Energy Firms Collaborate, Install Solar Storage Systems in Georgia

Source: Streetwise Reports 01/17/2019 This firm’s energy storage units are being used to solarize the region. Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced in a news release that it and Creative Solar installed more than 20 residential energy storage systems, now commissioned, in Georgia’s Greater Atlanta and Carroll County as part of the efforts to maximize solar power use in those geographical areas. The efforts began with Creative Solar, the chosen installer for the solarize campaign, contracting more than 170 photovoltaic installations there, amounting to 1.2-plus megawatts of power. “As part of the initial roll out two dozen Eguana Evolve Energy Storage systems were selected by Georgia homeowners as their battery system of choice,” the company stated. Throughout the process, Eguana delivered web-based and on-site training as well as installation and promotional support. “We expect demand for residential and commercial energy storage to continue to rise in 2019 and have follow-up orders placed with Eguana to continue to have the Evolve system available to homeowners,” Creative Solar’s CEO Russell Seifert said in the release. One of those orders is for 400 kilowatt hours of power. “We are very pleased with Creative Solar USA’s ability to sell energy storage systems in this developing market demonstrating the potential for widespread adoption of residential energy storage solutions across North America,” said Livio Filice, Director of Residential Sales, North America. “Looking forward, we have agreed to continue our strong relationship into 2019, backed with a 400 KWh order placed by Creative Solar USA to support … Continue reading

Oil & Gas Firm Reaches Total Depth at Maiden Horizontal Well in the San Andres

Source: Streetwise Reports 01/17/2019 The next step for this energy company is completion of the most ideal sections. Amazing Energy Oil & Gas Co. (AMAZ:OTCQX) announced in a news release it reached total depth of 3,850 feet at WWJD #31H, its first horizontal well in Texas’ San Andres Formation, and is now moving into the completion stage. WWJD #31H is a 1,547-foot section that extends horizontally from the previously drilled vertical wellbore. During drilling of WWJD #31H, Amazing ran multiple logs, including “a quad combo,” noted the release. After reaching total depth, it set casing and dismissed the drill rig. The next step is to send all log results, “including original Halliburton RockVision logs and cores,” to the fracking contractor to determine the best sections to complete and stimulate and the most effective approach. Amazing will announce the completion results once they are ready. “The successful drilling, testing and completion from the prolific San Andres Formation are huge milestones for us and should be the bellwether for our near-term development plans and growth,” CEO Will McAndrew said in the release. Sign up for our FREE newsletter at: Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this … Continue reading

Target Price Raised on U.S. Oil & Gas Company on 'Positive Q4 Ops Update'

Source: Streetwise Reports 01/15/2019 A Raymond James report reviewed the Q4/18 numbers and its 2019 projections. In a Jan. 10 research note, analyst John Freeman reported that Raymond James increased its target price on Chesapeake Energy Corp. (CHK:NYSE) to $4 per share from $3.50 following reports of a positive Q4/18 and accounting for the Wildhorse acquisition in its model. The stock’s current share price is about $2.84. Freeman noted that Q4/18 figures beat expectations primarily on lower-than-expected capex. Spending for Q4 should be around $545 million, lower than consensus’ projection of $597 million and Raymond James’ estimate of $629 million. As for production during Q4/18, management said it should range from 462,000 to 464,000 barrels of oil equivalent per day (Mboe/d), with oil volumes between 86 and 87 million barrels per day (Mbpd). The latter compares to the Street’s estimate of 85 Mbpd and Raymond James’ forecast of 86 Mbpd. Freeman relayed that in 2019, Chesapeake plans to reduce activity due to commodity price weakness. It will eliminate three rigs in the Haynesville play, taking the total number of rigs on all of its properties to 18. “We believe this is a prudent measure that, given our capital spending outlook for 2019, should help to lower cash flow outspend to a palatable level while allowing Chesapeake to continue its pivot to a more oily operator (oil cut should rise from 17% in 2018 to about 30% in 2020),” wrote Freeman. Raymond James estimates Chesapeake’s oil production will be about 122,000 … Continue reading

Solar Energy Solutions Firm Awarded Contract for New York Installation

Source: Streetwise Reports 01/13/2019 This project will be in the form of a community-distributed generation model. UGE International Ltd. (UGE:TSX.V; UGEIF:OTC) signed a contract to develop a community solar power project on New York’s Staten Island, it announced in a news release. How this type of project works is UGE pays rent to a building owner for roof space on which UGE installs a solar power generation system. The energy created is then sold to community members at a price lower than the current utility rate. UGE will install the Staten Island project on the roof of a family-owned kitchen cabinetry business. “At 304 kilowatts, the project’s value exceeds $600,000,” the release noted. Read what other experts are saying about: UGE International Ltd. Sign up for our FREE newsletter at: Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are sponsors of Streetwise Reports: UGE International. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The … Continue reading

