| | | NextEra Energy Inc (NEE), Parsley Energy (PE), Woodside Petroleum (WPL.AX)
Russian Integrated Oils,
European Refiners Bi-Monthly,
Citi Focus List US,
Indonesia Energy Sector
NextEra Energy Inc (NEE)
Alert: New Marcellus Gas Pipeline – NEE/EQT
12 June 2014 ¦ 11 pages ir.citi.com
New Pipeline Open Season Announced: NextEra and EQT announced an
open season for the new Mountain Valley Pipeline project which provides an
additional 2+Bcf/d takeaway capacity of Marcellus / Utica gas to the
Southeast. The project has two anchor shippers that committed to 1Bcf/d
under a 20 year contract. The 330 mile pipeline is slated to connect Equitrans
transmission system from Wetzel County, West Virginia, to Transco Zone 5
compressor station 165 in Pittsylvania County, Virginia, and has a targeted in
service date of Q4 2018...
E&P Perspective: From an E&P perspective open season doc says 20
year term at $0.65-0.75/Mcf. Anticipated start is 4Q18, so the term “benefit”
might be generous. SW Marcellus/Utica producers are RRC, EQT, RICE,
CNX/NBL, AR, GPOR, CVX, CHK, MHR, REXX, SGY, PDCE, CRZO and
American Energy (Aubrey). GPOR has strong growth ambitions without
visible firm transport strategies secured. MHR could be thrown in that
camp as well, but their financing strategy is not well defined.
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Parsley Energy (PE)
Prince of the Permian: INITIATING Coverage with an OUTPERFORM Rating and Target Price of $31
Initiate Coverage: We initiate coverage of PE with an Outperform and a $31 target price, assuming parity with our NAV. Our bottom-up analysis suggests that PE's business model is poised to deliver top tier liquids and cash flow growth on a capex adjusted basis, yet the shares trade at a NAV discount to its Northern Midland peers despite having more acreage in the 'core of the core.'
17 June 2014, 54 pages sendspace.com
Woodside Petroleum (WPL.AX / WPL AU)
Shell-ter from the Storm?
17 June 2014 sendspace.com
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Russian Integrated Oils
16 June 2014 ¦ 13 pages ir.citi.com
Oil tax changes afoot, neutral to positive for industry economics;
Removing Lukoil from CEEMEA Focus List on Iraq Risk
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European Refiners Bi-Monthly
It remains tough out there
17 June 2014 sendspace.com
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Citi Focus List US
Adding Valero
13 June 2014 ¦ 7 pages ir.citi.com
Indonesia Energy Sector
Powering the country
17 June 2014, 71 pages sendspace.com |
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