SOURCE: Paragon Financial Limited

Paragon Financial Limited

December 14, 2011 08:16 ET

Pengrowth Energy and Penn West Petroleum Benefitting From North American Oil Boom

The Paragon Report Provides Equity Research on Pengrowth Energy & Penn West Petroleum

NEW YORK, NY--(Marketwire - Dec 14, 2011) - In recent weeks, oil prices have moved alongside global stock indexes with the economic stability of Europe again under intense scrutiny. Oil prices are reflecting "concerns over a eurozone debt crisis that may already be forcing a recession that could significantly inhibit oil demand," independent oil trader and analyst Jim Ritterbusch said in a research note. The Paragon Report examines investing opportunities in the Oil & Gas Sector and provides equity research on Pengrowth Energy Corporation (NYSE: PGH) (TSX: PGF) and Penn West Petroleum Ltd. (NYSE: PWE) (TSX: PWT). Access to the full company reports can be found at:

The United States has made significant strides this year in breaking its dependence on foreign oil. A recent article published in The Hill's Congress Blog from Virginia "Gigi" Lazenby argues that "America's on- and offshore oil and gas reserves have presented a new opportunity for the United States' energy supply, and alongside it, tens of thousands of jobs and millions of dollars in revenues and economic activity."

According to Lazenby, America's independent oil producers are benefitting from the "innovative combination" of horizontal drilling and hydraulic fracturing, which has unlocked vast quantities of oil and natural gas from shale deposits.

The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Oil & Gas sector register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

In Canada, oil producers are not only benefitting from the well documented oil sands boom, but also from an improved shipping environment. Canadian Pacific Railway (CPR) is expanding its ability to move crude oil out of the Saskatchewan Bakken by rail, as production in the formation continues to ramp up. CPR said the move is part of an overall effort to move oil from the Bakken fields in both the province and across the border in the United States, where production increases have overtaken pipeline capacity.

Canadian Pacific, the country's second-largest railroad, said its shipments this year climbed to 13,000 carloads from 500 in 2009. It foresees 70,000 carloads at some point in the future.

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