VAALCO Energy Inc
Triple Top Pattern: Crude Oil Prices Could Decline
WTI crude oil prices are declining for the third day in a row. The bearish sentiments could push oil to test the support of $55 per barrel.
Smithwood Advisers and Hancock Sell Stakes in Energy in 1Q15
Smithwood Advisers was among the hedge funds that sold their stakes in SandRidge Energy in 1Q15. Hancock Holding was one of the firms that sold stakes in Vaalco Energy.
Oil Woes Pummel Vaalco in 1Q15, but Hope Remains for a Rebound
Vaalco Energy’s (EGY) revenues declined to $18.2 million in 1Q15, from $28.1 million in 1Q14. This translated to a diluted net loss per share of $0.67, down from $0.12 per share in 1Q14.
Crude Oil Prices Might Fluctuate in a Narrow Range
Increasing imports from Asia would drive crude oil prices higher. The key resistance is at $61 per barrel. Prices tested this level in May 2015.