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February 1, 2013
10:01 EDTARP, ZTS, SFLY, OIS, NBR, EW, SPN, PDS, OII, NCS, NILE, SSH, PTEN, NOV, HPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Blue Nile (NILE) initiated with an Outperform at Wells Fargo... Edwards Lifesciences (EW) initiated with a Buy at Janney Capital... Helmerich & Payne (HP) initiated with a Neutral at Credit Suisse... NCI Building Systems (NCS) initiated with a Buy at BB&T... Nabors Industries (NBR) initiated with an Underperform at Credit Suisse... National Oilwell (NOV) initiated with a Neutral at Credit Suisse... Oceaneering (OII) initiated with a Neutral at Credit Suisse... Oil States (OIS) initiated with an Outperform at Credit Suisse... Patterson-UTI Energy (PTEN) initiated with a Neutral at Credit Suisse... Precision Drilling (PDS) initiated with a Neutral at Credit Suisse... Shutterfly (SFLY) initiated with a Market Perform at Wells Fargo... Sunshine Heart (SSH) initiated with an Overweight at Piper Jaffray... Zoetis (ZTS) initiated with a Buy at ISI Group... Superior Energy (SPN) initiated with an Outperform at Credit Suisse... Atlas Resource Partners (ARP) initiated with a Neutral at Citigroup.
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October 7, 2015
11:28 EDTNOVNational Oilwell receives favorable verdict from jury in employment lawsuit
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08:57 EDTPTENPatterson-UTI remains favorite name in drilling, says Cowen
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October 5, 2015
15:15 EDTEWStudy finds potential stroke risk with prosthetic heart valves
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06:10 EDTPTENPatterson-UTI reports September average of 99 drilling rigs operating in U.S.
Patterson-UTI reported that for the month of September, the company had an average of 99 drilling rigs operating in the United States and four rigs in Canada. For the three months ended September 30, the company had an average of 105 drilling rigs operating in the United States and four rigs in Canada.
September 30, 2015
18:28 EDTNBRCourt says Interior Department lacks authority for fracking rule, WSJ reports
A federal court judge ruled that the Interior Department lacked the authority to institute a stricter rule on fracking, reports the Wall Street Journal, citing Judge Scott Skavdahl's preliminary injunction. Publicly traded companies in the space include Baker Hughes (BHI), IHS Inc. (IHS), Halliburton (HAL), Nabors Industries (NBR), and Weatherford (WFT). Reference Link
September 29, 2015
17:05 EDTOIIOceaneering announces vessel services agreement
Oceaneering announced that its subsidiary Oceaneering International GmbH has entered into a two-year, subsea field support vessel services agreement with an oil and gas company in India for use of the Island Pride. Anticipated commencement date is in November 2015 upon completion of the vessel's mobilization from the U.S. Gulf of Mexico. The contract provides for four option periods of six months each, exercisable by the Indian company. The Island Pride is a state-of-the-art, multi-service vessel built in 2014. It has an overall length of approximately 340 feet; a Class 2 dynamic positioning system; accommodations for 94 persons; a helideck; a 125-ton active heave compensated crane; and a working moonpool. The vessel is outfitted with two Oceaneering work class remotely operated vehicles and survey and satellite-based positioning equipment provided by Oceaneering's recently acquired subsidiary, C & C Technologies. In addition, the vessel is equipped with a satellite communications system capable of transmitting streaming video for real-time work observation by shore personnel. The vessel is expected to be used to perform subsea inspection, maintenance, and repair projects, light construction, and pre- and post-installation surveys.
09:29 EDTNBRDeutsche Bank to hold a conference
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September 28, 2015
11:31 EDTNBR, HPDeutsche Bank sees bottom nearing for offshore drillers, upgrades two in space
Detusche Bank upgraded Diamond Offshore (DO) and Transocean (RIG) to Hold from Sell, saying that the companies should be boosted by upcoming reductions in the number of drilling rigs deployed by energy companies. WHAT'S NEW: As many as 180 drilling vessels may cease activity over the next 12-18 months, wrote Deutsche Bank analyst Mike Urban today. The energy sector seems to have become "more realistic" about the need to reduce supply and the offshore drilling industry is "on the cusp of a major restructuring" that should mark the bottom for valuations and pricing, he explained. Addressing the long-term outlook of deepwater drilling, Urban contended that the consensus outlook, which predicts that deepwater drilling will disappear, is incorrect. In ten years, there will be demand for 320 floating rigs, versus the 225 that are active today, Urban predicted. Over the long-term ,energy companies will have to "go where the oil is," and the oil is located in deep water, the analyst explained. He raised his price target on Diamond to $21 from $17 and on Transocean to $10 from $6. WHAT'S NOTABLE: A former executive at Petrobras (PBR) testified to receiving payments made by someone claiming to be an agent of Transocean in exchange for a rig-operation contract, linking the offshore rig contractor for the first time to the corruption probe of Brazil's state-run oil company, reported Bloomberg on September 24. The news outlet cited testimony from last month as its source for the story. Subsequently, Transocean said that it had not identified any wrongdoing by its employees vis-a-vis Petrobras and is "committed to doing business lawfully and with the highest ethical standards." PRICE ACTION: In morning trading, Diamond fell 4% to $17.62 and Transocean lost 1.75% to $12.36. OTHERS TO WATCH: Other oil and gas well drillers include Helmerich & Payne (HP), Ensco (ESV), Nabors Industries (NBR) and Seadrill (SDRL), all of which are in negative territory this morning.
10:37 EDTSPN, NOVAnalysts sees upside for Halliburton as Baker Hughes deal moves forward
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07:25 EDTOISJohnson Rice to hold a conference
2015 Johnson Rice Energy Conference is being held in New Orleans, Louisiana on September 28-30.
06:36 EDTZTSZoetis recent pullback a good buying opportunity, says Piper Jaffray
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September 23, 2015
07:53 EDTEWUBS medical supplies & devices analyst holds an analyst/industry conference call
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