3 Oil Explorers Forecast to Gain 60%
By David White:
Three oil developers that could deliver 60%+ price gains in the next year are ATP Oil & Gas Corp. (ATPG), SandRidge Energy Inc. (SD), and Penn Virginia Corp. (PVA).
ATPG is an international offshore oil and gas development and production company focused in the Gulf of Mexico, the Mediterranean Sea, and the North Sea. As of Dec. 31, 2010, it had estimated net proven reserves of 126.4 million barrels of crude oil equivalent.
SandRidge is an independent oil and natural gas company in the U.S. It has natural gas and oil reserves in the West Texas Overthrus (WTO) and the Permian Basin. It has a drilling segment. It drills oil and natural gas wells for other companies. SD has a Midstream Gas Services segment. Its oil strategy is to drill low risk, shallow wells. SandRidge has more than 900,000 Mississippian acres and 200,000 Central Basin Platform (Permian Basin) acres. TheComplete Story »