In an era of shale, Petro River Oil (PTRC) is going old-school. The shale revolution has been the driving force behind America’s resurgence as a leading oil producer. However, given the costly nature of shale projects, Petro River has shunned them. Instead, the New York-based company targets conventional oil that can turn a profit no …
By Mitchell Posner It was less than three years ago when the IEA predicted that by 2020, the US would pump past Saudi Arabia to become the world’s largest oil producer, and a net exporter by 2030. Today, it seems farfetched. Let’s consider what happened and what it says about the future. The IEA isn’t …
PETRO RIVER OIL CORP 3PTRC Description This is a small, illiquid international exploration upstream E&P company. It is also a deep value investment with asymmetric upside potential and a company with proportionately lots of cash to deploy into a depressed market in a counter cyclical strategy. Its worth touching on some of my past failed …
New York, New York – May 4, 2016. Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) is pleased to announce that it has completed its acquisition of Horizon I Investments, LLC (“Horizon Investments”) in an all-stock transaction. As previously disclosed, as a result of the closing, Petro River acquired $5.0 million in cash …
Oil futures ended sharply lower Tuesday as renewed fears of a global glut hit investor confidence ahead of weekly inventory data that are expected to show an increase in crude supplies. West Texas Intermediate crude oil CLM6, +0.23% lost $1.13, or 2.5%, to end at $43.65 a barrel on the New York Mercantile Exchange, while …
API crude oil stocks The API (American Petroleum Institute) is scheduled to release its weekly crude oil inventory report on Tuesday, May 3, 2016. The API reported that US crude oil inventory fell by 1.1 MMbbls (million barrels) between April 15, 2016, and April 22, 2016. The API added that Cushing crude oil inventories rose …
Summary Petro River Oil Corp. is focused on lower-risk conventional drilling in Osage County, Oklahoma, that does not require costly horizontal drilling or hydraulic fracturing techniques. The company is building a portfolio of assets that can withstand swings in commodity prices and generate returns regardless of the current macro environment. Its 20% ownership in Horizon …
Oil prices rose as much as 5 percent on Friday, lifted by fresh hopes over a proposed freeze in oil production and firm economic indicators from the United States and Germany that cast a positive light on growth in fuel demand. Russia’s oil production could fall in April, sources said, while the country’s energy minister …
A young, opportunistic E&P is now on the radar of industry experts. Today, Seeking Alpha published a post by prestigious energy watchers Oil & Gas 360. The topic? Petro River (OTCPK: PTRC). Unlike legacy companies held back by debt, lower oil prices and unconventional drilling, Petro River carries no such baggage. What it does have …
Crude oil prices have been on a roller coaster ride in 2016 Crude oil prices have rallied almost 45% in the past two months. However, they are down by 13% since March 22 highs. They have also lost 65% since June 2014 due to long-term oversupply. The roller coaster ride in crude oil prices is …