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U.S. Rig Count Recovery Continues - Analyst Blog
Tuesday, September 21, 2010 - 9:09am | 817In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), reflecting an increase in the land rig count. Rigs exploration and production in the U.S. totaled 1,661 for the...
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Pritchard Capital's Morning Intelligence (ATW, GIFI, NFX, UPL)
Tuesday, September 21, 2010 - 8:53am | 178Pritchard Capital is out with its Morning Intelligence report, covering the oil & gas sector. In the report, Pritchard covers Atwood Oceanics, Inc. (NYSE: ATW), Gulf Island Fabrication, Inc. (NASDAQ: GIFI), Newfield Exploration Co. (NYSE: NFX), and Ultra Petroleum Corp. (NYSE: UPL). In the...
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Zacks Bull and Bear of the Day Highlights: NiSource, McDermott International, BP, Transocean and Halliburton - Press Releases
Tuesday, September 21, 2010 - 8:03am | 1619For Immediate Release Chicago, IL – September 21, 2010 – Zacks Equity Research highlights: NiSource (NI) as the Bull of the Day and McDermott International (MDR) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on BP plc (BP), Transocean Ltd. (RIG) and Halliburton Co. (...
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Key S&P Levels -- 1126 & 1147 09-20-2010
Monday, September 20, 2010 - 7:02pm | 746Cusick's Corner This market appears to be trying to get the pendulum swing to the upside -- key S&P levels to watch are 1126 support and 1147 resistance. If the market breaks the 1126 level, this could signal a deeper pullback. But if the market can accelerate to 1147 on the SPX, this would be...
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Dips Being Met with Bids 09-20-2010
Monday, September 20, 2010 - 3:16pm | 778Cusick's Corner Every dip is being met with a bid at this stage. Even though this market is at resistance and in some cases at an overbought stage, do not let that fool you into thinking that it cannot continue. The afternoon action could be interesting – this bid may squeeze the shorts and...
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Pritchard Says Go Long the Land Drillers
Monday, September 20, 2010 - 12:18pm | 172Pritchard Capital is out with its oil services industry update, and says to go long the land drillers, including Patterson-UTI Energy, Inc. (NASDAQ: PTEN) and Pioneer Drilling Co. (NYSE: PDC). In the research note, Pritchard writes, "Channel checks with the land drillers under our coverage indicate...
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BP Seals Macondo Well Permanently - Analyst Blog
Monday, September 20, 2010 - 9:12am | 499BP plc (BP) has finally plugged the Macondo well. This announcement came yesterday after $9.5 billion (through September 17) in expenditures and five months of continuous effort. Tony Hayward, the outgoing chief executive officer of BP group, termed this as a significant milestone in response to...
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Study Downplays Drilling Ban Losses - Analyst Blog
Friday, September 17, 2010 - 11:06am | 646According to a federal government report released yesterday, the impact of Obama administration's deepwater drilling moratorium in the Gulf of Mexico (GoM) has not been as serious as previously thought. The Background As a reminder, on April 20, offshore driller Transocean Inc's (RIG) ultra-...
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Upside Purchased on Patterson-UTI Energy (PTEN)
Thursday, September 16, 2010 - 1:55pm | 195Shares of Patterson-UTI Energy Inc. (NASDAQ: PTEN) are lower on the session by 2.81%, currently trading at $15.92. The stock has been moving largely higher over the past six months, making higher lows and higher highs. The stock ran into resistance at $16.80, though. Options traders are betting on...
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Interior Department Announced To Plug Oil Well; HERO Gains
Thursday, September 16, 2010 - 10:28am | 96Shares of Hercules Offshore Inc (NASDAQ: HERO) rose after the US Department of Interior announced that oil and gas companies having their operations in the Gulf of Mexico must close 3,500 oil wells that have been unused for at least five years. This will be brought into action with effect from...
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Stock Market News for September 16, 2010 - Market News
Thursday, September 16, 2010 - 10:15am | 1066A rally in the last half hour of trading sent U.S. stocks higher on Wednesday, as Japan's move to rein in the yen helped the U.S. dollar regain some strength. The Japanese currency had risen to a new 15-year high against the greenback on Tuesday, prompting the Japanese prime minister to announce...
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Pritchard Capital's Morning Intelligence (GOK HOS HP MHR NFX NRG XEC)
Thursday, September 16, 2010 - 9:25am | 221Pritchard Capital is out with its Morning Intelligence report. In the report, Pritchard covers Geokinetics Inc. (AMEX: GOK), Hornbeck Offshore Services, Inc. (NYSE: HOS), Helmerich & Payne Inc. (NYSE: HP), Magnum Hunter Resources Corporation (AMEX: MHR), Newfield Exploration Co. (NYSE: NFX),...
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Transocean Ltd. Announces Senior Notes Offering (RIG)
Thursday, September 16, 2010 - 8:30am | 176Transocean Ltd. (NYSE: RIG) today announced the proposed public offering of senior notes of its wholly-owned subsidiary, Transocean Inc. Transocean Ltd. expects to fully and unconditionally guarantee the senior notes. Transocean Inc. intends to use the net proceeds from this offering to fund the...
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Company News for September 15, 2010 - Corporate Summary
Thursday, September 16, 2010 - 7:33am | 656• MasterCard's (NYSE: MA) board approved repurchase of up to $1 billion of its Class A common shares • Needham & Co. maintained its "buy" rating on Varian Semiconductor (NASDAQ: VSEA), but lowered the price target to $32 from $35 • Citigroup (NYSE: C) initiated coverage of General Electric (...
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Anadarko Tries Force Majeure Claim On Diamond Offshore
Thursday, September 16, 2010 - 3:25am | 186Anadarko Petroleum (NYSE: APC), one of the largest U.S. independent oil and natural gas producers, canceled a contract with drilling services provider Diamond Offshore (NYSE: DO) for a rig in the Gulf of Mexico, claiming force majeure due to the government's moratorium on deepwater drilling in the...