Hercules Offshore Ups Stake in Discover Offshore

- Hercules Offshore Ups Stake in Discover Offshore

Tuesday, September 13, 2011
Hercules Offshore Inc.

Hercules Offshore has acquired an additional 6.1 million shares of Discovery Offshore S.A. at an average price of NOK9.02 per share. With this latest purchase, Hercules Offshore has invested a total of approximately $34.1 million in Discovery Offshore, and currently holds a 28% ownership interest in Discovery Offshore.

"Since our initial investment in Discovery Offshore in January 2011, the fundamentals of the offshore drilling industry have strengthened, and demand for ultra high-specification jackup rigs remains exceptionally strong," said John T. Rynd, President and Chief Executive Officer of Hercules Offshore. "Once delivered in 2013, these rigs will be among the most technically capable jackups worldwide, servicing a growing niche market that requires the advanced capabilities these rigs can provide. Initial discussions with customers confirm our confidence in the rig design, and the robust demand that we anticipate for these rigs for the foreseeable future."

Discovery Offshore is a Luxembourg-based company, focused on ownership of ultra high-specification jackup rigs. Discovery Offshore currently has two ultra high-specification jackup rigs under construction at Keppel FELS in Singapore, with delivery scheduled during the second and fourth quarter of 2013. Discovery Offshore also holds options for two additional jackup rigs. Hercules Offshore is overseeing the construction, marketing and operations of rigs owned by Discovery Offshore, as well as performing other corporate administrative functions required by Discovery Offshore.

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Ford to Debut 1.0-Liter EcoBoost Engine in Europe

- Ford to Debut 1.0-Liter EcoBoost Engine in Europe



Sep 12, 2011

Ford (NYSE:F) confirmed the first production applications for its smallest-ever EcoBoost engine at the 2011 Frankfurt Motor Show.

The engine will debut in the European Ford Focus early in 2012, offering the performance of a conventional 1.6-liter engine with less than 120g/km CO2 emissions.

Graham Hoare, executive director, Powertrain, Ford of Europe said, "By offering the Focus with an advanced small-displacement petrol engine, Ford is not only making a major statement on how serious we are about engine downsizing - it also shows the strength of our development and engineering capabilities. To produce a 1.0-liter EcoBoost petrol engine with such impressive performance and fuel economy is a clear example of our commitment to be class-leading in fuel economy."

Ford Motor (NYSE:F) has a potential upside of 84.1% based on a current price of $10 and an average consensus analyst price target of $18.41.

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Nordic Sets Private Placement for Bakken Drilling Funds

- Nordic Sets Private Placement for Bakken Drilling Funds

Monday, September 12, 2011
Nordic Oil & Gas Ltd.

Donald Benson, President of Nordic Oil and Gas Ltd. ("the Company" or Nordic"), on Monday announced a new non-brokered private placement offering (the "Offering") of up to 30,000,000 units ("Units") at a price of $0.075 per Unit for gross proceeds of up to $2,250,000. Each Unit of the Offering will consist of one Class A common share of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one-half of one Class A common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one regular Class A common share of the Company at a price of $0.10 per share for a period of 18 months from the date of issuance.

The securities issued pursuant to the Offering are subject to a four-month hold period from the date of issuance. The Company anticipates multiple closings of the Offering in the coming weeks.

Certain finders are expected to assist the Company by introducing potential subscriber(s) to the Offering and, subject to compliance with applicable legislation, will be entitled to receive fees equal to up to 10% of the purchase price of the Units sold pursuant to the Offering, as well as compensation warrants (the "Finder's Warrants") equal to up to 10% of the number of Units sold pursuant to the Offering. Each Finder's Warrant shall entitle the holder thereof to purchase one regular Class A common share of the Company at a price of $0.10 for a period of 18 months from the date of issuance.

All terms of the Offering are subject to the approval of the TSX Venture Exchange.

"It is our intention to use a large portion of the funds raised in this Offering to undertake the drilling of our first exploration well on our Weyburn/Bakken property in southeast Saskatchewan," Mr. Benson stated. "We feel that our Weyburn/Bakken property should be our top priority at this time and we would like to be in position to drill the first well early in the fourth quarter of 2011."

