FORM N-Q
Investment Company Act file number: 811-21656
BlackRock Global Energy and Resources Trust
(Exact name of registrant as specified in charter)
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Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2006 Item 1. Schedule of Investments.
The Registrants 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
JANUARY 31,
2006 (unaudited)
Shares | Description | Value | |||
LONG-TERM INVESTMENTS95.0% | |||||
Common Stocks95.0% | |||||
Australia1.0% | |||||
234,300 | BHP Billiton Ltd. (ADR) | $ | 9,243,135 | ||
Bermuda3.0% | |||||
800,000 | Aries Maritime Transport Ltd. | 10,400,000 | |||
78,100 | 1 | Nabors Industries Ltd. | 6,345,625 | ||
606,000 | Ship Finance International Ltd. | 11,065,560 | |||
Total Bermuda | 27,811,185 | ||||
Brazil0.8% | |||||
82,500 | Petroleo Brasileiro SA (ADR) | 7,796,250 | |||
Canada25.5% | |||||
451,400 | AltaGas Income Trust | 11,956,225 | |||
32,336 | 1 | AltaGas Utility Group, Inc. | 258,336 | ||
605,800 | ARC Energy Trust | 14,418,364 | |||
459,200 | Baytex Energy Trust | 7,978,199 | |||
282,800 | Bonavista Energy Trust | 9,620,736 | |||
121,600 | Canadian Natural Resources Ltd. | 7,539,200 | |||
309,800 | 1 | Compton Petroleum Corp. | 5,121,403 | ||
1,125,000 | Duke Energy Income Fund | 11,802,599 | |||
646,900 | Fairborne Energy Ltd. | 9,069,833 | |||
215,417 | 1 | Fairquest Energy Ltd. | 1,626,431 | ||
450,300 | Focus Energy Trust | 9,887,189 | |||
205,800 | Fording Canadian Coal Trust | 8,400,756 | |||
234,040 | Harvest Energy Trust | 7,645,519 | |||
134,700 | Husky Energy, Inc. | 8,455,336 | |||
780,300 | Keyera Facilities Income Fund | 16,509,574 | |||
349,400 | Paramount Energy Trust | 6,748,431 | |||
265,500 | Pembina Pipeline Income Fund | 3,871,608 | |||
481,400 | Penn West Energy Trust | 17,682,960 | |||
204,200 | Precision Drilling Corp. | 6,846,826 | |||
111,054 | PrimeWest Energy Trust | 3,608,144 | |||
869,400 | Progress Energy Trust | 13,624,327 | |||
199,800 | 1 | Savanna Energy Services | 5,446,460 | ||
163,900 | Talisman Energy, Inc. | 9,986,427 | |||
241,200 | 1 | Trican Well Service Ltd. | 12,751,911 | ||
560,800 | Trinidad Energy Services Income Trust | 9,403,696 | |||
399,900 | Vermilion Energy Trust | 10,795,773 | |||
258,500 | Zargon Energy Trust | 6,869,580 | |||
Total Canada | 237,925,843 | ||||
Cayman Islands0.6% | |||||
87,100 | GlobalSantaFe Corp. | 5,317,455 | |||
Denmark0.6% | |||||
600 | AP Moller - Maersk A/S | 5,977,973 | |||
France1.1% | |||||
47,892 | Technip SA | 3,253,169 | |||
52,000 | Total SA (ADR) | 7,193,160 | |||
Total France | 10,446,329 | ||||
Italy0.6% | |||||
267,500 | Saipem SpA | 5,327,636 | |||
Luxembourg1.3% | |||||
82,400 | 1 | Stolt Offshore SA | 1,040,436 | ||
145,000 | 1 | Stolt Offshore SA (ADR) | 1,842,950 | ||
54,869 | Tenaris SA (ADR) | 8,913,469 | |||
Total Luxembourg | 11,796,855 | ||||
Netherlands1.1% | |||||
81,800 | 1 | Core Laboratories NV | 3,646,644 |
1
Shares | Description | Value | |||
Common Stocks(contd) | |||||
Netherlands(contd) | |||||
62,200 | SBM Offshore NV | $ | 6,307,374 | ||
