Point Roberts, WA - June 27, 2011 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, releases a trading alert for Oil and Gas, stocks, Osage Exploration and Development Inc (OTCBB:OEDV), Devon Energy Corporation (NYSE:DVN ) and SandRidge Energy Inc. (NYSE:SD) for June 24th.

Oil closed at $90.85 -0.17 -0.19%. With the recent volatility in oil prices, what is the outlook for the sector?

The ( CGES) Centre for Global Energy Studies reports world's oil use is expected to increase by 1.6% in 2011, averaging 89.3 mbpd, up by 1.4 mbpd from the 87.9 mbpd seen in 2010.

 

The Centre for Global Energy Studies (CGES) sees little change in oil prices for the rest of the year after revising down its latest oil price forecast. In April it said Dated Brent prices were most likely to exceed $130 per barrel (dpb) and even reach $140 before the end of the year.

So what does that mean for oil prices? None of the experts really know with all the variables, there are just as many opinions and outlooks.

From the players within the sector, the outlook is bullish.

According to a report from Ernst & Young June 22, "Seventy-five percent of oil and gas companies are more optimistic about their companies' prospects in 2011, but rising inflationary pressures could hamper plans for growth."

"With political unrest in the Middle East putting pressure on companies to develop energy sources in new regions, and economic growth amplifying global demand, it's no surprise that the vast majority of oil and gas companies are on the prowl for new growth opportunities," says Kevan Holroyd, Executive Director in Ernst & Young's Oil & Gas Transaction Advisory Services group.

Of the 83% of global oil and gas companies pursuing growth, 46% are actively looking to grow inorganically through mergers and acquisitions this year, up 15% from 2010, while 37% remain focused on growing their company organically by adding projects and properties.

http://www.ey.com/CA/en/Newsroom/News-releases/2011-O-G-CapitalConfidence

Osage Exploration and Development Inc (OTCBB:OEDV) announced recently, that along with its partners Slawson Exploration Company and US Energy Development Corporation, it continues to expand their Nemaha Ridge Mississippian prospect by announcing another land acquisition milestone, topping 11,000 net mineral acres across 40 sections in Logan County, Oklahoma.

Slawson Exploration Company is the Operator of the project and owns 45%, US Energy Development Corporation owns 30%, and Osage Exploration has 25%.

"As we move forward in developing this project, we remain committed to expanding our footprint. While our Colombian assets continue to perform well, it is fair to say that we are very focused on building our Oklahoma exposure for the immediate future.

Devon Energy Corporation (NYSE:DVN) announced on Tuesday that its management will provide the company's 2011 capital budget and operational update in conjunction with its thermal oil sands school on Tuesday, June 28, 2011.

A webcast link will be accessible from Devon's home page at www.devonenergy.com on the day of the event. A PDF file of the slides will be provided on the company's home page approximately fifteen minutes prior to the start of the event.

SandRidge Energy Inc. (NYSE:SD) a week ago announced that the cartel announced that it failed to agree on increasing oil production as a way of lowering prices. The announcement caused a noticeable drop in US oil explorers, many of which hope to boost production to capitalize on oil's spike in price.

Oil & Gas Stocks Sector Trading Snapshot

• Osage Exploration and Development Inc (OTCBB:OEDV) closed lower by 0.015 (-5.66%) at $0.25.
• Devon Energy Corporation (NYSE:DVN) fell 0.88 (-1.14%) and closed at $76.61.
• Western Refining, Inc. (NYSE:WNR) ended the day at $16.24, down 1.15 (-6.61%)
• SandRidge Energy Inc. (NYSE:SD) fell 0.18 (-1.71%) to closed at $10.37.
• Cimarex Energy (NYSE: XEC ) slid 1.84 (-2.14%) to ended the day at $83.95.
• Continental Resources, Inc. (NYSE: CLR ) closed at $60.51, down 1.06 (-1.72%)
• Dune Energy, Inc. (OTC:DUNR) surged 0.010 (1.59%) to $0.64.
• Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) fell 0.38 (-1.03%) to $36.49.

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About Osage Exploration and Development, Inc. ( OTCBB: OEDV)Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and executive offices in Bogotá, Colombia, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the US and Colombia. www.osageexploration.com

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Osage Exploration and Development, Inc. (OEDV.OB) is a showcase oil and gas stock on Investorideas.com Visit the company showcase profile at Investorideas.com Request news and stock alerts for Osage Exploration and Development, Inc. (OEDV.OB) Disclosure : (6 months starting May 24, 2011 thirty five hundred per month, 100,000 144 shares)