Global Energy Stocks to Watch: Company Issues Plans to Commence Drilling at Metallurgical Coal Projects
CORAL SPRINGS, Florida, February 28, 2013 /PRNewswire/ --
FinancialNewsMedia.com reports on Active Energy/Mining Companies to watch today: New Colombia Resources, Inc., PDC Energy, Inc. (NASDAQ: PDCE), Tesoro Petroleum Corp. (NYSE:TSO), Peabody Energy Corp. (NYSE: BTU) Halliburton Co. (NYSE: HAL) and Cliffs Natural Resources Inc. (NYSE: CLF)
New Colombia Resources, Inc. issued major news today regarding its coal mining projects in Colombia. To read the entire press release go to http://finance.yahoo.com/q?s=NEWC&ql=1. New Colombia Resources Plans to Commence Drilling at their Metallurgical Coal Property. The Company is taking the steps necessary to complete a NI-43.101 Technical Study on both their wholly owned "La Tabaquera" metallurgical coal mine and the soon to be wholly owned "La Herradura" coal mine. NEWC entered into a letter of intent with the legitimate owner of "La Herradura" last year which it intends to close within the next quarter. To see the latest news and charts for New Colombia, please go to http://www.marketwatch.com/investing/stock/NEWC. According to engineering reports, "La Tabaquera" has 15-17 MM metric tons of mostly premium metallurgical coal. The neighboring "La Herradura" is expected to have 6 times that since it's that much bigger with the same coal seams. New Colombia Resources received a proposal from the world's leading inspection, verification, testing, and Certification Company to develop a drill program to complete an NI 43-101 Technical Study. Once New Colombia has the drill program, they will commence drilling accordingly. "We're very excited to begin drilling and updating shareholders as each hole is drilled, stated John Campo, President of New Colombia Resources, Inc. "The NI 43-101 is a tool used to measure reserves by investors around the World, this will prove our reserves and allow us to get favorable financing to begin production," further commented Mr. Campo.
To read all the latest headlines New Colombia Resources, Inc., go to http://finance.yahoo.com/q/h?s=NEWC+Headlines
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PDC Energy, Inc. (NASDAQ: PDCE) reported its 2012 fourth quarter and year-end financial and operating results. In mid-February 2013, the Company flow tested its second horizontal Utica Shale well in Guernsey County, Ohio. The Detweiler 42-3H well tested through tubing at a peak rate of 2,197 barrels of oil equivalent ("Boe") per day on a 20/64" choke with an average rate of 2,039 Boe per day for 24 consecutive hours. The Detweiler 42-3H well flow test was conducted following a 60-day resting period. Based upon composition analysis, the gas being produced is 1,263 BTU rich gas. Assuming full ethane recovery with a natural gas shrink of 21%, the composition mix of the production is 49% condensate, 26% NGLs and 25% residue gas. The well was drilled to a lateral length of 3,868 feet and completed with 13 frac stages. The Company is currently drilling a three-well pad in Guernsey County, which will be followed by two horizontal wells in Washington County, Ohio. To read the entire release and get full details, go to http://finance.yahoo.com/news/pdc-energy-announces-2012-fourth-133000463.html
Tesoro Petroleum Corp. (NYSE:TSO) reached a new 52-week high yesterday closing at $55.55 per share after reaching intra-day high of $56 on over 3.9Million shares traded. Average volume for TSO has been 3.374 million shares over the past 30 days. Tesoro has a market cap of $7.26 billion and is in the basic materials sector and energy industry. Shares are up 19.9% year to date as of the close of trading on Tuesday. Tesoro Corporation, together with its subsidiaries, engages in refining and marketing petroleum products in the United States. It operates in two segments, Refining and Retail.
Peabody Energy Corp. (NYSE: BTU) closed yesterday at $21.78 per share on over 6.3Million shares traded by the close. Peabody Energy currently has coal operations in Australia, which it acquired in 2011, and its U.S. based operations in the Illinois and Southern Powder River basins are strategically positioned for exporting to these Asian growth markets. There are few major mining companies that have better access to the growth in demand for coal in Asia than Peabody. Its deal with Kinder Morgan Energy Partners (NYSE: KMP) to export coal out of its Houston, Texas and Myrtle Grove, La., terminals is just one more option for this company to access the international marketplace.
Halliburton Co. (NYSE: HAL) closed up yesterday at $41.27 per share on over 9.17Million shares traded by the close. Halliburton provides a range of services and products for the exploration, development, and production of oil and natural gas. The company operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services, including stimulation services and sand control services; and cementing services comprising bonding the well and well casing, and casing equipment. It also offers completion tools that provide downhole solutions and services, including well completion products and services, intelligent well completions, liner hanger systems, sand control systems, and service tools.
Cliffs Natural Resources Inc. (NYSE: CLF) closed up slightly at $25.91 per share on over 7.8Million shares traded by the close. Cliffs Natural Resources is a mining and natural resources company, engages in the production of iron ore pellets, fines and lump ore, and metallurgical coal. It operates five iron ore mines located in Michigan and Minnesota; five metallurgical coal mines located in West Virginia and Alabama; and one thermal coal mine located in West Virginia. The company also operates two iron ore mines in eastern Canada that primarily provide iron ore to steel producers in Asia; and two iron ore mining complexes in Western Australia.
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