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Eric Fox

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  • Oil and Gas Production at Last

    By Eric Fox - October 28, 2012 | Tickers: COP, E, XOM, RDS-B, TOT

    The Kashagan field in the Caspian Sea is set to finally begin production sometime in mid 2013, more than a decade after the industry discovered oil and gas here.  This field is a prime example of the increased difficulty in developing large scale oil and gas resources. 

    Overview

    The Kashagan field is located in the Caspian Sea with oil and gas present at depths of approximately 13,800 feet more »

  • Will The Last Canadian Oil and Gas Company Turn Out The Lights?

    By Eric Fox - October 22, 2012 | Tickers: CEO, DNR, ECA, XOM, NXY

    ExxonMobil (NYSE: XOM) announced the purchase of a small cap Canadian exploration and production company as the oil giant looks to increase exposure to various shale plays in western Canada.  This deal underscores the renewed interest in oil and gas development in North America by the major integrated oil companies.

    The Deal

    ExxonMobil is offering $24.50 CAD per share for Celtic Exploration, which is headquartered in Calgary and more »

  • Another One Bites the Dust

    By Eric Fox - October 20, 2012 | Tickers: COP, MRO, MPC, MUR, PSX, WMT

    Murphy Oil ) plans to separate into two independent public companies through a spin off of its downstream subsidiary as this exploration and production company seeks to create shareholder value.   The company may be following the correct long term strategy or succumbing to short term pressure from a large shareholder.

    Rationale

    Murphy Oil gave the usual rationale for the restructuring, including greater strategic focus by management and more efficient resource allocation more »

  • Pure Play Permian Basin Player Hits the Market

    By Eric Fox - October 20, 2012 | Tickers: CXO, FANG, GPOR, LPI, MPO

    Diamondback Energy (NASDAQ: FANG) is the latest exploration and production company to access the capital markets, raising several hundred million dollars through an initial public offering (IPO) of common stock.  The company is a pure play on the Permian Basin and is targeting the development of various oil and liquids formations in this rejuvenated area.

    Initial Public Offering

    Diamondback Energy sold 12.5 million common shares at $17.50 per more »

  • Shale, Shale, Everywhere

    By Eric Fox - October 17, 2012 | Tickers: CEO, COP, XOM, MRO, RDS-B, WIXFF.PK

    Shale oil and natural gas plays are seemingly everywhere these days making it harder and harder for investors to keep current with the vast number of these popular oil and gas areas.  Here are some very early stage shale oil or natural gas plays that might one day add to the global supply of energy.  These plays also carry high risk and should not be the used as the sole more »

  • Another Frontier Area May Yield Oil And Gas Riches

    By Eric Fox - October 17, 2012 | Tickers: APA, BOR, CVX, FOGL, NBL, YPF

    While the Falkland Islands are known mostly for a large population of sheep, this remote area in the south Atlantic is the latest frontier for energy companies exploring for oil and gas resources.  Noble Energy (NYSE: NBL) is one of the operators targeting this area, and has assembled a deep inventory of prospects to help generate long term production and reserve growth for the company.

    Exploration Program

    Noble Energy devotes more »

  • Nevada May Soon be Known for Something Other Than Gambling

    By Eric Fox - October 16, 2012 | Tickers: COG, EOG, HEP, HFC, KMP, NBL

    Noble Energy (NYSE: NBL) is engaged in an exploration program in Nevada, an area of the United States that has seen limited oil and gas activity by the industry.   This effort is a small part of the company’s extensive global exploration program.

    Nevada

    Nevada is not known for its oil and gas resources and there has been limited activity here over the last few decades.  The first oil well more »

  • The Black Gold Oil Boom Continues

    By Eric Fox - October 16, 2012 | Tickers: CLR, EOG, HES, WLL

    Continental Resources (NYSE: CLR) plans to squeeze as much resources as possible out of its properties in North Dakota and Montana as the company continues to lead the industry in developing the Bakken and Three Forks formations. 

    Overview

    Continental Resources has close to one million acres under lease prospective for the Bakken and Three Forks formations and reported oil and gas production of approximately 4.9 million barrels of oil more »

  • SCOOP Play Catches Investors Attention

    By Eric Fox - October 15, 2012 | Tickers: XEC, CLR, DVN, MRO, QEP

    Continental Resources (NYSE: CLR) is bullish on the Woodford Shale in a new area in Oklahoma and plans extensive development of this oil and liquids formation through 2017.  The program is a key part of the company’s plan to triple oil and gas production and proved reserves over the next five years.

    Five Year Growth Plan

    Continental Resources held an analyst day on October 2012 and unveiled a five more »

  • On Your Mark, Get Set, Go

    By Eric Fox - October 10, 2012 | Tickers: APC, APA, BP, RDS-B, STO

    The Federal Government plans to offer offshore oil and gas leases in the Western Gulf of Mexico Planning Area in an auction to be held in November 2012.  The results of this sale should be watched by investors to determine the level of interest by the industry in this important producing area.

    Upcoming Auction

    The Bureau of Ocean Energy Management (BOEM) has proposed holding Lease Sale 229 on November 28 more »

  • Breaking Up Is Easy To Do

    By Eric Fox - October 10, 2012 | Tickers: HY, KRFT, MDLZ, NC, PNR, TYC

    NACCO Industries (NYSE: NC) completed the spinoff of its materials-handling operations through a stock dividend at the end of September 2012, with the new company operating as Hyster-Yale Materials Handling (NYSE: HY).  

