Big oil like CVX said they are getting squeezed by high crude price. Any thoughts? http://www.marketwatch.com/news/sto...x?guid={FD74A427-620D-4E60-96FD-00ADCD71BF12}
EOG, & DVN have recently made big finds. DVN was a few years ago. Also, any E&P plays that have some nat gas exposure like DVN and APA will also do well. Take XOM's recent quarter - they got killed on refining and only spent $5 billion on exploration. Once oil goes beyond $150 - firms with large reserves are going to see their shares balloon way beyond anything normally used to value E&P firms because I believe the market will begin to value them as a reserve replacements for the majors and will become an extremely pressing issue.