N-Q 1 c54732_nq.htm c54732_nq.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 Global Energy and Resources Trust (BGR)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Global Energy and Resources Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 10/31/2008

Date of reporting period: 05/01/2008 – 07/31/2008

 


Item 1 – Schedule of Investments

 

 

Schedule of Investments July 31, 2008 (Unaudited)

BlackRock Global Energy and
Resources Trust (BGR)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Shares

 

Common Stocks

 

Value

 

 

 

 

Chemicals—2.2%

 

 

 

 

 

127,900

 

Potash Corp. of Saskatchewan

 

$

26,126,133

 

 

 

 

Coal—14.0%

 

 

 

 

 

578,800

 

Arch Coal, Inc.(a)

 

 

32,592,228

 

 

528,821

 

Consol Energy, Inc.(a)

 

 

39,338,994

 

 

682,900

 

Massey Energy Co.(a)

 

 

50,705,325

 

 

35,500

 

Patriot Coal Corp.(b)

 

 

4,478,325

 

 

530,200

 

Peabody Energy Corp.

 

 

35,868,030

 

 

 

 

 

 

 

 

 

 

 

 

 

162,982,902

 

 

 

 

Commercial Services—0.4%

 

 

 

 

 

269,231

 

MYR Group, Inc.(b)(c)

 

 

4,375,004

 

 

 

 

Electric—1.7%

 

 

 

 

 

542,500

 

NRG Energy, Inc.(b)

 

 

19,687,325

 

 

 

 

Gas—1.1%

 

 

 

 

 

613,800

 

Keyera Facilities Income Fund

 

 

13,367,586

 

 

 

 

Metal Fabricate/Hardware—0.5%

 

 

 

 

 

104,600

 

Tenaris S.A. (ADR)

 

 

6,302,150

 

 

 

 

Mining—3.2%

 

 

 

 

 

207,100

 

BHP Billiton Ltd. (ADR)(a)

 

 

15,462,086

 

 

247,736

 

Goldcorp, Inc.

 

 

9,252,940

 

 

426,500

 

Silver Standard Resources, Inc.(b)(d)

 

 

12,065,685

 

 

 

 

 

 

 

 

 

 

 

36,780,711

 

 

 

Oil & Gas—41.0%

 

 

 

 

 

190,000

 

Apache Corp.(a)

 

 

21,312,300

 

 

468,673

 

BG Group Plc

 

 

10,592,138

 

 

239,930

 

Bill Barrett Corp.(b)

 

 

9,870,720

 

 

231,000

 

Cabot Oil & Gas Corp.

 

 

10,166,310

 

 

70,200

 

Canadian Natural Resources Ltd.(a)

 

 

5,479,110

 

 

295,400

 

Chesapeake Energy Corp.(a)

 

 

14,814,310

 

 

103,900

 

Compton Petroleum Corp.(b)

 

 

1,066,447

 

 

744,100

 

Crescent Point Energy Trust

 

 

25,143,669

 

 

904,600

 

Delta Petroleum Corp.(b)(d)

 

 

17,250,722

 

 

97,800

 

Devon Energy Corp.

 

 

9,280,242

 

 

76,000

 

Diamond Offshore Drilling, Inc.

 

 

9,066,800

 

 

198,400

 

Duvernay Oil Corp.(b)

 

 

15,946,404

 

 

84,700

 

EnCana Corp.

 

 

6,114,493

 

 

184,200

 

EOG Resources, Inc.

 

 

18,517,626

 

 

1,410,900

 

EXCO Resources, Inc.(b)(d)

 

 

36,753,945

 

 

219,900

 

Forest Oil Corp.(b)

 

 

12,540,897

 

 

1,040,800

 

Galleon Energy, Inc.(b)

 

 

16,619,054

 

 

115,000

 

GMX Resources, Inc.(b)(d)

 

 

6,750,500

 

 

45,000

 

Goodrich Petroleum Corp.(b)

 

 

2,063,250

 

 

340,300

 

Helmerich & Payne, Inc.

 

 

20,121,939

 

 

90,000

 

Hess Corp.

 

 

9,126,000

 

 

528,700

 

Newfield Exploration Co.(b)

 

 

25,895,726

 

 

209,300

 

Noble Corp.(d)

 

 

10,856,391

 

 

189,700

 

Occidental Petroleum Corp.

