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February 26, 2014
04:55 EDTBBG, BBG, BBG, CXO, CXO, CXO, XEC, XEC, XEC, ROSE, ROSE, ROSE, PES, PES, PES, MPC, MPC, MPC, CLMT, CLMT, CLMT, ANR, ANR, ANR, CRR, CRR, CRR, PXD, PXD, PXD, RRC, RRC, RRC, NFX, NFX, NFX, GDP, GDP, GDP, DNR, DNR, DNRSimmons to hold a conference
14th Annual Energy Conference is being held in Las Vegas on February 26-28.
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September 16, 2014
08:15 EDTPESPioneer says there are accretive growth opportunities in four service lines
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07:42 EDTPESDeutsche Bank to hold a conference
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07:37 EDTBBGBill Barrett cuts FY14 oil production to 26%, total production to 9.4-9.8 MMBoe
This reduces previous guidance by approximately 1.4 MMBoe, approximately 10% oil, as a result of production attributable to sold assets. It also narrows the previous guidance range toward the lower end of the range, primarily as a result of natural gas production year-to-date. Third quarter of 2014 total production is expected to range between 2.6-2.7 MMBoe. 2014 exit rate production is expected to be approximately 21 MBoe/d. Capital expenditures of $525-$550 million, narrowed to the upper end of previous estimates, primarily as a result of an increased well count in the Uinta Oil Program, due to faster drilling times, and the increased working interest acquired in the Northeast Wattenberg. Lease operating expenses of $58-$62 million. The Company was on track to the mid-point of previous guidance and the adjustment reflects only these asset sales. The run-rate in the fourth quarter of 2014 is expected to approximate $6.50 per Boe, reflecting the higher proportion of oil in the production mix. Gathering, transportation and processing expenses of $36-$37 million. This reflects a significantly reduced fourth quarter run-rate of $1-$2 million total for the quarter. Certain obligations associated with firm natural gas gathering and transportation agreements are expected to be written-off in the third quarter of 2014. The Company may record non-cash charges in the third quarter of 2014 associated with certain of these transactions, including the write-offs of the company's Ruby Pipeline and other firm transportation agreements for an estimated $128M, subject to final review of financial reporting requirements and estimated losses on property sales totaling approximately $100M. The company expects that the transactions will not incur a material current tax liability.
07:35 EDTBBGBill Barrett announces $757M divestiture of Power River, Piceance properties
Bill Barrett announced that it has signed purchase and sale agreements with several undisclosed purchasers for the sale of the majority of its Powder River Basin acreage and the company's remaining position in the Gibson Gulch natural gas program in the Piceance Basin. The transactions include an acreage exchange whereby Bill Barrett Corporation acquires 7,856 net acres and 390 barrels of oil equivalent per day net production within the southern block of its operated Northeast Wattenberg area in exchange for acreage in the Powder River Basin. The total value of the transactions is $757M and includes $568M in cash proceeds, $69M estimated value for assets acquired in an exchange, $36M for the assumption by a purchaser of a lease financing obligation and $84M in future commitments assumed by a purchaser for natural gas firm gathering and transportation obligations. The company expects to reduce its debt to $450M from $1.1B, pro forma as of June 30, 2014. It also anticipates that 2014 exit rate production will have a commodity mix that is more than 70% oil. The asset sales include 46,510 net acres in the Powder River Basin with net production that averaged 1,479 Boe/d in the second quarter of 2014 and proved reserves of 4.2 MMBoe at year-end 2013, and 12,000 net acres in the Piceance Basin with net production that averaged 80 million cubic feet natural gas equivalent per day in the second quarter of 2014 and proved reserves of 438 billion cubic feet natural gas equivalent at year-end 2013. These assets provided 33% of field level cash flow in the second quarter of 2014. The Company plans to sell its remaining Powder River Basin position, which includes 17,649 net acres and 170 Boe/d of production, based on the second quarter of 2014 results.
