This is about the time that everyone starts thinking of their new year’s resolutions. They’re everywhere because every one of us has hope for a brighter, more prosperous year ahead.
Some are in better positions to do this than most, and in the case of the oil and gas industry, that’s certainly true as well. Some companies are poised to have a much better year than others, and we’re here to bring you a few of those names–rapid fire style.
In late October of 2016, Caelus Energy announced they found a “world-class” oil discovery in Alaska. Located 50 miles southeast of Barrow, an oil reservoir was discovered that should yield 200,000 barrels per day of light, mobile oil. Caelus seems to think they can extract anywhere from 1.8 billion barrels to 4 billion barrels by the time they’re done.
Apache found a massive shale oil play in West Texas during September of 2016. They estimate it to be worth $8 billion, with over three billion barrels of oil tucked inside. Apache’s stock price surged 10% in the two days following the news, and should give them a bright 2017 to look forward to.
GE just came off the Baker Hughes deal that became official in late-2016. They should see a promising 2017 as details become finalized and the assets of Baker Hughes become absorbed by the company.
Saudi Aramco has made it clear that they’re going to keep pumping oil despite global supply or what anybody else in the world is doing. I expect their business to continue chugging along nicely in 2017.