 

 

14,954,051

 

 

676,200

 

Penn Virginia Corp.

 

 

41,079,150

 

 

67,600

 

PetroHawk Energy Corp.(b)

 

 

2,252,432

 

 

411,000

 

Petroleo Brasileiro S.A. (ADR)

 

 

22,979,010

 

 

293,200

 

Plains Exploration & Production Co.(b)

 

 

16,410,404

 

 

253,900

 

Range Resources Corp.

 

 

12,329,384

 

 

400,600

 

Southwestern Energy Co.(b)

 

 

14,545,786

 

 

403,957

 

StatoilHydro ASA

 

 

13,085,617

 

 

471,100

 

Talisman Energy, Inc.

 

 

8,399,713

 

 

399,900

 

Vermilion Energy Trust

 

 

15,457,827

 

 

 

 

 

 

 

 

 

 

 

 

 

476,842,367

 

 

 

 

Oil & Gas Services—13.6%

 

 

 

 

 

347,800

 

Cameron Intl. Corp.(b)(d)

 

 

16,610,928

 

 

51,931

 

Core Laboratories N.V.

 

 

6,730,777

 

 

345,800

 

Halliburton Co.

 

 

15,498,756

 

 

140,800

 

Helix Energy Solutions Group, Inc.(b)

 

 

4,495,744

 

 

365,516

 

National Oilwell Varco, Inc.(b)

 

 

28,740,523

 

 

265,200

 

Saipem S.p.A.

 

 

10,253,210

 

 

115,100

 

SBM Offshore N.V.

 

 

2,575,520

 

 

221,400

 

Schlumberger Ltd.

 

 

22,494,240

 

 

271,800

 

Transocean, Inc.(b)

 

 

36,972,954

 

 

 

 

 

 

 

 

 

Shares

    

Common Stocks

 

Value

 

 

 

 

Oil & Gas Services— (cont’d)

 

 

 

 

 

357,048

 

Weatherford Intl. Ltd.(b)(d)

 

$

13,471,421

 

 

 

 

 

 

 

 

 

 

 

 

 

157,844,073

 

 

 

 

Pipelines—10.4%

 

 

 

 

 

451,400

 

AltaGas Income Trust

 

 

10,760,949

 

 

51,600

 

Buckeye Partners LP

 

 

2,175,456

 

 

73,200

 

Enbridge Energy Partners LP

 

 

3,640,968

 

 

320,700

 

Energy Transfer Partners LP

 

 

13,713,132

 

 

653,105

 

Enterprise Products Partners LP(a)

 

 

19,429,874

 

 

312,500

 

Equitable Resources, Inc.

 

 

16,328,125

 

 

334,100

 

MarkWest Energy Partners LP

 

 

11,042,005

 

 

145,800

 

ONEOK Partners LP

 

 

7,892,154

 

 

265,500

 

Pembina Pipeline Income Fund

 

 

4,584,247

 

 

116,400

 

Plains All American Pipeline LP

 

 

5,362,548

 

 

225,100

 

Questar Corp.

 

 

11,903,288

 

 

300,000

 

Targa Resources Partners LP

 

 

6,759,000

 

 

245,200

 

Williams Partners LP

 

 

7,336,384

 

 

 

 

 

 

 

 

 

 

 

 

 

120,928,130

 

 

 

 

Transportation—6.4%

 

 

 

 

 

494,800

 

Aries Maritime Transport Ltd.

 

 

1,479,452

 

 

238,600

 

Genco Shipping & Trading Ltd.(d)

 

 

16,267,748

 

 

860,100

 

OceanFreight, Inc.

 

 

16,694,541

 

 

930,100

 

Paragon Shipping, Inc., Class A

 

 

14,267,734

 

 

390,400

 

Seaspan Corp.

 

 

9,283,712

 

 

546,000

 

Ship Finance Intl. Ltd.

