Statoil (STO), Itron, Inc. (ITRI), Cbeyond (CBEY), OmniVision Technologies, Inc. (OVTI), Acorda Therapeutics Inc. (ACOR) and VCA Antech, Inc. (WOOF) had ratings and price targets on them adjusted by analysts.
Credit Suisse downgraded Statoil (STO) from a "Neutral" rating to an "Underperform" rating.
KeyBanc downgraded Itron, Inc. (ITRI) from a "Buy" rating to a "Hold" rating.
Craig Hallum downgraded Cbeyond (CBEY) from a "Buy" rating to a "Hold" rating.
JPMorgan Chase & Co. downgraded OmniVision Technologies, Inc. (OVTI) from an "Overweight" rating to a "Neutral" rating.
Citigroup downgraded Acorda Therapeutics Inc. (ACOR) from a "Buy" rating to a "Neutral" rating.
First Analysis downgraded VCA Antech, Inc. (WOOF) from an "Overweight" rating to an "Equal Weight" rating.
Showing posts with label Statoil. Show all posts
Showing posts with label Statoil. Show all posts
Tuesday, February 21, 2012
Wednesday, December 7, 2011
Statoil (STO) (ITC) (LPX) (NFG) (SUI) Downgraded
Statoil (NYSE: STO), ITC Holdings Corp. (NYSE: ITC), Louisiana-Pacific Co. (NYSE: LPX), National Fuel Gas Co. (NYSE: NFG) and Sun Communities Inc. (NYSE: SUI) were downgraded by analysts.
ITC Holdings Corp. (ITC) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.
Louisiana-Pacific Co. (LPX) was downgraded by Scotia Capital to an “Underperform” rating.
National Fuel Gas Co. (NFG) was downgraded by Raymond James (NYSE:RJF) from a “Strong Buy” rating to an “Outperform” rating.
Statoil (STO) was downgraded by Deutsche Bank (NYSE:DB) from a “Buy” rating to a “Hold” rating.
Sun Communities Inc. (SUI) was downgraded by Keefe, Bruyette & Woods to an “Underperform” rating.
ITC Holdings Corp. (ITC) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.
Louisiana-Pacific Co. (LPX) was downgraded by Scotia Capital to an “Underperform” rating.
National Fuel Gas Co. (NFG) was downgraded by Raymond James (NYSE:RJF) from a “Strong Buy” rating to an “Outperform” rating.
Statoil (STO) was downgraded by Deutsche Bank (NYSE:DB) from a “Buy” rating to a “Hold” rating.
Sun Communities Inc. (SUI) was downgraded by Keefe, Bruyette & Woods to an “Underperform” rating.
Tuesday, December 6, 2011
Sonoco (SON) (STO) (TLLP) (CP) (CRI) (CX) Ratings, Price Targets
Sonoco Products (SON), Statoil (STO), Tesoro Logistics LP (TLLP), Canadian Pacific Railway Limited (CP), Carter’s, Inc. (CRI) and Cemex SAB de CV (CX) ratings and price targets.
Credit Suisse (NYSE:CS) initiated coverage on Sonoco Products (SON). They placed a “Neutral” rating and a price target of $34.00 on the company.
Deutsche Bank (NYSE:DB) downgraded Statoil (STO) from a “Buy” rating to a “Hold” rating.
RBC Capital raised its price target on Tesoro Logistics LP (TLLP) from $30.00 to $35.00. They have an “Outperform” rating on the company.
Barclays Capital upgraded Canadian Pacific Railway Limited (CP) from an “Underweight” rating to an “Equal Weight” rating.
Goldman Sachs (NYSE:GS) upgraded Carter’s, Inc. (CRI) from a “Neutral”
rating to a “Buy” rating. They have a price target of $46.00 on the company.
Sterne Agee initiated coverage on Cemex SAB de CV (CX). They placed a “Neutral” rating on the company.
