Showing posts with label Continental Resources. Show all posts
Showing posts with label Continental Resources. Show all posts
Friday, October 12, 2012
Alpha (ANR) (CLR) (ENRC) (OGE) (CMLP) (AAUKY) Ratings
Alpha Natural Resources (ANR), Continental Resources, Inc. (CLR), Eurasian Natural Resources (ENRC), OGE Energy Corp. (OGE), Anglo American plc (AAUKY) and Crestwood Midstream Partners LP (CMLP) had ratings on them adjusted or initiated.
Howard Weil upgraded Continental Resources, Inc. (CLR) from a "Market Perform" rating to an "Outperform" rating. They have a price target of $99.00 on the company.
Barclays Capital initiated coverage on Eurasian Natural Resources (ENRC). They placed an "Equalweight" rating on the company.
Jefferies Group upgraded OGE Energy Corp. (OGE) from a "Hold" rating to a "Buy" rating. $58.50 $63.50
Nomura downgraded Alpha Natural Resources (ANR) from a "Buy" rating to a "Neutral" rating. $8.00
HSBC downgraded Anglo American plc (AAUKY) from an "Overweight" rating to a "Neutral" rating.
Citigroup (C) initiated coverage on Crestwood Midstream Partners LP (CMLP). They placed a "Neutral" rating and price target of $24.00 on the company.
Thursday, October 14, 2010
Continental (NYSE:CLR) May Triple Production by 2014
At their analyst day Continental Resources (NYSE:CLR) said they have a target of increasing production by three times what they are now, along with their reserves.
One concern by those attending was the capital expenditure needed to generate that type of growth.
Attending the function, Ticonderoga Securities said, "The two keys to the puzzle for CLR are the Bakken, where it has 865,000 net acres and 540MM boe of net unrisked reserve potential, and the Anadarko Woodford, where CLR boasts 252,000 net acres and 1.5B boe of net unrisked reserve potential. Additionally, there is another 228MM boe of net unrisked reserve potential in the Arkoma Woodford and the Niobrara.
"If there has been disappointment at the meeting, it stems from investors
expecting that the growth would not come at so steep a cost. We were modeling capex within cash flow for 2011 (approximately $1B), but CLR is now guiding toward $1.36B (91% earmarked for drilling, and 92% of the drilling is earmarked for the Bakken and the Woodford)."
Ticonderoga said they maintain a "Neutral" on CLR.
One concern by those attending was the capital expenditure needed to generate that type of growth.
Attending the function, Ticonderoga Securities said, "The two keys to the puzzle for CLR are the Bakken, where it has 865,000 net acres and 540MM boe of net unrisked reserve potential, and the Anadarko Woodford, where CLR boasts 252,000 net acres and 1.5B boe of net unrisked reserve potential. Additionally, there is another 228MM boe of net unrisked reserve potential in the Arkoma Woodford and the Niobrara.
"If there has been disappointment at the meeting, it stems from investors
expecting that the growth would not come at so steep a cost. We were modeling capex within cash flow for 2011 (approximately $1B), but CLR is now guiding toward $1.36B (91% earmarked for drilling, and 92% of the drilling is earmarked for the Bakken and the Woodford)."
Ticonderoga said they maintain a "Neutral" on CLR.
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