A Preview of Shale Plays

I'll be attending next week's OGIS Conference in San Francisco presented by the Independent Petroleum Association of America. This event is attended mainly by domestic players, as opposed to international majors like Exxon Mobil (XOM) or Chevron (CVX), so unconventional shale drilling will be a main topic. Four firms I have mentioned previously -- GreenHunter Resources (GRH), Miller Energy Resources (MILL), Magnum Hunter Resources (MHR) and Evolution Petroleum (EPM) -- will be presenting, so let's review them. We'll look at GRH and MILL today, and MHR and EPM tomorrow.

Last week, GreenHunter announced a capital raise in the form of a PIPE (private investment in public equity), as four buy-side firms bought $3.2 million of GreenHunter's 10% Series C preferred shares. It's not a huge amount (and priced at a discount to GRH-C's current price, which already reflects a 25% discount to par), but management assured me that they are still actively seeking financing....475 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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