More Videos:

Dicker and Link: Linn, Noble Energy Are Among the Stock Picks in the Energy Patch

Tickers in this article: APC CEO DVN LINE NBL XOM

NEW YORK (TheStreet) -- I was talking to Stephanie Link today about some interesting moves in the oil patch and where we might still find some value in some exploration and production names.

One interesting move comes in the swap of assets between Linn Energy and Devon Energy . Devon has continued to concentrate on moving its asset base from natural gas to liquids production while Linn has happily swapped out assets that have a better current cash flow to support the company's very strong distribution schedule to shareholders.

Both accomplished their goals with this move. Linn has also benefited from a recent similar swap of assets with Exxon -owned XTO Energy. It is clear that Linn has done a terrific job quelling the skepticism that many felt about the sustainability of its 9% distribution, and Devon continues to be underpaid for their consistent increase of oil and liquids production.

Noble Energy also accomplished much this past week, inking a letter of intent (LOI) with BG Group for the sale of natural gas in a long-term contract with Egypt. This is another huge step in Nobles plan to begin monetizing the strong opportunities it has in the Mediterranean with the Leviathan and Tamar gas fields.

In addition, Noble looks to have found a new partner to aid in the development of its assets in the Levant: Chinese mega cap CNOOC . After the withdrawal of Australian energy company Woodside, it did not take long for Noble to hear from other suitors interested in this opportunity. While nothing so far has been signed, the Chinese represent just the kind of deep-pockets partner that Noble will need to continue to develop this game-changing deepwater asset. Noble remains a core holding of mine.

For bond lovers out there, Anadarko is in the midst of a $2.3 billion bond offering. The last offering from Anadarko was in 2010 and proved to be one of the best short-term bond opportunities in the energy patch. With even better results behind them now and still terrific prospects in the Eagle Ford Shale, Gulf of Mexico and the Marcellus, this bond issuance looks to be a great, safe play.

I talk more about some interesting oil patch ideas with Stephanie in the video above.

At the time of publication the author had a position in NBL. Action Alerts PLUS has a position in Anadarko.

Follow @dan_dicker

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

TheStreet Ratings team rates LINN ENERGY LLC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate LINN ENERGY LLC (LINE) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. You can view the full analysis from the report here: LINE Ratings Report