Dejour Energy and Triangle Petroleum Benefit From Improving Drilling Techniques
February 13 2012 - 7:20AM
Marketwired
North American Oil and Gas explorers have performed well in the
early stages of 2012 as several companies intend to boost
production this year. The iShares Dow Jones U.S. Oil & Gas
Exploration & Production Index Fund -- which seeks investment
results corresponding to the performance of the oil exploration and
production sub-sector of the United States equity market -- is up
more than 10 percent year to date. Five Star Equities examines
investing opportunities in the Oil & Gas Sector and provides
equity research on Dejour Energy Inc. Ltd. (NYSE Amex: DEJ) (TSX:
DEJ) and Triangle Petroleum Corporation (NYSE Amex: TPLM). Access
to the full company reports can be found at:
www.fivestarequities.com/DEJ
www.fivestarequities.com/TPLM
While North American oil and gas production is expected to
skyrocket in the coming years, the Organization of the Petroleum
Exporting Countries (OPEC) cut its world oil demand growth forecast
last week due to economic weakness in Europe and the United States
-- taking the opposite view to the U.S. government's energy
forecaster and reflecting growing uncertainty over the outlook,
Reuters reports.
OPEC, the source of more than a third of the world's oil, said
global demand would rise in 2012 by 940,000 bpd, which is 120,000
bpd less than expected last month.
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Improvements in drilling techniques have transformed the U.S.
energy landscape in recent years by unlocking the country's immense
shale oil and gas reserves, Reuters reports. Last month the U.S.
Energy Information Administration (EIA) said that the nation's boom
in shale oil production will raise U.S. domestic crude output by a
fifth over the next decade, helping to slash the country's
dependence on foreign oil imports.
In his State of the Union speech last month, President Obama
echoed these views, and assured the American people that he was in
support of domestic energy production.
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