Uncertainty in Libya Keeps Pressure on Oil Prices – Industry Report Featuring Chesapeake Energy and Petrohawk Energy
HONG KONG, March 4 /PRNewswire/ – Today, www.WorldStreetFundamentals.com released its industry report highlighting Chesapeake Energy Corporation
(NYSE:CHK) and Petrohawk Energy Corporation (NYSE:HK). As the Middle
Eastern situation continues to press concerns, it brings the potential
for destabilizing a geo-strategically important region. Investors from
around the world are invited to view fundamental and technical analysis
Libya is a key OPEC member and accounts for about 2% of global oil
supplies. Oil production from Egypt remains a smaller contributor,
producing a little bit less than 1% of the world’s total supply.
Together, the Suez-Mediterranean pipeline and the canal itself account
for three million barrels a day out of a total of about 88 million
barrels worldwide, representing 3.5% of world production.
Fundamentals of the U.S. economy are expected over the long-term to
continue recovery. Many investors are using weakness resulting from the
Libya unrest as an opportunity to own quality names that enjoy strong
earnings momentum and economic leverage.
World Street Fundamentals has highlighted Chesapeake Energy for its 98%
drilling success rate and status as the industry’s most active drilling
program, drilling 1,445 gross operated wells (938 net wells with an
average working interest of 65%) and participating in another 1,586
gross wells operated by other companies (211 net wells with an average
working interest of 13%). To read the report on Chesapeake Energy
Corporation (NYSE:CHK), click here: www.WorldStreetFundamentals.com/ViewFullReport.CHK.php.
World Street recognized Petrohawk Energy due to its strong guidance for
2011, excellent track-record in hedging revenues streams, and recent
breakthroughs with its HiWAY fracturing technique. The new technique
combines fit-for-purpose fracture modeling, fracturing fluids and
high-frequency proppant pulsations resulting in 32-37% Expected
Ultimate Recovery (EUR) increases to well production. To read the
report on Petrohawk Energy Corporation (NYSE:HK), click here: www.WorldStreetFundamentals.com/ViewFullReport. HK.php.
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SOURCE World Street Fundamentals