Utah Oil Boom Stocks On Watch: Energy Business Update
Analysts at Wells Fargo believe that Crescent Pt Energy’s (CSCTF.PK) $784 million purchase of Ute Energy could be a harbinger of a Utah oil boom. Investors know of the problems that producers in eastern Utah must confront as they bring oil and gas to market, “but the entry of a company with the balance sheet to develop infrastructure is a positive,” say the analysts. Stocks on watch include other players with an area presence: Exxon Mobil Corporation (NYSE:XOM), Anadarko Petroleum Corporation (NYSE:APC), Berry Petroleum Co. (NYSE:BRY), Bill Barrett Corporation (NYSE:BBG), and others.
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