    Spinoff

    On Sept. 12, NACCO Industries declared a stock dividend of one share of Hyster-Yale Materials Handling Class A and Class B stock for each share of NACCO Industries Class A and Class B shares owned.  The spinoff more »

  • Do We Really Need Another One of These?

    By Eric Fox - October 9, 2012 | Tickers: APA, BP, COP, XOM, TRP

    A liquefied natural gas (LNG) export plant in Alaska will cost up to $65 billion and take at least ten years to build.  The project is designed to transport and liquefy natural gas from the North Slope of Alaska to export to customers in Asia.

    Alaska LNG

    ExxonMobil (NYSE: XOM), ConocoPhillips (NYSE: COP), BP (NYSE: BP) and TransCanada (NYSE: TRP) were asked by the Governor of Alaska to provide hard more »

  • IPOs Give Energy Investors More Choices

    By Eric Fox - October 9, 2012 | Tickers: FIVE, MRO, MPC, NTI, SMLP, SUSS, SUSP

    Northern Tier Energy (NYSE: NTI) is an energy company involved in various downstream businesses, including refining, pipelines, and retail marketing.  The company recently conducted an initial public offering (IPO) and offers a play on this sub-segment of the energy complex.  

    Initial Public Offering

    Northern Tier Energy IPO’d in July 2012, selling 18.68 million common units at $14 per share.  The company received net proceeds of about $245 million more »

  • A Phoenix Rising from the Ashes

    By Eric Fox - October 9, 2012 | Tickers: APC, BP, CVX, E, XOM, PBR, STO

    Wood Mackenzie predicts that oil and gas production from the Gulf of Mexico will reach two million barrels of oil equivalent (BOE) per day by 2018 or 2019.  This level of production is up more than 40% from current levels and reflects the strong rebound in activity since the Macondo oil spill in 2010.

    Wood Mackenzie Study

    Wood Mackenzie is a consulting firm that conducts research and provides other services more »

  • How Do you Say Exploration in French?

    By Eric Fox - October 8, 2012 | Tickers: BP, CIE, PBR, STO, TOT

    Total (NYSE: TOT) has an extensive collection of exploration prospects and plans to use these properties to generate long-term oil and gas production growth for the company.  These prospects are spread across its global portfolio, including Africa, South America, Iraq and Europe.

    Production Goals

    Total expects to grow oil and gas production by a 3% compound annual growth rate through 2015 and said that the projects needed to generate this more »

  • Iraq Oil Production Scales Up

    By Eric Fox - October 4, 2012 | Tickers: BP, CAM, E, XOM, RDS-B

    Iraq produced more than 3 million barrels per day of crude oil in July 2012, the highest level of oil production for that country since the Gulf War began in 1990, according to the Energy Information Administration (EIA).  This production increase is being generated through the slow rebuilding of the company’s oil and gas fields by various energy companies over the last few years.

    Iraq’s Oil Strategy

    Iraq more »

  • And The Band Plays On

    By Eric Fox - October 4, 2012 | Tickers: CHK, GPOR, PDCE, REXX, WOR

    Exploration and production companies are flocking to the Utica Shale as they look to find emerging plays that produce crude oil and other liquids.  Several of these operators have provided updates on recent activity in this play and investors should expect more news to emerge during the upcoming third quarter earnings season.  

    First Ohio Well

    Rex Energy (NASDAQ: REXX) has 72,200 net acres prospective for the Utica Shale spread more »

  • California's Love-Hate Relationship with Oil and Gas

    By Eric Fox - October 4, 2012 | Tickers: BRY, BBEP, CVX, NFG, OXY | Editor's Choice

    Occidental Petroleum (NYSE: OXY) has considerable oil and gas assets in California and plans to explore its large leasehold position here to help grow the company’s production and reserves over the long term.

    California Oil and Gas

    California has a long history of oil and gas exploration and development, which belies its current reputation as being inhospitable to the industry.  In the mid-19th Century, oil was collected from natural more »

  • Go West, Young Man

    By Eric Fox - September 25, 2012 | Tickers: XOM, OXY, PXP, RDS-B

    While Plains Exploration & Production Company (NYSE: PXP) is known mostly for its offshore oil and gas properties in the Gulf of Mexico and Eagle Ford Shale assets, the company also has a large portfolio of properties in California.

    California Assets

    Plains Exploration & Production Company reported 217 million barrels of oil equivalent (BOE) of proved reserves in California at the end of 2011, and estimates its total resource potential at 482 more »

  • Whither The Coal Industry

    By Eric Fox - September 21, 2012 | Tickers: ANR, ACI, CNX, NRP, BTU

    Alpha Natural Resources (NYSE: ANR) announced a new strategic plan to cope with the abysmal fundamental conditions present in the coal market. The new strategy involves focusing on improving the company’s position in the metallurgical coal market and establishing low cost thermal coal assets in the United States.

    Coal Market

    Demand for coal in the United States has fallen sharply with May 2012 coal consumption reported at 68.5 more »

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