Upon analyzing the seismic shot in the region, Nordic's geophysicist has identified four potential drilling locations on the land. He notes that in addition to the Bakken, the seismic also indicates that both the Midale/Frobisher and Red River zones are prospective as well.

"The offsetting land in the area has been producing from the Midale zone since 1991," Mr. Benson added.

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VAALCO Acquires Bakken Interest in Montana

- VAALCO Acquires Bakken Interest in Montana

Friday, September 09, 2011
VAALCO Energy

VAALCO Energy, Inc. today announced that the Company has entered into a definitive agreement with Magellan Petroleum Corporation to acquire and develop an operating working interest in approximately 23,000 net mineral acres of oil, gas and mineral leases covering the Bakken and deeper formations in the East Poplar Unit and the Northwest Poplar Field in Roosevelt County, Montana. Under the terms of the agreement, VAALCO has paid Magellan $5 million and committed to spend approximately $15 million to drill three wells.

VAALCO has agreed to drill three wells to the Bakken formation and to formations below the Bakken in the Poplar Field. All three wells will be drilled by the end of 2012 and one well will be drilled on or before June 1, 2012. Of these, one well will be drilled horizontally to test the Bakken Formation, one well will be drilled vertically to test the Red River Formation, and the third will be targeted at VAALCO's discretion. Under the terms of the definitive agreement, VAALCO will have a 65% working interest in the Bakken and Deep Intervals within the Poplar Field.

Robert Gerry, Chairman and CEO said, "We are excited to complete this acquisition of additional Bakken Acreage, which we believe will be a powerful source of oil revenues to VAALCO over the next several years. In addition to the potential we see in the Bakken formation, we will also be evaluating deeper objectives in the Three Forks, Nisku and Red River formations. Our seismic studies indicate that there are structures in these deeper objectives that could be the source of prolific production and we are optimistic that we can prove up reserves and create shareholder value."

Magellan will retain its current ownership for all formations above the Bakken, including the currently producing Charles and Tyler formations and will retain the remaining 35% of the Bakken and deeper rights in partnership with VAALCO.

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Salamander Farms Into Gulf of Thailand Block

- Salamander Farms Into Gulf of Thailand Block

Friday, September 09, 2011
Salamander Energy

Salamander Energy plc announced that its fully owned subsidiary, Salamander Energy (Bualuang) Ltd has agreed to farm-in to Block G4/50 in the Gulf of Thailand, earning equity in the acreage from Mitsui Oil Exploration Co Ltd (“MOECO”). Following the completion of the transaction, Salamander will hold a 100% working interest in and operatorship of the acreage, while MOECO will retain certain commercial options in the case of a future discovery. Block G4/50 is located in the western Gulf of Thailand and surrounds the Company’s B8/38 licence that contains the Bualuang oil field and Bualuang East Terrace oil discovery. The farm-in is subject to Thai government and regulatory approval.

Key Points:

G4/50, at over 11,650 sq km, is one of the largest blocks of prospective acreage offshore Thailand. The block surrounds the Salamander-operated B8/38 licence in the western Gulf of Thailand

It consolidates Salamander’s acreage position in an area where it has extensive operating experience and geological knowledge

Major programme of 3D seismic in 2H 2011 will be followed by a multiple well exploration programme

As part of the farm-in agreement MOECO will retain certain commercial options in the case of a future discovery

Exploration expenditures incurred in G4/50 are deductible against tax payable on production revenue from the Bualuang oil field in B8/38

James Menzies, Chief Executive, Salamander Energy, said:

“We are delighted to secure a very substantial area of prospective acreage surrounding our Bualuang operations. Block G4/50 has been of growing interest to Salamander as our geological and subsurface understanding of the immediate play has developed. The region remains under-explored to date and we are looking forward to implementing our work programme, starting with an extensive 3D seismic campaign of over 2,900 sq. km on G4/50 in the fourth quarter of this year.”

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ADX Increases Stake in Kerkouane Permit

- ADX Increases Stake in Kerkouane Permit

Friday, September 09, 2011
ADX Energy

ADX Energy Ltd is pleased to announce a Sale and Purchase Agreement has been executed to buy back a further 10% interest in the Lambouka Prospect Area in the Kerkouane Permit from PharmAust Limited and to cancel the option of PAA to purchase an interest in that part of the Lambouka prospect that extends into Italian waters.

