Chesapeake Energy: Still A Buyout Candidate? Update [View article]
CHK has never been a buyout candidate except for some junk buyer like Ican. No oil company would want it. It would be like Lord & Taylor's buying out a second hand store.
The Bakken Is Screaming With Takeover Targets [View article]
Perhaps. Many think the the Williston Basin is ripe for consolidation. However, firms like WLL think they will more likely be a buyer.
Acquisitions is only one way to grow. The other is through the drill bit (leasing and drilling). There are many new exiciting horizontals plays in the U.S. Leasing may very well be more profitable.
People misunderstood what Mark Papa meant by saying the Williston Basin and the Eagle Ford "... are only two meaningful oil plays in the United States." He meant they are only two that individually can affect world supply. There are lots of other great plays in the U.S. -- Permian Basin, Hogshooter, Cana, Utica, Wattenberg, Mississippian, etc. There are many that are still in the "stealth" stage.
Buying oil stocks and hoping for a takeover is pretty speculative. I prefer to buy the best ones.
Halcon Resources: The Eagle Ford Asset Sale Is A Drop In The Ocean Of Its Debt [View article]
HK stock carries a premium; I think because of their success in running Petrohawk.
Their style seems to be wheeler-dealer: jumping into and out of major lease positions -- hopefully turning a profit and using the proceeds to concentreate on just the best positions. This isn't for me. But I made a bundle on Petrohawk concetrated every dime on the Eagle Ford ... and was then acquired.
This time the hawk team seems to be looking at the Utica shale. I'm not betting long on HK, but being short is too risky. It would be like betting against the Cowboys.
Whiting Petroleum (WLL): Q1 EPS of $0.94 beats by $0.04. Revenue of $605.1M beats by $15.4M. (PR) [View news story]
Not bad. No hint of action after-hours. NFX jumped today on a similiar report last night. WLL's Redtail prospect will prove to be another super find, and WLL knows exactly how to quickly and effectively exploit it.
Energy Sector Correction: When Fundamentals May Not Matter [View article]
Great article. To predict oil prices one needs only to be able to predict pipeline thefts in Nigeria, stability in Libya, war in the Gulf, mechanical problems in the North Sea, and a couple dozen other things.
Chesapeake Energy (CHK) is putting up for sale more than 94K net acres in the Utica shale in Ohio, nearly 10% of the 1M net acres it owns in the formation. The land for sale includes three wells, two of which CHK operates. CHK says it is seeking to sell the land to focus on its other Utica holdings. [View news story]
CHK has been a promiscuous leaser. It leases too much scattered land and doesn’t focus on creating big blocks. CHK’s lease map in the Eagle Ford (for example) looks like someone with chicken pox.
Marathon Oil (MRO) has reportedly put its 10% holdings in two Angolan offshore oil and gas fields up for sale, possibly as part of its plans to offload up to $3B worth of assets. China National Petroleum Corp and Malaysia's Petronas are considering making bids for the assets in what would be the third major energy deal in Africa in 2013. [View news story]
MRO has a number of "investments" in high risk geographic areas. If it could dump them and concentrate on North America it would be a great firm.
Newfield Exploration Announces Significant Discovery Offshore Malaysia, Provides Update on Process to Explore "Strategic Alternatives" for International Businesses [View article]
This is good new. After-hours trading has NFX up about $1.25ps.
Chesapeake Energy: Still A Buyout Candidate? Update [View article]
Chesapeake Sells Marcellus Acreage To Southwestern At $574 Per Acre: Quick Read [View article]
As Richard points out, some of the acreage may expire. Thus the net cost per acre to SWN is likely much higher.
SWN is a great low cost operator, but they still seem to be dry gas.
The Bakken Is Screaming With Takeover Targets [View article]
Acquisitions is only one way to grow. The other is through the drill bit (leasing and drilling). There are many new exiciting horizontals plays in the U.S. Leasing may very well be more profitable.
People misunderstood what Mark Papa meant by saying the Williston Basin and the Eagle Ford "... are only two meaningful oil plays in the United States." He meant they are only two that individually can affect world supply. There are lots of other great plays in the U.S. -- Permian Basin, Hogshooter, Cana, Utica, Wattenberg, Mississippian, etc. There are many that are still in the "stealth" stage.
Buying oil stocks and hoping for a takeover is pretty speculative. I prefer to buy the best ones.
Halcon Resources: The Eagle Ford Asset Sale Is A Drop In The Ocean Of Its Debt [View article]
Their style seems to be wheeler-dealer: jumping into and out of major lease positions -- hopefully turning a profit and using the proceeds to concentreate on just the best positions. This isn't for me. But I made a bundle on Petrohawk concetrated every dime on the Eagle Ford ... and was then acquired.
This time the hawk team seems to be looking at the Utica shale. I'm not betting long on HK, but being short is too risky. It would be like betting against the Cowboys.
Whiting Petroleum (WLL): Q1 EPS of $0.94 beats by $0.04. Revenue of $605.1M beats by $15.4M. (PR) [View news story]
Newfield Exploration (NFX): Q1 EPS of $0.45 beats by $0.01. Revenue of $651M beats by $3.27M. (PR) [View news story]
Energy Sector Correction: When Fundamentals May Not Matter [View article]
Bakken Update: Bakken Well Costs Are Decreasing Faster Than Companies Indicate [View article]
Marcellus And Utica: Will 2013 Deliver A Major Breakthrough In The Plays' Northern Extension? [View article]
These Poorly Hedged Bakken And Eagle Ford Oil E&P Companies Could Get Hurt In A Downturn [View article]
Stocks with less hedging tend to be more volatile and hence better vehicles for short-term trading. Trading WLL has been very good to me.
Chesapeake Energy (CHK) is putting up for sale more than 94K net acres in the Utica shale in Ohio, nearly 10% of the 1M net acres it owns in the formation. The land for sale includes three wells, two of which CHK operates. CHK says it is seeking to sell the land to focus on its other Utica holdings. [View news story]
This is probably a good move.
Whiting Petroleum: Bakken Acreage Keys Upgrades [View article]
Marathon Oil (MRO) has reportedly put its 10% holdings in two Angolan offshore oil and gas fields up for sale, possibly as part of its plans to offload up to $3B worth of assets. China National Petroleum Corp and Malaysia's Petronas are considering making bids for the assets in what would be the third major energy deal in Africa in 2013. [View news story]
Why FPA Capital's Rodriguez Has 42% Of His Equity Positions In Energy Stocks [View article]
NFX is my pick for best stock.
Newfield Exploration Announces Significant Discovery Offshore Malaysia, Provides Update on Process to Explore "Strategic Alternatives" for International Businesses [View article]