NEW YORK, NY--(Marketwire - Jan 9, 2013) - U.S. oil stocks will look to benefit from plans to re-open the Seaway Pipeline. By the end of this week, Operators Enterprise Products Partners LP and Enbridge Inc. have announced 400,000 barrels of oil will flow through their pipeline. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on Abraxas Petroleum Corp. (
The gap between West Texas Intermediate crude oil and Europe's Brent crude since the start of the year has shrunk 6.4 percent to its narrowest margin since September. The U.S. benchmark has fallen in value as increased domestic production and lack of access to pipelines to transport crude to refineries have created a supply glut. The Department of Energy recently reported that oil inventories at the Cushing oil-transport hub was at an all-time high of 49.8 million-barrels. The Seaway Pipeline transport oil from the Cushing hub to refineries along the Gulf Coast.
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Abraxas Petroleum is a crude oil and natural gas exploration and production company with operations across the Rocky Mountain, Mid-Continent, Permian Basin and onshore Gulf Coast regions of the United States and in the province of Alberta, Canada. The company recently reported that their Cobra B 1H, on a restricted choke, averaged 592 boepd (95% oil) during the first 30 days of production.
Magnum Hunter Resources is presently active in five of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, Eagle Ford Shale, Pearsall Shale and Williston Basin/Bakken Shale. The company has recently expanded their leasehold position in the Marcellus Shale and Utica Shale Formations with a new Joint Operating Agreement with Eclipse Resources.
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