It looks like Wynn Resorts Ltd. (NASDAQ: WYNN) is going to keep its high-end domestic growth ambitions localized to Las Vegas, Nevada. Even if it wants to expand domestically, it will be doing so elsewhere other than in Pennsylvania. The company issued a press release on Monday afternoon confirming the end of its local application in that state.
The company’s board of directors recently met to carefully examine the feasibility and opportunities associated with the company�� domestic development in Philadelphia, Pennsylvania. It is a no-go move. The company’s press release said,
“At this time, the Board has decided that the best course for the company is to pursue business opportunities elsewhere… The board took a host of factors into consideration, including the Philadelphia market performance over the past year and the competition which will result from the recent approval of gaming in the State of New York. Consequently, the company will withdraw its licensing applications in Pennsylvania.”
Best Railroad Stocks For 2015: Essar Energy Plc (ESSR)
Essar Energy plc is a holding company. The Company is an energy company with assets across the power and oil and gas industries. The Company operates in the areas petroleum refining and marketing, exploration and production and power transmission and generation. The Refining and Marketing business in India comprises of the Vadinar refinery located on the west coast of India and a retail franchise network of around 1,400 fuel stations across India and the Refining, and Marketing business in the United Kingdom comprises of the Stanlow refinery located near Liverpool, north west England and on the south bank of Manchester ship canal. The Company�� exploration and production segment includes a portfolio of 15 blocks and fields in the various stages of exploration and production of oil and gas in India, Indonesia, Nigeria and Vietnam. In Power segment, the Company operates coal fired, captive fuel and gas based power plants in India and Canada together with a number of mining assets. Advisors' Opinion:- [By Sarah Jones]
Essar Energy Plc (ESSR) climbed 2.5 percent to 122 pence after reporting that revenue rose 24 percent to $27.3 billion in the 12 months through March. The company cited higher margins and volumes at its Vadinar refinery in India and its Stanlow refinery in the U.K.
Top 5 Gas Stocks To Watch Right Now: FX Energy Inc (FXEN)
FX Energy, Inc. is an independent oil and gas exploration and production company with production, appraisal, and exploration activities in Poland. The Company operates within two segments of the oil and gas industry: the exploration and production (E&P) segment in Poland and the United States, and the oilfield services segment in the United States. The Company also has oil production, oilfield service activities, and a shale acreage position in the United States. During the year ended December 31, 2011, its oil and gas production was 4.4 billion cubic feet of natural gas (12.0 million cubic feet equivalent per day). The Company concentrates its exploration operations in Poland primarily on the Rotliegend sandstones of the Permian Basin. The Company has identified a core area consisting of approximately 852,000 gross acres surrounding PGNiG�� producing Radlin field.
Activities and Presence in Poland
The Company conducts its activities in Poland in project areas, including Fences, Blocks 287, 246, and 229 near the Fences concession, Warsaw South, Kutno, Northwest, and Edge. In the Fences during 2011, it completed the Lisewo-1 well as a commercial well and drilled the Plawce-2 well in a tight sand area. In its other concessions it drilled the Machnatka-2 well, a noncommercial Zechstein/Carboniferous test, in the Warsaw South concession, and started drilling the Kutno-2 well, a deep Rotliegend test, in the Kutno concession. The Fences concession area encompasses 852,000 gross acres (3,450 square kilometers) in western Poland�� Permian Basin. The Fences concession area encompasses 852,000 gross acres (3,450 square kilometers) in western Poland�� Permian Basin. The Company has drilled 11 conventional wells targeting Rotliegend structures through the date of this filing. Eight of these wells are commercial. The Company is produce from four of these eight wells.
The Block 287 concession area is 12,000 acres (50 square kilometers) located approximately 25 miles so! uth of the Fences concession area. The Company owns 100% of the exploration rights. As of December 31, 2011, it has reentered only the Grabowka-12 well. During 2011, it produced at an average daily rate of approximately 0.2 million cubic feet of natural gas per day. The Company has a 100% interest in a concession south of its Fences project area covering approximately 241,000 acres (975 square kilometers). The Company hold a 51% interest in a total of 874,000 acres (3,538 square kilometers.) in east-central Poland. During 2011, it entered into a farmout agreement with PGNiG under which it earned a 49% interest in the entire Warsaw South concession in return for paying certain seismic and drilling costs. It subsequently drilled the Machnatka-2 well to test Zechstein and Carboniferous potential in the western part of the concession area.
