Demand Downturn Yet to Affect SandRidge and ATP Oil & Gas
The Paragon Report Provides Equity Research on SandRidge Energy and ATP Oil & Gas
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/09/11 -- The Paragon Report examines investing opportunities in the Oil & Gas Sector and provides equity research on SandRidge Energy, Inc. (NYSE: SD) and ATP Oil & Gas Corporation (NASDAQ: ATPG). Access to the full company reports can be found at:
In the early days of September, oil prices have been on a downturn on concerns that the US could fall back into recession, and continuing anxiety about Eurozone debt levels. Eugen Weinberg, head of commodities research at Commerzbank in Frankfurt, argues that oil prices could be falling further were it not for growing optimism that the US central bank, the Federal Reserve, will announce new measures later this month to try to stimulate the US economy.
Despite a disappointing couple months, the price of oil remains exceptionally high. The latest Bord Gais Energy Index shows that wholesale prices are nearly 30 percent higher than this time last year.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Oil & Gas Sector register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
With oil prices remaining near 52 week highs, energy companies continue to boost production. Last month ATP Oil & Gas Corp said oil production has started at one of its deepwater Gulf of Mexico wells, with an initial rate of more than 7,000 barrels a day. The news caused a significant jump in shares of the company as Gulf of Mexico permits remain hard to come by in the wake of last year's Deep Water Horizon oil spill.
SandRidge Energy doubled oil production year-on-year in the second quarter, and raised its 2011 production guidance to 24.1 million barrels of oil equivalent, from a previous prediction of 23.3 MMBoe. SandRidge recently announced a joint venture with an affiliate of Korean investment firm Atinum Partners Co. to provide money to drill in SandRidge property in northern Oklahoma and southern Kansas.
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Datum: 09.09.2011 - 12:16 Uhr
Sprache: Deutsch
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