UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY
SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21656
Name of Fund: BlackRock Energy and Resources Trust (BGR)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Energy and Resources Trust, 40 East 52nd Street, New York, NY 10022.
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2009
Date of reporting period: 07/31/2009
Item 1 – Schedule of Investments
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Schedule of Investments July 31, 2009 (Unaudited) |
BlackRock Energy and Resources Trust (BGR) |
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(Percentages shown are based on Net Assets) |
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Common Stocks |
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Shares |
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Value |
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Chemicals—1.5% |
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Potash Corp. of Saskatchewan, Inc. |
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108,400 |
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$ |
10,082,284 |
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Coal—11.9% |
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Arch Coal, Inc. |
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632,600 |
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11,013,566 |
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Consol Energy, Inc. |
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734,221 |
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26,086,872 |
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James River Coal Co. (a) |
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36,900 |
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685,233 |
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Massey Energy Co. |
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825,000 |
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21,945,000 |
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Patriot Coal Corp. (a) |
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71,000 |
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594,270 |
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Peabody Energy Corp. |
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547,000 |
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18,111,170 |
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78,436,111 |
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Commercial Services—0.7% |
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MYR Group, Inc. (a)(b) |
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269,231 |
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4,851,543 |
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Gas—1.6% |
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Keyera Facilities Income Fund |
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613,800 |
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10,848,691 |
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Mining—4.2% |
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Agnico-Eagle Mines Ltd. |
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64,500 |
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3,776,475 |
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BHP Billiton Ltd. - ADR |
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160,000 |
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10,073,600 |
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Goldcorp, Inc. |
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242,736 |
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9,148,720 |
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Silver Wheaton Corp. (a) |
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515,500 |
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4,732,290 |
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27,731,085 |
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Oil & Gas—48.1% |
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Apache Corp. (c) |
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200,500 |
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16,831,975 |
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Arena Resources, Inc. (a) |
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92,100 |
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3,005,223 |
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BG Group Plc |
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468,673 |
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7,825,887 |
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Brigham Exploration Co. (a) |
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565,700 |
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2,760,616 |
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Cabot Oil & Gas Corp. |
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351,200 |
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12,337,656 |
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Cimarex Energy Co. |
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154,300 |
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5,520,854 |
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Crescent Point Energy Corp. |
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323,700 |
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10,517,057 |
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Delta Petroleum Corp. (a) |
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1,340,600 |
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2,573,952 |
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Devon Energy Corp. |
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66,300 |
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3,851,367 |
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Diamond Offshore Drilling, Inc. |
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72,200 |
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6,488,614 |
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EQT Corp. |
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417,900 |
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16,039,002 |
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EXCO Resources, Inc. (a) |
