NEW YORK, December 30, 2013 /PRNewswire/ --
Today, Analysts' Corner announced new research reports highlighting Hess Corporation (NYSE: HES), Marathon Petroleum Corporation (NYSE: MPC), Phillips 66 (NYSE: PSX), HollyFrontier Corporation (NYSE: HFC), and Eagle Rock Energy Partners, L.P. (NASDAQ: EROC). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Hess Corporation Research Report
On December 16, 2013, Hess Corporation (Hess) provided an update on its realized selling prices and operating data for the first two months of Q4 2013, as well as the guidance for Q4 2013. Hess reported that in the first two months of Q4 2013, its worldwide realized selling prices for crude oil averaged $98.65 per barrel, compared to $104.95 per barrel in the full Q3 2013, chiefly led by an $11.00 decrease in US crude oil price realizations, reflecting the widening in crude oil spreads between Brent and West Texas Intermediate (WTI) and Brent and Louisiana Light Sweet (LLS). Hess stated that for Q4 2013, it expects average production of 310,000 barrels of oil equivalent per day (boepd), compared to the previous guidance of 320,000 boepd. The Company added that the decrease reflects the earlier than expected close of the sale of its interest in the Natuna A Field in Indonesia, as well as higher production downtime due to maintenance activities. The Full Research Report on Hess Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Marathon Petroleum Corporation Research Report
On December 16, 2013, Marathon Petroleum Corporation (Marathon Petroleum) announced that Pamela K. M. Beall has been appointed to the position of Senior Vice President of Corporate Planning, Government and Public Affairs, effective January 1, 2014. Gary R. Heminger, President and CEO of Marathon Petroleum commented, "Pam's extensive background in finance, business development and global procurement provides a tremendous foundation for these additional responsibilities in the company." The Company added that Beall's new organization will include Business Development, Economics, Global Procurement, Federal and State Government Affairs and Public Affairs. Marathon Petroleum also informed that Timothy T. Griffith, Vice President and Treasurer will become Vice President, Finance and Investor Relations, and Treasurer. The Full Research Report on Marathon Petroleum Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Phillips 66 Research Report
On December 10, 2013, Phillips 66 announced a strategic joint development agreement with Sapphire Energy, Inc. (Sapphire Energy) with the objective of taking production of algae crude oil toward commercialization. Phillips stated that under the agreement, the companies will work together to collect and analyze data from co-processing of algae and conventional crude oil into fuels. The Company added that the goal of the joint development agreement is to complete fuel certifications to prepare Sapphire Energy's renewable crude oil, known as Green Crude, for wide-scale oil refining. Merl Lindstrom, Vice President of Technology at Phillips 66, stated, "We believe this joint development project with Sapphire Energy could produce a refinery-ready, sustainable product for Phillips 66, creating yet another exciting opportunity in this rapidly changing energy landscape." The Full Research Report on Phillips 66 - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
HollyFrontier Corporation Research Report
On December 3, 2013, HollyFrontier Corporation (HollyFrontier) announced that it expects a resolution to the previously announced refinery waste water constraints at the Company's subsidiary's Navajo Refinery by the end of January 2014. The Company stated that in the meantime, it expects crude throughput at the Navajo Refinery to be approximately 60,000 barrels per day. Further, the Company expects Q4 2013 total crude throughput to be approximately 370,000 barrels per day. HollyFrontier added that it expects first quarter total crude throughput to be negatively impacted by approximately 10,000 barrels per day due to January constraints at the Navajo refinery. The Full Research Report on HollyFrontier Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Eagle Rock Energy Partners, L.P. Research Report
On December 23, 2013, Eagle Rock Energy Partners, L.P. (Eagle Rock) announced that it has entered into a definitive agreement to contribute its midstream business to Regency Energy Partners LP (Regency) for total consideration of up to c.$1.3 billion. Eagle Rock expects the transaction to close in the first half of 2014. Eagle Rock added that it intends to use the cash proceeds from the transaction for payment of borrowings under its revolving credit facility. Joseph A. Mills, Eagle Rock's Chairman and CEO, commented, "This transaction is consistent with our stated goals of simplifying our structure and reducing our debt balances. We are excited to announce this transformative transaction for Eagle Rock, which unlocks the value of our midstream business and positions the Partnership for future growth as a pure-play upstream MLP." The Full Research Report on Eagle Rock Energy Partners, L.P. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
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