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New Drilling Yielding Higher Production - Research Report on Magnum Hunter Resources, Pengrowth Energy, Penn West Petroleum,



  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]

--

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Contact: Patricia Byers
Email: press@investors-alliance.com
Main: +1-480-745-7826

SOURCE Investors-Alliance
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