FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-21656
BlackRock Global Energy and Resources Trust
(Exact name of registrant as specified in charter)
| 100 Bellevue Parkway, Wilmington, DE | 19809 |
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|
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| (Address of principal executive offices) | (Zip code) |
Robert S. Kapito, President
BlackRock Global Energy and Resources Trust
40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)
Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2005
Date of reporting period: July 31, 2005
Item 1. Schedule of Investments.
The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS (unaudited)
JULY
31, 2005
Global Energy and Resource Trust (BGR)
| Shares | Description | Value | |
| COMMON STOCKS—93.2% | |||
| Australia—2.0% | |||
| 369,000 | BHP Billiton Ltd. (ADR) | $ 10,929,780 | |
| 723,900 | Santos Ltd. | 5,910,852 | |
| Total Australia | 16,840,632 | ||
| Bermuda—3.4% | |||
| 800,000 | 1 | Aries Maritime Transport Ltd. | 11,880,000 |
| 78,100 | 1 | Nabors Industries Ltd. | 5,111,645 |
| 606,000 | Ship Finance International Ltd. | 11,392,800 | |
| Total Bermuda | 28,384,445 | ||
| Brazil—0.4% | |||
| 57,800 | Petroleo Brasileiro SA (ADR) | 3,038,546 | |
| Canada—21.9% | |||
| 451,400 | 1 | Altagas Income Trust | 9,849,464 |
| 723,500 | ARC Energy Trust | 13,119,136 | |
| 459,200 | Baytext Energy Trust | 5,749,598 | |
| 282,800 | 1 | Bonavista Energy Trust | 7,381,704 |
| 86,200 | 1 | Canadian Natural Resources Ltd. | 3,584,196 |
| 843,500 | Esprit Energy Trust | 9,082,100 | |
| 646,900 | Fairborne Energy Ltd. | 6,849,188 | |
| 215,417 | 1 | Fairquest Energy Ltd. | 1,361,786 |
| 450,300 | Focus Energy Trust | 8,448,061 | |
| 105,700 | Fording Canadian Coal Trust | 10,756,032 | |
| 372,040 | Harvest Energy Trust | 9,003,978 | |
| 137,200 | Husky Energy, Inc. | 5,917,971 | |
| 780,300 | Keyera Facilities Income Fund | 12,029,585 | |
| 207,900 | NAL Oil & Gas Trust | 2,893,082 | |
| 349,400 | Paramount Energy Trust | 5,426,466 | |
| 129,700 | Pembina Pipeline Income Fund | 1,482,195 | |
| 596,400 | Penn West Energy Trust | 15,080,876 | |
| 377,000 | Peyto Energy Trust | 10,409,438 | |
| 111,054 | PrimeWest Energy Trust | 3,152,823 | |
| 744,800 | Progress Energy Trust | 8,554,006 | |
| 299,800 | 1 | Savanna Energy Services | 5,404,446 |
| 241,200 | 1 | Trican Well Service Ltd. | 7,440,910 |
| 560,800 | Trinidad Energy Services Income Trust | 6,541,409 | |
| 399,900 | Vermilion Energy Trust | 8,220,138 | |
| 258,500 | Zargon Energy Trust | 6,114,850 | |
| Total Canada | 183,853,438 | ||
| Cayman Islands—0.3% | |||
| 56,700 | GlobalSantaFe Corp. | 2,550,933 | |
| China—0.6% | |||
| 74,900 | Yanzhou Coal Mining Co. Ltd. | 4,935,910 | |
| Denmark—0.7% | |||
| 600 | AP Moller—Maersk A/S | 5,849,839 | |
| France—1.0% | |||
| 35,392 | Technip SA | 1,895,435 | |
| 52,000 | Total SA (ADR) | 6,500,000 | |
| Total France | 8,395,435 | ||
| Italy—0.7% | |||
| 382,500 | Saipem | 5,689,419 | |
| Luxemborg—0.7% | |||
| 139,900 | Stolt-Nielsen SA (ADR) | 4,767,792 | |
| 82,400 | 1 | Stolt Offshore SA | 948,847 |
| Total Luxemborg | 5,716,639 | ||
| Netherlands—0.7% | |||
| 72,200 | IHC Caland NV | 5,280,154 | |
| 30,000 | 1 | Core Laboratories NV | 966,000 |
| Total Netherlands | 6,246,154 | ||
1
Global Energy and Resource Trust (BGR) (continued)
| Shares | Description | Value | |
| Norway—1.8% | |||
| 33,600 | Norsk Hydro ASA | $ 3,183,303 | |
| 553,400 | Statoil ASA (ADR) | 12,014,314 | |
| Total Norway | 15,197,617 | ||
| Spain—0.5% | |||
| 136,200 | Repsol YPF SA (ADR) | 3,795,894 | |
| United Kingdom—1.6% | |||
| 730,273 | BG Group PLC | 6,042,875 | |
| 48,055 | BP Amoco PLC (ADR) | 3,165,863 | |