 

 

16,238,039

 

 

 

 

 

 

 

 

 

 

 

74,231,226

 

 

 

 

Total Common Stocks
(Cost—$774,648,013)—94.5%

 

 

1,099,467,607

 

 

Short-Term Securities

 

 

 

Money Market Funds—6.8%

 

 

 

 

 

56,504,000

 

BlackRock Liquidity Series, LLC Money Market Series, 2.45%(e)(f)(g)

 

 

56,504,000

 

 

22,333,578

 

Fidelity Institutional Money Market Prime Portfolio, 2.63%(e)

 

 

22,333,578

 

 

 

 

Total Short-Term Securities
(Cost—$78,837,578)—6.8%

 

 

78,837,578

 

 

Contracts

 

Options Purchased

 

 

 

 

 

 

Outstanding Call Options Purchased—0.6%

 

 

 

 

 

50,000

 

Apache Corp., strike price $140, expires 11/03/08

 

 

155,980

 

 

25,000

 

Devon Energy Corp., strike price $120, expires 11/03/08

 

 

61,905

 

 

20,000

 

Diamond Offshore Drilling, Inc., strike price $137, expires 11/03/08

 

 

81,776

 

 

300

 

Genco Shipping & Trading Ltd., strike price $65, expires 11/18/08

 

 

341,250

 

 

170,000

 

Genco Shipping & Trading Ltd., strike price $66.92, expires 11/03/08

 

 

1,610,631

 

 

425

 

Hess Corp., strike price $125, expires 11/24/08

 

 

204,000

 

 

100,000

 

Massey Energy Co., strike price $51.92, expires 11/03/08

 

 

2,509,250

 

 

250

 

Massey Energy Co., strike price $65, expires 01/19/09

 

 

490,000

 

 

285

 

NRG Energy, Inc., strike price $50, expires 12/22/08

 

 

10,687

 

 

50,000

 

Peabody Energy Corp., strike price $59.45, expires 11/03/08

 

 

636,815

 

 

250

 

Silver Wheaton Corp., strike price $20, expires 11/26/08

 

 

5,673

 

 

250

 

Transocean, Inc., strike price $135, expires 11/24/08

 

 

343,750

 

 

250

 

Transocean, Inc., strike price $165, expires 11/24/08

 

 

96,250

 

 

100

 

Transocean, Inc., strike price $175, expires 11/24/08

 

 

23,250

 

1

 

 

Schedule of Investments July 31, 2008 (Unaudited)
(continued)

BlackRock Global Energy and
Resources Trust (BGR)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Contracts

 

Options Purchased

 

Value

 

 

 

Total Outstanding Options Purchased
(Cost—$5,958,392)—0.6%

 

$

6,571,217

 

 

 

 

Total Investments Before Outstanding Options Written

 

 

 

 

 

 

 

(Cost—$859,443,983*)—101.9%

 

 

1,184,876,402

 

 

 

 

Outstanding Options Written

 

 

 

 

 

 

 

Outstanding Call Options Written—(2.0)%

 

 

 

 

 

(100,000

)

Apache Corp., strike price $155, expires 11/03/08

 

 

(149,680

)

 

(25,000

)

Arch Coal, Inc., strike price $61, expires 11/20/08

 

 

(145,683

)

 

(25,000

)

Arch Coal, Inc., strike price $66, expires 11/21/08

 

 

(109,860

)

 

(25,000

)

Arch Coal, Inc., strike price $70, expires 11/03/08

 

 

(67,245

)

 

(50,000

)

Arch Coal, Inc., strike price $75.05, expires 12/19/08

 

 

(157,975

)

 

(250

)

Arch Coal, Inc., strike price $85, expires 01/19/09

 

 

(58,125

)

 

(10,000

)

BG Group Plc, strike price 13.05 GBP, expires 11/21/08

 

 

(8,106

)

 

(150,000

)

BG Group Plc, strike price 14.12 GBP, expires 11/04/08

 

 

(47,199

)

 

(400

)

BHP Billiton Ltd. (ADR), strike price $100, expires 11/24/08

 

 

(42,000

)

 

(300

)

BHP Billiton Ltd. (ADR), strike price $90, expires 11/24/08

 

 

(72,750

)

 

(100

)

BHP Billiton Ltd. (ADR), strike price $95, expires 11/24/08

 

 

(16,500

)

 

(45,000

)

Bill Barrett Corp., strike price $65.50, expires 11/21/08

 

 

(14,526

)

 

(25,000

)

Cabot Oil & Gas Corp., strike price $56, expires 11/23/08

 

 

(53,263

)

 

(25,000

)

Cabot Oil & Gas Corp., strike price $66, expires 11/21/08

 

 

(23,292

)

 

(30,000

)

Cameron Intl. Corp., strike price $51, expires 11/21/08

 

 

(115,767

)

 

(15,000

)

