Weakest E&P Stocks in the Week Ending August 31


Aug. 18 2020, Updated 6:33 a.m. ET

SandRidge Energy

SandRidge Energy (SD), a natural gas–weighted E&P company focused in the Mid-Continent and Niobrara Shale regions, was the weakest E&P company in the week ending August 31. SandRidge Energy fell 4.5% last week amid weakness in natural gas prices. Overall, SandRidge Energy has lost 24.7% YTD (year-to-date).

SandRidge Energy’s YTD decline could be attributed to its weak operating performance in recent quarters. The company reported average daily production of 32.4 MBoed (thousand barrels of oil equivalent per day) in the second quarter—compared to 42.1 MBoed in the second quarter of 2017. SandRidge Energy saw a YoY decline in its operating margins during the quarter due to lower average realized prices and higher cash operating expenses.

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Unit (UNT) was the second-weakest E&P stock last week—it fell 4.3%. Last week, the decline could have been due to weakness in natural gas prices. Overall, Unit has gained 19.5% since the beginning of 2018.

SRC Energy

SRC Energy (SRCI), an E&P company in the DJ Basin, was the third-weakest E&P stock last week. SRC Energy ended the week 4.0% lower. So far, the company has risen 9.1% in 2018.

Other low performers

Bonanza Creek Energy (BCEI), Chesapeake Energy (CHK), Parsley Energy (PE), PDC Energy (PDCE), Earthstone Energy (ESTE), Viper Energy Partners (VNOM), and Extraction Oil & Gas (XOG) were among the ten lowest performing E&P companies last week.


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