The throughput at the new hydrocracker unit is rated at 60,000 barrels per day. A similar hydrocracker was set up by Valero at its Port Arthur refinery in Dec 2012.
The hydrocrackers were intended to take advantage of high crude oil and low natural gas prices. The unit was mainly designed to produce diesel to meet escalating demand in both domestic and export markets. The construction cost for each unit was about $1.6 billion.
Valero�� projects are aimed at increasing throughput capacity at each of its new hydrocrackers to 75,000 barrels per day. The expansion projects are anticipated to be complete in 2015, subject to necessary permissions.
Moreover, Valero is working on increasing the capacity of the existing hydrocracker at its Meraux refinery by 20,000 barrel per day, which is scheduled for completion by the end of 2014.
Top 5 Managed Healthcare Stocks To Own For 2015: Noble Corp (NE)
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (FPSO) located globally. As of December 31, 2011, its fleet consisted of 14 semisubmersibles, 14 drillships, 49 jackups and two submersibles. Its fleet includes 11 units under construction, which include five ultra-deepwater drillships, and six jackup rigs. As of February 15, 2012, approximately 84% of its fleet was located outside the United States in areas, which included Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India and the Asian Pacific. During the year ended December 31, 2011, it completed construction on the Noble Bully I, a drillship, owned through a joint venture with a subsidiary of Royal Dutch Shell plc; completed construction on the Noble Bully II, a drillship, and it completed construction of Globetrotter-class drillship. As of February 15, 2012, it had 10 rigs under contract in Mexico with Pemex Exploracion y Produccion (Pemex).
During 2011, the Company conducted offshore contract drilling operations, which accounted for over 98% of its operating revenues. It conducts its contract drilling operations in the United States Gulf of Mexico, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India and the Asian Pacific. During 2011, revenues from Shell and its affiliates accounted for approximately 24% of its total operating revenues. During 2011, revenues from Petroleo Brasileiro S.A. (Petrobras) accounted for approximately 18% and 19% of its total operating revenues. Revenues from Pemex accounted for approximately 15%, 20% and 23% of its total operating revenues.
Semisubmersibles are floating platforms which, by means of a water ballasting system, can be submerged to a predetermined depth so that a substantial portion of the hull is b! elow the water surface during drilling operations. As of December 31, 2011, the semisubmersible fleet consisted of 14 units, including five Noble EVA-4000 semisubmersibles; three Friede & Goldman 9500 Enhanced Pacesetter semisubmersibles; two Pentagone 85 semisubmersibles; two Bingo 9000 design unit submersibles; one Aker H-3 Twin Hull S1289 Column semisubmersible, and one Offshore Co. SCP III Mark 2 semisubmersible.
The Company�� drillships are self-propelled vessels. These units maintain their position over the well through the use of either a fixed mooring system or a computer controlled dynamic positioning system. Its drillships are capable of drilling in water depths from 1,000 to 12,000 feet. The maximum drilling depth of its drillships ranges from 20,000 feet to 40,000 feet. As of December 31, 2011, the drillship fleet consisted of 14 units, including four drillships under construction with Hyundai Heavy Industries Co. Ltd. (HHI); three Gusto Engineering Pelican Class drillships; two Bully-class drillships to be operated by it through a 50% joint venture with a subsidiary of Shell; one dynamically positioned Globetrotter-class drillship that left the shipyard during the fourth quarter of 2011; one Globetrotter-class drillship under construction; one moored Sonat Discoverer Class drillship capable of drilling in Arctic environments; one NAM Nedlloyd-C drillship, and one moored conversion class drillship.
As of December 31, 2011, the Company had 49 jackups in its fleet, including six jackups under construction. The rig hull includes the drilling rig, jacking system, crew quarters, loading and unloading facilities, storage areas for bulk and liquid materials, helicopter landing deck and other related equipment. All of its jackups are independent leg and cantilevered. Its jackups are capable of drilling to a maximum depth of 30,000 feet in water depths up to 400 feet.