Cameron Intl. Corp., strike price $56, expires 11/21/08

 

 

(34,413

)

 

(300

)

Cameron Intl. Corp., strike price $60, expires 11/24/08

 

 

(44,250

)

 

(400

)

Cameron Intl. Corp., strike price $65, expires 11/24/08

 

 

(32,000

)

 

(10,000

)

Canadian Natural Resources Ltd., strike price $100, expires 11/20/08

 

 

(24,779

)

 

(12,500

)

Canadian Natural Resources Ltd., strike price $95, expires 11/20/08

 

 

(41,969

)

 

(500

)

Chesapeake Energy Corp., strike price $50.05, expires 11/17/08

 

 

(309,855

)

 

(10,000

)

Chesapeake Energy Corp., strike price $66, expires 11/20/08

 

 

(19,587

)

 

(50,000

)

Chesapeake Energy Corp., strike price $68, expires 11/03/08

 

 

(65,595

)

 

(25,000

)

Consol Energy, Inc., strike price $100, expires 11/03/08

 

 

(79,363

)

 

(100

)

Consol Energy, Inc., strike price $120, expires 01/19/09

 

 

(35,000

)

 

(40,000

)

Consol Energy, Inc., strike price $88, expires 11/20/08

 

 

(265,496

)

 

(50,000

)

Consol Energy, Inc., strike price $90, expires 11/20/08

 

 

(306,170

)

 

(500

)

Consol Energy, Inc., strike price $95, expires 08/18/08

 

 

(20,000

)

 

(10,000

)

Core Laboratories N.V., strike price $136, expires 11/21/08

 

 

(92,028

)

 

(55

)

Core Laboratories N.V., strike price $150, expires 09/22/08

 

 

(11,137

)

 

(100

)

Devon Energy Corp., strike price $130, expires 08/18/08

 

 

(500

)

 

(50,000

)

Devon Energy Corp., strike price $132, expires 11/03/08

 

 

(62,455

)

 

 

 

 

 

 

 

 

Contracts

 

Options Written

 

 

Value

 

 

 

 

Outstanding Call Options Written— (cont’d)

 

 

 

 

 

(40,000

)

Diamond Offshore Drilling, Inc., strike
price $151, expires 11/03/08

 

$

(66,412

)

 

(100

)

Diamond Offshore Drilling, Inc., strike
price $170, expires 12/22/08

 

 

(11,750

)

 

(300

)

Duvernay Oil Corp., strike price 60 CAD,
expires 11/24/08

 

 

(663,607

)

 

(300

)

Duvernay Oil Corp., strike price 61 CAD,
expires 11/24/08

 

 

(643,098

)

 

(10,000

)

EnCana Corp., strike price $85,
expires 11/20/08

 

 

(26,103

)

 

(15,000

)

EnCana Corp., strike price $90,
expires 11/20/08

 

 

(26,073

)

 

(25,000

)

EOG Resources, Inc., strike price $150.05,
expires 11/21/08

 

 

(16,965

)

 

(25,000

)

EOG Resources, Inc., strike price $155.05,
expires 11/21/08

 

 

(12,807

)

 

(40,000

)

Equitable Resources, Inc., strike price $66,
expires 11/21/08

 

 

(32,612

)

 

(47,500

)

Equitable Resources, Inc., strike price $67,
expires 11/21/08

 

 

(33,734

)

 

(15,000

)

Equitable Resources, Inc., strike price $71.81, expires 11/03/08

 

 

(3,403

)

 

(100,000

)

EXCO Resources, Inc., strike price $25.50,
expires 11/21/08

 

 

(407,990

)

 

(100,000

)

EXCO Resources, Inc., strike price $25.98,
expires 11/03/08

 

 

(354,310

)

 

(100,000

)

EXCO Resources, Inc., strike price $30.50,
expires 11/20/08

 

 

(223,150

)

 

(100,000

)

EXCO Resources, Inc., strike price $35.50,
expires 11/20/08

 

 

(114,050

)

 

(50,000

)

Forest Oil Corp., strike price $68, expires
11/21/08

 

 

(173,790

)

 

(20,000

)

Forest Oil Corp., strike price $76, expires
11/20/08

 

 

(39,542

)

 

(400

)

Galleon Energy, Inc., strike price 20 CAD,
expires 11/24/08

 

 

(26,368

)

 

(340,000

)