07:22 EDTBBGVanguard sees Bill Barrett deal 'immediately accretive' to cash flow at closing
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07:17 EDTBBGVanguard Natural acquires natural gas, oil, NGLs for $525M from Bill Barrett
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September 15, 2014
14:04 EDTANRChina coal rules won't materially suppress demand, says Brean Capital
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13:58 EDTANRChina to ban imports of dirtier coal, Reuters reports
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09:59 EDTMPCOn The Fly: Analyst Downgrade Summary
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08:29 EDTMPCMarathon Petroleum downgraded to Sector Perform from Outperform at Howard Weil
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08:11 EDTANRAlpha Natural reconfirms coal shipment guidance
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07:23 EDTPXDHart Energy to hold a conference
2014 DUG Eagle Ford Conference to be held in San Antonio, California on September 15-17.
September 11, 2014
10:49 EDTNFXHigh option volume stocks
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10:00 EDTNFX, GDPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Airgas (ARG) initiated with a Neutral at Northcoast... CBOE Holdings (CBOE) initiated with a Buy at Deutsche Bank... CME Group (CME) initiated with a Buy at Deutsche Bank... Colfax (CFX) initiated with a Neutral at Northcoast... Corporate Office Properties (OFC) initiated with an Overweight at Capital One... Edwards Lifesciences (EW) initiated with a Buy at Sterne Agee... Energen (EGN) initiated with a Buy at Deutsche Bank... Goodrich Petroleum (GDP) initiated with an Outperform at Cowen... GreenHunter Resources (GRH) initiated with a Hold at Stifel... GrubHub (GRUB) initiated with a Market Perform at Barrington... Illinois Tool Works (ITW) initiated with a Neutral at Northcoast... IntercontinentalExchange (ICE) initiated with a Hold at Deutsche Bank... JD.com (JD) initiated with a Buy at Brean Capital... Lincoln Electric (LECO) initiated with a Buy at Northcoast... Live Nation (LYV) initiated with a Buy at Jefferies... Medtronic (MDT) initiated with a Neutral at Sterne Agee... Midstates Petroleum (MPO) initiated with a Market Perform at Cowen... NASDAQ (NDAQ) initiated with a Hold at Deutsche Bank... Newfield Exploration (NFX) initiated with an Outperform at Iberia... Newpark Resources (NR) initiated with an Outperform at Credit Suisse... Nuverra Environmental (NES) initiated with a Buy at Stifel... Palo Alto (PANW) initiated with a Buy at Roth Capital... Petrobras (PBR) initiated with an Outperform at Cowen... RSP Permian (RSPP) initiated with a Hold at Deutsche Bank... Sensata (ST) initiated with an Equal Weight at Morgan Stanley... Stage Stores (SSI) initiated with a Neutral at Credit Suisse... Synergy Resources (SYRG) initiated with an Outperform at Cowen... TE Connectivity (TEL) initiated with an Overweight at Morgan Stanley... Twitter (TWTR) initiated with a Buy at Canaccord... Walter Investment (WAC) initiated with an Underweight at Barclays... Washington REIT (WRE) initiated with an Equalweight at Capital One... Yandex (YNDX) initiated with a Buy at Canaccord... Yara International (YARIY) initiated with a Neutral at Credit Suisse.
10:00 EDTPXDOn The Fly: Analyst Upgrade Summary
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09:10 EDTPXDPioneer Natural upgraded to Outperform from Sector Perform at Howard Weil
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08:14 EDTNFXNewfield Exploration initiated with an Outperform at Iberia
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September 10, 2014
16:21 EDTGDPGoodrich Petroleum initiated with an Outperform at Cowen
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September 3, 2014
13:46 EDTCLMTCalumet Specialty Products falls after earnings, bearish pattern active
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08:51 EDTPESPioneer says all 4 core service lines have accretive growth opportunities
In terms of its estimated FY15 delivery dates, the company says that it expects two rigs in Q2, two rigs in Q3 and one rig in Q4. Says adding nine well servicing rigs, six wireline units and four coiled tubing units in FY14. Says adding 16 well servicing rigs and eight wireline units in FY15. Says executed five new build drilling rig contracts for delivery in FY15. Comments taken from slides from the company's Barclays CEO-Energy Conference presentation.
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