The Company has two su! bmersible! s in the fleet, which are cold-stacked. Submersibles are mobile drilling platforms, which are towed to the drill site and submerged to drilling position by flooding the lower hull until it rests on the sea floor, with the upper deck above the water surface. Its submersibles are capable of drilling to a depth of 25,000 feet in water depths up to 70 feet.Advisors' Opinion:
- [By Ben Levisohn]
The past six months have been unkind to offshore drillers like Noble (NE), Ensco (ESV), Rowan (RDC) and Transocean (RIG). That doesn’t mean it’s time to buy, however.Reuters
Sure, Transocean has fallen a whopping 74% during the past six months, while Ensco has declined 49%, Noble has dropped 46% and Rowan is off 25%. Unfortunately, offshore drillers in general have the appearance of good, old-fashioned value traps. Societe Generale’s Edward Muztafago explains:
We are concerned that another leg down in dayrates remains, and that the lower spending outlook for 2015 will have more tangible ramifications for the shorter cycle jack-up market. We have lowered our dayrate assumptions for both floaters and jack-ups further. We are sticking to our outlook for depressed offshore driller multiples, as we do not believe sufficient drivers for multiple expansion will occur in 2015. We expect offshore drilling stocks to largely be value traps in 2015, and the recent rally may be driven by short covering that has caused shares of some offshore drillers to become overvalued…
We maintain our Hold on Rowan and Noble. We believe the companies are among the higher quality names in the subsector. Sufficient staying power exists for both to survive the oil services malaise that the industry is faced with. However, no driller will be immune from deteriorating fundamentals, and we expect the fundamental outlook to largely be in the driver�� seat over the next 12 months.
As always, there is an exception to the rule, and in this case that exception is Ensco (ESV), which got upgraded to Buy from Hold by Muztafago. He explains why:
We struggle a bit with the Street�� treatment of Ensco shares. The stock has been hit hardest among shares in the subsector. However, even with our reduced dayrate assumptions, including those for jack-ups, Ensco still appears to be in the best financial shape. The company should be able to meet
Best Energy Companies To Buy Right Now: Western Gas Equity Partners LP (WGP)
Western Gas Equity Partners, LP, incorporated on September 11, 2007, was formed to own three types of partnership interests in Western Gas Partners, LP (WES). WES is a limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. As of December 31, 2011, the Company had no independent operations. On January 13, 2012, WES acquired 100% interest of Mountain Gas Resources LLC (MGR). On August 1, 2012, WES acquired 24% interest of Chipeta Processing LLC (Chipeta).
WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko, as well as third-party producers and customers. The assets of WGP, through its partnership interests in WES, include thirteen gathering systems, seven natural gas treating facilities, ten natural gas processing facilities, two NGL pipelines, one interstate gas pipeline, one intrastate gas pipeline, and three separate interests in Fort Union, White Cliffs Pipeline, LLC (White Cliffs) and Rendezvous Gas Services, LLC (Rendezvous). These assets are located in East and West Texas, the Rocky Mountains (Colorado, Utah and Wyoming), and the Mid-Continent (Kansas and Oklahoma). WES also has facilities under construction in South Texas and northeast Colorado. During the year ended December 31, 2011, WES completed the construction of a cryogenic processing train at its Chipeta facility , which had a designed capacity of approximately 300 million cubic feet of natural gas per day and was placed into service in October 2012.Advisors' Opinion:
- [By Jonas Elmerraji]
The exact same setup is potentially giving traders a reason to jump into shares of $8.5 billion midstream gas company Western Gas Equity Partners (WGP). Just like Flotek, WGP is forming a textbook channel up. And this week, Western Gas is testing trendline support.
It's a little too early to call WGP's trendline buyable here. At some point, all trends eventually fail -- and when this one does, you don't want to be left holding the bag. A bounce this week will be a good indication that WGP can still catch a bid at this price level. When and if that happens, I'd recommend keeping a tight protective stop in place just below WGP's most recent swing low at $38.
While the 50-day moving average has been crossing paths with WGP quite a bit in the last month, I'd recommend ignoring it. The average hasn't acted as a meaningful support or resistance level to date. In the case of this particular name, it's just not technically relevant.
Best Energy Companies To Buy Right Now: VAALCO Energy Inc (EGY)
VAALCO Energy, Inc. (VAALCO), incorporated in 1985, is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas. VAALCO owns producing properties and conducts exploration activities as operator in Gabon, West Africa, conducts exploration activities as an operator in Angola, West Africa, and has conducted exploration activities as a non-operator in the British North Sea. The Company owns minor interests in production activities as a non-operator in the United States. During the year ended December 31, 2011, the Etame, Avouma, South Tchibala and Ebouri fields produced approximately 8.1 million barrels of oil (2.3 million barrels of oil net to the Company).