Genco Shipping & Trading Ltd., strike price $73.61, expires 11/03/08

 

 

(2,088,926

)

 

(600

)

Genco Shipping & Trading Ltd., strike
price $75, expires 11/18/08

 

 

(423,708

)

 

(38,000

)

Genco Shipping & Trading Ltd., strike price $76, expires 11/21/08

 

 

(261,239

)

 

(250

)

Goldcorp, Inc., strike price $49, expires
11/07/08

 

 

(24,027

)

 

(45,000

)

Goldcorp, Inc., strike price $50.50,
expires 11/03/08

 

 

(32,967

)

 

(150

)

Goodrich Petroleum Corp., strike price
$70, expires 12/22/08

 

 

(48,375

)

 

(30,000

)

Halliburton Co., strike price $45, expires
11/21/08

 

 

(120,252

)

 

(30,000

)

Halliburton Co., strike price $46, expires
11/21/08

 

 

(107,175

)

 

(150

)

Halliburton Co., strike price $51, expires
11/03/08

 

 

(23,208

)

 

(697

)

Helix Energy Solutions Group, Inc., strike
price $40, expires 12/22/08

 

 

(78,413

)

 

(75,000

)

Helmerich & Payne, Inc., strike price
$57.50, expires 11/21/08

 

 

(572,558

)

 

(25,000

)

Helmerich & Payne, Inc., strike price $63,
expires 11/03/08

 

 

(115,668

)

 

(125

)

Hess Corp., strike price $120, expires
11/24/08

 

 

(75,000

)

 

(60,000

)

Hess Corp., strike price $125, expires
11/20/08

 

 

(270,174

)

 

(200,000

)

Massey Energy Co., strike price $75, expires 11/04/08

 

 

(2,169,680

)

 

(500

)

Massey Energy Co., strike price $80,
expires 01/19/09

 

 

(627,500

)

2

 

 

Schedule of Investments July 31, 2008 (Unaudited)
(continued)

BlackRock Global Energy and
Resources Trust (BGR)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Contracts

 

Options Written

 

 

Value

 

 

 

 

Outstanding Call Options Written— (cont’d)

 

 

 

 

 

(200

)

National Oilwell Varco, Inc., strike price
$100, expires 11/24/08

 

$

(63,000

)

 

(40,000

)

National Oilwell Varco, Inc., strike price
$76, expires 11/21/08

 

 

(436,468

)

 

(100

)

National Oilwell Varco, Inc., strike price
$80, expires 08/18/08

 

 

(29,750

)

 

(40,000

)

National Oilwell Varco, Inc., strike price
$81, expires 11/21/08

 

 

(340,260

)

 

(25,000

)

Newfield Exploration Co., strike price
$61, expires 11/21/08

 

 

(50,452

)

 

(50,000

)

Newfield Exploration Co., strike price
$66, expires 11/21/08

 

 

(61,385

)

 

(690

)

Newfield Exploration Co., strike price
$67, expires 11/03/08

 

 

(57,263

)

 

(250

)

Newfield Exploration Co., strike price
$75, expires 12/22/08

 

 

(18,125

)

 

(27,000

)

Noble Corp., strike price $57.55, expires
11/21/08

 

 

(79,915

)

 

(300

)

Noble Corp., strike price $60, expires
01/19/09

 

 

(102,000

)

 

(25,000

)

Noble Corp., strike price $61, expires
11/21/08

 

 

(51,807

)

 

(100

)

Noble Corp., strike price $70, expires
12/22/08

 

 

(12,000

)

 

(100,000

)

NRG Energy, Inc., strike price $50,
expires 11/21/08

 

 

(23,710

)

 

(400

)

Occidental Petroleum Corp., strike
price $87, expires 11/03/08

 

 

(157,232

)

 

(20,000

)

Occidental Petroleum Corp., strike
price $88, expires 11/21/08

 

 

(84,940

)

 

(1,500

)

OceanFreight, Inc., strike price $26,
expires 11/03/08

 

 

(16,365

)

 

(200,000

)

Paragon Shipping, Inc., Class A, strike
price $20.50, expires 11/03/08

 

 

(40,780

)

 

(15,000

)

Patriot Coal Corp., strike price $42.50,
expires 11/03/08

 

 

(677,805

)

 

(100,000

)

Peabody Energy Corp., strike price
$68.37, expires 11/03/08

 

 