Oil & Gas Firm Revamps 2019 Guidance, Resulting in 'More Moderate Production Outlook'

Source: Streetwise Reports 01/11/2019 Changes to this Colorado-based company’s 2019 projections were reviewed in a Stifel report. In a Jan. 8 research note, analyst Jane Trotsenko reported that Antero Resources Corp. (AR:NYSE) revised its 2019 guidance to reflect a more dour outlook, lowering expected production and raising cash costs and marketing expenses. As for projected commodity prices for 2019, the company decreased projection for natural gas liquids (NGL) as a percent of West Texas Intermediate to 62.5% from 72%. It increased the anticipated differential for crude oil prices to $7.50 per barrel from $5.50. Trotsenko explained that less favorable NGL pricing looking forward led the company to lower its expected 2019 production by 3% to 3.2 billion of cubic feet equivalent per day from 3.3 at the midpoint. In 2019 versus 2018, Antero’s NGL production is forecasted to increase 28% year whereas crude oil production is expected to decrease 5%, ultimately resulting in a “slightly higher amount of revenue in 2019 than in 2018,” the analyst wrote. Regarding capex in 2019, Antero guides to about $2 billion, consistent with that of 2018. However, Trotsenko commented, “the company plans to continue to focus on liquids-rich assets, as those still deliver stronger economics despite the recent decline in liquids pricing.” Not all the news is negative, Trotsenko indicated. For one, Antero expects to garner a greater premium to Henry Hub pricing, $0.15–0.20 per million cubic feet as opposed to its previous $0.00–0.10 per million cubic feet, due to its now greater Gulf … Continue reading

Sand Producer to Halt Distribution on Weakening Market Conditions

Source: Streetwise Reports 01/10/2019 The reasons behind the oilfield services company’s move, along with projections for 2019, are explored in a Raymond James research report. In a Jan. 7 research note, Raymond James analyst J. Marshall Adkins reported Hi-Crush Partners L.P. (HCLP:NYSE) decided to suspend its quarterly distribution, likely long term, due to the decreased volumes and price deterioration it is experiencing along with oil price uncertainty. The drop in the company’s volumes was 25% in Q4/18 compared to Q3/18, lower than expected. It is attributed to a reduction in the number of completions due to a declining oil price, operators maxing out their year’s budget and a resulting “significant” sand oversupply, Adkins explained. “One of the more significant investor concerns regarding Hi-Crush has been the potential for contracts to be renegotiated during the current bout of weakness,” he added. For example, management is currently renegotiating its Kermit mine contracts. With margins per ton falling by about $20 per ton at Kermit, sales of Kermit sand will yield about $96 million of EBITDA in 2019, Raymond James estimates. As for the future direction of Hi-Crush’s Northern White sand margins, it remains unclear, Adkins noted. On one hand, they are decreasing due to the overall slowing. Raymond James forecasts less overall Northern White tonnage this year, at 5.6 million tons compared to 7.4 million in 2018. “Overall, we currently model in-basin sand pricing falling about 20% in 2019 year over year, compared to a roughly 40% drop in Northern White pricing,” … Continue reading

Cobalt Company Finds Way to Boost Production, Improve Project Economics

Source: Streetwise Reports 01/10/2019 The implications of efforts to improve production for this pure play are discussed in a Canaccord Genuity report. In a Jan. 2 research note analyst Eric Zaunscherb reported that eCobalt Solutions Inc. (ECS:TSX; ECSIF:OTCQX; ECO:FSE), while working on an optimized feasibility study for its Idaho Cobalt Project, “identified an opportunity to increase its targeted production rate by 50% from 800 tons per day to 1,200 tons per day.” He pointed out that “this increase in production should also offer greater cobalt production earlier in the mine life and an increase in cash flow at the beginning of the mine life.” The extra effort needed to boost the production rate will delay delivery of the feasibility study by “several months,” which investors may be unhappy with, but it is “worth a more robust Idaho Cobalt Project,” Zaunscherb noted. “The work being done by new president Michael Callahan and his growing technical team is essential to getting this project ‘right’ from a technical and financial perspective. So be it.” Those additional required tasks include modifying the mining sequence, timeline and cost, and conducting necessary engineering for a mill expansion, both to accommodate the higher production level. The company will also need to get quotes to determine feasibility study level costs and define concentrate specifics that will be commercially competitive for offtake agreements. Additional permits for any of this are not needed. Management said the delay should not affect the timeline for reaching full production, which Canaccord Genuity estimates … Continue reading

