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Pioneer Energy (PES) and Basic Energy (BAS) Rally on Rising NatGas Prices

By  +Follow January 14, 2014 9:55AM
Tickers Mentioned:

Natural gas futures extended their rally into Tuesday, with contracts for February delivery trading another 2 percent higher on expectations of lower stockpiles and, perhaps more significantly, forecasts that see the US’s unusually arctic winter staying put for the time being.

The NatGas rally translated into gains for a number of oil & gas stocks as well, including those of several companies listed on Equities.com Small-Cap Stars index. The most notable of these were the $605 million oil & gas services firm Basic Energy Services (BAS) , and the $504 million drilling & exploration outfit Pioneer Energy Services Corp. (PES) , both of which closed substantially higher on above-average volume.

Pioneer Energy Services (PES)

The San Antonio, Texas-based Pioneer provides support to major and independent drilling, exploration, and production companies in the US, and its roster of over 60 drill rigs operate in some of the most plentiful shale acreage in the US, including the Northeastern Appalachian Basin as well as in North Dakota and throughout Texas. Furthermore, on Jan 8, Pioneer announced the renewal of a contract to operate 8 of Colombian giant Ecopetrol SA’s (EC) domestic wells. The rise in natural gas prices in recent days has sent shares up over 6 percent on the week, hitting an intraday high of $8.50 a piece on Tuesday’s gains of over 3 percent.

Basic Energy Services (BAS)

Basic Energy, for its part, provides well-site services to US oil and gas producers, and also boasts of considerable expertise in unconventional reserves including, of course, shale oil & gas. BAS operates in the much of the same acreage as Pioneer, but has a substantially larger presence in both the Haynesville and Fayetteville plays in Louisiana and Arkansas.

Basic Energy’s gains on the day are not only tied to natural gas prices, however, as it released select operating data from December 2013. CEO Roe Patterson highlighted the company’s resilience in the face of harsh winter, saying "Despite the adverse winter weather impact throughout most of our footprint in early December, activity levels in all of our business segments were very consistent with what we experienced in November. Some customers attempted to catch up from the delays they experienced earlier in December, creating an uptick in activity through the year-end holiday period."

Furthermore, the company claimed that revenue shortfalls for the prior year would not be as significant as had previously expected. Shares for BAS were up nearly 8 percent ahead of the close, to an intra-day high of $16.14 per share.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for PES
24 Oct 14 15:07:41
PES 11.06 Stock Charts $PES Pioneer Energy Services Corp. (NYSE) Last Updated: 10/24/2014 17:07:43 PES Stock C http://t.co/07O083b7rF
24 Oct 14 14:01:29
$PES Stock Quote Alert for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
John Turner
24 Oct 14 12:32:04
$PES Jefferies Group Upgrades Pioneer Energy Services Corp to "Buy" (PES) http://t.co/RfK9KJDoHs
James P Worthy
24 Oct 14 09:01:31
$PES Jefferies Group Upgrades Pioneer Energy Services Corp to "Buy" (PES) http://t.co/BZzm4ezItl
23 Oct 14 19:33:37
Pioneer Energy Services (PES) Jumps 5.07% on October 23 $PES http://t.co/J4A2e0QAXd
23 Oct 14 14:00:58
$PES Stock Quote Alert for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
22 Oct 14 19:00:27
$PES | Pioneer Energy Se is down 25% since we reported $1,190,410 of insider selling on 08/12/2014. Did you ... - http://t.co/0Uid8cP8D6
22 Oct 14 18:52:14
PES 11.05 Stock Charts $PES Pioneer Energy Services Corp. (NYSE) Last Updated: 10/22/2014 20:52:12 PES Stock C http://t.co/VMY0cZDFwV
22 Oct 14 18:49:29
Pioneer Energy Services (PES) Drops 5.47% on October 22 $PES http://t.co/RvkHtxUlN5
22 Oct 14 14:00:57
$PES Stock Quote Alert for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
22 Oct 14 04:58:37
21 Oct 14 18:25:36
Pioneer Energy Services (PES) Jumps 7.74% on October 21 $PES http://t.co/WpQS9DI0hx
21 Oct 14 15:24:21
After Hour Decliners: $INAP, $HIMX, $NOK, $CREE, $OREX, $CATY, $NLNK, $AMD, $VDSI, $BLUE, $PSIX, $GLNG, $PES, $PKG, $BX, $WOOF, $CLNE ......
21 Oct 14 14:00:46
$PES Stock Quote Alert for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
21 Oct 14 03:46:03
The Top in Twitter Related to $PES (Pioneer Energy Services symbol PES) on 10/21/2014 http://t.co/8wJgYHx722
Zonebourse News
20 Oct 14 23:15:03
Nikkei 225 : La Bourse de Tokyo finit en baisse de 2,03% http://t.co/uRfOlRXXOY $PES
Peter Bardens
20 Oct 14 14:32:54
$PES Pioneer Energy Services Corp Receives Average Recommendation of "Buy ... http://t.co/o0kOYxch9r
20 Oct 14 14:00:53
$PES Stock Quote Alert for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
By  +Follow January 14, 2014 9:55AM



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