Best Gas Stocks To Invest In Right Now

Devon Energy (DVN) could be going shopping–and investors seem have warmed to the idea.

Shares of Devon have gained 5.6% to $63.13 at 3:14 p.m., easily outpacing the likes of Anadarko Petroleum (APC), which has gained just 0.6% to $90.91, Occidental Petroleum (OXY), which is little changed at $97.11, and Apache Corp. (APA), which has advanced 1.2% to $93.10.

The Wall Street Journal reports on Devon’s potential deal:

Devon Energy�Corp. is nearing a deal to buy GeoSouthern Energy Corp. for about $6 billion, people familiar with the matter said.

A deal could be announced Wednesday, some of the people said.

Closely held GeoSouthern is an oil-and-gas exploration company focusing on the Eagle Ford shale formation in south Texas, which it helped pioneer.

The WSJ story hit around 2:22 p.m. and this chart shows what happened then:

Top Food Companies To Buy Right Now: EQT Midstream Partners LP (EQM)

EQT Midstream Partners, LP owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. The Company focuses its operations in the Marcellus Shale fairway in southern Pennsylvania and northern West Virginia. It provides midstream services to EQT Corporation in the Appalachian Basin across 22 counties in Pennsylvania and West Virginia through its two primary assets: its transmission and storage system, which serves as a header system transmission pipeline, and its gathering system, which delivers natural gas from wells and other receipt points to transmission pipelines.

Equitrans Transmission and Storage System

As of December 31, 2011, the Company�� transmission and storage system included an approximately 700 mile FERC-regulated interstate pipeline system that connects to five interstate pipelines and multiple distribution companies, and it is supported by 14 associated natural gas storage reservoirs with approximately 400 million cubic feet per day of peak withdrawal capability and 32 billion cubic feet of working gas capacity. As of December 31, 2011, its transmission assets had total throughput capacity of approximately 1.0 trillion British thermal units per day.

Equitrans Gathering System

The Company�� gathering system consists of approximately 2,100 miles of FERC-regulated low-pressure gathering lines that have multiple delivery interconnects with its transmission and storage system and a gathering and interstate pipeline system owned and operated by Dominion Transmission, Inc.

Advisors' Opinion:

• [By Matt DiLallo]

  Unfortunately for XTO Energy, there was one small and, unbeknownst to anyone, unresolved matter. You see, LINN had a contract to sell its gas through a unit of Dominion Resources (NYSE: D  ) , which was gathering the gas in its system. However, LINN's gas wasn't up to the system's standards, so it began to look for another gatherer and it approached Equitrans, which is now part of EQT Midstream Partners (NYSE: EQM  ) but formerly was a unit of EQT Corp. (NYSE: EQT  ) -- they talked, but nothing was signed. However, an EQT employee later that year thought that it had and began crediting gas to the wrong company.

• [By Michael Flannelly]

  Goldman Sachs analysts started coverage on EQT Midstream Partners LP (EQM) early on Monday, giving the oil and natural gas distribution company a bullish rating due to its low-risk cash flows.

  The analysts rate EQM as “Buy” and see shares reaching $59. This price target suggests a 22% upside to the stock’s Friday closing price of $48.28.

  Goldman Sachs analyst Theodore Durbin said, “EQM’s FERCregulated pipeline and storage assets offer stable, low-risk fee-based cash flows supported by firm long-term contracts. A robust production outlook in the Marcellus and meaningful inventory of dropdown assets at the parent enhances distribution growth visibility. EQM has a low cost of capital, no debt outstanding, high liquidity and an aligned sponsor that should bolster the partnership�� multi-year double-digit distribution growth outlook.”

  EQT Midstream Partners shares were inactive during pre-market trading on Monday. The stock is up 54.99% year-to-date.

