It’s been a volatile year thus far for the oil sector, which was up almost 45% this year, and investing in any oil and gas stock has been extremely profitable this year.
The oil sector blew expectations out of the water in 2021 through a year riddled with economic challenges and uncertainties posed by the pandemic. Analysts are increasingly optimistic that prices will stay strong through the summer.
- Bank of America analyst Francisco Blanch believes oil prices could spike above $100 a barrel next year if demand trends keep improving.
- Morgan Stanley oil strategist Martijn Rats recently increased his long-term forecast to $60/bbl Brent and sees the potential for spikes to $80/bbl in the near term.”
- Goldman Sachs likewise expects strong oil prices to last.
- Citi thinks oil prices could rise above $80 this summer.
As the black gold recovered along with the economy, consider adding these four oil stocks to your portfolio this summer.
Camber Energy (NYSE: CEI), the growth-oriented energy company based in Houston (TX) owns approximately 62% of the issued and outstanding common shares of Viking. Such interest was acquired in connection with the transactions described in Camber’s Current Reports on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on December 24, 2020, and January 13, 2021, and which are available under “investors” – “SEC filings” at www.camber.energy.
Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions.
Viking Energy Group Inc (OTC US: VKIN) may not be a penny stock that you’ve heard of, but the company has made a big move earlier this year. Similar to Camber Energy (NYSE: CEI), Viking Energy works in the oil sector.
With assets in Texas, Louisiana, Mississippi, and Kansas, Viking Energy Group Inc (OTC US: VKIN) expects future capital plans to include enhancing existing wells, drilling new wells across our asset base, and acquiring producing assets.
Through its wholly-owned subsidiaries, Viking owns a working interest in multiple oil and gas fields across a few states.
First and foremost, Viking Energy Group Inc is the right oil company positioned at the right time. The demand for oil is still higher than the supply. Therefore, smaller and mid-sized oil companies like Viking Energy, who are physically on the ground looking for oil, are perfectly positioned to boom.
Xfuels Inc. (OTC US: XFLS), a fully integrated energy company, owns 40% of Cycle Oil & Gas through its ownership in Cycle Energy Industries Inc. Cycle Oil & Gas focuses on acquiring & optimizing underdeveloped oil & gas assets and employs in-house developed & licensed technologies to increase production, optimize performance & reduce costs. The company currently produces approximately 80 barrels/day of oil as well as several non-operational properties and GORRS (Gross Overriding Royalties).
Founded in 1985, VAALCO Energy, Inc. (NYSE: EGY), an independent energy company with production, development, and exploration assets in the West African region hold a 58.8% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.
VAALCO announced last week that, in conjunction with its 2021/2022 drilling program planned to begin later this year, it has executed a contract with Borr Jack-Up XIV Inc., an affiliate of Borr Drilling Limited, to drill two development wells and two appraisal wellbores with options to drill additional wells. The contract provides, among other things, that the drilling rig can be on location as early as December of this year, with the exact timing dependent on other commitments related to the rig.
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