Often, news about growth in the U.S. economy ends up being the dominant theme for the day it comes out. Yet, despite some concerns about a weaker-than-expected GDP report, what really seemed to motivate investors today was the stream of earnings reports, and other individual-company events, that largely cancelled each other out. By the close, the Dow Jones Industrials (DJINDICES: ^DJI ) finished up just 12 points, while the S&P 500 went the other way, falling less than 0.2%.
Among the positive contributors to the Dow was Chevron (NYSE: CVX ) , which climbed more than 1% after releasing earnings that beat expectations. Despite both revenue and income coming in with mid-single-digit percentage declines, the oil giant managed to increase its production volumes slightly, although not enough to offset falling prices for oil and gas. Unlike some of its peers, Chevron's refining division also suffered due to repairs and maintenance work; but, in the long run, the company appears better poised to deliver the growth it will need in order to sustain its massive energy portfolio.
Top Stocks To Buy: Encana Corporation(ECA)
Encana Corporation and its subsidiaries engage in the exploration for, development, production, and marketing of natural gas, oil, and natural gas liquids. The company owns interests in resource plays that primarily include the Greater Sierra, Cutbank Ridge, Bighorn, and Coalbed Methane resource plays located in British Columbia and Alberta, as well as the Deep Panuke natural gas project offshore Nova Scotia in Canada. It also holds interests in resource plays comprising the Jonah in southwest Wyoming, Piceance in northwest Colorado, Haynesville in Louisiana, and Texas resource play, including east Texas and north Texas. The company serves primarily local distribution companies, industrials, energy marketing companies, and other producers. Encana Corporation was founded in 1971 and is headquartered in Calgary, Canada.
Advisors' Opinion:- [By Jeremy van Loon]
Encana Corp. (ECA), the natural gas producer selling assets after losing half its value since 2010, is being urged by investors to cut its dividend and focus on profitable projects in the U.S. and Canada.
- [By David Smith]
Far and wide
Fox's latest version ranges somewhat more widely than its predecessor. Oh sure, there's plenty of attention to environmental damage attributable to Cabot Oil & Gas' (NYSE: COG ) fracking operations in Dimock, Pa., the epicenter of the first film. But�the follow-up also spends considerable time in Pavillion, Wyo., where the Environmental Protection Agency has contended that hydraulic fracturing by Encana (NYSE: ECA ) has sullied the local aquifer. Only lately has the EPA turned over a second investigation into the matter to Wyoming state authorities.
Top 10 Gas Companies To Buy For 2014: Exxon Mobil Corporation(XOM)
Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas, and manufacture of petroleum products, as well as transportation and sale of crude oil, natural gas, and petroleum products. The company manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and other specialty products. As of December 31, 2010, it operated 35,691 gross and 30,494 net operated wells. The company has operations in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. Exxon Mobil Corporation was founded in 1870 and is based in Irving, Texas.
Advisors' Opinion:- [By Tyler Crowe]
Aside from being the leader of the America's Energy Advantage coalition, the company has also spent about $10.5 million for lobbying last year. Much of its efforts have been geared at showing the economic benefits of keeping a lion's share of natural gas here in the U.S. to use for manufacturing. According to the America's Energy Advantage website, the difference between 5 billion cubic feet per day being used in the U.S. for manufacturing vs. exporting it is about $2.5 billion in economic activity for the U.S.. This lobbying effort has put Dow at odds with ExxonMobil (NYSE: XOM ) , which has previously been a strong partner in several lobbying endeavors.
- [By Associated Press]
Large oil companies such as Exxon (NYSE: XOM ) , Chevron (NYSE: CVX ) , Shell, and BP turned up huge discoveries offshore in ultra-deep water with the help of better sensors and faster computers that allowed them to see once-hidden oil deposits.
- [By Douglas A. McIntyre]
Even if crude prices are at two-year highs, $110 per barrel crude has done nothing to help most oil stock prices. Exxon Mobil Corp.’s (NYSE: XOM) share price is down 5% in the past 30 days. Most other big oil stocks have done little better. Either the market does not believe oil prices will stay high, or other negative factors are at work at Wall Street looks at the sector.
