Are McDermott, SandRidge, and Synergy Resources Positioned For Future Success?
New York, NY – GDP INSIDER – 10/08/2014.
This article discusses three oil and gas companies: McDermott International, SandRidge Energy, and Synergy Resources.
McDermott International(NYSE:MDR) is a Houston-based oil and gas equipment and services company that has a market capitalization of $1.22 billion and 237.63 million tradeable shares. On Oct. 2nd, the company announced that it had created the world’s largest forged body specialty valve that will be sent to the INPEX-operated Ichthys LNG Project. The valves measure nine meters in length and are seven meters high, weighing over 100 tonnes. The second large valve is currently under construction.
SandRidge Energy Inc.(NYSE:SD) is an Oklahoma-based oil and gas drilling and exploration company that mainly products oil and natural gas in the mid-continent region of the United States. The company was upgraded from Hold to Buy by Stifel on Sept. 2nd, 2014. Since that time, the stock has fallen $1.18 from a Sept. 2nd mark of $5.16 to yesterday’s new closing price of $3.98. The company had a total of 4,388 gross product wells as of Dec. 31st, 2013.
On Sept. 30th, Synergy Resources Corp(NYSEMKT:SYRG) released a press release that detailed the company’s production rate, providing estimated figures for the upcoming quarter. The company reached a peak production rate of 8,700 late August, estimating that the average production in the first quarter of fiscal 2015 will range from 7,500 to 8,500 BOED per day. The company also announced that it had added a third rig to its horizontal drilling fleet and that it intends to release its results report for the fiscal year that ended Aug. 31st, 2014 on Oct. 28th, 2014.
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