New Drilling Yielding Higher Production - Research Report on Magnum Hunter Resources, Pengrowth Energy, Penn West Petroleum, Concho Resources and Enerplus PR Newswire NEW YORK, March 11, 2013 NEW YORK, March 11, 2013 /PRNewswire/ -- Today, Investors Alliance announced new research reports highlighting Magnum Hunter Resources Corp (NYSE:MHR), Pengrowth Energy Corp (NYSE:PGH), Penn West Petroleum Ltd (NYSE:PWE), Concho Resources Inc. (NYSE:CXO) and Enerplus Corp (NYSE:ERF). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below. Magnum Hunter Resources Corp Research Report Magnum Hunter Resources has expanded the borrowing base of its $750 million Senior Bank Credit Facility by 14 percent or $43.75 million from $306.25 million to $350 million, due to organic growth of the company's existing proved reserve base. Magnum Hunter has seen recent success in its recent drilling activities in its three unconventional resource plays, which has led to the reserve base growth. As a result, the company had approximately $115 million of total liquidity including cash and borrowing base availability under its borrowing base. Earlier this year, Magnum Hunter announced a 63 percent year over year increase in the quantity of the Company's estimated total proved oil and gas reserves at December 31, 2012, with 73.1 million barrels of oil equivalent compared to 44.9 million boe the same date in 2011. The Full Research Report on Magnum Hunter Resources Corp - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/0b01_MHR] -- Pengrowth Energy Corp Research Report Pengrowth Energy saw its proved plus probable reserves increase by 55 percent to 512 million barrels of oil equivalent at December 31, 2012 from 330.5 million boe at the end of 2011. It replaced 672 percent of 2012 production, adding 213.2 million boe of 2P reserves for the year at an all-in annual Finding, Development and Acquisition cost of $18.16 per boe including changes in Future Development Capital for 2P reserves. The 2012 FD&A costs, excluding changes to FDC were $9.92 per boe for 2P reserves. In other news, management says the company's Lindbergh thermal bitumen project pilot, which continues to outperform expectations. The pilot is currently producing more than 1,600 barrels per day of bitumen with a steady, instantaneous steam oil ratio of 1.7. To date, the pilot has produced more than 425,000 barrels of bitumen from two well pairs. The Full Research Report on Pengrowth Energy Corp - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/460e_PGH] -- Penn West Petroleum Ltd Research Report Penn West Petroleum posted growth in revenue and earnings for the fourth quarter of 2012 driven by oil and natural gas liquids. Revenue came in at $793.6 million, down 17 percent from the prior-year quarter's $799.7 million, while earnings came in at a loss of 11 cents per share, up from a loss of 13 cents per share year over year. In comparison, analysts wanted to see revenue of $726.7 million and earnings per share of 2 cents. The company has generated cash flow of $295 million for the quarter, and posted $1.25 billion for full year 2012. Meanwhile, average production in Q4 2012 was 153,931 boe per day after the impact of net asset dispositions and weighed approximately 64 percent to oil and liquids. For the current quarter, average estimate for revenue is $656.2 million and a loss of 5 cents per share, while revenue for $2.77 billion and a loss of 4 cents per share is expected this year. The Full Research Penn West Petroleum Ltd - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/4c3c_PWE] -- Concho Resources Inc. Research Report Concho Resources saw its shares rise despite posting lower than expected revenue and earnings per share and a more negative outlook, as the company was able to execute its $1.5 billion capital program and grow production in excess of 20 percent organically. Concho Resources saw its earnings per share decrease 16.52 percent year over year to 96 cents in the quarter from $1.15 per share and saw its revenue decrease 19 percent to $477.5 million from the year-earlier quarter. Management says the company is positioned for future growth in emerging areas such as the Delaware Basin through the acquisition of Three Rivers and internally identified drilling locations and looks forward to executing on its inventory of high rate of return projects. The Full Research Report on Concho Resources Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/eae4_CXO] -- Enerplus Corp Research Report Enerplus saw production and cash flow growth in 2012, particularly in the fourth quarter where it posted a 9 percent increase in production and a higher weighting to crude oil largely due to the successful results of its drilling program at Fort Berthold in North Dakota. Yearly cash flow grew 12 percent from 2011 as a result, and helped replace over 190 percent of production in 2012 at attractive finding and development costs. Production volumes in Q4 increased by 5 percent sequentially and 11 percent year over year, averaging 85,490 BOE per day. Crude oil production for the fourth quarter was 22 percent higher year over year, while Marcellus volumes grew 40 percent sequentially. For this year, the company plans to spend approximately $685 million on exploration and development projects, 20 percent less than what it spent in 2012. Approximately 85 percent of it will be allocated to crude oil and liquids rich natural gas projects, with 75 percent targeted to crude oil specifically. The Full Research Report on Enerplus Corp - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/a561_ERF] -- Consider Investors Alliance Tired of hearing about the latest, greatest trade opportunity... only to realize that the ship has long sailed? You need a strong, informative community in your arsenal. Join the group that has been consistently identifying momentous situations as they develop - long before they become the next top news on major financial networks. Contact: Patricia Byers Email: firstname.lastname@example.org Main: +1-480-745-7826 SOURCE Investors-Alliance
New Drilling Yielding Higher Production - Research Report on Magnum Hunter Resources, Pengrowth Energy, Penn West Petroleum,
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