The Energy Report
Notable Quotes
"With the LOI signed, we urge investors to bolster positions in FCU." (12/22/15) Fission Uranium Corp. - David Sadowski, Raymond James More >
"FCU is taking the right steps regardless of whether PLS is ultimately acquired or developed into a mine." (12/22/15) Fission Uranium Corp. - Heiko Ihle, Rodman & Renshaw More >
"I am quite excited about POE in 2016." (12/16/15) Pan Orient Energy Corp. - Chen Lin, What Is Chen Buying? What Is Chen Selling? More >
"BKX's Oklahoma asset has significant value." (12/16/15) BNK Petroleum Inc. - Michael Charlton, iA Securities More >
"EFR is one of the few companies in a position to write long-term sales contracts and deliver into them at several times its current production rate." (12/17/15) Energy Fuels Inc. - The Gold Report Interview with Eric Coffin More >
ATLS: Executing Nicely in the Marcellus Shale
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JACK AYDIN, KeyBanc Capital Markets
(10/13/2010)
"This morning, Atlas Energy issued Q310 production volumes and provided an update on its Marcellus Shale results. During Q310, ATLS' production averaged 118.3 MMcfe/d— 4.7% above our estimate of 113.0 MMcfe/d. During the quarter, ATLS frac'd and completed 12 wells with an average initial peak rate of 6.8 MMcfe/d—stronger than the 5.1 MMcfe/d from eight wells in Q210. Included in the batch of wells, ATLS had a monster well in Westmoreland County, which achieved an initial rate of 20.9 MMcfe/d. Overall, we believe ATLS issued a positive update and expect shares to gain some momentum into year-end as the company has the first phase of Expansion Gathering system in place by late Q410. We believe ATLS is executing nicely in the Marcellus Shale and is setting up for significant production, proved reserve and NAV growth over the next five years. We reaffirm our BUY rating and price target of $48/share." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
More Experts
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