• [By Lee Jackson]

  EQT Midstream Partners L.P. (NYSE: EQM) has everything the Oppenheimer team is looking for: low-risk, fee-based contracts in an attractive region, low financial leverage, high distribution growth and coverage and a supportive parent with assets to sell. Oppenheimer has a $55 price target for the stock. The Thomson/First Call estimate is at $54. Investors are paid a 3.4% distribution which Oppenheimer thinks may grow to 4.3% in 2014. Remember, MLP distributions may include return of principal.

• [By Robert Rapier]

  Rounding out the top five were�Hi-Crush Partners�(NYSE: HCLP), another supplier of fracking sand (+71 percent),�EQT Midstream Partners�(NYSE: EQM), a midstream provider in the Appalachian Basin (+66.5 percent), and�Valero Energy Partners�(NYSE:VLP) (+61.5 percent), which consists of midstream assets dropped down from the refiner�Valero Energy�(NYSE:VLO).

Best Gas Stocks To Invest In Right Now: QEP Midstream Partners LP (QEPM)

QEP Midstream Partners, LP (QEP), incorporated on April 19, 2013, is a limited partnership formed by QEP Resources, Inc. to owns, operates, acquires and develops midstream energy assets. The Company�� primary assets consist of ownership interests in four gathering systems and two Federal Energy Regulatory Commission (FERC)-regulated pipelines, through which it provides natural gas and crude oil gathering and transportation services. The Company�� assets are located in, or are within close proximity to, the Green River Basin located in Wyoming and Colorado, the Uinta Basin located in eastern Utah, and the portion of the Williston Basin located in North Dakota. As of December 31, 2012, the Company�� gathering systems had 1,475 miles of pipeline and an average gross throughput of 1.8 million british thermal units per hour of natural gas and 18,224 barrels of crude oil.

Green River System

The Company�� Green River System, located in western Wyoming, consists of three complimentary systems owned by Green River Gathering, Rendezvous Gas and Rendezvous Pipeline and gathers natural gas production from the Pinedale, Jonah and Moxa Arch fields. In addition to gathering natural gas, the system also gathers and stabilizes crude oil production from the Pinedale Field, transports the stabilized crude oil to an interstate pipeline interconnect, and gathers and handles produced and flowback water associated with well completion activities in the Pinedale Field. The Green River Gathering assets are comprised of 405 miles of natural gas gathering pipelines, 61 miles of crude oil gathering pipelines, 81 miles of water gathering pipelines and a 60-mile, FERC-regulated crude oil pipeline located in the Green River Basin. The Rendezvous Gas assets consist of three parallel, 103-mile high-pressure natural gas pipelines, with 1,032 million cubic feet per day of throughput capacity and 7,800 basic hydrogen peroxide of gas compression. Rendezvous Pipeline�� sole asset is a 21-mile, FERC-regu! lated natural gas transmission pipeline that provides gas transportation services from QEP�� Blacks Fork processing complex in southwest Wyoming to an interconnect with the Kern River Pipeline.

Vermillion Gathering System

The Vermillion Gathering System consists of gas gathering and compression assets located in southern Wyoming, northwest Colorado and northeast Utah, which, when combined, include 454 miles of low-pressure, gas gathering pipelines and 23,197 basic hydrogen peroxide of gas compression. The Vermillion Gathering System is primarily supported by life-of-reserves and long-term, fee-based gas gathering agreements with minimum volume commitments, which are designed to ensure that it will generate a certain amount of revenue over the life of the gathering agreement by collecting either gathering fees for actual throughput or payments to cover any shortfall. The primary customers on our Vermillion Gathering System include Questar, Samson Resources Corporation (Samson Resources), QEP and Chevron USA, Inc. (Chevron).

Three Rivers Gathering System

Three Rivers Gathering is a joint venture between QEP and Ute Energy Midstream Holdings, LLC (Ute Energy) that was formed to transport natural gas gathered by Uintah Basin Field Services, L.L.C., an indirectly owned subsidiary of QEP (Uintah Basin Field Services), and other third-party volumes to gas processing facilities owned by QEP and third parties. The Three Rivers Gathering System consists of gas gathering assets located in the Uinta Basin in northeast Utah, including approximately 50 miles of gathering pipeline and 4,735 basic hydrogen peroxide of gas compression.