Total Netherlands | 9,954,018 | ||||
Norway1.8% | |||||
33,600 | Norsk Hydro ASA | 4,123,861 | |||
453,400 | Statoil ASA (ADR) | 12,554,646 | |||
Total Norway | 16,678,507 | ||||
United Kingdom1.2% | |||||
730,273 | BG Group PLC | 8,249,691 | |||
46,279 | 2 | BP PLC (ADR) | 3,346,434 | ||
Total United Kingdom | 11,596,125 | ||||
United States56.4% | |||||
43,900 | 2 | Amerada Hess Corp. | 6,795,720 | ||
221,600 | 2 | Arch Coal, Inc. | 19,217,152 | ||
217,900 | 2 | Atmos Energy Corp. | 5,726,412 | ||
321,900 | Chesapeake Energy Corp. | 11,279,376 | |||
66,006 | 1,3 | CNX Gas Corp. | 1,590,600 | ||
309,600 | Consol Energy, Inc. | 22,569,840 | |||
99,700 | 2 | Diamond Offshore Drilling, Inc. | 8,461,539 | ||
80,300 | 2 | Dominion Resources, Inc. | 6,065,059 | ||
725,000 | Double Hull Tankers, Inc. | 9,874,500 | |||
368,900 | EL Paso Corp. | 4,965,394 | |||
176,900 | EnCana Corp. | 8,820,234 | |||
664,500 | Energy Transfer Partners LP | 25,237,710 | |||
190,500 | Enerplus Resources Fund | 10,135,025 | |||
114,800 | ENSCO International, Inc. | 5,868,576 | |||
687,505 | Enterprise Products Partners LP | 17,373,252 | |||
319,600 | EOG Resources, Inc. | 27,018,984 | |||
72,400 | Exxon Mobil Corp. | 4,543,100 | |||
141,300 | 1 | Grant Prideco, Inc. | 7,077,717 | ||
181,900 | 1 | Hercules Offshore, Inc. | 6,513,839 | ||
186,800 | ITC Holdings Corp. | 5,080,960 | |||
88,400 | Kerr-McGee Corp. | 9,758,476 | |||
518,096 | 1 | Kinder Morgan Management LLC | 23,495,675 | ||
786,600 | 2 | Magellan Midstream Partners LP | 25,399,314 | ||
401,800 | Massey Energy Co. | 16,574,250 | |||
128,500 | 1 | McDermott International, Inc. | 6,682,000 | ||
150,058 | 1 | National-Oilwell Varco, Inc. | 11,414,912 | ||
350,485 | Natural Resource Partners LP | 18,919,180 | |||
202,300 | 1 | Newfield Exploration Co. | 10,600,520 | ||
90,800 | Noble Corp. | 7,303,952 | |||
204,300 | Noble Energy, Inc. | 9,455,004 | |||
179,400 | Northern Border Partners LP | 7,992,270 | |||
168,100 | Patterson-UTI Energy, Inc. | 6,323,922 | |||
233,300 | Peabody Energy Corp. | 23,215,683 | |||
332,500 | Penn Virginia Resource Partner | 20,482,000 | |||
60,000 | PG&E Corp. | 2,238,600 | |||
565,300 | Plains All American Pipeline LP | 24,132,657 | |||
87,000 | Questar Corp. | 7,088,760 | |||
32,100 | Schlumberger Ltd. | 4,091,145 | |||
101,300 | Suncor Energy, Inc. | 8,116,156 | |||
389,900 | TEPPCO Partners LP | 14,445,795 | |||
232,900 | 1 | Transocean, Inc. | 18,899,835 | ||
343,300 | Valero LP | 17,590,692 | |||
270,824 | 1 | Weatherford International Ltd. | 12,127,499 |
2
Shares | Description | Value | ||||||||
Common Stocks(contd) | ||||||||||
United States(contd) | ||||||||||
270,100 | Williams Cos., Inc. | $ 6,439,184 | ||||||||
Total United States | 527,002,470 | |||||||||
Total Common Stocks (cost $680,479,937) | 886,873,781 | |||||||||
SHORT-TERM INVESTMENTS5.2% | ||||||||||
Money Market Fund0.1% | ||||||||||
1,515,550 | Fidelity Institutional Money Market Prime Portfolio | 1,515,550 | ||||||||
Principal | ||||||||||
Amount | ||||||||||
U.S. Government and Agency Zero Coupon Bond5.1% | ||||||||||
$48,000,000 |
