NEW YORK, June 7, 2013 /PRNewswire/ --
Today, Wall Street Reports announced new research reports
highlighting Diamond Offshore Drilling, Inc. (NYSE: DO), Atwood
Oceanics, Inc. (NYSE: ATW), Hercules Offshore, Inc. (NASDAQ: HERO),
Penn West Petroleum Ltd. (NYSE: PWE), and Halcon Resources
Corporation (NYSE: HK). Today's readers may access these reports
free of charge - including full price targets, industry analysis
and analyst ratings - via the links below.
Diamond Offshore Drilling, Inc.
Research Report
On May 29, 2013, Diamond Offshore
Drilling, Inc. (Diamond Offshore) announced an agreement with
Hyundai Heavy Industries Co., Ltd. to build a new Moss CS60E design
harsh environment semisubmersible drilling rig. The Company expects
the 10,000 ft. dynamically positioned rig to be delivered after
November 2015. Projected capital cost
of the unit, including spares, commissioning, and shipyard
supervision, is approximately $755
million. Further, Diamond Offshore announced that it has
entered into a three-year drilling contract with a subsidiary of BP
plc to utilize the rig for initial operations off the coast of
South Australia. The initial
operating dayrate under the drilling contract is $585,000 per day, and is subject to upward
adjustment for certain increased operating costs and equipment
modifications. The Full Research Report on Diamond Offshore
Drilling, Inc. - including full detailed breakdown, analyst ratings
and price targets - is available to download free of charge at:
[http://www.wsreports.com/r/full_research_report/99f2_DO]
Atwood Oceanics, Inc. Research
Report
On June 4, 2013, Atwood Oceanics,
Inc. (Atwood Oceanics) announced that one of its subsidiaries has
been awarded a drilling services contract by Shell Offshore Inc.
for the dynamically positioned, ultra-deepwater semisubmersible
rig, the Atwood Condor. The contract has a term of 39 months from
the date the rig is assigned from Hess Corporation, which is
expected to occur in late August
2013. The drilling program will be performed in the US Gulf
of Mexico at a dayrate of approximately $555,000 per day. This contract will supersede
the remainder of the existing contract with Hess Corporation. With
the award of the contract, the firm contractual commitment for the
Atwood Condor is expected to extend to November 2016, and add approximately $502 million in revenue backlog. The Full
Research Report on Atwood Oceanics, Inc. - including full detailed
breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.wsreports.com/r/full_research_report/4540_ATW]
Hercules Offshore, Inc. Research
Report
On May 20, 2013, Hercules
Offshore, Inc. (Hercules Offshore) announced that it has entered
into an agreement for the sale of 11 inland barge rigs, including
three active rigs, eight cold stacked rigs, and related assets
(Inland Asset Package) for cash proceeds of approximately
$45 million. Closing will be
staggered based on the expiration dates of existing contracts on
the three active rigs and is subject to the completion of certain
customary closing conditions. The initial closing will include 10
of the rigs and is expected in late Q2 2013. Closing on the final
rig is expected in early Q3 2013. Further, Hercules Offshore
expects to record a non-cash impairment charge of approximately
$40 million as a result of the sale
in Q2 2013. According to John T. Rynd, Chief Executive Officer and
President of Hercules Offshore, the cash proceeds generated from
the sale can be reinvested in higher returning assets that are
strategic to the Company's growth objectives. The Full Research
Report on Hercules Offshore, Inc. - including full detailed
breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.wsreports.com/r/full_research_report/d584_HERO]
Penn West Petroleum Ltd. Research
Report
On June 4, 2013, Penn West
Petroleum Ltd. (Penn West) announced that Murray Nunns, its current President and CEO, has
informed the Company's Board of Directors of his intention to
retire from Penn West, effective July 1,
2013, after serving the Company for more than eight years.
Concurrent with his departure, Mr. Nunns will also resign from the
Company's Board of Directors. David
Roberts, former Executive Vice President and CEO of Marathon
Oil Corporation, will succeed Mr. Nunns as the new President and
CEO of Penn West, beginning June 19,
2013. The Company, under a new Board and a new CEO, plans to
focus on operating the business in a more efficient manner by
significantly reducing general and administrative expenses as well
as field operating costs. Rick George, Penn West's Chairman of the
Board said that it expects to reduce staffing level by 10% over the
next few weeks. To strengthen financial flexibility, the Board has
also approved a change to its dividend. Effective for Q3 2013, the
Company's quarterly dividend will be reduced to $0.14 per common share from Q2 2013 dividend of
$0.27 per common share. The Full
Research Report on Penn West Petroleum Ltd. - including full
detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
[http://www.wsreports.com/r/full_research_report/c3c2_PWE]
Halcon Resources Corporation Research
Report
On May 23, 2013, Halcon Resources
Corporation (Halcon Resources) provided an operational update
specific to its acreage in Northeast
Ohio and Northwest
Pennsylvania, the Company's core area in the Utica/Point
Pleasant play. The Phillips
1H in Mercer County, Pennsylvania,
tested at a peak rate of 120 barrels of condensate per day and 2.5
million cubic feet per day of 1,250 BTU natural gas; while the
Allam 1H in Venango County,
Pennsylvania, currently shut-in awaiting infrastructure,
tested at a peak rate of 6.6 million cubic feet per day of 1,210
BTU natural gas and 22 barrels of condensate per day. Further, the
Brugler 1H in Trumbull County,
Ohio started flowing the frac load back on May 13, 2013, and the Company expects to tie this
well into a sales pipeline in early July
2013. Halcon Resources continues to delineate its
Utica/Point Pleasant acreage position and expects
the process to be substantially complete by Q4 2013. The Full
Research Report on Halcon Resources Corporation - including full
detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
[http://www.wsreports.com/r/full_research_report/ef19_HK]
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