Marketnewsupdates.com: Trump Deregulation Creates Attractive Opportunities in Oil and Gas Companies
PALM BEACH, Florida, March 9, 2017 /PRNewswire/ --
OTC Stock Review published an article on SeekingAlpha.com, that included industry commentary based on the recent Oil & Gas developments, taking place in the Energy Sector that included companies such as: Independence Contact Drilling Inc. (NYSE: ICD), Patterson-UTI Energy Inc. (NASDAQ: PTEN), Petro River Oil (OTC: PTRC), Marathon Oil Corporation (NYSE: MRO) and Seadrill Partners LLC (NYSE: SDLP).
Trump's executive orders deregulating many of the hurdles that have stymied exploration over the past 8 years, including the opening of some federal lands that have been restricted, both onshore and offshore has given new hope for big oil and gas producers. Independent oil companies, looking to capitalize on Trump's de-regulation initiatives are taking the opportunity to flex their own not so dormant muscles, to capitalize on potential momentum in the oil drilling and exploration sector.
Three companies appear to benefit from this play, either through services or through opportunities from de-regulation of previously restricted lands. Independence Contact Drilling Inc. (NYSE:ICD), a land-based contract drilling services for oil and natural gas producers in the United State, Patterson-UTI Energy Inc. (NASDAQ:PTEN), an oilfield services company that primarily owns and operates in the United States, one of the largest fleets of land-based drilling rigs and a large fleet of pressure pumping equipment and Petro River Oil (OTC: PTRC), a New York based independent oil company with assets in Oklahoma, California and Western Europe most recently issued an approved Environmental Assessment from the Bureau of Indian Affairs (BIA), a final hurdle to drilling permits in Osage County, Oklahoma that the company has been developing for at least two years. (Read more news for Petro River Oil (PTRC) below)
Along with the Trump de-regulation initiatives, U.S. crude production recovery and how competitive domestic exploration and production becomes, seems to come from claims of newer exploration technology, cost savings from improvements and innovation while targeting vast oil reserves, mostly through shale play economics.
RS Energy Group, a firm that provides technically focused energy research, analysis and evaluation, stated that approximately $2.7 trillion was spent on unconventional and shale wells from 2000-2015, in the United States. While these numbers show a great confidence in the shale play, data from a majority of 25,990 shale wells shows break-even at greater than $60+ oil prices.
At today's oil prices, it is apparent that economics could play a larger role in oil and gas exploration than politics. OPEC and other non-OPEC nations, and their control on production and pricing, will continue to pressure US oil companies to strike deals with their contractors, and find ways of operating more efficiently at lower prices. Either way these smaller independents are bound to benefit from this new dynamic.
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Petro River Oil Corp. (OTC: PTRC) ("Petro River" or the "Company"), an independent oil and gas exploration company utilizing the latest 3-D seismic technology, announced on Wednesday that the Bureau of Indian Affair's (BIA), Branch of Enforcement and Lease Compliance has completed an Environmental Assessment (EA), 'concerning the approval of drilling permits', for the Company's Osage County, OK concession. Click here to read the document.
"This is one of the final hurdles needed to obtain drilling permits in Osage and we are pleased to be in compliance with the BIA, which issued a Finding of No Significant Impact concerning our Pearsonia West concession," said Stephen Brunner, President of Petro River Oil.
"We are fully funded for this phase of our Development program and look forward to the validation of our advanced technology exploration efforts," Brunner continued.Read the entire release at: http://marketnewsupdates.com/news/ptrc.html
In other Oil & Gas performances of note in the markets: Marathon Oil Corporation (NYSE: MRO) closed down slightly on Wednesday at $14.87 trading over 24.4 Million shares by the market close, and was up very slightly in afterhours trading. Marathon Oil operates as an energy company. It operates through three segments: North America E&P, International E&P, and Oil Sands Mining. The North America E&P segment develops, explores for, produces, and markets crude oil and condensate, natural gas liquids (NGLs), and natural gas in North America.
Seadrill Partners LLC (NYSE: SDLP) closed up on Wednesday at $3.09 trading over 1.2 Million shares by the market close. Seadrill Partners announced fourth quarter 2016 results recently highlighted by total operating revenues for the fourth quarter were $353.3 million (3Q16: $384.5 million). Total operating expenses for the fourth quarter were $188.5 million (3Q16: $180.5 million). Operating income was $164.8 million (3Q16: $204.0 million), reflecting lower revenues for the quarter and higher G&A expenses. Income from net financial items was $34.2 million (3Q16: expense of $37.3 million). Read more at http://finance.yahoo.com/news/sdlp-seadrill-partners-llc-announces-130201720.html
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