The Company holds a 100% interest in 706,000 acres (2,856 square kilometers). The area encompasses a Rotliegend structure (Kutno) with projected four-way dip closure. It started drilling the Kutno-2 well during 2011. It hold concessions on 828,000 acres (3,351 square kilometers) in west-central Poland, in Poland�� Permian Basin directly north of PGNiG�� BMB and MLG oil and gas fields. The Company has a 100% interest in four concessions in north-central Poland covering approximately 881,000 acres (3,567 square kilometers). As of December 31, 2011, it held oil and gas exploration rights in Poland in separately designated project areas encompassing approximately 4.6 million gross acres. The Company is the operator in all areas, except its 852,000 gross-acre core Fences project area, in which it hold a 49% interest in approximately 807,000 acres and a 24.5% interest in the remaining 45,000 acres.
U.S. Activities and Presence
The operations consist of shallow, oil-producing wells in the Southwest Cut Bank Sand Unit (SWCBSU), of Montana. Its oil wells produce approximately 155 barrels of oil per day, net to its interest. From its fie! ld office! in Montana, the Company also provides oilfield services. The Company produces oil from approximately 10,732 gross (10,418 net) acres in Montana and 400 gross (128 net) acres in Nevada. In 2011, the Company entered into a joint venture with two other companies, American Eagle Energy, Inc., and Big Sky Operating LLC, in which it pooled our approximately 10,000 net acres in our SWCBSU with their approximately 65,000 net acres, the Americana leases, along with a farmout agreement that provides the group with an ability to earn an interest in an additional 7,000 acres covered by the Somont leases. During 2011, it drilled three vertical wells on joint venture acreage to obtain log and core data. The Company also drilled a 3,600-foot lateral from one of these three wells, the Anderson 14-29, and carried out a multistage fracture. The Company is testing oil potential in the Anderson 14-29 well. The Company has a one-third working interest in all formations below the Cut Bank in its SWCBSU.
Advisors' Opinion:- [By Roberto Pedone]
FX Energy (FXEN) is an independent oil and gas exploration and production company with principal production, reserves and exploration in Poland and oil production, oilfield service and exploration activities in the U.S. This stock closed up 5.7% to $3.69 in Thursday's trading session.
Thursday's Range: $3.34-$3.71
52-Week Range: $2.48-$8.78
Thursday's Volume: 524,000
Three-Month Average Volume: 672,515From a technical perspective, FXEN bounced notably higher here right above some near-term support at $3.31 and back above its 50-day moving average of $3.66 with decent upside volume. This move is quickly pushing shares of FXEN within range of triggering a near-term breakout trade. That trade will hit if FXEN manages to take out some near-term overhead resistance levels at its 200-day moving average of $3.89 to more resistance at $3.98.
Traders should now look for long-biased trades in FXEN as long as it's trending above support at $3.31 and then once it sustains a move or close above those breakout levels with volume that hits near or above 672,515 shares. If that breakout triggers soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.76. Any high-volume move above those levels will then put its recent high at $5 into range for shares of FXEN.
- [By James E. Brumley]
I hate to be the one to say I told you so, but, I told you so. Within the past week I suggested both FX Energy, Inc. (NASDAQ:FXEN) and MeetMe Inc. (NYSEMKT:MEET) were on the verge of breakouts, and sure enough, both are making good on that promise today; FXEN is up 5%, and MEET shares are higher by nearly 13%. Granted, the market's bullish tide is helping... a little. But, with both of these stocks outpacing the market's gain today, odds are that we would have seen these breakout moves anyway.
- [By Roberto Pedone]
An under-$10 energy player that's trending very close to triggering a major breakout trade is FX Energy (FXEN), which is an independent oil and gas exploration and production company with principal production, reserves and exploration in Poland and oil production, oilfield service and exploration activities in the U.S. This stock has been under selling pressure so far in 2013, with shares off by 12.6%.
If you take a look at the chart for FX Energy, you'll notice that this stock recently formed a double bottom chart pattern at $2.82 to $2.93 a share. Following that bottom, shares of FXEN are now starting to uptrend and push back above its 50-day moving average of $3.41 a share. That move is quickly pushing shares of FXEN within range of triggering a major breakout trade above a key downtrend line that started back in late May.
