Sep. 16, 2013, 9:31 AM
- Anadarko Petroleum (APC) has shut in at least 300 wells in the Wattenberg field, one of several operators affected by strong floods in Colorado over the weekend.
- Encana (ECA) says it shut in an unspecified number of wells and closed a field office due to lack of road access.
- Noble Energy (NBL) says its operations north of Denver are operating normally.
- Other smaller operators such as Synergy Resources (SYRG) and PDC Energy (PDCE) likely are affected; operators such as EOG, Bonanza Creek (BCEI) and Carrizo (CRZO) may have logistical issues.
Sep. 10, 2013, 6:12 PM
- Noble Energy (NBL), Anadarko Petroleum (APC), Continental Resources (CLR) and EOG Resources (EOG) are the top energy picks at UBS, which says each company delivers above-average cash flow per share growth, deep inventories and attractive pricing.
- BG Group is “on the verge of delivering strong, accretive volume growth from Australia and Brazil," UBS says, and Total (TOT) has the most potential for earnings and share upgrades based on its high dividend yield and conservative expectations for the company.
- Lukoil (LUKOY.PK, LUKOF.PK) is the standout value play in Russia, China's Sinopec (SNP) offers attractive valuation and improving transparency, but Brazil’s Petrobras (PBR) is still too risky.
Sep. 9, 2013, 3:53 PM
- Cimarex Energy (XEC +3.7%) and EOG Resources (EOG +1.1%) are higher after each merits Morgan Stanley upgrades to Overweight from Equal Weight.
- XEC is awarded a new a $105 price target, up from $79, as the firm says XEC "is on the cusp of delineating a very large Permian resource base that could underpin 10-plus years of rapid, visible growth."
- EOG gets a $200 target, up from $168, as the firm foresees positive free cash flow in 2013-14 for the first time in more than a decade, thanks to tighter oil differentials and elevated oil prices, positive operating momentum and improving capital efficiencies.
Sep. 5, 2013, 5:41 PM
Sep. 3, 2013, 12:53 PM
- UBS highlights top energy stocks to buy that could benefit from the current Middle East situation.
- UBS expects the large integrated oil companies, including Exxon Mobil (XOM) and Chevron (CVX), to benefit from the increase in oil pricing, even if it is temporary.
- While E&P companies are more sensitive to changes in commodity prices than the majors, they also may have the most upside potential among energy stocks; the firm focuses on DVN, EOG and WLL.
- UBS would hold names in the oil services group through the period and buy on any dip: BHI, HAL, SLB.
- Refiners are at a disadvantage as oil prices rise and better off when prices fall, so UBS would focus on other areas for now.
Aug. 30, 2013, 6:11 PM
- EOG Resources (EOG) says the Eagle Ford shale oil well fire that has burned since a blowout Wednesday is nearly out as crews worked to cap it.
- EOG is the largest oil producer in the prolific Eagle Ford play with output of 173K boe/day as of June 30; total Eagle Ford oil production rose to ~621K bbl/day in June, 60.2% higher Y/Y.
Aug. 29, 2013, 9:58 AM| Comment!
Aug. 28, 2013, 11:59 AM
- Energy stocks (XLE +1.9%) lead the way this session as West Texas crude tests $110, with tensions over Syria continuing to feed Middle East supply concerns; Syria concerns and Libyan export cuts are trumping the bearish influence from a surprise gain for U.S. crude supplies.
- Among sector leaders: MRO +3.3%, EOG +3.1%, CVX +2.5%, TOT +2.4%, WLL +2.4%, APC +2.2%, RDS.A +2.1%, XOM +2.1%, HAL +2%, SLB +2%, COP +1.8%, PSX +1.7%, BP +1.6%, APA +1.6%, HES +1.5%, KOG +1.3%.
- ETFs: ERX, VDE, DIG, IEO, IEZ, IYE, PXE, PXI, XES, XOP, RYE, FXN, OIH, PXJ, PSCE, ERY, DUG, DDG, FRAK.
- After big losses yesterday, gold miners (GDX +2.4%) are strong today despite only a slight gain in the metal.
- Miners: ABX +3.6%, GG +3.2%, NEM +2.2%, KGC +2%, SLW +2%, GFI +1.2%.
Aug. 26, 2013, 11:59 AM
- The complexities of the Tuscaloosa Marine shale - including a softer rock that won’t easily release the oil it hoards - have been difficult to solve, but Goodrich Petroleum (GDP +2.4%), which recently purchased part of a 277K-acre Tuscaloosa leasehold and seven wells, thinks it has cracked the code.