- [By Shauna O'Brien]
Before Thursday’s opening bell, Exxon Mobil Corporation (XOM) reported higher Q2 earnings and revenue results despite a a decline in production.�
XOM’s Earnings in Brief
XOM reported a 28% increase in Q2 profits to $8.78 billion, or $2.05 �per share, from $6.86 billion, or $1.55 per share, in the same quarter last year. Revenue increase 4.7% to $111.65 billion. On average, analysts expected to see $1.86 per share in earnings and revenue of $108.38 billion. XOM reported that its exploration and production business rose 25%, while its production dropped 5.7%.CEO Commentary
Exxon’s CEO Rex Tillerson commented:�“Upstream production for the year remains in line with plans and we continue to add volumes from our high quality development portfolio through assets such as the Papua New Guinea LNG project, which started up ahead of schedule during the quarter.”
XOM’s Dividend
Exxon will pay its next 69 cent dividend on September 10 to shareholders of record on August 13. The stock will go ex-dividend on August 11.
Stock Performance
Exxon Mobil shares were down $1.39, or 1.36%, during premarket trading Thursday. The stock is up 2.03% YTD.
XOM Dividend SnapshotAs market close on July 30, 2014
Click here to see the complete history of XOM dividends.
Top 10 Gas Companies To Buy For 2014: Emerge Energy Services LP (EMES)
Emerge Energy Services LP, incorporated on April 27, 2012, owns, operates, acquires and develops a diversified portfolio of energy service assets. The Company operates in two segments: Sand segment, and Fuel Processing and Distribution segment. Sand segment consists of mining and processing frac sand, a component used in hydraulic fracturing of oil and natural gas wells. The Company�� frac sand facilities are located in New Auburn, Wisconsin, Barron County, Wisconsin and Kosse, Texas. Fuel Processing and Distribution segment consists of acquiring, processing and separating the transmix that results when multiple types of refined petroleum products are transported sequentially through a pipeline. The Company�� Fuel Processing and Distribution segment consists of its operations in the Dallas-Fort Worth metropolitan area and Birmingham, Alabama.
Sand Segment
The Company�� Wisconsin sand reserves at its New Auburn and Barron facilities provide the Company access to a range of sand that meets or exceeds all API specifications and includes a concentration of 16/30, 20/40 and 30/50 mesh sands. The Company�� New Auburn dry plant facility has a rated production capacity of 4,200 tons per day, or roughly 40 rail cars, and has on-site rail car loading facilities capable of loading up to approximately 10,000 tons of frac sand into rail cars per day. The Company also has 4.5 miles of existing rail track that connects its facility to the Union Pacific rail line and provides the Company with shipping access to all of the shale basins in the United States and Canada with direct access to areas of oil production in Texas, Oklahoma, Colorado and the western United States. The Company�� Barron facility consists of a sand mine and a wet plant on land. This facility has a rated production capacity of 8,800 tons per day, or roughly 80 rail cars, and has on-site rail car loading facilities capable of loading up to approximately 10,000 tons of frac sand into rail cars per day. The Company ! also mine frac sand at its facility in Kosse, Texas that is processed into a high-quality, 100 mesh frac sand, generally used in dry gas drilling applications.
Fuel Processing and Distribution Segment
The transmix industry consists of businesses that process and separate transportation mixture, which is the liquid interface, or fuel mixture, that forms when multiple types of petroleum products are transported sequentially through a pipeline. Pipeline operators send large batches of different fuel products (such as gasoline, diesel and jet fuel) through the same pipeline, in sequence, to receiving terminals. The Company�� Fuel Processing and Distribution segment consists of its facilities in the Dallas-Fort Worth metropolitan area and in Birmingham, Alabama, which are operated by Direct Fuels and AEC, respectively.
Advisors' Opinion:- [By Aimee Duffy]
Fortune recently addressed this topic, profiling Emerge Energy Services (NYSE: EMES ) and its 2012 tax rate, which was 0.5%. Again, the partnership structure forces the company to pass the majority of its cash -- and its tax burden -- onto the limited partners. According to Fortune, Emerge Energy Services paid Uncle Sam absolutely nothing last year. Emerge took its show public this May and has yet to officially announce a distribution, but you can bet investors will see more cash than the federal government did.
