4 Energy Stock Stories To Fuel the New Trading Week

Chesapeake Energy Corporation (NYSE:CHK): Current price $19.08

Chesapeake owns a Wyoming oil well that blew out in April 2102 and forced 50 people to leave their homes, but the corporation has not been fined in the year after the accident because the Wyoming Oil and Gas Conservation Commission determined that none of its rules were violated. A group of landowners and at least one affected couple were troubled by the inaction against Chesapeake, even though the commission said that human error contributed to the complete loss of control over the well last April 24, five miles northeast of Douglas. Wyoming interim Oil and Gas Supervisor Bob King remarked that the commission imposes penalties for rule violations, but not when people dislike something that happens.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

CHK

Duke Energy Corporation (NYSE:DUK): Current price $72.87

On Friday, the North Carolina Supreme Court struck down a 7.2 percent increase on electric rates that the state Utilities Commission had awarded to Duke in 2012. The court ordered the Utilities Commission to reopen the rate case and examine the impact on consumers so as to determine an appropriate rate. Attorney General Roy Cooper commented that ”This is great news for consumers who spoke loudly and clearly on how hard this rate increase would hit their wallets, In a time of economic hardship, the effect on customers must be taken into consideration, not just profits. We’re glad the court agreed and hope rates will be set fairly.”

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

DUK

Petrobras – Petroleo Brasileiro (NYSE:PBR): Current price $15.75

The company’s worst debt position in a decade is increasing the chances that Petrobras will step aside and alllow Exxon Mobil Corp. (NYSE:XOM) and Royal Dutch Shell (NYSE:RDS-A) to buy offshore exploration licenses in Latin America’s biggest auction of 2012. So far, Exxon has been the most active in requesting data regarding the acreage Brazil is offering in May to take advantage of government-run Petrobras holding back its full participation, according to a state official with knowledge of the sale. When Petrobras boosted investment in deepwater finds in past years, it became the most indebted publicly-traded oil company on earth, with $96 billion borrowed, or four times the level of 2008 compared with earnings before interest, tax, depreciation and amortization.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

PBR

Enbridge (NYSE:ENB): Current price $45.07

Canada’s National Energy Board, ruled that the firm must reserve almost $1-billion in liability coverage, pay for oil spill research, and implement a far-ranging but voluntary spill-response and tanker safety plan if it constructs the controversial Northern Gateway pipeline. The board released a list of preliminary conditions for the $6-billion pipeline, which would transport 525,000 barrels of crude per day to a new marine terminal at Kitimat from Edmonton. The regulator said that the conditions create a “standard step in the review process that is mandated by the courts,” but do not necessarily indicate approval of the line, with a ruling on the pipeline’s fate is expected by the end of 2013.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

ENB

Don’t Miss: Exxon’s CEO Rakes in the Cash Money.

More from The Cheat Sheet