New Trade Alert: XR Energy Inc. ( XREG )

XREG is trading with a solid near term setup and offers very accessible entry below 5 cents.

XREG is building out its assets in the oil and gas industry and is currently focused on various property assets in the State of Texas.

The company’s Texas operations boasts leasing contracts for over 480 acres and over 36 wells which at current production capacity, is producing at depths of up to 2,800 feet.

XREG also has an interesting and unique extraction process that I believe gives it a strong edge in the competitive oil and gas space. The company’s production process uses a proprietary production process called RevitaFlow ™; the enhanced oil recovery (EOR) system allows XREG to tap wells that are abandoned as dry and extract vital supplies hidden from traditional production systems.

XREG’s presence in Texas is a major factor driving interest in the play. The reason is that while oil prices have softened recently, Texas continues to be one of the biggest producers of oil and gas.

The records for last year showed that in July Texas released 111.2M barrels of oil onto the market. This was 14.5M barrel increase over the same period in 2014.

Oil and gas also accounted for a massive tax haul for Texas’ coffers in 2015. According to one report, the state collected $13.8B in taxes and royalties in 2015 – the second highest figure paid out in the state’s history.

One oil industry executive speaking at an energy/power conference in New York summed up the bullish outlook sentiments towards Texas’ oil and gas industry:

“We’re excited about 2016,” said EOG Resources CEO Bill Thomas. “We think the market is rebalancing as we speak, and we think prices could be a little bit better next year than they are right now.”

Thomas, like most savvy executives in the oil and gas industry, have realized that efficiencies and service cost reductions can be powerful allies in sustaining profitability amid the overall bearish oil market.

XREG in January announced that it has completed due diligence relating to its previously announced agreement to purchase an oil servicing company.

Akram Chaudhary, XREG’s President and Chief Executive Officer, said, “We are pleased with the completion of our analysis and due diligence of this acquisition. We look forward to the closing, and the renewed ability to reduce our cost of production even further as well as provide a new source of more continuous revenue for the Company. We look forward to an improving oil price environment in 2016.”

RSI, at 57, shows that XREG is enjoying good upward momentum at current levels. The play is still a way off from the .03 reached when XREG hit 70 RSI and offers a potential 50% upside.

XREG is a growing opportunity with potentially high returns.

 

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