Oil In Your Backyard

Oil is expensive. Period. Pretty much everybody who drives a car would agree with that. What if Big Oils also think the same thing. Big Oil? Aren't they the ones that cause the oil price to fly like crazy?

Yes. Big Oils are probably making crazy profit off high gasoline price. However at the same time because oil fields that major oil corporations are drilling are at remote places like freezing Syberia or deep ocean floors, getting oil out of mother earth becomes expensive and risky for the oil companies.

Well how about safer and closer place ... like United States. Instead of the Big Oil, we have smaller companies owning oil and gas fields here in our own land. For the next few articles let's take a look at those small oil companies with oil properties here in United States.

Penn Virginia Corp. (PVA): the Pennsylvania based company drills for oil and natural gas in East Texas, Appalachia, Mississipi, Gulf Coast and Mid-Continent. As of end of 2007 the company has natural gas and oil reserves of approximately 680 billion cubic feet equivalent and brings revenue of $92 million in the first quarter of 2008. The stock is currently trading at high P/E of 49.16 as new natural gas well drilled in Texas is expected to boost production.