Margin Between U.S. and Europe Oil Benchmarks Narrowest in Over Three-Months
The Paragon Report Provides Stock Research on Swift Energy and ZaZa Energy
NEW YORK, NY -- (Marketwire) -- 01/14/13 -- U.S. oil stocks will look to benefit from plans to re-open the Seaway Pipeline. Last week, Operators Enterprise Products Partners LP and Enbridge Inc. have announced 400,000 barrels of oil will flow through their pipeline. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on Swift Energy Company (NYSE: SFY) and ZaZa Energy Corp (NASDAQ: ZAZA).
The gap between West Texas Intermediate crude oil and Europe's Brent crude since the start of the year has shrunk 6.4 percent to its narrowest margin since September. The U.S. benchmark has fallen in value as increased domestic production and lack of access to pipelines to transport crude to refineries have created a supply glut. The Department of Energy recently reported that oil inventories at the Cushing oil-transport hub was at an all-time high of 49.8 million-barrels. The Seaway Pipeline transports oil from the Cushing hub to refineries along the Gulf Coast.
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Swift Energy engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana. The company has grown their annual production from 9.4 MMBoe to 10.5 MMBoe over the five-year period ended December 31, 2011.
ZaZa Energy is a decidedly unconventional exploration and production company with a world-class portfolio consisting of resource assets in Texas, U.S.A. The company owns and operates approximately 88,000 net acres in the Eaglebine, one of the fastest growing and most prolific oil and gas plays in the U.S. The company has recently completed the sale of its French assets to Vermilion Energy for $85.8 million.
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