SOURCE: The Bedford Report

The Bedford Report

July 20, 2011 08:16 ET

Surging International Oil Demand Benefits Hercules Offshore and Hyperdynamics

The Bedford Report Provides Equity Research on Hercules Offshore & Hyperdynamics Corp.

NEW YORK, NY--(Marketwire - Jul 20, 2011) - Oil and Gas drilling companies are seeing demand increase for their services as global oil consumption continues to grow. The Organization of Petroleum Exporting Countries (OPEC) recently stated that oil demand will continue to increase this year to the highest levels ever. With demand for oil so high at the moment, the biggest problem facing the drilling industry is getting more rigs operational. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides equity research on Hercules Offshore, Inc. (NASDAQ: HERO) and Hyperdynamics Corporation (NYSE: HDY). Access to the full company reports can be found at:

The US drilling sector has been required to work through new safety and environmental regulations that arose out of last year's Gulf of Mexico oil spill. While acquiring permits was difficult earlier this year, the US government has recently released a new, more-efficient, application process that should make the sector's battle a little easier.

While the moratorium did not technically extend to shallow-water operations, it did negatively impact this segment of the market because drilling permits were much harder to procure.

The Bedford Report releases investment research on the Oil and 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.

Hyperdynamics is an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa. Earlier this month HDY issued an Invitation to Tender for a 3-D seismic survey covering approximately 4,000 square kilometers on its exploration block offshore Republic of Guinea. According to Ray Leonard, Hyperdynamics President and Chief Executive Officer, "This deep water 3-D survey is the next logical step in the exploration of our large offshore block in the Republic of Guinea."

Hercules Offshore offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world. Presently the company is "optimistic" but "not bullish" about the Gulf going into 2012 as the rig supply moves into balance.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:

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