4 | Federal Home Loan Bank, 4.34%, 02/01/06 | 48,000,000 | |||||||
Total Short-Term Investments (cost $49,515,550) | 49,515,550 | |||||||||
OUTSTANDING CALL OPTION PURCHASED0.0% | ||||||||||
100 | Tenaris SA, strike price $160, expires 03/18/06 (cost $119,370) | 134,000 | ||||||||
Total investments before outstanding options written100.3% (cost $730,114,8575) | 936,523,331 | |||||||||
OUTSTANDING OPTIONS WRITTEN(1.1)% | ||||||||||
OUTSTANDING CALL OPTIONS WRITTEN(1.1)% | ||||||||||
(175) | Amerada Hess Corp., strike price $145, expires 02/18/06 | (197,750) | ||||||||
(175) | Amerada Hess Corp., strike price $150, expires 02/18/06 | (133,000) | ||||||||
(375) | Arch Coal, Inc., strike price $85, expires 2/18/06 | (142,500) | ||||||||
(375) | Arch Coal, Inc., strike price $85, expires 04/22/06 | (288,750) | ||||||||
(150) | BG Group PLC, strike price 6 GBP, expires 03/17/06 | (134,760) | ||||||||
(150) | BG Group PLC, strike price 6.50 GBP, expires 03/17/06 | (56,706) | ||||||||
(500) | BHP Billiton Ltd., strike price $35, expires 02/18/06 | (245,000) | ||||||||
(200) | BHP Billiton Ltd., strike price $40, expires 02/18/06 | (19,000) | ||||||||
(471) | BHP Billiton Ltd., strike price $40, expires 03/18/06 | (68,295) | ||||||||
(450) | BP PLC, strike price $70, expires 2/18/06 | (137,250) | ||||||||
(150) | Canadian Natural Resources Ltd., strike price $55, expires 02/18/06 | (111,000) | ||||||||
(308) | Canadian Natural Resources Ltd., strike price $60, expires 03/18/06 | (132,440) | ||||||||
(250) | Chesapeake Energy Corp., strike price $35, expires 02/18/06 | (31,250) | ||||||||
(75,000) | Chesapeake Energy Corp., strike price $36.08, expires 03/17/06 | (130,650) | ||||||||
(250) | Chesapeake Energy Corp., strike price $40, expires 04/22/06 | (22,500) | ||||||||
(250) | Consol Energy, Inc., strike price $75, expires 04/22/06 | (110,000) | ||||||||
(250) | Consol Energy, Inc., strike price $72.50, expires 02/10/06 | (49,000) | ||||||||
(226) | Consol Energy, Inc., strike price $75, expires 03/18/06 | (63,280) | ||||||||
(250) | Consol Energy, Inc., strike price $80, expires 04/22/06 | (63,125) | ||||||||
(26,000) | Core Laboratories NV, strike price $43.65, expires 03/31/06 | (73,481) | ||||||||
(25,000) | Core Laboratories NV, strike price $46.16, expires 03/31/06 | (36,250) | ||||||||
(111) | Diamond Offshore Drilling, Inc., strike price $80, expires 02/18/06 | (54,390) | ||||||||
(260) | Diamond Offshore Drilling, Inc., strike price $85, expires 03/18/06 | (104,000) | ||||||||
(200) | Dominion Resources, Inc., strike price $85, expires 04/22/06 | (4,000) | ||||||||
(425) | Dominion Resources, Inc., strike price $85, expires 07/22/06 | (34,000) | ||||||||
(400) | El Paso Corp., strike price $14, expires 04/22/06 | (24,000) | ||||||||
(400) | EnCana Corp., strike price $50, expires 02/18/06 | (63,000) | ||||||||
(350) | ENSCO International, Inc., strike price $50, expires 02/18/06 | (91,000) | ||||||||
(500) | EOG Resources, Inc., strike price $85, expires 02/18/06 | (160,000) | ||||||||
(300) | EOG Resources, Inc., strike price $85, expires 04/22/06 | (195,000) | ||||||||
