Fracking for oil from shale rock is expanding into more sites in Texas, North Dakota, Wyoming and Montana. Fracking or hydraulic fracturing is a deep bore strategy using liquid pressure to release oil and gas from shale rock formations. Oil at $90+ barrel spikes incentives for drillers DVN, AGYP, PXD, CLR and MRO.

LOCATIONS FOR OIL/GAS FRACKING IN SHALE MULTIPLY

Once the Permian Basin in Texas and New Mexico was fracking central. Now it is expanding to new sites in Texas, N. Dakota, Wyoming and Montana. Oil frackers tried to read future demand during the pandemic and many slowed production. They are now ramping up production to new fracking sites.

Fracking offers new opportunities for aggressive independent oil and gas drillers. Consolidation in the fracking industry is rampant, with companies like Pioneer Natural Resources (NYSE: PXD) acquiring two smaller drillers. They are Parsley Energy, Inc., and DoublePoint Energy.

Drillers are eyeing fracking opportunities in North Dakota's Bakken Field.

As the energy sector outperforms, put independent drillers like Allied Energy Corporation (OTCMKTS: AGYP) stock on your Watch List for 2022.

LATEST DEVELOPMENTS IN FRACKING FOR ENERGY DRILLERS

Here are the latest developments.

- Pioneer Natural Resources (NYSE: PXD) shares have jumped 12+% over the past four weeks. Analysts see this fracking independent driller poised for a giant leap this year. The company notified note holders this week that it plans a full redemption of its 2004 and 2006 notes. That included principal and interest. This is a cash-rich company primed to frack for more energy.

- Devon Energy Corporation (NYSE: DVN) stock is successfully acquired by 48 hedge funds. Consensus among analysts is that DVN will soon report volume of $3.68 billion, 187+% higher YOY. It offers about 10 years worth of fracking inventory in new locations, such as the shale of Eagle Ford, Texas.

AGYP'S NEWEST DRILLING TECHNIQUES FIND OIL

- Allied Energy Corporation (OTCMKTS: AGYP) finds new oil and gas from abandoned or older wells. It does it with the newest drilling techniques. Spikes in the price of oil means that its sales of oil and gas from its six pumping well sites are significantly higher. It has also identified more than a dozen new well sites.

Assets under management (AUM) are rising. Last year at just two locations, the number was $32 million. It is double that today and it has six well sites to evaluate now, not just two.

- Continental Resources, Inc. (NYSE: CLR) says North Dakota's Bakken Field could have 65,000 wells drilled and generate 37 billion barrels of oil. Its next earnings release is Valentine's Day, February 14. This will be the first CLR volume/earnings report since Doug Lawler was named COO and EVP. He join CLR as the company is ramping up energy output.

- Marathon Oil Corporation (NYSE: MRO) receives a bullish consensus from analysts who bet that MRO will report quarterly revenue of $1.59 billion, 91.76% higher than the comparable quarter last year.

$90 OIL 'ONLY THE BEGINNING'

Some analysts are saying $90 barrel oil prices now are 'only the beginning,' according to Morgan Stanley notes.

So put independent drillers like Allied Energy Corporation (OTCMKTS: AGYP) stock on your Watch List for 2022.

Read more on AGYP:

https://www.drpjournal.com/is-oil-and-gas-explorer-agyp-going-electric/

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