, Japan, failed to...
(AHD) Company News for March 08, 2011 – Corporate Summary
• Ciena Corp. (NASDAQ:CIEN) reported a Q1 loss of $0.14 per share, lower than the Zacks Consensus Estimate of a loss of $0.30 per share
8Mar2011 | vitalstocks | 0 comments | Continued(RIG) Transocean Earnings Report Lags Estimates
Global offshore drilling contractor Transocean Inc. (RIG) reported weak fourth quarter and full-year 2010 results, affected by reduced utilization rates and lower average daily revenue along...
(PDE) Pride International’s Quarterly Report Falls Short
Pride International Inc. (PDE) reported depressed fourth-quarter and full-year 2010 results, hurt by higher operating expenses.
The company’s quarterly earnings, excluding one-time items, of 40 cents...
(CLR) Shale Oil Investments Profitable at $50 a Barrel – The US Shale Oil Boom
by Tony D’Altorio, Investment U Research
Wednesday, January 5, 2011
Thanks...
(RDC) Rowan Companies Analyst Maintains Neutral Rating on Shares
We maintain our Neutral recommendation for Rowan Companies Inc. (RDC) following better-than-expected third-quarter results. Revenue was up more than 11% year over year. The company is confident of adding backlog...
(PBR) Petrobras Brasileiro Scores Light Oil in Espirito Santo
Brazilian state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A., announced the discovery of light oil in the country’s Espírito Santo Basin. The new well – the deepest...
(RIG) Transocean Agrees to Pay $195 Million for New Rig
World’s largest offshore driller Transocean Inc. (RIG) has agreed to buy a shallow water jackup rig being built by Singaporean outfit Sembcorp Marine’s subsidiary, PPL Shipyard for $195 million. The high-specification...
(PTEN) Helmerich & Payne Reports Strong Fourth Quarter Earnings
Contract drilling services provider, Helmerich & Payne Inc. (HP) reported solid results for the fourth fiscal quarter of 2010 (three months ended September 30, 2010). As has been the case...
(PBR) Petroleo Brasileiro Announces A New Discovery of Light Oil
Brazilian state controlled energy company Petroleo Brasileiro (PBR) or Petrobras announced the discovery of light oil in sandstone reservoirs to the south of Santos Basin. However, the company did not disclose...