--(www.USEquityNews.com)-- 06/30/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Shares of oil drilling contractor Atwood Oceanics Inc. (NYSE: ATW) set an all-time high Thursday, as the price of oil soared and after a Credit Suisse analyst upgraded the stock a day earlier. The stock rose 63 cents to $111.27, after hitting $114.60 earlier in the session. Meanwhile, oil futures shot up to nearly $139 a barrel following comments from OPEC's president, who said oil prices may soar above $150 a barrel in 2008. Also, Libya may cut oil production. On Wednesday, shares of Atwood were upgraded by Credit Suisse analyst Arun Jayaram to "Neutral" from "Underperform" following news of a contract.
Pioneer Drilling Company (AMEX: PDC) announced recently that it has been notified by the American Stock Exchange ("AMEX") that AMEX has accepted the Company's plan to regain compliance with the AMEX continued listing standards and that the Company's listing will be continued pursuant to an extension. The Company previously submitted a plan to AMEX outlining its ability to regain compliance with the AMEX continued listing standards. This plan was prepared in response to a letter from AMEX advising the Company that, as a result of the Company's failure to timely file its quarterly report on Form 10-Q for the quarter ended March 31, 2008, the Company is not in compliance with the AMEX continued listing standards.
Cheniere Energy, Inc. (AMEX: LNG) announced recently that its marketing subsidiary, Cheniere Marketing, Inc., has entered into a domestic marketing agreement for the sale of liquefied natural gas, or LNG, with J.P. Morgan Ventures Energy Corporation "JPMorgan", a wholly owned subsidiary of JPMorgan Chase & Co. The agreement provides a framework under which Cheniere Marketing sells to JPMorgan LNG it acquires on delivery to the Sabine Pass Terminal, located in southwest Louisiana. Additionally, JPMorgan will acquire a portion of Cheniere Marketing's capacity for storage and regasification services for the LNG that JPMorgan purchases. JPMorgan Chase & Co, has guaranteed all of JPMorgan's obligations under this agreement.
Holloman Energy Corporation (OTCBB: HENC) (``the Company'' or ``HENC''), through its Chairman, Mark Stevenson, is pleased to announce that John Crosby has agreed to join the Holloman Energy team. As can be seen from the short bio below, he is a perfect match for Holloman Energy Corp. ``Holloman's invitation to join its talented International team to assist in its focus on Australia comes at a time when oil and gas issues are vital and interest is high in its large and well placed acreage portfolio. Thus the invitation to assist in guiding them in my Country is enthusiastically accepted,'' said Crosby. For a full report visit www.stocksjournal.com
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