5 Energy Stocks in Focus

Kodiak Oil & Gas Corp. (AMEX: KOG) recently announced the upsizing and pricing of its previously announced underwritten public offering of common stock.  The size of the offering has been increased from 20,000,000 shares of common stock to 25,000,000 shares of common stock at a public offering price of $5.50 per share. The company plans to use the net proceeds of the offering to repay debt outstanding under its revolving credit facility, to fund capital expenditures related to drilling, development and infrastructure, principally in the Bakken play located in North Dakota, and for general corporate purposes, including financing the potential acquisition of oil and gas properties in certain core areas, such as the Bakken play. Kodiak Oil & Gas Corp. focuses on the exploration, exploitation, acquisition and production of natural gas and crude oil in the United States. Northern Oil & Gas Inc. (AMEX: NOG) recently announced completion of the sale of 8,950,000 shares of its common stock and that the underwriters exercised their over-allotment option to purchase an additional 1,342,500 shares of Northern Oil’s common stock in full.  Following the completion, the company has issued a total of 10,292,500 shares of its common stock.  The net proceeds from the offering are approximately $200.1 million after deducting underwriters discounts. Northern Oil & Gas engages in the acquisition, exploration, exploitation and development of oil and natural gas properties. Warren Resources Inc. (NASDAQ: WRES) recently announced its third quarter financial results, with net revenues at $23.1 million, an increase of 41% as compared to $16.4 million in the comparable period previous year. This increase was primarily due to increased production and higher realized sales prices for oil and gas in this quarter as compared to the comparable period previous year. The oil and gas production for this quarter increased 20% to a record 2.8 billion cubic feet equivalent as compared to 2.4 billion cubic feet in the comparable period previous year. In this quarter, the company produced 265,000 net barrels of oil and 1.3 billion cubic feet of natural gas as compared to 226,000 net barrels of oil and 1.0 billion cubic feet of natural gas in the comparable period previous year. The company reported net income of $4.3 million for this quarter or $0.06 per diluted share as compared to net income of $2.2 million for the comparable period previous year, or $0.04 per diluted share. The net income for this quarter decreased by a non-cash, mark-to-market derivative loss of $2.4 million, or $0.03 per diluted share. Warren engages in the exploration and development of domestic onshore oil and gas reserves. GeoResources Inc. (NASDAQ: GEOI) recently announced its third quarter financial results, with net revenues at $26.9 million as compared to $22.9 million in the comparable period previous year. The company reported net income of $7.6 million for this quarter or $0.38 per diluted share as compared to net income of $3.4 million for the comparable period previous year, or $0.21 per diluted share. This quarter benefited from both increased production and from improved oil and gas prices. GeoResources engages in the acquisition and development of oil and gas reserves through an active and diversified program. Resolute Energy Corp (NYSE: REN) recently announced its third quarter financial results, 2010, with adjusted revenues at $41.0 million including the effect of realized losses on derivatives of $0.8 million as compared to f $35.5 million for the comparable period previous year. The company recorded a net loss of $7.1 million, or $(0.14) per diluted share as compared to a net loss of $21.4 million, or $(0.43) per share in the comparable period previous year. The production for this quarter end was 702 thousand Boe ("MBoe") as compared to 684 MBoe for The comparable period previous year. Resolute engages in the exploration, exploitation and development of its oil and gas properties located in Utah, Wyoming, North Dakota and properties in Alabama and Oklahoma. Disclosure: This corporate profile is provided for information purposes only and should not be used as the basis for any investment decision. We are neither licensed nor qualified to provide investment advice. We were not paid, nor do we hold a position in these stocks. We reserve the right to buy or sell KOG, NOG, WRES, GEOI and REN at any time after this post.
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