NEW YORK, NY--(Marketwire -02/28/12)- American Liberty Petroleum, Corp. (OTC.BB: OREO.OB - News) announced yesterday that they are exploring the potential of the western part of the US in search of petroleum reserves. Companies like Anadarko (NYSE: APC - News), Gasco (AMEX: GSX - News) and Occidental Petroleum (NYSE: OXY - News) have all made claims in California and Nevada.
Yesterday, Pacific Investment Management Co.'s Mark Kiesel stated that technological improvements have helped drillers boost production. Onshore natural gas shale and oil shale developments are creating opportunities to invest in energy companies that may grow significantly faster than the overall US economy. (http://media.pimco.com/Documents/PER033-022312%20US_Game%20Changer%20GBL.pdf)
The report further states, "While natural gas remains a key driver of new job creation and capital spending across the country, high crude oil prices, an abundant supply of onshore oil reserves and new drilling technologies are also helping to stimulate growth and investment in domestic oil."
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- Occidental Petroleum