Forest Oil Corp
Forest Oil (NYSE: FST) has decided to enter into a strategic partnership with oil field services giant, Schlumberger (NYSE: SLB), to drill the Eagle Ford Shale acreage. The deal promises Forest Oil $90 million in terms of future drilling costs, and Schlumberger's expertise through a 50% working interest in the acreage.
What led to the deal?
Forest Oil was mainly into natural gas business. But due to the introduction more »
Forest Oil (NYSE: FST) has decided to go into a strategic partnership with the oil field services giant, Schlumberger (NYSE: SLB), to drill the Eagle Ford Shale acreage. The deal promises Forest Oil $90million in terms of future drilling cost and the expertise of oil services giant by promising a 50% working interest in the acreage for Schlumberger.
What led to the Deal?
Forest Oil was mainly into natural gas more »
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Forest Oil (NYSE: FST) is down almost 50% over the last twelve months, but that has not been a deterrent for billionaire Steve Cohen of SAC Capital. A recent SEC filing shows that Cohen upped his stake in Forest Oil by 150%; he owned 4.6 million shares at the end of the third quarter and now owns 11.5 million shares, or 9.8% of Forest Oil's outstanding more »
As a contrarian investor, the topic of this article isn't the Must-Have companies for a high yielding 2013 portfolio. I would rather focus on the Must-Not-Have companies, as their performance could be a real disaster for any portfolio. In my opinion, the following companies will most likely underperform due to fundamental problems and macro headwinds. I am a strong believer that investors will start fleeing the following stocks during more »
SM Energy (NYSE: SM) highlighted the company’s continued focus on the development of its Eagle Ford Shale position and reiterated a commitment to maintaining a strong balance sheet in the midst of rapid growth for the company. These and other comments on the company’s strategy were made at the Barclays CEO Energy Power conference held last week in New York City.
SM Energy is an exploration and more »
Linn Energy, LLC (NASDAQ: LINE) recently announced the acquisition of Wyoming’s Jonah Field from BP PLC (NYSE: BP) for $1.025 billion. The acquisition will add approximately 145 million cubic feet equivalent per day of liquids-rich natural gas production. The deal will also add immediately to Linn’s distributable cash flow per unit. Plus, it offers significant drilling inventory. According to Linn Energy CEO Mark Ellis, “The long-life, low-decline more »
Earnings season for the energy sector for the second quarter of 2012 is set to start in a few weeks and as usual these reports, along with the associated management commentary, will provide information on the current drilling cycle in North America. Here are some issues and trends that should be monitored by those investors that are active in this sector.
One important topic for investors in the more »
Time changes and with time the factors playing in the economy also change. And for survival one has to adapt well to these changes. Just at a time when the world was betting high on the idea of the acquisition of Chesapeake (NYSE: CHK), in a turn of fortunes the company has drilled the highest oil producing well in the company’s 23-year history.
The Ray of Hope:
In a more »
I thought it was blown out of proportion at first, but I saw the effects of the boom with my own eyes two weeks ago in my recent trip to San Antonio, Texas.
When I was purchasing my rental property there in 2006 to escape the subprime crisis woes, I had one idea in mind – asset preservation, due to conservative home equity laws. After seeing the transformation of north San more »
I have to say based on ATP, Forest Oil, and Newfield, it seems the best way to play the industry is to stick with the larger players. Without an increase in production and cash flow, I think ATP may be a better play as a buyout candidate than a long term investment. If they disappear, you might find Newfield or Forest Oil taking their place as one of the most shorted stocks in the market. Let me know what you think in the comments section below.