SOURCE: The Bedford Report

The Bedford Report

May 23, 2011 08:16 ET

ATP Oil and Lucas Energy Ramp Up Production

The Bedford Report Provides Analyst Research on ATP Oil & Gas and Lucas Energy

NEW YORK, NY--(Marketwire - May 23, 2011) - Oil prices have slumped in recent weeks as the US dollar strengthens and gas pump prices continue to drop. Government and industry data show that gasoline demand in the US has slipped for the past two months as high gas pump prices are forcing Americans to drive less, sapping demand in the world's biggest oil-consuming country. Small cap US-based Oil and Gas explorers do not appear concerned, however, as they continue to post record profits. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides research reports on ATP Oil & Gas Corporation (NASDAQ: ATPG) and Lucas Energy, Inc. (NYSE Amex: LEI). Access to the full company reports can be found at:

In recent months, investors have focused on oil and gas companies that do not have exposure to Libya and other troubled spots, but stand to benefit from oil's recent spike in demand. Uncertainty over what will happen with the 12th largest exporter of oil in the world is partially driving the need to raise US exploration. Earlier this month, faced with the economic and political consequences of high gas prices, President Obama offered his support to measures to support domestic oil production. He also called for speedier evaluation of oil and natural-gas projects in the resources in the mid- and south Atlantic region, and said his administration plans to lease new areas in the Gulf of Mexico.

The Bedford Report releases regular market updates on the Oil & Gas Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

ATP Oil & Gas is an international offshore oil and gas development and production company focused in the Gulf of Mexico, Mediterranean Sea and North Sea. Earlier this month the company said revenues from oil and gas production were $166.5 million for the first quarter 2011, compared to $93.0 million for the first quarter 2010. Increased revenues from production were attributable to higher production volumes and higher oil prices.

Lucas Energy said that it boosted production 15 percent sequentially in the most recent quarter. Lucas Energy said the improvement in production during the quarter was due to workovers, improved trucking, and field operational changes.

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