Summer is almost over and oil prices have stayed relatively low compared to previous summers when you had to get a part-time job just to pay for gas. Today’s announcement from Voyager Oil & Gas Inc. (NYSE MKT: VOG) could still be considered a big deal after the Bakken and Three Forks formations oil drillers reported record revenues. VOG stock should be on the watch list today for a day trade on the news after bouncing off its 52 Week Low of $1.06 last week.
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VOG Stock Chart
Market Cap: 70.14M
(Feb 28, 2012): 3.60
(Jul 30, 2012): 1.06
50-Day Moving Average: 1.53
200-Day Moving Average: 2.29
Shares Outstanding: 58.45M
% Held by Insiders: 17.78%
20 Day Percent Change: -33.70%
20 Day Moving Average: 1.35
20 Day Average Volume: 399,515
Voyager shareholders saw the stock price drop nearly $1 from $1.98 to $1.06 in July after a series of relatively vanilla announcements from the oil drillers. In May, the Company issued an S-3 for the purpose of raising as much as $100 million but the stock had already been declining from its $3.60 high at the end of March. Today’s record quarterly production results and Q2 EBITDA data may be enough to re-fuel this penny stock back into an upward swing.
See Q2 Revenues and Production Announcement here.
About VOG Stock
Voyager Oil & Gas, Inc. focuses on oil and natural gas properties primarily located in Montana and North Dakota and, to a lesser extent, Colorado and Wyoming. The Company’s primary focus is to acquire high value leasehold interests specifically targeting shale resource prospects in the continental United States. Because of their size and maneuverability, Voyager is able to deploy their land acquisition personnel into specific areas based on the latest industry information.
The Company generates revenue by and through the conversion of their leasehold into non-operated working interests in multiple wells primarily located in the Bakken and Three Forks oil shale.
Click here to view the SEC filings for VOG.
Bottom Line: The penny stock of Voyager Oil & Gas, VOG, has seen much better days in the PPS arena but never the production levels the company is currently putting out. The company issued a forecast of 900 barrels per day production and reported 938 which may be enough to get investors to overlook the loan agreement and debt-laden acquisitions they took on last month.
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