Commodities Briefing - Industry Advancers Watch for: PetroTech Oil & Gas, Exxon Mobile, Acorn Energy, Chesapeake Energy
CORAL SPRINGS, Florida, November 18, 2013 /PRNewswire/ --
A quick glance at the latest news and notes of the advancers in the energy mining industry: PetroTech Oil and Gas (OTCQB: PTOG), Chesapeake Energy Corporation (NYSE: CHK), Exxon Mobile Corporation (NYSE: XOM), Acorn Energy, Inc. (NASDAQ: ACFN) and Chesapeake Energy Corporation (NYSE: CHK)
PetroTech Oil and Gas, Inc. (OTC:PTOG) trading up mid morning today on over 6.8Million Shares, announces they have entered into Joint Venture with Rolling Hills Oil and Gas North Dakota to receive Up to $3.6 million in equipment financing. PTOG today announced that they have entered into a joint venture with Rolling Hills Oil and Gas LLC of North Dakota (RR) to obtain financing for two 20,000 foot Completion and work over rigs. The joint venture calls for Rolling Hills to arrange funding from one of their equipment lines, and PTOG would, once purchased and manufactured per specs, will contract the two rigs with one of the major producers in North Dakota such as Halcon Resources (NYSE: HK) and Continental Resources (NYSE: CLR). "This is an opportunity for our company to participate in a venture to secure a huge revenue source over the next Three to Five years that will exceed anything we have done to date, with no expense on our part or any additional debt to our company." Said Eddie Schilb president of Petro Tech Oil and Gas, "These two rigs once put into production will bring in $40,000.00 per day at 24 days per month "
To read the full press release for PTOG, please click here:http://finance.yahoo.com/q/h?s=PTOG+Headlines
PetroTech Oil and Gas Inc.'s joint venture with Rolling Hills also revealed today that Rolling Hills has obtained the first executed contract to provide completion rigs with Halcon Resources, a multibillion-dollar industry leader in the Bakken Shale play, and other major areas of the US. The contract will provide for one-year probation period and will generate $20,000.00 a day per rig, plus additional charges for additional services. "We believe that once both rigs are manufactured and working full time per 24 hour period, the two rigs could generate over $640,000.00 per month." Said Eddie Schilb president of Petro Tech Oil and Gas, " The contracts require two stages and execution of the two contracts for completion, but we have completed the first part and are confident in completing the balance" he added, we will keep our shareholders up to date once everything is done.
Exxon Mobil Corporation (NYSE: XOM) engages in the exploration and production of crude oil and natural gas, and manufacture of petroleum products. The company also transports and sells crude oil, natural gas, and petroleum products. It has approximately 37,228 gross and 31,264 net operated wells. XOM is trading up slighty today on 4.5Mil shares by 10:40am.
Acorn Energy, Inc. (NASDAQ: ACFN), through its subsidiaries, provides technology driven solutions for energy infrastructure asset management worldwide. It offers sonar and acoustic related solutions for energy, defense, and commercial markets with a focus on underwater site security for strategic energy installations and other acoustic systems, as well as develops and produces real-time embedded hardware and software. ACFN is trading up over 20% today on 299,000 shares by 10:40am and was upgraded by the Maxim Group.
Chesapeake Energy Corporation (NYSE: CHK) engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. The company also offers marketing, midstream, drilling, and other oilfield services. CHK is trading down slighty today on 1.6Mil shares by mid morning session.
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