Tue, May 5, 5:35 PM
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Thu, Apr. 30, 5:19 PM
Thu, Feb. 12, 5:08 PM
Wed, Feb. 11, 5:35 PM
Tue, Feb. 10, 6:47 PM
- Figuring the debt markets are a bit more rational than the equity markets right now, Wunderlich analysts look to the bond market for some clues about energy investing.
- The firm finds that where Chesapeake Energy's (NYSE:CHK) debt is trading now as "quite refreshing" given the strong balance sheet the company has built, strengthening its conviction that CHK is a Best idea among oil stocks; others holding up well, it says, are financially strong names such as XEC, CXO, EGN, EOG, GPOR, MTZ, NBL, PTEN, PDCE, PXD and ROSE.
- In other cases, the debt is providing “equity-like returns” for investors who want to move out of stocks and into bonds, with the firm mentioning AREX, BBG, CWEI and NOG.
Tue, Feb. 10, 12:46 PM
Tue, Jan. 13, 12:47 PM
- Traders smelling blood - or oil - in the water have piled into shorts against energy E&P companies, with short interest jumping a total of 12% for the final two weeks of 2014, according to Sterne Agee analysts using NYSE data.
- Oasis Petroleum (NYSE:OAS) led a 45.9% jump in short interest, followed by Pioneer Natural Resources (NYSE:PXD) with a 45.2% increase and Chesapeake Energy (NYSE:CHK) short growth of 31.9%.
- Sterne Agee energy analyst Tim Rezvan thinks the shorts are on the right side of the oil trade for the foreseeable future, believing a break below $40/bbl "wouldn't be a surprise in the short term."
- Short positions did not increase for all companies, as short growth fell for Viper Energy Partners (NASDAQ:VNOM), Callon Petroleum (NYSE:CPE), Energen (NYSE:EGN) and PetroQuest Energy (NYSE:PQ), among others.
Wed, Jan. 7, 5:40 PM
- Energen (NYSE:EGN) says severe winter weather has hurt its production in the Permian Basin in west Texas in recent days and likely will negatively impact its Q1 results.
- The Permian Basin accounts for ~71% of EGN’s proved reserves; the company's net production in 2013 was 14.2M boe.
- Pioneer Natural Resources said yesterday that its drilling and production operations in the area had been hurt by the weather, while Apache said today it suffered only a modest impact.
Oct. 30, 2014, 5:50 PM
Oct. 29, 2014, 5:35 PM
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Oct. 22, 2014, 6:20 PM
Sep. 29, 2014, 12:26 PM
- Encana’s (ECA +2.3%) takeover of Athlon Energy (ATHL +24.6%) is good news for Diamondback Energy (FANG +2.3%) and Energen (EGN +2.2%), according to analysts at Sterne Agee.
- The acquisition implies a value of $98/share for FANG, Sterne says, based on FANG's 85K net acre leasehold position, estimated 19.8K boe/day of Q3 production, $585M of assumed debt, and a $1.7B market value for the Viper Energy Partners (NASDAQ:VNOM) units it owns.
- The firm sees even more upside for EGN, as ECA’s price implies a value of $102/share for EGN, based on 180K net acres across both sides of the Permian Basin, 48K boe/day of Q3 Permian Basin production, 132M cfe/day of Q3 San Juan Basin, and $835M of pro forma net debt as of Sept. 30.
- Permian producers Laredo Petroleum (LPI +5%), Parsley Energy (PE +5%) and RSP Permian (RSPP +4.8%) also are higher following the acquisition news.
Aug. 20, 2014, 6:22 PM
- Oil and gas producers in the Midland Basin, part of the larger Permian Basin, may run up against higher costs in the coming months, while those in the Delaware Basin should enjoy expanded production opportunities, Sterne Agee analyst Tim Rezvan says.
- Commentary from this week's EnerCon Oil & Gas Conference in Denver suggest that "pricing power is swinging back to the service providers, Rezvan says, while noting that Energen (NYSE:EGN) is one Midland producer that does not see cost inflation as an issue; EGN says it likely will add at least two horizontal rigs in the basin in 2015, and does not see problems getting rigs with one- to three-year contracts.
- Meanwhile, the Delaware Basin - also part of the Permian - remains relatively under the radar, with strong oil cuts and prolific three-stream production rates present across much of the basin, according to Rezvan.
- Carrizo Oil & Gas (NASDAQ:CRZO) seems particularly bullish on prospects in the Delaware, Rezvan says, as management sees ample opportunities to bolt on more acreage to its initial 17K net acre position.
Jul. 30, 2014, 5:19 PM
Jul. 29, 2014, 5:35 PM
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Jul. 23, 2014, 6:07 PM
EGN vs. ETF Alternatives
Energen Corp is a domestic oil and gas exploration and production company. Its reserves are primarily in the Permian basin of west Texas. The Company is also exploring the potential of an emerging oil play in the Mancos formation in the San Juan Basin.
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