Williston Gathering System

The Williston Gathering System is a crude oil and natural gas gathering system located in the Williston Basin in McLean County, North Dakota. The Williston Gathering System includes 17 miles of gas gathering pipelines, 17 miles of oil gathering pipelines 239 basic hydrogen peroxide o! f gas com! pression, and a crude oil and natural gas handling facility, located primarily on the Fort Berthold Indian Reservation.

The Company competes with Enterprise Products Partners, L.P., Western Gas and The Williams Companies, Inc.

Advisors' Opinion:

• [By Dimitra DeFotis]

  But things aren’t all bad. A spate of initial public offerings traded at nice prices Friday. Among them was QEP Midstream Partners (QEPM), an energy master limited partnership. (Press release here). More on IPOs from Bloomberg here.

• [By Jon C. Ogg]

  QEP Midstream Partners L.P. (NYSE: QEPM) was started as Buy at Janney Capital, and note that four other firms started coverage earlier this week.

  ServiceNow Inc. (NYSE: NOW) was started as Buy with a $55 price target at Canaccord Genuity.

• [By Lauren Pollock]

  QEP Resources Inc.(QEP) plans to separate its midstream business, QEP Field Services Co., into a separate entity, including its interest in QEP Midstream Partners LP(QEPM).

Best Gas Stocks To Invest In Right Now: Royal Dutch Shell PLC (RDS.B)

Royal Dutch Shell plc (Shell), incorporated on February 5, 2002, is an independent oil and gas company. The Company owns, directly or indirectly, investments in the numerous companies constituting Shell. Shell is engaged worldwide in the principal aspects of the oil and gas industry and also has interests in chemicals and other energy-related businesses. The Company operates in three segments: Upstream, Downstream and Corporate. Upstream combines the operating segments Upstream International and Upstream Americas, which are engaged in searching for and recovering crude oil and natural gas; the liquefaction and transportation of gas; the extraction of bitumen from oil sands that is converted into synthetic crude oil, and wind energy. Downstream is engaged in manufacturing; distribution and marketing activities for oil products and chemicals, in alternative energy (excluding wind), and carbon dioxide (CO2) management. Corporate represents the key support functions, comprising holdings and treasury, headquarters, central functions and Shell�� self-insurance activities. In October 2011, the Company bought a marine terminal on Canada's Pacific Coast as a possible site for a liquefied natural gas export terminal. In January 2012, the Company's 50% owned, Australia Arrow Energy Holdings Pty Ltd acquired all of the shares in Bow Energy Ltd. In January 2014, Royal Dutch Shell plc completed the acquisition of Repsol S.A.'s liquefied natural gas (LNG) portfolio outside North America.

Upstream International manages the Upstream businesses outside the Americas. It searches for and recovers crude oil and natural gas, liquefies and transports gas, and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream International also manages Shell�� entire liquefied petroleum gas (LNG) business, gas to liquids (GTL) and the wind business in Europe. Its activities are organized primarily within geographical units, although there are some activities that are mana! ged across the businesses or provided through support units.

Upstream Americas manages the Upstream businesses in North and South America. It searches for and recovers crude oil and natural gas, transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream Americas also extracts bitumen from oil sands that is converted into synthetic crude oil. Additionally, it manages the United States-based wind business. It comprises operations organized into business-wide managed activities and supporting activities.

Downstream manages Shell�� manufacturing, distribution and marketing activities for oil products and chemicals. These activities are organized into globally managed classes of business, although some are managed regionally or provided through support units. Manufacturing and supply includes refining, supply and shipping of crude oil. Marketing sells a range of products including fuels, lubricants, bitumen and liquefied petroleum gas (LPG) for home, transport and industrial use. Chemicals produces and markets petrochemicals for industrial customers, including the raw materials for plastics, coatings and detergents. Downstream also trades Shell�� flow of hydrocarbons and other energy-related products, supplies the Downstream businesses, markets gas and power and provides shipping services. Downstream additionally oversees Shell�� interests in alternative energy (including biofuels, and excluding wind) and CO2 management.

