SOURCE: The Bedford Report

The Bedford Report

August 24, 2011 08:16 ET

Large Dividends From Seadrill and Pengrowth Under Pressure

The Bedford Report Provides Equity Research on Seadrill and Pengrowth Energy

NEW YORK, NY--(Marketwire - Aug 24, 2011) - Conflicting reports regarding a resolution to Libya's civil war have led to increased volatility in the Oil and Gas Sector. Many oil and gas companies with limited Middle Eastern operations had boosted operations in recent months, leading to larger profits, and larger dividends. The Bedford Report examines the outlook for companies in the Oil and Gas Sector and provides equity research on Seadrill Ltd. (NYSE: SDRL) and Pengrowth Energy Corporation (NYSE: PGH) (TSX: PGF). Access to the full company reports can be found at:

Oil stocks have been volatile this week as investors weigh the possibility of an end to Libya's civil war. Before the uprising began in February, Libya produced about 1.6 million barrels per day and exported 1.3 million, much of it light crude highly valued by Europe's refiners, which have struggled to replace it.

Middle Eastern unrest had led to noticeable gains in energy companies that do not have exposure to Libya and other troubled spots, which benefitted from higher oil prices, and increased production.

The Bedford Report releases investment research on the Oil and Gas Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Forest fires, power outages and unscheduled pipeline outages led to a four percent sequential decline in Pengrowth's second quarter oil production. Despite the production challenges faced in the quarter, Pengrowth says its funds flow from operating activities "remained stable." Presently, Pengrowth pays an annual dividend of 89 cents for a hefty yield of around 8.3 percent.

Seadrill recently announced that it obtained a 34 percent stake in Asia Offshore Drilling Limited for $54 million. The deal includes a provision to make Seadrill responsible for construction supervision and project management for all of the company's jack-up rigs. Presently, the company pays an annual dividend of $3.00 for a yield of around 10.5 percent.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:

Contact Information