The Company�� primary source of revenue is from the Etame Production Sharing Contract related to the Etame Marin block located offshore the Republic of Gabon. VAALCO operates the Etame Marin block on behalf of a consortium of companies. As of December 31, 2010, VAALCO owned a 30.35% interest in the exploration acreage within the Etame Marin block. The Company owns a 28.1% interest in the development areas surrounding the Etame, Avouma, South Tchibala and Ebouri fields, each of which is located on the Etame Marin block. The Company produces from the Etame, Avouma, South Tchibala and Ebouri fields on the block.
The Mutamba Iroru block is ocated onshore near the coast in central Gabon. The Mutamba Iroru block contains an exploration area of approximately 270,000 acres.
The Company has 40% working interest in Offshore Angola. The four year primary term with an optional three year extension awards the Company exploration rights to 1.4 million acres offshore central Angola.
In July 2011, the Company acquired a 480 acre lease in the Granite Wash formation in North Texas. In November 2011, the Company commen! ced drilling a second well on the initial Granite Wash formation lease.
In May 2011, the Company acquired a 70% working interest in approximately 5,200 acres (3,640 net acres) in Sheridan County, Montana in the Middle Bakken formation. In September 2011, it acquired a 65% working interest in approximately 22,000 gross acres covering the Middle Bakken and deeper formations in the East Poplar unit and the Northwest Poplar field in Roosevelt County, Montana.
The Company has minor interests in Brazos County, Texas producing from the Buda/Georgetown formations. The Company also owns certain minor non-operated interests in the Ship Shoal area of the Gulf of Mexico and in Pickens County, Alabama.Advisors' Opinion:
- [By Nitish]
VAALCO Energy, Inc. (EGY) last month reported net income of $24.7 million or $0.43 per diluted share for the second quarter of 2014 compared to net income of $7.1 million or $0.12 per diluted share for the comparable period in 2013. Second quarter 2014 revenues were $52.1 million compared to$29.1 million in the second quarter of 2013, primarily due to the higher volumes of crude liftings in the second quarter of 2014 as compared to the second quarter of 2013.
Best Energy Companies To Buy Right Now: Ameresco Inc (AMRC)
Ameresco, Inc. incorporated in April 2000, is a provider of energy efficiency solutions for facilities throughout North America. The Company�� services include upgrades to a facility's energy infrastructure and the construction and operation of small-scale renewable energy plants. Its principal service is the development, design, engineering and installation of projects that reduce the energy and operations and maintenance (O&M) costs of its customers' facilities. These projects include a variety of measures customized for the facility and designed to improve the efficiency of major building systems, such as heating, ventilation, air conditioning and lighting systems. It also serves certain customers by developing and building small-scale renewable energy plants located at or close to a customer's site. Ameresco, Inc. provides its services primarily to governmental, educational, utility, healthcare and other institutional, commercial and industrial entities. The Company operates in four segments: U.S. federal, central U.S. region, other U.S. regions and Canada. In August 2011, the Company acquired APS Energy Services Company, Inc. from Pinnacle West Capital Corporation. In December 2011, it acquired the xChange Point and energy projects businesses, including automated demand response, of Energy and Power Solutions, Inc. In August 2012, the Company acquired FAME Facility Software Solutions Inc. In February 2013, it purchased all of the assets of Ennovate Corporation. In June 2013, Ameresco Inc acquired ESP, an energy management consulting company consisting of the Energy Services Partnership and ESP Response, located in Castleford, United Kingdom.
Ameresco, Inc. offers a set of services that includes the design and installation of upgrades to a facility�� energy infrastructure, the design and construction of renewable energy plants, the sale of other renewable energy products and the arranging of financing for customer projects. In September 2010, the Company acquired Quantum Engineer! ing and Development, Inc. In July 2011, the Company acquired Applied Energy Group.
Energy Efficiency Services
The Company�� services includes the design, engineering and installation of, and the arranging of financing for, equipment to improve the efficiency, and control the operation, of a building�� heating, ventilation, cooling and lighting systems. In certain projects, it also designs and constructs a central plant or cogeneration system providing power, heat and/or cooling to a building. Its projects generally range in size and scope from a one-month project to design and retrofit a lighting system to a more complex 30-month project to design and install a central plant or cogeneration system.
