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January 24, 2014
07:10 EDTAPC, PDCE, NBL, KOS, GTE, FST, BCEI, BBG, BBEP, QEPMizuho to hold a conference
Mizuho Energy Corporate Access Day is being held in Denver on January 24.
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October 1, 2014
17:03 EDTKOSKosmos estimates Q3 oil revenues $130M-$140M
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16:54 EDTFSTForest Oil says auditor EY includes 'going concern' opinion
Forest Oil Corporation announced that management and the company’s independent auditor, Ernst & Young, EY, have completed the incremental procedures that were previously disclosed on August 11. No restatements to the previously issued financial statements were identified. Forest filed an amended 2013 Annual Report on Form 10-K and amended Quarterly Reports on Form 10-Q for the first and second quarters of 2014 with the SEC on October 1. Although there were no changes to the financial statements for any period presented, these amendments reflect, among other items, revised opinions and disclosures on internal controls over financial reporting and a modified financial statement opinion from EY that now includes a “going concern” opinion due to the fact that, as previously disclosed, Forest has determined that by year-end 2014 the ratio of its total debt to EBITDA may exceed the maximum allowed under its bank credit facility. Please refer to the amended Annual Report on Form 10-K for a more complete discussion.
08:46 EDTNBLNoble Energy to resume exploration drilling in Falklands in 2015
Noble Energy confirmed plans to resume exploration drilling in the Falkland Islands in 2015 following the acquisition and evaluation of an extensive 3D seismic program over portions of the Company's 10 million acre position. The company's initial operated prospect has been named Humpback and is located in the Fitzroy sub-basin of the Southern Area License. The Humpback prospect is one of multiple stacked fan prospects clustered together in the sub-basin. This group of prospects combined has an estimated gross unrisked resource potential of approximately 1B barrels of oil equivalent. The company anticipates drilling operations at Humpback to begin in mid-2015, dependent on rig arrival. Noble Energy is currently finalizing prospect locations for a second exploration well, planned for later in 2015 following results at Humpback. Noble Energy operates its licenses offshore the Falkland Islands with a 35 percent working interest. In addition, the Scotia well, which was drilled in 2012 utilizing 2D seismic interpretation, has now been deemed non-commercial following evaluation of the 3D seismic data and full integration of well results into the company's geologic models. Noble Energy has updated its guidance for third quarter 2014 exploration expense to between $230M-$240M, including approximately $75M related to the Scotia well decision. Due to the increased exploration expense, the company expects its third quarter 2014 adjusted effective tax rate to be 35%-38%, with most of the tax provision representing current taxes.
September 29, 2014
07:11 EDTAPCAnadarko's tax asset from Tronox may be worth $3+ per share, says Credit Suisse at Credit Suisse
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September 23, 2014
17:58 EDTBBGCDK Global set to join S&P MidCap 400, Bill Barrett to join S&P small cap 600
CDK Global Inc. (CDKVV) will replace Bill Barrett (BBG) in the S&P MidCap 400, and Bill Barrett will replace ITT Educational Services (ESI) in the S&P SmallCap 600 after the close of trading on Tuesday, September 30. S&P 500 constituent Automatic Data Processing (ADP) is spinning off CDK Global in a deal expected to be completed on that date. Bill Barrett's market capitalization is below $1.2B, making it more representative of the small cap market space. ITT Educational Services is ranked at the bottom of the S&P SmallCap 600. CDK Global provides integrated information technology and digital marketing solutions to retail locations and manufacturers. Headquartered in Hoffman Estates, IL, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index. Bill Barrett acquires, explores, and develops oil and natural gas resources. Headquartered in Denver, CO, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Exploration & Production Sub-Industry index.
17:27 EDTBBGCDK Global Inc. to replace Bill Barrett in S&P 400 as of 9/30 close
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17:22 EDTBBGBill Barrett to replace ITT Educational in S&P 600 as of 9/30 close
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September 22, 2014
20:44 EDTBBGBill Barrett management to meet with SunTrust
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11:42 EDTBBEPBreitBurn Energy sees second half adjusted EBITDA $235M-$255M
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10:15 EDTBBGOn The Fly: Analyst Upgrade Summary
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08:15 EDTBBGBill Barrett upgraded at BMO Capital
As noted earlier, BMO Capital upgraded Bill Barrett to to Market Perform from Underperform. The firm thinks recent moves made by the company results in a more focused and oil-weighted asset portfolio. Target raised to $23 from $19.
07:27 EDTGTEIndependent Petroleum Association of America to hold a conference
IPAA OGIS San Francisco on September 22-24.
06:33 EDTBBGBill Barrett upgraded to Market Perform from Underperform at BMO Capital
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September 19, 2014
10:28 EDTPDCEPDC Energy settlement removes legal overhang, says Wells Fargo
Wells Fargo says PDC Energy's class action settlement removes a legal overhang and ongoing expenses. Wells believes the $11.5M settlement came in largely below expectations. It keeps an Outperform rating on the stock.
09:02 EDTPDCEPDC Energy agrees to settle settle securities class action
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September 18, 2014
07:38 EDTAPCUBS to hold a conference
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