Point Roberts, WA - May 16 , 2011 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leader in sector research including energy stocks releases a trading alert for oil and gas stocks drilling in Oklahoma including American Petro-hunter Inc (OTCBB: AAPH), Devon Energy Corporation (NYSE: DVN),Cimarex Energy (NYSE: XEC) and Continental Resources, Inc. ( NYSE: CLR).
NYSE: DVN )recently reported first-quarter production benefited from better than expected results from several core properties, including the Cana-Woodford and Barnett Shale.
American Petro-Hunter, Inc. (OTC.BB: AAPH) announced today that drilling operations have commenced at the Company's newest well site on the North Oklahoma Project. Today, drilling equipment has been mobilized with preparations underway for the Company's first horizontal well, designated NOM1H.
According to research at http://www.aaphreport.com/,”American Petro-hunter Inc (OTCBB: AAPH) is the only junior oil and Gas Company taking part in the play in the heart of the excitement taking place right now in Payne County, Oklahoma! “
- American Petro-hunter Inc (OTCBB: AAPH) trading at $0.39, up 0.0010 (0.26%)
- Devon Energy Corporation (NYSE: DVN ) trading at $82.58, up 0.56 (0.68%) 12:12PM EDT
- Cimarex Energy (NYSE: XEC ) trading at $92.90, up 0.28 (0.30%)
- Continental Resources, Inc. (NYSE: CLR ) trading at $60.09, down 0.71 (1.20%) 12:20PM EDT
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Devon Energy Earns $416 Million in First-Quarter 2011; North American Onshore Production Increases 7 Percent
OKLAHOMA CITY---- Devon Energy Corporation (NYSE:DVN - News) today reported net earnings of $416 million for the quarter ended March 31, 2011, or $0.97 per common share ($0.97 per diluted common share). This compares with first-quarter 2010 net earnings of $1.2 billion, or $2.67 per common share ($2.66 per diluted common share). The decrease in quarterly earnings is primarily attributable to non-cash, unrealized changes in the fair value of oil, gas and NGL derivatives.
First-quarter 2011 financial results were impacted by certain items securities analysts typically exclude from their published estimates. The most significant of the adjusting items was a non-cash, unrealized loss on oil, gas and NGL derivatives of $254 million before-tax ($166 million after-tax). Excluding these adjusting items, Devon earned $575 million or $1.34 per diluted common share in the first quarter of 2011. The adjusting items are discussed in more detail later in this news release.
Production Growth Exceeds Guidance, Driven By Strong Liquids Growth
Production from continuing operations averaged 629,000 oil-equivalent barrels (Boe) per day in the first quarter of 2011, in spite of curtailments related to severe winter weather. Compared to the first quarter of 2010, Devon’s North American onshore production increased seven percent and exceeded the top-end of the company’s guidance by 4,000 barrels per day. First-quarter production benefited from better than expected results from several core properties, including the Cana-Woodford and Barnett Shale.
American Petro-Hunter (OTCBB: AAPH) Announces Drilling of Horizontal Well at North Oklahoma Project
SCOTTSDALE, AZ - May 16, 2011 (Investorideas.com energy newswire) - American Petro-Hunter, Inc. (OTC.BB: AAPH) ("American Petro-Hunter" or the "Company") is very pleased to announce that drilling operations have commenced at the Company's newest well site on the North Oklahoma Project. Today, drilling equipment has been mobilized with preparations underway for the Company's first horizontal well, designated NOM1H.
Full news: http://www.investorideas.com/CO/AAPH/news/2011/05161.asp
About 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. Visit us at: www.americanpetrohunter.com
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Equity research report on American Petro-Hunter Inc (OTCBB: AAPH
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