The stocks of exploration and production (E&P) companies are set to appreciate 25% to 35% in the next 12 months, making it time for investors to buy, according to Raymond James Energy’s latest Stat of the Week.
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E&P Stocks Forecast to Appreciate 25-35% Over Next 12 Months
The stocks of exploration and production (E&P) companies are set to appreciate 25% to 35% in the next 12 months, making it time for investors to buy, according to Raymond James Energy’s latest Stat of the Week.
Brutal Chill to Send Gas Bills Up, Up and Away
Any skepticism over a “Siberian Express” arctic cold front making a stop in the Lower 48 was quickly wiped away last week as temperatures plummeted into the teens, 20s and low 30s across much of the Northeast, Midwest and Midcontinent. The only question left was just how long it would be parked over the central and eastern regions of the United States.
Devon to Acquire Mitchell Energy for $3.1 Billion
Devon Energy Corp. of Oklahoma City, OK, announced Tuesday that it will acquire Mitchell Energy & Development Corp. for $3.1 billion in cash and stock, making it the second largest independent natural gas producer in the United States after Anadarko Petroleum Corp.
FERC Faced With Decision on Competing Long Island Pipes
The Federal Energy Regulatory Commission should be making a decision soon on competing projects to send more gas into the New York City/Long Island market, and the sponsors of both projects are optimistic their pipeline will be selected.
NiSource Restructures Management to Stay Competitive
NiSource is making some of the last remaining organizational changes since it bought Columbia Energy Group two years ago, announcing actions last week to reduce the size of its management structure. Under the plan, the streamlining will move executive management closer to customers and promote efficiency while lowering costs in response.
Independents Capture High Bid, Most Bids in Western GOM Lease Sale
Three independent producers led the way in making bids in the Western Gulf of Mexico Lease Sale 184, and two other independents had the highest bids in the sale held Wednesday by the Minerals Management Service (MMS) in New Orleans. The sale attracted $151 million in high bids, and 40 companies participated in bidding for 4,102 offshore oil and gas tracts. The sale covered approximately 22.3 million acres offshore Texas and Louisiana. Kerr-McGee Oil & Gas Corp. submitted the most bids at 53, followed by Amerada Hess with 52 and Pioneer Natural Resources with 42.
FERC Faced With Decision on Competing Long Island Pipes
The Federal Energy Regulatory Commission should be making a decision soon on competing projects to send more gas into the New York City/Long Island market, and the sponsors of both projects are optimistic their pipeline will be selected.
Independents Capture High Bid, Most Bids in Western GOM Lease Sale
Three independent producers led the way in making bids in the Western Gulf of Mexico Lease Sale 184, and two other independents had the highest bids in the sale held Wednesday by the Minerals Management Service (MMS) in New Orleans. The sale attracted $151 million in high bids, and 40 companies participated in bidding for 4,102 offshore oil and gas tracts. The sale covered approximately 22.3 million acres offshore Texas and Louisiana. Kerr-McGee Oil & Gas Corp. submitted the most bids at 53, followed by Amerada Hess with 52 and Pioneer Natural Resources with 42.
More LNG from Trinidad Making Its Way to U.S.
Spanish energy company Repsol-YPF said Monday that it started a second 4.4 billion cubic meter (Bcm) unit at the liquefied natural gas (LNG) plant in Trinidad, bringing total LNG capacity to 8.4 billion cubic meters/year (297 Bcf/year). The company, which owns the plant with operator BP PLC and BG Group PLC, said a shipment of LNG is on its way to CMS’s LNG terminal in Lake Charles, LA.