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August 5, 2014
10:48 EDTROSE, CRRRosetta switch to sand reduces CARBO visibility, says William Blair
William Blair notes Rosetta Resources (ROSE) said yesterday on its earnings call that it would be changing its completion design for Eagle Ford wells by switching from ceramic proppant to sand. The firm says Rosetta is one of CARBO Ceramics' largest customers. It estimates Rosetta uses between 250M-400M pounds per year of ceramic proppant, and believes CARBO management was surprised by the move. William Blair believes the switch reduces CARBO's forward visibility and it lowered its estimates for the company. The firm keeps a Market Perform rating on the stock. Shares of CARBO are down 10% to $109.37 in morning trading.
News For CRR;ROSE From The Last 14 Days
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December 17, 2014
05:11 EDTROSERosetta Resources sees FY15 production 76-82 MBoe/d
Rosetta expects FY15 production to range from 7682 thousand barrels of oil equivalent per day, or MBoe/d. The average oil ratio is expected to be approximately 27%. As part of Rosetta's ongoing risk management, the company recently placed additional hedges for its 2015 forecasted crude oil production. The company added roughly 7,000 barrels of oil per day in the form of costless collars with an average Louisiana Light Sweet, or LLS, floor price of $55 per barrel and an average ceiling of approximately $85 per barrel. Rosetta expects direct lease operating expense, or LOE, unit costs to average from $2.95$3.20 per Boe in 2015. Total LOE, including direct LOE, workover expenses and insurance are anticipated to approximately range from $4.50$4.85 per Boe in 2015.
05:11 EDTROSERosetta Resources sees FY15 capital spending $700M-$800M
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