SOURCE: Five Star Equities

Five Star Equities

July 16, 2012 08:20 ET

The First Liquefied-Natural-Gas Export Facility in the U.S. Will Look to Help Ease Natural Gas Supply Glut

Five Star Equities Provides Stock Research on Devon Energy and SandRidge

NEW YORK, NY--(Marketwire - Jul 16, 2012) - Natural gas prices received a boost last week after Cheniere Energy announced it expects to receive $3.4 billion in financing for a liquefied-natural-gas export facility. The export facility would have the potential to help ease the country's current glut of natural gas by allowing natural gas producers to ship the fuel overseas. Five Star Equities examines the outlook for companies in the Natural Gas Industry and provides equity research on Devon Energy Corp. (NYSE: DVN) and SandRidge Energy Inc. (NYSE: SD).

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Cheniere announced on Thursday that eight banks have committed to finance the first liquefied-natural-gas export facility in the U.S. The facility will be located in Louisiana and will allow the company to export 1.1 billion cubic feet a day by the end of 2015, according to a recent Wall Street Journal article. "They have all the capital they need, they have all the permitting they need," said Will Frohnhoefer, BTIG. "I think they're good to go."

The U.S. Energy Information Administration on Thursday reported that natural gas storage levels increased by 33 billion cubic feet. While the levels were above analysts' estimates they were well below the 90 bcf average for this time of year.

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Devon Energy owns natural gas pipelines and treatment facilities in many of their producing areas, making them one of North America's larger processors of natural gas liquids. The company produces about 2.5 billion cubic feet of natural gas each day -- more than 3 percent of all the gas consumed in North America.

SandRidge Energy will release its 2012 second quarter financial and operational results after the close of trading on Thursday, August 2, 2012. For the first quarter 2012 the company reported total production increased 11 percent to 6.1 MMBoe from 5.5 MMBoe in first quarter 2011. Shares of SandRidge have fallen over 20 percent year-to-date.

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