With Oil and Gas stocks continue to rally up form their 2020 lows, and SPDR S&P Oil & Gas Exploration & Production ETF ($XOP) already above its Pre-Covid levels, $WTI rally of +24.06% over the past weeks of trading upon the high volume break of a two weeks consolidated pattern, continue to suggest it is playing catch up relative to the broader sector.
With management of $WTI owning 35% of the common stock, it provides a strong alignment of incentives. Its offshore's asset values alone suggest that the shares are underpriced and may be worth $6-$7.
The immediate resistance for $WTI is at $5.
$WTI an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters. The company also owns interest in approximately 146 offshore structures.
With management of $WTI owning 35% of the common stock, it provides a strong alignment of incentives. Its offshore's asset values alone suggest that the shares are underpriced and may be worth $6-$7.
The immediate resistance for $WTI is at $5.
$WTI an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters. The company also owns interest in approximately 146 offshore structures.