Offshore drilling technology has opened the door to drill for oil in places we never thought possible, and in some cases in places where we had not found oil previously. This, and the desire for the U.S. to become more energy independent, has put drilling for oil off the Atlantic Coast on the table again. The American Petroleum Institute has been gathering a coalition of members of Congress to push for offshore leases in Virginia, North Carolina, and South Carolina.
The U.S. had plans to open up offshore fields off the Virginia coast as recently as 2010, but those were put on hold after the Macondo spill incident. In this video, Fool.com contributors Tyler Crowe and Aimee Duffy look at some of the companies that could take advantage of this new market, as well as some of the other offshore energy projects happening on the East Coast.
Top 10 Oil Companies To Own In Right Now: Occidental Petroleum Corporation(OXY)
Occidental Petroleum Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company primarily in the United States. The company operates in three segments: Oil and Gas; Chemical; and Midstream, Marketing, and Other. The Oil and Gas segment explores for, develops, produces, and markets crude oil, natural gas liquids, and condensate and natural gas. Its domestic oil and gas operations are located in Texas, New Mexico, California, Kansas, Oklahoma, Utah, Colorado, North Dakota, and West Virginia; and international oil and gas operations are located in Bahrain, Bolivia, Colombia, Iraq, Libya, Oman, Qatar, the United Arab Emirates, and Yemen. As of December 31, 2010, this segment had proved reserves of approximately 3,363 million barrels of oil equivalent. The Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, and ethylene dichloride products; vinyls, such as vinyl chloride monomer and polyvinyl chloride; and other chemicals comprising chlorinated isocyanurates, resorcinol, sodium silicates, and calcium chloride products. The Midstream, Marketing, and Other segment gathers, treats, processes, transports, stores, purchases, and markets crude oil that includes natural gas liquids and condensate, as well as natural gas and carbon dioxide. This segment also involves in the power generation; and trades around its assets comprising pipelines and storage capacity, as well as oil and gas, other commodities, and commodity-related securities. Occidental Petroleum Corporation was founded in 1920 and is based in Los Angeles, California.
Advisors' Opinion: - [By Dividend]
Occidental Petroleum (OXY) has a market capitalization of $68.80 billion. The company employs 12,300 people, generates revenue of $24.253 billion and has a net income of $4.272 billion. Occidental Petroleum�� earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $13.802 billion. The EBITDA margin is 56.91 percent (the operating margin is 30.47 percent and the net profit margin 17.61 percent).
Top 10 Oil Companies To Own In Right Now: Whiting Petroleum Corporation(WLL)
Whiting Petroleum Corporation engages in the acquisition, development, exploitation, exploration, and production of oil and gas primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast, and Michigan regions of the United States. As of December 31, 2010, its estimated proved reserves were 304.9 million barrels equivalent of oil; and had interests in 9,698 gross productive wells covering approximately 1,115,000 gross developed acres. The company sells its oil and gas to end users, marketers, and other purchasers. Whiting Petroleum Corporation was founded in 1983 and is Denver, Colorado.
Advisors' Opinion: - [By Lee Jackson]
Whiting Petroleum Corp. (NYSE: WLL) reviewed recent achievements in the Bakken shale, including a 1,000 barrel per day test in Missouri Breaks driven by the new completion formula it had recently discussed on its second-quarter earnings conference call. The Raymond James price target is at $63, and the consensus target for Whiting is $62.
- [By Tony Daltorio]
They constitute some of the best investments in energy now. Notice how they dominate a list of the leading producers in the three most prolific oil basins over the last year:
Bakken: Continental Resources Inc. (NYSE: CLR), Whiting Petroleum Corp. (NYSE: WLL), and Hess Corp. (NYSE: HES). Permian Basin: Occidental Petroleum Corp. (NYSE: OXY), Pioneer Natural Resources (NYSE: PXD), and Apache Corp. (NYSE: APA). Eagle Ford: EOG Resources Inc. (NYSE: EOG), ConocoPhillips (NYSE: COP), Cabot Oil & Gas Corp. (NYSE: COG), and Chesapeake Energy Corp. (NYSE: CHK). Two stocks from this list that investors should focus on are EOG Resources and Cabot Oil & Gas.
