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Weakest Upstream Stocks This Week: KOS, OAS, MRO, WLL, and MUR

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Jun. 28 2018, Updated 11:55 a.m. ET

Upstream losses: Kosmos Energy

In this part, we’ll look at the oil and gas production (upstream) stocks that have fallen the most this week. We’ll focus on oil and gas producers with a market capitalization greater than $100 million and an average trading volume over 100,000 shares last week.

This week, Kosmos Energy (KOS) has fallen ~6.9% from $8.45 to $7.87. On June 26, KOS closed the day with a loss of ~2.6%. Before the market opened that day, Kosmos provided an update on its offshore Suriname exploration and drilling program. According to its press release, it has completed drilling the Anapai-1A exploration well located in Block 45 in offshore Suriname. As KOS did not find hydrocarbons, the well has been plugged and abandoned.

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Moving down: OAS, MRO, WLL, and MUR

In this week’s list of weakest stocks, Kosmos is followed by Oasis Petroleum (OAS), Marathon Oil (MRO), Whiting Petroleum (WLL), and Murphy Oil (MUR), which have fallen ~4.5%, ~3.5%, ~3.2%, and ~3.1%, respectively. On June 25, Oasis Petroleum announced the sale of its non-core assets in the Williston Basin for $283 million. Currently, these assets have a net production of 4.4 thousand barrels of oil equivalent. The First Trust Natural Gas ETF (FCG) which represents an index of energy stocks that derive much of their revenue from natural gas exploration and production, has risen ~0.2% this week.

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