- GDP seems off to a good start: Its Crosby well produced an average of 1,137 bbl/day during its first 30 days of production.
- Meanwhile, Indigo Minerals, with nearly 300K acres in the formation, hopes partner EOG Resources (EOG) also will break through in the Tuscaloosa.
Aug. 22, 2013, 3:14 PM
- Oil production in Texas’ Eagle Ford rose 60% Y/Y in June, as the nine fields that make up the majority of the shale formation yielded 617,884 bbl/day of crude, according to preliminary data.
- Growing production from Eagle Ford is helping fuel a renaissance in Texas crude; the state produced a total of 2.53M bbl/day in May, the highest monthly level since April 1982.
- EOG Resources (EOG) is the largest Eagle Ford leaseholder, with 639K net acres; Chesapeake Energy (CHK) is next with 485K.
Aug. 21, 2013, 11:45 AM
- A western Wisconsin county that has issued more frack sand mining permits than any other county in the state and in neighboring Minnesota decides to impose a moratorium of up to a year on new projects while it addresses health and environmental concerns.
- While several counties and communities on both sides of the Mississippi River have imposed moratoriums on frack sand mining, few communities have embraced the mining with the pro-business fervor seen in Trempealeau county.
- Among companies involved in frack sand mining in the area: EOG, SLCA, HCLP, EMES.
Aug. 19, 2013, 12:25 PM
- BofA Merrill Lynch offers its list of top stocks to buy that will benefit from the fracking revolution, led by Chesapeake Energy (CHK); BAML has a $36 price target on CHK, the highest on Wall Street, vs. the consensus target of $24.
- The picks among oil and gas producers: COG, CLR, EOG, PXD, RRC.
- Oil services and equipment: BHI, EMES, FET, NOV.
Aug. 13, 2013, 5:45 PM
- Mexco Energy (MXC) +33.9% AH on news it received ~$626K in cash from Pioneer Natural Resources (PXD) for the assignment of a three-year term leasehold interest in 417.33 net acres (837.33 gross acres) at $1,500/acre in the horizontal Wolfcamp trend of the Permian basin in west Texas.
- MXC also announces participation as a working interest co-owner with EOG Resources (EOG) in drilling three Wolfcamp horizontal wells.
Aug. 8, 2013, 7:45 PM
- Goldman strategist David Kostin has identified what he thinks are the top 40 most undervalued stocks; at the time he issued the note yesterday, each stock had at least 20% upside to his price target.
- The list: MPC, ADSK, VTR, CRM, AMT, SPG, HAL, DVN, EXPE, SWN, R, ESV, BRCM, CAM, NBL, WYNN, WYN, NE, VMC, PSX, NBR, CCI, APC, EL, NFX, FSLR, GM, YHOO, CERN, EOG, CTSH, GT, QCOM, MON, VLO, SLB, PCP, AMAT, BMY, NOV.
Aug. 7, 2013, 2:47 PM
- EOG Resources' (EOG +1.9%) Q2 results are the antidote to Royal Dutch Shell (RDS.A, RDS.B), Liam Denning writes: EOG beat the earnings consensus by 21% while Shell missed its Q2 number by 21%; EOG hiked its 2013 output estimate to 7.5% from 4% as Shell abandoned its ~4% growth target: EOG didn't raise its 2013 capex while Shell maintained its huge budget.
- EOG isn't relying heavily on borrowing or asset sales to fund growth, Denning notes; consensus is for operating cash flow to fall short of capex by just ~$200M, and net debt of ~$5B is just 0.7x 2013 estimated EBITDA.
Aug. 7, 2013, 10:56 AM
- Stifel Nicolaus raises its price target on Buy-rated EOG Resources (EOG +2%) to $200 from $150 after posting strong Q2 results.
- Stifel says it had previously considered EOG as a $200 stock in two years, but now believes it shares will hit that price within a year, citing ongoing production growth, improved guidance, and free cash flow possibly coming in sooner than expected.
- FBR also lifts its target to $200 and increases its forecast growth rate 11% above guidance in 2013, believing it will inflect higher to 28% in 2014 and a 23.8% average in 2014-17.
EOG vs. ETF Alternatives
EOG Resources Inc explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the USA, Trinidad, United Kingdom, China, Argentina and, from time to time, select other international areas.
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