Credit Suisse (NYSE:CS) initiated coverage on Sonoco Products (SON). They placed a “Neutral” rating and a price target of $34.00 on the company.
Deutsche Bank (NYSE:DB) downgraded Statoil (STO) from a “Buy” rating to a “Hold” rating.
RBC Capital raised its price target on Tesoro Logistics LP (TLLP) from $30.00 to $35.00. They have an “Outperform” rating on the company.
Barclays Capital upgraded Canadian Pacific Railway Limited (CP) from an “Underweight” rating to an “Equal Weight” rating.
Goldman Sachs (NYSE:GS) upgraded Carter’s, Inc. (CRI) from a “Neutral”
rating to a “Buy” rating. They have a price target of $46.00 on the company.
Sterne Agee initiated coverage on Cemex SAB de CV (CX). They placed a “Neutral” rating on the company.
Wednesday, August 31, 2011
Suncoke (SXC) (TKLC) (ARLP) (STO) (BRY) (SNN) Get New Coverage
Suncoke Energy Inc (NYSE: SXC), Tekelec (NASDAQ: TKLC), Alliance Resource (NASDAQ: ARLP), Statoil (NYSE: STO), Berry Petroleum Comp (NYSE: BRY) and Smith & Nephew (NYSE: SNN) getting new analyst coverage.
Credit Suisse (NYSE:CS) initiated coverage on Suncoke Energy Inc (SXC). They placed an “Outperform” rating and a price target $19.00 on the company.
Northland Securities initiated coverage on Tekelec (TKLC). They placed a “Market Perform” rating and a price target of $8.50 on the company.
JPMorgan Chase & Co. (NYSE:JPM) initiated coverage on Alliance Resource (ARLP). The placed an “Overweight” rating and a price target of $82.00 on the company.
Howard Weil initiated coverage on Statoil (STO). They placed a “Market Perform” rating and a price target of $26.00 on the company.
RBC Capital initiated coverage on Berry Petroleum (BRY). They placed an “Outperform” rating and a price target $67.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Smith & Nephew (SNN). They placed a “Buy” rating on the company.
Credit Suisse (NYSE:CS) initiated coverage on Suncoke Energy Inc (SXC). They placed an “Outperform” rating and a price target $19.00 on the company.
Northland Securities initiated coverage on Tekelec (TKLC). They placed a “Market Perform” rating and a price target of $8.50 on the company.
JPMorgan Chase & Co. (NYSE:JPM) initiated coverage on Alliance Resource (ARLP). The placed an “Overweight” rating and a price target of $82.00 on the company.
Howard Weil initiated coverage on Statoil (STO). They placed a “Market Perform” rating and a price target of $26.00 on the company.
RBC Capital initiated coverage on Berry Petroleum (BRY). They placed an “Outperform” rating and a price target $67.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Smith & Nephew (SNN). They placed a “Buy” rating on the company.
Monday, August 15, 2011
Statoil (STO)(VAL) (EW) (BWLD) (IFSIA) (JWN) Upgraded
Statoil (NYSE: STO), The Valspar Co. (NYSE: VAL), Edwards Lifesciences (NYSE: EW), Buffalo Wild Wings (NASDAQ: BWLD), Interface, Inc. (NASDAQ: IFSIA) and Nordstrom, Inc. (NYSE: JWN) upgraded by analysts.
Statoil (STO) was upgraded by Collins Stewart from a “Sell” rating to a “Hold” rating.
The Valspar Co. (VAL) was upgraded by analysts at JPMorgan Chase & Co. (NYSE:JPM) to an “overweight” rating.
Edwards Lifesciences (EW) was upgraded by Credit Suisse (NYSE:CS) to an “Outperform” rating.
Buffalo Wild Wings (BWLD) was upgraded by Sterne Agee from a “Neutral” rating to a “Buy” rating.
Interface, Inc. (IFSIA) was upgraded by Longbow Research from a “Neutral” rating to a “Buy” rating. They have a price target of $18.00 on the company.