Lithium Explorer Expands North Carolina Properties by More Than 600 Acres

Source: Streetwise Reports 01/10/2019 A lithium-focused company adds land at its major projects and submits permit applications. Piedmont Lithium Ltd. (PLL:NASDAQ; PLL:ASX), a lithium-focused energy company, recently announced that it has increased its exploration land position, bringing it to a total of 1,383 acres. The company’s flagship project is the Piedmont Lithium Project in North Carolina. Piedmont Lithium’s goal is to become “a strategic domestic supplier of lithium to the increasing electric vehicle and battery storage markets in the U.S.” According to management, the property expansion highlights are as follows: Properties within the Carolina Tin Spodumene Belt (122 acres). Preferred locations for its concentrator and mine infrastructure (49 acres). Land position at Piedmont Lithium Project increased by 15% to 1,383 acres. Core Property expanded by 93 acres or 18% to a total of 622 acres. Contiguous land acquisitions are along strike. Mineral resource drill targets are being finalized and will be incorporated in upcoming Phase 4 Drill Program. All deals structured as options or deferred purchases to minimize upfront cash outlay. In the map below, the navy blue areas reflect the Piedmont Lithium project. The red areas represent the company’s new land holdings. Source: Piedmont Lithium In additional to the expansion, Piedmont Lithium also controls a 60-acre parcel in Kings Mountain, North Carolina, for the site of its planned chemical plant. “Piedmont is ideally positioned to deliver leverage on rising lithium prices.” – Brien Lundin, Gold Newsletter President and CEO Keith Phillips said, “We continue to pursue our strategy of … Continue reading

Energy Company Produces Vanadium Concentrate in Utah

Source: Streetwise Reports 01/07/2019 This miner discussed 2019 plans for its vanadium and uranium projects. This month, Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) produced its first vanadium concentrate, or black flake, from the tailings pond solution at its White Mesa mill, it announced in a news release. “We are extremely pleased with the quality and purity of our initial batches of finished vanadium product,” which should meet or exceed the requirements of potential buyers, President and CEO Mark Chalmers said in the release. After ramping up vanadium production during Q1/19, the company aims to reach full production of 200,000–225,000 pounds of vanadium by quarter’s end, provided the efforts remain economically viable. In other news, Energy Fuels plans this year to institute $4.2 million worth of programs at its various projects in preparation for boosting uranium production once the market for the element improves. These initiatives include continuing test mining at La Sal and potentially starting the same at the Pandora mine there, too, with the goal of determining the best mining method for selectively targeting areas of high-grade vanadium. The company will provide an update on the test mining in Q1/19 and a decision on whether or not it will expand the program. At its Nichols Ranch in situ recovery plant, the miner will “install new ion exchange capacity” and upgrade other equipment to increase flow and decrease costs, according to the release. At Alta Mesa, Energy Fuels plans a 200-hole surface drilling program to update and grow the uranium resources … Continue reading

Oil & Gas Company Spuds Orogrande Basin Well to Test Geologic Theory

Source: Streetwise Reports 01/07/2019 The energy firm explained how drilling will proceed. Torchlight Energy Resources Inc. (TRCH:NASDAQ) started drilling the University Maverick A24 #1 well in the Orogrande Basin, it announced in a news release. The driller is Wolfbone Properties, and the operator is Maverick Operating. The purpose of drilling the A24 #1 well is to vertically test Torchlight geologist Rich Masterson’s theory that a structural high, or four-way, trap could exist, which if present, would translate to excellent pay opportunities in the deeper, conventional zones. If the theory bears out, once unconformity is reached at the height of the Penn silt, drilling will continue through it, “down into potential conventional zones deeper than the Penn Formation,” the release noted. In that case, the well could be drilled to an estimated depth of as much as 7,500 feet. If the theory does not hold up, in other words A24 #1 proves to not be structurally high, drilling will be completed in the Penn section, “providing for completion potential in that formation and shallower Wolfcamp zones,” according to the release. While A24 #1 is being drilled, Torchlight will also begin testing the previously drilled A39 #1 and A11 #2 wells, both of which showed “excellent oil zones,” the release noted. Read what other experts are saying about: Torchlight Energy Resources Inc. Sign up for our FREE newsletter at: Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She … Continue reading