Enbridge Inc. (NYSE:ENB): Closing price $43.57
Canadian firm Enbridge Inc. has applied to construct an oil pipeline from western North Dakota’s oil patch and will soon start courting oil producers to reserve space, a key move in a $2.6 billion project that will carry millions of gallons of oil to Minnesota and Wisconsin. Enbridge Energy proposed the 612-mile Sandpiper pipeline to transport 225,000 barrels of oil daily to a hub in northern Minnesota and 375,000 barrels to one in northwestern Wisconsin. Upon approval, it would be the largest pipeline moving oil out of North Dakota.
Superior Energy Services Inc. (NYSE: SPN): Closing price $27.77
Deutsche Bank on Tuesday upgraded Superior Energy shares with a Buy and a price target of $33. Analyst Jason Bandel wrote: “SPN is a uniquely positioned mid cap company with the scale and product breadth necessary to compete with the large diversifieds in international market. Its product mix drives high, through-cycle margins relative to peers, while its strong presence in US Land will allow the company to respond to activity increases. Its experienced management team has positioned SPN to benefit from strong secular growth trends and provide services across the full lifecycle of the well, both onshore and offshore.”
Anadarko Petroleum Corp. (NYSE:APC): Closing price $29.89
Anadarko said Tuesday that it plans to accelerate investments in domestic shale plays, aiming at the Eagle Ford and Wattenberg basins as particularly profitable. The corporation will fund significant investments in the two plays with funds from a recent $2.6 billion divestiture in Mozambique as it unifies its shale positions. Anadarko has also ramped up its operations in the Permian-Delaware basin, having finished its first six Wolfcamp wells in Ward and Loving counties in west Texas.
ENI S.p.A. (NYSE:E): Closing price $49.40
Quicksilver Resources Inc. said it reached an agreement with Eni through which they will jointly evaluate, explore, and develop roughly 52,500 gross acres in the Delaware Basin currently held by Quicksilver in the Leon Valley area in Pecos County, Texas. Eni will pay as much as $52 million representing 100 percent of drilling, completion, and seismic costs to earn a 50 percent holding in Quicksilver’s Pecos County acreage.