Projects and Technology manages the delivery of Shell�� major projects and drives the research and innovation to create technology solutions. It provides technical services and technology capability covering both Upstream and Downstream activities. It is also responsible for providing functional leadership across Shell in the areas of health, safety and environment, and contracting and procurement.

Advisors' Opinion:

• [By Vinay Singh]

  Natural gas isn't as cheap as it was a year ago and that's leading to big changes in the energy market. That will be a good thing for Ultra Petroleum (UPL), Royal Dutch Shell (RDS.B) and Alliance Natural Resource Partners (ARLP).

Best Gas Stocks To Invest In Right Now: Athabasca Oil Corp (ATHOF.PK)

Athabasca Oil Corporation, formerly Athabasca Oil Sands Corp., is focused on the exploration and development of unconventional oil resource plays in Alberta, Canada. The Company is organized into two divisions: thermal oil and light oil. Thermal oil includes the Company�� assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. Light oil includes the Company�� assets, liabilities and operating results for the exploration, development and production of unconventional oil, natural gas and natural gas liquids located in various regions in the province of Alberta. Athabasca has accumulated more than 1.5 million (net) acres of oil sands leases in the Athabasca area of northern Alberta. The Company�� oil sands projects are Hangingstone (100%), Dover West Sands (100%), Dover West Carbonates (100%), Dover (40%), Birch (100%) and Grosmont (50%). Advisors' Opinion:

• [By Stephan Dube]

  Athabasca's most notable producers:

  Suncor Energy (SU) (Part 1), see article here.Suncor Energy (Part 2), see article here.Athabasca Oil (ATHOF.PK), see article here.Canadian Natural Resources, see article here.Imperial Oil, see article here.Cenovus Energy (CVE), see article here.MEG Energy (MEGEF.PK), see article here.Devon Energy, see article here.Royal Dutch Shell, see article here.Ivanhoe Energy (IVAN), see article here.Nexen (CNOOC) (CEO), see article here.

  An analysis of the current operations of the company will be examined with the objective to provide the most complete information available to potential investors before deciding to seize the opportunity that the 54,132 square miles of the Carbonate Triangle has to offer. Let's start by introducing Athabasca, a famous and most prolific region in the Canadian oil sands as well as one of the largest reserve in the world.

Best Gas Stocks To Invest In Right Now: Chevron Corporation(CVX)

Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. The Upstream segment involves in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as holds interest in a gas-to-liquids project. The Downstream segment engages in the refining of crude oil into petroleum products; marketing of crude oil and refined products primarily under the Chevron, Texaco, and Caltex brand names; transportation of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacture and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It a lso produces and markets coal and molybdenum; and holds interests in 13 power assets with a total operating capacity of approximately 3,100 megawatts, as well as involves in cash management and debt financing activities, insurance operations, real estate activities, energy services, and alternative fuels and technology business. Chevron Corporation has a joint venture agreement with China National Petroleum Corporation. The company was formerly known as ChevronTexaco Corp. and changed its name to Chevron Corporation in May 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.

Advisors' Opinion:

• [By Paul Ausick]

  Chevron Corp. (NYSE: CVX) is off about 0.7% in mid-afternoon trading at $111.33 in a 52-week range of $109.27 to $127.83. The high was posted all the way back in late July, but the stock traded over $125 in late December, and like Exxon, the price has dropped nearly 11% since then. With a consensus price target of $129.80, the potential upside based on today�� price is almost 17%.

• [By Paul Ausick]

  Big Earnings Movers: First Solar Inc. (NASDAQ: FSLR) is up 17.4% at $59.07 after crushing estimates after-hours on Thursday. American International Group Inc. (NYSE: AIG) is down 6.5% at $48.28 after an earnings decline. Kodiak Oil & Gas Corp. (NYSE: KOG) is down 4.9% at $12.38. Chevron Corp. (NYSE: CVX) is down 1.6% at $118.03 after reporting disappointing results.

