Texas Shale Boom = Booming Oil Stocks
The shale boom is happening all across the United State. However, as you probably could have guessed, Texas has become the hub for shale exploration and production. With both the Eagle Ford Shale and the Barnett Shale becoming hot commodities, Texas oil is back on the map in a big way.Investment Underground picked 5 oil stocks that are ready to soar on these Texas oil plays.
"EOG Resources (EOG): First on the list is EOG Resources. The Houston-based oil company currently has rights to the greatest amount of land in Eagle Ford, totaling 520,000 net acres. EOG focuses on exploration and production of oil and natural gas, primarily in North America. Shares depreciated 2.43% to $104.25 at the time of writing, with a 52-week range from $85.42 to $121.44. With a market cap of $28 billion, EOG is no small company, and buyers face a high barrier to entry. However, for the 12th straight year, EOG approved an increase in its common stock dividend for 2011, which will grow 3% to $0.64 per share (or 0.60%). The company reported a net income of $160.7 million for FY 2010, down considerably from last year’s $546.6 million total, although revenue generated from liquids surpassed those from natural gas for the first time in the company’s history…."
Find more energy stock picks here: http://seekingalpha.com/article/272164-5-energy-companies-set-to-soar-from-the-texas-shale-boom