Dec. 26, 2014, 4:23 PM
- Though most large-cap energy stocks closed the day with modest gains or losses, a slew of small-cap and mid-cap U.S. oil and gas plays sold off on a day that saw WTI crude once more fall below $55/barrel, and Henry Hub natural gas drop below $3/mmBtu for the first time since 2012, before bouncing a little.
- Decliners: EXXI -4.4%. SGY -4.5%. HK -4.1%. EVEP -2.3%. NFX -3.2%. SDR -3.3%. SN -5.2%. SD -5.9%. LGCY -2.2%. CHKR -3.3%.
May. 16, 2014, 9:59 AM
- Chesapeake Granite Wash Trust (CHKR -7.3%) is under pressure after Chesapeake Energy (CHK -3.8%) revealed plans to proceed with a spinoff of its oilfield services operations by the end of next month as it also plans other asset sales.
- Shares are also going ex-dividend today.
- CHKR revenues and distributions depend on the timing of initial sales from CHK's development wells in which the trust receives an interest, as well as the sales volume and prices attributable to the Trust's royalty interests.
Nov. 12, 2013, 3:59 PM| 15 Comments
Oct. 30, 2013, 3:53 PM
- Chesapeake Granite Trust (CHKR -8.2%) is downgraded to Sell from Neutral with an $11 price target, down from $13, at Goldman Sachs, reflecting expectations for weak well results and lower rig count at its sole production area in Washita County, Wash., driving sharply lower volumes and cash distributions to unitholders in coming quarters and years.
- Goldman also expects a less favorable production mix over time, with more low-margin natural gas and less high-margin natural gas liquid and crude oil production.
- The firm sees cash flows only slightly above the subordination threshold, leaving limited room for error.
Mar. 20, 2013, 12:45 PM
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