Nordstrom, Inc. (JWN) was upgraded by Stifel Nicolaus from a “Hold” rating to a “Buy” rating. They have a price target of $52.00 on the company.
Statoil (STO) was upgraded by Collins Stewart from a “Sell” rating to a “Hold” rating.
The Valspar Co. (VAL) was upgraded by analysts at JPMorgan Chase & Co. (NYSE:JPM) to an “overweight” rating.
Edwards Lifesciences (EW) was upgraded by Credit Suisse (NYSE:CS) to an “Outperform” rating.
Buffalo Wild Wings (BWLD) was upgraded by Sterne Agee from a “Neutral” rating to a “Buy” rating.
Interface, Inc. (IFSIA) was upgraded by Longbow Research from a “Neutral” rating to a “Buy” rating. They have a price target of $18.00 on the company.
Nordstrom, Inc. (JWN) was upgraded by Stifel Nicolaus from a “Hold” rating to a “Buy” rating. They have a price target of $52.00 on the company.
Wednesday, May 18, 2011
Ex-Dividend for (NEBS) (NTG) (NYH) (PTR) (STO) is May 20
The ex-dividend date for New England Bancshares Inc. (NASDAQ:NEBS), Tortoise MLP Fund (NYSE:NTG), Eaton Vance New York Municipal Bond Fund II (NYSE:NYH), PetroChina Company Ltd. (NYSE:PTR) and Statoil ASA (NYSE:STO) is May 20.
New England Bancshares Inc. (NEBS) pays a dividend of $0.03 with a yield of 1.26 percent.
Tortoise MLP Fund (NTG) pays a dividend of $0.41 with a yield of 6.20 percent.
Eaton Vance New York Municipal Bond Fund II (NYH) pays a dividend of $0.07 with a yield of 6.96 percent.
PetroChina Company Ltd. (PTR) pays a dividend of $2.49 with a yield of 3.39 percent.
Statoil ASA (NYSE:STO) pays a dividend of $0.94 with a yield of 3.61 percent.
New England Bancshares Inc. (NEBS) pays a dividend of $0.03 with a yield of 1.26 percent.
Tortoise MLP Fund (NTG) pays a dividend of $0.41 with a yield of 6.20 percent.
Eaton Vance New York Municipal Bond Fund II (NYH) pays a dividend of $0.07 with a yield of 6.96 percent.
PetroChina Company Ltd. (PTR) pays a dividend of $2.49 with a yield of 3.39 percent.
Statoil ASA (NYSE:STO) pays a dividend of $0.94 with a yield of 3.61 percent.
Friday, April 1, 2011
Statoil (STO) Rocks on Major Resource Find
Shares of Statoil ASA (NYSE:STO) are soaring today on news the company found a major gas and oil field at the Skugard prospect in the Barents Sea.
The largest oil company in Norway said it may be the most important discovery in Norway in over 10 years.
According to Statoil, the field could hold as much as 250 million barrels of recoverable reserves.
Being partners with Statoil, shares of Hess (NYSE:HES), Total SA (NYSE:TOT), ENI SpA (NYSE:E) were also all up today in response to the find.
Statoil was trading at $28.59, gaining $0.95, or 3.44 percent, as of 2:42 PM EDT. Total was at $61.73, rising $0.76, or 1.25 percent. Eni S.p.A. was trading at $50.16, up $1.03, or 2.10 percent. Hess was at $86.85, gaining $1.64, or 1.92 percent.
The largest oil company in Norway said it may be the most important discovery in Norway in over 10 years.
According to Statoil, the field could hold as much as 250 million barrels of recoverable reserves.
Being partners with Statoil, shares of Hess (NYSE:HES), Total SA (NYSE:TOT), ENI SpA (NYSE:E) were also all up today in response to the find.
Statoil was trading at $28.59, gaining $0.95, or 3.44 percent, as of 2:42 PM EDT. Total was at $61.73, rising $0.76, or 1.25 percent. Eni S.p.A. was trading at $50.16, up $1.03, or 2.10 percent. Hess was at $86.85, gaining $1.64, or 1.92 percent.
