Thu, Apr. 2, 6:33 PM
- Emerald Oil (NYSEMKT:EOX) -3.8% AH after disclosing it entered into at-the-market issuance sales agreements to sell up to $100M worth of its common shares.
- EOX says it plans to use the proceeds from the sale for general corporate purposes, which may include repaying a portion of outstanding borrowings under its revolving credit facility.
Fri, Mar. 13, 9:56 AM
- Emerald Oil (EOX -3.8%) is reiterated with a Sell rating and $0.50 price target at Wunderlich, which expects production to begin declining by H2 2015.
- EOX's Q4 earnings miss did not offer much that could be considered new, the firm says, given the company already had released production levels, year-end proven reserves and 2015 guidance just ahead of an equity raise earlier this year.
- EOX discussed in more detail its thinking about current returns and when it would look to accelerate during a recovery, but until then the firm looks for production to start declining by H2.
Wed, Mar. 11, 12:47 PM
Fri, Feb. 6, 9:12 AM
Thu, Feb. 5, 5:20 PM| 15 Comments
Thu, Feb. 5, 2:39 PM
- Emerald Oil (EOX +20.2%) surges after announcing Q4 total production of more than 377K boe (96% oil), or 4.1K boe/day, up 69% Y/Y and a 6% increase Q/Q.
- EOX says its proved reserves increased 99% Y/Y to 26.3M boe.
- Says drilling operations continue with one rig currently operating in the Low Rider project area in North Dakota, and intends to continue its previously announced variable one rig program in 2015.
Thu, Feb. 5, 12:45 PM
Dec. 18, 2014, 9:14 AM| 9 Comments
Dec. 12, 2014, 3:49 PM
- Emerald Oil (EOX -23.9%) plunges to 52-week lows after trimming its Q4 production target to 3,300 boe/day, down 14.9% Q/Q, and reduces 2015 guidance by more than 17% from its mid-point of prior range to 4,500-4,800 barrels daily; in a move to conserve capital and protect the balance sheet, EOX also drastically cut its drilling and completion budget to $62M-$81M from a prior $210M-$240M.
- Shares are downgraded to Neutral from Accumulate at Global Hunter, which views the defensive posture as prudent but the lower production forecast reduces NAV to $1.50; however, the firm says EOX remains a favored way to play a rebound in oil prices, sporting one of the highest sensitivities to $90 oil within its coverage group.
Dec. 12, 2014, 12:46 PM
Dec. 12, 2014, 9:16 AM
Dec. 8, 2014, 3:37 PM
- Energy stocks are hammered again as oil prices tumble to fresh five-year lows, and Oasis Petroleum (OAS -16.1%), Emerald Oil (EOX -12.7%), Cobalt International Energy (CIE -10.1%) and Canadian Natural Resource (CNQ -4.8%) are slammed more than most as they suffered analyst downgrades today.
- SunTrust's Ryan Otaman cuts OAS and EOX to Neutral from Buy to account for their large debt loads, while Citi's Robert Morris lowers CIE and CNQ to Neutral from Buy.
- However, Morris thinks at least some stocks warrant upgrades after precipitous declines, raising Antero Resources (AR -9.1%), Apache (APA -6.1%) and Newfield Exploration (NFX -8.3%) even while acknowledging they probably will not bottom until oil does - a common view among analysts such as Raymond James' Marshall Adkins, who writes that "trying to figure out appropriate oilfield service valuations under a collapsing oil price environments is an exercise in futility."
Dec. 1, 2014, 12:46 PM
Dec. 1, 2014, 9:13 AM
Nov. 28, 2014, 12:45 PM
Nov. 28, 2014, 10:28 AM
- Ladenburg Thalman throws in the towel on Oasis Petroleum (OAS -30%), Denbury Resources (DNR -14.9%), Resolute Energy (REN -18.3%) following OPEC's decision yesterday to hold production levels and the resulting tumble in crude oil, with WTI crude -6.4% to $69.95 per barrel.
- Some others: Bonanza Creek (BCEI -21.5%), Northern Oil & Gas (NOG -16.2%), Warren Resources (WRES -16.3%), Halcon Resources (HK -22%), Triangle Petroleum (TPLM -21%), Emerald Oil (EOX -26.4%), Kodiak Oil & Gas (KOG -19.3%).
EOX vs. ETF Alternatives
Emerald Oil Inc is an independent exploration and production company. The Company is engaged in acquiring acreage and developing oil and natural gas wells in the Williston Basin of North Dakota and Montana.
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