The key terms of the sale are as follows;

Upon payment of US$50,000 by PAA to ADX, ADX will issue to PAA 1,000,000 ADX shares

As part of the consideration ADX will also forgive outstanding past joint venture costs owed by PAA to ADX totalling $400,473.

The transaction is subject to Joint Venture pre emption.

ADX farmed out a 10% interest in the Lambouka Prospect Area to PAA in early 2010 to provide funding for the Lambouka #1 well. The Lambouka-1 well intersected a gas column interpreted based on comprehensive LWD (logging while drilling) and a wireline logging data set which was recovered during the drilling of the well. Unfortunately due to instability of the borehole while drilling and evaluating Lambouka, it was not possible to test the well.

Lambouka is located approximately 70 km North East of onshore Cap Bon in the Sicily channel. The Dougga gas condensate discovery is located approximately 22 km SSW of Lambouka.

Upon conclusion of this transaction ADX will hold a 60% interest in the Lambouka Prospect Area. ADX holds a 100% interest in the remaining Pantelleria License area, over which some Kerkouane participants have options, and the Kerkouane Permit area. ADX operates all licenses and has recently announced the award of the adjacent offshore exploration permit d 364 C.R-.AX in Italian waters acquired at 100% equity interest.

ADX is pleased to have the opportunity to further increase its interest in Lambouka on favourable terms. ADX believes Lambouka and the nearby Dougga discovery represent a material appraisal and development opportunity for ADX.

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Kilgore Acquires Additional Klondike Interest

- Kilgore Acquires Additional Klondike Interest

Friday, September 09, 2011
Kilgore Oil & Gas

The Board of Kilgore Oil & Gas is pleased to advise that it has entered an agreement to acquire an additional 5.2% WI in the West Klondike Exploration Prospect, which covers an area of 640 acres in Iberville Parish, Louisiana. Kilgore has acquired this additional 5.2% WI through reimbursement of back costs of approximately $40,000 and otherwise on materially the same terms as the recently announced acquisition of a 5% WI from Grand Gulf Energy Ltd.

Kilgore will now earn a cumulative 10.2% WI in the West Klondike prospect by paying 13.5% of the drilling and completion costs of the initial exploration well, due to be spudded in October 2011. The well is expected to take 30 days to be drilled to a total depth of 10,900ft. Kilgore’s share of the dry hole costs are approximately US$360,000.

Kilgore has now gained exposure to 2 significant onshore, exploration prospects in Louisiana, both of which will be drilled and tested in the next 2-3 months. This confirms the Company’s new strategic direction of combining the testing of high impact exploration prospects together with the realisation of value from its Duvernay Shale and Rock Creek Oil Projects in Canada through the partial sale/farmout process currently underway with Macquarie Capital in Calgary.

The West Klondike Prospect is a fault block closure which has been identified on 3D seismic data and is in close proximity to analogous offset production. The targeted sand sections are the Marg Tex, Lario and Upper and Lower Nod Blan. The likely resource potential is 2 million barrels of oil (MMBL) and 6 billion cubic feet of gas (BCF) with unrisked potential of 4.8 MMBL and 17 BCF gas. In addition to the main target there a larger, high pressure, prospect in the leased area that will require a separate deeper well. The target sands of this deeper feature (Bridas) have recently yielded a significant discovery approximately 2.5km to the North-East.

The West Klondike participation terms are favourable, with the Company paying 13.5% of the initial well and completion costs (US$360,000) to earn its 10.2% WI. In a success case the Company’s share of completion costs are estimated to be a further US$100,000.

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Reliance, BP Finalize $7.2B Acquisition

- Reliance, BP Finalize $7.2B Acquisition

Thursday, September 08, 2011
Reliance Industries Ltd.

Reliance Industries Limited (RIL) and BP announced the completion of BP's acquisition of a 30 percent stake in 21 oil and gas production sharing contracts (PSCs) that Reliance operates in India, including the producing KG D6 block.

This significant step will commence the planned alliance which will operate across the gas value chain in India, from exploration and production to distribution and marketing. The completion of the deal delivers one of the largest ever foreign direct investments into India.

The two companies will also form a 50:50 joint venture for the sourcing and marketing of gas in India which will also accelerate the creation of infrastructure for receiving, transporting and marketing natural gas.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, "The alliance with BP will boost our efforts to realize the true potential of India's hydrocarbon reserves. The globally renowned expertise of BP and the in-depth domestic experience of Reliance make for a formidable alliance which will deliver unparalleled value for the country in its pursuit of energy security."

