Point Roberts WA - November 9, 2010 (Investorideas.com Energy Newswire) – www.Investorideas.com reports on energy stocks trading for November 9th. Energy stocks got a boost as oil hit a two year high and news that Chevron Corporation (NYSE:CVX) would acquire Atlas Energy (NASDAQ:ATLS) for cash of $3.2 billion and assumed pro forma net debt of approximately $1.1 billion.
Oil and Gas Stocks; American Petro-Hunter (OTCBB: AAPH) Reviewing Potential Production Acquisitions
SCOTTSDALE, AZ - November 9, 2010 (Investorideas.com Energy Newswire) - American Petro-Hunter (OTCBB: AAPH) is pleased to announce that the Company is currently reviewing 3 potential oil production assets for acquisition.
Energy Stocks Research; The Role of Independent Producers in America's Energy Future Independents now play a vital role in supplying America’s energy - Lisa Springer, CFA, Equity research analyst
Point Roberts WA - November 8, 2010 (Investorideas.com Energy Newswire) - www.Investorideas.com, an investor research portal specialized in sector investing, issues energy sector commentary from Lisa Springer, CFA, equity research analyst and financial writer. The report entitled,' The Role of Independent Producers in America's Energy Future' includes Energy Stocks: American Petro-Hunter, Inc. (OTC.BB: AAPH) , like BP (NYSE:BP), ExxonMobil (NYSE:XOM) , Chevron (NYSE:CVX), Chesapeake (NYSE:CHK), Devon Energy (NYSE:DVN) and Southwestern (NYSE:SWN).
Chevron (NYSE:CVX) Announces Agreement to Acquire Atlas Energy (NASDAQ:ATLS)
Acquisition gives Chevron high quality natural gas position in the Marcellus Shale Chevron becomes 60 percent operator of a joint venture with Reliance Industries
SAN RAMON, Calif. - (Investorideas.com energy newswire) - Chevron Corporation (NYSE:CVX ) and Atlas Energy, Inc. (NASDAQ:ATLS ) announced today that Chevron would acquire Atlas Energy for cash of $3.2 billion and assumed pro forma net debt of approximately $1.1 billion. The acquisition will provide Chevron with an attractive natural gas resource position primarily located in southwestern Pennsylvania's Marcellus Shale. The acquisition is subject to certain Atlas Energy restructuring transactions, approval by Atlas Energy shareholders and regulatory clearance.
"This acquisition is the right opportunity for Chevron," said George L. Kirkland, Chevron Vice Chairman. "We are acquiring a company that has one of the premier acreage positions in the prolific Marcellus. The high quality resource, competitive cost structure in the Marcellus, strong growth potential of the asset base and its proximity to premier natural gas markets make this targeted acquisition a compelling investment for Chevron."
Kirkland also commented: "The Atlas Energy assets further advance Chevron's global shale gas position, complementing the company's recent entrance into shale gas opportunities in Poland, Romania and Canada."
Gary Luquette, Chevron North America Exploration and Production President said, "Atlas Energy brings to us a highly skilled team with strong operating experience and established land management capabilities. This knowledge, together with Chevron's technical expertise and global experience with large scale project developments, will create strong organizational synergies."
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More info: American Petro-Hunter, Inc. (OTCBB: AAPH)
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the hunt for domestic petroleum assets.
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