(200) | EOG Resources, Inc., strike price $90, expires 02/18/06 | (23,000) | ||||||||
(500) | Exxon Mobil Corp., strike price $62.50, expires 02/18/06 | (72,500) | ||||||||
(200) | Fording Canadian Coal Trust, strike price $40, expires 02/18/06 | (42,000) | ||||||||
(395) | Fording Canadian Coal Trust, strike price $41.63, expires 03/18/06 | (79,100) | ||||||||
(254) | GlobalSantaFe Corp., strike price $60, expires 03/18/06 | (76,200) | ||||||||
(400) | Grant Prideco, Inc., strike price $47.50, expires 02/10/06 | (118,800) | ||||||||
(100) | Grant Prideco, Inc., strike price $50, expires 02/18/06 | (20,600) | ||||||||
(150) | Husky Energy, Inc., strike price 66 CAD, expires 02/18/06 | (73,416) | ||||||||
(250) | Husky Energy, Inc., strike price 68 CAD, expires 03/18/06 | (112,484) | ||||||||
(100) | Kerr-McGee Corp., strike price $100, expires 02/18/06 | (109,000) | ||||||||
(174) | Kerr-McGee Corp., strike price $105, expires 03/18/06 | (140,940) | ||||||||
(250) | Massey Energy Co., strike price $40, expires 02/18/06 | (52,500) |
3
Contracts | Description | Value | |||
OUTSTANDING CALL OPTIONS WRITTEN(contd) | |||||
(750) | Massey Energy Co., strike price $45, expires 04/22/06 | $ | (123,750) | ||
(250) | Massey Energy Co., strike price $50, expires 04/22/06 | (13,750) | |||
(204) | McDermott International, Inc., strike price $50, expires 03/18/06 | (85,680) | |||
(250) | McDermott International, Inc., strike price $55, expires 05/20/06 | (96,250) | |||
(100) | Nabors Industries Ltd., strike price $80, expires 02/18/06 | (37,000) | |||
(200) | Nabors Industries Ltd., strike price $80, expires 03/18/06 | (104,000) | |||
(350) | National-Oilwell Varco, Inc., strike price $70, expires 02/18/06 | (238,000) | |||
(150) | National-Oilwell Varco, Inc., strike price $70, expires 05/20/06 | (157,500) | |||
(150) | National-Oilwell Varco, Inc., strike price $75, expires 02/18/06 | (51,000) | |||
(96) | National-Oilwell Varco, Inc., strike price $75, expires 03/18/06 | (55,680) | |||
(200) | Newfield Exploration Co., strike price $55, expires 02/18/06 | (15,500) | |||
(250) | Newfield Exploration Co., strike price $55, expires 03/18/06 | (47,500) | |||
(200) | Noble Corp., strike price $80, expires 02/18/06 | (60,000) | |||
(100) | Noble Corp., strike price $85, expires 03/18/06 | (27,000) | |||
(181) | Noble Energy, Inc., strike price $45, expires 03/18/06 | (57,920) | |||
(400) | Noble Energy, Inc., strike price $47.50, expires 02/18/06 | (36,000) | |||
(8,400) | Norsk Hydro ASA, strike price 832.30 NOK, expires 03/24/06 | (35,514) | |||
(250) | Patterson-UTI Energy, Inc., strike price $37.50, expires 02/18/06 | (30,000) | |||
(233) | Patterson-UTI Energy, Inc., strike price $37.50, expires 03/18/06 | (53,590) | |||
(910) | Peabody Energy Corp., strike price $40, expires 03/18/06 | (1,847,300) | |||
(250) | Peabody Energy Corp., strike price $80, expires 02/18/06 | (457,500) | |||
(100) | Petroleo Brasileiro SA, strike price $80, expires 2/18/06 | (118,000) | |||
(162) | Petroleo Brasileiro SA, strike price $85, expires 03/18/06 | (183,060) | |||
