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Small Oil Drillers Are Still Getting Smacked

Myles Udland   

Small Oil Drillers Are Still Getting Smacked
Stock Market1 min read

a gas flare is seen at an oil well site gas flares are created when excess flammable gases are released by pressure release valves during the drilling for oil and natural gas

Getty Images/Andrew Burton

On Monday, crude oil prices bounced back in a big way.

And after seemingly any stock in the oil and gas sector took a bath on Friday, many of the oil majors held up just fine in a market that sold off modestly.

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.

drillers 5 day

Google Finance

A terrible week for small oil & gas companies.

drillers monthly

Google Finance

And an awful month for small oil & gas companies.

oil & gas ETFs

Google Finance

And a brutal month for the sector.

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