Baltimore — (TFN): Some good friends of mine recently took their TV out to their front yard, put two high-brass shells in their 12 gauge and pulled the trigger.  They rendered the hunk of glass and plastic useless. Called it Alaskan waste disposal.

After last night, I’m ready to get out the 00 buckshot, myself.

I’ve got my eye out for good intentions, gone bad after spending the last three editions of Notes discussing the idea of financial regulatory reform.

During 52-mile commute home yesterday, they were all over the place, anything from idiotic signs to a couple of state cops setting a trap and writing tickets for not moving to the left lane when passing a stopped emergency vehicle.

The gung-ho troopers had rush-hour traffic slowed for over a mile.

But my mind really started spinning when I passed an out-of-state big rig. I could not help but notice the federal and state ID

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EnCana Corporation (ECA) – a major Canadian oil and gas exploration and production (E&P) company – reported weak third quarter results, hit by lower prices and volumes. Operating earnings per share, excluding hedging and foreign exchange effects, came in at $1.03. This fell short of the Zacks Consensus Estimate of $1.11 and way behind the year-ago profit of $1.92.  Revenues were down 64.2% year over year to $3.9 billion. During the quarter, total production was down 7.0% to 4,387 million cubic feet equivalent per day (MMcfe/d), of which 81% was natural gas. Natural gas production decreased roughly 9.3% year-over-year to 3,551 million cubic feet per day (MMcf/d), while oil and natural gas liquids (NGLs) production was up 3.7% to 139 thousand barrels per day (MBbls/d).  Key Resource Plays  Production of natural gas from key resource plays was down approximately 6.5% year-over-year to 3,410 MMcfe/d, primarily ...

Dejour Enterprises, Ltd. (DEJ) reported a loss of $0.03 Canadian (or CAD) per share for the quarter ended September 30, 2009, which was below our expectations of a loss of CAD 0.02 per share. The difference was primarily attributable to shut-in gas, which substantially exceeded our expectations. Natural gas prices have recovered from their summer lows and now are in the range of US$4.00 to US$5.00 per Mcf. As a result, management is restoring a substantial portion of its productive capacity. In the fourth quarter, with gas sales rebounding, the company’s results should improve substantially. We reaffirm our Neutral rating and 12-month price target of US$1.01, based on expected improvements in gas sales volumes and winter drilling for crude oil resources scheduled by the company in British Columbia.Read the full analyst report on "DEJ"Zacks Investment Research

QualityStocks today announces that its audio interview with Royal Energy, Inc. (NASDAQ: ROYL) CEO Don Hosmer is now available. The complete interview can be heard at http://www.qualitystocks.net/videocharts.php?chartvid_id=357.

During the interview, Mr. Hosmer provides an overview of the company, its targeted industry and competitors, a view on future natural gas prices, milestones achieved this year as well as plans for the future. He also provided commentary on the recently discovered natural gas field and the development opportunities it holds.

Mr. Hosmer stated, “During the down cycle we were able to cut costs quickly and survive during the lowest part of the cycle. Now with the price of natural gas rising as well as the recent field discovery, we’re in a perfect position to capitalize on the future of natural gas.”

Let us hear your thoughts below:

We are upgrading our recommendation on the shares of Loews Corp. (L) to Neutral. The company’s third-quarter earnings of $1.08 per share was well ahead of the Zacks Consensus Estimate of 87 cents a share. Loews reported a loss of 33 cents a share in the year-ago quarter.   The improved earnings were driven by increased investment income and a considerable reduction in investment losses at CNA Financial Corp. (CNA), besides strong results at Diamond Offshore Drilling Inc. (DO).    While the spin-off of Lorillard in 2008 eliminated the company’s overhang of tobacco litigation and the strong rebound in investment income is impressive, we think that the continuation of a stressed economic environment will have a restrictive effect on the top-line growth of the company.   The recent financial market appreciation bodes well for Loews. Both the holding company as well as the subsidiary, CNA, has experienced