Top 10 Gas Companies To Buy For 2014: Hydrocarb Energy Corp (HECC)
Hydrocarb Energy Corp., formerly Duma Energy Corp., incorporated on April 12, 2005, is a natural resource exploration and production company engaged in the exploration, acquisition and development of oil and gas properties in the United States. The Company maintains an aggregate of approximately 395 gross (217 net) developed acres and approximately 6,120 gross (4,456 net) undeveloped acres, pursuant to leases or acquisitions. Of that acreage, it maintains approximately 176 gross (132 net) developed acres in Louisiana, 219 gross (85 net) developed acres in Texas, 4,614 gross (3,123 net) undeveloped acres in Illinois, 160 gross (150 net) undeveloped acres in Louisiana, and 1,346 gross (1,183 net) undeveloped acres in Texas. The interest holding properties of the Company include The Welder Lease (Barge Canal), Texas; South Delhi/Big Creek Field, Louisiana; The Holt Lease; The Strahan Lease; Janssen Lease, Texas; Koliba Lease, Texas, and Illinois. As of July 31, 2010, the Company had a total of six gross (five net) producing oil wells and one gas well. In December 2013, the Company announced that it has completed the acquisition of Hydrocarb Corporation.
The Welder Lease (Barge Canal), Texas
The Company owns a 100% working interest (90% after payout) and a 72.5% net revenue interest (65.25% after payout) in approximately 81 acres of an oil and gas lease (the Welder Lease). This lease is located in Calhoun County, Texas. Effective January 1, 2010, it acquired the remaining 10% working in the Welder Leases from Treydan Corporation and owned 100% of the working interest. As of July 31, 2010, two wells were producing gas and oil from the property. The wells were operated using a gas lift system. A third well was utilized for salt water disposal. The wells have additional proven non-producing zones behind pipe. The Company focuses to develop the proved developed non-producing (PDNP) zones as producing horizons deplete.
South Delhi/Big Creek Field, Louisiana
! On August 24, 2006, the Company entered into an assignment of oil and gas interests purchase agreement with Energy Program Accompany, LLC (the EPA Purchase Agreement). At the time of the acquisition, one of four wells on the Holt lease and the one well on the Strahan lease were producing assets. The lease consists of the Holt Lease, the Strahan Lease and the McKay Lease (no longer owned). The Company owns a 97% working interest and an 81.25% net revenue interest in approximately 136 acres in Franklin Parish, Louisiana (the Holt Lease). As of July 31, 2010, the Company produced oil from the Holt No.�� 10 and 22 wells. The Holt No. 4 and 24 wells were off-line pending workover or offset drilling. The Holt No. 15 well was utilized as a salt water disposal well. Pursuant to the EPA Purchase Agreement, we acquired a 100% working interest and an 81.25% net revenue interest in approximately 40 acres in Richland Parish, Louisiana (the Strahan Lease). As of July 31, 2010, it produced oil from the Strahan No. 1 well. As of July 31, 2010, the Janssen A-1 well produced between 250-300 mcf gas per day and approximately six barrels per day of condensate.
Koliba Lease, Texas
The Koliba Lease property is located near the Company�� Welder lease and has one shut-in oil/gas well. The well previously produced 30 one stock tank barrel (Bbls) oil per day plus water. The well is in close proximity to the Company�� Welder gas sales line and salt water disposal system. The Koliba No. 2 well was drilled June 2010 and found to be slightly down-dip from the No.1 well. The Company elected to plug the No. 2.
Illinois
During the fiscal year ended July 31, 2010, the Company entered into numerous oil and gas leases in Jefferson and other counties in Illinois. As of July 31, 2010, these leases total approximately 2,994 gross acres, pursuant to which the Company has a working interest of 100% and a net revenue interest of 87.5%. It has an additional 1,620 gross acres under lea! se in Ill! inois.
Advisors' Opinion:- [By Bryan Murphy]
The experts have spoken, and investors would do well to listen (and read between the lines). While Hydrocarb Energy Corp. (OTCBB:HECC) may not be poised to become the next Exxon Mobil Corporation (NYSE:XOM), it is poised to follow in the footsteps of Tullow Oil Plc (OTCMKTS:TUWOY) [long story - more on that below]. Perhaps more bullish than anything right now, however, is that other, independent observers are starting to take notice, and think HECC shares could be worth nearly three times as much as where they're trading now within the foreseeable future.
