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

By  +Follow January 14, 2014 9:55AM
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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
Gotham City Capital
5 Mar 15 21:08:10
$PES Watching Small Cap Oil Plays IF Oil Goes Higher... #OIL #CRUDE Looking Neutral ATM.. http://t.co/HUnrzrcdjk
$Stocknewsalerts
5 Mar 15 14:01:31
$PES Stock Quote Alert for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
$Stocknewsalerts
5 Mar 15 10:20:42
$PES New SEC Filing for Pioneer Energy Services (NYSE:PES) From our Stock News Alerts App
NASDAQ
5 Mar 15 10:04:03
$PES - Current Report Filing (8-k) http://t.co/wsNCyNeJpO
Stocks News&Markets
5 Mar 15 10:04:03
$PES - Current Report Filing (8-k) http://t.co/pG1hD8iQu2
BV Basic Materials
5 Mar 15 10:02:12
$PES Pioneer Energy Services Corp files Form 8-K (Events or Changes Between Quarterly Reports) SEC Fil.. http://t.co/Vyrc7x1qfI
danrocks
5 Mar 15 08:26:39
Right now PES is number 58 for the largest percentage gain out of 241 stocks. $PES PES is up +9.18% in the las http://t.co/XOEuTVZp2j
danrocks
5 Mar 15 08:26:18
$PES PES Stock is number 58 for the largest percentage gain out of 241 stocks. $PES PES is up +9.18% in the last 5 http://t.co/GRuwgeJNAw
Greg David
5 Mar 15 07:44:16
http://t.co/RMvVXnJDpv does trade alerts differently than anyone else. Its super cool. $THNS $SZYM $APP $EXTR $PPP $CTIC $PES
SL
5 Mar 15 06:14:43
Fun day Thursday Watchlist - Energy: $SN $LINE $PES $BBEP Solar: $CSIQ $SOL $VSLR Crazy Gappers: $EYES $ARWR $PEIX
US Banking News
5 Mar 15 02:10:05
Weekly Research Analysts’ Ratings Updates for Pioneer Energy Services Corp $PES http://t.co/2cN1KWbXHV
Sleek Money
5 Mar 15 02:04:11
Weekly Research Analysts’ Ratings Updates for Pioneer Energy Services Corp $PES http://t.co/A4b4oWsjnp
StockNewsWires
5 Mar 15 02:01:02
$PES: Weekly Research Analysts' Ratings Updates for Pioneer Energy ...: http://t.co/Nu8VoZlaaB
nasdaqfan
4 Mar 15 19:38:08
Stocks Trending Now: http://t.co/Hl6ZNuqtiK $FBECD $NRWS $KRYAF $AFRNF $TOTZF $TTHI $SALDF $HIG.W $ISEYF $LGMFF $PES $ARL ~
Capital Market Labs
4 Mar 15 18:19:31
$PES #ALERT Revenue Expanding --> http://t.co/2uLvei7dYN #CML
NASDAQ
4 Mar 15 14:35:19
$PES - Current Report Filing (8-k) http://t.co/AY6paFKavl
Stocks News&Markets
4 Mar 15 14:35:18
$PES - Current Report Filing (8-k) http://t.co/asw1f44Gyn
ProVesting
4 Mar 15 14:35:03
$PES: New SEC Filing for PES: Form 8-K (No. 0000320575-15-000015): http://t.co/R5XNVQ6VaU
BV Basic Materials
4 Mar 15 14:34:06
$PES Pioneer Energy Services Corp files Form 8-K (Events or Changes Between Quarterly Reports) SEC Fil.. http://t.co/cQZVRnXcpD
SEC Filings Reporter
4 Mar 15 14:34:05
NEW SEC Filing for $PES filed a moment ago: http://t.co/OTkXbMMiG4 http://t.co/HEKYvKde02
Greg David
4 Mar 15 13:24:17
http://t.co/RMvVXnJDpv does trade alerts differently than anyone else. Its super cool. $THNS $SZYM $APP $EXTR $PPP $CTIC $PES
$eankc
4 Mar 15 13:18:52
RT @TravisMKnight: #OIL Plays On Watch If #CRUDE Keeps Moving Up: $PES $BBEP $EXXI $REXX $HK $HP $MHR $NBR $PTEN
US_proptrader
4 Mar 15 12:17:47
$BAS $BBG $CRK $ECR $ICPT $KOP $PES $PVA $SFY autocharts @ http://t.co/cLiki3R0GR
Large Void Bot
4 Mar 15 12:00:47
Popular: $FL, $TSRO, $ECR, $DBA, $HALO, $PES, $PRLB, $CPE, $BIB, $MEIP, $TCK, $TAN, $CLF, $WTI, $XLV, $HPJ, $SINA, $CLR, $HABT, $PEIX
US_proptrader
4 Mar 15 11:16:46
$ARNA $CJES $ECR $IMRS $NAV $NBR $OPWR $PES $WBAI autocharts @ http://t.co/cLiki3R0GR
BreakingStocksNews
4 Mar 15 08:17:01
$PES: Pioneer Energy Services Corp. Price Target Update: http://t.co/iPEXXqkXhT
Ron Renfrow
4 Mar 15 07:32:37
$PES out flat
Ron Renfrow
4 Mar 15 07:29:13
Stop moved to even on $PES
Ron Renfrow
4 Mar 15 07:21:46
Long $PES 5.82 stop low of day
Ron Renfrow
4 Mar 15 07:20:47
$PES on watch
Ian-the-money
4 Mar 15 06:56:31
$PES Trade the trend.
StockNewsWires
4 Mar 15 06:26:05
$PES $HCOM: Why Traders Are Watching: Fiat Chrysler Automobiles N.V. (NYSE ...: http://t.co/2rsig9Q3F8
				
				
By  +Follow January 14, 2014 9:55AM
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