(802,540

)

 

(50,000

)

Peabody Energy Corp., strike price $75,
expires 11/20/08

 

 

(315,970

)

 

(1,000

)

Peabody Energy Corp., strike price $75,
expires 12/22/08

 

 

(760,000

)

 

(100,000

)

Penn Virginia Corp., strike price $61.42,
expires 11/03/08

 

 

(786,540

)

 

(50,000

)

Penn Virginia Corp., strike price $64.43,
expires 11/03/08

 

 

(333,535

)

 

(500

)

Penn Virginia Corp., strike price $80,
expires 12/22/08

 

 

(151,250

)

 

(225

)

PetroHawk Energy Corp., strike price
$55, expires 12/22/08

 

 

(34,875

)

 

(30,000

)

Petroleo Brasileiro S.A. (ADR), strike
price $68, expires 11/20/08

 

 

(44,292

)

 

(50,000

)

Petroleo Brasileiro S.A. (ADR), strike
price $70.50, expires 11/21/08

 

 

(56,750

)

 

(250

)

Plains All American Pipeline LP, strike
price $50, expires 11/24/08

 

 

(22,500

)

 

(50,000

)

Plains Exploration & Production Co.,
strike price $61, expires 11/21/08

 

 

(299,440

)

 

(50,000

)

Plains Exploration & Production Co.,
strike price $66, expires 11/21/08

 

 

(216,300

)

 

(12,000

)

Potash Corp. of Saskatchewan, strike
price $181, expires 11/21/08

 

 

(458,419

)

 

(200

)

Potash Corp. of Saskatchewan, strike
price $190, expires 01/19/09

 

 

(785,000

)

 

(200

)

Potash Corp. of Saskatchewan, strike
price $200, expires 09/22/08

 

 

(401,000

)

 

(55,000

)

Questar Corp., strike price $61, expires
11/21/08

 

 

(105,463

)

 

(10,000

)

Questar Corp., strike price $66.32,
expires 11/03/08

 

 

(7,100

)

 

 

 

 

 

 

 

 

Contracts

 

Options Written

 

 

Value

 

 

 

 

Outstanding Call Options Written—
(cont’d)

 

 

(150

)  

Range Resources Corp., strike price
$70, expires 01/19/09

 

$

(36,750

)

 

(38,700

)

Range Resources Corp., strike price
$71, expires 11/21/08

 

 

(48,797

)

 

(20,000

)

Range Resources Corp., strike price
$73.21, expires 11/30/08

 

 

(23,666

)

 

(65,000

)

Saipem S.p.A., strike price 32.45 EUR,
expires 11/04/08

 

 

(21,032

)

 

(30,000

)

SBM Offshore N.V., strike price 25.50
EUR, expires 11/04/08

 

 

(1,913

)

 

(100

)

Schlumberger Ltd., strike price $100,
expires 08/18/08

 

 

(41,000

)

 

(20,000

)

Schlumberger Ltd., strike price $100,
expires 11/21/08

 

 

(202,848

)

 

(100

)

Schlumberger Ltd., strike price $110,
expires 09/22/08

 

 

(28,250

)

 

(200

)

Schlumberger Ltd., strike price $110,
expires 11/24/08

 

 

(119,000

)

 

(10,000

)

Schlumberger Ltd., strike price $111.75,
expires 12/19/08

 

 

(61,331

)

 

(100

)

Schlumberger Ltd., strike price $120,
expires 11/24/08

 

 

(31,000

)

 

(1,500

)

Ship Finance Intl. Ltd., strike price $35,
expires 11/24/08

 

 

(63,750

)

 

(1,250

)

Silver Standard Resources, Inc., strike
price $35, expires 12/20/08

 

 

(215,625

)

 

(25,000

)

Silver Wheaton Corp., strike price
$20.50, expires 11/21/08

 

 

(4,442

)

 

(40,000

)

Southwestern Energy Co., strike price
$40, expires 11/05/08

 

 

(147,376

)

 

(30,000

)

Southwestern Energy Co., strike price
$41, expires 11/21/08

 

 

(101,670

)

 

(400

)

Southwestern Energy Co., strike price
$45, expires 11/17/08

 

 

(86,200

)

 

(400

)

Southwestern Energy Co., strike price
$50, expires 12/22/08

 

 

(76,000

)

 

(40,000

)