"This is the beginning of what we expect to be a long and successful working partnership with Reliance, building on the strengths of each company," said Bob Dudley, BP group chief executive. "This major investment is directly aligned with our strategy of creating long-term
value by forming alliances with strong national partners, gaining material positions in significant hydrocarbon basins and increasing our exposure to growing energy markets."

BP will pay RIL an aggregate consideration of US $7.2 billion subject to completion adjustments for the interests to be acquired in the 21 production sharing contracts. Further performance payments of up to US $1.8 billion could be paid based on exploration success that results in development of commercial discoveries.

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FuelCell Reported Q3 Results, Top Line Up 65% YoY

- FuelCell Reported Q3 Results, Top Line Up 65% YoY



Sep 7, 2011

FuelCell Energy (NASDAQ:FCEL) reported a Q3 loss of $0.07 per share, narrower than consensus estimates for a loss of $0.09 per share. Revenues for the quarter rose 65.1% year-over-year to $31.2 million, topping consensus estimates of $29.0 million.

Chip Bottone, President and CEO of FuelCell Energy, Inc said, "The team at FuelCell Energy achieved an important milestone this quarter by generating a gross margin for the first time since we began the commercialization process of Direct FuelCells. We are executing our revenue growth plan and benefitting from operating leverage that is driving down costs. We have record product and service backlog of $230.6 million and we are producing at a record rate and have substantially increased our production run rate to a level of 56 megawatts annually compared to 22 megawatts of production for fiscal year 2010."

FuelCell Energy has a potential upside of 186.4% based on a current price of $1.03 and an average consensus analyst price target of $2.95.

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ConocoPhillips To Establish Bohai Bay Fund

- ConocoPhillips To Establish Bohai Bay Fund



Sep 7, 2011

ConocoPhillips (NYSE:COP) announced on Wednesday that it will establish a fund related to the incidents at the Peng Lai field in Bohai Bay, China.

This fund will be designed to address ConcoPhillips' responsibilities in accordance with relevant laws of China and to benefit the general environment in Boahi Bay.

ConocoPhillips (NYSE:COP) has a potential upside of 26% based on a current price of $65.7 and an average consensus analyst price target of $82.8.

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BP Announces North Sea Development

- BP Announces North Sea Development



Sep 6, 2011

BP (NYSE:BP) announced an agreement to invest up to $1.1 billion to progress a project to develop the Kinnoul reservoir in the central North Sea.

Kinnoul contains 45 million barrels of oil equivalent which will be connected to BP's Andrew platform and enable production to be extended to 2020 and beyond. Production from Kinnoul is forecast to peak at 45,000 barrels per day.

BP (NYSE:BP) has a potential upside of 54.2% based on a current price of $35.9 and an average consensus analyst price target of $55.37.

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Africa Oil, Denovo to Close Transaction in Few Weeks

- Africa Oil, Denovo to Close Transaction in Few Weeks

Tuesday, September 06, 2011
Africa Oil Corp.

Africa Oil provided an update to its previously announced proposed transaction with Denovo Capital whereby Denovo will acquire all the issued and outstanding shares of Canmex Holdings (Bermuda) I Ltd., Africa Oil's wholly-owned subsidiary.

The TSX Venture Exchange approved the filing of Denovo's filing statement dated August 29, 2011 relating to the Transaction and the Filing Statement was filed on SEDAR on September 1, 2011. Denovo has made its initial submission to the Exchange but has not received conditional approval of the Transaction. Africa Oil and Denovo expect to be in a position to close the Transaction in the next few weeks.

Following the completion of the Transaction, Denovo will, among other things, have consolidated its issued and outstanding common shares on the basis of one post-consolidation common share for every 0.65 pre-consolidation common shares, continued into the Province of British Columbia under the Business Corporations Act (British Columbia) and changed its name to "Horn Petroleum Corporation". For further information regarding the Transaction, please see Denovo's press release dated August 11, 2011.

