The new drilling technologies and an large quantity of shale gas has led US “proven” natural gas reserves to exceed 300tn cubic feet in 2010, and technically recoverable natural gas is projected to surpass 2,200 tcf, according to the Energy Information Administration.
This indicates a growth of 61 per cent from the agency’s forecast four years before. Given US natural gas use of about 24 tcf, the country has enough resources available to satisfy domestic needs for as low as 90 years. America could now turn into a net exporter of liquefied natural gas by 2016.[article_detail_ad_1]
In the energy sector, Exxon Mobil Corporation (NYSE:XOM) was down after a report revealed that Vice President, Treasurer, Robert N. Schleckser, sold 8,000 shares on December 13, for a worth of US$712,000. and a Market Sale was made by Vice President Alan J. Kelly on December 18, at stock price US$89.15 each for about US$1.16 million.
Its price decreased in the last trading session with a previous 52-week high of $93.67. The stock was trading on above-average volume. The stock traded at a volume of 33.06 million shares at a price fall of -1.87%. The share price is now down -4.09% for the past three months. Latest closing price was -2.03% below its 50-day moving average and 1.66% above its 200-day moving average.
While trading at volume higher than average, Chevron Corporation (NYSE:CVX) dropped -0.61% Friday after a plan to move almost 800 of its California employees to Houston to strengthen its upstream business. Its previous 52-week high was $118.53 and moved up 9.39% over the same period, trading at a volume of 15.62 million. Shares have risen 11.52% over the trailing 6 months. The stock is currently trading 1.76% above its SMA 50 and 3.38% above its SMA 200.
Over the last 12 months for Schlum berger Limited. (NYSE:SLB), a return on equity of 16.71 percent was realized due to the financial situation and earnings per share reached a value of $4.09.
Last fiscal year, $1.10 has been paid in form of dividends to investors. Earnings are projected to move up 16.18 percent for the coming five years. The stock closed at $69.69, down -1.41 points or -1.98% from previous close and at a distance of -1.97% from 20-day simple moving average.
More in corporate news was that Conoco Phillips (NYSE:COP) has sold its Nigerian unit to Oando for $1.79bn. The stock moved up 10.36% in this year and its price history showed most recently beta was at 1.15. Overall the last 12 months, the percentage change in the price was -19.65%, hitting the highest of $78.29 on Mar 19, 2012 while lowest level in that period was $50.62 on Jun 04, 2012.