Wunderlich reports on Transocean RIG: that "reserve and production estimates depend on many assumptions that may turn out to be inaccurate. Any material change in these figures could materially change our estimates."
Wunderlich remains cautious offshore and intends to focus on oil and gas investments with primarily onshore players such as such as American Oil & Gas Inc. AEZ(-$6.21, Buy), Clayton Williams Energy Inc. CWEI(-$40.49, Buy), GeoResources
Inc. GEOI(-$14.26, Buy), Gulfport Energy Corp. GPOR(-$12.50, Buy), Northern Oil & Gas NOG(-$14.38, Buy), and Venoco Inc.
VQ(-$18.69, Buy).
On the oilfield service side, we continue to believe technology plays like Newpark Resources Inc. NR(-$7.38, Buy),
Core Laboratories N.V. CLB(-$82.50, Buy), or oily Lufkin Industries LUFK(-$42.20, Buy) which Wunderlich expects should outperform.
Transocean closed yesterday at $49.00.
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date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
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Posted In: Analyst ColorNewsGlobalIntraday UpdateMarketsAnalyst RatingsAmerican Oil & GasbpClayton WilliamsCore LaboratoriesGeoResourcesGulfportLufkin IndustriesMacondoNewpark ResourcesNorthern Oil & GastransoceanVenocoWunderlich
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