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1,242,700 |
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17,074,698 |
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Exxon Mobil Corp. |
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63,000 |
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4,434,570 |
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Galleon Energy, Inc. (a) |
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1,040,800 |
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4,164,166 |
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GMX Resources, Inc. (a) |
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218,700 |
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2,543,481 |
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Goodrich Petroleum Corp. (a) |
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166,100 |
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4,260,465 |
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Hess Corp. |
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89,200 |
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4,923,840 |
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Noble Corp. |
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304,000 |
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10,293,440 |
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Occidental Petroleum Corp. |
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264,600 |
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18,876,564 |
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Penn Virginia Corp. |
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1,027,875 |
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19,745,479 |
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PetroHawk Energy Corp. (a)(c) |
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840,300 |
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20,402,484 |
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Petroleo Brasileiro SA - ADR |
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639,500 |
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21,551,150 |
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Plains Exploration & Production Co. (a) |
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278,400 |
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7,976,160 |
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Range Resources Corp. |
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321,900 |
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14,939,379 |
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Southwestern Energy Co. (a) |
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456,700 |
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18,921,081 |
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StatoilHydro ASA |
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250,258 |
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5,350,728 |
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Talisman Energy, Inc. |
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87,400 |
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1,345,086 |
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Transocean Ltd. (a) |
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342,100 |
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27,261,949 |
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Whiting Petroleum Corp. (a) |
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570,600 |
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26,224,776 |
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318,041,699 |
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Oil & Gas Services—13.4% |
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Cameron International Corp. (a) |
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338,700 |
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10,577,601 |
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Core Laboratories NV |
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51,431 |
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4,421,009 |
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Halliburton Co. |
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339,600 |
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7,501,764 |
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National Oilwell Varco, Inc. (a) |
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496,016 |
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17,826,815 |
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Petrofac Ltd. |
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491,600 |
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6,156,423 |
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Saipem SpA |
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243,600 |
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6,601,722 |
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Schlumberger Ltd. |
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264,800 |
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14,166,800 |
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Weatherford International Ltd. (a) |
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1,122,700 |
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21,061,852 |
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88,313,986 |
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Pipelines—15.2% |
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AltaGas Income Trust |
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451,400 |
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6,846,949 |
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Buckeye Partners LP |
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51,600 |
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2,366,892 |
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Enbridge Energy Partners LP |
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73,200 |
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3,413,316 |
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Energy Transfer Partners LP |
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316,800 |
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14,613,984 |
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Enterprise Products Partners LP |
