The Zacks Analyst Blog Highlights: Noble Energy, W&T Offshore, Whiting Petroleum, Range Resources and Matador Resources

Sep 13, 2013, 09:30 ET from Zacks Investment Research, Inc.

CHICAGO, Sept. 13, 2013 /PRNewswire/ -- announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Noble Energy Inc. (NYSE: NBL-Free Report), W&T Offshore Inc. (NYSE: WTI-Free Report), Whiting Petroleum Corp. (NYSE: WLL-Free Report), Range Resources Corp. (NYSE: RRC-Free Report) and Matador Resources Co. (NYSE: MTDR-Free Report).


Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Thursday's Analyst Blog:

Noble Strikes Oil in GoM Again

Noble Energy Inc. (NYSE: NBL-Free Report) announced a discovery at its Troubadour exploration block in the deepwater Gulf of Mexico. Gross discovered resources in the area are currently estimated in the range of 50 to 100 million barrels of oil equivalent (MMboe).

The well located in 7,273 feet of water in the Mississippi Canyon Block 699 was drilled to a total depth of 19,510 feet. Reservoir and fluid measurements logs recognized a net natural gas pay of 50 feet in a rich Miocene reservoir. Almost 75% of the resource volumes comprised oil.

Noble Energy anticipates approval for this project by late 2013 with first production likely to begin by late 2015. The company owns a majority interest (54%) in the Big Bend as well as in the Troubadour (60%) prospect. Other Big Bend stake holders include Red Willow Offshore, LLC (15.4 %), Houston Energy Deepwater Ventures V, LLC (10.6%) and W&T Energy VI, LLC, a wholly owned subsidiary of W&T Offshore Inc. (NYSE: WTI-Free Report) (20%).  W&T Energy VI, LLC and Deep Gulf Energy II, LLC each carries a 20% share in Troubadour.

Estimated results by Noble Energy indicate a higher oil recovery in the Rio Grande complex. The company is progressing on its plans of creating subsea tiebacks to an existing host facility. Troubadour follows closely on the heels of the successful Big Bend discovery.   

However, Noble Energy for the moment has temporarily stalled development of the latest Troubadour well and intends to focus on the expansion of the Dantzler prospect on Mississippi Canyon 738/782.

The company will shift the rig to the Dantzler prospect, where Noble Energy has a 65% participating interest. The company expects exploration results from this well by late 2013 and is aiming to achieve a gross resource range of 50-220 MMboe.

The Gulf of Mexico is a prime operational center for Noble Energy and has an impressive exploration track record. The addition of evolving plays like the Big Bend and Troubadour will further augment growth opportunities, enriching the company's reserve basket.

Compared to declines in 2012, global oil consumption in 2013 and 2014 is forecast to increase fractionally by 0.7% and 0.2%, respectively, as per the Energy Information Administration, driven primarily by China.

Good things might also be in store for Noble Energy with Myanmar's announcement of natural gas imports from 2014. However, oil and gas prices would continue to be volatile in spite of record production from Saudi Arabia.

Noble Energy currently has a Zacks Rank #3 (Hold). Other well-placed operators include Zacks Ranked #1 (Strong Buy) Whiting Petroleum Corp. (NYSE: WLL-Free Report), Range Resources Corp. (NYSE: RRC-Free Report) and Matador Resources Co. (NYSE: MTDR-Free Report).

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.

About Zacks is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.

Get the full Report on NBL - FREE

Get the full Report on WTI - FREE

Get the full Report on WLL - FREE

Get the full Report on RRC - FREE

Get the full Report on MTDR - FREE

Follow us on Twitter:

Join us on Facebook:

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release.

SOURCE Zacks Investment Research, Inc.