Monday, March 28, 2011
Statoil (STO) 6th to Receive Gulf Drilling Permit Since BP (BP) Spill
Under enormous pressure because of dragging its feet for months on getting drilling in the Gulf of Mexico going again, the Obama administration is starting to finally award permits, with the latest being to Statoil (NYSE:STO), the sixth new Gulf drilling permit handed out since the BP (NYSE:BP) oil spill, according to the U.S. Bureau of Ocean Energy.
Statoil's permit authorizes a new well to be drilled in Alaminos Canyon Block 810 in water 7,134 feet deep, about 216 miles off the Texas coast south of Texas City.
BOEM Director Michael Bromwich said, "This permit is the sixth we have approved since Feb. 17, when industry demonstrated it had the capacity to handle subsea blowouts and spills."
"Some say we are now proceeding too quickly; some say we are still proceeding too slowly. The truth is we are proceeding as quickly as our resources allow to approve permit applications that satisfy our rigorous safety and environmental standards."
In other words, the crisis in the Middle East underscores the need to drill for oil, and that more than anything else, is the reason the government is finally moving.
The rising price of oil and gasoline is the motivator behind all this, and it's more obvious that's the case because of the sudden drilling religion the Obama administration got.
If they had done the right thing and got the permitting process going quicker, the administration wouldn't be criticized for how allegedly "quickly" they're now issuing permits.
Statoil closed in New York Friday at $27.57, down $0.39, or 1.39 percent.
Statoil's permit authorizes a new well to be drilled in Alaminos Canyon Block 810 in water 7,134 feet deep, about 216 miles off the Texas coast south of Texas City.
BOEM Director Michael Bromwich said, "This permit is the sixth we have approved since Feb. 17, when industry demonstrated it had the capacity to handle subsea blowouts and spills."
"Some say we are now proceeding too quickly; some say we are still proceeding too slowly. The truth is we are proceeding as quickly as our resources allow to approve permit applications that satisfy our rigorous safety and environmental standards."
In other words, the crisis in the Middle East underscores the need to drill for oil, and that more than anything else, is the reason the government is finally moving.
The rising price of oil and gasoline is the motivator behind all this, and it's more obvious that's the case because of the sudden drilling religion the Obama administration got.
If they had done the right thing and got the permitting process going quicker, the administration wouldn't be criticized for how allegedly "quickly" they're now issuing permits.
Statoil closed in New York Friday at $27.57, down $0.39, or 1.39 percent.
Thursday, February 24, 2011
ExxonMobil (XOM), BP (BP), Shell (RDS-A), Total (TOT), Statoil (STO) Have Billions at Stake in Libya
The instability in the Arab world claimed its first oil-rich victim over the weekend with the uprising in Libya. That's bad news for the bevy of international oil firms that have set up shop in the cloistered North African nation over the years, most notably Eni, the Italian oil giant. Libya has become a hot bed of energy investment since the lifting of trade sanctions seven years ago. Major oil companies from BP (NYSE:BP) to ExxonMobil (NYSE:XOM) could now stand to lose millions, and in some cases, billions of dollars in investments and expected future revenue if the current regime falls.
Just a week ago it would have been unthinkable to suggest that Muammar Qaddafi could be ousted from power. The former army colonel, who seized power of the sparsely populated country in 1969 at the tender age of 27, had totally reshaped the country in his image. It would be impossible to mention the desert nation without some crack about its eccentric leader.
But suddenly over one weekend, Qaddafi seemed to lose his grip on power. Protesters set fire to government building and burned his likeness in effigy. The sheer speed of the uprising caught nearly everyone off guard. To put it in perspective, it took over a year of protests to oust the Shah of Iran in 1979. But in this new world of social media, revolutions seem to move at the speed of tweets.
