Our Mid-Cap Growth Portfolio, the "Sweet 16", should report strong 2nd quarter results. The portfolio is heavily weighted to oil and WTI moved up 4.99% during the quarter. Natural gas gave back all of its gains after a strong rally that peaked in the middle of the quarter. NG prices remain much higher than they were last year, so year-over-year revenues from gas sales will be quite strong.
The active rig count drifted higher during the quarter, which should help HP and UNT.
Gulfport (GPOR) is expected to report a big increase in production for the quarter as they now have several high rate Utica Shale well connected to the MWE gathering system. A good report by GPOR should also help MHR and REXX. Both companies are on our Watch List. GPOR is also very close to bringing their first Canadian Oil Sands project on-line.
Results from the Permian Basin may be a big story this quarter. CXO, XEC, EOG, ROSE, SM and WLL are drilling in the Permian.
Sweet 16 Q2 Results
Sweet 16 Q2 Results
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group