Apache (NYSE:APA), EOG Resources (NYSE:EOG), Devon (NYSE:DVN), QEP Resources (NYSE:QEP) Top Picks for Barclays

In the Integrated Oil And Refiners, Barclays (NYSE:BCS) named their top picks in the category, which were Apache (NYSE:APA), EOG Resources (NYSE:EOG), Devon (NYSE:DVN) and QEP Resources (NYSE:QEP), as well as commenting on the sector.

Weekly Highligths: CNQ'S Horizon Fire: Canadian Natural
Resources (NYSE:CNQ) shares made up a little ground on Monday 01/10 after falling sharply on Friday 01/07/11 in reaction to a fire reported at its Primary Upgrading facility at the Horizon Oil Sands Plant. Production at the plant is now shut in. While still early, electronic and instrument communication exists with two coke drums and visual observations indicate damage to two coke drums is likely to be minimal. Additionally, CNQ has indicated the
Horizon plant could possibly run at 50% of capacity using 2 drums while repairs to the other coke drums cutting deck and derrick infrastructure is completed. We estimate the negative impact on revenue is an estimated $0.25 per share for each month the upgrader would be out of service.

Notable potential catalysts: Newfield Exploration (NYSE:NFX)
update on activity in the Maverick Basin targeting the Eagleford shale.

The group trades at 6.6 x our 2012 debt-adjusted cash-flow
estimates on a price deck of $90/$4.50 (excluding COS, MEG, Range Resources (NYSE:RRC), Southwestern (NYSE:SWN), and Ultra Petroleum (NYSE:UPL)), a 10% premium to historical valuation of 6.0x forward-year cash flow. Our top picks are Apache (APA), EOG Resources (EOG), Devon (DVN) and QEP Resources (QEP) (the only gas stock of the four.)"