The Indonesian government predicts state revenue from the oil and gas industry will miss its target for the first time in three years, citing worse-than-forecasted global oil price and output shortfalls. Oil and gas revenue of $33.48 billion is predicted in the 2012 revised budget. That assumes that the nation’s oil output can reach an average of 930,000 barrels per day and that the average crude oil price floats at $105 per barrel.
In other news, the North America Prospect Expo or NAPE Expo, which has been held in Houston for over 20 years is inviting oil and gas industry leaders and experts to come together in its Business Conference scheduled to be held Wednesday, August 22, 2012 during Summer NAPE Expo. Theme for this year, “The Great Conundrum: Navigating Divergent Oil and Gas Markets,” will include concerns in water management, current gas markets, and technology to improve resource recoveries.
Nabors Industries Ltd. (NYSE:NBR)
Nabors Industries (NBR) posted its quarterly earnings results on Tuesday. The company`s revenue for the quarter moved up 18.9% on a year-over-year basis. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus of $0.39 by $0.01.
[article_detail_ad_1]Nabors Industries Ltd. (NYSE:NBR) plunged -4.42% and closed at $13.40 with the total traded volume of 11.41 million shares beating the average volume of 7.93 million. NBR gained 3.14%return on assets, 6.90% return on equity and its return on investments was 3.71%.
SandRidge Energy Inc. (NYSE:SD)
SandRidge Energy Inc. (NYSE:SD) declined -0.47% with the closing price of $6.33. The overall volume in the last trading session was 8.63 million shares. Its fifty two week range was $4.55-$12.36. The total market capitalization remained $3.10 billion.
Other statistics show that SD is ahead its 52 week low with 39.12% and its last month price volatility remained 3.69%. Its beta coefficient was 2.10 with a target price of $9.89. In its share capital NBR has 489.89 million outstanding shares while 337.20 million shares have been floated in market. Company’s current year earnings per share grew with 7.40% while the five year EPS growth rate was +12.65%.
Petroleo Brasileiro SA (ADR) (NYSE:PBR)
Petroleo Brasileiro SA (ADR) (NYSE:PBR) moved up +1.01% to close at $19.02 and its total volume during last trading session was 7.90 million shares. Petroleo Brasileiro S.A. primarily engages in oil and natural gas exploration and production, refining, trade, and transportation businesses.
Stock price 52 week high was $35.10 and 52 week low price was $17.27. PBR has market capitalization of 124.05 billion while its total outstanding shares are 6.52 billion.