NEW YORK, January 8, 2015 /PRNewswire/ --
Moments ago, Analysts Review released new research updates concerning several important developing situations including Patterson-UTI Energy (NASDAQ: PTEN), PDC Energy (NASDAQ: PDCE), Plug Power (NASDAQ: PLUG), PostRock Energy (NASDAQ: PSTR), and Power Solutions International (NASDAQ: PSIX). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
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Today's update concerns the following companies:
Full PDF Download Links (you may have to copy and paste the following links into your browser):
PTEN Research Report: ( http://get.analystsreview.com/pdf/?c=Patterson-UTI%20Energy&d=08-Jan-2015&s=PTEN ),
PDCEResearch Report: ( http://get.analystsreview.com/pdf/?c=PDC%20Energy&d=08-Jan-2015&s=PDCE ),
PLUGResearch Report: ( http://get.analystsreview.com/pdf/?c=Plug%20Power&d=08-Jan-2015&s=PLUG ),
PSTR Research Report: ( http://get.analystsreview.com/pdf/?c=PostRock%20Energy&d=08-Jan-2015&s=PSTR ),
PSIX Research Report: ( http://get.analystsreview.com/pdf/?c=Power%20Solutions%20International&d=08-Jan-2015&s=PSIX ).
Analyst Update: Monthly Drilling Rigs Update, Capex Budget, Recognitions, Financial Results and Joint Ventures
Reviewed by: Rohit Tuli, CFA®
The Wall Street finally witnessed a rebound on Wednesday, January 7, as slight recovery in the oil prices coupled with latest data on the U.S. economy boosted sentiments in equities. The latest FOMC meeting minutes, which signaled that the U.S. central bank may refrain from raising interest rates until at least end of April, also helped U.S. stocks rally the most in three weeks on Wednesday. Snapping the five-day long losing streak, the S&P 500 index marked its first gain in 2015 and ended the session higher by 1.16% at 2,025.90. Similarly, the Dow Jones Industrial Average rose 1.23% to finish at 17,584.52, and the NASDAQ Composite ended higher by 1.26% at 4,650.47. A recent report on the health of the U.S. economy said that companies in the U.S. added 241,000 workers in December, the highest since June. European markets also had a sigh of relief on Wednesday after a drop in euro area consumer prices in December lifted hopes that ECB will launch further stimulus soon. Most Asian markets also ended higher on Wednesday tracking strong global cues.
In a monthly drilling rigs update, Patterson-UTI Energy, Inc. (Patterson-UTI Energy) reported that in November 2014, it had an average of 209 drilling rigs operating in the United States and 10 rigs in Canada. For the two months ended November 30, 2014, the Company had an average of 210 drilling rigs operating in the United States and 10 rigs in Canada.
PDC Energy, Inc. (PDC Energy) announced that its capital budget for 2015 is approximately $557 million, which includes $526 million of development capital and $31 million for lease maintenance, exploration and other expenditures. The 2015 capital budget is focused on organic growth opportunities in the Company's Inner and Middle core areas of the Wattenberg Field.
Plug Power Inc. (Plug Power) has been named to the list of 2014 Food Logistics FL100+, which profiles advanced technology and software providers, influencing the global food and beverage supply chains.
PostRock Energy Corporation (PostRock Energy) posted net income for Q3 2014 of $6.0 million as compared to a loss of $0.64 million in Q3 2013. Q3 2014 oil production in Central Oklahoma increased over three-fold from the previous year volumes and averaged 700 net barrels per day, mainly attributable to a series of successful workovers early in the year and the two horizontal Searight wells.
Power Solutions International, Inc. (Power Solutions International) launched an equally owned joint venture, Doosan PSI, LLC., with Doosan Infracore Co., Ltd in order to leverage the strengths of both the companies to design, develop, produce, market and distribute industrial gas power systems to the global market.
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