EnerCom, Inc. compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 185 exploration and production (E&P) and OilService companies in our database. The median OilService company earnings estimate for the quarter ending June 30, 2012, is $0.44 per share compared to actual earnings per share of $0.40 and $0.34 for Q1 2012
Unit Corp. (ticker: UNT) announced signing a Purchase and Sale Agreement to purchase 84,000 net acres and production located in the Anadarko Basin from Noble Energy, Inc. (ticker: NBL) for $617.1 million. Unit will use availability under its existing credit facilities and a new $400MM senior subordinated debt offering to complete this all-cash transaction. The western Oklahoma and Texas Panhandle
Penn Virginia (ticker: PVA) is an exploration and production oil and gas company based in Radnor, PA with district operating offices in Houston, Pittsburgh, and Tulsa. The company has a geographically diverse portfolio of oil, NGL and natural gas assets with producing and/or prospective properties located principally in East Texas, Oklahoma, south central Texas, southern Mississippi, and Appalachia. PVA is
How is value measured? Analysts talk and write about a stock because the company creates value. Does “value” mean “cheap?” Buy low, sell high. That formula is not working with Facebook (ticker: FB) at the moment. That’s more like buy high, short sell, but we recognize that it is early for FB and its “friends.” Yahoo (ticker: YHOO) went public
Callon Petroleum Company (NYSE: CPE) is an independent oil and gas exploration & production (E&P) company operating both offshore and onshore in the United States. The Company generates the majority of its free cash flow from its offshore fields in the U.S. Gulf of Mexico, both on the shelf and in the deepwater regions. Callon has a non-operated interest in
Step One in Floyd Wilson’s [former Petrohawk CEO] new oil and gas business venture was the $500 million recapitalization of RAM Energy Resources, Inc. (formerly ticker: RAM) late in 2011 to form Halcón Resources (ticker: HK). Step Two for the company (after cleaning up the RAM assets) was to accelerate Halcón’s growth by adding a strategic acquisition. HK and GeoResources,
Sanchez Energy (ticker: SN) issued common shares in its December 2011 initial public offering at $22 per share. The shares opened for trading on December 15, 2011, at $18.42 per share. Since the stock reached a low of $16.96 during trading on January 13, 2012, SN’s share price rallied as much as 48.8% reaching $25.23 per share during trading on February 24, 2012.
Resolute Energy Corporation (NYSE: REN) announced a $250 million notes offering. The notes will be general unsecured obligations of the Company and guaranteed on a senior basis by the Company’s existing subsidiaries. Resolute intends to use the net proceeds from the Senior Notes offering to repay indebtedness under its revolving credit facility, which matures in April 2017, to fund a
Core Laboratories (NYSE: CLB) describes itself as “a leading provider of proprietary and patented reservoir description, production enhancement and reservoir management services for the global petroleum industry. These services enable the company’s clients to optimize reservoir performance and maximize hydrocarbon recovery from their producing fields. The company has over 70 offices in more than 50 countries and is located in
Magnum Hunter Resources (MHR) is engaged in the exploration for and the exploitation, acquisition, development and production of crude oil, natural gas and natural gas liquids, in three unconventional shale resource plays in North America: the Marcellus Shale, Utica Shale, Eagle Ford Shale and Williston Basin/Bakken Shale. In total, the company owns approximately 560,072 net acres, with 170,000 net acres
EnerCom, Inc. went back through our database to determine 2008 breakeven prices (10% rate of return) based on EnerCom’s decline curve analysis of the Woodford, Fayetteville, Haynesville and Marcellus Shales. All data points reference the second slide below. We found the Woodford, Fayetteville, Haynesville and Marcellus Shales had respective breakeven points of $6.45 per Mcf, $5.39 per Mcf, $3.62 per
Sanchez Energy Corp. (NYSE: SN) is a pure-play Eagle Ford exploration and production company with 91,000 net acres in the oil and volatile windows of the Eagle Ford shale play. SN’s 2011 year-end reserve report prepared by Ryder Scott showed it increased its proved reserves 118% to 6.7 MMBOE, up from 3.1 MMBOE during 2011. The report also identified 9.2
