Hi Pat: Could you please give us a recommendation of a more conservative company that will benefit substantially from shale oil and another that will benefit from shale gas. Regards.
Our top conservative pick for shale gas would be Encana, $19.49, symbol ECA on Toronto (Shares outstanding: 737.6 million; Market cap: $14.4 billion; www.encana.com), a recommendation of our Successful Investor newsletter.
Encana agreed to sell $3.5 billion U.S. of non-essential assets in 2011. The sales are part of the company’s plan to focus on its main gas-producing properties in Alberta, B.C., Wyoming, Michigan, Colorado and Louisiana. Many of these holdings contain shale gas.
Encana is a buy.
A top shale oil recommendation is Crescent Point Energy, $45.84, symbol CPG on Toronto (Shares outstanding: 277.9 million; Market cap: $12.7 billion; www.crescentpointenergy.com), a recommendation of Canadian Wealth Advisor.
This company is very active in the Bakken area, which covers parts of Montana, North Dakota and Saskatchewan, and could contain more than 500 billion barrels of oil.
Oil was first discovered at Bakken in 1951, but it has always been hard to extract from the shale rock. However, modern techniques, such as horizontal (or slant) drilling, have made…
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