Not all the shale plays are created equal, and one in particular is bucking the trend with robust economics and company share prices that show it. But is it too late to buy in? Fund Manager Josh Young doesn't think so, and he sat down with The Energy Report to discuss the hottest (and coldest) North American shale plays. Read on to find out where he's finding bargains that could pay off handsomely.
Let's make one thing clear: There is no magic formula to determine which company will be the next big buyout story.
The global oil landscape is rapidly changing, with "shockwaves" from supply growth in the US due to shale gas, light tight oil as well as the Canadian oil sands extending to "virtually all recess of the global market," according to the International Energy Agency.
Shale oil has been North America's great experiment, says Oil & Gas Investments Bulletin Editor Keith Schaefer.
Commercial Solutions Inc. (TSX:CSA) announced its second quarter financial results for the three-month and six-month periods ended March 31, 2013, and reported revenues of $27.8 million.
CBM Asia Development Corp. (TSXV:TCF,US:CBMD,FWB:IY2) reported that the non-brokered private placement announced on March 6, 2013 and April 1, 2013 is moving forward.
Victory Energy Corp (OTCQB:VYEY) provided an update on drilling operations for key properties for Auraora Energy Partners, of which Victory owns a 50 percent interest.
Big Sky Petroleum Corporation (TSXV:BSP) reported a successful Q1 of 2013 following the acquisition of two lease blocks and test results from drilling at Wolfberry. Big Sky also provided investors with an update on its plans moving forward in 2013, with plans for expanding its projects in 2013 and conducting a leasing program with the Schleicher Prospect are that will target the highly selective areas for future development.
Bloomberg reported that the Brent crude prices have slipped for the third day this week, touching its lowest price in three weeks. WTI for July delivery was down $1.61 to $92.67 a barrel.
The Washington Post reported that oil prices fell below $93 on the back of disappointing economic reports from Europe and the U.S.
Bloomberg reported that West Texas Intermediate crude has reached its highest level in over 2 weeks as SPX approached a record on optimism that the economic stimulus will remain in order to bolster growth.
Bloomberg reported that according to Oil Movements, the Organization of Petroleum Exporting Countries (OPEC) will increase shipments by 60,000 bpd until mid-May due to a rising demand in Asia.