home Exploration Recent Oil Discoveries and the Companies Behind them

Recent Oil Discoveries and the Companies Behind them

Two oil companies announce discoveries and one seeking a discovery in Oklahoma. Falling oil prices, excessive spending on shale technologies and massive layoffs have been the industry’s headlines since 2014.  But lately news is trending towards new discoveries and optimistic forecasting of an industry struggling to maintain viability in the eyes of their shareholders.

A massive oil discovery announcement in Alaska by Spanish oil company Repsol SA (OTC: REPYY:US) and Hurricane Energy’s (OTC:HRCXF) claim of “largest undeveloped (oil) discovery on the U.K. continental shelf,” are altering sentiments of an industry negatively plagued by complex world events for this volatile commodity. Each of these discoveries will not impact the actual supply chain until 2021 for Alaska production and 2019 for the UK discovery.  Meanwhile a smaller company Petro River Oil (OTC:PTRC) is positioning itself for its own significant discovery in Osage County, OK where a newly drilled well is only weeks away.  Interesting to follow these companies in 2017.

Disclosure: OG Market Report has been compensated in the past, and expects to be compensated in the future, by Petro River Oil Corp. for investor relations services. OG Market Report reserves the right to be compensated for investor relations services by companies mentioned in this article. OG Market Report is not liable for any investment decisions by its readers or subscribers. OG Market Report is  NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. 
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