(600) | PG&E Corp., strike price $40, expires 03/18/06 | (6,000) | |||
(200) | Precision Drilling Corp., strike price $35, expires 02/18/06 | (6,000) | |||
(200) | Precision Drilling Corp., strike price $35, expires 03/18/06 | (56,000) | |||
(250) | Questar Corp., strike price $90, expires 02/18/06 | (3,125) | |||
(100) | Questar Corp., strike price $90, expires 04/22/06 | (14,250) | |||
(50,000) | Savanna Energy Services, strike price 32.66 CAD, expires 03/31/06 | (72,912) | |||
(225) | SBM Offshore NV, strike price 72 EUR, expires 02/17/06 | (316,472) | |||
(100) | Schlumberger Ltd., strike price $100, expires 02/18/06 | (276,000) | |||
(100,000) | Statoil ASA, strike price 165 NOK, expires 02/16/06 | (277,458) | |||
(250) | Stolt Offshore SA, strike price $12.50, expires 02/18/06 | (17,500) | |||
(125) | Stolt Offshore SA, strike price $12.50, expires 05/20/06 | (25,000) | |||
(250) | Stolt Offshore SA, strike price $15, expires 05/20/06 | (18,125) | |||
(200) | Suncor Energy, Inc., strike price $70, expires 03/18/06 | (230,000) | |||
(164) | Suncor Energy, Inc., strike price $75, expires 03/18/06 | (124,640) | |||
(250) | Talisman Energy, Inc., strike price $60, expires 02/18/06 | (66,250) | |||
(200) | Talisman Energy, Inc., strike price $65, expires 02/18/06 | (12,000) | |||
(200) | Tenaris SA, strike price $170, expires 03/18/06 | (120,000) | |||
(100) | Total SA, strike price $140, expires 02/18/06 | (19,500) | |||
(200) | Total SA, strike price $145, expires 05/20/06 | (76,000) | |||
(450) | Transocean, Inc., strike price $75, expires 02/18/06 | (315,000) | |||
(300) | Transocean, Inc., strike price $85, expires 03/18/06 | (84,000) | |||
(500) | Weatherford International Ltd., strike price $37.50, expires 02/18/06 | (375,000) | |||
(250) | Weatherford International Ltd., strike price $40, expires 02/18/06 | (132,500) | |||
(218) | Weatherford International Ltd., strike price $45, expires 03/18/06 | (50,140) | |||
(750) | Williams Cos., Inc., strike price $25, expires 02/18/06 | (22,500) | |||
Total Outstanding Call Options Written (premium received $5,608,727) | (10,543,783) | ||||
OUTSTANDING PUT OPTIONS WRITTEN0.0% | |||||
(100) | Amerada Hess Corp., strike price $135, expires 02/18/06 | (3,000) | |||
(180) | Arch Coal, Inc., strike price $80, expires 02/18/06 | (18,000) | |||
(150) | Canadian Natural Resources Ltd., strike price $50, expires 03/18/06 | (6,750) | |||
(200) | Chesapeake Energy Corp., strike price $30, expires 02/18/06 | (2,000) | |||
(100) | Diamond Offshore Drilling, Inc., strike price $70, expires 02/18/06 | (2,000) | |||
(100) | Dominion Resources, Inc., strike price $75, expires 02/18/06 | (8,500) | |||
(100) | EnCana Corp., strike price $40, expires 03/18/06 | (2,000) | |||
(200) | ENSCO International, Inc., strike price $45, expires 03/18/06 | (19,500) | |||
(200) | Exxon Mobil Corp., strike price $57.50, expires 02/18/06 | (2,000) | |||
(200) | GlobalSantaFe Corp., strike price $50, expires 02/18/06 | (3,000) | |||
(250) | Grant Prideco, Inc., strike price $45, expires 02/18/06 | (10,000) | |||
