Monday, May 13, 2013

Prodigy Oil and Gas | US Land Drilling is Surging

Because of continuous fluctuations of share market and increasing tax rate imposed by government, investors are now very much interested to invest their capital in hard assets producing sectors like oil and gas drilling investments. The US Energy Department has already declared that the average production of crude and other liquid hydrocarbons will be 11.4 million barrels per day in 2013 whereas Saudi Arabia, largest oil producers in the world, produces 11.6 million barrels per day. The rate is increasing day by day mainly because of a surge in private land based drilling ventures.

Many of these interested investors like to make partnership with small land based drilling companies like Prodigy Oil and Gas, located in Texas, because of their lower drilling costs and more favorable tax redemption as compared to large companies. In October, 2012- CBS news published an article regarding this surge in producing oil. That article’s name was “U.S. may soon become world’s top oil producer”.  It looks like inherent and experienced investors are gradually shifting to oil and gas drilling investments in 2013.

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