Renewable Energy Projects and Products
The Company�� services offering includes the development, construction and operation of, and the arrangement of financing for, small-scale renewable energy plants, as well as the sale and integration of solar energy products and systems. It has constructed and is designing and constructing a range of renewable energy plants using landfill gas (LFG), wastewater treatment biogas, solar, wind, biomass, food waste, animal waste and hydro sources of energy. As part of its renewable energy offering, it also distributes and integrates solar energy products manufactured by several vendors. Ameresco, Inc. is a distributor of photovoltaic (PV) panels, solar regulators, solar charge controllers, inverters, solar powered lighting systems, solar powered water pumps, solar panel mounting hardware and other system components. It also integrates its PV products and system components into solar solutions designed specifically for customers. It provides solar energy solutions for both on- grid applications where the solar power is used in a building connected to a utility distribution system, and for off-grid applications where the power is used directly in the device using the electricity, such as traffic signs.
Amere! sco, Inc.! also designs and constructs renewable energy plants based on wind power. In many parts of the country, available wind resources, utility net metering and local incentives can make on-site wind generation a viable solution for meeting a portion of customers' energy needs. As of December 31, 2010, the Company had completed two projects that included a wind turbine. In addition, it has constructed and was constructing, small-scale renewable energy plants based on biomass.
As of December 31, 2010, Ameresco, Inc. had constructed more than 28 renewable energy projects, and owned and operated 22 small-scale renewable energy plants. Of the owned plants, 19 are renewable LFG plants, two are waste water biogas plants and one is a solar PV installation. These 22 small-scale renewable energy plants have the capacity to generate electricity or deliver LFG producing an aggregate of 106 megawatts (MW) or megawatt-equivalents (MWE). As of December 31, 2010, the Company had signed contracts for the construction, operation and ownership of an additional six LFG plants, two biomass power and cogeneration plants and five biomass boiler projects.
The Company competes with Chevron Energy Solutions, Constellation Energy, Honeywell, Johnson Controls, Siemens Building Technologies and TAC Energy Solutions.Advisors' Opinion:
- [By Sara Murphy]
Ameresco (NYSE: AMRC ) is one of the few large, independent energy efficiency service providers. The company's principal service is the development, design, engineering and installation of projects that reduce the energy and operations and maintenance costs of its customers' facilities. Ameresco has seen declining revenues recently because of unusually long lag times in getting its projects funded, but this seems a temporary setback.
- [By Brian Pacampara]
Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, energy efficiency technologist Ameresco (NYSE: AMRC ) has earned a coveted five-star ranking.
Best Energy Companies To Buy Right Now: Enduro Royalty Trust (NDRO)
Enduro Royalty Trust (the Trust) is a statutory trust. On May 13, 2011, the Trust was formed by Enduro Resource Partners LLC (Enduro Sponsor) to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties in the states of Texas, Louisiana and New Mexico (the Underlying Properties) held by Enduro Sponsor as of the date of the conveyance of the net profits interest to the trust. The business and affairs of the Trust will be managed by The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee). In addition, Wilmington Trust Company will act as Delaware trustee (the Delaware Trustee) of the Trust.
The Trust will enter into an administrative services agreement with Enduro pursuant to which Enduro will provide the Trust with certain accounting, bookkeeping, and informational services related to the Net Profits Interest. Enduro Sponsor is a privately-held limited liability company engaged in the production and development of oil and natural gas from properties located in Texas, Louisiana and New Mexico.Advisors' Opinion:
- [By Rich Duprey]
Statutory trust Enduro Royalty Trust (NYSE: NDRO ) announced yesterday its July monthly distribution of $0.128817�per unit; it has paid a monthly dividend since November 2011. The distribution announced in May was $0.096825 per unit.
Best Energy Companies To Buy Right Now: Central Iron Ore Ltd (CIO)Central Iron Ore, Ltd. is a Canada-based exploration and development company. The Company is engaged in the search for and development of iron ore and gold. Its projects include Yilgarn Iron Ore Project, South Darlot Gold Project and Eureka Gold Project. Advisors' Opinion:
- [By Monica Wolfe]
These four insiders made their buys during the public offering for $6 per share, and since their buys the price per share is down about -0.83%.� Highlighted below are the insiders��individual buys:Timothy Keating (CEO):� Bought 8,000 shares for $48,000.� Now holds 98,000 shares of KIPO stock. Taylor Simonton (D):� Bought 3,000 shares for $18,000. Now holds 13,000 shares of KIPO stock. Kyle Rogers (CIO):� Bought 3,072 shares for $18,432.� Now holds 8,096 shares of company stock. Frederic Schweiger (CFO/COO):� Bought 8,000 shares for $48,000.� Now holds on to 26,700 shares of KIPO stock.