Drilling Services Contract, Operational Update, Recognitions, and Earnings Release Schedule - Analyst Notes on Atwood Oceanics, Halcon, MRC Global, Cenovus and Goodrich Petroleum
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NEW YORK, June 24, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Atwood Oceanics, Inc. (NYSE: ATW), Halcon Resources Corp. (NYSE: HK), MRC Global Inc. (NYSE: MRC), Cenovus Energy Inc. (NYSE: CVE) and Goodrich Petroleum Corp. (NYSE: GDP). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4050-100free.
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Atwood Oceanics, Inc. Analyst Notes
On June 18, 2014, Atwood Oceanics, Inc. announced that CNOOC Africa Limited has awarded one of its subsidiaries with a drilling services contract for semisubmersible rig Atwood Hunter. In relation to the contract, an Atwood subsidiary and Guinea Ecuatorial de Petroleos (GEPetrol) had a mutual agreement to terminate their previously announced contract for the Atwood Hunter provided certain conditions are met. According to the Company, the contract will be performed offshore Equatorial Guinea at a specified day rate of $337,000 for a minimum term of 90 days, while a day of rate of $330,000 will be applied from 91 to 180 days, while any term in excess of 181 days shall have a day rate of $325,000. The full analyst notes on Atwood Oceanics are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/ATW/report.pdf
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Halcon Resources Corp. Analyst Notes
On June 9, 2014, Halcon Resources Corp. (Halcon) released an operational update on its 314,000 net acre position in the Tuscaloosa Marine Shale. According to the Company, the Horseshoe Hill 11-22H-1 well in Wilkinson County, Mississippi reached a 24-hour average initial production rate of 1,208 barrels of oil per day and 1.1 million cubic feet per day of 1,551 BTU natural gas on a 19/64 inch choke. Halcon added that it estimates the well to produce an additional 212 barrels of NGLs per day for a total 24-hour average initial production rate of 1,548 barrels of oil equivalent per day. The Company also announced plans to spud 10 to 12 operated wells in the Tuscaloosa Marine Shale running an average of two rigs in 2014. Additionally, Halcón announced that it has entered into a definitive agreement with credit funds and accounts managed by affiliates of Apollo Global Management, LLC, which will invest up to $400 million in the Company's wholly owned subsidiary, HK TMS, LLC. Upon completion of the agreement, HK TMS will hold all of Halcón's acreage in Mississippi and Louisiana that is prospective for the TMS formation. The full analyst notes on Halcon are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/HK/report.pdf
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MRC Global Inc. Analyst Notes
On June 17, 2014, MRC Global Inc. (MRC Global) announced that it will release its Q2 2014 results on July 31, 2014 after the market closes. To discuss the results, the Company will also be holding a conference call on August 1, 2014 at 10:00 a.m. Eastern / 9:00 a.m. Central, which will be webcast live via MRC Global's website. The full analyst notes on MRC Global are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/MRC/report.pdf
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Cenovus Energy Inc. Analyst Notes
On June 5, 2014, Cenovus Energy Inc. (Cenovus) announced that it has received recognition for being one of Canada's most responsible companies. For the third consecutive year, the Company was included in the list of the Top 50 Socially Responsible Corporations in Canada by the Maclean's magazine and Sustainalytics. In a separate ranking, Cenovus was also recognized by Corporate Knights magazine as one of the Best 50 Corporate Citizens in Canada for the fourth year in a row. Cenovus' Executive Vice President for Environment & Corporate Affairs, Sheila McIntosh commented, "We strive to develop our resources responsibly by integrating social, environmental and good governance considerations into all that we do. We believe that's just good business and we're pleased that our corporate responsibility efforts continue to be recognized year after year by these organizations." The full analyst notes on Cenovus are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/CVE/report.pdf
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Goodrich Petroleum Corp. Analyst Notes
On June 18, 2014, Goodrich Petroleum Corp. (Goodrich Petroleum) announced that it has completed its Nunnery 12-1H-1 well in Amite County, Mississippi with 22 frac stages. According to the Company, the well achieved a peak 24-hour average production rate to date of approximately 815 barrels of oil equivalent per day, comprised of 785 barrels of oil and 185 Mcf of gas on a 17/64 inch choke from an approximate 6,000 foot lateral. The Company also announced the completion of frac operations, drilled out the frac plugs and will start flow back on its Beech Grove 94H-1 well in East Feliciana Parish, Louisiana this week, with results expected by the end of June 2014. The Beech Grove well was drilled with an approximate 6,000 foot lateral and completed with 21 frac stages. Goodrich Petroleum informed that it is currently running three rigs in the Tuscaloosa Marine Shale with plans to go to as many as five rigs by the end of 2014. The full analyst notes on Goodrich Petroleum are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/GDP/report.pdf
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