MI - Analyst Notes - September 25, 2018Cheniere Energy Inc. (NYSE: LNG; Sept. 21—$68.01; Market Perform)
Due to the merger, shareholders of CQH have received 0.4750 shares of LNG per
share of CQH. This results in less than ~9 million newly issued shares of LNG given LNG's
substantial ownership in CQH of ~92%. LNG had previously tried and
failed at a CQH roll-up in the past, before resorting to purchasing shares
of CQH on the open market up until the May/June deal action. With investor appetites
trending toward streamlined...
Sep 25, 2018
What the Analysts are Saying About 'A&D' - August 08, 2018BHP Billiton (BHP; $43.63—Aug. 6) BHP Billiton Ltd. announced that it entered into agreements to sell its entire
portfolio of U.S. onshore oil and gas assets for a combined $10.8 billion. BP
agreed to buy the Permian, Eagle Ford, and Haynesville assets for $10.5 billion.
Merit Energy agreed to buy the Fayetteville assets for $300 million.
BP will pay the $10.5 billion in installments over six months from
the date of completion, with $5.25 billion of the consideration
to be raised...
Aug 08, 2018
Stronger prices boost earnings, cash flowsOil prices were moderately stronger
in Q3 than they were a year ago, boosting
revenue, cash flows and, in most cases,
earnings for most Canadian oil and gas
companies. Companies
with a high percentage of
revenue from natural gas
sales originating in Alberta struggled as
a glut of supply pushed down natural gas
prices in the region during the quarter.
Most companies saw revenue
and earnings increase from last year,
including Canadian Natural Resources (PG 1), Husky Energy (PG...
Nov 20, 2017
People & Companies - October 27, 2017Blackbird Energy named Karen
Minton as CFO effective immediately. She
has more than 17 years of experience in
senior finance roles in the oil and gas and
other industries. Previously, she
was CFO of Lighthouse Oil &
Gas and corporate controller of
Equal Energy Ltd. Minton was granted
1.0 million stock options exercisable
at a price of $0.375/share until Oct. 19,
2022. Ron Schmitz has stepped down as
Blackbird’s interim CFO and will continue
to serve on the company’s...
Oct 27, 2017
Canadian Scout - People & Companies - January 6, 2017Baytex president Ed LaFehr will succeed James Bowzer as CEO in May 2017. LeFehr joined Baytex in 2016, prior to which he was president of TAQA’s North American oil and gas business before becoming COO of TAQA, globally. He also served as SVP for Talisman Energy, where he was accountable for Canadian assets across Alberta, Saskatchewan and British Columbia.Harvest Operations Corp.’s Piljong Sung resigned from his position as interim president, CEO and executive director after completing...
Jan 06, 2017
What the Analysts are Saying About A&D - As of December 23, 2013Total SA (TOT; $58.47--Dec. 5; Accumulate)TOT farms in to PNG Elk and Antelope fields with InterOil. Farming in to InterOil's PRL 15 license where Elk and Antelope gas fields discovered (XOM, RDS were speculated to be in negotiations). Not a huge deal but price rich vs. our expectations, essentially paying $1B for LNG option which has potential for FID by 2016. 1 train 3.5mmtpa LNG development would cost ~$7-8B (gross) to build TPHe. TOT getting 61% interest and operatorship for $470mm (for...
Dec 23, 2013
Who's Hot, Who's Not - September 6, 2013Upgrades:• Apache Corp. (APA/$85.53/$67.91/$94.87/$33.31B) from Neutral to Buy by Mizuho.• Cimarex Energy Co. (XEC/$85.11/$55.74/$86.28/$7.36B) from Market Performto Outperform by FBR Capital.• Core Laboratories NV (CLB/$152.88/$94.72/$158.29/$6.98B) from Sector Performto Sector Outperform by Howard Weil.• Dril-Quip Inc. (DRQ/$105.22/$65.16/$106.16/$4.28B) from Sector Perform toSector Outperform by Howard Weil.• Exterran Holdings Inc....
