Trade ideas, analysis and low risk set ups for commodities, Bitcoin, gold, silver, coffee, the indexes, options and your retirement. We'll help you keep your emotions out of your trading.
Friday, July 24, 2009
Occidental Moves Fast, Keeps Mum on Oil Discovery
As new details emerged Thursday about Occidental Petroleum Corp.'s discovery of a large new oil field in Kern, local oilmen voiced optimism that the find could stimulate local drilling work -- including among independents hoping to strike it rich.
Oil producers anxious to learn the field's location still had little to go on, though a spokesman for Chevron, indicated late Thursday that it's in western Kern County. Chevron owns a 20 percent stake in the find. Earlier in the day, Los Angeles-based Oxy suggested that it plans to move quickly to tap the field, drilling an additional 17 wells (costing roughly $4 million apiece) this year.....Complete Story
Can you learn to trade crude oil in 90 seconds?
Labels:
Chevron,
Drilling,
Kern County,
Occidental,
Stochastics
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment