EmailThe S&P Energy Sector -0.7% is trading below the broader market at -0.3% Dec crude oil is +1.6% at $86.80/barrel, Dec natural gas is +0.9% at $3.74/MMBtu, Dec RBOB is +0.6% at $2.71/gallon, and Dec heating oil is +0.1% at $2.98/gallon. Trading higher following earnings/guidance: MY (+3.2%); Trading lower: ATW (-3.7%). Gainers on news: IOC (+4.1%) InterOil was notified by the Prime Minister Hon. Peter O'Neill that the NEC of Papua New Guinea has approved IOC's LNG development project in the Gulf Province, MCEP (+2.6%) Mid-Con Energy Partners announced borrowing base increase to $130 mln, SWX (+0.9%) Southwest Gas Director bought 10,000 shares at $39.50 worth ~ $400K, HFC (+0.9%) HollyFrontier announced retirement of Executive Chairman Matthew Clifton. Decliners on news: LPR (-3.1%) Lone Pine Resources submitted NAFTA Notice of Intent in response to expropriation of rights in Quebec, NGLS (-2.3%) Targa Resources announced pricing of public offering of 9.5 mln common units at $36.00 per unit, WFT (-1.5%) Weatherford International Director and SVP bought 35,100 shares at $8.99-9.20 worth ~ $300K, RIG (-1.1%) Transocean announced repurchase offer for 1.50% series C convertible senior notes due 2037 of Transocean Inc., HES (-0.4%) Hess Director disclosed buying 5K shares at $50.16 on 11/13, worth ~$250K, PACD (-0.3%) Pacific Drilling announced contract worth up to $527 mln for the Pacific Khamsin, SDRL (-0.2%) Seadrill Ltd subsidiary acquired ultra-deepwater semi-submersible rig Songa Eclipse for a consideration of $590 mln.
Broker Calls: KWK (+7.5%) Quicksilver Resrcs upgraded at Macquarie, CQP (+2.6%) Cheniere Energy Partners upgraded at Barclays, HFC (+0.9%) HollyFrontier initiated with an Outperform at Imperial Capital; tgt $50, TRGP (+0.9%) Targa Resources upgraded at Tudor Pickering, RES (+0.3%) RPC upgraded at Dahlman Rose, SNP (+0.2%) China Petroleum (Sinopec) upgraded at Citigroup, BAS (-2.4%) Basic Energy Services initiated with Hold at MLV, WFT (-1.7%) Weatherford initiated with Hold at MLV, SPN (-1.5%) Superior Energy Services initiated with Hold at MLV, TSO (-1.5%) Tesoro initiated with an In-line at Imperial Capital; tgt $41, KEG (-1.5%) Key Energy Services initiated with Hold at MLV, CAM (-1.1%) Cameron initiated with Buy at MLV, HAL (-0.8%) Halliburton initiated with Hold at MLV, VLO (-0.6%) Valero Energy initiated with an In-line at Imperial Capital; tgt $33, FANG (-0.6%) Diamond Energy initiated with a Market Outperform at Howard Weil; tgt $25, OIS (-0.3%) OilStates initiated with Buy at MLV, SDRL (-0.2%) Seadrill Ltd upgraded at Credit Suisse.
