The Zacks Analyst Blog Highlights: CNOOC, Nexen, China Petroleum & Chemical,
ExxonMobil and Enphase Energy
CHICAGO, Feb. 14, 2013
CHICAGO, Feb. 14, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include CNOOC Ltd. (NYSE:CEO), Nexen Inc.
(NYSE:NXY), China Petroleum & Chemical Corp. (NYSE:SNP), ExxonMobil Corp.
(NYSE:XOM) and Enphase Energy Inc. (Nasdaq:ENPH).
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Here are highlights from Wednesday's Analyst Blog:
CNOOC Clears Final Hurdle for Nexen
Chinese energy giant CNOOC Ltd. (NYSE:CEO) has cleared the final obstacle for
its acquisition of the Calgary, Alberta-based energy producer Nexen Inc.
(NYSE:NXY). The deal price is approximately $15.1 billion in cash.
CNOOC has already received the regulatory approvals in Europe and Canada.
However, it needed the U.S. approval as Nexen has operations in the country.
Now, the Committee on Foreign Investment in the United States (CFIUS) had
finally given its green signal. The deal is expected to close around Feb. 25,
seven months after China's biggest offshore oil and gas producer made its bid
of $27.50 a share.
Although the CFIUS approval is likely to be viewed as a positive development
for CNOOC, it came on the heels of deeper concerns and further discussions.
One of the U.S. legislators planned to bring in legislation to obstruct any
future transaction, like the Nexen one, involving the transfer of royalty-free
Again, one of the representatives of the House Natural Resources Committee,
Edward Markey, said that Chinese oil corporations must not be allowed to drill
in the U.S. Gulf of Mexico region without giving any royalty to the country's
However, this deal marks a significant milestone for CNOOC as it gets hold of
Nexen's biggest reserves in the Canadian oil sands. Calgary, Alberta-based
Nexen operates in western Canada, the Gulf of Mexico, North Sea, Africa and
the Middle East. Apart from oil sands, Nexen remains dynamic in natural gas
exploration in shale rock formations. It owns approximately 300,000 acres of
shale-gas blocks in the Horn River Basin in British Columbia.
As the world's second-largest economy, China has a huge energy requirement.
The Nexen acquisition bid foregrounds not only a bold attempt by CNOOC but
also of other Chinese biggies to make deeper inroads into the international
energy markets with the specific aim of meeting domestic demand. We note that
the CNOOC bid for Nexen marks the biggest Chinese takeover attempt so far.
Recently, another Chinese energy giant China Petroleum & Chemical Corp.
(NYSE:SNP), aka Sinopec, planned to acquire international upstream oil and gas
assets from its parent company, China Petrochemical Corp., or Sinopec Group,
in order to spread its footprint globally. In this regard, Sinopec is eyeing
assets in countries such as the U.K., Russia, Colombia and Kazakhstan.
The transaction – expected in April this year – would position Sinopec on the
same platform with other international energy giants like ExxonMobil Corp.
CNOOC currently retains a Zacks Rank #3 (short-term Hold rating).
Enphase System at Arizona Solar Farm
Enphase Energy Inc. (Nasdaq:ENPH) has announced that Arizona based Cambio
Energy has completed a solar installation at the Tempe Plaza Solar project
using its cutting-edge Enphase Microinverter System. The 302 Kilowatt solar
project includes 1,211 microinverters supplying solar electricity to retail
and office outlets.
Enphase Energy's next generation microinverter system offers innovative
solutions related to operation, maintenance and installation of solar energy
systems. The product's safety, easy installation process and optimum harvest
potential are the essential features that make it superior to the conventional
The company's Enphase Microinverters, Envoy Communications Gateway and
Enlighten web-based monitoring and analysis software work in tandem to provide
greater energy yield and unmatched solar system intelligence.
The microinverters cut off high-voltage DC, help to reduce costs and are time
saving in nature. Along with this, the real-time monitoring capabilities will
allow precise forecasting of total energy production and repair the array for
the lifetime of the system.
As of now, Enphase Energy has exported about 2.6 million microinverters and
has spread its operations in Europe, Asia-Pacific as well as North America.
Recently, the company entered the Australian renewable market joining forces
with RFI Solar for the distribution of Enphase Microinverter System.
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