Tuesday, June 11, 2013

For Investors Only -- More Rigs Moving To China

Last week it was reported that HP tripled its dividend and was trading at new 52-week highs.

A lot of folks are wondering if North American rigs might be the driving force? I don't know. But this might provide a clue:

Oil & Gas Journal is reporting that:
Far East Energy Corp., Houston, is operating 18 rigs with 4 more enroute to its 418,500-acre Shouyang coalbed methane field on the Shouyang PSC in Shanxi Province southwest of Beijing, China.
The company spudded 7 new wells in the past 12 days, bringing to 23 the number of wells spudded in 2013. Five other wells reached total depth in the past 12 days, including 1 well that was drilled to TD in 12 days.
There are so many stories out there, so many opportunities.....

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or what you think you might have read here. 

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