Traders should now look for long-biased trades in FXEN if it manages to break out above its 200-day moving average at $3.75 a share and then once it takes out more near-term overhead resistance at $3.98 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 478,408 shares. If that breakout triggers soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.76 a share. Any high-volume move above those levels will then put its May high at $6.18 into range for shares of FXEN.
Traders can look to buy FXEN off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $3.11 to $2.93 a share. One can also buy FXEN off strength once it clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
- [By Roberto Pedone]
Another energy player that's starting to trend within range of triggering a major breakout trade is FX Energy (FXEN), which is an independent oil and gas exploration and production company with principal production, reserves and exploration in Poland and oil production, oilfield service and exploration activities in the U.S. This stock is off to a slow start in 2013, with shares off by 14%.
If you take a look at the chart for FX Energy, you'll notice that this stock has been trending sideways inside of a consolidation chart pattern for the last two months and change, with shares moving between $2.93 on the downside and $3.98 on the upside. Shares of FXEN are now starting to bounce higher off its 50-day moving average of $3.36 share, and it's quickly moving within range of triggering a major breakout trade above the upper-end of its recent range.
Traders should now look for long-biased trades in FXEN if it manages to break out above some key near-term overhead resistance levels at $3.62 to $3.71 a share and then above more resistance at $3.98 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 377,632 shares. If that breakout hits soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.76 a share. Any high-volume move above those levels will then give FXEN a chance to tag or trend above $5 a share.
Traders can look to buy FXEN off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $3.15 or $2.93 a share. One could also buy FXEN off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
Top 5 Gas Stocks To Watch Right Now: Phillips 66 Partners LP (PSXP)
Phillips 66 Partners LP, incorporated on February 20, 2013, owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines and terminals and other transportation and midstream assets. The Company�� initial assets consist of the three systems, which include Clifton Ridge crude system, Sweeny to Pasadena products system and Hartford Connector products system. A refined petroleum product pipeline, terminal and storage system extending from Phillips 66�� Sweeny refinery in Old Ocean, Texas, to its refined petroleum product terminal in Pasadena, Texas, and ultimately connecting to the Explorer and Colonial refined petroleum product pipeline systems and other third-party pipeline and terminal systems.
A crude oil pipeline, terminal and storage system located in Sulphur, Louisiana, that is the primary source for delivery of crude oil to Phillips 66�� Lake Charles refinery. A refined petroleum product pipeline, terminal and storage system located in Hartford, Illinois, that distributes diesel and gasoline produced at the Wood River refinery (a refinery owned by a joint venture between Phillips 66 and Cenovus Energy Inc.) to third-party pipeline and terminal systems, including the Explorer refined petroleum product pipeline system.
Advisors' Opinion:- [By Monica Wolfe]
Phillips 66 Partners LP (PSXP)
Chairman and CEO Greg Garland made a significant buy during the company�� IPO on July 26. Garland purchased 35,000 shares at $23 per share. This transaction cost him a total of $805,000.
Top 5 Gas Stocks To Watch Right Now: Halliburton Company(HAL)
Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and natural gas worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services, completion tools and services, cementing services, and Boots & Coots. Its production enhancement services include stimulation and sand control services; completion tools and services comprise subsurface safety valves and flow control equipment, surface safety systems, packers and specialty completion equipment, intelligent completion systems, expandable liner hanger systems, sand control systems, well servicing tools, and reservoir performance services; cementing services consist of bonding the well and well casing, while isolating fluid zones and maximizing wellbore stability, and casing equipment; and Boots & Coots include well intervention services , pressure control, equipment rental tools and services, and pipeline and process services. The Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and wellbore placement solutions that enable customers to model, measure, and optimize their well construction activities. Its services comprise fluid services, drilling services, drill bits, wireline and perforating services, testing and subsea services, software and asset solutions, and integrated project management and consulting services. The company serves independent, integrated, and national oil companies. Halliburton Company was founded in 1919 and is headquartered in Houston, Texas.
Advisors' Opinion:- [By Matt DiLallo]
The water issue
ExxonMobil is running up against two major issues. Chinese shale formations are much deeper than those in the U.S. and most are in remote areas that lack water and infrastructure. Because hydraulic fracturing requires millions of gallons of water per well, this is a real problem. However, oil-field service companies like Halliburton (NYSE: HAL ) and Baker Hughes (NYSE: BHI ) could turn out to hold the keys to that problem. Both are working on water recycling technologies that could alleviate some of the water problems.
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