SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Sep 13, 2012) - Oil and Gas exploration stocks have been on an impressive run as crude prices have rallied sharply in recent months. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has surged more than 22 percent in the last three months, handily outperforming the Dow Jones Industrial Average over the same period. Five Star Equities examines the outlook for companies in the Oil & Gas Industry and provides equity research on Lucas Energy, Inc. (NYSE: LEI) and Samson Oil & Gas Limited (NYSE: SSN).
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The Organization of the Petroleum Exporting Countries (OPEC) in their monthly report forecasted oil demand to rise in 2012 and the next. In their monthly report OPEC forecasted global oil demand to increase by 900,000 barrels a day in 2012 and another 800,000 in 2013. During August OPEC produced an average of 254,000 barrels more a day than in July for a total of 31.41 million barrels.
"It's been an impressive performance. And when you put this month's number up against OPEC's own prediction that it is going to need to produce about 30.5 million b/d in the fourth quarter, which is always the heaviest demand period of the year, it should ease fears of tight crude supplies," said John Kingston, Platts global director of news.
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Lucas Energy is an independent oil and gas company based in Houston, Texas. The company acquires underdeveloped oil and gas properties, restores production to the properties, and looks for underlying value. The company recently entered into a joint venture agreement with Dolphin Oil Partnership, LP for the development of Austin Chalk properties located in Texas.
Samson Oil & Gas Limited is an Australian based oil & gas company holding extensive development and exploration acreage in the USA. Samson's business strategy is to create value by exploiting its Niobrara and Bakken acreage position.
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