Nevertheless, Qaddafi is determined to fight back, and unlike in Tunisia and Egypt, he seems to have no qualms in gunning down protesters en masse and even using fighter jets to bomb crowds. On Libyan state television yesterday, he showed his defiance, vowing to remain in the country "until the end."
Full Story
Just a week ago it would have been unthinkable to suggest that Muammar Qaddafi could be ousted from power. The former army colonel, who seized power of the sparsely populated country in 1969 at the tender age of 27, had totally reshaped the country in his image. It would be impossible to mention the desert nation without some crack about its eccentric leader.
But suddenly over one weekend, Qaddafi seemed to lose his grip on power. Protesters set fire to government building and burned his likeness in effigy. The sheer speed of the uprising caught nearly everyone off guard. To put it in perspective, it took over a year of protests to oust the Shah of Iran in 1979. But in this new world of social media, revolutions seem to move at the speed of tweets.
Nevertheless, Qaddafi is determined to fight back, and unlike in Tunisia and Egypt, he seems to have no qualms in gunning down protesters en masse and even using fighter jets to bomb crowds. On Libyan state television yesterday, he showed his defiance, vowing to remain in the country "until the end."
Full Story
Wednesday, February 2, 2011
Anadarko's (NYSE:APC) Amazing Comeback, Are They Fully Priced
After the Macondo well disaster in the Gulf of Mexico, which Anadarko (NYSE:APC) had a 25 percent stake in, with BP (NYSE:BP) holding 65 percent, Anadarko has been soaring, rising from under $35 a share in the early part of June to close at over $80 Wednesday.
Considering Anadarko's potential exposure to fines and lawsuits, it's a remarkable performance. And even without that weighing on the company, it's still a amazing comeback.
While shares in Anadarko have been steadily rising, they got a nice boost on rumors they could be a takeover target of mining giant BHP Billiton (NYSE:BHP). Since that time, the push they received from the speculation has remained, and even been enhanced since the end of 2010.
Also a major factor in the performance of Anadarko, which is helping the overall oil sector, are expectations the price of oil will continue to rise.
Even the loss of business in the Gulf of Mexico hasn't slowed down the company. That's mostly because of their strong onshore projects in Marcellus and Eagle Ford.
The only major thing weighing on Anadarko is their Caesar/Tonga complex, which they co-own with Chevron (NYSE:CVX), Statoil (NYSE:STO) and Royal Dutch Shell (NYSE:RDS-A). The start-up of that asset has been delayed.
What the question is now after the extraordinary run is if the company is now fully priced. Some investors think so, and are going to wait on the sidelines until there's a pullback.
Anadarko closed Wednesday at $80.03, gaining $1.49, or 1.90 percent.
Considering Anadarko's potential exposure to fines and lawsuits, it's a remarkable performance. And even without that weighing on the company, it's still a amazing comeback.
While shares in Anadarko have been steadily rising, they got a nice boost on rumors they could be a takeover target of mining giant BHP Billiton (NYSE:BHP). Since that time, the push they received from the speculation has remained, and even been enhanced since the end of 2010.
Also a major factor in the performance of Anadarko, which is helping the overall oil sector, are expectations the price of oil will continue to rise.
Even the loss of business in the Gulf of Mexico hasn't slowed down the company. That's mostly because of their strong onshore projects in Marcellus and Eagle Ford.
The only major thing weighing on Anadarko is their Caesar/Tonga complex, which they co-own with Chevron (NYSE:CVX), Statoil (NYSE:STO) and Royal Dutch Shell (NYSE:RDS-A). The start-up of that asset has been delayed.
What the question is now after the extraordinary run is if the company is now fully priced. Some investors think so, and are going to wait on the sidelines until there's a pullback.
Anadarko closed Wednesday at $80.03, gaining $1.49, or 1.90 percent.
Tuesday, February 1, 2011
Cisco (Nasdaq:CSCO), Coca-Cola (NYSE:KO), Nokia (NYSE:NOK), Latest to Close Offices in Egypt Over Unrest
Cisco, Coca-Cola are Nokia are the latest of a plethora of companies to close offices in Egypt until the unrest calms down, and/or security in the country improves.
