Headlining news from Oil & Gas Market Report
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 …
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 …
Europe’s Carboniferous basins have long been prolific sources of hydrocarbons and characterize many of the fields in and around the North Sea. But one of these basins is virtually overlooked. The Larne Basin in Northern Ireland is a classic Carboniferous basin that has remained unexplored for a couple of reasons. Firstly, historical “troubles” in Northern Ireland deterred the oil companies who were …
When other major players in the oil-and-gas industry zigged, Scot Cohen zagged. Unconventional drilling, such as fracking across shale plays, has become the popular route for most energy explorers in recent years. Cohen, however, did the opposite: the New York-based investor has put his money into straight conventional drilling using 3D-seismic geology. The decision was …
It is Pharrell’s 43rd birthday, and the crude complex appears happy to edge lower once again as production freeze hopes wane. Here are six things to consider on this fifth day of the fourth month: 1) On the economic data front, we have had PMI services data, hot on the heels of the recent deluge …
Oil prices steadied on Tuesday as shares on Wall Street pared losses and the euro recovered against the dollar after deadly blasts in Brussels prompted an initial flight risk from financial markets. Brent was up 18 cents at $41.72 a barrel by 12:12 p.m. EDT, after hitting a session low of $40.97. U.S. crude CLc1 …
To receive Tyler’s analysis directly via email, please SIGN UP HERE Talking Points: Crude Oil Technical Strategy: Major Resistance Has Arrived, Watching for Reversal The US Dollar Drop Has Confounded Traders & Banks & It Will Determine Oil Into Q2 2016 Sentimental Trading System Warns of Potential Top This week will see how the price …
Petro River Oil is Participating in a Portfolio of Conventional Assets in Oklahoma and California in 2016, with a Northern Ireland Exploration Test on Tap for Q2 When Scot Cohen founded Iroquois Capital Opportunity Fund, the seasoned portfolio manager kept an eye open for contrarian opportunities. These days Cohen is focused on Petro River Oil Corp. (ticker: PTRC; Petro Riveroil.com), …
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 1.3 million barrels last week, maintaining a total U.S. commercial crude inventory of 523.2 million barrels. The commercial crude inventory stands at historically high levels for this time of year, according to the EIA. Tuesday …