September 15, 2009 - Watch shares of Rex Energy Corporation (REXX) because they could catch a bid due to an initiation from Thomas Weisel.
Price Target - $10
Rex Energy Corporation (REXX) initiated with an Overweight at Thomas Weisel.
This is a key overweight call because Nautral Gas prices have been surging lately and a bottom could be in place. REXX has some nice acreage in the Marcellus Shale in Pennsylvania. The Marcellus Shale could one day be the largest gas field in the USA given its size.
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Showing posts with label marcellus shale. Show all posts
Showing posts with label marcellus shale. Show all posts
Tuesday, September 15, 2009
Friday, October 3, 2008
Marcellus Shale: Trans Energy TENG drills first Well
Today, Trans Energy ( TENG ) has issued a release today stating they have drillied their first Marcellus Shale well.
TENG announced today that it has begun drilling the Anderson #7H well in Wetzel County, West Virginia. The Anderson #7H will be drilled and completed horizontally in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett Shale which has grown to become a significant base of hydrocarbon reserves in Texas.
The Company plans to drill the vertical portion of the Anderson #7H well to a depth above the kick-off point and set casing. A second, larger rig will follow-on to drill the horizontal portion at a depth of approximately 7,000 feet. The company's current plan calls for keeping the rigs drilling continuously through 2009.
James K. Abcouwer, President and CEO of Trans Energy, said, "We have to-date successfully drilled four vertical Marcellus wells. Beginning a horizontal program is another significant step forward for Trans Energy to properly develop its acreage position in northern West Virginia. Our plans call for a combination of verticals and horizontals to optimize the recovery. This approach, along with the construction of our gas gathering pipelines with multiple interstate pipeline connections, is the heart of our development plan."
The company continues to expand its acreage position centered on the Wetzel, Marion, Marshall, and Doddridge Counties area, which it believes to be the heart of the most prolific Marcellus resource in Appalachia.
TENG announced today that it has begun drilling the Anderson #7H well in Wetzel County, West Virginia. The Anderson #7H will be drilled and completed horizontally in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett Shale which has grown to become a significant base of hydrocarbon reserves in Texas.
The Company plans to drill the vertical portion of the Anderson #7H well to a depth above the kick-off point and set casing. A second, larger rig will follow-on to drill the horizontal portion at a depth of approximately 7,000 feet. The company's current plan calls for keeping the rigs drilling continuously through 2009.
James K. Abcouwer, President and CEO of Trans Energy, said, "We have to-date successfully drilled four vertical Marcellus wells. Beginning a horizontal program is another significant step forward for Trans Energy to properly develop its acreage position in northern West Virginia. Our plans call for a combination of verticals and horizontals to optimize the recovery. This approach, along with the construction of our gas gathering pipelines with multiple interstate pipeline connections, is the heart of our development plan."
The company continues to expand its acreage position centered on the Wetzel, Marion, Marshall, and Doddridge Counties area, which it believes to be the heart of the most prolific Marcellus resource in Appalachia.
Friday, July 25, 2008
XTO Energy XTO - John Najarian CNBC - Shale
John Najarian has come on CNBC this morning and states that yesterday XTO has seen very active call buying and institutional buying the last couple days.
He stated the last time XTO Energy was this low....crude oil was in the $70's. He said if you want to play crude in a stock...this is the way to do it...usually it moves 2-1 higher or lower.
He also stated that XTO has been active in the Shale Plays which we already know!
XTO is active in the Following Shale Plays
Bakken Shale
Haynesville Shale
Marcellus Shale
Barnett Shale
He stated the last time XTO Energy was this low....crude oil was in the $70's. He said if you want to play crude in a stock...this is the way to do it...usually it moves 2-1 higher or lower.
He also stated that XTO has been active in the Shale Plays which we already know!
XTO is active in the Following Shale Plays
Bakken Shale
Haynesville Shale
Marcellus Shale
Barnett Shale
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