Some giant banks, and other companies, have already evacuated foreign nationals from the country, while a number of companies are in the midst of doing the same. Citigroup (NYSE:C) is among those who have already evacuated non-Egyptians from the troubled nation.
Norwegian oil producer Statoil (NYSE:STO) has stopped all offshore drilling in the country until further notice.
Coca-Cola spokesman Kenth Kaerhoeg said the company won't reopen its offices until security improves.
Marc Musgrove, a spokesman for Cisco said, “We continue to stay close to our Egyptian employees, and remain prepared to respond if needed to any impact to our employees’ customers or businesses.”
Nokia spokeswoman Mona Kokkonen noted, “We have 25 people working for Nokia in Egypt and they’re working from home. We are monitoring the situation and if necessary will take action such as moving people to a safer area.” Nokia has also closed all their offices in Egypt at this time.
Coca-Cola closed Monday at $62.85, gaining $0.64, or 1.03 percent. Cisco closed at $21.15, gaining $0.22, or 1.05 percent. Nokia ended the session at $10.70, up $0.13, or 1.23 percent.
Some giant banks, and other companies, have already evacuated foreign nationals from the country, while a number of companies are in the midst of doing the same. Citigroup (NYSE:C) is among those who have already evacuated non-Egyptians from the troubled nation.
Norwegian oil producer Statoil (NYSE:STO) has stopped all offshore drilling in the country until further notice.
Coca-Cola spokesman Kenth Kaerhoeg said the company won't reopen its offices until security improves.
Marc Musgrove, a spokesman for Cisco said, “We continue to stay close to our Egyptian employees, and remain prepared to respond if needed to any impact to our employees’ customers or businesses.”
Nokia spokeswoman Mona Kokkonen noted, “We have 25 people working for Nokia in Egypt and they’re working from home. We are monitoring the situation and if necessary will take action such as moving people to a safer area.” Nokia has also closed all their offices in Egypt at this time.
Coca-Cola closed Monday at $62.85, gaining $0.64, or 1.03 percent. Cisco closed at $21.15, gaining $0.22, or 1.05 percent. Nokia ended the session at $10.70, up $0.13, or 1.23 percent.
Tuesday, January 4, 2011
Hess (NYSE:HES), Marathon Oil (NYSE:MRO), BHP (NYSE:BHP), Shell (NYSE:RDS-A), Noble (NYSE:NE) Drilling Permits Issue a Good Thing?
Thirteen companies which had already been operating in Gulf waters at the time of the Obama moratorium will have permits issued to them again, including ATP Oil & Gas Corp. (Nasdaq:ATPG), BHP Billiton Petroleum (GOM) (NYSE:BHP), Chevron USA (NYSE: CVX), Cobalt International Energy (NYSE:CIE), ENI U.S. Operating Company Inc. (NYSE:E), Hess Corp. (NYSE:HES), Kerr-McGee Oil & Gas Corp. (NYSE:KMG), Marathon Oil Company (NYSE:MRO), Murphy Exploration & Production Company – USA (NYSE:MUR), Noble Energy (NYSE:NE), Shell Offshore (NYSE:RDS-A), Statoil USA E & P (NYSE:STO), and Walter Oil & Gas Corp. (NYSE:WLT).
FBR said this will be viewed as a positive move by some, but they caution investors on chasing companies first being issued their permits.
FBR noted, "The Department of Interior announced that deepwater activities already underway before the imposition of the moratorium could be issued drilling permits without undergoing the extensive new environmental reviews that will be required of new permits. Although the issuance of the first post-moratorium permits will likely be viewed as a positive by some, we caution investors that a sustainable permitting rate is far less likely in the near term.
"According to BOEM, companies whose ongoing deepwater drilling activities were suspended due to the deepwater drilling moratorium do not need to resubmit exploration or development plans in order to begin drilling again. This announcement effectively grandfathers in wells being drilled at the time of the moratorium."
