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Pengrowth Energy Trust (PGH)

Canaccord AdamsPengrowth Energy Trust from Hold to Buy.

Dec 18 · 1:05:00 PM
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by Rich Pike

Kayne Anderson Mlp Investment Company (KYN)

Wunderlich downgraded Kayne Anderson Mlp Investment Company from Buy to Hold.

Dec 17 · 8:48:00 PM
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by Rich Pike

Endeavor International Corporation (END)

Thomas Weisel initiated coverage for Endeavor International Corporation with a recommendation of Overweight.

Dec 17 · 8:30:00 PM
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by Rich Pike

Exxon Mobil agreed to buy XTO Energy Inc. for $31 billion. Owners of XTO will get 0.7098 share of Exxon for each of their shares, the companies said today in a statement. The transaction values XTO at $51.69 a share, 25 percent higher than its last closing price.
XTO is the largest producer of U.S. natural gas. This is a bet by Exxon Mobil that U.S. emissions restrictions will spur increased demand for natural gas.

Dec 14 · 1:30:00 PM · Source: Bloomberg.com
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by Rich Pike

Chevron (CVX)

Tokyo Electric Power Company has signed a deal to buy 4.1 million tons of liquefied natural gas per year from Chevron Corp’s Wheatstone project off Western Australia for two decades.
Under the $90 billion deal, Tokyo Electric will also take a 15% stake in Chevron’s holdings in the project and an 11.25% stake in Wheatstone’s onshore processing facilities.

Dec 7 · 2:47:00 PM · Source: Business Spectator
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by Michael Oliveto

Valero Energy (VLO)

U.S. oil refiner Valero Energy said Friday it will permanently shut down its Delaware City, Delaware, refinery because of the weak economic conditions .
The U.S. refining sector has been hard hit this year as weak fuel demand due to the recession.

Nov 20 · 12:57:00 PM · Source: Company News Release
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by Larry Etter

Baker Hughes (BHI)

Data from oil-field services company Baker Hughes indicates that the number of rigs drilling for oil in the U.S. climbed this week, but the gas rig total slipped as producers curbed output in response to low prices.
The number of oil and gas rigs climbed to 1,101, up 23 rigs from the previous week. The number of gas rigs was 728, a decrease of six rigs from last week, while the oil rig count was 361, an increase of 29 rigs. The number of miscellaneous rigs was unchanged at 12 rigs. The number of gas rigs in use peaked at 1,606 in September 2008. Producers have reduced natural-gas drilling sharply over the past several months in response to falling prices, but the rig count has stabilized in recent weeks as producers bet on colder winter weather and an economic recovery that would spark demand for the fuel.

Nov 14 · 4:02:00 PM · Source: The Wall Street Journal · Related: Oil
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by Michael Oliveto

Devon Energy (DVN)

Devon Energy reported Q3 earnings of $1.13 per share on net income of $499 million versus $5.93 per share on net income of $2.6 billion in the year ago period.
"Year to date, Devon increased oil and gas production eight percent compared with 2008," commented President John Richels. "The performance of the company's oil and gas properties has continued to exceed our expectations throughout 2009."

Nov 4 · 3:59:00 PM · Source: Company News Release
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by Michael Oliveto

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