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653,105 |
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18,352,250 |
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MarkWest Energy Partners LP |
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666,400 |
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14,980,672 |
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ONEOK Partners LP |
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145,800 |
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7,431,426 |
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Pembina Pipeline Income Fund |
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265,500 |
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3,721,560 |
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Common Stocks |
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Shares |
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Value |
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Pipelines— (concluded) |
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Plains All American Pipeline LP |
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220,400 |
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$ |
10,658,544 |
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Questar Corp. |
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218,500 |
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7,225,795 |
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Targa Resources Partners LP |
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300,000 |
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5,694,000 |
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Williams Partners LP |
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245,200 |
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5,453,248 |
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100,758,636 |
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Transportation—1.0% |
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Ship Finance International Ltd. |
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515,600 |
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6,357,348 |
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Total Long-Term Investments |
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645,421,383 |
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Short-Term Securities |
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BlackRock
Liquidity Funds, TempFund, |
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14,947,167 |
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14,947,167 |
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Total Short-Term Securities |
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14,947,167 |
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Total Investments Before Outstanding
Options Written |
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660,368,550 |
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Options Written |
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Contracts |
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Exchange-Traded Call Options Written—(0.9)% |
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Agnico-Eagle
Mines Ltd., Strike Price $55, |
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(210 |
) |
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(98,700 |
) |
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Agnico-Eagle
Mines Ltd., Strike Price $65, |
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(100 |
) |
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(35,000 |
) |
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Apache
Corp., Strike Price $80, Expires |
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(300 |
) |
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(156,000 |
) |
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Arch Coal,
Inc., Strike Price $17, Expires |
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(100 |
) |
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(10,500 |
) |
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Arch Coal,
Inc., Strike Price $18, Expires |
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(200 |
) |
|
(20,000 |
) |
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BHP
Billiton Ltd. - ADR, Strike Price $65, |
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(425 |
) |
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(204,000 |
) |
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BHP
Billiton Ltd. - ADR, Strike Price $70, |
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(100 |
) |
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(30,250 |
) |
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Cabot Oil
& Gas Corp., Strike Price $35, |
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(750 |
) |
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(121,875 |
) |
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Cameron
International Corp., Strike Price |
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(500 |
) |
|
(107,500 |
) |
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Consol
Energy, Inc., Strike Price $38, |
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(925 |
) |
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(64,750 |
) |
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Core
Laboratories NV, Strike Price $89.25, |
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(170 |
) |
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(17,850 |
) |
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Diamond
Offshore Drilling, Inc., Strike |
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(240 |
) |
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(98,400 |
) |
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EQT Corp.,
Strike Price $40, Expires |
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(200 |
) |
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(21,500 |
) |
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EXCO
Resources, Inc., Strike Price $15, |
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(1,000 |
) |
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(40,000 |
) |
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EXCO
Resources, Inc., Strike Price $15, |
