Steady Oil and Gas Prices Point to Strong Dividends From Penn West Petroleum and Pengrowth
The Bedford Report Provides Equity Research on Penn West Petroleum & Pengrowth Energy
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/14/11 -- Oil and natural gas prices have been on the rise recently which bodes well for oil & gas explorers. Forecasts of cold weather approaching the Eastern Seaboard have helped drive natural gas prices up, as consumption looks poised to increase as temperatures drop. Stable oil and gas prices are critical to earnings in the Drilling and Exploration industry, which has helped high yielding plays like Penn West Petroleum and Pengrowth Energy maintain hefty dividends. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides equity research on Penn West Petroleum Limited (NYSE: PWE) (TSX: PWT) and Pengrowth Energy Corporation (NYSE: PGH) (TSX: PGF). Access to the full company reports can be found at:
A recent Reuters poll found that analysts have trimmed their US natural gas price estimates for 2011 and 2012 due to rising shale gas supplies, though increasing demand and a slowdown in drilling could lend support further out. Some expect production growth to slow in 2012 as producers finally slow drilling, but most analysts agreed projected gains in demand are not likely to be enough to soak up the excess supply.
New drilling techniques have resulted in an oversupply of Natural Gas, which has kept prices down since the recession.
The Bedford Report releases investment research on the Oil and Gas Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.
According to Natural Resources Canada, Canada is the world's third-largest producer and exporter of natural gas. As part of a fully integrated and continental natural gas market, Canada moves its natural gas resources "seamlessly" across provincial and national borders, from supply basins to demand centres.
Meanwhile, global average demand for crude oil reached 86.6 million barrels a day in 2010, the highest level since 2007 and is set to increase by almost two million barrels a day each year over the next two years, according to the latest Deloitte periodical publication, Middle East Point of View. Kuwait's Oil Minister Mohammad al-Baseeri said that based on OPEC estimates, world market demand is forecast to grow by between 1.0 and 1.5 million barrels per day "for the rest of this year and the beginning of next year."
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Datum: 14.11.2011 - 13:16 Uhr
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