There appears to be no scarcity of global shale gas opportunities, but it may be two years — or longer — before drilling progresses to commercial success, according to Raymond James & Associates Inc.
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Raymond James Remains Bullish on E&P Sector
The exploration and production (E&P) sector will continue to benefit from “very favorable” industry fundaments as the year progresses because of two factors: strong earnings because of high commodity prices that have far outpaced service costs and “attractive” stock valuations, according to a report by Raymond James’ energy analysts.
Burlington Takeover of Poco Progresses
Burlington Resources Inc. this week filed updated pro forma financial information with the Securities and Exchange Commission (SEC) regarding its pending acquisition of Poco Petroleums Ltd. to include third quarter results of combined operations. Shareholders of Calgary-based Poco yesterday approved the C$2.6-billion takeover that would create North America’s fourth-largest gas producer.
Burlington Takeover of Poco Progresses
Burlington Resources Inc. this week filed updated pro formafinancial information with the Securities and Exchange Commission(SEC) regarding its pending acquisition of Poco Petroleums Ltd. toinclude third quarter results of combined operations. Shareholdersof Calgary-based Poco yesterday approved the C$2.6-billion takeoverthat would create North America’s fourth-largest gas producer.