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.