Mississauga, ON -- (SBWIRE) -- 01/20/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Marquee Energy Enters 2015 with Cautious Outlook Amid Slumping Oil Prices."
Companies mentioned in this article include Marquee Energy Ltd. (TSX-Venture:MQL).
This morning the International Monetary Fund (IMF) cut its forecast for global economic growth. A slowdown in the global economy is bad news for crude oil prices, which fell 50% last year and have continued their slide in the first two weeks of 2015.
Brent crude prices are currently hovering around $50 per barrel, while WTI is down to around $47.50 per barrel. While lower oil prices have hurt shares of oil and gas companies in general, independent producers in the U.S. and Canada have been among the worst hit. The cost of extraction for many of the independent oil and gas producers in the U.S. and Canada is significantly higher than those companies that focus on conventional fields. Not surprisingly, lower oil prices have hurt their margins and their stock price.
One of the biggest losers among smaller Canadian oil and gas producers has been Marquee Energy Ltd. (TSX-Venture:MQL), a Calgary, Canada-based junior oil and gas company. Marquee is engaged in the acquisition, exploration and production of petroleum and natural gas reserves in Western Canada. The company's shares have fallen nearly 60% in the last six months as oil prices have tumbled.
The full version of this article can be found at:
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