The S&P Energy Index (-0.1%) is modestly higher this morning and is currently
trailing gains in the broader market (+0.6%).
Sector News: MIND (-9.2%) announced and priced a 2 mln share common stock
offering $14.50/share. BPZ (+10.9%) announced the start of the process to
identify and select a potential partner for its offshore Block Z-1. Co also said
that a report indicates Block Z-1 has a best estimate of 981 million barrels of
unrisked prospective oil resources as of March 31, 2011.
Broker Calls: ETE (-1.2%) was downgraded to Hold at Wunderlich. Shares were also
downgraded to Hold at Citi. EXXI (+0.2%) was initiated with Outperform at Credit
Suisse. QEP (-0.6%) was initiated with a Buy at Lazard Capital Mkts. SUBCY
(+0.9%) was downgraded to Sell at Deutsche Bank. CCJ (-0.3%) was initiated with
Buy at Gabelli. COG (+0.5%) was upgraded to Strong Buy at CapitalOne. CXO
(+0.1%) was upgraded to Buy at Pritchard.






