AWE.AX, BPT.AX, CLNE, ESV, NOV, PTEN, PDS, SXY.AX,
PNG LNG Update, WFT
AWE Limited (AWE.AX)
OK Result, Buy on Attractive Discount to Valuation
29 April 2014 ¦ 13 pages ir.citi.com
Beach Energy Limited (BPT.AX)
Result ok. Oil reserves add, but no update on unconventional
29 April 2014 ¦ 15 pages ir.citi.com
Maintain SELL, better value in AWE
Beach Energy (BPT.AX / BPT AU)
Smooth operator
29 April 2014 sendspace.com
We maintain our TP of A$1.90 and OUTPERFORM rating.
Clean Energy Fuels Corp (CLNE)
Q1 Preview: Adjusting Estimates for Tax Credit Impact
28 April 2014 ¦ 8 pages ir.citi.com
Ensco Plc. (ESV)
Putting on a Brave Face
29 April 2014 sendspace.com
National Oilwell Varco Inc (NOV)
Lowering EPS Estimates and Price Target, Maintain Buy
28 April 2014 ¦ 15 pages ir.citi.com
In 1Q14 NOV saw a strong upturn in orders for new drilling rigs, work-over rigs,
and pressure-pumping and coiled tubing equipment destined for the North
America land market. It was the first sign of the much-awaited rebound in U.S.
onshore activity. The offshore rig equipment market soared in 2013 but the
outlook is now less robust due to the recent weakness in offshore rig demand
and pricing.
Precision Drilling Corporation (PDS)
Rebuild, Reuse, Recycle
29 April 2014 sendspace.com
Patterson-UTI Energy, Inc. (PTEN)
EPS Update
29 April 2014 sendspace.com
Senex Energy Limited (SXY.AX)
Production disappoints but reserve to grow from Spitfire/Growler
29 April 2014 ¦ 13 pages ir.citi.com
PNG LNG Update
First Gas Ahead of Schedule, Minor Impact to Valuations
29 April 2014 ¦ 11 pages ir.citi.com
Range Resources Corp (RRC)
Results: Q1’14 Slight Bottom-Line Miss But Production On Target
28 April 2014 ¦ 10 pages ir.citi.com
Weatherford International Ltd (WFT)
Second Half 2014 EPS Acceleration Is the Next Turning Point
28 April 2014 ¦ 19 pages ir.citi.com
Weatherford’s long and painful restructuring and tax remediation journeys seem
to be finally coming to an end, and there is light at the end of the tunnel thanks to
the steadily improving global markets for oilfield services. Annual pre-tax cost
savings of $450 million will be achieved largely by mid-year, non-core asset
divestitures yielding over $1 billion in proceeds should be completed by 4Q14,
and the wind-down of loss-making contracts in Iraq will conclude by 3Q14. These
steps will all make their respective contributions to operating performance very
soon. |