- [By Lee Jackson]
Whiting Petroleum Corp. (NYSE: WLL) really is stepping up to the plate on spending this year. In addition to being one of the top stocks held by legendary energy investor T. Boone Pickens, it is expected to spend almost $2.4 billion this year to expand production. The consensus price target for the stock is $62. A move to the target would be a 20% gain for shareholders.
- [By Robert Rapier]
Whiting Petroleum (WLL) is one of Continental's biggest competitors in the Bakken. Whiting is the second-largest oil producer in North Dakota, averaging 82,500 barrels of oil equivalent (BOE) of production in 2012, across more than 700,000 acres of leased land.
Abraxas Petroleum Corporation is an independent energy company primarily engaged in the acquisition, exploitation, development and production of oil and gas in the United States and Canada. As of December 31, 2011, the Company�� estimated net proved reserves were 29.0 million barrels of oil equivalent (MMBoe), (including reserves attributable to its 34.7% equity interest in the proved reserves of Blue Eagle), of which 53% were classified as proved developed, 54% were oil and natural gas liquids (NGL��) and 94% by PV-10 were operated. Its daily net production during the year ended December 31, 2011, was 3,484 barrels of oil equivalent per day, of which 45% was oil or liquids. Its oil and gas assets are located in four operating regions in the United States, the Rocky Mountain, Mid-Continent, Permian Basin and onshore Gulf Coast, and in the province of Alberta, Canada.
The Company�� properties in the Rocky Mountain region are located in the Williston Basin of North Dakota and Montana and in the Green River, Powder River and Unita Basins of Wyoming and Utah. In this region, its wells produce oil and gas from various reservoirs, including the Niobrara, Turner, Bakken and Three Forks formations. Well depths range from 7,000 feet down to 14,000 feet. The Company�� properties in the Mid-Continent region are primarily located in the Arkoma Basin and principally produce gas from the Hartshorne coals at 3,000 feet. Its properties in the Permian Basin region are primarily located in two sub-basins, the Delaware Basin and the Eastern Shelf. In the Delaware Basin, its wells are located in Pecos, Reeves, and Ward Counties, Texas and produce oil and gas from multiple stacked formations from the Bell Canyon at 5,000 feet down to the Ellenburger at 16,000 feet.
In the Eastern Shelf, its wells are principally located in Coke, Scurry, Midland, Mitchell and Nolan Counties, Texas and produce oil and gas from the Strawn Reef formation at 5,000 to 7,500 feet and oil from the shallower Clea! rfork formation at depths ranging from 2,300 to 3,300 feet. The Company�� properties in the onshore Gulf Coast region are located along the Edwards trend in DeWitt and Lavaca Counties, Texas and in the Portilla field in San Patricio County, Texas. In the Edwards trend, its wells produce gas from the Edwards formation at a depth of 14,000 feet and in the Portilla field, its wells produce oil and gas from the Frio sands and the deeper Vicksburg from depths of approximately 7,000 to 9,000 feet. In addition, the Company also owns a 34.7% equity interest in a joint venture targeting the Eagle Ford in South Texas. Its properties in the province of Alberta, Canada are located in the Pekisko fairway and the Nordegg/Tomahawk area of Central Alberta.
As of December 31, 2011, the Company leased approximately 20,835 net acres, primarily in counties located on the Nesson Anticline and in areas west, including Rough Rider and Lewis & Clark in North Dakota and in Sheridan County, Montana, which are prospective for the Bakken and Three Forks formations. During the year ended December 31, 2011, the Company drilled two operated wells and participated in an additional 19 gross (1.0 net) non-operated wells. In July 2011, Abraxas purchased a used Oilwell 2000 horsepower diesel electric drilling rig. In August 2010, the Company formed a joint venture, Blue Eagle, with Rock Oil to develop its acreage in the Eagle Ford Shale play. As of December 31, 2011, the Company owned a 34.7% interest in Blue Eagle. During 2011, Blue Eagle drilled, completed or participated in three gross (2.4 net) wells and added approximately 3,800 net acres to its holdings, principally in McMullen County, Texas.
