Chicago Bridge & Iron Company NV (CBI) reported net income of $40.8 million, or 42 cents per diluted share, for the third quarter of 2009, compared with $8.6 million, or 9 cents per diluted share, in the third quarter of 2008. This was higher than Zacks Consensus Estimate of 38 cents per share. Revenue for the quarter was $1.0 billion compared with third quarter 2008 revenue of $1.6 billion.  New awards for the reported quarter totaled $1.6 billion, including CB&I’s $550 million Gorgon LNG contract in Australia and the $530 million GASCO award in Abu Dhabi. With less work, the company cut sales-related costs 39%, although overhead shrank by a more modest 12%.  Earlier, the company had announced that it has agreed to buy hydrogen-management technology from H2Gen Innovations Inc. in order to get hold of the Mars modularized Pressure Swing Adsorption (PSA) technology. H2Gen's PSA technology ...

Mining will keep economy growing Need to increase production Prices may fall but demand will be strong

 

THE mining boom will help keep Australia’s economy from falling into a hole until at least 2013, a report suggests.

Economic forecaster BIS Shrapnel said record levels of mining investment together with a ramp-up in production will insulate the economy from recession for the next five years - even with commodity prices tipped to fall.

“We didn’t really do enough investment, with the benefit of hindsight, through the 1990s to gear ourselves up for maintaining strong growth in mineral output and what we’re trying to do now is catch up,” said Adrian Hart, senior manager of BIS Shrapnel’s mining unit.

“The next five years will all be about increasing production to meet demand from China and other emerging economies . . . and once that production comes on stream that will drive weaker prices for a lot of commodities.”

The

...

There is more than one way to make a profit on a fast moving segment of the market, if you are nimble enough. In some markets, everything is a matter of paper and delegation regardless of the product. Yes, the product still needs to make it to market, but there is always a contract behind that as well. All the company needs to do is make sure that the right paper is in the right place and hands at the right time. Make sure all the signatures are correct for your deal and a nice check can easily end-up in a company’s pocket.

Coastal Caribbean Oil & Minerals Inc. Ltd., a development stage oil and gas lease administrator, controls large sections of oil and gas leases in Montana and North Dakota. Through a series of ventures and individually struck deals, the company effectively administers well over 120,000 acres of oil and

...

Shares of Heartland Oil & Gas exploded in value this morning after the company released some promising news regarding its latest project. The price of company stock hit $0.021 (up from $0.015) on more than 75 million shares traded, marking its highest point since the second week of May.

The release pertained to successful pressure tests conducted on the company’s four-mile methane pipeline in Southeast Kansas, expected to double Heartland’s production in the region upon completion.

“We put the necessary pressure into the pipeline and found no leaks along its entire length,” said Augie Soto, COO of Aztec Well Services, Heartland’s contractor on the project, “The four road crossings and 2 creek crossings were our greatest concern and they held without any problems. The 8 inch main is tied into the 12 inch main and the pipeline is secure all the way to the sales meter. We will begin installation

...

Based in Bel Air, California, Emvelco is an emerging company focused on oil and natural gas exploration and development. Started in 2008, their principal strategy is to acquire rights to drill key land positions in major oil and natural gas basins, which have large, seismically-defined prospects near existing significant oil or gas production.

Emvelco acquired rights to drill at least 86 wells in Crocket County TX. These are infield drilling wells with negligible “dry hole” risk. 48 of the well locations are already classified as “proved undeveloped” or “PUD” by independent engineers – which means they should provide an opportunity for gas extraction. Four of these wells will begin drilling and be put into production if they are successful. Emvelco has engaged the experienced operating company, Ozona, to perform the drilling and set up operations.

Emvelco opened down today from yesterday’s close at its 52 week high

...

No surprise from the Fed yesterday. Their feeble statements about inflation just prove what I've said all along: When considering deflation or inflation, the Federal Reserve will always opt for the lesser of the two evils, inflation! Nevertheless, many of the so-called experts on Wall Street seem to think that oil and gas prices can't go any higher ... that China's raising its domestic energy prices will kill demand ... that the bull market in natural resources and the jumps in inflation are over. I believe they are wrong. Dead wrong. Why? All of my experience ... all of my indicators ... all of my proprietary cyclical and technical models tell me oil and gas prices are headed much higher ... natural resources are going to double ... triple and even quadruple ...

The world is all pissed off about high oil and gas prices; protesting is happening in Scotland, Hong Kong, Nepal and Europe as I write.  Spanish truck drivers are blockading their country’s border with France for crying out loud. There's only one way to play it - UltraShort Oil & Gas ProShares (AMEX:DUG). DUG is the answer, and it's probably wise to build a small position before everyone else does.  What the hell is DUG? UltraShort Oil & Gas ProShares (AMEX:DUG) seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the Dow Jones U.S. Oil & Gas index. The fund normally invests 80% of assets in financial instruments with economic characteristics that should be inverse to those of the ...

Some companies just have all the luck. They work to find what they know could be a lucrative product, and find it. Then, to top off the find, the product’s value shoots through the roof just as the company’s efforts hit their production stride. Timing and luck - there is little one can do to predict it, but when the two get together there’s a solid payday on the way.

New Century Energy Corp., an oil and gas exploration and development company, works to explore and develop oil and gas properties in Texas. The company currently owns over 20,000 acres of oil producing properties and is working to increase its holdings through 2008. Where many smaller oil and gas exploration companies are looking to recapture or find new sources of oil and gas, New Century Energy is producing oil and gas with positive revenue results.

In the first quarter of 2008, the

...

On May 21 I opened a position in Ultrashort Oil & Gas [May 21: Oil Looks Toppy to Me - Starting Ultrashort Oil & Gas (DUG)] I wroteThis type of run simply looks overextended and toppy to me - I believe sooner rather than later (probably within a week or two) we are going to see a sharp reversal in oil to the downside. And it will take the commodities with it. Things have now moved to purely speculative mode - who else is left to buy and who is not on this train? I doubt very many....I am going to buy Ultrashort Oil & Gas (DUG) as a "trade", not investment. This ETF has destroyed so many people but when it reverses I believe it will be powerful (this does not short oil directly but shorts a whole bunch of exploration companies) And ...

It's a case of the Tuesdays today Stock Masters. Passing on this great article from cnn money on $130 oil. After reading this I'm thinking maybe it's time to check out the UltraShort Oil & Gas ProShares (Public, AMEX:DUG)? Some say no. They say unlike the tech and real estate bubbles, there's no overabundance of supply. Others say these high prices are not sustainable. Big investment funds are putting money into oil futures as if Saudi Arabia's spigots will run dry tomorrow. At the same time, the supply of oil and the demand for it hasn't changed much in the last year. So it raises the question: Is ...