FBR said this will be viewed as a positive move by some, but they caution investors on chasing companies first being issued their permits.
FBR noted, "The Department of Interior announced that deepwater activities already underway before the imposition of the moratorium could be issued drilling permits without undergoing the extensive new environmental reviews that will be required of new permits. Although the issuance of the first post-moratorium permits will likely be viewed as a positive by some, we caution investors that a sustainable permitting rate is far less likely in the near term.
"According to BOEM, companies whose ongoing deepwater drilling activities were suspended due to the deepwater drilling moratorium do not need to resubmit exploration or development plans in order to begin drilling again. This announcement effectively grandfathers in wells being drilled at the time of the moratorium."
Chevron (NYSE:CVX), Hess (NYSE:HES), Shell (NYSE:RDS-A), Marathon Oil (NYSE:MRO), Noble Energy (NYSE:NBL) Among 13 Companies Allowed to Resume Deepwater Gulf Drilling
The Obama administration has finally removed the barriers for 13 companies to resume drilling in the Gulf of Mexico after the BP (NYSE:BP) oil spill, including Chevron (NYSE:CVX), Hess (NYSE:HES), Shell (NYSE:RDS-A), Marathon Oil (NYSE:MRO) and Noble Energy (NYSE:NBL).
The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) announced Monday that it has contacted the 13 companies saying they could probably resume drilling without having to go through the process of submitting a revised exploration or development plans.
Rising gas prices and growing dependence on foreign oil, along with the loss of jobs was creating a growing public outcry and criticism of the Obama administration for its tactics in keeping the oil industry from resuming drilling in the Gulf.
BOEMRE director Michael R. Bromwich said, “For those companies that were in the midst of operations at the time of the deepwater suspensions, today's notification is a significant step toward resuming their permitted activity.”
Also being notified were ATP Oil & Gas (Nasdaq:ATPG), BHP Billiton (NYSE:BHP), Cobalt International Energy (NYSE:CIE), ENI U.S. Operating Co. Inc.; Kerr-McGee Oil & Gas (NYSE:KMG), Murphy (NYSE:MUR), Statoil (NYSE:STO), and Walter Oil & Gas (NYSE:WLT).
The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) announced Monday that it has contacted the 13 companies saying they could probably resume drilling without having to go through the process of submitting a revised exploration or development plans.
Rising gas prices and growing dependence on foreign oil, along with the loss of jobs was creating a growing public outcry and criticism of the Obama administration for its tactics in keeping the oil industry from resuming drilling in the Gulf.
BOEMRE director Michael R. Bromwich said, “For those companies that were in the midst of operations at the time of the deepwater suspensions, today's notification is a significant step toward resuming their permitted activity.”
Also being notified were ATP Oil & Gas (Nasdaq:ATPG), BHP Billiton (NYSE:BHP), Cobalt International Energy (NYSE:CIE), ENI U.S. Operating Co. Inc.; Kerr-McGee Oil & Gas (NYSE:KMG), Murphy (NYSE:MUR), Statoil (NYSE:STO), and Walter Oil & Gas (NYSE:WLT).
Tuesday, January 27, 2009
Oil | Gasprom, Statoil, Petrobras
What to the names Gasprom, Statoil and Petrobras have in common? They're all state-owned oil and natural gas energy companies that have a lot of upside potential for oil investors.
When you consider the national monopolies represented by state-owned oil & gas companies, you realize the great potential an energy investor has, assuming they do their homework, as not all nationalized oil companies are the same. Take Mexico and Venezuela, who run their oil exploration companies horribly, and you'd have to have oil in your veins to invest in them.
But in some cases, the competitive advantage for a well run national oil company offers great opportunity.
Take Petrobras of Brazil for a moment. They discovered huge offshore oil fields over the last couple years, and the government offered the prime drilling locations to who? You got it: Petrobras. If any other oil companies are allowed in, you know all they'll get is the leftovers.