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(200 |
) |
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(16,000 |
) |
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EXCO
Resources, Inc., Strike Price $17.50, |
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(210 |
) |
|
(21,525 |
) |
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Goldcorp,
Inc., Strike Price $36, Expires |
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(400 |
) |
|
(100,000 |
) |
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Goodrich
Petroleum Corp., Strike Price |
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(300 |
) |
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(19,500 |
) |
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Halliburton
Co., Strike Price $22, Expires |
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(775 |
) |
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(67,813 |
) |
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Halliburton
Co., Strike Price $23, Expires |
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(415 |
) |
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(18,467 |
) |
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Hess Corp.,
Strike Price $65, Expires |
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(123 |
) |
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(922 |
) |
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Massey
Energy Co., Strike Price $22, |
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(650 |
) |
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(318,500 |
) |
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Massey
Energy Co., Strike Price $25, |
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(300 |
) |
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(76,500 |
) |
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National
Oilwell Varco, Inc., Strike Price |
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(250 |
) |
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(16,250 |
) |
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1 |
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JULY 31, 2009 |
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Schedule of Investments (continued) |
BlackRock Energy and Resources Trust (BGR) |
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|
(Percentages shown are based on Net Assets) |
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|
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|
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|
|
Options Written |
|
Contracts |
|
Value |
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||
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Exchange-Traded Call Options Written— (continued) |
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National
Oilwell Varco, Inc., Strike Price |
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(500 |
) |
$ |
(107,500 |
) |
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National
Oilwell Varco, Inc., Strike Price |
|
|
(500 |
) |
|
(92,500 |
) |
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National
Oilwell Varco, Inc., Strike Price |
|
|
(500 |
) |
|
(80,000 |
) |
|
Noble
Corp., Strike Price $35, Expires |
|
|
(1,000 |
) |
|
(70,000 |
) |
|
Occidental
Petroleum Corp., Strike Price |
|
|
(800 |
) |
|
(544,000 |
) |
|
Occidental
Petroleum Corp., Strike Price |
|
|
(200 |
) |
|
(61,000 |
) |
|
Peabody
Energy Corp., Strike Price $33, |
|
|
(1,800 |
) |
|
(270,000 |
) |
|
Penn
Virginia Corp., Strike Price $20, |
|
|
(1,000 |
) |
|
(252,500 |
) |
|
Penn
Virginia Corp., Strike Price $22.50, |
|
|
(250 |
) |
|
(39,375 |
) |
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PetroHawk
Energy Corp., Strike Price $27, |
|
|
(400 |
) |
|
(78,000 |
) |
|
Petroleo
Brasileiro SA - ADR, Strike Price |
|
|
(200 |
) |
|
(28,500 |
) |
|
Plains All
American Pipeline LP, Strike |
|
|
(220 |
) |
|
(97,900 |
) |
|
Plains All
American Pipeline LP, Strike |
|
|
(500 |
) |
|
(82,500 |
) |
|
Plains
Exploration & Production Co., Strike |
|
|
(400 |
) |
|
(115,000 |
) |
|
Plains
Exploration & Production Co., Strike |
|
|
(300 |
) |
|
(30,000 |
) |
|
Plains
Exploration & Production Co., Strike |
|
|
(100 |
) |
|
(12,750 |
) |
|
Plains
Exploration & Production Co., Strike |
|
|
(125 |
) |
|
(1,250 |
) |
|
Potash
Corp. of Saskatchewan, Inc., Strike |
|
|
(80 |
) |
|
(12,800 |
) |
|
Questar
Corp., Strike Price $35, Expires |
|
|
(575 |
) |
|
(23,000 |
) |
|
Range
Resources Corp., Strike Price $45, |
|
|
(1,000 |
) |
|
(240,000 |
) |
|
Schlumberger
Ltd., Strike Price $60, |
|
|
(325 |
) |
|
(9,750 |
) |
|
Schlumberger
Ltd., Strike Price $65, |
|
|
(580 |
) |
|
(73,950 |
) |
|
Silver
Wheaton Corp., Strike Price $10, |
|
|
(1,500 |
) |
|
(63,750 |
) |
|
Southwestern
Energy Co., Strike Price $44, |
|
|
(675 |
) |
|
(94,500 |
) |
|
Southwestern
Energy Co., Strike Price $46, |
|
|
(675 |
) |
|
(57,375 |
) |
|
Talisman
Energy, Inc., Strike Price $15, |
|
|
(150 |
) |
|
(12,750 |
) |
|
Talisman
Energy, Inc., Strike Price $17.50, |
|
|
(100 |
) |
|
(4,500 |
) |
|
Transocean
Ltd., Strike Price $80, Expires |
|
|
(500 |
) |
|
(137,500 |
) |
|
Transocean,
Ltd., Strike Price $80, Expires |
|
|
(650 |
) |
|
(442,000 |
) |
|
Transocean,
Ltd., Strike Price $85, Expires |
|
|
(100 |
) |
|
(46,000 |
) |
|
Weatherford
International Ltd., Strike Price |
|
|
(500 |
) |
|
(38,750 |
) |
|
Weatherford
International Ltd., Strike Price |
|
|
(830 |
) |
|
(33,200 |
) |
|
Weatherford
International Ltd., Strike Price |
|
|
(500 |
) |
|
(28,750 |
) |
|
Weatherford
International Ltd., Strike Price |
|
|
(300 |
) |
|
(29,250 |
) |
|
Weatherford
International Ltd., Strike Price |
|
|
(200 |
) |
|
(15,000 |
) |
|
|
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
Exchange-Traded Call Options Written— (concluded) |
|
|
|
|
|
|
|
|
Weatherford
International Ltd., Strike Price |
|
|
(200 |
) |
$ |
(11,000 |
) |
|
Whiting
Petroleum Corp., Strike Price $40, |
|
|
(1,000 |
) |
|
(630,000 |
) |
|
Whiting
Petroleum Corp., Strike Price $45, |
|
|
(250 |
) |
|
(160,000 |
) |
|
|
|
|
|
|
|
|
|
|
Total Exchange-Traded Call Options Written |
|
|
|
|
|
(5,808,402 |
) |
|
|
|
|
|
|
|
|
|
|
Over-the-Counter Call Options Written—(0.7)% |
|
|
|
|
|
|
|
|
Apache
Corp., Strike Price $81, Expires |
|
|
(35,000 |
) |
|
(258,300 |
) |
|
Arch Coal,
Inc., Strike Price $17.67, |
|
|
(25,000 |