In connection with the Transaction, Africa Oil announced the results of an independent evaluation of the prospective resources held by Canmex in the Dharoor Valley and Nugaal Valley Blocks in Puntland (Somalia) ("Resource Report"). The Resource Report, effective June 30, 2011, was prepared for Denovo by Petrotech Engineering Ltd. ("Petrotech") and in accordance with the current guidelines outlined in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. A copy of the Resource Report may also be found under Denovo's profile on SEDAR.

The Resource Report indicates that gross best estimate prospective resource in the Dharoor Valley and Nugaal Valley Blocks, including both prospects and leads, are in excess of 5.2 billion barrels of oil. A summary of Canmex's gross and net share of the unrisked prospective resources (prospects) and the net present values from the profit oil revenue less the un-recoverable amount of funds from the production operation; discounted at 0, 5, 10, 15 and 20% before and after income tax are presented in the table below. The net cash flow is calculated at forecast prices and escalated costs on the prospective resources, to all future time and after deduction of the capital costs, royalties and before and after deduction of income tax. All cash flow data is in U.S. dollars.

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Sunoco Announced It Plans To Exit Refining Business

- Sunoco Announced It Plans To Exit Refining Business



Sep 6, 2011

Sunoco (NYSE:SUN) announced that it plans to exit its refining business and has begun a process to sell its refineries located in Philadelphia and Marcus Hook, Pennsylvania. The company also announced it is conducting a comprehensive strategic review of the company to determine the best way to deliver value to shareholders.

Lynn L. Elsenhans, Sunoco's chairman and chief executive officer said, "We have made progress in increasing the efficiency of our refineries over the last several years, but given the unacceptable financial performance of these assets, it is clear that it is in the best interests of shareholders to exit this business and focus on our profitable retail and logistics businesses which have higher returns, growth potential, and provide steady, ratable cash flow."

Sunoco has a potential upside of 27% based on a current price of $36.11 and an average consensus analyst price target of $45.86.

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Lufkin Industries Announced It Signed Agreement To Acquire All Assets Of Quinn's Oilfield Supply Ltd

- Lufkin Industries Announced It Signed Agreement To Acquire All Assets Of Quinn's Oilfield Supply Ltd



Sep 6, 2011

Lufkin Industries (NASDAQ:LUFK) announced it has signed an Asset Purchase Agreement to acquire substantially all of the assets of Quinn's Oilfield Supply Ltd., including certain affiliates, for about $303 million in cash subject to certain adjustments.

John F. Glick, President and Chief Executive Officer of Lufkin, stated, "The acquisition of Quinn's continues our strategy of expanding our product portfolio in artificial lift systems, while at the same time extending our sales and service network in the increasingly active oil provinces of the United States and Western Canada. The integration of Lufkin's surface beam pump unit with Quinn's downhole rod pump will enhance Lufkin's ability to package complementary products and allow us to better optimize the rod lift system to the benefit of our customers. Quinn's is well positioned to benefit from the large increase in unconventional oil plays as oil shale wells generally transition to artificial lift approximately 18 to 24 months after completion. Quinn's downhole rod pumps and PCPs are also a clear fit with our Automation strategy of integrating downhole devices and instrumentation to monitor and control production."

Lufkin Industries has a potential upside of 62.3% based on a current price of $58.83 and an average consensus analyst price target of $95.5.

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Dow Chemical Awarded $12.8 Million by Department of Energy To Develop Photovoltaics

- Dow Chemical Awarded $12.8 Million by Department of Energy To Develop Photovoltaics



Sep 2, 2011

As part of the U.S. Department of Energy's SunShot initiative, Dow Solar, a business unit of The Dow Chemical Company (NYSE:DOW), has been awarded a $12.8 million, 3-year grant to fund a program to dramatically reduce the cost of building integrated solar products. The program's goal to ensure that solar power is a viable source for the nation's power needs and economic growth, and accelerate widespread solar adoption.

The Department of Energy grant will help fund a $22.4 million program that brings together leaders from across the entire value chain, including solar solutions providers, national laboratories, universities, leading electronics companies and national home builders to create a new solar technology that reduces the total installation costs and provide reliable, low cost solar energy to residential consumers.

Dow Chemical (NYSE:DOW) has a potential upside of 53.4% based on a current price of $26.83 and an average consensus analyst price target of $41.15.

