Oil and Gas Industry Poised to Benefit From Imposed Sanctions on Iran Petroleum Exports The Paragon Report Provides Stock Research on Sandridge Energy Inc. and Northern Oil & Gas, Inc.
The Paragon Report Provides Stock Research on SandRidge Energy Inc. and Northern Oil & Gas, Inc.
NEW YORK, NY -- (Marketwire) -- 03/26/12 -- Reuters reported Iranian oil exports will drop by 300,000 barrels a day this month because of tighter sanctions. As a result Oil prices rallied across the board Friday. Oil futures hit recent highs of $108 a barrel on the New York Mercantile Exchange. The Paragon Report examines the outlook for companies in the oil and gas industry and provides equity research on SandRidge Energy Inc. (NYSE: SD) and Northern Oil & Gas, Inc. (NYSE: NOG)
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"The Reuters item came out at the same time we spiked," said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. "It doesn't look like much but it's a reminder that the tensions will only probably only increase. If there is a cutoff of Iranian oil, the Saudis will have a hard time making up for the lost supply."
In response of the imposed sanctions Iran has threatened to shut the Strait of Hormuz, a transportation route for a fifth of the world's oil.
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SandRidge Energy Inc. announced earlier this month that its Board of Directors has declared a $3.50 per share semi-annual dividend on its shares of 7.0% Convertible Perpetual Preferred Stock that will be paid in cash on May 15, 2012 to holders of record on May 1, 2012. The Company has 3,000,000 shares of 7.0% Convertible Perpetual Preferred Stock outstanding.
Northern Oil & Gas, Inc. recently reported that their Chief Executive Officer, Michael Reger, is scheduled to present at the Howard Weil Energy Conference on Tuesday, March 27, 2012 at 11:35 AM (CT) and at the Independent Petroleum Association of America Oil and Gas Investment Symposium on Wednesday, April 18, 2012 at 2:00 PM (ET).
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer
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