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Shale oil vs tech stocks mid April

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money_4 April 16, 2014 (Chinavestor) US shale oil companies have been on fire, far outperforming major technology stocks. That might not be a big feat given weak earnings from Yahoo inc. (NASDAQ:YHOO). But that might change. IBM Corp. (NYSE:IBM) and Google Inc. (NASDAQ:GOOG) is going to report after the close today. Apple Inc. (NASDAQ:AAPL) is coming up soon as well.

US shale oil companies will report after the tech bonanza nevertheless will be followed closely. Shale oil companies in our universe, Continental Resources (NYSE:CLR), Whiting Petroleum (NYSE:WLL), Kodiak Oil & Gas (NYSE:KOG) and Oasis Petroleum (NYSE:OAS), have been on fire relative to the tech sector.

See following overbought report listing shale oil stocks as well as selected technology companies.

tech_20140416

And just how much of oil is there in shale formations? Take a look at the following chart. The Bakken formation is where WLL is the most active, as well as CLR.

shale_oil_key_regions

Source: http://www.eia.gov/petroleum/drilling/#tabs-summary-2

 

 



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