NEW YORK, NY--(Marketwire - May 3, 2012) - The following is an investment opinion highlighting Chevron (NYSE: CVX), Hess (NYSE: HES), Circle Star Energy (OTCBB: CRCL) and Citigroup (NYSE: C). Citigroup economists expect total liquids production to be as much as double for the continent in the next decade, and predict that the U.S. could overtake both Russia and Saudi Arabia in oil production by 2020. (www.read.bi/JLVWcH)
Citigroup (NYSE: C) analysts argued that technological breakthroughs -- particularly in shale oil extraction -- will allow energy companies to exploit petroleum resources that were formerly inaccessible. These technological breakthroughs could spark an "industrial revolution" across the North American continent. In a Business Insider article on companies already positioned to take advantage of the coming "oil boom" are Chevron (NYSE: CVX), who expects unconventional oil and gas play production of 175 mboe/d by 2017 and Hess (NYSE: HES), who has stated their Bakken production could grow 100% in 2012 as two benefactors of Citi's call on oil.
Circle Star Energy (OTCBB: CRCL), who has been building up acreage in Kansas' "Mississippian Lime" has recently announced their total stake in the State is now 175,000 net acres. Currently, the company's assets include producing and non-producing oil and gas mineral interests, royalty interests, and non-operated working interests located throughout Texas and Kansas. For more information, please visit www.circlestarenergy.com.
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