• [By Fede Zaldua]

  British Petroleum's stock still remains undervalued. I think the sell-off that occurred after the platform explosion on April 2010 is still weighing on the shares. As a matter of fact, the company trades at just 8.1 times 2014 earnings and 1.1 times its book value. Meanwhile, other oil majors such as ExxonMobil (XOM) and Chevron (CVX) sell for considerably higher valuation levels. ExxonMobil trades at 11 times 2014 earnings and 2.3 times its book value while Chevron trades at 11.7 2014 earnings and 1.6 times its book value.

• [By Matt Thalman]

  Light Crude also lost today, as the price per barrel fell 2.37%. This is likely one reason why shares of Dow components�Chevron (NYSE: CVX  ) and ExxonMobil (NYSE: XOM  ) ended the session lower. Chevron fell 0.84%, while Exxon fared slightly better, only losing 0.26% of its value.

Best Gas Stocks To Invest In Right Now: HRT Participacoes em Petroleo SA (HRTPY.PK)

HRT Participacoes em Petroleo SA, formerly BN 16 Participacoes Ltda, is a Brazil-based holding company engaged in the oil and gas industry. The Company is primarily involved in the exploration and production (E&P) of oil and natural gas in Brazil and Namibia. Through its subsidiaries, it is active in the geophysical and geological research, exploration, development, production, import, export and sale of oil and natural gas, as well as in the provision of air logistics services in transporting people and equipment related to oil and gas activities in the exploratory campaign in the Solimoes Basin. As of December 31, 2011, the Company had seven subsidiaries, including Integrated Petroleum Expertise Company Servicos em Petroleo Ltda (IPEX), HRT O&G Exploracao e Producao de Petroleo Ltda, HRT Netherlands BV, HRT America Inc, HRT Africa, HRT Canada Inc and Air Amazonia Servicos Aereos Ltda.

Advisors' Opinion:

• [By stanh30]

  In 2010 Brazil�� HRT Participacoes em Petroleo S.A. (HRTPY.PK) raised $1.5 billion in an IPO to fund a highly touted and highly expensive oil & gas exploration campaign in both the Amazon and offshore Namibia. Management was very promotional and overpromised and underdelivered. The three exploration wells in Namibia were all failures and the Conclusion of Solimoes Gas Monetization Study leads the market (myself included) to conclude that there is little or no present value in the discoveries in the Solimoes basin. The stock has lost 85% in just the last year, and over 97% in the last three years. Early investors like Southeastern Asset Management have lost most of their money and have either given up or believe the market cap has become too small and insignificant to warrant further examination.

Best Gas Stocks To Invest In Right Now: Bill Barrett Corp (BBG)

Bill Barrett Corporation explores for and develops oil and natural gas in the Rocky Mountain region of the United States. As of December 31, 2011, the Company had four active development programs, including the Gibson Gulch area in the Piceance Basin, the Uinta Oil Program in the Uinta Basin, the West Tavaputs area in the Uinta Basin and, following an acquisition in August 2011, a primarily oil program in the Denver-Julesburg Basin. The Company holds acreage in a number of basins with plans for drilling activity in the Powder River, Southern Alberta, Paradox and San Juan Basins. Among its four key development programs, three of the programs target oil and high British Thermal Unit (BTU) content natural gas that can be processed into natural gas liquids (NGLs), while its exploration program is exclusively focused on oil and high BTU content natural gas. On December 31, 2012, the Company sold its natural gas assets to an affiliate of Vanguard Natural Resources, LLC. In December 2013, Bill Barrett Corp closed its sale of the West Tavaputs natural gas property located in the Uinta Basin, Utah to affiliates of EnerVest, Ltd.