| 34,700 | Rio Tinto PLC (ADR) | 4,602,955 | |
| Total United Kingdom | 13,811,693 | ||
| United States—56.9% | |||
| 91,500 | AGL Resources, Inc. | 3,518,175 | |
| 84,800 | Apache Corp. | 5,800,320 | |
| 221,600 | Arch Coal, Inc. | 12,613,472 | |
| 217,900 | Atmos Energy Corp. | 6,353,964 | |
| 110,400 | Burlington Resources, Inc. | 7,077,744 | |
| 321,900 | Chesapeake Energy Corp. | 8,404,809 | |
| 80,400 | ConocoPhillips | 5,032,236 | |
| 292,000 | Consol Energy, Inc. | 19,669,120 | |
| 92,600 | Diamond Offshore Drilling, Inc. | 5,283,756 | |
| 69,000 | Dominion Resources, Inc. | 5,096,340 | |
| 148,700 | Enbridge Energy Partners LP | 8,416,420 | |
| 160,700 | EnCana Corp. | 6,644,945 | |
| 546,900 | Energy Transfer Partners LP | 20,809,545 | |
| 79,200 | ENSCO International, Inc. | 3,198,096 | |
| 94,700 | Entergy Corp. | 7,380,918 | |
| 860,200 | Enterprise Products Partners LP | 22,993,146 | |
| 312,100 | EOG Resources, Inc. | 19,069,310 | |
| 95,600 | Exelon Corp. | 5,116,512 | |
| 144,600 | Exxon Mobil Corp. | 8,495,250 | |
| 160,600 | Keyspan Corp. | 6,534,814 | |
| 159,800 | ITC Holdings Corp. | 4,474,400 | |
| 364,427 | 1 | Kinder Morgan Management LLC | 17,295,705 |
| 739,600 | Magellan Midstream Partners LP | 26,107,880 | |
| 387,800 | Massey Energy Co. | 16,772,350 | |
| 185,100 | 1 | McDermott International, Inc. | 4,385,019 |
| 150,458 | 1 | National-Oilwell Varco, Inc. | 7,876,476 |
| 273,000 | National Resource Partners LP | 17,676,750 | |
| 148,700 | 1 | Newfield Exploration Co. | 6,318,263 |
| 89,400 | Noble Corp. | 6,005,892 | |
| 85,800 | Noble Energy, Inc. | 7,079,358 | |
| 76,600 | Northern Border Partners LP | 3,879,790 | |
| 51,900 | Occidental Petroleum Corp. | 4,270,332 | |
| 279,300 | Oneok, Inc. | 9,761,535 | |
| 169,800 | Patterson-UTI Energy, Inc. | 5,574,534 | |
| 233,300 | Peabody Energy Corp. | 15,337,142 | |
| 304,700 | Penn Virginia Resource Partner | 15,783,460 | |
| 268,500 | PG&E Corp. | 10,103,655 | |
| 475,900 | Plains All American Pipeline LP | 22,395,854 | |
| 39,600 | 1 | Precision Drilling Corp. | 1,665,576 |
| 73,000 | Public Service Enterprise Group, Inc. | 4,693,900 | |
| 71,600 | Questar Corp. | 5,024,888 | |
| 44,600 | Schlumberger Ltd. | 3,734,804 | |
| 104,900 | Suncor Energy, Inc. | 5,129,610 | |
| 123,300 | Talisman Energy, Inc. | 5,383,278 | |
| 440,300 | TEPPCO Partners LP | 18,452,973 | |
| 238,800 | 1 | Transocean, Inc. | 13,475,484 |
| 237,300 | Valero LP | 14,256,984 | |
| 123,600 | 1 | Weatherford International Ltd. | 7,821,408 |
| 240,100 | Williams Cos., Inc. | 5,099,724 | |
| 94,580 | 1 | XTO Energy, Inc. | 3,318,813 |
| Total United States | 476,664,729 | ||
2
Global Energy and Resource Trust (BGR) (continued)
| Shares | Description | Value | |
| Total Common Stocks (cost $663,999,551) | $780,971,323 | ||
| SHORT-TERM INVESTMENTS—8.3% | |||
| Money Market Fund—0.0% | |||
| 4,653 | Fidelity Institutional Money Market Prime Portfolio | 4,653 | |
| U.S. Treasury Obligations—8.3% | |||
| $ 34,900 | U.S. Treasury Bill, zero coupon, 8/04/05 | 34,891,450 | |
| 34,300 | U.S. Treasury Bill, zero coupon, 8/11/05 | 34,271,886 | |
| Total U.S. Treasury Obligations | 69,163,336 | ||
| Total Short-Term Investments (cost $69,167,989) | 69,167,989 | ||
| Total investments before outstanding options written (cost $733,167,5402) | 850,139,312 | ||
| OUTSTANDING PUT OPTIONS WRITTEN—(0.1)% | |||
| (350) | Alpha Natural Resources, Inc., strike price $22.50, expires 8/20/05 | (3,500) | |
| (250) | Apache Corp., strike price $65, expires 8/20/05 | (16,250) | |
| (325) | Arch Coal, Inc., strike price $50, expires 8/20/05 | (4,875) | |
| (60,000) | BHP Billiton Ltd., strike price $27, expires 8/16/05 | (22,094) | |
| (60,000) | BHP Billiton Ltd., strike price $30.50, expires 8/16/05 | (51,520) | |
