30Jan

Oil gives up gains after US GDP lags estimates (AP)

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NEW YORK ? Oil prices are flat with a report showed the U.S. economy grew at a slightly slower than expected pace in the fourth quarter.

The Commerce Department said Friday that the economy grew at a modest 2.8 percent in the final three months of last year. While that is the fastest growth in 2011, economists expected 3 percent growth.

Benchmark crude for March delivery was down 5 cents at $99.65 in early trading on the New York Mercantile Exchange. The price had risen above $100 a barrel earlier as the market continues to await the outcome of gamesmanship between Iran and Western nations.

Brent crude for March delivery rose 55 cents to $111.40 on the ICE Futures Exchange in London.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_bi_ge/oil_prices

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19Jan

Investing in Energy Services Stocks

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Investors: Get a free copy of our latest investment report: The Biggest Upside Stock in the Bakken Oil Formation. This junior company already has great operational success on its huge Bakken land position… and could very well be the next “Bakken Buyout.” CLICK HERE FOR THE FULL 12-PAGE REPORT.

Why the entire sector should see a rising tide of revenue and profits… for the next few years. The rapid increase in horizontal drilling and the shale revolution, the energy sector is re-defining the need and demand for North American energy services companies. This has created a work backlog that has the entire industry – drillers, fracking companies, fluid specialists, water services – stretched to the limit, which will keep revenue and profits rising for the sector for at least three years, say research analysts. Peters & Co., a Calgary based oil and gas boutique brokerage firm, estimates 2011 cash flow per share will increase 40% over 2010 for their coverage universe in the energy services sector – 40%. Securities firm Raymond James says oil and gas companies will increase spending 25% this year alone to US$133 billion. Even more, they estimate spending will have to increase by about 56% above 2011 levels, to roughly US$206 billion, as more powerful rigs are needed to drill deeper – and longer — horizontal wells. Oil & gas companies spend that money; energy services companies receive that money. It means the energy services sector will be one of the safest and most lucrative investment opportunities during that time. A rising tide of revenue and profits will lift all stocks, and create M&A activity that will also enrich investors. With oil back up over $100/barrel, oil producers are drilling as fast as they can. But the big difference between 2011 and 2007?

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Source: http://oilprice.com/Energy/Energy-General/Investing-in-Energy-Services-Stocks.html

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20Dec

Oil prices down slightly in light trading

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NEW YORK (AP) ? Oil prices are slightly lower, as traders close out positions for the year despite an encouraging report about U.S. housing that pointed to stronger oil demand.

Benchmark crude on Monday fell by 36 cents to $93.17 per barrel in morning trading in New York. Brent crude rose 5 cents to $103.40 per barrel in London.

Prices wavered after a private index showed that builders are less worried about the housing market this month. The report was a rare upbeat sign for the beleaguered industry.

Investors continued to sell their remaining investments in crude with only two, holiday-shortened weeks left in the year. Oil prices fell nearly 7 percent last week.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-12-19-Oil%20Prices/id-9d9bad22bbe24a2ab6c793982ff85785

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