Piceance Basin

The Piceance Basin is located in northwestern Colorado. As of December 31, 2011, its estimated proved reserves was 596 billions of cubic feet equivalents. As of December 31, 2011, the Company had interests in 826 gross (779.8 net) producing wells, and it serves as the operator in 796 gross producing wells. As of December 31, 2011, it held 42,633 net undeveloped acres, including the Cottonwood Gulch prospect. As of December 31, 2011, it was in the process of drilling three gross (three net) wells and waiting to complete 44 gross (44 net) wells within the Piceance Basin.

The Gibson Gulch area is a basin-centered gas play along the north end of the Divide Creek anticline near the eastern limits of the Piceance Basin�� productive Mesaverde (Williams Fork) trend at depths of approximately 7,500 feet. Its natural gas production in this ! basin is gathered through its own gathering system and EnCana Oil & Gas Corporation�� gathering system and delivered to markets through a variety of pipelines, including pipelines owned by Questar Pipeline Company, Northwest Pipeline, Colorado Interstate Gas, TransColorado Pipeline, Wyoming Interstate Gas Company Pipeline and Rockies Express Pipeline LLC. The energy content of its Piceance gas is 1.15 BTU per cubic foot and the natural gas is processed at an Enterprise Products Partners L.P. plant in Meeker, Colorado.

Uinta Basin

The Uinta Basin is located in northeastern Utah. As of December 31, 2011, in West Tavaputs Area, it had the estimated proved reserves was 460.7 billions of cubic feet equivalents. As of December 31, 2011, it had interests in 271 gross (258 net) producing wells, and it serves as the operator in 271 gross producing wells. During the year ended December 31, 2011, the net production was 32 billions of cubic feet equivalents. As of December 31, 2011, it held 22,618 net undeveloped acres, along with 16,119 net acres that are subject to drill-to-earn agreements. As of December 31, 2011, it was in the process of drilling one gross (one net) well and waiting to complete 17 gross (12.5 net) wells.

The Company serves as operator of its interests in the West Tavaputs Area. As of December 31, 2011, it had identified 622 potential drilling locations and 460.7 billions of cubic feet equivalents of estimated proved reserves with a weighted average working interest of 96%. The Company is actively drilling its shallow program, which targets the gas-productive sands of the Wasatch and Mesaverde formations at depths down to 7,600 feet on average. The Company drilled 92 wells during the year ended December 31, 2011, and completed 89 wells. Two of the new wells during 2011, targeted the Mancos and Niobrara formations to test these deeper horizons. Additionally, two recompletions were performed on existing wells in the Mancos and Niobrara formations. T runni! ng a one ! rig drilling program to drill and complete wells in the Wasatch and Measverde formations in the West Tavaputs area of the Uinta Basin. Its natural gas production in the West Tavaputs Area is gathered through its own gathering systems and delivered into Questar Pipeline Company and Three Rivers Gathering, LLC. Gas delivered into Questar Pipeline is processed by Questar Transportation Services Company, and gas delivered into Three Rivers Gathering can be processed by QEP Field Services Co and Chipita Processing LLC. Gas can then be marketed through a variety of pipelines including Questar Pipeline Company, Northwest Pipeline, CIG, Ruby Pipeline LLC, Rockies Express Pipeline LLC, and Wyoming Interstate Gas Company Pipeline.

The Uinta Oil Program is a fractured oil play with multiple pay zones. The program consists of three main areas of development, including Blacktail Ridge, Lake Canyon and newly acquired East Bluebell. As of December 31, 2011, it had identified three formations: the Green River, Wasatch and Uteland Butte, with 1,688 potential drilling locations and 172.8 billions of cubic feet equivalents of estimated proved reserves and a weighted average working interest of 54%. The Company is also in the planning stages of selecting 80 acre pilot test areas across the field. It is running a three rig drilling program in the Uinta Oil Program which may be adjusted throughout the year as business conditions and operating results warrant.

