Looking For The Best Oil Stocks?
The best oil stocks are being rapidly snatched up now that oil has again risen past one hundred dollars per barrel. With new sources being tapped in the Canadian oil fields, Russia’s eastern provinces, and the Middle East, there is little reason to think that the cost of oil will not increase. While this can be a frustrating turn of events for persons buying gas at the pump, it nevertheless represents a great time for investors to play the market.
KEY AREAS OF EXPLORATION FOR THE BEST OIL STOCKS IN 2012
Eagle Ford Shale, Bakken Shale, and the Permian basin are all brimming with investors and speculation as more and more companies are rushing to be able to extract black gold from untapped wells. The Utica Shale in Ohio looks to be a major vein of new crude, while the Monterey Shale in California looks to be an up-and-comer. Remember that the individual companies with drilling rights represent a great way to turn penny stocks into top dollar profit if they are bought and sold at the right time. These companies all have rights in the Bakken Shale.
THE TOP THREE BEST OIL STOCKS
Whiting Petroleum, trading as WLL, is going to be the sole company tapping the Bakken Shale reserves. For the past year they have had near-exclusive drilling rights to this prize cache and there is no indication that it will stop any time soon. The Bakken Shale might be the largest field in the continental United States (some four billion barrels) and few other American companies are capitalizing on it. At $41.25 a share, it could increase by as much as twenty dollars a share by the end of the year.
Kodiak Oil and Gas looks to be a boom stock. They have a small claim in the Bakken Shale that does not suggest much, but their Tree Forks zone may be the most fertile drilling grounds in the entire Montana and South Dakota region. They are a small company, with stock prices fluctuating between five and seven dollars, meaning they are an excellent long-term option.
Brigham Exploration Co. might be the most profitable of all. They control nearly a quarter of a million acres of land in Montana and have only surveyed a small quantity of that. But they have liked what they have found. Trading at twenty three dollars, they are one of the best oil stocks around because they may double in value by the end of the year.
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