Small Oil Drillers Are Still Getting Smacked
Getty Images/Andrew Burton
But smaller oil & gas companies with operations more closely tied to US shale drilling saw their stocks get clobbered again.
Among the big losers on Monday were:
- BreitBurn Energy (BBEP), down 18%
- LinnCo (LINE), down 8%
- EV Energy (EVEP), down 12%
- Atlas Resource (ARP), down 15%
- Oasis Petroleum (OAS), down 7%
- Vanguard Natural (VNR), down 9%
- Mid-Con Energy (MCEP), down 12%
And most all of these stocks also sold off hard on Friday, and over the last five trading days, BreitBurn and Mid-Con are down more than 30%, while only Vanguard hasn't dropped more than 20% over that period.
Vanguard is down 19% since last Monday.
And over the last month, the damage for some of these companies is deeper.
Exchange-traded funds - which are baskets of stocks in a certain sector - representing oil & gas exploration and oil & gas services companies are down nearly 20% in just the last month.
Crude prices bounced back on Monday, and while selling may or may not be over for crude, the pain is still being felt by plenty of companies in the oil space.
Here are the staggering charts.
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