The Blacktail Ridge area consists of both vertical and horizontal wells that target the Wasatch, Green River, Uteland Butte and Mahogany formations. At December 31, 2011, it had an acreage position of 23,037 net acres with an additional 16,660 net acres subject to drill-to-earn agreements. Under its exploration and development agreement with the Ute Indian Tribe of the Uintah and Ouray Reservation, (Ute Tribe), and Ute Development Corporation, it serves as operator and has the right to earn a minimum of a 50% working interest in all formation! s. Throug! h December 31, 2011, it had earned 17,588 gross (8,794 net) tribal acres in this area. The Ute Tribe assigned its participation rights pursuant to the exploration and development agreement to Ute Energy Corporation (Ute Energy).

The Lake Canyon area consists of both vertical and horizontal wells that target the Wasatch, Green River, and Uteland Butte formations. At December 31, 2011, it had an acreage position of 21,595 net acres with an additional 44,228 net acres subject to drill-to-earn agreements. Under the amended exploration and development agreement with the Ute Tribe and Ute Development Corporation, it operates the northern block of Lake Canyon (consisting of 19,781 net tribal acres) with a 75% working interest, and its industry partner operates the southern block where it retains a 25% working interest. The agreement also requires the Company and its industry partner to drill at least two wells per year from 2012 through 2015 and an additional 14 wells at some point between 2012 and 2015. Through December 31, 2011, it had earned 10,200 gross (4,640 net) tribal acres in this area. The Ute Tribe assigned its participation rights pursuant to the Lake Canyon amended agreement to Ute Energy.

On June 8, 2011, the Company closed on an acquisition of oil properties and related assets in the Uinta Basin referred to as East Bluebell. The acquired properties, which consist of 20,413 net acres, are located approximately 35 miles east-northeast of the Blacktail Ridge and Lake Canyon projects with a mixture of fee, state, federal and tribal minerals both unitized and non-unitized. Three federal units exist within the acquired leasehold, Aurora Unit, Ouray Valley Unit and Roosevelt Unit. Also included in the acquisition was associated gathering and transportation infrastructure.

Denver-Julesburg Basin

The Denver-Julesburg Basin (DJ Basin) is located in Colorado�� eastern plains and parts of southern Wyoming, western Kansas and western Nebraska. As of D! ecember 3! 1, 2011, its estimated proved reserves were 41.1 billions of cubic feet equivalents. As of December 31, 2011, it had interests in 216 gross (156.6 net) producing wells, and it serves as operator in 148 gross wells. As of December 31, 2011, the Company held 52,075 net undeveloped acres. As of December 31, 2011, it was in the process of drilling one gross (one net) well and waiting to complete two gross (two net) wells within the DJ Basin. The main oil and gas formations being targeted in the DJ Basin are the tight Muddy J Sandstone, Codell Sandstone and the Niobrara.

On August 16, 2011, it closed on an acquisition of oil and gas properties in the DJ Basin. This acquisition included approximately 26,416 gross (17,074 net) development and exploratory acreage in the Niobrara oil play in the Borie, Chalk Bluffs and Briggsdale prospect areas of Laramie County, Wyoming and Weld County, Colorado. With the acquisition, it also obtained operatorship of 126 producing wells and an interest in another 60 non-operated wells. The Company acquired another 21,903 gross acres (14,800 net) in the Niobrara oil and gas play in the Greater Wattenberg Area of Weld and Adams Counties in Colorado. The Company is running a one rig drilling program to drill and complete horizontal wells targeting oil in the Niobrara formation in the DJ Basin.

Powder River Basin

The Powder River Basin is primarily located in northeastern Wyoming. Its development operations are conducted in its coalbed methane (CBM) fields along with a Powder River Deep Program targeting oil. As of December 31, 2011, its estimated proved reserves were 55.7 billions of cubic feet equivalents. As of December 31, 2011, it had interests in 742 gross (472 net) producing wells and it serves as operator in 580 gross wells. As of December 31, 2011, it held 45,652 net undeveloped acres. During 2011, the Company�� net production was 13.2 billions of cubic feet equivalents. As of December 31, 2011, the Company was not in the process of! drilling! or completing any CBM wells within the Powder River Basin. Coalbed methane wells are drilled to 1,200 feet on average, targeting the Big George Coals. Its natural gas production in this basin is gathered through gathering and pipeline systems owned by Fort Union Gas Gathering, LLC and Thunder Creek Gas Services.

