Signs of life

Posted by bakkenexpert

The downturn in financial markets had sparked renewed fears of a global slowdown amid the credit crunch.  For the better part of the last 2 weeks, this took its toll on the price of oil which caused our bakken plays to drop 10-20% during the period.   There has been such a mistrust of the financial system that now oilinvesting is being viewed as a flight to quality which may provide a short term base while the capital market issues attempt to resolve themselves.   On a positive note,  it does look like oil has major support around $90 and if we can get a prolonged hold of that level, then big dollar oil investors may enter the fray.

bakken

Symbol	Last Trade		Change		Volume	Avg Vol (3m)
NOG	11:23AM ET	7.04	0.12	1.73%	170,642	508,603
WLL	11:24AM ET	70.59	0.49	0.70%	404,045	1,190,530
SM	11:23AM ET	34.86	0.06	0.17%	531,390	1,456,460
MDU	11:24AM ET	26.65	0.15	0.56%	511,302	1,106,240
GEOI	11:23AM ET	11.11	1.16	11.66%	89,040	214,415
BSIC.OB	11:11AM ET	1.30	0.10	7.14%	18,795	43,792.3
WSEG.OB	11:20AM ET	0.1250	0.0400	24.24%	257,534	789,254
CLR	11:23AM ET	36.39	1.90	5.51%	1,304,581	2,017,570
BEXP	11:23AM ET	12.74	0.65	5.38%	478,931	1,304,140
KDKN.OB	11:23AM ET	0.86	0.26	23.21%	105,260	95,510.8
KOG	11:23AM ET	1.3800	0.1800	15.00%	1,128,631	1,350,410
EOG	11:24AM ET	90.33	1.52	1.71%	2,018,772	4,224,690

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Tags: BEXP CLR dow EOG financial markets