StatoilHydro ASA, strike price 188.64
NOK, expires 11/04/08

 

 

(37,019

)

 

(80,000

)

StatoilHydro ASA, strike price 205.70
NOK, expires 11/04/08

 

 

(32,713

)

 

(60,000

)

Talisman Energy, Inc., strike price $21,
expires 11/21/08

 

 

(43,890

)

 

(90,000

)

Talisman Energy, Inc., strike price $24,
expires 11/17/08

 

 

(21,519

)

 

(35,000

)

Tenaris S.A. (ADR), strike price $60,
expires 11/20/08

 

 

(212,310

)

 

(500

)

Transocean, Inc., strike price $170,
expires 11/24/08

 

 

(150,000

)

 

(100

)

Transocean, Inc., strike price $180,
expires 11/24/08

 

 

(17,500

)

 

(600

)

Weatherford Intl. Ltd., strike price
$42.50, expires 11/24/08

 

 

(142,500

)

 

(40,000

)

Weatherford Intl. Ltd., strike price $81,
expires 11/21/08

 

 

(122,296

)

 

(60,000

)

Weatherford Intl. Ltd., strike price
$90.50, expires 11/21/08

 

 

(93,162

)

Total Outstanding Call Options Written

 

 

(22,508,992

)

 

 

 

Outstanding Put Options Written—(0.1)%

 

 

 

 

 

(590

)

Goodrich Petroleum Corp., strike price
$47.50, expires 08/22/08

 

 

(324,282

)

 

(450

)

Goodrich Petroleum Corp., strike price
$60, expires 08/18/08

 

 

(661,500

)

 

(830

)

PetroHawk Energy Corp., strike price
$33, expires 08/22/08

 

 

(238,956

)


3

 

 

Schedule of Investments July 31, 2008 (Unaudited)
(continued)

BlackRock Global Energy and
Resources Trust (BGR)
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Contracts

 

Options Written

 

 

Value

 

 

 

 

Outstanding Put Options Written— (cont’d)

 

 

 

 

 

(680

)  

PetroHawk Energy Corp., strike price
$35, expires 08/18/08

 

$

(248,200

)

 

 

 

Total Outstanding Put Options Written

 

 

(1,472,938

)

 

 

 

Total Outstanding Options Written
(Premium Received—$37,572,733)—(2.1)%

 

 

(23,981,930

)

 

 

 

Total Investments Net of Outstanding Options Written—99.8%

 

 

1,160,894,472

 

 

 

 

 

 

 

 

 

 

 

 

Other Assets in Excess of Liabilities—0.2%

 

 

1,769,817

 

 

 

 

 

 

 

 

 

 

Net Assets—100.0%

 

$

1,162,664,289

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of July 31, 2008, as computed for federal income tax purposes, were as follows:


 

 

 

 

 

Aggregate cost

 

$

844,505,968

 

 

 

 

Gross unrealized appreciation

 

$

358,228,434

 

Gross unrealized depreciation

 

 

(17,858,000

)

 

 

 

Net unrealized appreciation

 

$

340,370,434

 

 

 

 

 

 

(a)

Security, or a portion thereof, pledged as collateral for outstanding options written.

 

 

(b)

Non-income producing security.

 

 

(c)

Security is fair valued.

 

 

(d)

Security, or a portion of security, is on loan.

 

 

(e)

Represents current yield as of report date.

 

 

(f)

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 

 

 Interest Income

 

BlackRock Liquidity Series, LLC Money Market Series

 

 

12,216,250

 

$ 357,878

 

 

 

(g)

Security purchased with the cash proceeds from securities loans.


 

KEY TO ABBREVIATIONS

 

ADR — American Depositary Receipt

CAD — Canadian Dollar

EUR — Euro

GBP — British Pound

NOK — Norwegian Krone


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 13a-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 Global Energy and Resources Trust
   
  By: /s/ Donald C. Burke  
    Donald C. Burke  
    Chief Executive Officer of  
    BlackRock Global Energy and Resources Trust  
   
    Date: September 19, 2008
   
    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/ Donald C. Burke  
    Donald C. Burke  
    Chief Executive Officer (principal executive officer) of  
    BlackRock Global Energy and Resources Trust  
   
    Date: September 19, 2008
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews  
    Chief Financial Officer (principal financial officer) of  
    BlackRock Global Energy and Resources Trust  
   
    Date: September 19, 2008