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Halliburton Wins Contract To Develop Iraq Field
Tuesday, August 31, 2010 - 3:22pm | 133Halliburton (NYSE: HAL), the second-largest oil services firm in the world, won a contract from Eni (NYSE: E), Italy's largest oil company, to redevelop the Zubair oil field in southern Iraq. Texas-based Halliburton will test 20 wells and perform other tasks needed to increase oil production....
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Schlumberger Stays Neutral - Analyst Blog
Tuesday, August 31, 2010 - 12:51pm | 579Following the completion of the Smith International Inc. (SII) merger, we maintain our Neutral recommendation for Schlumberger Limited (SLB) shares as we believe that the investment case has not changed to that tune. While the merger diversifies the company’s offerings, the gap with its...
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Pritchard Capital's Morning Intelligence (ELON HAL ITRI RIG SDRL)
Tuesday, August 31, 2010 - 9:18am | 225Pritchard Capital is out with its daily Morning Intelligence report. In today's report, Pritchard covers Echelon Corporation (NASDAQ: ELON), Halliburton Company (NYSE: HAL), Itron, Inc. (NASDAQ: ITRI), Transocean LTD (NYSE: RIG), and Seadrill Limited Ordinary Shares (Bermuda) (NYSE: SDRL). In the...
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Schlumberger Completes Smith Merger - Analyst Blog
Monday, August 30, 2010 - 1:39pm | 536Schlumberger Limited (SLB) completed its proposed merger with Smith International Inc. (SII) last Friday. The closure of the deal follows Smith shareholders’ vote in favor of the merger on August 24. Schlumberger’s superior product line will further be diversified through its offering of Smith’s...
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Bond Traders Selling the News 08-27-2010
Friday, August 27, 2010 - 6:15pm | 819Cusick’s Corner Today we watched well positioned Bond traders (who were long before the Fed’s Quantitative Easing) take advantage of a “selling the news” opportunity in front of the weekend. We also watched the equity market bounce off some critical support levels, finishing on their highs of the...
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Natural Gas Supply on the Rise - Analyst Blog
Friday, August 27, 2010 - 12:21pm | 894The federal government’s Energy Information Administration (“EIA”) reported an in line increase in natural gas supplies, attributable to relatively warm temperatures in most regions that led to robust electric generation demand for the commodity. Stockpiles held in underground storage in the...
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Pritchard Capital's Morning Intelligence (COG, APC, CXPO, FTI)
Friday, August 27, 2010 - 10:06am | 240Pritchard Capital is out with its Morning Intelligence report. In the report, Pritchard covers Anadarko Petroleum (NYSE: APC), Crimson Exploration Inc. (NASDAQ: CXPO), Cabot Oil & Gas (NYSE: COG), and FMC Technologies, Inc. (NYSE: FTI). In the report, Pritchard says that Anadarko reported...
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GOK Surges Following News of $110 Million Contract
Thursday, August 26, 2010 - 2:58pm | 104Shares of Geokinetics Inc (AMEX: GOK) are advancing after the company announced that its subsidiary has received a contract worth $110 million from Mexico's national oil company. GOK’s shares jumped 24.55% to $4.87 at 2.42 pm. GOK’s subsidiary will be doing seismic surveys for Petroleos Mexicanos....
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BHI Gets DOJ Nod for Asset Sale - Analyst Blog
Thursday, August 26, 2010 - 2:03pm | 499Baker Hughes Inc. (BHI) received the approval from the Antitrust Division of the U.S. Department of Justice (DOJ) for the sale of a package of Gulf of Mexico (GoM) based simulation assets. Baker will sell the assets to Superior Energy Services Inc. (SPN) for $55 million as announced on July 6,...
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Mid-Day Market Movers (GOK, GRB, DRL, JAS)
Thursday, August 26, 2010 - 10:57am | 147Geokinetics Inc (AMEX: GOK) climbed 36.83% to $5.35 at 10:39 am. GOK’s subsidiary has received a contract worth $110 million from Mexico's national oil company. Gerber Scientific Inc (NYSE: GRB) jumped 23.00% to $6.31. GRB has reported better-than-expected Q1 results, driven by a rise in orders,...
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Pritchard Capital Sees Benefits To Nuts And Bolts Of Oil Industry As Capex Spending Rises (CPX, HAL, WFT, NBR)
Thursday, August 26, 2010 - 8:53am | 241Pritchard Capital is out with a research report this morning on the nuts and bolts of the oil industry. It sees benefits to Complete Production Services, Inc. (NYSE: CPX) , Halliburton Company (NYSE: HAL) , RPC, Inc. (NYSE: RES) , and Weatherford International, Ltd. (NYSE: WFT), Nabors Industries...
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Goldman Sachs Raises IHS Inc. Price Target (IHS)
Wednesday, August 25, 2010 - 12:44pm | 148Goldman Sachs raised its Price Target on shares of IHS Inc. (NYSE: IHS) to $66 from $58 today. Goldman Sachs maintains a Neutral rating on IHS. IHS Inc. is a source of critical information and insight in areas such as energy, product lifecycle, security and environment. Goldman Sachs notes that "...
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Mad Money Lightning – Stocks According To Cramer (LVS, CRM, SAP, VOD, RLD, HBAN, WCRX)
Tuesday, August 24, 2010 - 6:56am | 190In Monday’s “Mad Money Lightning” round, Jim Cramer appeared bullish on some stocks and not so bullish on others. Cramer remained bullish on Las Vegas Sands (NYSE: LVS) and “likes” Express Scripts (NASDAQ: ESRX). While Rex Energy (NASDAQ: REXX) was a “better energy pick,” RealD (NYSE: RLD) was the...
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FMC Tech Gets $36M Total Project - Analyst Blog
Monday, August 23, 2010 - 8:23am | 362Oil drilling equipment maker FMC Technologies Inc. (FTI) announced the receipt of a $36 million call-off contract from French oil major Total SA (TOT). The deal calls for FMC Technologies to manufacture and supply additional subsea production systems to Total-operated Block 17 development, located...
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Pritchard Capital: Oil Service Weekly Report
Monday, August 23, 2010 - 4:55am | 419Pritchard Capital says, “The Oil Service Index (OSX) fell 2.2%, underperforming the S&P 500's (SPX) 0.7% decline as the front-month crude oil and natural gas prices gave up 3.0% and 5.1%, respectively. Production services stocks were the worst performers, with the group median declining 2.4%,...