) |
|
(63,932 |
) |
|
Arch Coal,
Inc., Strike Price $18.06, |
|
|
(25,000 |
) |
|
(33,989 |
) |
|
Arch Coal,
Inc., Strike Price $18.26, |
|
|
(100,000 |
) |
|
(128,418 |
) |
|
Arena
Resources, Inc., Strike Price $33.42, |
|
|
(30,000 |
) |
|
(81,900 |
) |
|
BG Group
Plc, Strike Price 11.05 GBP, |
|
|
(164,000 |
) |
|
(10,975 |
) |
|
Cabot Oil
& Gas Corp., Strike Price $36.50, |
|
|
(30,000 |
) |
|
(78,515 |
) |
|
Cameron
International Corp., Strike Price |
|
|
(60,000 |
) |
|
(150,338 |
) |
|
Cimarex
Energy Co., Strike Price $33.65, |
|
|
(25,000 |
) |
|
(102,340 |
) |
|
Cimarex
Energy Co., Strike Price $33.95, |
|
|
(25,000 |
) |
|
(98,250 |
) |
|
Consol
Energy, Inc., Strike Price $36.84, |
|
|
(100,000 |
) |
|
(248,585 |
) |
|
Crescent
Point Energy Corp., Strike Price |
|
|
(50,000 |
) |
|
(47,714 |
) |
|
Crescent
Point Energy Corp., Strike Price |
|
|
(50,000 |
) |
|
(78,359 |
) |
|
Crescent
Point Energy Corp., Strike Price |
|
|
(15,000 |
) |
|
(17,066 |
) |
|
Devon
Energy Corp., Strike Price $61.67, |
|
|
(20,000 |
) |
|
(52,888 |
) |
|
Energy
Transfer Partners LP, Strike Price |
|
|
(100,000 |
) |
|
(343,856 |
) |
|
EQT Corp.,
Strike Price $36.92, Expires |
|
|
(75,000 |
) |
|
(242,687 |
) |
|
EQT Corp.,
Strike Price $39.03, Expires |
|
|
(25,000 |
) |
|
(54,546 |
) |
|
EXCO
Resources, Inc., Strike Price $15, |
|
|
(100,000 |
) |
|
(115,857 |
) |
|
Goldcorp,
Inc., Strike Price $40.25, Expires |
|
|
(40,000 |
) |
|
(124,419 |
) |
|
Goodrich
Petroleum Corp., Strike Price |
|
|
(200 |
) |
|
(26,031 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
JULY 31, 2009 |
2 |
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Energy and Resources Trust (BGR) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|||||||
|
Over-the-Counter Call Options Written— (continued) |
|
|
|
|
|
|
|
|
Massey Energy Co., Strike Price $25.63, |
|
|
(25,000 |
) |
$ |
(76,282 |
) |
|
Massey Energy Co., Strike Price $26.24, |
|
|
(25,000 |
) |
|
(70,000 |
) |
|
Massey Energy Co., Strike Price $26.76, |
|
|
(150,000 |
) |
|
(381,000 |
) |
|
Peabody Energy Corp., Strike Price $36.53, |
|
|
(50,000 |
) |
|
(91,652 |
) |
|
Penn Virginia Corp., Strike Price $20, |
|
|
(150,000 |
) |
|
(254,525 |
) |
|
Penn Virginia Corp., Strike Price $21.07, |
|
|
(25,000 |
) |
|
(32,850 |
) |
|
Petrofac Ltd., Strike Price 7.66 GBP, |
|
|
(160,000 |
) |
|
(134,145 |
) |
|
PetroHawk Energy Corp., Strike Price |
|
|
(100,000 |
) |
|
(246,075 |
) |
|
PetroHawk Energy Corp., Strike Price $25, |
|
|
(100,000 |
) |
|
(178,298 |
) |
|
Petroleo Brasileiro SA - ADR, Strike Price |
|
|
(50,000 |
) |
|
(99,500 |
) |
|
Petroleo Brasileiro SA - ADR, Strike Price |
|
|
(100,000 |
) |
|
(169,495 |
) |
|
Potash Corp. of Saskatchewan, Inc., Strike |
|
|
(8,000 |
) |
|
(6,271 |
) |
|
Potash Corp. of Saskatchewan, Inc., Strike |
|
|
(20,000 |
) |
|
(102,910 |
) |
|
Questar Corp., Strike Price $35.44, Expires |
|
|
(25,000 |
) |
|
(39,132 |
) |
|
Range Resources Corp., Strike Price |
|
|
(25,000 |
) |
|
(77,875 |
) |
|
Saipem SpA, Strike Price 18.10 EUR, |
|
|
(73,000 |
) |
|
(117,426 |
) |
|
Ship Finance International Ltd., Strike Price |
|
|
(65,000 |
) |
|
(33,000 |
) |
|
Ship Finance International Ltd., Strike Price |
|
|
(65,000 |
) |
|
(3,087 |
) |
|
Silver Wheaton Corp., Strike Price $10.56, |
|
|
(55,000 |
) |
|
(27,500 |
) |
|
Southwestern Energy Co., Strike Price |
|
|
(25,000 |
) |
|
(74,402 |
) |
|
StatoilHydro ASA, Strike Price 127.69 |
|
|
(55,000 |
) |
|
(55,427 |
) |
|
StatoilHydro ASA, Strike Price 131.46 |
|
|
(20,000 |
) |
|
(13,542 |
) |
|
StatoilHydro Asa, Strike Price 134.52 NOK, |
|
|
(20,000 |
) |
|
(25,826 |
) |
|
|
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|||||||
|
Over-the-Counter Call Options Written— (concluded) |
|
|
|
|
|
|
|
|
Whiting Petroleum Corp., Strike Price |
|
|
(50,000 |
) |
$ |
(292,586 |
) |
|
|
|
|
|
|
|
|
|
|
Total Over-the-Counter Call Options Written |
|
|
|
|
|
(4,961,771 |
) |
|
|
|
|
|
|
|
|
|
|
Over-the-Counter Put Option Written—(0.0)% |
|
|
|
|
|
|
|
|
Exxon Mobil Corp., Strike Price $67, |
|
|
(715 |
) |
|
(73,146 |
) |
|
|
|
|
|
|
|
|
|
|
Total Options Written |
|
|
|
|
|
(10,843,319 |
) |
|
|
|
|
|
|
|
|
|
|
Total Investments Net of Outstanding Options Written—98.3% |
|
|
|
|
|
649,525,231 |
|
|
Other Assets in Excess of Liabilities—1.7% |
|
|
|
|
|
11,519,749 |
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
|
|
|
$ |
661,044,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of July 31, 2009, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
680,517,909 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
75,680,674 |
|
|
Gross unrealized depreciation |
|
|
(95,830,033 |
) |
|
|
|
|
|
|
|
Net unrealized depreciation |
|
$ |
(20,149,359 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Non-income producing security. |
|
|
|
|
(b) |
Restricted security as to resale acquired 12/20/07. As of report date, the Trust held 0.7% of its net assets, with a current market value of $4,851,543 and an original cost of $3,500,003, in these securities. |
|
|
|
|
(c) |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|
|
|
|
(d) |
Represents current yield as of report date. |
|
|
|
|
(e) |
Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Affiliate |
|
Net Activity |
|
Income |
|
||
|
|
|||||||
|
BlackRock Liquidity Funds, TempFund |
|
14,947,167 |
|
|
$ |
164,218 |
|
|
BlackRock Liquidity Series, LLC Money Market Series |
|
(25,537,250 |
) |
|
$ |
81,602 |
|
|
|
|||||||
|
|
|
|
• |
Foreign currency exchange contracts as of July 31, 2009 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Currency |
|
Currency |
|
Counterparty |
|
Settlement |
|
Unrealized |
|
|||||||
|
|
||||||||||||||||
|
USD |
23,429 |
|
NOK |
146,000 |
|
|
Citigroup Global |
|
|
8/03/09 |
|
|
$ |
(388 |
) |
|
|
|
||||||||||||||||
|
|
|
|
|
• |
Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows: |
|
|
|
|
|
|
|
• |
Level 1 — price quotations in active markets/exchanges for identical securities |
|
|
|
|
|
|
• |
Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
|
|
|
|
|
|
|
|
|
|
|
3 |
|
JULY 31, 2009 |
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Energy and Resources Trust (BGR) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
• |
Level 3 — unobservable inputs based on the best information available In the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments) |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.
