SOURCE: StockCall

StockCall

October 07, 2010 08:56 ET

Research on Pride International Inc. and Statoil ASA - Drilling Moratorium to Be Lifted at End of November

JOHANNESBURG, SOUTH AFRICA--(Marketwire - October 7, 2010) -  www.stockcall.com/ offers investors comprehensive research on the oil & gas drilling & exploration industry and has completed analytical research on Pride International Inc. (NYSE: PDE) and Statoil ASA (NYSE: STO). Register with us today at www.stockcall.com/ to have free access to these researches. 

Lawmakers have finally finished laying out the groundwork for the drilling moratorium to be lifted in the Gulf of Mexico. Some drilling companies are concerned that the tightened regulations will cost them a substantial amount of money but most are anxious to resume operations at the end of November.

www.stockcall.com/ is an online platform where investors doing their due-diligence on the oil & gas drilling & exploration industry can have easy and free access to our analyst research and opinions on Pride International Inc. and Statoil ASA; investors and shareholders of these companies can simply register for a complimentary membership at https://stockcall.com/development/stockcall/page.php?name=register.html

One regulation that will certainly cost drilling companies money concerns blowout prevention. Rig owners must now outfit blowout preventers with two sets of blind shear rams to greater ensure that there will not be a repeat of the BP disaster. Visit www.stockcall.com/ to see how companies in this industry have grown over the past years and how they are expected to perform in the future.

In addition to tightened safety measures, drilling companies will now be subject to increased governmental oversight. The extent of the increased oversight is not completely clear and some drilling outfits are wary. Register now at https://stockcall.com/development/stockcall/page.php?name=register.html to have free access to our reports on the oil & gas drilling & exploration industry.

Lastly, and probably the most costly, rig owners will now be responsible for paying for audits. The audits will examine safety procedures for rig workers in response to the 11 workers who died during the BP spill. The audits will also oversee the dependency of blowout preventers.

Commenting on the legislation efforts Louis Raspino, CEO of rig operator Pride International Inc. and chairman of the International Association of Drilling Contractors, stated that the Obama Administration sought to see "how close to zero" offshore drilling risk could get. He also noted that no other industry have had to meet such benchmark. Investors can register for free to access the research report on Pride International Inc. at www.stockcall.com/PDE071010.pdf.

Overall, drilling companies are pleased that the last of the drilling moratoriums will be lifted at the end of November. The additional expenses imposed by government regulations could narrow profit margins or be passed along to consumers at the pump.

Elsewhere in the energy industry, President Obama stated in a speech on Saturday that his administration is working hard to get clean energy programs on the go in an effort to boost employment. One interesting pint to note in his speech was the mention of company BrightSource Energy which is building a solar power plant that could potentially create 1000 jobs. The company is supported by many companies on the oil and gas sector including Statoil ASA. Investors can register for free to access the research report on Statoil ASA at www.stockcall.com/STO071010.pdf.

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