In the week ending September 28, W&T Offshore (WTI), an exploration and production company involved in offshore drilling, was still among the top upstream gainers for the second consecutive week. W&T Offshore rallied 19.0% last week. The company gained ~42% last month. Overall, W&T Offshore has gained 191.2% since the beginning of 2018. The company is among the top upstream gainers during the past year. To learn more, read These Upstream Stocks Have Generated Maximum Total Returns.
WPX Energy (WPX), a Permian and Williston-focused exploration and production company, was the second-highest upstream gainer last week. WPX Energy rose 6.0%. Overall, WPX Energy has gained 43.0% since the beginning of 2018. WPX Energy is among analysts’ favorite upstream companies. Read Which Upstream Companies Do Wall Street Analysts Like the Most? to learn more.
Wildhorse Resource Development
Wildhorse Resource Development (WRD), an exploration and production company in the Eagle Ford region, was the third-highest upstream gainer last week. The company ended the week 4.8% higher. Recently, Wildhorse Resource Development announced two acquisitions in the Eagle Ford region. The company agreed to acquire “20,305 net acres in the Eagle Ford, Austin Chalk, and other intervals with approximately 39 Boe/d of net production” as noted in the related press release. Now, the company owns over 418,000 net acres in the Eagle Ford region. The Eagle Ford is among the top crude oil drilling locations among US drillers.
Other top upstream gainers
Continental Resources (CLR), Berry Petroleum (BRY), Unit (UNT), Marathon Oil (MRO), California Resources (CRC), Whiting Petroleum (WLL), and Concho Resources (CXO) were among the top ten top upstream gainers last week.
Next, we’ll discuss the worst-performing upstream stocks last week.