The Sandridges Analyzed, Halliburton Partners with Dialog: Energy Biz Wrap
Some Oppenheimer analysts are recommending the current weakness in SandRidge Permian Trust (NYSE: PER) as a buying opportunity, on their confidence in Permian assets, while at the same time they are less secure with SandRidge Mississippian Trust (NYSE: SDT). Analyst Daniel Katzenberg commented that “The SandRidge Royalty Trusts have been the worst performers under our coverage, as they have had not only the same tax concerns, but also multiple issues at the parent-company level including an activist investor calling for the ouster of Chief Executive Tom Ward.” Katzenberg added that “Although we think this is unlikely, the uncertainly creates unwanted headline risk. Additionally, SandRidge Energy (NYSE: SD) announced plans to divest its Permian acreage, which although it would not impact SandRidge Permian, does create additional questions.”
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Malaysia’s Dialog Group reaches an agreement with Halliburton International (NYSE:HAL) for a $1.2 billion contract which is targeted at pushing oil production from a mature field in East Malaysia, by increasing recoverable reserves in the Bayan Field, lying offshore Sarawak. A spokesperson for Dialog said to the Malaysian stock exchange that, “This is in line with Dialog’s strategy to continue developing its upstream capabilities, which include the rejuvenation and re-development of mature oil fields.”
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