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Last Update: 06-Dec-12 11:15 ET
S&P Energy Index is slightly lower, underperforming the S&P 500
The S&P Energy Sector -0.1% is trading below the broader market at +0.2%. Jan crude oil is -2.0% at $86.17/barrel, Jan natural gas is -1.5% at $3.64/MMBtu, Jan RBOB is -1.2% at $2.61/gallon, and Jan heating oil is -1.1% at $2.96/gallon. Gainers on news: SOQ (+19.2%) Sonde Resources announced North Africa update, IVAN (+13.3%) Ivanhoe Energy received Ministry of Commerce approval to transfer China's Zitong Block, PEIX (+6.4%) Pacific Ethanol received extension to regain compliance with NASDAQ listing requirements, NBL (+2.2%) Noble Energy announced 2013 capital program and guidance, provided 4Q2012 updates; co expects 4Q2012 sales volumes from continuing operations to be above the upper limit of its prior estimate of 248 to 252 MBoe/d, CLD (+1.6%) Cloud Peak Energy: Ambre Energy to purchase remaining Decker mine interest from Cloud Peak Energy and companies to settle Decker litigation, CVX (+0.8%) Chevron announced $36.7 bln capital and exploratory budget for 2013, BWC (+0.3%) B&W announced plan to increase near-term share repurchase activity by up to $50 mln, SU (+0.3%) Suncor Energy provided an update on its Firebag in situ facility; November oil sands production was lower than anticipated averaging ~312,000 bbls/d, OXY (+0.1%) Occidental Petro changed fourth quarter dividend payment date.
Decliners on news: NAT (-3.1%) Nordic American Tanker announced that one of its ships was detained for a short while in a US port, MEMP (-3.1%) Memorial Production Partners announced a 10.5 mln unit public offering of common units, MTDR (-1.9%) Matador Resources announced 2013 capital budget; 2013 guidance of 1.6-1.8 mln barrels of oil production, up about 40% from 2012, 2013 guidance of 11-12 Bcf of natural gas production, down about 8% from 2012, REN (-1.5%) Resolute Energy priced private placement of an additional $150 mln in principal amount of its 8.50% senior notes due 2020, CAM (-0.8%) Cameron International Director sold 100,000 shares at $54.51-54.59 worth ~ $5.5 mln, NOV (-0.8%) Natl Oilwell Varco announced new CFO and COO. Broker calls: CPE (+5.8%) Callon Petroleum initiated with a Buy at Brean Capital, ANR (+1.4%) Alpha Natural Resources tgt lowered to $11 at Howard Weil, EPM (+1.0%) Evolution Petroleum initiated with a Buy at Brean Capital, SARA (+1.0%) Saratoga Resources initiated with a Buy at Brean Capital, SYRG (+1.2%) Synergy Resources initiated with a Buy at Brean Capital, CVX (+0.9%) Chevron upgraded at Dahlman Rose, MIND (+0.9%) Mitcham Ind downgraded at Johnson Rice, MMR (-3.2%) McMoRan Expl downgraded at Landenburg and at CapitalOne, PXP (-1.6%) Plains Exploration downgraded at CapitalOne, Johnson Rice, Global Hunter Securities, BMO Capital Mkts, and Raymond James.
Decliners on news: NAT (-3.1%) Nordic American Tanker announced that one of its ships was detained for a short while in a US port, MEMP (-3.1%) Memorial Production Partners announced a 10.5 mln unit public offering of common units, MTDR (-1.9%) Matador Resources announced 2013 capital budget; 2013 guidance of 1.6-1.8 mln barrels of oil production, up about 40% from 2012, 2013 guidance of 11-12 Bcf of natural gas production, down about 8% from 2012, REN (-1.5%) Resolute Energy priced private placement of an additional $150 mln in principal amount of its 8.50% senior notes due 2020, CAM (-0.8%) Cameron International Director sold 100,000 shares at $54.51-54.59 worth ~ $5.5 mln, NOV (-0.8%) Natl Oilwell Varco announced new CFO and COO. Broker calls: CPE (+5.8%) Callon Petroleum initiated with a Buy at Brean Capital, ANR (+1.4%) Alpha Natural Resources tgt lowered to $11 at Howard Weil, EPM (+1.0%) Evolution Petroleum initiated with a Buy at Brean Capital, SARA (+1.0%) Saratoga Resources initiated with a Buy at Brean Capital, SYRG (+1.2%) Synergy Resources initiated with a Buy at Brean Capital, CVX (+0.9%) Chevron upgraded at Dahlman Rose, MIND (+0.9%) Mitcham Ind downgraded at Johnson Rice, MMR (-3.2%) McMoRan Expl downgraded at Landenburg and at CapitalOne, PXP (-1.6%) Plains Exploration downgraded at CapitalOne, Johnson Rice, Global Hunter Securities, BMO Capital Mkts, and Raymond James.
