Magnum Hunter Resources and ATP Oil & Gas Look to Benefit From Transforming U.S. Energy Landscape
The Paragon Report Provides Equity Research on Magnum Hunter Resources & ATP Oil and Gas
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 02/13/12 -- North American Oil and Gas explorers have performed well in the early stages of 2012 as several companies intend to boost production this year. The iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund -- which seeks investment results corresponding to the performance of the oil exploration and production sub-sector of the United States equity market -- is up more than 10 percent year to date. The Paragon Report examines investing opportunities in the Oil & Gas Sector and provides equity research on Magnum Hunter Resources Corporation (NYSE: MHR) and ATP Oil & Gas Corporation (NASDAQ: ATPG). Access to the full company reports can be found at:
While North American oil and gas production is expected to skyrocket in the coming years, the Organization of the Petroleum Exporting Countries (OPEC) cut its world oil demand growth forecast last week due to economic weakness in Europe and the United States -- taking the opposite view to the U.S. government's energy forecaster and reflecting growing uncertainty over the outlook, Reuters reports.
OPEC, the source of more than a third of the world's oil, said global demand would rise in 2012 by 940,000 bpd, which is 120,000 bpd less than expected last month.
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Improvements in drilling techniques have transformed the U.S. energy landscape in recent years by unlocking the country's immense shale oil and gas reserves, Reuters reports. Last month the U.S. Energy Information Administration (EIA) said that the nation's boom in shale oil production will raise U.S. domestic crude output by a fifth over the next decade, helping to slash the country's dependence on foreign oil imports.
In his State of the Union speech last month, President Obama echoed these views, and assured the American people that he was in support of domestic energy production.
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Datum: 13.02.2012 - 13:20 Uhr
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