OPEC Fiddles While Venezuela Burns
Saudi Arabia says OPEC needs to drop production until oil moves back above $75 a barrel. As the largest member in the cartel, it would seem that the kingdom would get its way. No…
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Newest first · Page 473Petroleum Development Corporation Files To Raise Cash (PETD)
Petroleum Development Corporation (NASDAQ: PETD) has just filed a mixed shelf registration with the SEC to allow it to sell securities to raise capital. The securities listed are any combination of debt securities, common…
Kinder Morgan Predicts Future (KMP)
Kinder Morgan Energy Partners (NYSE:KMP) announced this week that it expects to distribute $4.20/common unit as its dividend in 2009. The company will distribue $4.02/unit in 2008. The company based its projections on a…
GeoResources Files To Raise Cash (GEOI)
GeoResources, Inc. (NASDAQ: GEOI) has filed to sell up to $100 million in a mixed securities shelf registration. The company lists and combination of common stock, preferred stock, depositary shares, debt securities, warrants which…
Black Gold Doesn’t Help Black Hills (BKH)
Long after the market closed yesterday, Black Hills Corporation (NYSE:BKH) seriously reduced its guidance for 2008 and its outlook for 2009. Full-year EPS is now expected to come in at $2.00-$2.10, about 7.5% lower…
VeraSun: Who is that White Knight? (VSUNQ, CHSCP)
Ethanol maker VeraSun (VSUNQ) is currently in Chapter 11, and is spreading the suffering to growers because it has stopped buying feedstock (corn) that it can’t pay for. But never fear, help is on…
Is Oil’s Down Escalator Finally Heading Up? (XOM, COP, CEO, PBR, REP, PTR)
Oil company share prices have been in near free fall for the past six months. Exxon Mobil (NYSE:XOM) is off about 20% from its 52-week highs and ConocoPhillips (NYSE: COP) is off about 50%,…
Shell Runs Into a Double Whammy (RDS.A/B)
Royal Dutch Shell (NYSE:RDS.A/B) has been hit with two issues at once. While neither is going to bust the company, multiple problems hitting at once is a bad omen. The oil and gas giant’s…
Venezuela Pushes For OPEC Production Cuts
The finances of OPEC companies are being badly undermined by the drop of crude from $147 during the summer to under $60 recently. Several news reports have indicated that the national budgets in both…
A Takeover in the Oil & Gas Minis (ROYL, ASPN)
Now this is how it’s supposed to work. Royale Energy (NASDAQ:ROYL) has initiated an exchange offer for up to 55% of the outstanding shares of an OTC bulletin board energy company called Aspen Energy…
Not Much Sunshine in Canada Either (CSIQ)
Canadian solar panel maker Canadian Solar Inc. (NASDAQ:CSIQ) reported earnings this morning before the market opened. Revenue for the third quarter was $252.4 million, higher than expectations of $248 million. Analysts expected EPS of…
Sun and Wind Turn Into Clouds and Rain (STP, APWR, JASO, FSLR, ENER)
The point that alternative energy companies are being battered in the stock market is no surprise. Yet some of the companies, at least, are performing fairly well and probably deserve better treatment. Solar PV…
National Oilwell Varco, Schlumberger Team Up (NOV, SLB, BP)
One oilfield services giant, Schlumberger (NYSE:SLB), and one large oilfield services and well manufacturing company, National Oilwell Varco (NYSE:NOV), have announced plans to form a joint venture focused on intelligent well-drilling. National will own…
People Still Driving Less, Oil Demand Destruction
The US Department of Transportation yesterday released its report on traffic volume for the month of September. Compared with 2007, miles driven fell by 4.4% during the month, and cumulative travel for 2008 dropped…
Enterprise Products Gets More Credit (EPD)
Enterprise Products Partners LP (NYSE:EPD), a pipeline master limited partnership, increased its credit facilities by $593 million yesterday. The company obtained a $375 million senior revolving credit facility and a $218 billion senior term…