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Canadian energy explorer Talisman Energy Inc. (TLM) reported marginally better-than-expected third quarter results, helped by in-line production volumes. Earnings per share from continuing operations, excluding one-time items came in at 15 Canadian cents (14 cents), a penny above the Zacks Consensus Estimate. However, on a year-over-year basis, Talisman’s adjusted earnings per share slumped approximately 77%, while revenues declined 42.3% to C$1.5 billion, hurt by lower prices of oil and natural gas.   Volume Analysis   Production during the quarter was down approximately 9.5% from the year-ago level to 401 thousand barrels of oil equivalent per day (MBOE/d), reflecting asset sales in Western Canada and maintenance downtime.   Oil & liquids production during the quarter was down 16.9% to 192.3 thousand barrels per day (MBbl/d), or 48% of total volumes. Volumes in North America, the U.K., Scandinavia , and other international regions were down 23.4%, 31.2%, 4.4%, and 30.5% ...

Quicksilver Resources Inc. (KWK) posted third quarter 2009 earnings of 25 cents per share, slightly above the Zacks Consensus Estimate of 21 cents. However, results dropped versus last year’s earnings of 40 cents.  Total revenues in the quarter declined 13% year over year to $206.7 million, with net natural gas, natural gas liquids (NGL) and oil sales of $198.3 million (down 9%). Revenues were impacted by decline in the average realized prices for all commodities, offset by increase in production volumes. Total realized prices during the quarter declined 19% to $6.93 per thousand cubic feet of natural gas equivalent (Mcfe). The average realized oil, NGL and natural gas prices in the quarter were $60.55 per barrel, $28.15 per barrel, and $7.69 per thousand cubic feet (Mcf), respectively, down 29%, 48%, and 6% from a year ago.   Total production surged 12% averaging 28.6 billion cubic feet of ...

EOG Resources Inc. (EOG) reported third-quarter earnings of 81 cents per share, compared with the Zacks Consensus Estimate of 65 cents and a year-ago profit of $2.34. Before adjusting one-time items, earnings were 2 cents per share. Despite an increase in production volumes, earnings were down from the year-earlier level due primarily to significantly lower commodity price realizations.

Total volumes during the quarter increased approximately 4% year-over-year to 195.9 billion cubic feet equivalent (Bcfe), or 2,129 million cubic feet equivalent per day (MMcfe/d), 76% of which was natural gas and 24% liquids. Natural gas volumes decreased 3% year-over-year, led by an approximately 6% decrease in the U.S. volumes to 1,128 MMcf/d, and more than 2% decrease in Canadian volumes to 219 MMcf/d.

Crude oil and condensate production during the quarter was 59.5 thousand barrels per day (MBbl/d), up nearly 23% from the year-ago level. This was primarily driven by a

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Statoil ASA (STO) reported its third quarter results of 38 cents per share, compared to the Zacks Consensus Estimate of 40 cents and in line with the year-earlier quarter earnings. Revenue for the quarter was NOK 123.1 billion ($20.1 billion), down 29% year over year.  Though the company’s results were hurt by lower commodity prices, Statoil continues to maintain a high activity level both in Norway and internationally. Equity and entitlement productions were up 8% and 10% year over year, respectively, with the start-up of operations on several new oil and gas fields such as Tyrihans in the Norwegian Sea, Tune Sor in the North Sea and Thunder Hawk in the Gulf of Mexico.  Total oil and gas entitlement production during the quarter averaged 1.71 million barrels of oil equivalent per day (MMBOE/d), 62% of which was oil and 38% natural gas, compared to 1.55 MMBOE/d ...

OUTLOOK The improving economic scene, both here in the U.S. as well as worldwide, is the main driver of the current oil rally that has seen the commodity settling around the $80 per barrel level. But high levels of product inventories (particularly gasoline), along with still higher supplies, will limit any sustained crude gains, in our view. But way too many factors weigh on oil prices, from OPEC decisions and geostrategic tensions to the value of the U.S. dollar and seasonal variables, to definitively size up each one of them for their respective impact on prices.  In its latest release, the Energy Information Administration (EIA) reported a less-than-anticipated increase in crude stockpiles, which rose by 800,000 barrels for the week ending October 23. However, current crude oil stocks, at 339.9 million barrels, still remain 9% above the year-earlier level as well as above the upper limit ...