- [By Bryan Murphy]
It may seem trite (and a little dated) on the surface, but Warren Buffett's sage advice stands as tall today as it did the first time her ever said it.... "Be fearful when others are greedy, and be greedy when others are fearful." And, to say investors have been fearful of oil names like Kosmos Energy Ltd (NYSE:KOS), Africa Oil Corp. (CVE:AOI), and Hydrocarb Energy Corp. (OTCBB:HECC) of late would be an understatement. Not only have all three been pressured against a backdrop of plunging oil prices, HECC, KOS, and AOI have been doubly pressured because a big piece of what they do within their oil exploration exploits is done in Africa, where oil's recent volatility has been particularly disruptive. As Buffett� has accurately explained so many times in the past though, trends have a funny way of ending right around the time most investors are certain they'll never end.
- [By Bryan Murphy]
It's the market's tacit way of saying it expects oil to rebound firmly in the foreseeable future, even if the professionals aren't explicitly saying it. With that being the case, true contrarian speculators - the ones who put their money where their mouth is - may want to consider small cap oil play Hydrocarb Energy Corp. (OTCBB:HECC) as a high-potential way of playing oil's recovery in 2015.
Top 10 Gas Companies To Buy For 2014: Tallgrass Energy Partners LP (TEP)
Tallgrass Energy Partners, LP incorporated on February 6, 2013, is a limited partnership company. It provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through its Tallgrass Interstate Gas transportation system and processing services for customers in Wyoming through its Midstream Facilities. The Company operates in two segments: Gas Transportation and Storage and Processing. The Gas Transportation and Storage segment is engaged in ownership and operation of interstate natural gas pipelines and related natural gas storage facilities that provide services to third-party natural gas distribution utilities and other shippers. The Processing segment is engaged in ownership and operation of natural gas processing and treating facilities that produce natural gas liquids and residue gas that is sold in local wholesale markets or delivered into pipelines for transportation to additional end markets.
The Company provides processing services for customers in Wyoming through its Casper and Douglas natural gas processing and West Frenchie Draw natural gas treating facilities. The Casper and Douglas plants have combined capacity of 138.5 138.5 MMcf/d. The Company has its operations in Lakewood, Colarado. The Company owns and natural gas processing plants in Casper and Douglas, Wyoming and a natural gas treating facility at West Frenchie Draw, Wyoming through its wholly-owned subsidiary, Tallgrass Midstream, LLC.
The Company competes with Kinder Morgan and Southern Star Central Gas Pipeline, Inc.
Advisors' Opinion:- [By Robert Rapier]
Tallgrass Energy Partners (NYSE: TEP) is a midstream limited partnership that provides natural gas transportation and storage services in the Rocky Mountain and Midwest regions of the US. The partnership launched on May 13, 2013 and in late June increased EBITDA guidance above analysts’ expectations, causing units to climb nearly 21 percent by year-end. In December TEP reiterated guidance for 1.2x distribution coverage for the entire year. The partnership recently declared a distribution of $0.3150 per unit for the fourth quarter of 2013 – a 5.9 percent increase from the Q3 2013 distribution. TEP’s annualized yield based on the most recent distribution is 4.8 percent, its current EV is $1.28 billion and its total debt/equity (mrq) is 30.5 percent.
- [By Tyler Crowe]
No. 5:�Tallgrass Energy Partners (NYSE: TEP ) , up 60.5%
If the saying goes "when life gives you lemons, then make lemonade," then one of the themes for the energy world was if oil prices plummet, buy energy investments isolated from oil prices. Tallgrass certainly fits that bill with its interstate gas transmission lines and partial ownership of the Pony Express crude pipeline. - [By Robert Rapier] There were a half a dozen initial public offerings (IPOs) by master limited partnerships in the first half of the year, and all but one are now in the green while one has nearly doubled in value.
The first MLP IPO of 2013 debuted on Jan. 15. USA Compression Partners (NYSE: USAC), which I mentioned in last week’s issue, provides compression services for the oil and gas industry. Units have advanced 36 percent since the IPO, and at the current price yield 7.3 percent.
The day after the USA Compression Partners IPO, CVR Refining (NYSE: CVRR) made its debut. CVRR was spun off from CVR Energy (NYSE: CVI), and both companies remain majority-owned by Carl Icahn. CVR Refining’s primary assets are two refineries located in Kansas and Oklahoma with a combined processing capacity of approximately 185,000 barrels per day (bpd). These refineries are strategically located near the major Cushing, Oklahoma shipment and storage hub, with easy access to discounted feedstock from the nearby Permian basin, as well as the Bakken shale and Canadian oil sands.