Sep 06, 2013
Who's Hot, Who's Not -(As Of March 11)Upgrades:• Atlas America Inc. (ATLS/$42.25/$25.71/$43.20/$2.17B) from Neutral to Outperform by Robert W. Baird.• Cheniere Energy Inc. (LNG/$23.57/$10.51/$23.63/$5.08B) from Equal Weight to Overweight by Barclays.• CONSOL Energy Inc. (CNX/$32.57/$26.41/$37.39/$7.43B) from Market Perform to Outperform by BMO Capital Markets.• Dril-Quip Inc. (DRQ/$83.69/$57.27/$85.55/$3.39B) from Underperform to Buy by BofA/Merrill.• Enduro Royalty Trust...
Mar 11, 2013
Who's Hot, Who's Not - As of January 28Upgrades:• BG Group PLC (BRGYY/$17.95/$15.76/$24.69/$60.96B) from Sector Perform to Outperform by RBC Capital Markets.• Crimson Exploration Inc. (CXPO/$3.19/$2.45/$5.69/$141.02M) from Hold to Buy by Stifel Nicolaus.• Duke Energy Corp. (DUK/$67.75/$59.63/$71.13/$47.78B) from Neutral to Buy by UBS.• Encana Corp. (ECA/$19.35/$17.45/$24.29/$14.25B) from Neutral to Buy by UBS.• FMC Technologies Inc. (FTI/$46.65/$36.89/$55.19/$11.12B) from Equal Weight to...
Jan 28, 2013
Who's Hot, Who's Not-As of January 8Upgrades:• Access Midstream Partners LP (ACMP/$34.76/$22.50/$37.57/$5.14B) from Neutral to Buy by UBS.• Bill Barrett (BBG/$18.03/$15.42/$35.45/$851.95M) from Hold to Buy by Wunderlich.• Concho Resources (CXO/$85.02/$76.17/$116.82/$8.8B) from Outperform to Top Pick by RBC Capital Markets.• Diamond Offshore Drilling Inc. (DO/$70.94/$55.83/$73.50/$9.86B) from Market Perform to Market Outperform by Howard Weil.• Duke Energy...
Jan 08, 2013
People Briefs - August 15, 2018Obsidian Energy named
Aaron Smith as the company’s VP,
Development. Smith has more than
20 years of engineering
expertise in positions of VP,
Production at a diversified
oil and natural gas company based in
Calgary. In addition, Mark Hodgson has
transitioned to the role of VP, Operations
and E&P Services, and Andrew Sweerts
has assumed the role of VPm, Business
Development and Commercial. Permex Petroleum Corp. has
named Peter Dorrins and Dianna
Goldstein as advisory board...
Aug 15, 2018
People & Companies Briefs - March 31, 2016Alvopetro Energy said COO E. John Koch is no longer with the company. No information was provided about a potential replacement.Athabasca Oil Corp. has appointed Bryan Begley to its board as an independent director. Begley is a managing director of 1901 Partners, a private equity firm formed in 2014 to invest in the energy sector. In conjunction with Begley’s appointment, current chair Tom Buchanan and Gary Dundas have retired from the board. Lead director Ron Eckhardt has been...
Mar 31, 2016
People & Companies Briefs - March 18, 2016Alvopetro Energy said COO E. John Koch is no longer with the company. No information was provided about a potential replacement.Athabasca Oil Corp. has appointed Bryan Begley to its board as an independent director. Begley is a managing director of 1901 Partners, a private equity firm formed in 2014 to invest in the energy sector. In conjunction with Begley’s appointment current chair Tom Buchanan and Gary Dundas have retired from the board. Lead director Ron Eckhardt has been appointed...
Mar 18, 2016
Asia Briefs - September 24, 2014• Bangchak Petroleum has acquired majority ownership in Nido Petroleum pursuant to its US$105.1 million (A$112.8 million) offer for the Philippines-focused explorer. Bangchak has therefore declared its Nido offer free of conditions and extended the time for acceptance of the offer to October 3. Bangchak needs to control 90% of outstanding shares to move to compulsory sale by the remaining shareholders. Nido had Q2 working interest production of 2,020 bopd, mostly attributable to its 22.9% WI in...
Sep 24, 2014
Financing Briefs - December 24, 2013• Forestar Group announced closure of its 6.0 million unit sale of 6.0% tangible equity units with net proceeds of $144.8 million. Sale included full exercise of a 600,000-unit underwriter option. Net proceeds will support general purposes to include strategic growth. Units consisted of a prepaid stock purchase contract and an amortizing note. Goldman Sachs led the underwriting with support from six other banks.• Harvest Natural Resources announced the sale of 1.7 million shares of...
Dec 24, 2013