SOURCE: Paragon Financial Limited

Paragon Financial Limited

October 05, 2012 08:20 ET

Oil Stocks Slip as Oil Production in the U.S. Reaches 15 Year High

The Paragon Report Provides Stock Research on Abraxas Petroleum and Halcon Resources

NEW YORK, NY--(Marketwire - Oct 5, 2012) - The recent economic slowdowns in Europe and China has seen global oil demand fall in 2012. Oil prices on Wednesday fell to a two-month low after government reports showed oil production in the U.S. have surged to a 15-year high and fuel demand decreased. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on Abraxas Petroleum Corp. (NASDAQ: AXAS) and Halcon Resources Corp. (NYSE: HK).

Access to the full company reports can be found at:

www.ParagonReport.com/AXAS
www.ParagonReport.com/HK

The Energy Information Administration on Wednesday reported that oil production in the U.S. was at its highest level since December 1996 reaching 6.52 million barrels a day last week, sending oil futures down as much as 3.9 percent. For the week ending September 28 fuel demand had also dropped to 18.3 million barrels a day, a 5 month low.

"The inventory numbers were rather neutral but demand looks pretty awful," said Michael Lynch, president of Strategic Energy & Economic Research. "A weak economy and falling demand will probably leave us with fuller oil tanks in the months to come."

Paragon Report releases regular market updates on the Oil & Gas Industry 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 www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

Abraxas Petroleum holds operations across the Rocky Mountain, Mid-Continent, Permian Basin and onshore Gulf Coast regions of the United States and in the province of Alberta, Canada. The company recently reported that the Spires Ranch 89-1H well is currently flowing approximately 828 barrels of oil per day and 734 mcf per day of gas on a 30/64 inch choke.

Halcón Resources is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. The company plans to spud 18 to 22 wells in their Woodbine/Eagle Ford play during the second half of 2012 with an average working interest of approximately 84%.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer