North American Oil Producers Look to Benefit as Margin Between West Texas Intermediate and Brent Crude Continues to Shrink
RDInvesting Provides Stock Research on Forest Oil and Rex Energy
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 03/20/13 -- North American oil and gas companies have benefitted from rising U.S. crude prices in 2013 as expanded pipelines and increased rail shipments have helped eased the supply glut. The iShares Dow Jones US Oil & Gas Exploration & Production ETF (IEO) has surged over 13 percent year-to-date. Research Driven Investing examines investing opportunities in the Oil & Gas Industry and provides equity research on Forest Oil Corporation (NYSE: FST) and Rex Energy Corporation (NASDAQ: REXX).
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The gap between West Texas Intermediate crude oil and Europe's Brent crude has fallen to its narrowest margin in eight months. Increased pipeline capacity has been a major contributor to rising U.S. oil prices. Later this this year the Seaway Pipeline, after experiencing some issues in January, will begin to increase shipments to the Gulf Coast. Additionally, the Longhorn pipeline has recently reversed flow and has begun sending oil to refineries along the Gulf Coast. Since reaching a record of 51.9 million barrels in January, inventories at the Cushing, Oklahoma transport hub have fallen to 49.3 million barrels.
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Forest primarily operates in three core regions located in the Texas Panhandle Area, the Eagle Ford Shale in South Texas, and the East Texas / North Louisiana Area. For 2013, the company expects net sales volumes to average 220 to 230 MMcfe/d, and is estimated to be comprised of approximately 60% natural gas and 40% liquids.
Rex Energy is an independent oil and gas exploration and production company operating in the Appalachian and Illinois Basins within the United States. The company recently announced the Guernsey 2H well tested at a peak 24-hour rate of 2,968 Boe/d and the Noble 1H tested at a peak 24-hour rate of 2,938 Boe/d.
Research Driven Investing has not been compensated by any of the above-mentioned publicly traded companies. Research Driven Investing is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 20.03.2013 - 07:20 Uhr
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