As of December 31, 2011, the Company leased a total of approximately 20,720 gross (17,800 net) acres in the southern Powder River Basin, of which 17,800 gross (15,700 net) acres were located in the Brooks Draw field of Converse and Niobrara Counties, Wyoming. In addition, it owns approximately 2,100 net acres in sout! hern Camp! bell County, Wyoming which are held by production and are near the Crossbow field operated by EOG Resources, Inc. and other recent horizontal activity. As of December 31, 2011, the Company leased 6,880 net acres in western Alberta. In 2011, it drilled or completed six gross (6 net) wells in the Twining area. In the emerging southern Alberta Basin Bakken play of Toole and Glacier Counties, Montana, the Company leased approximately 10,000 gross/net acres under long-term leases or direct mineral ownership. As of December 31, 2011, it leased approximately 5,600 gross/net acres in Nolan County, Texas. In 2011, the Company drilled three wells in the Spires Ranch offsetting the prolific Nena Lucia field.
Top 10 Oil Companies To Own In Right Now: BMB Munai Inc (BMBM)
BMB Munai, Inc., incorporated in July 1981, focuses on oil and natural gas exploration and production in the Republic of Kazakhstan (Kazakhstan) through a wholly owned operating subsidiary, Emir Oil LLP, (Emir Oil). Emir Oil holds an exploration contract that allowed exploration drilling and oil production in the Mangistau Province in the southwestern region of Kazakhstan. On February 14, 2011 the Company entered into a Participation Interest Purchase Agreement (the Purchase Agreement) with MIE Holdings Corporation (MIE), and its subsidiary, Palaeontol B.V (Palaeontol), pursuant to which the Company agreed to sell all of its interest in Emir Oil to Palaeontol (the Sale). On September 19, 2011, the Company completed the sale of all of its interests in Emir Oil LLP to a subsidiary of MIE Holdings Corporation. The operations of Emir Oil LLP is classified as discontinued.
The initial distribution amount was determined after giving effect to the estimated closing adjustments, Escrow amount, repayment of the Convertible Senior Notes, and after providing for the payment of or reserve for other anticipated liabilities and transaction costs. In February 2012 the Company entered into a Management Services Agreement (Services Agreement) with Lakeview International, LLC (Lakeview). Pursuant to the Services Agreement, Lakeview is providing management, administrative and support personnel and services to the Company.
Top 10 Oil Companies To Own In Right Now: Southern Union Company(SUG)
Southern Union Company, together with its subsidiaries, engages in the gathering, processing, transportation, storage, and distribution of natural gas in the United States. It operates in three segments: Transportation and Storage, Gathering and Processing, and Distribution. The Transportation and Storage segment engages in the interstate transportation and storage of natural gas in the Midwest and from the Gulf Coast to Florida. It also provides liquefied natural gas (LNG) terminalling and regasification services. The Gathering and Processing segment involves in gathering, treating, processing, and redelivering natural gas and natural gas liquids (NGLs) in Texas and New Mexico. It operates a network of approximately 5,500 miles of natural gas and NGL pipelines, 4 cryogenic processing plants with a combined capacity of 415 MMcf/d, and 5 natural gas treating plants with a combined capacity of 585 MMcf/d. The Distribution segment engages in the local distribution of natural gas in Missouri and Massachusetts. This segment serves residential, commercial, and industrial customers through local distribution systems. The company was founded in 1932 and is based in Houston, Texas.
Top 10 Oil Companies To Own In Right Now: Caiterra International Energy Corp (CTI.V)
CaiTerra International Energy Corporation (Caiterra), formerly Cyterra Capital Corp., is a Canada-based company is engaged in the exploration and development of oil and gas properties. The Company�� project includes Faust, Amadou and Lac La Biche. On March 9, 2012, the Company completed its qualifying transaction with West Pacific Petroleum Inc. (WPP), pursuant to which the Company acquired all of WPP�� working interests in certain petroleum and natural gas leases and an oil sand lease in the Lac La Biche and Amadou Projects located in Alberta, Canada and certain other assets (the QT Oil and Gas Properties) from West Pacific Petroleum Inc. (WPP). On December 17, 2012 the Company acquired the Faust Property located just north of the Swan Hills oil field and south of the Town of Slave Lake.
