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5 Oil Stocks That Were Crushed This Week (OAS, WLL, EPE, PKD, CRZO)

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Oasis Petroleum, Whiting Petroleum, EP Energy, Parker Drilling, and Carrizo Oil & Gas all slumped this week.

Publicada em: Economia e finanças
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5 Oil Stocks That Were Crushed This Week (OAS, WLL, EPE, PKD, CRZO)

  1. 1. 5 Oil Stocks That Were Crushed This Week
  2. 2. The price of oil slipped again this week, closing at just over $37 per barrel. That sent oil stocks on a downward spiral, with several slumping by double digits. The worst performers, according to S&P Capital IQ data, were Oasis Petroleum (NYSE: OAS), Whiting Petroleum (NYSE: WLL), EP Energy (NYSE: EPE), Parker Drilling (NYSE: PKD), and Carrizo Oil & Gas (NASDAQ: CRZO).
  3. 3. What: Oasis Petroleum (NYSE: OAS) dropped 10% this week.
  4. 4. So What:  Key driver: Oil price volatility  Oil is currently well below Oasis Petroleum’s $50 cash flow break-even point
  5. 5. Now What:  The concern is that oil prices will continue to weaken, which would materially weaken Oasis’ financial situation  Key takeaway: Investors are growing concerned that Oasis’ balance sheet will begin to deteriorate
  6. 6. What: Carrizo Oil & Gas (NYSE: CRZO) fell more than 10% this week.
  7. 7. So What:  Key driver: Oil price volatility  Only 55% of the company’s drilling locations are economic at oil below $45 per barrel
  8. 8. Now What:  The company needs higher oil prices to drill economic wells  Key takeaway: Investors are concerned that Carrizo will have to drill uneconomic wells just to maintain its current production rate
  9. 9. What: Whiting Petroleum (NYSE: WLL) slumped more than 11% this week.
  10. 10. So What:  Key driver: Oil price volatility  Like Oasis Petroleum, Whiting is banking on a $50 oil price in 2016 to keep the company at cash flow break-even
  11. 11. Now What:  The longer the oil price stays low, the deeper Whiting’s cash flow deficit will grow  Key takeaway: The company needs oil prices to rise in order to keep its head above water in 2016
  12. 12. What: EP Energy (NYSE: EPE) fell more than 12% this week.
  13. 13. So What:  Key driver: Oil price volatility  Oil prices have now slipped below EP Energy’s break- even point of $41 per barrel in the Wolfcamp and is dangerously close to its $36 per barrel break-even point in the Eagle Ford and Altamont
  14. 14. Now What:  Unless oil prices rally, EP Energy will lose money drilling new wells  Key takeaway: Investors are concerned that EP Energy will drill uneconomic wells just to maintain its production level
  15. 15. What: Parker Drilling (NYSE: PKD) plunged more than 18% this week.
  16. 16. So What:  Key driver: Oil price volatility  With oil at or below the break-even point of many drillers, it means that fewer wells will be drilled than previously expected
  17. 17. Now What:  A further slowdown in oil- field activity would result in less revenue for a drilling contractor like Parker Drilling  Key takeaway: Investors worry that Parker might not have much work in 2016
  18. 18. This could be the next billion- dollar iSecret

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