NEW YORK, NY--(Marketwire - Sep 18, 2012) - Oil and Gas exploration stocks have been on an impressive run as crude prices have rallied sharply on the increased likelihood of stimulus from central banks around the globe. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has surged more than 22 percent in the last three months, handily outperforming the Dow Jones Industrial Average over the same period. Five Star Equities examines the outlook for companies in the Oil & Gas Industry and provides equity research on GMX Resources Inc. (
The Organization of the Petroleum Exporting Countries (OPEC) in their monthly report forecasted oil demand to rise in 2012 and the next. In their monthly report OPEC forecasted global oil demand to increase by 900,000 barrels a day in 2012 and another 800,000 in 2013. During August OPEC produced an average of 254,000 barrels more a day than in July for a total of 31.41 million barrels.
"It's been an impressive performance. And when you put this month's number up against OPEC's own prediction that it is going to need to produce about 30.5 million b/d in the fourth quarter, which is always the heaviest demand period of the year, it should ease fears of tight crude supplies," said John Kingston, Platts global director of news.
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GMX Resources is an E&P company with development acreage in two oil resource Plays -the Williston Basin (North Dakota / Montana) and the DJ Basin (Wyoming), targeting the Bakken/Sanish-Three Forks and Niobrara Formations, respectively. In the second quarter of 2012, the company achieved an average oil production of 705 barrels/day.
Hyperdynamics is an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa. The company holds one of the largest offshore exploration acreage positions (originally 31,000 square miles) in West Africa. The Company began its exploration by studying the historical seismic covering its contract area offshore the Republic of Guinea in 2002.
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