The following tables summarize the inputs used as of July 31, 2009 in determining the fair valuation of the Trust’s investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Valuation Inputs |
|
||||||||||
|
|
|
|
|
||||||||||
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
Investments in Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemicals |
|
$ |
10,082,284 |
|
|
— |
|
|
— |
|
$ |
10,082,284 |
|
|
Coal |
|
|
78,436,111 |
|
|
— |
|
|
— |
|
|
78,436,111 |
|
|
Commercial Services |
|
|
4,851,543 |
|
|
— |
|
|
— |
|
|
4,851,543 |
|
|
Gas |
|
|
10,848,691 |
|
|
— |
|
|
— |
|
|
10,848,691 |
|
|
Mining |
|
|
27,731,085 |
|
|
— |
|
|
— |
|
|
27,731,085 |
|
|
Oil & Gas |
|
|
304,865,084 |
|
$ |
13,176,615 |
|
|
— |
|
|
318,041,699 |
|
|
Oil & Gas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services |
|
|
75,555,841 |
|
|
12,758,145 |
|
|
— |
|
|
88,313,986 |
|
|
Pipelines |
|
|
100,758,636 |
|
|
— |
|
|
— |
|
|
100,758,636 |
|
|
Transportation |
|
|
6,357,348 |
|
|
— |
|
|
— |
|
|
6,357,348 |
|
|
Short-Term |
|
|
14,947,167 |
|
|
— |
|
|
— |
|
|
14,947,167 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
634,433,790 |
|
$ |
25,934,760 |
|
|
— |
|
$ |
660,368,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
|
|
|
|
|
|
|
|
|
Other Financial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
$ |
(5,808,402 |
) |
|
Level 2 |
|
|
|
|
|
|
|
|
|
|
|
(5,035,305 |
) |
|
Level 3 |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
$ |
(10,843,707 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Other financial instruments are options written and foreign currency exchange contracts. Options written are shown at market value and foreign currency contracts are valued at the unrealized appreciation/depreciation on the instrument. |
|
|
|
|
|
KEY TO ABBREVIATIONS |
|
ADR — American Depositary Receipt |
|
|
CAD — Canadian Dollar |
|
|
EUR — Euro |
|
|
GBP — British Pound |
|
|
NOK — Norwegian Krone |
|
|
USD — US Dollar |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JULY 31, 2009 |
4 |
|
|
|
|
Item 2 – Controls and Procedures |
|
|
|
|
|
2(a) – |
The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended. |
|
|
|
|
2(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) 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 |
|
|
|
|
|
|
Certifications – Attached hereto |
|
|
|
|
|
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. |
|
|
|
|
|
|
|
|
BlackRock Energy and Resources Trust |
|
||
|
|
|
|
|
|
|
|
By: |
/s/ Anne F. Ackerley |
|
|
|
|
|
Anne F. Ackerley |
|
|
|
|
|
Chief Executive Officer of |
|
|
|
|
|
BlackRock Energy and Resources Trust |
|
|
|
|
|
|
|
|
|
|
Date: September 22, 2009 |
|
||
|
|
|
|||
|
|
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/ Anne F. Ackerley |
|
|
|
|
|
Anne F. Ackerley |
|
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
|
|
|
BlackRock Energy and Resources Trust |
|
|
|
|
|
|
|
|
|
|
Date: September 22, 2009 |
|
||
|
|
|
|
|
|
|
|
By: |
/s/ Neal J. Andrews |
|
|
|
|
|
Neal J. Andrews |
|
|
|
|
|
Chief Financial Officer (principal financial officer) of |
|
|
|
|
|
BlackRock Energy and Resources Trust |
|
|
|
|
|
|
|
|
|
|
Date: September 22, 2009 |
|
||