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Halliburton Filed Claims Against BP In Texas State Court

- Halliburton Filed Claims Against BP In Texas State Court



Sep 2, 2011

Halliburton (NYSE:HAL) filed claims against BP (NYSE:BP) in Texas state court for negligent misrepresentation, business disparagement and defamation related to the April 20, 2010, Macondo incident.

The company also moved to amend its claims against BP in the multi-district litigation in New Orleans, Louisiana, to include fraud.

Halliburton has a potential upside of 66.9% based on a current price of $43.02 and an average consensus analyst price target of $71.79.

Full news
- Halliburton Sues BP In Texas - Alleges Misrepresentation <<


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Pemex Secures Close to 10% Stake in Repsol

- Pemex Secures Close to 10% Stake in Repsol

Friday, September 02, 2011
Dow Jones Newswires
MADRID
by Ilan Brat

Repsol said Friday that Mexico's state-owned oil company has purchased an additional 4.62% stake in the company.

The purchase nearly doubles Petroleos Mexicanos SA's ownership in Repsol to around 9.4%, and comes as Pemex carries out an agreement with fellow Repsol shareholder Sacyr Vallehermoso to vote together in an attempt to exert more control over the Spanish oil firm's board.

The purchase of 56.4 million shares would be worth EUR1.12 billion at Repsol's closing price of EUR19.8 on Friday.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Baker Hughes Acquires Stake in Verdande Energy

- Baker Hughes Acquires Stake in Verdande Energy

Friday, September 02, 2011
Baker Hughes Inc.

Baker Hughes and Verdande Technology announced that a subsidiary of Baker Hughes has acquired a minority equity stake in Verdande Energy AS, a subsidiary of Verdande Technology AS, and will become a user of Verdande Technology's case-based reasoning (CBR) software platform for oil and gas applications.

This CBR technology, called DrillEdge™, is a real-time intervention tool constructed on the principle of case-based reasoning, a problem-solving process that identifies similar issues from relevant wells drilled in the past and offers similar solutions. This immediate intervention-while-drilling response provides a thorough, fast and practical real-time bridge between past experience and current operations. Under the terms of the agreement, Baker Hughes will be involved in further developing the capabilities.

"The DrillEdge platform is expected to help operators lower risk, increase their rate of penetration and reduce non-productive time while drilling," said Scott Schmidt, president of Drilling and Evaluation for Baker Hughes. "Integrating this capability into our portfolio of real-time optimization and remote drilling services complements our BEACON remote operations platform. The technology is expected to help our customers expand their understanding of their wells without increasing their workload as they continue to drill more demanding and technically challenging wells."

"This strategic arrangement delivers immense benefits to our customers seeking to improve drilling performance and drive operational efficiencies by joining our technology with Baker Hughes' extensive network," said Lars Olrik, chief executive officer of Verdande Technology. "It helps a small company like ours strengthen its place in the market, access a global support and operational network and further develop the technology at a more rapid pace."

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GM Reports Sales In August Were Up

 - GM Reports Sales In August Were Up



Sep 1, 2011

General Motors (NYSE:GM) reported that U.S. August sales were up to 18% to 218,479 units.

The company also said that the month-end dealer inventory in the United States was 556,884 units, including 212,520 full-size pick up trucks and it's on track to meet its target of ending 2011 with a full-size pick up inventory of 200,000 units.

General Motors (NYSE:GM) has a potential upside of 75.6% based on a current price of $23.41 and an average consensus analyst price target of $41.12.

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Royal Dutch Shell Awards Enterprise Framework Agreement to Tyco

- Royal Dutch Shell Awards Enterprise Framework Agreement to Tyco



Aug 31, 2011

Tyco International's (NYSE:TYC) flow control unit has been selected by Shell (NYSE:RDS-A) to provide butterfly valves to Shell globally.

The five-year Enterprise Framework Agreement covers more than 2,500 of Tyco's Vanessa, Winn, NeoTecha, Sapag brand butterfly valves, for use in projects, maintenance repair operations and turnaround applications.

David Dunbar, president of Tyco Valves & Controls, a unit of Tyco Flow Control said, "We appreciate the confidence Shell has shown in Tyco Flow Control with this EFA. As Shell grows, Tyco can scale with the company, bringing technology, leadership and service wherever they are needed."

Tyco International (NYSE:TYC) has a potential upside of 25.3% based on a current price of $41.9 and an average consensus analyst price target of $52.5.

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