Keisha Bandz

On November 21, 2016, Whiting Petroleum announced its intention to sell its Bakken midstream assets to an affiliate of Tesoro Logistics Rockies for $375 million.

Approximately 73% of the analysts rate Anadarko a “buy,” 22% rate it a “hold,” and 5% rate it a “sell.” The average broker target price is $72.52.

About 42% of analysts rate Hess a “buy,” and ~58% rate it a “hold.” The average target price of $64.89 implies a return of ~29% in the next 12 months.

Noble Energy (NBL) is expected to release its 3Q16 earnings results on November 2, 2016. What can investors expect?

Apache owns 307,000 contiguous net acres in its Alpine High play that have been secured over the past 18 months at an average cost of $1,300 a net acre.

On September 7, 2016, Apache (APA) announced a new resource play, Alpine High, in the Delaware Basin of Texas.

In its organizational structure, Rice Energy, through its GP Holdings subsidiary, and the public hold 35% and 65% limited partner interest, respectively, in Rice Midstream Partners.

Approximately 33% of analysts rate Apache (APA) a “buy,” and 55% rate it a “hold.” The remaining 12% rate it a “sell.”

Approximately 63% of analysts rate Noble Energy (NBL) a “buy,” and 34% rate it a “hold.” The remaining ~3% rate it a “sell.”

Approximately 65% of analysts rate EQT (EQT) a “buy,” and 30% rate it a “hold.” The remaining 5% rate it a “sell.”

Approximately 73% of analysts rate Anadarko a “buy,” whereas 22% rate it a “hold,” and 5% rate it a “sell.” The average broker target price is $66.50.

Anadarko Petroleum’s (APC) 2016 capex (capital expenditures) budget is $2.6 billion–$2.8 billion, a 50% reduction from $5.4 billion in 2015.

The Midland and Delaware basins, which are sub-basins of the Permian, had IRRs of 15% even at sub-$40 oil prices. Apache (APA) has significant operations in both of these basins.

Cimarex Energy’s (XEC) total production volume in 1Q16 was 973 MMcfe (millions of cubic feet equivalent). This represents a rise of ~3% YoY

For EQT (EQT), Moody’s has provided a Baa3 rating. Standard & Poor’s has given it a BBB credit rating, and Fitch has given it a BBB- rating.

In this series, we will analyze how badly Continental Resources (CLR) was hit by weak oil prices, and what measures it has taken to counter this situation. In 2015, crude oil accounted for 66% of CLR’s total production and 85% of its revenues.

With the recent rally in crude oil prices, Newfield Exploration (NFX) stock has been on an uptrend. On March 1, 2016, it crossed its 50-day moving average for the first time in 2016.

Anadarko Petroleum’s preliminary capex (capital expenditure) budget for 2016 is $2.8 billion—nearly 50% less than 2015 levels.

In this part of the series, we’ll look at Marathon Oil’s (MRO) relative valuation against its peers’ multiples.

On December 7, 2015, in a bid to expand its oil-rich asset base, Devon Energy (DVN) announced acquisitions of oil-focused leaseholds in the STACK and Powder River Basin plays.

On December 11, 2015, Hess was trading 17% below its 200-day moving average, a strong upside resistance for the stock. It has narrowed the gap considerably since October.

Apache’s free cash flow has been mostly negative in the past nine quarters. In 2Q15, it reported FCF of $157 million despite weakness in commodity prices.

Wall Street analysts’ estimate for Cabot Oil and Gas’s revenue was ~$352 million for 3Q15. The company announced adjusted revenue of ~$305 million.

WTI crude oil prices closed 1.83% higher on a weekly basis at $46.05 per barrel in the week ended September 4. Brent crude fell by 0.87% on a weekly basis, closing at $49.61 on September 4.

On Thursday, August 13, the EIA (U.S. Energy Information Administration) published its “Natural Gas Weekly Update” for the week ended August 7.

The U.S. Energy Information Administration reported a decrease of 4.4 million barrels in crude oil inventories for the week ended July 31.

The Energy Select Sector SPDR ETF (XLE) rose 0.22% in the week to June 26. The ETF tracks a diverse group of ~45 of the largest US energy stocks.

Continued production growth set a grim scenario for natural gas prices. High production levels are bearish for natural gas prices.

Gasoline demand increased from ~8.61 MMbpd to ~8.91 MMbpd last week. Gasoline inventories remain outside the five-year range despite the draw in inventories reported on Wednesday.

Distillate demand drives crude demand and crude prices. So, energy investors watch distillate inventories closely.

For 1Q15, analysts are expecting Cheniere Energy Partners’ revenue to come in at $67.1 million. The loss per share estimates have been pegged at -$0.113.

Shell Midstream Partners (SHLX) is a MLP formed by Shell Pipeline Company, an affiliate of the international integrated energy giant, Royal Dutch Shell.

Shell Midstream Partners (SHLX) has a 42% ownership in the Zydeco pipeline, and Shell Pipeline Company, or SPLC, owns the remaining 57% interest.

Shell Midstream Partners (SHLX) has a 28.6% ownership in the Mars pipeline, and Shell Pipeline Company has a 42.9% interest.

The Colonial pipeline system is the largest refined products pipeline in the US based on barrels per mile transported.

MPLX LP (MPLX) is a master limited partnership, or MLP. It was formed by independent refiner Marathon Petroleum Corporation (MPC).

Crude oil inventory levels change based on demand and supply trends. Demand comes primarily from refineries that process this crude into refined products.

Capping the month with a gain of 3.1% since January 30, WTI’s (West Texas Intermediate) increase has been small compared to Brent’s 18% increase.

Plains All American Pipeline expects to spend $1.85 in capex in 2015, highlighted by several projects in multiple geographic regions or resource plays.

Location-advantaged refiners like Valero Energy (VLO), Phillips 66 (PSX), and Marathon Petroleum (MPC), with refineries along the Gulf Coast, can export refined products.

Valero Energy’s (VLO) refining segment’s throughput volumes increased by 41,000 barrels a day compared to the previous year’s fourth quarter.

Natural gas inventory levels have a direct bearing on natural gas prices, which in turn affect the profitability of natural gas producers.

ConocoPhillips’ capex breakdown for 2015 includes major projects, development drilling, exploration and appraisal, and base maintenance.

The Clifton Ridge crude system is made up of three pipelines and two terminals. It supports the Lake Charles refinery in Westlake, Louisiana.

Phillips 66 Partners (PSXP) is a master limited partnership formed by Phillips 66 (PSX). PSXP operations are integral to PSX refineries.

Canton to East Sparta consists of two parallel pipelines that connect MPC’s Canton refinery with the MPLX East Sparta, Ohio, breakout tankage and station.

Currently, there are three major publicly traded independent storage firms, Plains All American Pipeline’s (PAA) natural gas storage subsidiary (PAA Natural Gas Storage), Niska Gas Storage Partners (NKA), and Crestwood Equity Partners (CEQP). PAA is part of the Alerian MLP (or master limited partnership) ETF (AMLP), while CEQP is part of the Global X MLP ETF (MLPA).

Chesapeake Energy (CHK) is an eminent energy exploration and production company in the U.S. Its operations span across the Marcellus, Utica, Niobrara, Mississippian Lime, Eagle Ford, Barnett, and Haynesville shales.

In 2012, EPD entered into a 50:50 joint venture with Plains All American Pipeline (PAA), to service the Eagle Ford Play.