Drilling activity is one the rise in the area according to a recent article by PennEnergy.com – "Outpacing Louisiana for the number two spot, Oklahoma has the second-largest number of drilling rigs in the state with 173 active rigs. Most rigs are drilling in the Anadarko Basin, but some are active in the Arkoma Basin as well. Oklahoma has historically been a leader in natural gas production, but more rigs are drilling for oil in its liquids-rich Woodford Shale.”
Trading Snapshot (as of close May 31)
- American Petro-Hunter, Inc. (OTC.BB: AAPH) had a daily trading range of $0.47 - 0.55, closing at $0.50
- Chesapeake Energy Corporation (NYSE: CHK) closed at $31.34, up $ 0.23 (0.74%)
- Devon Energy Corporation (NYSE: DVN) closed at $84.07, up 0.73 (0.88%)
- Newfield Exploration Company (NYSE: NFX) closed at $74.59, up 0.44 (0.59%)
- Panhandle Oil and Gas Inc (NYSE: PHX) closed at $ 30.60, up $ 0.97 (3.27%)
Devon Energy Earns $416 Million in First-Quarter 2011; North American Onshore Production Increases 7 Percent
OKLAHOMA CITY, May 04, 2011
Cana-Woodford Shale Production Growth Leads Operating Highlights
•Production from the company's Cana-Woodford Shale play averaged a record 162 million cubic feet of natural gas equivalent per day in the first quarter of 2011. This represents a 120 percent increase compared to the first-quarter of 2010.
Full news: http://www.devonenergy.com/Newsroom/Pages/NewsRelease.aspx?id=1559196#terms?disclaimer=yes
Panhandle Oil and Gas Inc. Reports Second Quarter and Six Months 2011 Results...
May 6, 2011
"Drilling in the Southeast Oklahoma Woodford Shale is beginning to rebound as operators who purchased positions in the play over the past few years are beginning to accelerate the pace of drilling as reflected by the increasing number of well proposals...”
Full News: http://finance.yahoo.com/news/Panhandle-Oil-and-Gas-Inc-prnews-871690561.html?x=0&.v=1
American Petro-Hunter (OTCBB: AAPH) Updates Horizontal Drilling Progress at North Oklahoma Project
SCOTTSDALE , AZ - May 25, 2011 (Investorideas.com energy newswire) - American Petro-Hunter, Inc. (OTC.BB:AAPH) ("American Petro-Hunter" or the "Company") today wishes to update the drilling progress of the NOM1H Horizontal well at the Company's North Oklahoma Project. Full news:http://www.investorideas.com/CO/AAPH/news/2011/05251.asp
In a previously published Investorideas.com interview, Robert McIntosh, President & C.E.O. of American Petro-Hunter, Inc. (OTC.BB: AAPH) notes, "Shale plays for oil and gas are the new technology of the industry. Advancements in direction drilling and secondary recovery allow us to drill along these shales-they have oil it’s been found and is more of an engineering issue to extract it, like oil sands. So we will have known predictable oil and not have to "wildcat" hoping to discover oil. The Bakken is 200 feet thick and is worth billions to the companies involved. Our Oklahoma shale is new and we are on the cutting edge of drilling leasing and production. And the majors are there-Devon (NYSE: DVN ), Chesapeake, (NYSE: CHK ), Newfield (NYSE: NFX ) and others now producing gas from the Woodford shale in the south of the State.”
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About American Petro-Hunter, Inc. (OTCBB: AAPH)
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets. Visit us at: www.americanpetrohunter.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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