3 Energy Stock Stories Ready For Weekend Entertainment

Chesapeake Energy Corp. (NYSE:CHK): Closing price $25.00

He’s baaaaack! The founder and former Chief Executive Aubrey McClendon, since being sacked as Chesapeake’s CEO in April, has created his own company, American Energy Partners LP, and is said to have raised a stake of $1 billion with which to go on shopping spree for new properties. A report by Upstream Online claims that McClendon’s new firm has put in the top bid for 50,000 acres in the Utica shale play in Ohio that Royal Dutch Shell is divesting. The acreage is fragmented and is also reportedly a part of a still unproven oil play in the region. Others believe that McClendon has purchased 22,500 acres from Enervest and its affiliate EV Energy Partners L.P. for over $280 million.

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TransCanada Corp. (NYSE:TRP): Closing price $44.99

The Interior Department says that building the Keystone XL pipeline would lead to more man-made light and noise in sparsely populated regions, which could harm natural resources, wildlife and visitors to national parks. Through its comments submitted to the State Department as part of an environmental review, Interior warned that the developer is not sufficiently addressing risks to “cultural soundscapes” and “high quality night skies” from disturbances during the building, and from pumping stations that keep oil flowing through the pipe. Director, Office of Environmental Policy Willie R. Taylor observed that “The cumulative effects of the project could adversely impact the quality of the night skies and the overall photic environment,” in a letter written on April 29. The State Department posted the letter on its website this week, as it releases some 1.2 million comments received in regards to the project.

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ConocoPhillips (NYSE:COP): Closing price $67.38

On Friday, Conoco said that it has closed a transaction with the National Gas Company of Trinidad and Tobago Limited for the divestiture of its wholly-owned subsidiary, Trinidad and Tobago Holdings LLC, for a total amount of $600 million plus customary adjustments. Trinidad and Tobago Holdings LLC holds a 39-percent stake in Phoenix Park Gas Processors Limited, which operates a gas processing and natural gas liquids fractionation facility at Point Lisas, Trinidad. ConocoPhillips expects to recognize an after-tax gain of roughly $290 million for the sale.

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Don’t Miss: This Settlement Lawyer Thinks BP’s Arguing Will Backfire.

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