Top 10 Oil Companies To Own In Right Now: Statoil ASA (STO)
Statoil ASA (Statoil), incorporated on September 18, 1972, is an integrated energy company primarily engaged in oil and gas exploration and production activities. As of December 31, 2011, the Company had business operations in 41 countries and territories. Effective from January 1, 2011, the Company�� segments were Development and Production Norway; Development and Production International; Marketing, Processing and Renewable Energy; Fuel & Retail, Other. As of 31 December 2011, the Company had proved reserves of 2,276 million barrels (mmbbl) and 3,150 billion cubic meters (bcm) (equivalent to 17,681 trillion cubic feet (tcf)) of natural gas, corresponding to aggregate proved reserves of 5,426 mmboe. In December 2011, the Company acquired Brigham Exploration Company. On April 14, 2011, Statoil's formation of a joint venture and sale of 40% of the Peregrino field off the coast of Brazil to the Sinochem Group was closed. With effect from January 2011, Statoil formed a joint venture with PTTEP of Thailand in its oil sands business and, as part of that transaction, sold PTTEP a 40% interest in the leases in Alberta, Canada. Statoil retains 60% ownership and operatorship of the oil sands project. In June 2012, the Company divested its 54% interest in Statoil Fuel & Retail ASA to Alimentation Couche-Tard.
Development and Production Norway
Development and Production Norway (DPN) consists of the Company�� field development and operational activities on the Norwegian continental shelf (NCS). Development and Production Norway is the operator of 44 developed fields on the NCS. Statoil's equity and entitlement production on the NCS was 1.316 mmboe per day in 2011, which was about 71% of Statoil's total production. Acting as operator, DPN is responsible for approximately 72% of all oil and gas production on the NCS. In 2011, its average daily production of oil and natural gas liquids (NGL) on the NCS was 693 mboe, while its average daily gas production on the NCS was 99.1 mmcm (3.5 b! illion cubic feet (bcf)). The Company has an ownership interests in exploration acreage throughout the licensed parts of the NCS, both within and outside its production areas. It participates in 227 licenses on the NCS and is the operator for 171 of them. As of 31 December 2011, Statoil had a total of 1,369 mmbbl of proved oil reserves and 444 bcm (15.7 tcf) of proved natural gas reserves on the NCS. Total entitlement liquids and gas production in 2011 amounted to 1,316 mmboe per day.
Statoil's NCS portfolio consists of licenses in the North Sea, the Norwegian Sea and the Barents Sea. It has organized its production operations into four business clusters: Operations South, Operations North Sea West, Operations North Sea East and Operations North. The Operations South and Operations North Sea West and East clusters cover its licenses in the North Sea. Operations North covers the Company�� licenses in the Norwegian Sea and in the Barents Sea, while partner-operated fields cover the entire NCS and are included internally in the Operations South business cluster. During 2011, it two Statoil-operated oil discoveries: the Aldous discovery (PL265) in the North Sea and the Skrugard discovery (PL532) in the Barents Sea. The Aldous Major South discovery in PL265 on the Utsira Height in the Sleipner area is situated 140 kilometers west of Stavanger and 35 kilometers south of the Grane field. The Skrugard discovery is located about 250 kilometers off the coast from the Melkoya LNG plant in Hammerfest.
As of December 31, 2011, the Company�� fields under development included the Gudrun, Valemon, Visund South, Hyme, Stjerne, Vigdis North-East, Skuld, Vilje South, Skarv, and Marulk. In 2011, the Company�� total entitlement oil and NGL production in Norway was 252 mmbbl, and gas production was 36.2 bcm (1,287 bcf). The main producing fields in the Operations South area are Statfjord, Snorre, Tordis, Vigdis, Sleipner and partner-operated fields. Operations North Sea East is a gas area tha! t also co! ntains quantities of oil. The area includes the Troll, Fram, Vega, Oseberg and Tune fields. The Company�� producing fields in the Operations North area are Asgard, Mikkel, Yttergryta, Heidrun, Kristin, Tyrihans, Norne, Urd, Alve, Njord, Snohvit and Morvin.
