Wed, Oct. 28, 4:51 PM
Fri, Aug. 21, 5:36 PM
Wed, Jul. 29, 4:39 PM
Wed, Jul. 22, 2:37 PM
- A reduction in non-OPEC production eventually will provide an opportunity for U.S. producers to get back in the game, Credit Suisse analyst Mark Lear says as he upgrades the oil and gas E&P sector to Overweight and changes ratings for several individual stocks.
- Lear sees a handful of names with limited downside at WTI prices of ~$60/bbl and “decent” upside with prices in the $70’s, and expects a better year for natural gas in 2016 as dropoffs in production and higher demand could lead to higher winter prices.
- "We may be early,” but Credit Suisse assumes coverage at Outperform on some E&P stocks: EOG, EPE, PXD, DNR, APC, DVN.
- Upgraded to Outperform from Neutral: HES, CXO, CRZO, NBL
- Upgraded to Neutral from Underperform: MUR.
- Assumed coverage at Neutral: APA, DNR
- Assumed at Underperform: SD, SWN
- Downgraded to Underperform from Neutral: REXX, CRK
Wed, Apr. 29, 4:58 PM
Wed, Apr. 8, 5:38 PM
Tue, Apr. 7, 5:36 PM
Mon, Feb. 23, 5:37 PM
Wed, Feb. 18, 4:55 PM
- EP Energy (NYSE:EPE) says it plans a 2015 capital budget of $1.2B-$1.3B, a more than 40% reduction from 2014 levels, focused on its highest-return opportunities primarily in the Eagle Ford program and the most efficient areas of the Altamont, Wolfcamp and Haynesville programs.
- EPE says it expects to operate an average of 6-7 total drilling rigs in its four core programs, completing 160-190 wells in 2015.
- EPE plans 2015 production of 94.5K-109.5K boe/day, with 56K-64K bbl/day of oil production, up 4% and 10% Y/Y at the respective mid-points.
- Expects full-year average well costs to come in ~15% lower than 2014 across all programs.
- Year-end 2014 proved oil and natural gas reserves totaled 622M boe, up 18% Y/Y excluding 21M boe from assets sold.
- Also: EP Energy misses by $0.01.
Wed, Feb. 18, 4:26 PM
Wed, Jan. 7, 7:05 PM
- U.S. oil producers will keep pumping, even at sub-$50 crude oil, because they have to pay off debt, but they are having trouble keeping up with debt payments in the wake of raising their borrowing 55% since 2010 to nearly $200B, WSJ reports.
- Energy analysts warn defaults could be coming: “The group is not positioned for this downturn... There are too many ugly balance sheets,” says Baird's Daniel Katzenberg.
- Lenders are already doling out tough love to companies, MLV amalyst Chad Mabry says, with some lenders wanting to see producer plans for handling further price drops while others are urging asset sales.
- The 10 highest ratios of net debt/EBITDA from the last 12 months, according to S&P Capital IQ, belong to KWK, AR, WRES, GDP, REN, HK, XCO, REXX, MPO, EPE.
Dec. 29, 2014, 5:42 PM
Dec. 23, 2014, 5:35 PM
Nov. 4, 2014, 4:48 PM
Aug. 6, 2014, 5:23 PM
May 23, 2014, 11:49 AM
- Parsley Energy (PE) is the latest fracking company to enjoy a big IPO, jumping 19.7% so far in its first day of trading after selling 50M shares at $18.50 each to raise $925M, topping expectations for a 43.9M-share offering fetching $15-$18/share.
- PE drills shale formations in the Permian Basin area in Texas, and Permian peers Diamondback Energy (FANG) and Athlon Energy (ATHL) have seen their shares rally 38% and 43% YTD respectively.
- Oil and gas drillers already had raised $2.2B in U.S.-listed IPOs this year; Rice Energy (RICE) has rallied 44% since its January IPO and RSP Permian (RSPP) has gained 42% since debuting in the same month, although EP Energy (EPE) is off 1.9% since it went public.
EP Energy Corp is an oil exploration and production company, engaged in the acquisition and development of oil and natural gas properties. It operates in the Eagle Ford Shale, the Wolfcamp Shale, the Altamont field and the Haynesville Shale.
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