(100) | Husky Energy, Inc., strike price 64 CAD, expires 02/18/06 | (64,747) | |||
(100) | Kerr-McGee Corp., strike price $95, expires 02/18/06 | (500) |
4
Contracts | Description | Value | |||
OUTSTANDING PUT OPTIONS WRITTEN(contd) | |||||
(250) | Massey Energy Co., strike price $35, expires 02/18/06 | $ | (1,875) | ||
(500) | Massey Energy Co., strike price $35, expires 03/18/06 | (22,500) | |||
(300) | Nabors Industries Ltd., strike price $75, expires 02/18/06 | (16,500) | |||
(150) | National-Oilwell Varco, Inc., strike price $65, expires 02/18/06 | (3,750) | |||
(250) | Newfield Exploration Co., strike price $45, expires 03/18/06 | (13,125) | |||
(375) | Newmont Mining Corp., strike price $52.50, expires 02/18/06 | (3,750) | |||
(250) | Newmont Mining Corp., strike price $52.50, expires 03/18/06 | (13,750) | |||
(375) | Newmont Mining Corp., strike price $55, expires 2/18/06 | (9,375) | |||
(100) | Noble Corp., strike price $72.50, expires 02/18/06 | (4,500) | |||
(100) | Patterson-UTI Energy, Inc., strike price $32.50, expires 03/18/06 | (5,250) | |||
(100) | Petroleo Brasileiro SA, strike price $75, expires 02/18/06 | (1,750) | |||
(100) | Questar Corp., strike price $75, expires 02/18/06 | (4,000) | |||
(100) | Schlumberger Ltd., strike price $110, expires 02/18/06 | (2,500) | |||
(100) | Suncor Energy, Inc., strike price $70, expires 02/18/06 | (3,500) | |||
(100) | Talisman Energy, Inc., strike price $55, expires 02/18/06 | (2,750) | |||
(250) | Williams Cos., Inc., strike price $22.50, expires 02/18/06 | (5,000) | |||
(100) | Williams Cos., Inc., strike price $22.50, expires 03/18/06 | (7,500) | |||
Total Outstanding Put Options Written (premium received $562,672) | (263,372) | ||||
Total outstanding options written (premium received $6,171,399) | (10,807,155) | ||||
Total investments net of outstanding options written99.1% | $925,716,176 | ||||
Other assets in excess of liabilities0.9% | 8,113,696 | ||||
Net Assets100.0% | $933,829,872 | ||||
1 | Non-income producing security. | |||
2 | Security, or a portion thereof, pledged as collateral for outstanding options written. | |||
3 | Illiquid security. As of January 31, 2006, the Trust held 0.2% of net assets, with a current market value of $1,590,600. | |||
4 | Rate shown is the yield to maturity as of January 31, 2006. | |||
5 | Cost for Federal income tax purposes is $735,231,151. The net unrealized appreciaton on a tax basis is $201,292,180, consisting of $210,929,087 gross unrealized appreciation and $9,636,907 gross unrealized depreciation. |
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ADR CAD EUR GBP NOK |
American Depositary
Receipts Canadian Dollar Euro British Pound Norwegian Kroner |
5
Item 2. Controls and Procedures.
(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 Registrants 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 Registrants
management, including its principal executive and principal 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 Registrants 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 GabbayPursuant 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