Development and Production International
Development and Production International (DPI) is responsible for the development and production of oil and gas outside the Norwegian continental shelf (NCS). In 2011, the segment was engaged in production in 12 countries: Canada, the United States, Brazil, Venezuela, Angola, Nigeria, Iran, Algeria, Libya, Azerbaijan, Russia and the United Kingdom. In 2011, DPI produced 28.9% of Statoil's total equity production of oil and gas. Statoil has exploration licenses in North America (Gulf of Mexico, Canada and Alaska), South America and sub-Saharan Africa (Brazil, Cuba, Suriname, Venezuela, Angola, Mozambique and Tanzania), Middle East and North Africa (Libya and Iran) and Europe and Asia (the Faeroes, Greenland, the United Kingdom, Azerbaijan and Indonesia). The main sanctioned development projects in which DPI is involved are in the United States, Angola and Canada. The Brigham Exploration Company acquisition added production of approximately 21 mboe per day (as of December) to Statoil's production and gave access to 1,500 square kilometers (375,000 acres) in the Bakken and Three Forks formations in the Williston Basin.
The Company has exploration licenses in North America (Gulf of Mexico, Canada and Alaska), South America and sub-Saharan Africa (Brazil, Cuba, Suriname, Venezuela, Angola, Mozambique and Tanzania), Middle East and North Africa (Libya and Iran), and Europe and Asia (the Faroes, Greenland, the United Kingdom, Azerbaijan and Indonesia). It completed 16 wells in 2011. Five were announced as discoveries: the Mukuvo and Lira discoveries in Angola, the Gavea and Peregrino South discovery in Brazil and the Logan discovery in Gulf of Mexico (GoM). Statoil acquired in! terests i! n six new licenses in Indonesia in 2011. Statoil has activities in the United States, with approximately 300 exploration leases in the GoM and 66 in Alaska. It is also an operator and partner in exploration licenses off the coast of Newfoundland in Canada. Statoil is operator and partner in exploration licenses off the coast of Newfoundland (11,138 square kilometers). It has exploration licenses in Brazil, Cuba, Suriname, Venezuela, Angola, Mozambique and Tanzania. The Company has licenses in Libya, Iran, Faroes, Greenland, the United Kingdom, Azerbaijan and Indonesia. In 2011, Statoil's petroleum production outside Norway amounted to an average of 334 mboe per day of entitlement production and 534 mboe per day of equity production.
The Company has activities in the United States Gulf of Mexico, the Appalachian region, south-west Texas, the Williston Basin, off the East Coast of Canada and in the oil sands of Alberta, Canada. It also has a representative office in Mexico City. Offshore, the Company has production interests in Hibernia and Terra Nova, and interests in two development projects. Its development and production activities in South America and sub-Saharan Africa comprise the Peregrino operatorship in Brazil, the Petrocedeno project in Venezuela, the Agbami offshore field in Nigeria and four Angolan offshore blocks. Statoil's development and production in the Middle East and North Africa in 2011, primarily encompassed Algeria, Libya, Egypt, Iran and Iraq. The Company�� Development and Production in Europe and Asia primarily comprises Azerbaijan, Russia, United Kingdom and Ireland.
Marketing, Processing and Renewable Energy
Marketing, Processing and Renewable Energy (MPR) is responsible for the transportation, processing, manufacturing, marketing and trading of crude oil, natural gas, liquids and refined products, and for developing business opportunities in renewables. It runs two refineries, two gas processing plants, one methanol plant and three crude! oil term! inals. MPR is also responsible for marketing gas supplies originating from the Norwegian state's direct financial interest (SDFI). In total, it is responsible for marketing approximately 80% of all Norwegian gas exports. In 2011, Statoil sold 36.1 bcm (1.3 tcf) of natural gas from the Norwegian continental shelf (NCS) on its own behalf, in addition to approximately 33.5 bcm (1.2 tcf) of NCS gas on behalf of the Norwegian state. Statoil's total European gas sales, including third-party gas, amounted to 79.8 bcm (2.9 tcf) in 2011, of which 39.5 bcm (1.4 tcf) was gas sold on behalf of the Norwegian state. The Natural Gas business cluster is responsible for Statoil's marketing and trading of natural gas worldwide, for power and emissions trading and for overall gas supply planning. In 2011, the Company sold 36.1 bcm (1.3 tcf) of natural gas from the NCS on its own behalf, in addition to approximately 33.5 bcm (1.2 tcf) of NCS gas on behalf of the Norwegian state. Statoil's total European gas sales, including third-party gas, amounted to 79.8 bcm (2.9 tcf) in 2011, of which 39.5 bcm (1.4 tcf) was gas sold on behalf of the Norwegian state. In addition, it sold 5.5 bcm (0.2 tcf) of gas originating from its international positions, mainly in Azerbaijan and the United States, of which 2.7 bcm (0.1 tcf) was entitlement gas. As technical service provider (TSP), Statoil is responsible for the operation, maintenance and further development of the Karsto gas processing plant on behalf of the operator Gassco.
