This oil / gas company just popped up on my scan.
Weekly and Monthly Charts look great!
Earnings today blew past street estimates.
POSITION: 7500 SHARES
PRICE: $13.67
DISCLAIMER FOR ALL MY PAST AND CURRENT TRADES
If you follow me, follow me very closely because I might buy for a fast profit or I might hold but, if I hold, I could close my position at any given time.
PLEASE DO YOUR OWN RESEARCH BEFORE INVESTING
Weekly and Monthly Charts look great!
Earnings today blew past street estimates.
POSITION: 7500 SHARES
PRICE: $13.67
DISCLAIMER FOR ALL MY PAST AND CURRENT TRADES
If you follow me, follow me very closely because I might buy for a fast profit or I might hold but, if I hold, I could close my position at any given time.
PLEASE DO YOUR OWN RESEARCH BEFORE INVESTING
Trade active:
Watch Venezuelan Oil Production - It could boost Oil/Gas Prices real fast!
Venezuelan Oil Production figures could be fraudulent...
In July, Venezuela’s oil production came in lower than PDVSA had targeted, according to Argus Media. While PDVSA had hoped that it, along with its joint venture partners, would produce as much as 1.65 million barrels per day (mb/d) in July, actual production came in at about 1.526 mb/d.
Against that backdrop, the 1.526 mb/d figure doesn’t seem credible. Indeed, sources from within PDVSA told Argus that officials from the company’s eastern and western divisions “systematically inflated” the data. “They play with the storage tanks and what they report is not reality,” a senior executive told Argus. In reality, production could have been as low as 1.25 mb/d.
The report is not entirely useless, however, as it does offer some clues into the company’s demise. Argus says that “scant maintenance, reservoir management, skilled labor flight and a lack of critical naptha and light crude for transport and blending” are all contributing to the steep decline in production. An estimated 1,191 wells stopped producing in July.
Source: Cunningham
Venezuelan Oil Production figures could be fraudulent...
In July, Venezuela’s oil production came in lower than PDVSA had targeted, according to Argus Media. While PDVSA had hoped that it, along with its joint venture partners, would produce as much as 1.65 million barrels per day (mb/d) in July, actual production came in at about 1.526 mb/d.
Against that backdrop, the 1.526 mb/d figure doesn’t seem credible. Indeed, sources from within PDVSA told Argus that officials from the company’s eastern and western divisions “systematically inflated” the data. “They play with the storage tanks and what they report is not reality,” a senior executive told Argus. In reality, production could have been as low as 1.25 mb/d.
The report is not entirely useless, however, as it does offer some clues into the company’s demise. Argus says that “scant maintenance, reservoir management, skilled labor flight and a lack of critical naptha and light crude for transport and blending” are all contributing to the steep decline in production. An estimated 1,191 wells stopped producing in July.
Source: Cunningham
Trade active:
Watch this play out!
As I have been saying, World Consumption of Oil / Gas is out-pacing supply.
NEWS
U.S. Drillers Add Double Digit Oil, Gas Rigs
Baker Hughes reported an increase to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs increased by 13 rigs, according to the report, with the number of active oil rigs increasing by 10 to 869 this week, while the number of gas rigs increased by 3, hitting 186.
The oil and gas rig count now stands at 1,057—up 108 from this time last year.
As I have been saying, World Consumption of Oil / Gas is out-pacing supply.
NEWS
U.S. Drillers Add Double Digit Oil, Gas Rigs
Baker Hughes reported an increase to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs increased by 13 rigs, according to the report, with the number of active oil rigs increasing by 10 to 869 this week, while the number of gas rigs increased by 3, hitting 186.
The oil and gas rig count now stands at 1,057—up 108 from this time last year.