We want to give you a few Energy Penny Stocks to watch when oil is on the rise. Energy Penny Stocks usually give better returns for day traders. The following stocks trend oil very well. You might put these on your watch list and consider a position when oil is going higher. Swing Traders could even take a position when oil is on a fresh breakout on the day chart.
Lucas Energy, Inc. (Lucas) is a oil and gas company. The Company had approximately 15,000 gross acres of oil and gas leases in South Texas primarily in the Gonzales County, Texas area. The Company is focused on building, revitalizing and developing a portfolio of oil and gas properties. As of March 31, 2009, the Company operated 26 producing wells that produce approximately 125–135 barrels of oil per day (BOPD), gross. It also controls another 16 shut-in or plugged wellbores. During the fiscal year ended March 31, 2009 (fiscal 2009), the Company’s oil production was 52,585 gross barrels of oil produced, and 41,209 net barrels of oil to its fractional royalty interest in the production. The Company owns 100% working interests in all but one of its operated wells. It also holds non operating interests in three wells in Gonzales, Texas.
Kodiak Oil & Gas Corp. (Kodiak) is an independent energy company focused on the exploration, exploitation, acquisition and production of natural gas and crude oil in the United States. The Company’s oil and natural gas reserves and operations are concentrated in two Rocky Mountain Basins, the Williston Basin of North Dakota and Montana, and the Green River Basin of Wyoming and Colorado. As of December 31, 2009, the Company’s portfolio included Eastern Bakken oil play in Mountrail and Dunn Counties, North Dakota, and Vermillion Basin of southwest Wyoming. As of December 31, 2009, the Company had acquired an interest in approximately 52,000 gross (37,000 net) acres in the Eastern Bakken oil play. It has drilled its first two wells on the prospect acreage. As of December 31, 2009, the Company controlled approximately 43,000 gross acres and 16,000 net acres in the Vermillion Basin.
Miller Energy Resources is a high-growth oil and natural gas exploration, production and drilling company operating multiple projects in North America. Miller’s focus is in the Cook Inlet area of Alaska and in the heart of Tennessee’s Appalachian Basin.
Miller is one of the United States premier energy companies and is using its strategy of opportunistic growth combined with prudent development and management of existing assets to maximize value for its shareholders.
Delta Petroleum Corporation (Delta) is an independent oil and gas company engaged primarily in the exploration for, and the acquisition, development, production, and sale of, natural gas and crude oil. Delta operated in two business segments: acquisition, exploration, development, and production of oil and natural gas properties and related business activities, and contract oil and natural gas drilling operations. The primary areas of activity are in the Rocky Mountain and Gulf Coast Regions with additional unproved exploratory leaseholds in the Columbia River Basin in southeastern Washington, the Hingeline area of Central Utah, and the Haynesville Shale area of Texas, among others. Total oil and gas leasehold is approximately 813,000 acres.
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