U.S. Oil Companies Look to Benefit as West Texas Intermediate Crude Oil Prices Continues to Rise

NEW YORK, NY -- (Marketwire) -- 01/14/13 -- 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 Cabot Oil & Gas Corporation (NYSE: COG) and Whiting Petroleum Corp. (NYSE: WLL).

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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 transports oil from the Cushing hub to refineries along the Gulf Coast.

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Cabot Oil & Gas is a leading independent natural gas producer with its entire resource base located in the continental United States. As of December 31, 2011 the company had approximately 3,033 Bcfe of total proved reserves. Cabot recently reported that their Marcellus operations surpassed one Bcf of gross production per day, the first time in company history.

Whiting Petroleum is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in the Rocky Mountain, Permian Basin, Mid-Continent, Michigan and Gulf Coast regions of the United States. The company's largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery fields in Oklahoma and Texas.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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