4 Energy Stock Stories To Kick Off a New Trading Month

Halliburton Co. (NYSE:HAL): Closing price $48.30

Trinidad Drilling Ltd. announced Tuesday that it has reached a joint venture accord with a wholly-owned subsidiary of Halliburton Co through which to supply and operate drilling rigs for the latter’s international integrated projects. The joint venture should center initially on the Kingdom of Saudi Arabia and Mexico, with future growth opportunities in other global markets. Through the terms, the joint venture will have an option of first look to provide drilling rigs for all of Halliburton’s managed onshore projects other than Canada and the United States. Further, the joint venture will have a right of first look at Trinidad’s onshore contract drilling opportunities as well.

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Kinder Morgan Energy Partners L.P. (NYSE: KMP): Closing price $81.51

It was announced that construction of the approximate 141-mile, 16-inch diameter Parkway Pipeline, which is a 50-50 joint venture between Kinder Morgan and Valero Energy Corp. is finished and the pipeline is now carrying refined petroleum products from refineries in Norco, Louisiana, to an existing petroleum transportation hub in Collins, Mississippi, which is owned by Plantation Pipe Line Company. From this hub, the products will be moved by multiple pipeline systems, including Plantation, that serve major markets in the eastern United States. The $250 million pipeline system possesses an initial capacity of 110,000 barrels per day with the ability to expand to over 200,000 bpd.

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PVR Partners L.P. (NYSE: PVR): Closing price $23.22

On Tuesday, PVR  announced that it has reached a definitive agreement with Hess Corporation through which to construct, own, and operate a 45-mile natural gas trunkline and associated gathering pipelines and facilities that service Hess’s lean gas production in the Utica Shale in eastern Ohio. PVR expects that the aggregate capital investment for the trunkline, initial gathering lines, compression stations, and dehydration facilities to be between $125 and $150 million, and expects to invest roughly $10 million during the remainder of this year, and some $50 million during the first half of 2014 and $50 during the second half of 2014, with the remainder in 2015.

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Hercules Offshore Inc. (NASDAQ:HERO): Closing price $7.27

Hercules Offshore has signed a contract with Cairn India Ltd., for the use of the Hercules Triumph (formerly Discovery Triumph) in the Indian Ocean. Total contract value is some $36.6 million, which includes about $13 million of mobilization and demobilization fees, to be earned during an estimated 110 days. Contract commencement is anticipated in late October.

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