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Last Week’s Strongest Exploration and Production Stocks

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Nov. 20 2020, Updated 3:30 p.m. ET

Black Stone Minerals

Black Stone Minerals (BSM), a mineral interest owner structured as an MLP, was the strongest E&P (exploration and production) stock last week, rising 11.1%. This growth may have been due to its strong second-quarter earnings and gains in natural gas prices. Its distribution rose 8% year-over-year during the quarter, and the partnership increased its 2018 production guidance. BSM has risen 6.4% this year, while peer Viper Energy Partners (VNOM) has risen 59%. For a comparison of the two royalty owners, read VNOM and BSM: A Comparative Analysis of Two Mineral Interest MLPs.

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Kosmos Energy

Kosmos Energy (KOS), which focuses on emerging regions in Africa and South America, was the second-strongest E&P gainer stock last week, rising 10.7%. KOS stock rallied following the company’s announcement of its acquisition of Deep Gulf Energy for $1.225 billion. According to a press release, the transaction “adds approximately 25,000 barrels of oil equivalent per day (boed) production (~85% oil), with an estimated reserves to production ratio of 8.8, growing 2018 pro forma production by 50% from approximately 45,000 to 70,000 boed.” KOS has risen 23.5% this year.

Unit

Unit (UNT), which is involved in E&P, contract drilling, and natural gathering and processing, was the third-strongest E&P stock last week, rising 9.6%. The gain may have been due to natural gas prices rising and the company’s robust Q2 earnings. Overall, UNT has risen 18.3% this year.

Other strong E&P stocks

Southwestern Energy (SWN), Callon Petroleum (CPE), Alta Mesa Resources (AMR), Oasis Petroleum (OAS), Resolute Energy (REN), Matador Resources (MTDR), and Centennial Resource Development (CDEV) were among the ten strongest E&P stocks last week.

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