Growing Concerns of Euro Zone Crisis Sends Oil Prices Sliding
The Paragon Report Provides Stock Research on GMX Resources and Samson Oil & Gas
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/09/12 -- To kick off the week oil prices have dropped to their lowest levels of the year as election results in Europe raised concerns for the region's plan for economic recovery. France and Greece rejected leaders who supported austerity measures to repair Europe's struggling economy. Benchmark U.S. crude dropped as low as $95.34 per barrel this past Monday, the lowest price since Feb. 2. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on GMX Resources Inc. (NYSE: GMXR) and Samson Oil & Gas Limited (NYSE: SSN).
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Oil & Gas companies, for the most part, have posted respectable earnings in the most recent quarter. The higher crude prices helped offset record low natural gas prices that have resulted from high levels of production coming from shale operations. The markets have not been kind to natural gas, but data would seem to indicate the underperformance is more related to the supply glut in the natural gas market. Demand for natural gas has increased, but these increases have not been able to keep pace with supply. The supply glut is primarily driven by a rapid rise in drilling rig utilization, as well as technological improvements in horizontal drilling & hydraulic fracturing techniques.
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In the first quarter of 2012, GMX Resources achieved an average oil production of 341 barrels/day (Bbls/d). The Company estimates for the month of June 2012, oil production will be approximately 1,100 Bbls/d, representing a 224% increase over the 2012 first quarter average. Total production for the first quarter 2012 was 596,000 BOE, which includes 31,000 Bbls of oil and 146,000 Bbls of NGLs.
Samson Oil & Gas Limited is a USA/Australian oil & gas company focusing on oil production in the Niobrara and Bakken formations in the USA. Samson's business strategy is to create value by exploiting its Niobrara and Bakken acreage position. The company recently reported for the quarter ending March 31, 2012 oil production up 25 percent from previous quarter to 23,833 barrels, and estimated revenues from oil and gas sales were up 25 percent to $2.4 million.
Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 09.05.2012 - 12:20 Uhr
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