Ultra Petroleum Corp. (UPLMQ) recently won court's approval on Chapter 11 exit plan.
We issued an updated research report on oilfield services player, Schlumberger Limited (SLB) on Mar 6, 2017.
On Mar 2, we issued an updated research report on Nustar Energy L.P. (NS).
McDermott International Inc. (MDR) recently reported that it has been awarded an offshore subsea contract by Hess Corporation (HES).
Today we've highlighted five stocks that are currently trading for under $10 per share. These stocks are also showing signs for solid growth in 2017, and all of them currently hold a Zacks Rank #2 (Buy) or better ranking.
Oil and natural gas exploration and production (E&P) company, Marathon Petroleum Corporation (MPC) recently announced that it has divested of some of its terminal, pipeline and storage assets to MPLX LP (MPLX).
Offshore contract driller SeaDrill Limited (SDRL) reported strong fourth-quarter 2016 earnings owing to a decrease in operating expenses.
Pipeline operator TC PipeLines LP (TCP) reported fourth-quarter 2016 earnings per unit (EPU) of 70 cents that missed the Zacks Consensus Estimate of 73 cents.
Domestic energy explorer Comstock Resources Inc. (CRK) reported fourth-quarter 2016 loss of $2.58 per share (excluding one-time items), substantially wider than the Zacks Consensus Estimate of a loss of $1.37.
Domestic energy explorer Cabot Oil & Gas (COG) matched fourth-quarter earnings estimates and reported an increase in proved reserves.
SM Energy Company (SM) posted fourth-quarter 2016 adjusted loss of 31 cents per share, narrower than the Zacks Consensus Estimate of 39 cents.
Domestic energy explorer, QEP Resources Inc. (QEP) reported loss per share - excluding special items - of 15 cents, narrower than the Zacks Consensus Estimate of a loss of 22 cents.
Natural gas pipeline operator Energy Transfer Partners LP (ETP) reported fourth-quarter 2016 loss of 7 cents per limited partner unit.
On Feb 22, Nabors Industries Ltd. (NBR) reported fourth-quarter 2016 adjusted loss from continuing operations of 30 cents per share,
The Williams Companies, Inc. (WMB) recently hiked its quarterly dividend by 50% to 30 cents per share
McDermott International Inc. (MDR) reported earnings of 2 cents per share in fourth-quarter 2016, which compared favorably with the Zacks Consensus Estimate of a loss of a penny.
Matador Resources Company (MTDR) recently entered into a joint venture with Five Point Capital Partners for the development and expansion of the Delaware Basin midstream assets of the former.
Williams Partners LP (WPZ) reported weaker-than-expected fourth-quarter 2016 earnings, primarily owing to lower volumes and decreased rates from Barnett and Anadarko areas.
Oil transit chokepointsIn 2011, 17,799 ships transited the Suez Canal from both directions, of which 20 percent were petroleum tankers and 6 percent were LNG tankers. Only 1,000 feet wide at its narrowest point, the Canal is unable to handle Ultra Large Crude Carriers (ULCC) and most fully laden Very Large Crude Carriers (VLCC) class crude oil tankers.The 200-mile long SUMED Pipeline, or Suez-Mediterranean Pipeline, provides an alternative to the Suez Canal for those cargos too large to transit through the Canal (laden VLCCs and larger). The crude oil flows through two parallel pipelines that are 42-inches in diameter, with a total pipeline capacity of around 2.4 million bbl/d. Oil flows north through Egypt, and is carried from the Ain Sukhna onshore terminal on the Red Sea coast to its end point at the Sidi Kerir terminal on the Mediterranean. The SUMED is owned by Arab Petroleum Pipeline Co., a joint venture between the Egyptian General Petroleum Corporation (EGPC), Saudi Aramco, Abu Dhabi's National Oil Company (ADNOC), and Kuwaiti companies.The SUMED Pipeline is the only alternative route to transport crude oil from the Red Sea to the Mediterranean if ships were unable to navigate through the Suez Canal. Closure of the Suez Canal and the SUMED Pipeline would divert oil tankers around the southern tip of Africa, the Cape of Good Hope, adding approximately 6,000 miles to transit, increasing both costs and shipping time. According to the International Energy Agency (IEA), shipping around Africa would add 15 days of transit to Europe and 8-10 days to the United States.The majority of crude oil transiting the Suez Canal travels northbound, towards markets in the Mediterranean and North America. Northbound canal flows averaged approximately 535,000 bbl/d of crude oil in 2011. The SUMED Pipeline accounted for about 1.7 million bbl/d of crude oil flows from the Red Sea to the Mediterranean over that same period. Combined, these two transit points were responsible for nearly 2.2 million bbl/d of crude oil flows into the Mediterranean.- - - -http://www.eia.gov/cabs/Egypt/Full.html- - - -http://geroldblog.com/2012/04/21/gas-going-down-in-price/- - - -Canal CharacteristicsTraffic statisticsDetailed Yearly Statistical Report - - - -Suez Canal Reports- - - -http://www.canal-shipping.com/canal%20suez/charac.html- - - -ликбез о Суэцком канале и танкерах