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Tuesday, November 5, 2013

For Investors Only: DNR, OKE, SD, SRE All Report Earnings Today; SD Has Great Report; Samson Oil & Gas Provides Operational Update In The Bakken; Transcripts And More

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or what you think you may have read here.

These three companies were among many that traded at new highs today: WFT (Weatherford), MSFT (Microsoft), and FSLR (First Solar).

Seven companies announced increased dividends/distributions today.

Conference calls:
Earnings:
  • DNR: net income, 28 cents; adjusted net income, 45 cents; share price rising
  • OKE: beats by 5 cents; see below
  • SD: beats by 5 cents; see below
  • SRE: "solid" -- see below
  • TRP: beats by 10 cents; misses on revenue (think Keystone)
More on OKE:
ONEOK beats by $0.05; narrows FY13 net income guidance: Reports  3Q13 adj. earnings of $0.35 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.30. 
More on SD:
SandRidge Energy beats by $0.05, beats on revs: Reports 3Q13 earnings of $0.07 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.02; revenues fell 7.4% year/year to $493.6 mln vs the $481.71 mln consensus. 
More on DNR:
CEO: Rocky Mountain operations reached a significant milestone in the third quarter with our first Rocky Mountain tertiary oil production sales. We anticipate the planned expansion of our carbon dioxide flood at Bell Creek Field to drive tertiary oil production growth from that field for many years to come. 
More on SRE:
SRE reported third-quarter 2013 earnings of $296 million, or $1.19 per diluted share, up from $268 million, or $1.09 per diluted share in the third quarter 2012.
Sempra Energy's third-quarter 2012 earnings included a charge of $60 million, or $0.24 per diluted share, related to a write-down on Sempra U.S. Gas & Power's minority stake in the Rockies Express Pipeline.  On an adjusted basis, third-quarter 2012 earnings were $328 million, or $1.33 per diluted share.
For the first nine months of 2013, Sempra Energy's earnings were $719 million, or $2.89 per diluted share, compared with $566 million, or $2.31 per diluted share, in the first nine months of 2012.
Over at Yahoo!In-Play:
Samson Oil & Gas provides operations update on its North Dakota Project: Co provides the following update: North Stockyard Project, Williams County, North Dakota

Little Creature 1-15-14H (SSN WI 27.7%):

As previously reported the 7 inch casing string was set and cemented at 11,855 feet, and the lateral portion of Little Creature 1-15-14H well has now been drilled to the planned total depth of 19,430 feet. The lateral portion was drilled wholly within the target zone in the middle Bakken Formation. Currently the well is being prepared to run the production liner.

Blackdog 3-13-14H (SSN WI 25.03%)
Following the setting of the production liner in the Little Creature well, the Frontier 24 rig will move back to the Tofte 1 pad and begin drilling operations on Blackdog 3-13-14H. This well will be a middle Bakken lateral and is expected to follow the previously planned Swan trajectory that is the infill location between the Rodney 1-14H well (SSN WI 27.18%) and the Sail and Anchor 1-13-14HBK well (SSN WI 25.03%).

Frac operations Tofte 2 pad

Following the completion of running the production liner on Little Creature, the Tofte 2 pad will be turned over to fracture stimulation operations associated with the three wells on that pad. This will include Coopers (SSN WI 27.7%), Tooheys (SSN WI 27.7%), and Little Creature (SSN WI 27.7%). Operations are currently expected to commence on November 18th and to be completed by early December.

Bluff #1-11 (SSN WI 66%)
Construction of the access road to the Bluff #1-11 well site has commenced. A concrete slab has been constructed across an existing pipeline to allow for access to the drill site. After the concrete has cured, the balance of the road and drill pad will be built. Drilling operations are expected to commence towards the end of November.

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