| (200) | Burlington Resources, Inc., strike price $60, expires 8/20/05 | (8,000) | |
| (265) | ConocoPhillips, strike price $57.50, expires 8/20/05 | (11,925) | |
| (250) | CONSOL Energy, Inc., strike price $55, expires 8/20/05 | (1,875) | |
| (200) | CONSOL Energy, Inc., strike price $60, expires 8/20/05 | (5,500) | |
| (100) | Diamond Offshore Drilling, Inc., strike price $50, expires 8/20/05 | (1,500) | |
| (280) | EnCana Corp., strike price $40, expires 8/20/05 | (15,400) | |
| (100) | EOG Resources, Inc., strike price $55, expires 8/20/05 | (3,000) | |
| (355) | Exelon Corp., strike price $50, expires 8/20/05 | (7,100) | |
| (250) | Fording Canadian Coal Trust, strike price $95, expires 9/17/05 | (36,875) | |
| (500) | GlobalSantaFe Corp., strike price $42.50, expires 8/20/05 | (47,500) | |
| (500) | McDermott International, Inc., strike price $22.50, expires 9/17/05 | (33,750) | |
| (125) | Massey Energy Co., strike price $40, expires 8/20/05 | (5,625) | |
| (185) | Nabors Industries Ltd., strike price $60, expires 8/20/05 | (3,700) | |
| (300) | Noble Energy, Inc., strike price $75, expires 8/20/05 | (5,250) | |
| (210) | Patterson-UTI Energy, Inc., strike price $27.50, expires 8/20/05 | (3,150) | |
| (250) | Patterson-UTI Energy, Inc., strike price $30, expires 8/20/05 | (5,000) | |
| (134) | Peabody Energy Corp., strike price $50, expires 8/20/05 | (670) | |
| (100) | Precision Drilling Corp., strike price $40, expires 8/20/05 | (3,250) | |
| (500) | Stolt Offshore SA, strike price $10, expires 9/17/05 | (18,750) | |
| (900) | Talisman Energy, Inc., strike price $40, expires 8/20/05 | (20,250) | |
| (160) | Weatherford International Ltd., strike price $60, expires 8/20/05 | (4,800) | |
| Total Outstanding Put Options Written (premium received $522,280) | (341,109) | ||
| OUTSTANDING CALL OPTIONS WRITTEN—(0.4)% | |||
| (135) | Arch Coal, Inc., strike price $55, expires 8/20/05 | (39,150) | |
| (250) | Arch Coal, Inc., strike price $60, expires 8/20/05 | (15,625) | |
| (275) | Apache Corp., strike price $75, expires 8/20/05 | (7,563) | |
| (30,000) | Entergy Corp., strike price $76, expires 8/19/05 | (58,908) | |
| (42,500) | Newfield Exploration Co., strike price $42, expires 8/19/05 | (64,762) | |
| (100,000) | Statoil ASA (ADR), strike price $21.50, expires 8/20/05 | (78,290) | |
| (800) | BHP Billiton Ltd., strike price $30, expires 8/20/05 | (52,000) | |
| (200) | Burlington Resources, Inc., strike price $60, expires 8/20/05 | (102,000) | |
| (200) | Burlington Resources, Inc., strike price $65, expires 9/17/05 | (51,000) | |
| (750) | Peabody Energy Corp., strike price $60, expires 8/20/05 | (502,500) | |
| (200) | CONSOL Energy, Inc., strike price $55, expires 8/20/05 | (250,000) | |
| (150) | CONSOL Energy, Inc., strike price $65, expires 8/20/05 | (53,250) | |
| (400) | CONSOL Energy, Inc., strike price $70, expires 9/17/05 | (88,000) | |
| (200) | ConocoPhillips, strike price $62.50, expires 8/20/05 | (30,000) | |
| (225) | Dominion Resources, Inc., strike price $75, expires 10/22/05 | (42,188) | |
3
Global Energy and Resource Trust (BGR) (continued)
| Contracts | Description | Value | |
| OUTSTANDING CALL OPTIONS WRITTEN—(continued) | |||
| (225) | Dominion Resources, Inc., strike price $75, expires 8/20/05 | $ (25,875) | |
| (250) | Diamond Offshore Drilling, Inc., strike price $55, expires 8/20/05 | (77,500) | |
| (300) | EnCana Corp., strike price $45, expires 8/20/05 | (9,000) | |
| (300) | EOG Resources, Inc., strike price $60, expires 8/20/05 | (76,500) | |
| (100) | Ensco International, Inc., strike price $40, expires 8/20/05 | (17,000) | |
| (320) | Exelon Corp., strike price $55, expires 10/22/05 | (40,000) | |