Now Statoil, or StoilHydro, from Norway, is in a similar situation, and are positioned for some good profits going forword.
As far as Russian oil company Gazprom, which also has a presence in the UK, they are obviously a much more risky investment, but worthwhile testing out with your spare change rather than serious energy investment money. The Gazprom news is a little more volatile than the oil news concerning other energy companies owned by governments.
Now that the idea is being floated around out there that all the easy oil has been accessed (it hasn't but that's a different story), these national oil and natural gas exploration companies should receive a lot of positive attention from news outlets as the idea of scarcity and higher prices woo oil investors.
We're going to see more oil rigs offshore, and those will be installed by companies like statoil, Petrobras and Gazprom.
Many energy investors don't realize the size of some of the state oil companies even when compared to huge oil and gas firms like Exxon Mobile. Exxon Mobile doesn't have anywhere near the oil and gas capacity that these state oil & gas companies have, and they have to pay taxes, contrary to the national oil and gas companies.
Where does that leave us? It leaves us with huge companies that own a monopoly exploring and drilling a natural resource that will be needed for decades and decades ahead.
Those energy companies owned run by those countries operationally sound way, will bring good returns for investors for years to come. Just think of the country producing the oil and gas to see what the risks are. As risky as the country is in other areas, will be the risk involved for investors in oil and gas.
New techniques used allow oil & gas exploration companies to see through the salty ocean bottoms to find new energy reserves. That is what allowed Petrobras to discover the Tupi and other oil fields which had been there all along.
Depending on what your energy investment strategy is and your personal risk disposition, national companies like Gazprom, Statoil and Petrobras could be places you put your dollars for the long haul.
When you consider the national monopolies represented by state-owned oil & gas companies, you realize the great potential an energy investor has, assuming they do their homework, as not all nationalized oil companies are the same. Take Mexico and Venezuela, who run their oil exploration companies horribly, and you'd have to have oil in your veins to invest in them.
But in some cases, the competitive advantage for a well run national oil company offers great opportunity.
Take Petrobras of Brazil for a moment. They discovered huge offshore oil fields over the last couple years, and the government offered the prime drilling locations to who? You got it: Petrobras. If any other oil companies are allowed in, you know all they'll get is the leftovers.
Now Statoil, or StoilHydro, from Norway, is in a similar situation, and are positioned for some good profits going forword.
As far as Russian oil company Gazprom, which also has a presence in the UK, they are obviously a much more risky investment, but worthwhile testing out with your spare change rather than serious energy investment money. The Gazprom news is a little more volatile than the oil news concerning other energy companies owned by governments.
Now that the idea is being floated around out there that all the easy oil has been accessed (it hasn't but that's a different story), these national oil and natural gas exploration companies should receive a lot of positive attention from news outlets as the idea of scarcity and higher prices woo oil investors.
We're going to see more oil rigs offshore, and those will be installed by companies like statoil, Petrobras and Gazprom.
Many energy investors don't realize the size of some of the state oil companies even when compared to huge oil and gas firms like Exxon Mobile. Exxon Mobile doesn't have anywhere near the oil and gas capacity that these state oil & gas companies have, and they have to pay taxes, contrary to the national oil and gas companies.
Where does that leave us? It leaves us with huge companies that own a monopoly exploring and drilling a natural resource that will be needed for decades and decades ahead.
Those energy companies owned run by those countries operationally sound way, will bring good returns for investors for years to come. Just think of the country producing the oil and gas to see what the risks are. As risky as the country is in other areas, will be the risk involved for investors in oil and gas.
New techniques used allow oil & gas exploration companies to see through the salty ocean bottoms to find new energy reserves. That is what allowed Petrobras to discover the Tupi and other oil fields which had been there all along.
Depending on what your energy investment strategy is and your personal risk disposition, national companies like Gazprom, Statoil and Petrobras could be places you put your dollars for the long haul.
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