But refiners have struggled with diminished margins in 2013 because of a much lower Brent-WTI differential. After the recently concluded second quarter, CVRR declared a distribution of $1.35 per unit, bringing its per-unit distributions for the first half of the year to $2.93. At the same time, CVR Refining lowered its annual distribution target to a range of $4.10 to $4.80 per unit. This was lower than the outlook issued in March, when it foresaw annual distributions of $5.50 to $6.50. CVRR units slid on the news, and are presently trading slightly below the $25 IPO price. The lower end of the revised forecast implies distributions of $1.17 per unit in the second half of the year, for a forward annualized yield of 10 percent based on the recent $23.50 unit price.
SunCoke Energy Partners (NYSE: SXCP) was the third IPO to debut during a very busy third week of January. SXCP is the first M
Top 10 Gas Companies To Buy For 2014: Newfield Exploration Co (NFX)
Newfield Exploration Company (Newfield), incorporated on December 5, 1988, is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The Company�� domestic areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas. Internationally, it focuses on offshore oil developments in Malaysia and China. As of December 31, 2011, it was in the process of drilling 16 gross (9.6 net) exploitation wells and 24 gross (19.7 net) development wells domestically. As of December 31, 2011, internationally, it was drilling one gross (0.6 net) exploratory well in Malaysia. In May 2011, the Company acquired assets in the Uinta Basin of Utah.
Resource Plays
As of December 31, 2011, the Company owned an interest in approximately 825,000 net acres in the Rocky Mountains area. Its assets are oil. It is an operator in the state of Utah, consisting approximately 30% of the state�� total oil production. It has approximately 230,000 net acres in the Uinta Basin and its operations in the Basin can be divided into two areas: its legacy Monument Butte and its position in the Central Basin, located immediately north and adjacent to Monument Butte. It has approximately 1,800 oil wells in the Green River formation in its Monument Butte field. Its acquisition of acreage north of Monument Butte added approximately 65,000 net acres, including the Uteland Butte and Wasatch formations. During the year ended December 31, 2011, it had drilled approximately 20 wells in these new plays with encouraging results. As of December 31, 2011, its net production from the Uinta Basin was approximately 22,000 barrels of oil equivalent per day.
The Company has approximately 65,000 net acres under development on the Nesson Anticline of North Dakota and west of the Nesson. In addition, it has about 40,000 net acres in the mature Elm Coulee field, located in Richland County, Montana. As of December 31, 2011, it had! drilled 67 wells in North Dakota with production from the Bakken formation. Its acreage is also prospective for the Sanish/Three Forks formation. As of December 21, 2011, its net production was approximately 7,500 barrels of oil equivalent per day. It has approximately 340,000 net acres in the Southern Alberta Basin of northern Montana. Its activities in the Mid-Continent have been focused on two natural gas plays - the Arkoma Woodford and the Granite Wash. As of December 31, 2011, it had approximately 480,000 net acres in the Mid-Continent and its production was approximately 330 millions of cubic feet equivalent per day.
The Company has more than 300,000 net acres in Oklahoma�� Woodford play. Approximately 170,000 net acres are in the Arkoma Woodford Basin. As of December 31, 2011, its net daily production in the Arkoma Woodford was approximately 180 millions of cubic feet equivalent per day. As of December 31, 2011, it had more than 125,000 net acres in the Cana Woodford play, located in the Anadarko Basin. The Company has approximately 50,000 net acres in the Granite Wash, located in Oklahoma and the Texas Panhandle. As of December 31, 2011, its net production from the region was approximately 101 millions of cubic feet equivalent per day. Its producing field in the Granite Wash includes Stiles/Britt Ranch, where it operates and owns 17,000 net acres. During 2011, it ran three to four operated rigs in the Granite Wash. It has approximately 317,000 net acres in the Eagle Ford and Pearsall shales in the Maverick Basin, located in Maverick, Dimmit and Zavala counties, Texas. As of December 31, 2011, it completed a total of 54 wells in the basin and its production was approximately 3,800 barrels of oil equivalent per day. The acreage includes multiple geologic horizons, including the Georgetown, Glen Rose, Pearsall, Austin Chalk and the Eagle Ford.