| (250) | Exelon Corp., strike price $55, expires 9/17/05 | (16,250) | |
| (350) | Fording Canadian Coal Trust, strike price $100, expires 8/20/05 | (157,500) | |
| (250) | Fording Canadian Coal Trust, strike price $110, expires 9/17/05 | (36,250) | |
| (500) | GlobalSantaFe Corp., strike price $47.50, expires 9/17/05 | (47,500) | |
| (270) | McDermott International, Inc., strike price $25, expires 8/20/05 | (7,425) | |
| (250) | McDermott International, Inc., strike price $22.50, expires 8/20/05 | (36,875) | |
| (500) | McDermott International, Inc., strike price $25, expires 9/17/05 | (35,000) | |
| (250) | Massey Energy Co., strike price $40, expires 8/20/05 | (102,500) | |
| (500) | Massey Energy Co., strike price $45, expires 8/20/05 | (40,000) | |
| (500) | Massey Energy Co., strike price $45, expires 9/17/05 | (77,500) | |
| (160) | Noble Energy, Inc., strike price $80, expires 8/20/05 | (56,000) | |
| (140) | Nabors Industries Ltd., strike price $65, expires 8/20/05 | (29,400) | |
| (185) | Nabors Industries Ltd., strike price $70, expires 9/17/05 | (22,663) | |
| (175) | Noble Corp., strike price $65, expires 8/20/05 | (54,250) | |
| (280) | National Oilwell Varco, Inc., strike price $50, expires 8/20/05 | (92,400) | |
| (250) | Patterson-UTI Energy, Inc., strike price $30, expires 8/20/05 | (72,500) | |
| (250) | Patterson-UTI Energy, Inc., strike price $32.50, expires 8/20/05 | (28,750) | |
| (250) | Patterson-UTI Energy, Inc., strike price $32.50, expires 9/17/05 | (46,250) | |
| (160) | Occidental Petroleum Corp., strike price $85, expires 8/20/05 | (16,000) | |
| (135) | Petroleo Brasileiro, strike price $55, expires 9/17/05 | (19,575) | |
| (550) | Transocean, Inc., strike price $60, expires 8/20/05 | (38,500) | |
| (225) | Schlumberger Ltd., strike price $80, expires 8/20/05 | (102,374) | |
| (200) | Suncor Energy, Inc., strike price $50, expires 8/20/05 | (23,000) | |
| (600) | Talisman Energy, Inc., strike price $45, expires 9/17/05 | (108,000) | |
| (200) | Total SA, strike price $120, expires 8/20/05 | (119,000) | |
| (334) | Transocean, Inc., strike price $55, expires 8/20/05 | (96,860) | |
| (460) | Weatherford International Ltd., strike price $60, expires 8/20/05 | (174,800) | |
| (160) | Weatherford International Ltd., strike price $65, expires 9/17/05 | (27,200) | |
| (1,200) | Exxon Mobil Corp., strike price $60, expires 8/20/05 | (78,000) | |
| (700) | XTO Energy, Inc., strike price $33.75, expires 8/20/05 | (179,217) | |
| Total Outstanding Call Options Written (premium received $1,901,864) | (3,622,650) | ||
| Total Investments, net of outstanding options written—101.0% | $846,175,553 | ||
| Liabilities in excess of other assets—(1.0%) | (8,468,868) | ||
| Net Assets—100% | $837,706,685 | ||
| 1 | Non-incoming producing security. | ||
| 2 | Cost for Federal income tax purposes is $735,661,764. The net unrealized appreciation on a tax basis is $114,477,548, consisting of $118,023,803 gross unrealized appreciation and $3,546,255 gross unrealized depreciation. |
KEY TO ABBREVIATIONS
ADR — American
Depository Receipt
4
(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management , including it principle executive and principle financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
Item 3. Exhibits.
Separate certifications of the registrant’s principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) BlackRock Global Energy and Resources Trust
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Treasurer
Date: September 28, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: /s/ Robert S. Kapito
Name: Robert S. Kapito
Title: Principal Executive Officer
Date: September 28, 2005
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Principal Financial Officer
Date: September 28, 2005