Toronto, Ontario--(Newsfile Corp. - February 12, 2014) - According to EIA's Short Term Energy Outlook released Feb 11, 2014 (Tuesday), total U.S. crude oil production is estimated to increase 13% in 2014 to 8.4 million barrels per day (bbl/d) and by 9.5% in 2015 to 9.2 million bbl/d. The U.S. produced an estimated 7.44 million bbl/d of crude oil during 2013. EIA expects that drilling in the onshore Bakken, Eagle Ford and Permian Basins will account for the bulk of forecast production growth over the next two years. The highest historical annual average U.S. production level was 9.6 million bbl/d during 1970. Meanwhile, oil imports declined significantly during 2013 on strong domestic production. The share of total net imports of liquid fuels peaked at over 60% during 2005 and fell to an average 33% during 2013. EIA expects the net import share to decline further to 25% by 2015.
Ubika Research has shortlisted the following U.S. oil & gas stocks, which have registered significant growth in oil production during the trailing 12 months. The shortlisted stocks have recorded strong earnings growth during the trailing 12 months and are estimated to record strong earnings growth during 2014. These stocks are currently trading at relatively low 1-Yr forward price to cash flow and EV to EBITDA multiples. We note that some of these stocks have recorded gains during the past one month with average traded volume in excess of 100,000.
For investors looking to see our analyst's shortlisted U.S. oil producers with strong production growth please visit the Smallcappower.com Daily Investment Idea: http://www.smallcappower.com/posts/article-investment-idea-of-the-day-12-2-2014.
Included in the list of 10 smallcap stocks are: Warren Resources Inc. (NASDAQ: WRES), Rex Energy Corp. (NASDAQ: REXX), and Kodiak Oil & Gas Corp. (NYSE MKT: KOG).
You can access the entire archive of Investment Idea's here: http://www.smallcappower.com/daily-investment-idea.
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