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Athlon Energy (ATHL) is an energy exploration and production company.
The firm focuses on the acquisition, development, and exploitation of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. Athlon formed a partnership with affiliates of Apollo Global Management, LLC (APO) in August 2010 to pursue the acquisition and development of long-lived oil and natural gas properties in the onshore United States.
The firm has targeted the Wolfberry play in the Midland Basin because of its favorable operating environment, consistent reservoir quality across multiple target horizons, long-lived reserve characteristics and high drilling success rates.
The company's properties are characterized by large, contiguous acreage blocks, which has enabled us to implement more efficient and cost-effective operating practices and to capture economies of scale.
The firm is scheduled to report earnings on Feb 25. We expect a strong report from the company. Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock.
52-Week Trading Range: $25.25 - $34.94
Entry Point: $33.80
Stop Loss: $31.91
Target Price: $37.30
We are taking profits on ATHL. Position closed at $37.74.