Conventional Plays
The Company has operations in conventional plays onshore Texas, offshore Malaysia and China and! in the G! ulf of Mexico. As of December 31, 2011, it owned an interest in approximately 147,000 net acres in conventional onshore Texas plays with net production of approximately 88 millions of cubic feet equivalent per day. Its international activities are focused on offshore oil developments in Southeast Asia and China. It has production and active developments offshore Malaysia and the People�� Republic of China. As of February 21, 2012, its net production from Malaysia was at 29,000 barrels of oil equivalent per day. It has an interest in approximately 925,000 net acres offshore Malaysia and approximately 290,000 net acres offshore the People�� Republic of China.
As of December 31, 2011, the Company owned interests in 91 deepwater leases and approximately 275,000 net acres. As of December 31, 2011, its net production from the Gulf of Mexico was approximately 75 millions of cubic feet equivalent per day. In February 2012, production commenced from its deepwater Pyrenees development, with net daily production of approximately 3,300 barrels of oil equivalent per day.
Advisors' Opinion:- [By Ben Eisen and Saumya Vaishampayan]
Newfield Exploration Co. (NFX) �shares shed 4.1%, along with other energy stocks.
- [By Matt DiLallo]
Kodiak has been working hard to get its well costs down, but it still has a long way to go. What's important for Kodiak investors to realize is that it's not an impossible task. For example, over the past year Newfield Exploration (NYSE: NFX ) has been able to improve its well costs significantly. While its average well cost in the first quarter of this year was $9.8 million, more recent wells have been drilled for around $8.3 million.
- [By Johanna Bennett]
Energy shares felt the pressure WPX Energy (WPX) fell 1.85% to $18.60, and Newfield Exploration (NFX) fell 2.8% to $29.16.
Still, the�pact was�widely viewed as a benefit for markets here and abroad.
- [By Victor Selva]
Competitors such as Sandridge Energy Inc. (SD), Penn Virginia Corp. (PVA), Newfield Exploration Co. (NFX) also have a negative ROE. An alternative could be Cabot Oil &Gas Corp. (COG), Range Resources Corp. (RRC), SM Energy Co. (SM), Pioneer Natural Resources Co. (PXD) or Whiting Petroleum Corp (WLL), Berry Petroleum Co. (BRY), but for investors searching for a higher ratio, Continental Resources Inc. (CLR) will be the best option.
Top 10 Gas Companies To Buy For 2014: New Source Energy Partners LP (NSLP)
New Source Energy Partners L.P., incorporated on October 2, 2012, is engaged in the acquiring oil and natural gas properties in the United States. The Company�� properties consist of non-operated working interests in the Misener-Hunton formation (the Hunton Formation), a conventional resource reservoir located in east-central Oklahoma. As of June 30, 2012, of which approximately 58% were classified as proved developed reserves and of which approximately 76.4% were comprised of oil and natural gas liquids. As of June 30, 2012, the Company had 89,116 gross (31,554 net) acres, of which 6,796 gross (2,323 net) acres were undeveloped. As of June 30, 2012, the Company had 127 gross (28.5 net) proved undeveloped drilling locations, of which 66 gross (20.7 net) were infill drilling locations. In June 2013, New Source Energy Partners LP announced that it has acquired additional oil and natural gas properties from New Source Energy Corporation. In November 2013, New Source Energy Partners LP acquired MCE LP.
The Company�� properties are located in the Golden Lane field within the Hunton Formation of east-central Oklahoma and consist of mature, legacy oil and natural gas reservoirs. The Company�� properties consist of non-operated working interests in producing and undeveloped leasehold acreage, including 215 gross (82.4 net) producing wells with working interests ranging from 21% to 87% (38.3% weighted average); and 127 gross (28.5 net) proved undeveloped drilling locations with working interests ranging from 1% to 84% (22.4% weighted average). As of June 30, 2012, the Company had 89,116 gross (31,554 net) acres in the Golden Lane field.
Advisors' Opinion:- [By Robert Rapier]
New Source Energy Partners (NYSE: NSLP) debuted in February 2013 as the year’s first initial public offering of an upstream master limited partnership, with an initial enterprise value (EV) of $186 million. The partnership is engaged in the development and production of liquids-rich conventional resource reservoirs in east-central Oklahoma.
- [By Lee Jackson]
New Source Energy Partner L.P. (NYSE: NSLP) is definitely a name for investors interested in yield. While the company faced some issues in the second quarter due to flooding in some of its drilling areas, production is back to normal and management is very positive for the remainder of 2013. Oppenheimer has a $23 price objective, while the consensus is at $24. Investors are paid a stellar 11% distribution.
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