The Company�� Powder River Deep Program consists of vertical and horizontal wells targeting various Cretaceaous oil bearing horizons, including the Parkman, Sussex, Shannon, Niobrara, Turner and Frontier formations. The Company also has an interest in an active Parkman waterflood. At December 31, 2011, it had an interest in 51 gross (10.7 net) producing wells with estimated net proved reserves of three billions of cubic feet equivalents, and it serve as operator in seven gross wells. The Company has increased its net acreage position to 27,201 net acres throughout 2011, along with 11,141 net acres that are subject to drill-to-earn agreements.

Wind River Basin

The Wind River Basin is located in central Wyoming. The Company�� activities are concentrated primarily in the eastern Wind River Basin, along the greater Waltman Arch, where it generally serves as operator. In addition, it has a number of exploration projects, some of which are in areas of the Wind River Basin where it has no existing development operations. As of December 31, 2011, its Estimated proved reserves was 35.2 billions of cubic feet equivalents. As of December 31, 2011, the Company had interests in 152 gross (144.3 net) producing wells, and it serves as operator in 148 gross wells. During 2011, its net production was 5.3 billions of cubic feet equivalents. As of December 31, 2011, it held 180,273 net undeveloped acres. As of December 31, 2011, it was not in the process of drilling or completing wells within the Wind River Basin. its natural gas production in this basin is gathered through its own gathering systems and delivered to markets through pipelines owned by Kinder Morgan Inte! rstate (K! MI) and Colorado Interstate Gas (CIG).

Paradox Basin

The Paradox Basin is located in southwestern Colorado and southeastern Utah. As of December 31, 2011, it had interests in six gross (5.9 net) producing, or capable of producing, wells, and it serves as operator in six gross wells. As of December 31, 2011, it held 365,988 net undeveloped acres. As of December 31, 2011, the Company was not in the process of drilling or completing wells within the Paradox Basin. Its Paradox Basin prospect targets oil, natural gas and associated natural gas liquids from the Gothic and Hovenweep shales at average vertical depths of 5,800 and 5,700 feet, respectively. Through December 31, 2011, it had drilled four exploratory vertical wells to gather rock property data and nine horizontal well bores in the Gothic shale. Six of the horizontal wells were on production at various times in 2011, of which two have continually produced from inception and thus far exhibit flat decline curves. It serves as operator in this area where it has a working interest of approximately 100%.

Advisors' Opinion:

• [By Yoshiaki Nohara]

  Man Wah Holdings Ltd. (1999), a furniture maker that gets 51 percent of its sales in the U.S., gained 9.2 percent in Hong Kong. Daiwa Securities Group Inc., Japan�� second-largest brokerage, rebounded 12 percent after slumping yesterday. Billabong International Ltd. (BBG), the Australian surfwear company that has breached debt-payment terms, plunged 49 percent after takeover talks with two suitors ended.

• [By Rich Smith]

  Denver.-based Bill Barrett Corp. (NYSE: BBG  ) is under new management. The oil and gas developer announced Wednesday that it has confirmed interim Chief Executive Officer R. Scot Woodall as its new permanent president and CEO. The appointment took effect Tuesday.

• [By Jake L'Ecuyer]

  Bill Barrett (NYSE: BBG) was also down, falling 16.07 percent to $23.24 after the company lowered its guidance after the close Tuesday.

  Commodities
  In commodity news, oil traded up 0.16 percent to $97.35, while gold traded up 0.59 percent to $1,258.60.

• [By Seth Jayson]

  Bill Barrett (NYSE: BBG  ) reported earnings on May 2. Here are the numbers you need to know.

  The 10-second takeaway
  For the quarter ended March 31 (Q1), Bill Barrett missed estimates on revenues and missed expectations on earnings per share.