Statoil is the seller of crude oil, operating from sales offices in Stavanger, Oslo, London, Singapore, Stamford and Calgary and selling and trading crude oil, condensate, NGL and refined products. Statoil holds the lease for the South Riding Point crude oil terminal in the Bahamas, which includes, oil storage as well as loading and unloading facilities. It also operates the Mongstad terminal and has shared ownership with Petoro. The Company is a majority owner (79%) and operator of the Mongstad ref! inery in ! Norway, which has a crude oil and condensate distillation capacity of 220,000 barrels per day. It is the sole owner and operator of the Kalundborg refinery in Denmark, which has a crude oil and condensate distillation capacity of 118,000 barrels per day. In addition, it has rights to 10% of production capacity at the Shell-operated refinery in Pernis in the Netherlands, which has a crude oil distillation capacity of 400,000 barrels per day. The Company�� methanol operations consist of an 81.7% interest in the gas-based methanol plant at Tjeldbergodden, Norway, which has a design capacity of 0.95 million tons per year. It also operates the Oseberg Transportation System (36.2% interest), including the Sture crude oil terminal.
Technology, Projects and Drilling
Technology, Projects and Drilling (TPD) is responsible, as a global service provider to Statoil, for delivering projects and wells and for providing support through global expertise, standards and procurement. TPD is also responsible developing and implementing new technological solutions. Statoil's research and development portfolio is organized in seven programs covering the upstream building blocks. The research and development organization operates and develops laboratories and test facilities and has an academia program that addresses cooperation with universities and research institutes.
Global Strategy and Business Development
Global Strategy and Business Development (GSB) was established in 2011, with its main office in London. GSB sets the direction for Statoil and identifies, develops and delivers opportunities for global growth.
Advisors' Opinion: - [By Jon C. Ogg]
Statoil ASA�(NYSE: STO) was raised to Buy from Neutral at BofA/Merrill Lynch.
Workday Inc. (NYSE:�WDAY) was reiterated as Buy with a price target raised to $85 from $75 at Canaccord Genuity.
- [By Cameron Swinehart]
Going forward I will be looking to add investments on my watchlist and trim other positions. It will be interesting to see how an overweight commodity portfolio will perform relative to the rest of the market.
Cost Basis# SharesCurrent Price% of PortfolioCurrent ValueReturnMetal/Miners Sprott Physical Gold Trust (PHYS)$12.4985$11.043.75%$938.40-13.13%Sprott Physical Silver Trust (PSLV)$7.95125$8.744.37%$1,092.509.04%FreePort-McMoran (FCX)$31.6731$33.874.20%$1,049.976.50%Ishares MSCI Global Gold Miners ETF (RING)$13.0695$10.644.04%$1,010.80-22.74%Energy Statoil ASA(STO)$21.7940$22.683.63%$907.203.92%Vanguard Natural Resources LLC (VNR)$27.5636$27.874.01%$1,003.321.11%ConocoPhillips (COP)$63.6822.43$71.006.37%$1,592.5310.31%Agriculture CVR Partner LP (UAN)$26.3630.9$18.932.34%$584.94-39.25%Adecoagro$6.78125$7.443.72%$930.008.87%Archer-Daniels Midland (ADM)$34.8030$37.244.47%$1,117.206.55%Mixed Commodity Powershares DB Commodity Index (DBC)$26.3540$25.954.15%$1,038.00-1.54%Sprott Resource Corp$3.34400$2.714.34%$1,084.00-23.25% Total % of portfolio49.40% Cost Basis12,666.00 Current Value12,348.86 Return-2.50% Source: Investing For The Future Surge In Commodity Prices Disclosure: I am long ADM, FCX, UAN, AGRO, RING, VNR, SCPZF.PK, COP, DBC, PHYS, PSLV. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. (More...)
