60 Billion Barrels for Encana (NYSE:ECA)
Encana (NYSE:ECA) and Triangle (NYSE:TPLM) in Focus
- Triangle Petroleum Corporation (NYSE:TPLM) is up about 6% in pre-market after beating on revenues by $0.05. TPLM is an oil & gas play operating in the Bakken. Canaccord Genuity has a $9.00 price target on the stock, and Imperial Capital has a $5.50 price target. These price targets were issued last month, so it'll be interesting to see if there are any upgrades today.
- Exide Technologies (NASDAQ:XIDE), the once very exciting car and truck battery company has filed for bankruptcy protection. According to a court filing, as of March 31, the company had $1.9 billion in assets and $1.1 billion in liabilities. Exide's down 35% in pre-market at $0.13. In September, 2011, the stock was trading above $7.00 a share.
- Looking for some emerging oil plays? Look no further than the Mancos Shale, where Encana (NYSE:ECA) is looking to tap 60 billion barrels. Just 10 percent of that is nearly as much oil coming out of the Bakken. You can read more about the Mancos Shale here.
Energy Demand will Increase 58% Over the Next 25 Years
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