NEW YORK, June 19 Shares of oil and gas
producer Rosetta Resources Inc ROSE.O could double as it
exploits vast acreage in two shale fields, according to
financial weekly Barron's.
One is Southern Alberta Basin in northern Montana and the
other Eagle Ford in south Texas. Production is on pace to
outstrip early estimates. [ID:nL3E7G92JT]
Fueled by Eagle Ford, earnings are expected to reach $1.80
a share this year and $3.30 next while cash flow is pegged just
under $6 a share this year and near $9 in 2012, Barron's said.
The company said it found "large accumulations of oil in
every well" after 11 vertical test wells were drilled in
Alberta Basin, and has shelved the idea of a partner, opting to
drill three horizontal wells on its own dime, Barron's said.
Rosetta's stock, which closed just under $43 a share on
Friday, "sells well below a net asset value of $60 to $65,
which by no means fully reflects the terrific potential of the
Alberta Basin. Should that play pan out, the stock could
(Reporting by Lynn Adler, editing by Bernard Orr)