Top 10 Oil Companies To Own In Right Now: New Concept Energy Inc (GBR)
New Concept Energy, Inc. (New Concept), incorporated on May 30, 1991 in, owns and operates oil and gas wells in Ohio and West Virginia. The Company, through its wholly owned subsidiaries Mountaineer State Energy, Inc. and Mountaineer State Operations, LLC. operates oil and gas wells and mineral leases in Athens and Meigs Counties in Ohio and in Calhoun, Jackson and Roane Counties in West Virginia. As of March 30, 2012, the Company had 159 producing gas wells, 27 non-producing wells and related equipment and mineral leases covering approximately 20,000 acres. The Company operates in two primary business segments: oil and gas operations and retirement facilities.
During the year ended December 31, 2011, the Company had drilled eight wells. New Concept focuses on North American onshore oil and natural gas drilling and exploration. The Company's properties are concentrated in the Appalachian Basin, Fort Worth Basin, and the Arkoma Basin. The Company leases and operates Pacific Pointe Retirement Inn (Pacific Pointe) in King City, Oregon. Pacific Pointe has a capacity of 114 residents and provides community living with basic services, such as meals, housekeeping, laundry, 24/7 staffing, transportation and social and recreational activities.
Top 10 Oil Companies To Own In Right Now: Marathon Oil Corporation(MRO)
Marathon Oil Corporation, through its subsidiaries, operates as an international energy company with operations in the United States, Canada, Africa, the Middle East, and Europe. It operates through three segments: Exploration and Production, Oil Sands Mining, and Integrated Gas. The Exploration and Production segment explores for, produces, and markets liquid hydrocarbons and natural gas. The Oil Sands Mining segment mines, extracts, and transports bitumen from oil sands deposits in Alberta, Canada; and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. The Integrated Gas segment markets and transports products manufactured from natural gas, such as liquified natural gas and methanol. The company was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in July 2001. Marathon Oil Corporation was founded in 1887 and is based in Houston, Texas.
Advisors' Opinion: - [By Jon C. Ogg]
Marathon Oil Corp. (NYSE: MRO) was downgraded to Neutral from Buy at BofA/Merrill Lynch.
Zillow Inc. (NASDAQ: Z) was downgraded to Sector Perform from Outperform at RBC Capital Markets.
- [By Rich Smith]
Houston-based Marathon Oil (NYSE: MRO ) is about to get a new CFO.
On Tuesday, Marathon announced that after nearly 10 years at her post, Chief Financial Officer Janet F. Clark intends to step down on Sept. 3, and to retire from the company entirely on Oct. 1. Replacing her will be new hire John R. Sult, a former executive at El Paso Corp., and currently a director of Dynegy.
- [By Joshua Bondy]
The smaller players
Marathon Oil (NYSE: MRO ) recently spun off its downstream assets into Marathon Petroleum. Marathon Oil's development of the Bakken and Eagle Ford are the main changes boosting its production volumes. Year-over-year, its second quarter U.S. volumes increased 38%. The Eagle Ford alone averaged 80 Mboepd and the Bakken averaged 39 Mboepd.
Top 10 Oil Companies To Own In Right Now: Imperial Oil Limited(IMO)
Imperial Oil Limited engages in the exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment engages in the exploration and production of conventional crude oil, natural gas, synthetic oil, and bitumen primarily in the Western Provinces, the Canada Lands, and the Atlantic Offshore. Its primary conventional oil producing asset includes the Norman Wells oil field in the Northwest Territories. The Downstream segment engages in the transportation and refining of crude oil, as well as blending, distribution, and marketing of refined products. It owns and operates crude oil, and natural gas liquids and products pipelines in Alberta, Manitoba, and Ontario. The Chemical segment engages in the manufacture and marketing of various petrochemicals, including ethylene, benzene, aromatic and aliphatic solvents, plasticizer intermediates, and polyethylene resin. As of De cember 31, 2010, Imperial Oil Limited had 1,204 million oil-equivalent barrels of proved undeveloped reserves; maintained a nation-wide distribution system, including 24 primary terminals, to handle bulk and packaged petroleum products moving from refineries to market by pipeline, tanker, rail, and road transport; and sold petroleum products through 1,850 Esso retail service stations, of which approximately 510 were company owned or leased. The company was founded in 1880 and is headquartered in Calgary, Canada. Imperial Oil Limited operates as a subsidiary of Exxon Mobil Corporation.
Advisors' Opinion:
